turn meaningful data into revenue - timo luoto, frosmo at frosmox16
TRANSCRIPT
Making data matter
Timo Luoto 25.10.2016
1. Business perspective: Why?
2. Understand your data: What?
3. Benefit from your data: How?
Contents
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• Acquiring data is always an investment.
• Quality of data, is the relevancy of it.
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There’s no such thing as free data
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• We can track practically anything and everything.
• The amount of data does not correlate with value.
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Know what you are paying for
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• To personalise
= Show the right products to the right people
• To be customer centric
= Engage with customer from the very first touchpoint onwards
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What can we use data for?
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“Coffee is what we sell, but it’s not the business we’re in”Howard Schultz, CEO, Starbucks
Great customer experience sells more
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Turning ordinary to extraordinary
1. Treat them as well as you know them
2. Offer them useful recommendations
3. Make them come back for more
Know your customer - who are you selling to
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Find your customers (behind the data)
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Those who come to the site early in the day or week?
Customers, who need the relevant information in their
profession, are more subjective to pay for the info.
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Match the KPI with your goal
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Conversion rate can increase or decrease even if you have done something wrong or nothing at all.
Maybe a poorly designed marketing campaign just ended or some other misguiding link is in the wrong place.
CR bad, sales good → What is your goal?
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Better UX → better business
Speed
With proper use of data, we can cut down costs by not trying things just
based on visions, ideas and opinions.
Insight
Valuable data tells relevant information about our customers so tracking is
our equivalent of a store manager listening to her clients.
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Speed and a lot of knowledge
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