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Andrew edwards: 5 Essential behaviors for content and technology teams focused on digital ROI. Few organizations can manage effectively Lack of overall standards and benchmarks. "Convergence analytics" is here--but who's doing it right?
Andrew edwards: 5 Essential behaviors for content and technology teams focused on digital ROI. Few organizations can manage effectively Lack of overall standards and benchmarks. "Convergence analytics" is here--but who's doing it right?
Andrew edwards: 5 Essential behaviors for content and technology teams focused on digital ROI. Few organizations can manage effectively Lack of overall standards and benchmarks. "Convergence analytics" is here--but who's doing it right?
Andrew Edwards Essential behaviors for both content and technology teams focused on digital ROI.
Debunking terminology
Common roadblocks and how to overcome them using expertise and technology.
Insights into multi-channel and Convergence Analytics Overview: We Will Cover . . . Analytics Today: a Tough Fight Few organizations can manage effectively Lack of overall standards and benchmarks Quantity of data is ahead of data analysis Terminology getting in the way Frequent uncertainty that data is accurate Flawed data collection Explosion of mobile and how to measure? Difficult to keep tools/tagging/expertise current Difficulty in driving accountability to content teams Where are the experts? Multi-Channel Adds to Complexity Now we can measure. . . Desktop Mobile Tablet Smartphone Ios Android Other (?) CRM Big Data . . .and many other channels Convergence Analytics is herebut whos doing it right? Muted Impact of Analytics Analytics often isolated from decision-makers Reports go to report recipientsbut what do they do with the data? Analysts generate insights . . .but executives may or may not be interested Tendency to focus on global trending data rather than engagement and conversion metrics Internal political impact of success/failure of content (as measured) Can we drive responsibility to content creators? Multi-channel requirements adds to confusion Buzzword terminology clouds the picture The Terminology Challenge Buzzwords favored by vendors and consultantsbut why? As a class, they are relatively imprecise and less important than many would like you to think. Real Time: No agreement on what this is Really means right time Big Data: Lots of data of course Do you even have any?? Predictive: Really means data modeling And forecasting except where its automated
Standardization, Governance, Accuracy and a Repeatable Process. The Data-Driven Organization is: Organized around the intelligence gained from the data it collects about its customer interactions. Good about managing expectations Willing to admit its requirements are not unique Ready to standardize its measurements across digital properties (Governance) Ready to get expertise as needed Open-minded about tools and technologies Eager to improve based on findings Multi-channel aware
Five Essential Practices (1) The Data Driven Organization defines what it wants to measure (knows its KPIs for different channels) Five Essential Practices (2) The Data Driven Organization deploys analytics tools expertly and consistently across all markets (enforces governance and standardization) masters data collection Five Essential Practices (3) The Data Driven Organization analyzes results and makes recommendations (crosses the divide from observation into action) Five Essential Practices (4) The Data Driven Organization creates changes based on data (drives responsibility down to content owners) Five Essential Practices (5) The Data Driven Organization measures again. . .and again (to see what worked) Recognizes that success means continual testing and optimization A Repeatable Process eBusiness 5 Step Optimization
The method by which the Data Driven Organization can get organized A Repeatable Process e5o provides a framework for total web and digital ROI. Properly deployed, it is a complete, repeatable feedback loop targeted at success. It involves business, technical, analysis and creative components that form the basis for a data-driven marketing organization A Repeatable Process Define Drivers Set of goals and targets for web optimization project Clear understanding of success factors for web site Activity Deliverable Benefit Build Metrics Create measurement criteria plus tool configuration Gain critical insight into web performance Plan Actions Map of improvements, based on data analysis Targeted, achievable improvement goals Create Changes* Development and delivery of actual improvements A web site that responds to quantifiable critique Measure Success Evidence of improvement by percentage Proof that the process resulted in. . . . . .Better Web ROI
*may include third party content creation KPI Definition Basics Youll want to improve. . . Stickiness On line Sales Customer Contacts Efficiency/ Productivity Content/Brand E-Commerce Lead Generation Self-Service/ Information If you are a___property. . . The Data Driven Organization Knows How to Categorize its Digital Properties Conversion Basics Reach (Campaigns) Engage (Landing Page/Other Convincing Content) Convert (Visitor performs desired action) Retain (Re-target, up-sell, cross-sell) Key Performance Indicators are almost synonymous with desired actions. When desired actions are performed by the user, that is considered to be a conversion event.
Whether on the desktop or mobile or in an app, the same principles apply.
The four major steps in conversion are shown below. The Data Driven Organization Knows How to Segment Conversion Steps Campaign Awareness Every touch-point is a Campaign Desktop Mobile Social Email Paid, Earned Media . . .and can be measured If you cant identify a conversion-point in a campaign, it isnt one. The Data Driven Organization Knows That Campaigns Must Convert The Importance of QA The Data Driven Organization trusts its numbers
. . .because they've mastered data collection. Tags/Filters Whats Next: Convergence Analytics Convergence Analytics Report 2013 Multi-Channel Analytics Mobile Desktop CRM and beyond A hundred vendors targeting marketers with a very similar story: We can measure anything And show it to you in a dashboard Cohorts, comparison, and false positives . . .but can they really do this? http://efectyv.com/ efectyv/industry-reports/
Convergence Analytics: How it works Convergence Analytics Application Operations Multi-Channel plus Visualization Data extraction Data preparation Data load Data presentation From numerous data sources The Goal of Convergence Analytics A single view of marketing touchpoints Focused on understanding true ROI But. . . Can any one tool promise and deliver? Or are we still in need of vertical solutions? Look in the Mirror Do you recognize your organization? Can you: Define your conversions Measure accurately Change content/architecture based on metrics Are you ready for multi- channel?
Data Driven What Success Looks Like Data Driven Organizations will thrive in a digitized marketplace because they know that: Creativity without Conversion equals Zero * *Rand Schulman Thank You Andrew Edwards Managing Partner, Efectyv Digital aedwards@efectyv.com @andrewVedwards