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Audit
Analysis
The Case of
Best Buy
Analytics, Reporting,
and Insights Strategy
+
Founded in
1966
Audio
Specialty Store
Rebranded
1983
Consumer
Electronics
HQ in
Richfield,
Minnesota
Company Overview
“Largest consumer electronic retailer
in North America”
+
Leading
Provider
• Technology
products,
services &
solutions
Expert
Service • Geek Squad
Unbeatable
Price
• In-Store and
Online.
Value &
Convenience
• >70% US
population
lives within
15 minutes
Mission
+
“…leading provider of technology
products…”
Over 100
Brands
Thousand
of Products
~$39B Sales
annually
+
House Brands
8 Proprietary Brands
+
“… leading provider of…services
and solutions…”
Store-within-a-
Store Concept
Best Buy App Geek Squad
Store-within-a-Store
+
Mission & Website
Well-promoted on
their current
website
Confident they
will beat any price
www.bestbuy.com
+
KPIs and
Strategy
Audits
Conversions & Tagging
+
Homepage Overview
+
Website Goals
Marketing
• Increase
Brand
Awareness
• Drive Traffic
• Engage
Prospects
• Generate
Leads
• Re-engage
Existing
Customers
Sales
• Generate
More Sales
• Increase
Conversions
Rates
Customer
Support
• Increase
Value and
Customer
Satisfaction
• Build
Relationship
Information
Technology
• Deliver
Great
Performance
• Simplify and
Optimize
Content
Human
Resources
• Attrack and
Recruit New
Employees
• Support
Current
Employees
+
Conversion Events & Values
Macro Conversions
Purchasing a Product(s)
Purchasing Gift Cards
Booking a Service with Geek Squad
+
Conversion Events & Values
Micro
Starting a Shopping Cart
Signing up for a Best Buy Credit Card
Signing up for Best Buy Rewards
Completing a Contact Form
Starting a Chat with an Agent
Conversions
Starting a Registry or Gift List
Creating a Best Buy Account
Placing a Phone Call (Mobile)
Downloading Best Buy's App
Social Media follows, likes & shares
Homepage: Headline
Offerings
Search
Functionality
Value
Proposition
Account
Functionality
Call-to-Actions
Value
Added
+
Key Performance Indicators
Search Functionality
% Visitors using Search
% Zero Result Searches
% Zero Yield Searches
Search to Purchase Conversion Rate
User Story: Marketing/ Website Managers
Accurate results
are positively
correlated to
customer
satisfaction and
revenue
Homepage: Marketing Campaign
Marketing Campaign
Supporting Image
Value Proposition
Supporting Information
CTA
User-Friendly
+
Key Performance Indicators
Marketing Campaigns
Page Stickiness
% High, Medium and Low Click
Depth Visits
Order Conversion Rate per
Campaign
Cart & Checkout Completion Rates
User Story: Marketing Managers &
Business Strategists
The longer time
visitors spend on
the site, the higher
the likelihood of
conversion
Homepage: Below the Fold
Featured Offers
Value Proposition & CTAs
*Gift Ideas
*Most-Viewed
*Featured
Products
+
Key Performance Indicators
Marketing Campaigns
Click Through Rates & Seasonality
New & Returning Buyer Conversion
Rate
Order Conversion Rate
Buyer Conversion Rate
User Story: Marketing Managers &
Business Strategists
Evaluate the
efforts to build
relationships with
customers.
Identify emerging
trends.
Homepage: Below the Fold
In-House Ad
In-House Ad
Homepage: Below the Fold
Subscription Box
Best Buy App
Supporting Information
& Social Links
Site
Map
Resources
+
Key Performance Indicators
Resources & Success
Indicators
% of Visitors Showing Interest
(CTR)
Information Find Conversion Rate
Time Spent and Conversion Rates
Landing Page Stickiness
User Story: Marketing Managers,
Business Strategists and Customer Support
The longer time
visitors spend on
the site, the higher
the likelihood of
conversion
+
Key Performance Indicators
Optimal Mix
+
Advertising &
Marketing
Effectiveness
Audience Segmentation
+
Marketing Overview
• SEO, Referrals,WOM, likes and shares on
social media
Earned
Media
• E-mail marketing
• Social media pages (Facebook, Instagram,
LinkedIn, Pinterest)
• Blog
Owned
Media
• TV advertising
• Banner ads
• Paid digital advertising
• TV Shows sponsorships (Ellen)
Paid
Media
+
Examples
Sponsorships
Promotions
Paid Search Ads
+
Personas
• He is a web and software developer
• He loves coding, technology and all
things internet
• He owns an iPhone 7
• He makes $100k
• He lives in LA
• He owns a lot of tech devices
• He is our loyal customer because we
offer the best prices
• He owns Apple and PC computers
• He is on LinkedIn and Facebook
Mike, 35
• He’s an associate at a marketing
agency and makes $50k
• He’s on LinkedIn, Instagram,
Pinterest and Facebook
• He lives in Brooklyn
• He mostly buys electronics when
it’s on sale
• He owns an iPhone 7
Alex, 27
+
Personas
• He owns a construction
company
• He has an iPhone 6
• He makes $400k per year
• He lives in NYC
• He is on LinkedIn and
Facebook
• He occasionally buys
electronics for his business
and his family
• He is married and has 3 kids
Steve, 52
• She is getting her bachelor degree
in Marketing
• She doesn't work
• She owns a Samsung phone and a
Dell computer
• She is a casual electronics user
• She lives in Connecticut
• She is on Facebook, Instagram and
LinkedIn
• She spends a lot of time on her
phone browsing social media sites
Lily, 21
+
Personas
• He’s a retired businessmen
• He owns an iPhone 5
• Casual electronic user
• He is only on LinkedIn
• He lives in Florida
• He likes to read news and
watch sports, he also likes
to travel because he has a
lot of free time
Joe, 70
• She is a high school
graduate
• She works at McDonald's
• She owns an HP computer
and a Samsung phone
• She makes around $30k per
year
• She lives in North Carolina
• She is always waiting for
Black Friday, Christmas and
other sales
Susan, 29
+
Marketing Best Practices
Incorporate analytics in
every marketing campaign
to better track performance
Set specific goals for each
marketing campaign, also
define main KPIs relevant to
each goal and identify
specific metrics that can be
used to measure outcomes
Utilize an A/B testing
method to improve
advertising and
performance of the website,
as well as to increase
engagement, social shares
and sign-ups
+
A/B Testing
Homepage:
Slideshow vs. Static
International
Audience
+
A/B Testing
More Prominent
CTAs
+
Attribution Model
“The touch points closest in time to the sale
or conversion get most of the credit”
Time Decay Attribution
Audience Segmentation
Behavioral
Benefits/
Needs
Occasional
+
How does Best Buy Make Money
Online?
$$$$
E-Commerce
Brand
Sponsorships
Ad Units
Data: Best
Buy Media
Network
+
Site Monetization
E-commerce Sales
Make money on their page by
charging brands for space and
promotions:
• Brand Pages & Sponsored Items
Very limited advertisement
opportunities for non partners.
• Generally one at the bottom of the page,
and/or one off to the side
• Google ads
Don’t sell their data, but they
work with brand partners to
design campaigns to push to
their customer network.
• Best Buy Media Network
+
Voice of the Consumer
Most important ingredient
Who they are
Suitable Offers
Relevant Information
Before, during & after sale
support
+
Advanced
Analytics
Recommendations
+
Best Practices
Better
Performance
Key Metrics &
Measures
Never-Ending
Optimization
Competitive
Edge
Analytics
Expectations
Thank You
Prepared by Sara
Farris,Vita Savenko
and Bellakarina
Solorzano

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Audit Analysis: The Case of Best Buy

  • 1. Audit Analysis The Case of Best Buy Analytics, Reporting, and Insights Strategy
  • 2. + Founded in 1966 Audio Specialty Store Rebranded 1983 Consumer Electronics HQ in Richfield, Minnesota Company Overview “Largest consumer electronic retailer in North America”
  • 3. + Leading Provider • Technology products, services & solutions Expert Service • Geek Squad Unbeatable Price • In-Store and Online. Value & Convenience • >70% US population lives within 15 minutes Mission
  • 4. + “…leading provider of technology products…” Over 100 Brands Thousand of Products ~$39B Sales annually
  • 6. + “… leading provider of…services and solutions…” Store-within-a- Store Concept Best Buy App Geek Squad Store-within-a-Store
  • 7. + Mission & Website Well-promoted on their current website Confident they will beat any price www.bestbuy.com
  • 10. + Website Goals Marketing • Increase Brand Awareness • Drive Traffic • Engage Prospects • Generate Leads • Re-engage Existing Customers Sales • Generate More Sales • Increase Conversions Rates Customer Support • Increase Value and Customer Satisfaction • Build Relationship Information Technology • Deliver Great Performance • Simplify and Optimize Content Human Resources • Attrack and Recruit New Employees • Support Current Employees
  • 11. + Conversion Events & Values Macro Conversions Purchasing a Product(s) Purchasing Gift Cards Booking a Service with Geek Squad
  • 12. + Conversion Events & Values Micro Starting a Shopping Cart Signing up for a Best Buy Credit Card Signing up for Best Buy Rewards Completing a Contact Form Starting a Chat with an Agent Conversions Starting a Registry or Gift List Creating a Best Buy Account Placing a Phone Call (Mobile) Downloading Best Buy's App Social Media follows, likes & shares
  • 14. + Key Performance Indicators Search Functionality % Visitors using Search % Zero Result Searches % Zero Yield Searches Search to Purchase Conversion Rate User Story: Marketing/ Website Managers Accurate results are positively correlated to customer satisfaction and revenue
  • 15. Homepage: Marketing Campaign Marketing Campaign Supporting Image Value Proposition Supporting Information CTA User-Friendly
  • 16. + Key Performance Indicators Marketing Campaigns Page Stickiness % High, Medium and Low Click Depth Visits Order Conversion Rate per Campaign Cart & Checkout Completion Rates User Story: Marketing Managers & Business Strategists The longer time visitors spend on the site, the higher the likelihood of conversion
  • 17. Homepage: Below the Fold Featured Offers Value Proposition & CTAs *Gift Ideas *Most-Viewed *Featured Products
  • 18. + Key Performance Indicators Marketing Campaigns Click Through Rates & Seasonality New & Returning Buyer Conversion Rate Order Conversion Rate Buyer Conversion Rate User Story: Marketing Managers & Business Strategists Evaluate the efforts to build relationships with customers. Identify emerging trends.
  • 19. Homepage: Below the Fold In-House Ad In-House Ad
  • 20. Homepage: Below the Fold Subscription Box Best Buy App Supporting Information & Social Links Site Map Resources
  • 21. + Key Performance Indicators Resources & Success Indicators % of Visitors Showing Interest (CTR) Information Find Conversion Rate Time Spent and Conversion Rates Landing Page Stickiness User Story: Marketing Managers, Business Strategists and Customer Support The longer time visitors spend on the site, the higher the likelihood of conversion
  • 24. + Marketing Overview • SEO, Referrals,WOM, likes and shares on social media Earned Media • E-mail marketing • Social media pages (Facebook, Instagram, LinkedIn, Pinterest) • Blog Owned Media • TV advertising • Banner ads • Paid digital advertising • TV Shows sponsorships (Ellen) Paid Media
  • 26. + Personas • He is a web and software developer • He loves coding, technology and all things internet • He owns an iPhone 7 • He makes $100k • He lives in LA • He owns a lot of tech devices • He is our loyal customer because we offer the best prices • He owns Apple and PC computers • He is on LinkedIn and Facebook Mike, 35 • He’s an associate at a marketing agency and makes $50k • He’s on LinkedIn, Instagram, Pinterest and Facebook • He lives in Brooklyn • He mostly buys electronics when it’s on sale • He owns an iPhone 7 Alex, 27
  • 27. + Personas • He owns a construction company • He has an iPhone 6 • He makes $400k per year • He lives in NYC • He is on LinkedIn and Facebook • He occasionally buys electronics for his business and his family • He is married and has 3 kids Steve, 52 • She is getting her bachelor degree in Marketing • She doesn't work • She owns a Samsung phone and a Dell computer • She is a casual electronics user • She lives in Connecticut • She is on Facebook, Instagram and LinkedIn • She spends a lot of time on her phone browsing social media sites Lily, 21
  • 28. + Personas • He’s a retired businessmen • He owns an iPhone 5 • Casual electronic user • He is only on LinkedIn • He lives in Florida • He likes to read news and watch sports, he also likes to travel because he has a lot of free time Joe, 70 • She is a high school graduate • She works at McDonald's • She owns an HP computer and a Samsung phone • She makes around $30k per year • She lives in North Carolina • She is always waiting for Black Friday, Christmas and other sales Susan, 29
  • 29. + Marketing Best Practices Incorporate analytics in every marketing campaign to better track performance Set specific goals for each marketing campaign, also define main KPIs relevant to each goal and identify specific metrics that can be used to measure outcomes Utilize an A/B testing method to improve advertising and performance of the website, as well as to increase engagement, social shares and sign-ups
  • 30. + A/B Testing Homepage: Slideshow vs. Static International Audience
  • 32. + Attribution Model “The touch points closest in time to the sale or conversion get most of the credit” Time Decay Attribution
  • 34. + How does Best Buy Make Money Online? $$$$ E-Commerce Brand Sponsorships Ad Units Data: Best Buy Media Network
  • 35. + Site Monetization E-commerce Sales Make money on their page by charging brands for space and promotions: • Brand Pages & Sponsored Items Very limited advertisement opportunities for non partners. • Generally one at the bottom of the page, and/or one off to the side • Google ads Don’t sell their data, but they work with brand partners to design campaigns to push to their customer network. • Best Buy Media Network
  • 36. + Voice of the Consumer Most important ingredient Who they are Suitable Offers Relevant Information Before, during & after sale support
  • 38. + Best Practices Better Performance Key Metrics & Measures Never-Ending Optimization Competitive Edge Analytics Expectations
  • 39. Thank You Prepared by Sara Farris,Vita Savenko and Bellakarina Solorzano