google think finance 2013- analytics measurement - marco bailetti
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Marco Bailetti
VP, Client Insights Franklin Templeton
Making Measurement Work for You
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What I’ve learned…
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1. The value of Analytics is about timely decisions
2. Meaningful measurement is key
3. Analytics is disruptive
4. Tactics are powerful
5. Start now. Your competitors already have
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1. Decision Making
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The value of Analytics is about timely decisions
Actionable insights + influencing decisions 1
Deliver insights to inform and guide decisions 2
Measure the impact of those decisions 3
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2. Meaningful Measurement
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Meaningful Measurement is Key
Measure what matters: aligned with goals, and
take action
Metrics vs. KPI
Think long term - what is
the lifetime value?
Attribute appropriate
value to each interaction
Measure impact on:
financials, decisions and customers
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Of course everyone reads
all of us cover-to-cover!
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“Cheap” isn’t always valuable
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Google Confidential
Metrics That Matter: Counting vs. Business Impact Profits Revenues
Market Share
Share of Shelf
Lifetime Value
Loyalty
Task Completes Rates
Brand lift and impact
Impressions
Clicks
Cost per click
Clickthrough rate
Website visitors
Reach
GRPs
Likes/Followers/+1s
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3. Analytics is Disruptive
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Analytics is Disruptive
Challenges conventional wisdom. Assuming what worked in the past is still working 1
Changes how your work is valued and measured 2
Challenges what you know, or think you know about your customers 3
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Reduce disruption through Open Collaboration
Engage cross- functional teams early, to align on
KPI
Share insights and feedback
Coordinate and deliver
consistent measurement
message
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4. Tactics are Powerful
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10 good tactics beats 1 brilliant strategy.
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5. Start Now.
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Start Now. Your Competitors Have
Avoid analysis paralysis. Start now, tweak later. 1
Build your ‘Two second advantage’ with Analytics. 2
What are the implications if you don’t act now? 3
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Tools to Get Started
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Pick a Few Goal Posts.
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Pick a few goal posts
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Start with simple goals
• Align on directional goals
• Ask what decision would be made
• Select fewer vs. many
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Measure What Matters.
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GOOD (Well, OK.)
• Viewable Impressions
• CPeM
• Post Click. e.g. Time spent on site per click
Look (and pay) for engagement
Impressions CPM
Clicks
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Conversions – Goal completes
– Assisted conversions
– Micro-conversions
Completion Rates – % of customer visits that completed their primary goal on your site
Digital Engagement Index – Weighted index of metrics that are correlated to sales
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BETTER (Much better than “Good”) Better with performance (output) based metrics that drive to ultimate goal
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BETTER (Much better than “Good”) Understand your user journeys
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BETTER (Much better than “Good”) Visualize your data, engage in a meaningful discussion…
Source: Tableau
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$10,000 Campaign Cost:
20 Online Conversions
80 Offline Conversions
100 Total Mortgage Apps ($100CPA)
10 ‘Actual’ Mortgages (10%)
$5000 LTV per mortgage
= $50,000 Minus $10,000 investment
= $40,000 Profit
BEST Measure Offline + Online, Profits & LTV
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Experiment!
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Call to Action
Image
Testimonial
Link to Ticket Prices
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Pick a few goal posts.
Measure what matters.
Experiment!
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Summary The value of analytics is about decisions based on meaningful measurement. Build a
data-driven culture with open collaboration and incremental tactics. Start now!
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Thank you
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