Finding What You Are Looking For: Understanding Analytics Strategy
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The document discusses analytics strategy and provides guidance on developing an effective strategy. It recommends defining the scope of an analytics strategy, setting goals and desired outcomes with measurable targets and results. It also outlines the digital marketing cycle of planning, implementing, and assessing campaigns and provides tips for each step, such as writing a success statement and understanding reporting outputs to evaluate success. The key aspects of analytics strategy are identifying what you want to measure and putting processes in place to track results over time to inform future iterations.
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Finding What You Are Looking For: Understanding Analytics Strategy
- 1. www.ingeniux.comIngeniux Corporation | 2016 Finding What You Are Looking For Understanding Analytics Strategy Eric Hodgson, Ingeniux August 2016
- 2. www.ingeniux.comIngeniux Corporation | 2016 Eric Hodgson Senior Business Analyst About Me • 69.1% of my post-collegiate career has been in higher education digital – 51.7% with a creative agency or CMS – 48.3% with an institution • I have attended 81.8% of all eduWeb Digital Summits
- 3. www.ingeniux.comIngeniux Corporation | 2016 Big Data • Industry revenue growth of 300% in 4 years • Advent of the Chief Digital Officer (CDO) • Data integration at the forefront of IT projects
- 5. www.ingeniux.comIngeniux Corporation | 2016 Is this the right information for me? • Is it relevant to the environment I am currently in? • Does it fill a gap I had in planning for a current project? • Does it change my direction or focus? • Do I have correlating data particular to my institution?
- 7. www.ingeniux.comIngeniux Corporation | 2016 WHAT IS ANALYTICS STRATEGY
- 8. www.ingeniux.comIngeniux Corporation | 2016 “Teenager” by Jared via Flickr | CC BY
- 9. www.ingeniux.comIngeniux Corporation | 2016 Identifying Scope • Campaigns • Departments • Organization “Mamuschka” by S. Faric via Flickr | CC BY
- 10. www.ingeniux.comIngeniux Corporation | 2016 Goal: - Increase revenue Desired Outcomes: - Increased enrollment Strategies: - Expand regional markets Measures & Targets: - Current: 16% of enrollment from connecting states - Target: 20% of enrollment from connecting states Results: - 600 new students from connecting states, resulting in $2.4 million in increased revenue “Strategic Planning” by Management Guru | www.managementguru.net
- 11. www.ingeniux.comIngeniux Corporation | 2016 Digital Marketing Cycle Plan Implement Assess
- 12. www.ingeniux.comIngeniux Corporation | 2016 Plan: Write a Success Statement • Issue • Audience • Action • Channels • Timeframe • Measurement http://www.polyvore.com/
- 13. www.ingeniux.comIngeniux Corporation | 2016 Plan: Define Success • Issue • Audience • Action • Channels • Timeframe • Measurement
- 14. www.ingeniux.comIngeniux Corporation | 2016 Implement: Build Out Your Plan • Design • Messaging • User Flow • Resources • Data Management • Reporting Setup https://www.revinate.com/
- 15. www.ingeniux.comIngeniux Corporation | 2016 Implement: Build Out Your Plan • Design • Messaging • User Flow • Resources • Data Management • Reporting Setup • Channel measurements • Goals and conversions in Google Analytics • Reporting output
- 16. www.ingeniux.comIngeniux Corporation | 2016 Assess: Determine Success • Reporting • Reactions • Adjustments • Final Measures http://www.lifelock.com
- 17. www.ingeniux.comIngeniux Corporation | 2016 Assess: Iterate • Reporting • Reactions • Adjustments • Final Measures • Which channels are not hitting? • Which channels could do more? • Can the landing page be improved? • Do not change the targeted measurement
- 18. www.ingeniux.comIngeniux Corporation | 2016 Assess: Bask in the Glory • Reporting • Reactions • Adjustments • Final Measures • Revisit the Success Statement • What went well • What could have been improved • Recommend next steps • Make data visual
- 19. www.ingeniux.comIngeniux Corporation | 2016 Don’t Forget • Evaluate industry data based on your goals • Plan: Write a Success Statement • Implement: Know your reporting output • Assess: Iterate to maximize results
- 20. www.ingeniux.comIngeniux Corporation | 2016 Eric Hodgson Senior Business Analyst eric.hodgson@ingeniux.com @ehodgso @ingeniux Thank You
Editor's Notes
- This track is full of great sessions on how to get the most out of data. It’s not about how to get data…that’s not the problem. It’s how to find the correct data.
- How many of you have a dedicated data person on your communications team? We’ll hear quite a bit about data in this track over the next couple days. Just to put the industry in perspective: 92 billion dollar industry by 2026. Chief Digital Officer…not in higher education yet (if the position survives – 6% of organizations according to Financial Times in 2015). But the CIO or CTO or CMO will embody this role in some aspects Data integration. The steps to put a dashboard in front of key administrators. To have relevant information at your fingertips. This is important. The CDO’s job is to convert a traditionally analog organization to a digitally-focused business. In the end, we’re asking more questions. We’re being asked more questions. And with the ease of data access and the number of channels available, we have to be smart with our dollars.
- We’re presented with a lot of information day in and day out. It fills our inbox overnight. It dominates our twitter feed. Did you know that in 2016: Digital marketing spending has increased 12% from 2015 compared to traditional marketing that decreased 2% YouTube ads have brought higher ROI than TV ads for the past three quarters Using video on landing pages can increase conversion by 86% 80% of internet users own a smartphone 63% of British users are more likely to open an email with an emoji. To forecast, by 2021, marketers will spend 75% of their dollars on digital, up from 70% in 2016 There is now a thing called a “Chief Data Officer”
- Even our own information can not quite fit correctly. Plenty of information available in tools like Google Analytics, but what is really important. I have a New England client that has recognized it’s next recruiting market is Florida and the Southwest. How can GA help here? Data visualization is important here. Tools like Tap Analytics or Tableu allow you to pull in data to present information in a visual format. Don’t stop here. Start here. Today, we’re going to talk about Analytics Strategy and how to Plan, Implement, Assess
- At the end of the day, Analytics Strategy allows you to answer the right questions. Did your campaign get you what you wanted? Is it time to redesign? Has our investment in a portal helped?
- Digital marketing is daunting, but fundamentally, we have to answer one question: Did you get him to do what you wanted him to do? Did he do it online? Did it take him 10 visits? Did it take him 5 actions? We’ve been doing funnel analysis for years for prospective students. This is a great practice for all your audiences. “Teenager” by Jared via Flickr | CC BY
- (Matryoshka dolls: matreska) There are now layers of analytics to take advantage of. It is now very action-oriented. A landing page on the site now can have a multi-source rollout with a singular focus. We go through three chunks here.: Definition, Measurement, Success This is not: We need to be on snapchat (Channels aren’t goals, they are vehicles) We need “more” applications (More isn’t a definition) Instead, write your Success Statement Opportunity to attack a new market Specific problems in retention
- We can put any of these up here. You’ve seen them before. We have approached goals at a macro level. They fundamentally work, but what’s a flaw? Iteration and action
- You will notice the “Plan” phase is twice as big as implement, four times as large as assess. This is time-based and effort-based. You should be spending your time asking questions, not figuring out how to answer them.
- (Matryoshka dolls: matreska) There are now layers of analytics to take advantage of. It is now very action-oriented. A landing page on the site now can have a multi-source rollout with a singular focus. We go through three chunks here.: Definition, Measurement, Success This is not: We need to be on snapchat (Channels aren’t goals, they are vehicles) We need “more” applications (More isn’t a definition) Instead, write your Success Statement Opportunity to attack a new market Specific problems in retention I have a template for this. Email or tweet me if you want it.
- Baseline past results: First, what is your starting point. Increase completed forms by 50% doesn’t help if we don’t know where we begin. Measure the entire experience. You will need this for adjustments. Work backwards from the action to the channel. Impressions to clicks, clicks to time on page, clicks to actions Don’t forget demographic breakdown. Identify tools per channel. If the campaign involves facebook, a hashtag, a landing page, a YouTube video, and an action; incorporate facebook insights, landing page traffic, YouTube analytics, GA goals/conversion Identify your internal stakeholders and how they want to see data. If you don’t ask, you’ll either spend a lot of time trying to find the information or won’t be able to come up with the number. Define the number.
- For the reporting output, look to data visualization. Get the data into a aggregated form.
- Who has seen this LifeLock commercial? The story is, the bank is being robbed and he is a security monitor. They ask, why aren’t you doing something about this. He says I am a security monitor. I only alert you if there is a robbery….there’s a robbery. You can’t stop at the numbers. This is an active process. Improve, adjust, improve adjust.