How to prove your worth with data analytics and metrics
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This document discusses how to use data and analytics to demonstrate value and worth when pitching to customers. It recommends measuring key metrics like conversion rates, returns on investment, and sales funnels to show how investments can increase revenue and profit. Examples are given of how to illustrate potential revenue increases from raising conversion rates or attracting more visitors, highlighting data's ability to accurately quote potential returns from proposed work or campaigns.
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How to prove your worth with data analytics and metrics
- 1. How to prove you’re worth a million dollars Ruth Cheesley Notes will be uploaded on docs.joomla.org/seo
- 2. @RCheesley
- 3. @RCheesley I’m a data nerd!
- 4. @RCheesley © Stuart Miles - Fotolia.com How does value connect with pricing?
- 5. @RCheesley I can identify indicators of success when working with website projects © ayutaka - Fotolia.com
- 6. @RCheesley I know how to use analytics to demonstrate success indicators © ayutaka - Fotolia.com
- 7. @RCheesley I can confidently use data to give examples of projected value in quotes and sales © ayutaka - Fotolia.com pitches
- 8. One accurate measurement is worth more than a thousand expert opinions @RCheesley Admiral Grace Hopper
- 9. @RCheesley Why should you measure? © Web Buttons Inc - Fotolia.com
- 10. @RCheesley If you don’t measure, you don’t know © Web Buttons Inc - Fotolia.com
- 11. The price of light is less than the price of @RCheesley Always live on the light side © thinglass - Fotolia.com darkness Arthur C. Nielsen
- 12. @RCheesley Raise your game © thinglass - Fotolia.com
- 13. @RCheesley What should you measure? © Web Buttons Inc - Fotolia.com
- 14. @RCheesley What is our ‘most wanted action’? wordle.net
- 15. @RCheesley What is important to our customer? © Web Buttons Inc - Fotolia.com
- 16. @RCheesley What stops people completing actions? © Tim - Fotolia.com
- 17. Conversion - a visitor has completed a @RCheesley Some key terms © Tim - Fotolia.com specific action Conversion rate - the percentage of visitors who complete a specific action Return on investment - what benefit the client receives for the money they invest
- 18. @RCheesley When should you measure? © Web Buttons Inc - Fotolia.com
- 19. @RCheesley Start where you are!
- 20. @RCheesley A continuous process © Andrey Kuzmin - Fotolia.com
- 21. @RCheesley Create a checklist © CG Inspiration - Fotolia.com
- 22. @RCheesley How should you measure? © Web Buttons Inc - Fotolia.com
- 23. @RCheesley Google Analytics (or alternative)
- 24. @RCheesley Google Adwords conversion tracking
- 25. @RCheesley Tag management made simple
- 26. ‘ecommerce analytics/tag manager’ ‘<shop name> ecommerce analytics/tag @RCheesley extensions.joomla.org manager’ Ecommerce Analytics
- 27. @RCheesley /some-landing-page Know your expected behaviours © Web Buttons Inc - Fotolia.com /cart /confirmation /thank-you
- 29. @RCheesley Value is assigned by e-commerce tracking Ecommerce funnels
- 31. @RCheesley Conversion in action
- 32. @RCheesley Tag manager for AdWords conversions
- 33. @RCheesley It’s what you do with it that counts!
- 34. Visits to site per month:5000 Current conversion rate: 1% Volume of sales/enquiries: 50 Average order/enquiry value:$100 Revenue per month: $5,000 Visits to site per month:5000 Conversion rate: 3% Volume of sales/enquiries: 150 Average order/enquiry value:$100 Revenue per month: $15,000 Net return on investment: $5,000 What if you invested $10,000 in improving your website and SEO, with an aim to increase your conversion rate to 3%? Based on data we’ve analysed from your site, we project this would result in increasing your monthly revenue from $5000 to $15000 - a net return of $5000 on your $10,000 @RCheesley Pitch to customer investment that keeps on giving. Using numbers to show your worth
- 35. Visits to site per month:15000 Current conversion rate: 3% Volume of sales/enquiries: 450 Average order/enquiry value:$100 Revenue per month: $45,000 Net return on investment: $25,000 Visits to site per month:5000 Conversion rate: 3% Volume of sales/enquiries: 150 Average order/enquiry value:$100 Revenue per month: $15,000 What if you now invested $10,000 in a closely targeted paid media campaign, to attract more interested visitors to your site with the aim of increasing the visits by 10,000 per month? Based on the data we have from your site, we would project an increase in revenue per month from $15,000 to @RCheesley Pitch to customer $45,000, representing a $25,000 net return on investment. Using numbers to show your worth
- 36. What if you now invested $10,000 in a closely targeted paid media campaign, to attract more interested visitors to your site with the aim of increasing the visits by 10,000 per month? In past campaigns customers received on average a $35,000 net return on investment from this kind of @RCheesley Pitch to customer campaign. What else can we illustrate with data?
- 37. @RCheesley How can we share data with clients?
- 38. @RCheesley Use data to quote accurately © Natis - Fotolia.com
- 39. @RCheesley © Marek- Fotolia.com
- 40. @RCheesley Yes we can!
- 41. Thank you! Any questions? ruth.cheesley@viryagroup.com @RCheesley / +RuthCheesley