Bend Digital Marketers: Analytics for Decision Making
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The document outlines a guide for using analytics in marketing decision-making, emphasizing steps like prioritizing goals, identifying KPIs, and customizing dashboards. It provides detailed insights on measuring brand effectiveness, lead generation, sales performance, and customer loyalty. Additionally, it discusses establishing benchmarks and automating dashboard reporting to enhance performance tracking.
Bend Digital Marketers: Analytics for Decision Making
- 1. ANALYTICS for Decision Making Katie M. Smith, Marketing Technologist |@katiemsmith |hello@katiemsmith.com
- 2. How do you know... What’s working or not?
- 3. Only 40% of marketing professionals think their marketing is effective. Source: Adobe’s 2013 Report: “Digital Distress: What Keeps Marketers up at Night?”
- 4. How to Use Analytics for Decision Making 1. Prioritize Goals 2. Identify KPI’s 3. Customize Your Dashboards 4. Input and Analyze Data (yee-haw!) 5. Establish benchmarks & goals 6. Update and automate the Scorecard
- 5. 1) What does success look like? Business Goals: ● Brand - more market share ● Leads - increasing inbound leads ● Sales - increasing sales, decreasing cycle ● Loyalty - increasing LTV & Net Promoter
- 6. 1) What does success look like? Marketing Goals: ● Brand - visits/month, referral sources ● Leads - # of form fills & downloads ● Sales - which channels convert best ● Loyalty - # of active customers, churn rate
- 7. 2) Identify performance indicators ● Brand ○ Blog subscribers ○ Email subscribers ○ Social Reach ● Leads ○ Content Downloads ○ Event Registrations ○ Lead Source ○ Lead Quality Score (MQL, SQL) ● Sales ○ Revenue won (annual recurring, monthly recurring, one-time) ○ Conversion rates (lead to customer, visitor to customer) ○ Conversion assists by channel ○ New customer sources (direct, email, offline, organic, paid, referral) ● Loyalty ○ Active Customers ○ Churn Rate ○ Lifetime Value ○ Customer Reviews & Referrals
- 8. 3) Set it up Dashboards to see visually Options: ● Google Analytics Dashboards (free) ● Dashboard Software (i.e. Leftronics) - pulls data from Analytics, Marketing Automation, Social into one ● Google Sheets with Analytics plug in
- 9. Google Analytics Dashboards Dashboards vs. using Analytics as is ● Saves time digging through dimensions ● Can see key indicators quickly ● Can email Dashboards to yourself ● Can share Dashboards across the team ● Can adjust date & filters to key in on segments, and data refreshes instantly
- 10. How to: Setup Google Analytics Dashboards Shortcut: Use templates http://bit.ly/1W747pq Start with 1, create more as insights evolve
- 11. 5) Establish Benchmarks & Goals Under Audience, 3 built-in reports ● Channels ● Location ● Devices
- 12. 5) Establish Benchmarks & Goals Compare Industry Vertical, Country, & Size
- 13. 5) Establish Benchmarks & Goals Other sources of Benchmarking Data: ● Marketing Benchmark Report (Hubspot) http://bit.ly/1M6R81w ● eCommerce Conversion Rates (Marketing Sherpa) http://bit.ly/1nwL3F3 ● Email Benchmarking Reports ○ MailChimp, SilverPop, Marketo
- 14. 5) Establish Benchmarks & Goals Which goals in Analytics to track? ● Form fills on website. To use goals, must re-direct to thank you page. (not iframe) ● Branded Traffic - Visits/Month ● Leads - # of Downloads, email sign ups ● Loyalty - % repeat visits
- 15. 6) Iterate and automate Dashboards ● Adjust layouts to see full conversion path ● Adjust widgets to display best insight (number, timeline, table, pie or bar chart)
- 16. 6) Iterate and automate Dashboards Automate emails to come to you ○ monthly, 1st day of month for stakeholders ○ weekly for people in the trenches
- 17. Links to Resources & Analytics Training ● Read Marketing Performance Blueprint (Roetzer) ● Marketing Performance Spreadsheets http://bit.ly/1pgrd2Q ● Google Analytics Dashboards Templates: http://bit.ly/1W747pq ● Interactive Dashboard in Google Sheets with Google Analytics Sheets Add- on http://bit.ly/1W9ftt1 (Install Google Analytics Sheet Add-on: http: //goo.gl/WefPHR) ● Analytics Academy (Google) - Free ● Inbound Certification (Hubspot) - Free ● www.kaushik.net (Google’s Digital Evangelist) ● blog.kissmetrics.com (Analytics & Conversion Rate Blog)
- 18. bit.ly/decisiondata Katie M. Smith, Marketing Technologist |@katiemsmith |hello@katiemsmith.com