Impacting Business Performance with Analytics
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The document discusses the impact of analytics on business performance, emphasizing the need for companies to utilize analytics tools effectively to improve performance and decision-making. It highlights the importance of understanding business questions, setting up proper tracking conventions, and providing accessible insights across the organization. Ultimately, the aim is to integrate analytics into the company culture to drive informed actions and improve overall business outcomes.
Impacting Business Performance with Analytics
- 1. Impacting Business Performance with Analytics 12th Nov 2015 Notes in red boxes have been added post presentation to give context to the slides
- 2. G’day, I’m Peter This all keeps me busy… @peter_oneill #emetricsPage 2 I run an Analytics consultancy 28th Oct 2015 I also organise some Analytics events
- 3. Do you already use Analytics to impact business performance? #ilive2015@peter_oneillPage 3 The audience survey showed that: • Nearly everyone had an analytics tool installed • Most people had looked at their data • Half of people looked at it on a regular basis for reporting • Only a few people actually analysed their data • Only a couple had used insights from analytics data to improve their business performance
- 4. To provide intelligence that informs business actions leading to an improvement in performance for online organisations To provide intelligence that informs business actions leading to an improvement in performance for online organisations Purpose of Digital Analytics Page 4 @peter_oneill #ilive2015
- 5. Purpose of Digital Analytics To be more blunt, the purpose of Digital Analytics is: 1. To make your company more money 2. So you get a bigger bonus/pay rise Page 5 Photo Credit: HikingArtist.com via Compfight cc @peter_oneill #ilive2015
- 6. Example of using analytics to impact business performance This retailer appeared to have an issue with their mobile conversion rate #ilive2015@peter_oneillPage 6
- 7. The plan for today Set of Tips & Tricks @peter_oneillPage 7 Photo Credit: HikingArtist.com via Compfight cc #ilive2015
- 8. Page 8 ANALYTICS SET-UP TIPS @peter_oneill #ilive2015
- 9. The 1st task to get value from an Analytics tool Back away from your computer… …what are your business questions? Page 9 © dotmatchbox via Compfight cc @peter_oneill #ilive2015 Before you do look at any reports or even implement analytics, the first action is to think through what information you need from the analytics. Get all stakeholders together and discuss their information needs, the decisions they will be making based on analytics data and the actions they will be taking.
- 10. Three of my learnings re setting up your Analytics tool 1. Don’t aim for perfection 2. Creativity is critical (yes really) 3. Your tracking solution should be aimed at the lowest common denominator Page 10 5 Platinum 4 Gold 3 Silver 2 Core 1 Basic @peter_oneill #ilive2015 Capture useful information, not everything (so available asap) If you can’t think of it, can’t ask dev to capture it So that everyone in the company can understand the data in the reports
- 11. What is included within core information? Page Information Page Naming Convention Page Type URL & Referrer Campaign Tracking Detailed tracking for all channels Macro Conversion Actions Directly tied to business success Visitor Information Visitor Type Customer ID @peter_oneillPage 11 #ilive2015 5 Platinum 4 Gold 3 Silver 2 Core 1 Basic
- 12. Getting the Page Naming Convention right Three rules for any page naming convention One page name per page on the website Hierarchy that groups pages in a logical manner All page names are intuitive so recognised by anyone Example page naming convention for a retailer #ilive2015@peter_oneillPage 12 /homepage /department/<department name> /product-list/<department name> /<product list name> /search-results?term=<search term> /product/<department name> /<product list name>/<product name> /error-page/<error number>-error /checkout/cart /checkout/process/<page name> /checkout/confirmation /store-finder /store-finder/<store name> /account/<page name> /my-account/<page name> /business/<page name>
- 13. Example of content information Title: chinas refined nickel imports rise 59 in september Content ID: 3500554 Category: base metals Author: ellie wang Language: english Image Flag: no Video Flag: no Access Method: homepage article list Publication Date: 2015-10-26 Days since Publication: 16 Recency: recent Number of Words: 265 Length: medium Page 13 @peter_oneill #ilive2015
- 14. Example of content interactions View Article Read Article Based on time on page Based on scrolling to bottom Comment on Article Share Article Via Social Media View email Print Article Add Clipping Click to view another article Sign up with website Page 14 @peter_oneill #ilive2015
- 15. Page 15 ANALYSIS & INSIGHTS TIPS @peter_oneill #ilive2015
- 16. Analysing a website funnel performance Page 16 @peter_oneill #ilive2015 • It is nice to have data showing the number of sessions at each stage of the purchase process • More useful is the completion rate between each stage • If this can be compared against targets • Then focus efforts on the stage with the biggest gap against performance • That has the potential to deliver the highest ROI • Fix what actually is broken, not just what you think you should work on.
- 17. Business Performance Diagnostic Identify underperforming areas Create a list of actions with value per fix #ilive2015@peter_oneillPage 17
- 18. Monitor negative experiences on the website Are negative website experiences an issue for you? 1. Viewing 404 Error pages 2. Experiencing Form Validation errors 3. Returning zero results from an internal search If % Sessions that experience issues is above X%, take action Set own limit but should be below 5% @peter_oneillPage 18 #ilive2015
- 19. Identify the cause of form validation errors Page 19 @peter_oneill #ilive2015
- 20. Identify the cause of 404 error pages From my core tracking recommendations: 1. The full URL of the page being viewed 2. The referrer to this page These can be used to identify the cause of 404 error pages URL that generated error Previous page whether off site or an internal page @peter_oneillPage 20 #ilive2015
- 21. Identify search terms with 0 search results The tracking required is the search term for each search and the number of search results that are returned Get a report of search terms with ZERO search results Fix it so people can find what they were looking for @peter_oneillPage 21 #ilive2015
- 22. The Perfect Report See this… … do that Page 22 © Sport tactic via mind the product @peter_oneill #ilive2015 A client once requested reports where non analytics could see information and automatically act upon it. It is similar to any team sport where, if you train hard enough, you automatically know where to position yourself if a certain play is happening. Creating reports that are similar is incredibly powerful for getting value out of analytics.
- 23. See This, Do That – Merchandise Report A.Most popular product B.The money maker C.Something is wrong D.Another issue here E.Opportunity product, make more visible #ilive2015Page 23 @peter_oneill
- 24. See This, Do That – Content Report Remember all that content tracking earlier? Article #2 – is not actually that good Article #11 – promote everywhere you can Note these reports can also be grouped by category, author, etc #ilive2015@peter_oneillPage 24
- 25. Page 25 COMPANY & PROCESS TIPS @peter_oneill #ilive2015
- 26. Ambition: Analytics Perfection In my opinion, this cannot be achieved when access to the analytics intelligence is available to only the analysts #ilive2015Page 26 @peter_oneill Analysts are vastly outnumbered in any company. If they are the gatekeeper to the information needed by everyone else, they are a barrier to the use of analytics. Analytics MUST be accessible by everyone in the organisation.
- 27. Educate people on the basics – then more HITS – How Idiots Track Success UVs = Users = unique browsers = inflated number Campaign tracking is easy, attribution is hard You can track anything e.g. Weather #ilive2015Page 27 @peter_oneill
- 28. Get the organisation used to seeing analytics data Analytics is not about reporting… …but reporting is critical for analytics #ilive2015Page 28 Executive Summary Ecommerce Top Products Availability Marketing Organic Social Media Content Landing Pages Blog Posts Performance Summary @peter_oneill Analytics tools that exist solely to produce reports is a waste of time. But Performance Reports are valuable so stakeholders don’t need to use complicated Analytics tools. Instead have an automated user friendly source of information delivered when they need it. May still be 30 reports produced BUT everyone only sees the 2 or 3 that they will find useful.
- 29. Then when people start making requests… Once you have educated people, they should start asking questions & making requests If people want analytics support, must first give: 1. An hypothesis of what they expect to see in the data 2. The action they will take based on the data #ilive2015Page 29 @peter_oneill
- 30. Ultimately, Analytics needs to go viral Spread the ideas and usage throughout the company For every new campaign & website feature Success is defined KPIs are defined Targets are set Is tracked properly Performance is evaluated The business learns & improves #ilive2015Page 30 Photo Credit: Postmemes.com via Compfight cc @peter_oneill
- 31. Bringing this all together - my vision for the future Analytics is not having the impact it could be on organisations This MUST change Organisations need to see Analytics as a normal cost of doing business They invest accordingly in the tools and the people Analytics needs to become a recognised career path with education options reflecting this So people can learn these techniques for tracking and analysing data Success takes a long time but is already a reality for some companies Hopefully your organisation is next @peter_oneillPage 31 #ilive2015
- 32. THANK YOU Page 32 I can be found at • peteroneill@l3analytics.com • @peter_oneill • +44 7843 617 347 • www.linkedin.com/in/peteroneill @peter_oneill #ilive2015