Not So Virtuous cycle Marketing Channels DATA Analysis
and Analytics is like your Refrigerator You expect something ‘new’ each time you open it. You know how many times you open it….
The Analytics Syndrome TM – These conversations are regular!Media Buyer: “We got awesome CTR. We doubled the traffic.”Digital Marketing Manager: “Awesome”Analyst: “Your bounce rate is awful”Digital Marketing Manager: “How do I fix it?”Analyst: “Remove non-qualified traffic”
Our data points are mostly Slow and Disconnected
5 step Solution: Step one is to force us to identify the business objectives upfront and set the broadest parameters for the work we are doing. Sr. Executives play a key role in this step. Step two is to identify crisp goals for each business objective. Executives lead the discussion, you’ll play a contributing role. Step three is to write down the key performance indicators. You’ll lead the work in this stop, in partnership with a “data person” if you have one. Step four is to set the parameters for success upfront by identifying targets for each KPI. Organization leaders play a key role here, with input from Marketing and Finance. Step five, finally, is to identify the segments of people / behavior / outcomes that we’ll analyze to understand why we succeed or failed.
Your Objectives need to be DUMBD = DoableU = UnderstandableM = ManageableB = Beneficial # source: Mr. Avinash Kaushik’s blog
Smart KPIs# source: Mr. Avinash Kaushik’s blog
KPIs& More# source: Mr. Avinash Kaushik’s blog
Mapping overlapping traffic across publishersObservation• Publisher H , I and J had a 100% traffic overlap. i.e. each and every consumer had seen the advertisement from other publishers as wellAction:• Media plan was altered and inventory was shifted publishers having minimum overlapResult: • Removing publisher H, I and J – Less spillage & Cost saving.
Mapping frequency for better creative deliveriesObservation:• In the above example, After Frequency 4, the unique to served impressions wereconsistent but the CTR had dropped from 3% to 1%Probable reason:• This could be because the user had been previously reached via other channels and wasnot interested to click even after seeing the advertisement.Action :• Frequency was capped to 3min and 5 Max for all publishers to avoid the repetitive reach.
Conversion analysis for efficient utilization of budgets Observation • In the above example, Publisher A and D has highest reach, however Publisher E and F have better post click conversions rate. Action: • Media inventory was shifted across publishers having high post click conversion as the marketing objective of the campaign was driving visits to landing page.
Driving deliveries by increasing visibilityObservation:• Publisher D and G had the lowest screen share and visibility duration and had delivered low CTR.Action:• Ad placements were changed on publisher D and G having increased ad visibility.Result:• The CTR of publisher D and G reached the average campaign CTR
Digital: Art + ScienceMost undervalued Analytics tool: Communication