Learn from experts Chris Knoch (VP Marketing, Ready Financial Group), Bill Barnes (VP of Mediative) and Kyle Grant (Senior Sponsored Search Marketing Strategist, Mediative), as they share their insight on:
- Telling a story with your numbers and what they actually mean to the business
- Translating your data into business intelligence
- Defining numbers that impact your bottom line
- Avoiding data paralysis, and much more!
Analytics and Reporting: How to define metrics that actually mean something to your bottom line.
1. Analytics and Reporting: How to define metrics that actually mean something to your bottom line. Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
2. Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
3. Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
4. Hosted by: Bill Barnes VP Business Development,Mediative Guest speaker: Chris KnochVP of Marketing, Ready Financial Group Guest speaker: Kyle GrantSenior Sponsored Search Marketing Strategist, Mediative Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
5. What is my Marketing Goal? Two main situations for direct marketing: Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
6. What is my Marketing Goal? Two main situations for direct marketing: Unlimited Budget: Set target ROI/CPA and maximize order volume or revenue Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
7. What is my Marketing Goal? Two main situations for direct marketing: Unlimited Budget: Set target ROI/CPA and maximize order volume or revenue Limited Budget: Spend entire budget at best possible ROI/CPA Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
8. What is my Marketing Goal? In both cases we need to know ROI… Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
9. What is my Marketing Goal? In both cases we need to know ROI… …so, can I target & monitor my ROI? Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
10. Finding & Optimizing Target ROIExample: Vintage Tub & Bath* *2009-20010 Omniture Case Study Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
11. Challenges Finding “True” ROI Challenge 1: Hard to determine how online ad spend impacted ROI because many salesstarted online but finished offline Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
12. Challenges Finding “True” ROI Challenge 1: Hard to determine how online ad spend impacted ROI because many salesstarted online but finished offline Challenge 2: Setting overall ROI goal based on total ROAS was difficult because Cost of Goods Sold (COGS) varied highly by product Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
13. Proposed Solutions Solution 1: Automated Integration between Call Center, Web Analytics & Ad Spend Management Tool Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
14. Proposed Solutions Solution 1: Automated Integration between Call Center, Web Analytics & Ad Spend Management Tool Solution 2: Data feed of Cost of Goods Sold by Product into same system Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
15. Effects on the ROI Metrics* Examples of effect on metrics down to keyword level: *Dummy Data, but similar to insights gained Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
16. Effects on the ROI Metrics* Examples of effect on metrics down to keyword level: *Dummy Data, but similar to insights gained Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
17. Effects on the ROI Metrics* Examples of effect on metrics down to keyword level: *Dummy Data, but similar to insights gained Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
18. Effects on the ROI Metrics* Examples of effect on metrics down to keyword level: Takeaways: Determine which data sets you need to determine total ROI Get the high level numbers Then seek to get more granular and automated Never stop looking for “truer version of the truth” *Dummy Data, but similar to insights gained Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
19. Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
20. Data into Business Intelligence #1 Complaint from Clients & VPs: Your Dashboard Looks Good, but what does it mean and what should I do about it? Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
21. Analytics Need to Tell a Story Accurate Representation of Exactly Where you Are Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
22. Analytics Need to Tell a Story Accurate Representation of Exactly Where you Are In Comparison with Where you are Going. Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
23. Analytics Need to Tell a Story Compared against your Competition. How fast are you moving compared to them? Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
24. Translate Data Points into Business Intelligence Analysis should reveal the Linkages between Analytics Data and its significance to (Impacts on) the Business. Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
25. Hindsight Insight Foresight Hindsight Data to Drive Insight Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
26. Hindsight Insight Foresight Foresight = Value Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
27. Defining KPIs Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
28. Defining KPIs Key Take-Away: The Common Denominator is Revenue and ROI. Analytics should speak directly to the site performance and its impacts on Revenue. Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
29. Avoiding Data Paralysis There are Hundreds of Metrics and Permutations of Metrics What story are you telling? Use the Business Metrics to start to Diagnose Potential Issues Ask Why Seek to solve the problem, not describe what each person did or did not do. Statistical Relevancy: Is this a one-time fluke or trend? Is the increase in “x” metric a result or fluctuation in the data? Apply upper and lower confidence intervals. Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
30. Diagnosing through Data Linkages Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
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32. Year-over-Year Revenue Growth Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
33. Impact on Branding Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
34. Branding & Revenue Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
35. Branding & Conversions Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
36. Competitive Information Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
37. Purchase Behaviour Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
38. Summary & Recommendations Observations Paid Search is contributing to high ROAS and continuous Year-over-Year Revenue Growth Paid Search is assisting in driving branding initiatives High Correlation between PPC investment and overall completed transactions and is therefore a key driver of overall revenue growth PPC investment has aided in gaining market share Recommendations Long purchase cycle can be shorted with remarketing tactics including email and paid search. Further investment in paid search will continue to contribute to additional revenue opportunities. Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
39. Opportunity Cost = Justification Keyword: Safety Compliance SV: 12,100 / Month AOV @ $1,000 & CVR @ 1% Current Rank: 7 Optimization = Rank: 2 Cost of Not Optimizing: $137,571 Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
40. Hosted by: Bill Barnes VP Business Development,Mediative Guest speaker: Chris KnochVP of Marketing, Ready Financial Group Guest speaker: Kyle GrantSenior Sponsored Search Marketing Strategist, Mediative Q&A Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com
41. Thank you To start building your case for Search contact: Tanya.Harvey@enquiro.com 1.800.277.9997 ext 214 www.enquiro.com Analytics and Reporting – How to define Metrics that actually mean something to your bottom line b2bexpertseries.com