Are you drowning in data - Graham Cooke QuBit

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Are you drowning in data - Graham Cooke QuBit

  1. 1. ARE YOU DROWNINGIN DATA?1
  2. 2. YOUR SPEAKER IS…Graham CookeQuBit founder and CEO@thegrahamcooke@qubitproducts2
  3. 3. 3
  4. 4. WEBSITES ARE NOW MORE POWERFUL THAN EVER!4
  5. 5. Website’s 15 years ago... If you build it they will come
  6. 6. 2002 2012
  7. 7. 1995!
  8. 8. 2002 2012
  9. 9. HOORAY FOR CUSTOMER LOYALTYPROGRAMMES!!
  10. 10. WE DON’T KNOW A LOT ABOUT OURCUSTOMERS SIMPLY PUT, WE DON’T KNOW OUR CUSTOMERS WELL ENOUGH! WE DON’T KNOW: WE KNOW: Items browsed Products bought Filter preferences Shop Attendant Prices of items Price tag Items put in basket Name BUYERS BROWSERS Pages visited Address 3% 97% Purchase intent Age Time on site Contact details Reason for leaving Time / Date Level of engagement Number of site visits
  11. 11. COMMON CHALLENGES WITH CUSTOMER DATA ONLINE IT’S VAST….. IT’S DISPERATE…..IT’S NOT GRANULAR… IT’S UNSTRUCTURED… IT‘S CHALLENGING!
  12. 12. DATA VOLUMES Data will grow over the next five years “more data will be created in the next four years than in the history of the planet” Source: Forrester 2011 and Mark Hund CEO HP
  13. 13. DATA VOLUMESTo put things in perspective: Every second (at peak) 3.6k secs uploaded 10k tweets 7k data pings Source: Forrester 2011
  14. 14. DATA SILOES Source:QuBit
  15. 15. DATA SILOES Avg. 30 Tags per website Source: Krux Digital 2011
  16. 16. DATA GRANULARITY MR AVERAGE AVERAGES ARE NOT ALWAYS REPRESENTATIVE
  17. 17. DATA GRANULARITY VISIT CONVERSION RATE = 2.5% VISITOR CONVERSION RATE = 7.8% Source: QuBit Internal – Travel Focus 2011
  18. 18. DATA STRUCTURE of all data is70-80% unstructured10-50X faster growth than structured Source: Computer World 2010
  19. 19. DATA STRUCTUREMaking unstructured data structured Trending Sentiment Specific Topics Feedback Source: QuBit
  20. 20. THE BIG DATA CHALLENGE of companies struggling to gain valuable insights from customer data Shortage of data scientists by the year 2019 Source: 1: Retail Bulletin, 2: McKinsey 2011
  21. 21. 1 Tie your Data together2 Know your online customer3 Get something for nothing using free tools4 If its working, promote it5 Avoid subjective testing
  22. 22. 1. TIE YOUR DATA TOGETHERBeing able to tie data silos together will give you a competitive advantage. Beware ofmaking decisions based on isolated or incomplete data
  23. 23. TOP LEVEL IDENTIFICATION IS ONLY THEFIRST STEP TO IMPROVING THE WEBSITE WHERE IS THE PROBLEM AREA OF THE SITE? TRAFFIC SOURCE PAGE TYPE
  24. 24. TOP LEVEL IDENTIFICATION IS ONLY THEFIRST STEP TO IMPROVING THE WEBSITEWHERE IS THE PROBLEM AREA OF THE SITE? WHAT IS THE SPECIFIC ISSUE? SEARCH OFFER SEARCH TRAFFIC SOURCE 50% 15% 10% EMAIL OFFER PRICE PAGE TYPE 3% 2% 5%WHAT FEEDBACK DID THEY LEAVE? PRICE OFFERS I would have liked the site to state whether or not you can bring hand luggage on bored the plane for 14% free or not. OTHER22% I dont like that prices are always for 2 people. There are a lot of single people who want to go on holiday - 1%OF ALL FEEDBACK particularly this time of the year.RELATED TO PRICE I want to come back later and find the same price but MOVING PRICE BASED CONTENT ABOVE THE am worried I won’t find the same deal HYPOTHESIS FOLD WILL RESULT IN A POSITIVE EXPERIENCE FOR USERS WITH A PRICE FOCUS
  25. 25. 2. KNOW YOUR ONLINE CUSTOMERListening to your customers is critical when building a digital strategy. Using customerdata such as Web Analytics and Customer Feedback can be a valuable source ofinsight but customer segmentation is required to uncover the biggest opportunities
  26. 26. Slide that depicts th
  27. 27. TOP 10 REASONS TRAVEL WEBSITESDON’T CONVERT VISITORS 1. PRICE 2. SITE FUNCTIONALITY TOP 3. ON SITE SEARCH 4. PRODUCT DESCRIPTION 5. ADDITIONAL CHARGES 22% 6. NAVIGATION 7. DISCOUNT/SALE 8. ERRORS/BUGS 9. LATENCY 10. AVAILABILITY
  28. 28. SEGMENTATION BASED ON PROPENSITY ANDVALUE PURCHASERS CLOSE TO EARLY STAGE WILL NEVER PURCHASE PURCHASELOWVALUEMIDVALUEHIGHVALUE
  29. 29. 3. GET SOMETHING FOR NOTHING WITH FREETOOLSThere has been an explosion of technology solutions over the last 5 years and there aresome great FREE tools that you as a Marketer can add to your tool kit
  30. 30. 4. IF ITS WORKING, PROMOTE ITBusinesses that view their marketing and website activity as a cost of sale are ultimatelygoing to win in an increasingly competitive space where traffic acquisition costscontinue to rise
  31. 31. USING MARKETING ATTRIBUTION TO SUPPORTA COST OF SALE MODEL
  32. 32. 5. AVOID SUBJECTIVE TESTINGAny changes that you make to your site should have a defined purpose. Asking why asignal, variation or element is being changed should be the first step to any successfuloptimisation process
  33. 33. THE HIT AND MASS WITH TESTING Test 2 Test 1 THE BLIND TESTERS THE OPPORTUNTY COST THE HIPPO SYNDROME
  34. 34. DATA DRIVEN TESTING TO UNLOCKINEFFICIENCIES AND VALUE45% uplift in revenue from effective prioritisation of opportunities INCREMENTAL REVENUE OPPORTUNITY EASE OF IMPLEMENTATION “Wow, great improvement. Didn’t really believe the results at first! Great work all round. Amazing what can be done, when you have the right data to go by.” (Sarah Strong, Head of Marketing)
  35. 35. BY SEGMENTING USERS YOU CANDELIVER A MORE PERSONALISEDSOLUTION CASE STUDY 10% CONVERSION INCREASE FROM GENERIC TRAFFIC
  36. 36. BUSINESSES THAT TURN THEIR DATA ON COLLECT COMBINE IDENTIFY TEST ACTIVATE 0-1 mth 0-1 mth 1-2 mth 2-3 mth 3+ mth
  37. 37. ANY QUESTIONS?Please email us for all research and case studies presented today.graham@qubitproducts.com

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