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Milk that data

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    Milk that data Milk that data Presentation Transcript

    • Milk
that
Data
How
to
best
u1lise
and
profit
from
 your
business
data

    • Show
of
hands…
How
many
people
here
are
happy
with
the
amount
of
data
they
have
 on
their
customers?

    • Show
of
hands…
 How
many
people
ac1vely
collect
data,
analyse
and
implement
findings
 on
a
regular
basis?

    • Show
of
hands…
Out
of
those
how
many
people
have
a
full
1me
member
of
staff
analysing
 or
responsible
data?
E.g
Analyst 

    • What’s
going
to
be
covered?
•  Why
Data?
•  What
data
have
I
got?
•  How
can
this
help
my
business?
•  Milk
that
Data
•  Understanding
the
Data
collected
•  How
to
report
&
priori1se
•  Some
tools
to
help

    • Why
Data?
•  Data
isn’t
just
the
past
it’s
also
future
•  It’s
not
opinion,
its
factual
•  Shows
trends
and
insight
both
posi1ve
and
 nega1ve
to
your
business/industry
•  Helps
make
informed
decisions
on
how
to
 spend
1me
and
effort
and
in
which
priority
•  Customers
are
individuals
treat
them
that
 way…Target

    • Interes1ng
Stats.
•  68%
of
UK
marketers
deliver
mul1channel
marke1ng
messages
based
on
customer
 segments,
but
only
35%
actually
know
which
channels
their
customers
prefer
 
•  Only
22%
of
companies
say
they
have
a
company‐wide
strategy
for
collec1ng
and
integra1ng
 data
analysis
with
business
objec1ves,
while
almost
two‐thirds
(63%)
say
they
are
working
on
 this.
Some
15%
do
not
have
a
strategy
in
place
for
this
at
all
 
•  70%
of
companies
have
at
least
one
person
directly
responsible
for
improving
conversion,
up
 from
60%
in
2009.
The
propor1on
of
companies
that
have
more
than
one
person
in
place
has
 significantly
increased
in
the
last
year,
from
20%
to
37%
 
•  84%
of
organisa1ons
of
the
23%
of
companies
who
incen1vised
staff
based
on
improving
 conversion
have
improved
conversion
in
last
12
months
compared
with
an
average
expected
 76%


    • Grazing
for
Data

    • Grazing
for
Data
•  Online
 –  Analy1cs
 –  Order
/
Customer
History
 –  Online
Marke1ng
 •  Search
(SEO,
PPC)
 •  Social
 •  Email
 •  MVT
•  Offline
 –  ERP
/
Back
Office
/
Financial
Systems
 –  POS
 –  Call
Centre
 –  Direct
Marke1ng
 –  Foohall
 

    • Online
Data,
How
can
it
help?
•  Conversion
Rate
•  Cost
Per
Visitor
(CPV)
•  Average
Order
Values
•  New
Visitor
%
•  Ra1o
New
Vs
Returning
Visitors
•  S1ckiness
•  Life
Time
Value
•  Effec1ve
on
offline
sales
•  Conversion
Analysis
•  New
Account
Signups

    • So
let’s
milk
it…
Today
we’ll
cover:

•  Web
Analy1cs
•  Social
Media
•  Email
Marke1ng
•  Mul1
Variate
Tes1ng

    • Web
Analy1cs

    • Web
Analy1cs
•  29%
of
companies
using
Google
Analy1cs
exclusively
are
unsure
if
their
 installa1on
of
Google
Analy1cs
is
properly
configured.
Of
those
that
don’t
 use
Google
Analy1cs
exclusively,
only
61%
think
their
installa1on
is
 correctly
configured
 
•  87.3%
of
UK
consumers
spend
at
least
24
hours
researching
a
purchase
of
 over
£200.
Comparably
only
6
minutes
is
spent
on
retailer
product
pages
 
•  In
the
UK
£5.3Bn
was
spent
online
during
May
2011,
a
year‐on‐year
 increase
of
18%
 
•  4pm
Wednesday
‘is
peak‐1me
for
workplace
shopping’.
The
largest
 shopping
rush
comes
when
employees
are
celebra1ng
the
‘hump’

 of
the
week
seeing
a
75%
increase
of
Shopping

    • Web
Analy1cs
–
Key
set‐ups
•  Ensure
you
have
eCommerce
tracking
•  Set‐up
funnel
conversions
through
important
 milestone
pages
•  Use
‘Campaign
Tracking’
•  Use
‘Event
Tracking’

    • Web
Analy1cs
–
Things
to
remember
•  Address
your
main
KPIs
•  Not
everyone
is
interested
in
the
same
data.
 Create
bespoke
reports
•  Customise
your
dashboards
for
easy
analysis
•  React
and
build
upon
findings

    • Social
Media

    • Social
Media
•  In
the
UK
Facebook
accounted
for
more
than
53%
of
internet
 visits
during
June
2011
 
•  Only
7%
of
marketers
are
measuring
the
impact
of
social
 media
and
genera1ng
ROI
 
•  Social
networks
increase
traffic
sent
to
online
retailers
by
13%
 
•  68%
of
UK
marketers
deliver
mul1channel
marke1ng
messages
 based
on
customer
segments,
but
only
35%
actually
know
 which
channels
their
customers
prefer

    • Social
Media
–
Key
set‐ups
for
Facebook
•  Customise
your
Facebook
page
to
increase
 ‘likes’

•  Add
social
bupons
to
your
site
e.g.
share
to
 broaden
your
brand’s
reach

•  Use
compe11ons
to
increase
your
following
&
 iden1fy
loyal
customers

•  Create
mul1ple
pages
of
relevant
content

•  Use
Apps
to
enrich
the
fan
offering


    • Social
Media
–
Key
set‐ups
for
Twiper
•  Use
3rd
party
tools
to
Manage
&
short
urls
to
measure:

 –  Re‐tweets

 –  Men1ons

 –  Unsubscribes

•  Personalise
your
presence

•  Create
short,
punchy
tweets
so
it
makes
re‐twee1ng
easy
 without
the
need
for
edi1ng

•  Ensure
your
measuring
your
followers,
Klout
score
and
 unfollows.

•  Track
your
top
key
phrases


    • Social
Media
–
Key
set‐ups
for
YouTube
•  Brand
your
presence

•  Op1mise
your
submission
for
search
relevancy
 
•  Make
your
video
engaging
and
professional

•  Ensure
your
visibility
serngs
are
correct


    • Social
Media
–
Key
set‐ups
for
Blogs
•  Keep
content
fresh

•  Op1mise
for
search

•  Set
as
a
source
in
your
analy1cs

•  Monitor
your
blog
as
you
would
your
main
 site


    • Social
Media
–
Things
to
remember
•  Look
at
your
own
or
network
analy1cs
to
see
 content
which
engages
your
customers

•  Reply
to
ques1ons
or
nega1ve
comments
 promptly
on
social
networks

•  Social
Monitoring
tools
make
social
life
easier

•  Resource
correctly
as
it’s
public
domain
and
 out
of
your
control


    • Email
Marke1ng

    • Email
Marke1ng
•  72%
of
respondents
to
an
Econsultancy
survey
in
early
2011
 described
email’s
ROI
as
excellent
or
good.
Only
organic
SEO
 scored
beper
 
•  In
2011
there
has
been
an
increase
in
Retailers
split
test
 subject
lines
and
content
to
perfect
their
campaigns
for
 maximum
response
and
ROI

    • Email
Marke1ng
–
Key
set‐ups
•  Personalise
and
target
email
content
for
your
 subscribers
•  Run
split
tes1ng
•  Synchronise
your
data
•  Track
and
analyse
results
•  Integrate
with
social
media

    • Email
Marke1ng
–
Things
to
remember
•  Collect
customer
emails
at
every
opportunity
•  Mix
it
up
–
try
out
different
designs
to
engage
 the
subscriber
•  Find
the
mailing
frequency
that’s
suits
your
 customer
•  Stay
on
top
of
your
database
and
ensure
it’s
 current
and
clean


    • MVT

    • MVT
Marke1ng
•  Only
17%
of
online
marketers
are
currently
using
MVT,
but
 42%
intend
to
use
it
in
order
to
improve
conversion
rates
•  Of
those
using
MVT,
95%
felt
it
was
either
highly
valuable
or
 quite
valuable
in
improving
conversion
rates

•  A
30%
increase
on
conversion
can
be
easily
achieved
with
the
 use
of
MVT

•  Only
10
–
20%
of
marketers
that
would
generate
great
ROI
 from
MVT
are
ac1vely
using
MVT


    • MVT
Marke1ng
–
Key
set‐ups
•  Don’t
just
do
A/B.
Make
the
most
and
of
tests
 and
MVT
•  Test
your
landing
pages

•  Test
and
target
your
campaigns
to
suitable
 audiences
based
on
apributes
and/or
ac1ons
 using
a
combina1on
of
sta1c
and
dynamic
 criteria


    • MVT
Marke1ng
–
Things
to
remember
•  Monitor
the
test
regularly
–
it’s
not
an
on‐off
 ac1vity

•  Pick
a
tool/service
that
suits
you.
Some
tools
 are
free
but
are
limited
or
take
a
lot
of
 resource
to
manage

•  Be
open
to
test
anything
and
everything
e.g.
 copy,
graphics,
size
colour/posi1on
of
bupons


    • Key
performance
indicators 

    • Some
KPI’s 
•  Conversion
Rate
•  Cost
Per
Visitor
•  Average
Order
Value
•  New
Visitor
Percentage
•  Ra1o
of
New
Vs
Returning
Visitors
•  Life
Time
Value
•  Conversion
Journey
Analysis
•  Landing
Page
S1ckiness
•  New
Account
sign
ups
•  Added
items
in
basket
(and
abandonment)
•  Effect
on
Offline
Sales

    • I’m
milking!
But
I’m
drowning
•  Day
role
doesn’t
allow
for
analysis
•  So
much
data
that
nothing
is
done,
everything
 is
a
big
job
•  How
to
interpret
the
numbers
is
another
 problem
•  What
takes
priority,
so
much
to
do
as
a
 result…

    • Show
of
hands…
How
many
people
here
have
heard
of 
scorecards?
In
par1cular
balanced
or
 weighted
scorecards? 

    • Balanced
Scorecard
•  Kaplan
&
Norton
from
Harvard
Business
School
realised
that
measuring
 the
health
of
an
organisa1on
merely
by
its
financial
results
was
flawed.
 Financial
results
(in
par1cular
Sales
Revenue)
tells
the
story
of
past
events
 without
providing
indicators
to
the
future
success
of
an
organisa1on

 
•  They
suggested
analysing
other
measures,
that
should
be
combined
with
 the
Financial
perspec1ve
including
training,
HR,
business
processes
to
give
 a
‘balanced’
view
of
an
organisa1ons
health
 
•  We
can
apply
the
same
concepts
to
our
online
strategy,
balancing
the
 conversion
rate
with
your
email
address
acquisi1on
rate,
balancing
your
 online
sales
with
the
cost
of
PPC
campaigns,
balancing
revenues
from
 affiliates
with
the
number
of
returns.


    • Balanced
Scorecard
•  It’s
a
combina1on
of
several
of
your
KPIs
•  Scorecard
needs
accurate
data
•  Balanced
Scorecards
then
need
weigh1ng
to
 priori1se
result
importance
to
a
business
•  Re‐inforces
data
cannot
looked
at
in
isola1on

    • Weigh1ng
the
Scorecard
•  Depending
on
the
importance
of
the
KPI
to
 the
business
•  Different
roles
appreciate
different
KPIs
•  Role
of
the
analyst
is
the
weight
these
to
the
 business

    • Scorecard
Example
What
makes
a
great
customer
to
a
business?

 –  Friendly,
happy
and
polite
‐
Recep1on
 –  Someone
who
places
frequent
orders
–
Sales
 –  Someone
who
pays
on
1me
‐

Finance
 –  Take
part
in
arranged
events
&
gives
 recommenda1ons
–
CEO

    • Scorecard
Example
 
Top
Trumps
 •  Different
cars
have
different
 strengths
such
as
speed.
Which
are
 ‘round
winning’
individually
 
 •  However
to
increase
the
likelihood
of
 winning
you’ll
need
cards
which
have
 many
proper1es
above
average
 making
it
a
valuable
asset
in
a
game
 
 •  Create
a
Top
Trump
summary
card
 for
your
business
which
can
be
 updated
frequently
as
a
 health
check

    • Balanced
Scorecard
•  Create
an
execu1ve
dashboard
which
displays
a
graphical
representa1on
 of
your
KPI’s
and
we
suggest
it
should
be
the
single
access
point
for
 management
teams
to
view
the
success
or
see
which
areas
are
failing
in
 your
organisa1on
 
•  A
single
traffic
light
display
can
show
a
weighted
representa1on
of
the
 importance
of
your
scores
–
green
is
good!


    • Simple
Scorecard
 Monthly
target
 Actual
 Light
Page
impressions
 20,000
 30,000

    • Simple
Scorecard
 Monthly
target
 Actual
 Light
Page
impressions
 20,000
 30,000
Previous
Month
 60,000
(month
on
month)

    • Simple
Scorecard
 Monthly
target
 Actual
 Light
Page
impressions
 20,000
 30,000
Last
Month
 60,000
Conversion
Rate
 3%
 2.5%
Sales
Target
 £10,000
 £12,000
 Overall

    • Some
tools
to
help
 

    • Google
Analy1cs 
•  hpp://www.google.com/ analy1cs/

  Custom
Reports
  Ecommerce
repor1ng

  Track
Goals
  Visualisa1on
Data
  Integrated
with
AdWords
and
 AdSense
  Many
more
features...

    • Hootesuite
  www.hootesuite.com

  Manage
mul1ple
accounts
  Analy1cs
  Monitor
men1ons
  Build
custom
reports

    • Clicktale
  www.clicktale.com

  Visitor
recordings
  Mouse
movement
 heatmaps
  Apen1on
heatmaps
  Click
heatmaps

    • Google
Website
Op1mizer 
•  www.google.com/ websiteop1mizer

  Choose
the
pages
and
 content
to
test
  Test
these
changes
with
your
 visitors
  Learn
what
changes
drive
the
 most
conversions

    • Sitespect 
•  Maginus
is
the
UK
partner
  No
tagging
or
development
 needed
to
integrate
the
tool
  No
need
to
create
en1re
 pages,
works
as
a
find
&
 replace.
  Great
for
complex
MVT
  Test
and
target

    • Feefo
•  hpp://www.feefo.com/

  Customer
feedback
system
  Instant
match
back
to
order
 feedback
  Promote
service
based
 comments
rather
than
just
 product

    • Summary
•  Take
care
of
your
data
ensure
it’s
accurate
•  Learn
what
works
and
repeat
un1l
it
doesn’t
•  Act
on
Data
and
Re‐act
on
results
•  Ensure
you
give
target

    • Thank
you! 
Contact
Details
 Credits…
•  George
Ioannou
 •  Econsultancy.com
 (For
the
Sta1s1cs
in
this
presenta1on)
•  Email:
George@maginus.com
•  Tel:
0161
946
3851
•  Twiper:
@georgeioannou