Data-Driven Marketing

Data-Driven Marketing

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  Data-Driven Marketing Startup MarketingBootcamp Cambridge, MA - October 2010
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  “In God wetrust; all others must bring data.” - W. Edwards Deming
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  David Cancel @dcancel
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  Who am I CompaniesAdvisor Investor
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  http://www.performable.com/ @performable
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  The Problem: 98% ofthe people who visit your site, leave never to return.
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  “The average conversionrate in the United States of America whether you're selling elephants or iPods.” Avinash Kaushik - Analytics Evangelist, Google 2%
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  The Solution: Our softwarehelps you find, engage and convert more of your website visitors into customers.
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  Performable Analytics
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  Online Marketing isshifting.
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  Online Marketing ParadigmShift Outbound • “Visitors” not People • Display & Search Advertising • What’s a Conversion? • Website • Get more Pageviews 1st Generation
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  Online Marketing ParadigmShift Outbound • “Visitors” not People • Display & Search Advertising • What’s a Conversion? • Website • Get more Pageviews 1st Generation Inbound • “Leads” not People • Content Generation • SEO Black Magic Hacks • Convert via Brute Force • Acquisition not Conversion • Website + Social Media • Get more Leads 2nd Generation
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  Online Marketing ParadigmShift Outbound • “Visitors” not People • Display & Search Advertising • What’s a Conversion? • Website • Get more Pageviews 1st Generation Inbound • “Leads” not People • Content Generation • SEO Black Magic Hacks • Convert via Brute Force • Acquisition not Conversion • Website + Social Media • Get more Leads 2nd Generation Lifecycle • People & Customers • The Message is the Product • Service not Marketing • Referrals not Affiliates • Conversion not Acquisition • Your Brand is Everywhere • Get more Customers 3rd Generation
• 14.
  Internet Marketing 3.0Different Goal by Joshua Porter Inbound Marketing Lifecycle Marketing Outbound Marketing
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  Relevant Marketing Customer Service Customer Analytics Components of LifecycleMarketing
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  http://www.flickr.com/photos/joao_trindade/4363149160/
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  Optimize your startupfor learning by creating a data-driven marketing framework.
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  Analytics & A/BTesting are also not the answer.
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  Use quantitative &qualitative data to test YOUR assumptions.
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  A/B Testing. MultivariateTesting. Huh?
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  Multivariate Testing isUseless.
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  You are waytoo small to matter.
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  The point oftesting is to prove or disprove assumptions quickly.
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  Multivariate testing leadsto a non-gratifying experience because it takes too long.
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  The vast majorityof sites should only use A/B testing. This means you.
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  Shameless Plug: ABTests.com Learn byexample
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  Always Be TestingJust Don’t be Stupid.
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  The Local MaximaProblem Your Design A Better Design Optimized at Local Maxima Current by Joshua Porter
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  Optimize your startupfor learning not data.
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  The 3 Stepsto Data-Driven Startup Enlightenment
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  Data-Driven Startup Checklist ★Operating Dashboard ★ Conversion Funnel Analysis ★ Cohort Analysis
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  Skip the fancyshit and use Google Spreadsheet. Ghettofabulous.
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  Step 1: TheOperating Dashboard.
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  A single placefor your entire team to see where you suck the most.
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  Company-wide dashboard Everyone!Including interns. Fictional
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  Every initiative hasto map to positive changes in these numbers.
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  Kill all featuresthat don’t improve your operating metrics.
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  Only move tothe second step after you’ve mastered the Operating Dashboard.
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  Step 2: ConversionFunnels
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  Metrics are fun,but Funnels kick ass.
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  Fancy Forget prettyvisualizations
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  Pretty Wasted time
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  Keep it raw& ugly Do this tomorrow morning.
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  Monitor your funnelweekly to see how changes are impacting your business.
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  If you aren’tdoing this you are implementing lots of useless features.
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  Features that willwaste your precious time.
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  Step 3: CohortAnalysis
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  This is the“shot caller” of all analyses. Respect.
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  Cohort Analysis byFred Wilson (post)
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  Without a cohortanalysis you are flying blind.
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  Is your churngoing up or down?
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  You don’t havea clue until you’ve done a cohort analysis.
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  Cohort analytics isin closed beta. Apply at Performable.com.
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  Focus on yourcustomers. Not data.
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  Only one thingmatters.
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  Does anyone careabout your product?
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  Remember that yourgoal is simple!
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  Happy Customers
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  David Cancel Twitter: performable http://www.performable.com ThankYou!