Jared WaxmanJared Waxman presents…TheInfluentialAnalystjared@benchmark-analytics.com1

The OpportunityThe “analyst” is the person with the most data and often the most objectivity. Any decent analyst turns data into information and information in recommendations.YET, how often can a large organization really turn on a dime and course correct based on what the data is telling it?Let’s briefly dig into the process of getting insights out of data, and explore some best practices for becoming “The Influential Analyst”Jared Waxman2

Data Insights ProcessInsightsWhat the data means.InfluenceJourney to influence…What you should do about it.Focus of this presentationIncomeCalculate the bottom line impact.3Jared Waxman

Influence: Why is it your job?or?You quantify the opportunity or gapYou’ve got the numbersYou’ve got the skills to understanding themYou’ve got the context and perspectiveYou quantify the results or solutionsTesting or tracking, did we succeed is the question you’ll provide the insights to answerYou “look across” segmentsNo agenda or biases (ok, maybe just fewer)Jared Waxman

One template That highlights path from “insights to income”Lead ‘em into ACTION!Big credit is due to Jim Sterne for his eMetrics talk calling upon analysts to tell the business guys and gals what exactly the data means and what they should go do. Jared Waxman

ConclusionProcess Phase:“Insights-to-Income”InsightInfluenceIncomedoneWhat the data isWhat we did or can do about itSteps we can taketbddataWhat the data meansBenchmarkTargetScale to populationTrend to futureCompare to other prioritiesEtc.Jared Waxman

Steps we can take

tbd

data

Benchmark

Target

Scale to population

Trend to future

Compare to other priorities

Etc.

$1.0M opportunity in CheckoutProcess Phase:“Insights-to-Income”InfluenceInsightActiveWhat the data isWhat we did or can do about itSteps we can takeMake it more clear that you can pay without registeringTurn up proactive chat in checkout visitsAccept payments from international visitors25% of non-logged in visitors who hit “checkout” do not complete their purchase on Foo.comWhat the data meansThis compares to 5% abandonment from logged-in visitors. This represents the ebb of prospects who just ‘change the mind’The process of filling out name and billing causes 20% of checkout initiators to bail.Closing this gap would mean $1.0M additional revenueJared Waxman

Steps we can take

Make it more clear that you can pay without registering

Turn up proactive chat in checkout visits

Accept payments from international visitors

25% of non-logged in visitors who hit “checkout” do not complete their purchase on Foo.com

This compares to 5% abandonment from logged-in visitors. This represents the ebb of prospects who just ‘change the mind’

The process of filling out name and billing causes 20% of checkout initiators to bail.

Closing this gap would mean $1.0M additional revenue

That’s when the analyst needs to get on a “war footing” to turn the insight into income.But a PowerPoint slide is rarely enough to drive action…Jared Waxman

4 Steps for War Path to drive Big GrowthGet air coverCraft the story why we need to go war on this issueMake ubiquitous your propagandaFind a GeneralJared Waxman

Step 1: Get Air CoverDeveloping the insight is one thing. Developing the strategy to get the org to move on it is anotherNeed time to do steps 2-4 belowMay also need to convince the owner we have a quick win or at least the right resources or game plan to succeed. This may need to do legwork investigate general paths forward.Jared Waxman

Step 2: Craft the StoryCraft the story why we need to go war on this issueUncover root cause for why we’re in the situation we’re inCould mean dissecting sacred cowsMost likely means quantifying the relative return on investment vs other current prioritiesJared Waxman

Uncover root cause for why we’re in the situation we’re in

Could mean dissecting sacred cows

Most likely means quantifying the relative return on investment vs other current priorities

Step 3: Make UbiquitiousMake ubiquitous your propagandaKeep the issue front and center. Tomorrow’s “gotta do” bury today’s priorities without an op mech to keep it in the headlinesJared Waxman

Keep the issue front and center. Tomorrow’s “gotta do” bury today’s priorities without an op mech to keep it in the headlines

Step 4: Find a GeneralWho’s annual goal sheet would this relate to?The analyst can’t operationalize the whole go-to-market planBut insights without influence (or advocacy) can leave the outcomes to chanceJared Waxman

The analyst can’t operationalize the whole go-to-market plan

But insights without influence (or advocacy) can leave the outcomes to chance

Personal War Stories – Victory!Pricing PolicyAir Cover: Got ok for ‘skunkworks’ project.Craft the story: Up to X Million visitors a year with negative sentiment. Ubiquity: Sent hundreds of customer verbatims every week to Segment team. Selected verbatims shared weekly at Exec staff.Find a General: Customer churn was indeed on someone’s Annual Goal SheetResult:Finally got OK to run A/B TestOutcomes of test were extremely positiveLaunched new price policySaved company $Millions in re-acquisition costsJared Waxman

The Influential AnalystJared Waxmanjared@benchmark-analytics.com