Data-driven decision-making By: Aaron Maass

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Data-driven decision-making By: Aaron Maass

  1. 1. Data-Driven Decision-Making May 7, 2014
  2. 2. 2 ©MaassMedia, 2014 MaassMedia is a boutique digital analytics firm that helps companies collect and use data to acquire and retain more customers. We work with large enterprises and mid-market clients to design, develop and implement custom improvements to their analytics capabilities that quickly deliver measurable benefits to their bottom-line. • Founded: 2008 • Location: Philadelphia • Specialties: Custom implementation, reporting, analysis, testing, optimization & training • Clients: Comcast, ESPN, Lenovo, Coldwell Banker, NASDAQ, Thomson Reuters, Publishers Clearing House, Waterford Crystal, Verisign, Gore-Tex MaassMedia Background
  3. 3. 3 ©MaassMedia, 2014 “Big Data” Popularity At Record Highs Source: Google Trends Source: Google Keyword Planner
  4. 4. 4 ©MaassMedia, 2014 But Adoption Is Low. Why?
  5. 5. 5 ©MaassMedia, 2014 “People blame the data when they should be asking better questions.” – Nate Silver How are users engaging with my site? How can I make my marketing campaigns more effective & accountable? Am I creating effective content? Where and why are visitors abandoning my shopping cart? How do I improve site interaction? So what?
  6. 6. 6 ©MaassMedia, 2014 How?
  7. 7. 7 ©MaassMedia, 2014 Three Pillars Of Data-Driven Decision-Making People Process Technology + +
  8. 8. 8 ©MaassMedia, 2014 Hire the Right People ?? =vs.
  9. 9. 9 ©MaassMedia, 2014 Put In Place A Process OrientOrient Decide (Hypothesis) Decide (Hypothesis) Act (Test)Act (Test) ObserveObserve OODA LoopThe Elephant and the Blind Men
  10. 10. 10 ©MaassMedia, 2014 Use the Right Technology OODA But… Keep It Simple
  11. 11. 11 ©MaassMedia, 2014 Real-World Examples
  12. 12. Example #1 – DuPont 12 ©MaassMedia, 2014 Question Are the most clicked thumbnail images above the page fold?
  13. 13. Example #1 (continued) 13 ©MaassMedia, 2014 Orientation Clicks on color images were predictive indicators of sales demand! Action Incorporate info into manufacturing forecast model to manage inventory.
  14. 14. Example #2 – Eastman Chemical 14 ©MaassMedia, 2014 Question What are visitors searching for on the website and why?
  15. 15. Example #2 (continued) 15 ©MaassMedia, 2014 Observation Searches on keyword “cost” returned no info on pricing! Decision Redesign search results to provide more detail.
  16. 16. Example #3 – Comcast 16 ©MaassMedia, 2014 Question Why are 6.8% of clicks from homepage on the company logo?
  17. 17. Example #3 (continued) 17 ©MaassMedia, 2014 Observation People click on keywords in the tagline, which were part of the same image! Action Break logo into links that drive prospects to content corresponding to the word.
  18. 18. Example #4 – Lenovo 18 ©MaassMedia, 2014 Workstations had greatest average pageviews and lowest average satisfaction IdeaCentres had the lowest average pageviews and highest average satisfaction Workstations had greatest average pageviews and lowest average satisfaction IdeaCentres had the lowest average pageviews and highest average satisfaction Avg PageviewsAvg PageviewsAvg SatisfactionAvg Satisfaction Question Are high pageviews correlated to low satisfaction? If so, why?
  19. 19. Example #4 (continued) 19 ©MaassMedia, 2014 19 The IdeaCentre main page has a standout Shop Now button, product blurbs, and a comparison matrix The IdeaCentre main page has a standout Shop Now button, product blurbs, and a comparison matrix
  20. 20. Example #4 (continued) 20 ©MaassMedia, 2014 The Workstations main page has none of these three design features The Workstations main page has none of these three design features Decision Test redesigns of Workstation page with comparison matrix, product info and calls-to- action
  21. 21. Example #5 (Partner KnowClick) 21 ©MaassMedia, 2014 Account Creation Checkout > Client’s Conversion Funnel Cart Checkout > Appointment Checkout > ~75% abandon ~56% abandon ~20% abandon • Cart viewers didn’t intend to checkout • Price was too high • Asking for too much personal info • Password req. too complex • Appointment time unavailable Client Questions/ Assumptions •73% had planned to checkout, but... •Not enough information provided to convince them to checkout. • Is an appt. time avail? • Is it really in stock? •Visitors not ready to create an account until they know: • Is an appt. time avail? • Is the product really in stock? •Most abandoners wanted an appointment today (not enabled on site). •Most other visitors loved this page! Orient (Analyze)
  22. 22. Example #5 (continued) 22 ©MaassMedia, 2014 Cart Account Creation Appointment Checkout > Checkout > ORIGINAL CHECKOUT PROCESS Checkout > (moved)(moved) Cart Account CreationAppointment (changed)(changed) See Appointment Times > Continue >Continue > IMPROVED CHECKOUT (per KnowClick Rec’s) (moved)(moved) RESULTS Conversion Rate went from 0.6% to 2.2%. Online Revenue Increased by: ~$29 Million/Year ROI: >400 to 1 (Revenue via cost) 0.6% 2.2% Prior to Changes After Changes Online Conversion Rate
  23. 23. Data-Driven Decision-Making Summary 23 ©MaassMedia, 2014 People Process Technology OrientOrient DecideDecideActAct ObserveObserve + + ??
  24. 24. Thank You! 24 ©MaassMedia, 2014 Aaron H. Maass MaassMedia, LLC p: (215) 545-1515 | c: (617) 803-4120 | f: (215) 220-2674 info@maassmedia.com | www.maassmedia.com LinkedIn: http://www.linkedin.com/in/maassmedia Twitter: @maassmetrics

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