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The Opportunity
The “analyst” is the person with the most data and often the most objectivity. Any decent analyst turns data into information and information in recommendations.
YET, how often can a large organization really turn on a dime and course correct based on what the data is telling it?
Let’s briefly dig into the process of getting insights out of data, and explore some best practices for becoming “The Influential Analyst”
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Journey to influence…
Data Insights Process
Income
Influence
Insights
What the data means.
What you should do about it.
Calculate the bottom line impact.
Focus of this presentation
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Influence: Why is it your job?
You quantify the opportunity or gap You’ve got the numbers You’ve got the skills to understanding them You’ve got the context and perspective
You quantify the results or solutions Testing or tracking, did we succeed is the question you’ll
provide the insights to answer
You “look across” segments No agenda or biases (ok, maybe just fewer)
or ?
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ONE TEMPLATE THAT HIGHLIGHTS PATH FROM “INSIGHTS TO INCOME”
Lead ‘em into ACTION!
Big credit is due to Jim Sterne for his eMetrics talk calling upon analysts to tell the business guys and gals what exactly the data means and what they should go do.
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Conclusion
What the data isWhat we did or can do about
it
• Steps we can take• tbd
• data
What the data means
• Benchmark• Target• Scale to population• Trend to future• Compare to other priorities• Etc.
“Insights-to-Income” Insight Influence IncomeProcess Phase:
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$1.0M opportunity in Checkout
What the data isWhat we did or can do about
it
• Steps we can take• Make it more clear that you can
pay without registering• Turn up proactive chat in
checkout visits• Accept payments from
international visitors
• 25% of non-logged in visitors who hit “checkout” do not complete their purchase on Foo.com
What the data means
• This compares to 5% abandonment from logged-in visitors. This represents the ebb of prospects who just ‘change the mind’
• The process of filling out name and billing causes 20% of checkout initiators to bail.
• Closing this gap would mean $1.0M additional revenue
InfluenceInsight“Insights-to-Income” Process Phase:
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THAT’S WHEN THE ANALYST NEEDS TO GET
ON A “WAR FOOTING” TO TURN THE INSIGHT
INTO INCOME.
But a PowerPoint slide is rarely enough to drive
action…
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4 Steps for War Path to drive Big Growth
1.Get air cover2.Craft the story
why we need to go war on this issue
3.Make ubiquitous your propaganda
4.Find a General
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Step 1: Get Air Cover
Developing the insight is one thing. Developing the strategy to get the org to move on it is another
Need time to do steps 2-4 below
May also need to convince the owner we have a quick win or at least the right resources or game plan to succeed. This may need to do legwork investigate general paths forward.
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Step 2: Craft the Story
Craft the story why we need to go war on this issue• Uncover root cause for
why we’re in the situation we’re in
• Could mean dissecting sacred cows
• Most likely means quantifying the relative return on investment vs other current priorities
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Step 3: Make Ubiquitious
Make ubiquitous your propaganda• Keep the issue front
and center. Tomorrow’s “gotta do” bury today’s priorities without an op mech to keep it in the headlines
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Step 4: Find a General
Who’s annual goal sheet would this relate to?
• The analyst can’t operationalize the whole go-to-market plan
• But insights without influence (or advocacy) can leave the outcomes to chance
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Personal War Stories – Victory!
Pricing Policy Air Cover: Got ok for ‘skunkworks’ project. Craft the story: Up to X Million visitors a year
with negative sentiment. Ubiquity: Sent hundreds of customer verbatims
every week to Segment team. Selected verbatims shared weekly at Exec staff.
Find a General: Customer churn was indeed on someone’s Annual Goal Sheet
Result: Finally got OK to run A/B Test Outcomes of test were extremely positive Launched new price policy Saved company $Millions in re-acquisition costs
