Your smarter data analytics strategy - Social Media Strategies Summit (SMSS) New York 2017
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This document provides an overview of developing an effective analytics strategy, covering key topics such as: - Understanding why an analytics strategy is important for gaining insights from data - Defining the right questions to ask of your data to address business objectives - Implementing the right metrics and processes to optimize performance based on data - Ensuring the right technology, data, people and culture are in place to execute the strategy - Tips for reporting data to different stakeholders and developing the right analytics team The presentation emphasizes that an analytics strategy should start by defining business goals and questions, and focus on using data insights to drive tangible improvements rather than just reporting metrics. Both qualitative and quantitative data are important to
Your smarter data analytics strategy - Social Media Strategies Summit (SMSS) New York 2017
- 1. Your Smarter Data Analytics Strategy Clark Boyd, October 2017
- 2. Hello! I’m Clark Boyd I am a digital marketing consultant and I’m here to talk analytics strategy. You can find me at: @clarkboyd clarkboyd.digital
- 4. Our Agenda ◎ Why do you need an analytics strategy? ◎ How analytics works ◎ Defining the right questions ◎ You can’t optimize what you don’t measure ◎ Putting it into practice ◎ Culture ≥ technology ◎ The people & skills you need ◎ Key tips and takeaways
- 5. 2. The Importance of an Analytics Strategy
- 6. 499,999,999,999 Moments processed by Google Analytics each day
- 7. What Analytics Can Tell Us ● Which channels drive the most conversions? ● What are your leaking buckets (places where people leave your website)? ● Whether people use multiple devices before purchasing your products? ● What are the look-to-buy ratios for your individual products and product categories? ● What landing pages need to be improved and in which channel?
- 8. Why We Need a Clear, Documented Strategy
- 9. The Main Analytics Strategy Challenges
- 10. The Main Analytics Strategy Challenges
- 11. The Main Analytics Strategy Opportunity
- 14. Predictive Analytics in Action: Fort Defiance
- 15. Prescriptive Analytics in Action: Hopper
- 16. Adaptive Analytics in Action: Walmart
- 17. The Three Core Elements of an Analytics Strategy TechnologyData People
- 18. “ Analytics is not about dashboards. It is about driving tangible improvement against business outcomes.
- 20. The Hierarchy of User-Session-Hit
- 21. Adobe vs. Google Analytics Terminology Source: SEER Interactive
- 23. Hits are a Subset of Sessions
- 24. Sample Code For A ‘Hit’
- 30. “ Data without context is meaningless. Web Analytics 2.0
- 32. Analytics and Attribution Analytics Tells us where visitors came from, how long they spent on site, which products they browsed or purchased. Attribution Helps identify patterns and trends across all marketing channels and allows us to give value to the contributions of each activity.
- 33. Irrelevant Data
- 34. Confusing Data
- 35. “ Where is the knowledge we have lost in information? T.S. Eliot
- 36. Examples of Good Questions ● How can we deliver a better experience for customers on a mobile device? ● Are we creating products that align with modern consumer demand? ● Do customers return to our site to make a purchase after viewing our blog content? ● Does my direct mail activity affect traffic levels from specific territories?
- 37. Areas of Investigation Potential Issue Example Questions Data Sources - Where does our data come from? - What data do we need to address our challenges and objectives? Data Quality - Is the data structured or unstructured? - Are there gaps in the data sets? Data Governance - Who is responsible for managing the data? - What data privacy issues do we need to tackle? Internal Processes - How can we evaluate the effectiveness of our analytics strategy? Is relevant data available?
- 39. Tip: Work Backwards to Gain Insights
- 40. Objective: Improve content marketing effectiveness Goal Question Answer Generate more traffic from our content editorial calendar When do people engage with our content? Visits/shares by day and time of day
- 41. Objective: Move into New Markets Goal Question Answer Identify and capitalize on international growth markets In which territories do people engage with our site and buy products? Pages per session by country; sales by territory
- 42. The Process for Defining ‘Good’ Questions 1. Business Objectives 2. Digital Goals 3. Campaign Measurement
- 45. The Analytics Strategy Framework Source: PwC
- 46. Putting the Plan into Action Source: PwC
- 47. 5. You Can’t Optimize What You Don’t Measure
- 48. What we see Typically, we look at a dashboard or just a few key metrics. What exists However, analytics can tell us so much more about what really drives people to make decisions. We just need to know where to look.
- 49. Deciding on KPI’s KPIs have to be structured: ● to provide insight on the right business questions ● to define responses to deviations ● to build consensus on the metrics to be tracked ● to align analytics process to the right business teams
- 50. An Essential (but tricky) Metric
- 52. Implementing CLV
- 53. Client ID versus User ID Google will automatically assign a Client ID to each device. That brings with it some measurement challenges. However, there is an option to implement a User ID.
- 54. Implementing User ID Tracking 1. Enable User ID at the property level of Google Analytics and create a User ID view 2. Include information in the site’s privacy policy. Website owners are required to inform visitors that User ID information is being tracked but is not personally identifiable. 3. Set the User ID to track on all authenticated sessions. This is where help is needed from a developer to tag all pages on the website 4. Ensure sure the User ID is not recording when users are not logged in.
- 55. Macro and Micro Conversions ◎ Sales ◎ PDF download ◎ Video view ◎ Time on page ◎ Pages per session ◎ Sessions by source/medium
- 57. Measurement Pitfall No. 1: Bounce Rate
- 58. Solution: Scroll Depth Tracker http://scrolldepth.parsnip.io/
- 60. Connecting Analytics with BI Tools
- 61. Connecting Data Sources Google Analytics has four scopes that data can live at: User, session, hit (page and/or event), or product. A data connection will also exist at one of these four scopes. Marketing tools like campaign management software or email remarketing will almost always want to connect at the Session level. In Google Analytics, traffic sources and campaign data are session-scoped. User data such as a CRM or a customer database will almost always want to connect at the User level. A/B tests are usually user-scoped as well, since the same user should be served the same test on consecutive visits. Surveys may be user-scoped or session-scoped, depending on the type of questions being asked and whether it’s specific to the user’s current visit to the site. Picking the right scope is critical to making your reports work correctly.
- 63. Data Segmentation User Type exactly matches “Returning User” Country/Territory exactly matches “United States” Ecommerce Conversion Rate > "0.2%" We base segments on the dimensions and metrics in our Analytics reports; for example:
- 64. Adding Cohorts for Context
- 65. Mobile Paths to Purchase There are also many ways to segment your data to see how device types perform. Using ‘Path Options’ allows us to see what role mobile plays, beyond just bringing more traffic over time.
- 66. Primary and Secondary Dimensions
- 69. Tip: Customize Channel Groupings
- 70. Content Marketing Measurement Content groupings can help answer questions including: ● Which content delivers best against our business goals? ● Does our content gain traction over time? ● Can we say that content marketing has a positive impact on SEO? ● Do social shares correlate with increased sales? ● When is the best time for us to promote our content on social media?
- 71. Dealing with Data Sampling
- 73. GA Misunderstanding: Custom Segments
- 74. GA Essentials: Event Tracking
- 75. Turning Events Into Funnels
- 76. Tip: Download Tag Assistant https://chrome.google.com/webstore/detail/tag-assistant-by-google/kejbdjndbnbjgmefkgdddjlbokphdefk?hl=en
- 77. Tip: Install the Chrome Extension https://chrome.google.com/webstore/detail/page-analytics-by-google/fnbdnhhicmebfgdgglcdacdapkcihcoh?hl=en
- 81. Accurate Attribution: Getting Closer...
- 83. The Challenges of Switching Attribution Models ● Expectations of channels are deeply ingrained; attribution requires a willingness to adapt.. ● Changing models means some channels ‘gain’ while others ‘lose’. ● No model is perfect, so we always have to accept that we are going with the best available fit. ● It is important to frame attribution as a much more important area of investigation than just digital marketing. Accurate attribution gleans insight on our customers that we would otherwise never know.
- 84. A Look to the Future
- 86. “ Visualisation is the key to arriving at profound insights, faster
- 88. Factors to Consider ◎ Frequency of report production ◎ Level of analytics literacy ◎ Content within report ◎ Structure ◎ Level of contextual analysis
- 90. ◎ CMO Dashboard
- 93. ◎ Tech Dashboard
- 94. Customizing GA Dashboards ◎ Goals: Business objectives can be grouped into one dashboard. ◎ Segments: Some stakeholders will want to zone in on particular areas of activity or audience segments. ◎ Content groupings: Show how different types of content affect user behaviors.
- 95. Integrating Other Data Sources
- 96. Dashboard Examples ◎ Ecommerce dashboard ◎ Facebook dashboard
- 97. 9. The Team
- 100. Data Has Become Everyone’s Job
- 101. “ A story has no beginning or end: arbitrarily one chooses that moment of experience from which to look back or from which to look ahead. Graham Greene
- 102. The Core Elements of the Team
- 103. The Analytics Center of Excellence
- 104. Developing a Growth Mindset
- 105. Implementing an Analytics Strategy
- 106. Putting the Plan into Action
- 108. Key takeaways: How to develop a smarter analytics strategy ● Begin with the business objectives you want to deliver on and the questions you want to answer. ● Data quality and data management are the building blocks of an analytics strategy. ● Storytelling is an undervalued analytics skill. Think beyond the dashboard to consider what the data tells you about your audience, then convey this narrative using charts and graphs. ● Technology is essential, but so is culture. Analytics needs to be ingrained throughout the organisation in concrete, tangible ways. ● Include a measurement plan that is ambitious but realistic, to demonstrate the progress you have made. ● Document and share your analytics strategy with all relevant teams.
- 109. 2017 Gartner Magic Quadrant for Data Science Platforms Scroll depth plugin GA filters Datorama: How AI is transforming marketing Demo account GA Chrome extension Tag assistant AI and predictive analytics Some Handy Resources and Further Reading
- 110. Thanks! Any questions? You can find me at: @clarkboyd [email protected]