Lesson 9

Data Driven Marketing and Sales

Presented by:

Richard HegartyCourse Educator

Diploma in Digital Marketing - Part I

Lesson 8 Recap

We gained an understanding of email marketing

You learned how to optimise email for conversion

We explored the different types of emails

We started using the metrics to measure email marketing

Todays Lesson Data Driven Marketing

You will gain an understanding data analysis

You will learn how to optimise web analytics

We will show the importance of return on marketing investment

We will get an understanding of how A/B testing

Summary

Q & A

Data Analysis

Data Analysis

Data Analysis is the process of systematically applying statistical and/or logical techniques to describe and illustrate, condense and recap, and evaluate data.

Data Analysis- Definition

Why is data important in digital marketing ?

Data Analysis

Foundations of Good Practice

Design, strategy, and implementation are all important.

Without the ability to measure – Efforts fall flat

Data Analysis is the only way you will be successful

Data Analysis

All marketers should know, in advance, exactly:How much they can spend!

What they expect to make!

Data can prevent campaigns that will fail.

Data can prevent losing confidence.

Data can prevent missing major opportunities.

Crunch the numbers!!!!

Data Analysis

Correlation Versus Causation

Correlation between two variables does not imply that one causes the other.

• REMEMBER: Correlation does not imply Causation….

Data Analysis

The Importance of Data - Conversions

Having large traffic means you must work intelligently.

Not using data to profile hurts.

Using data badly to profile is often even worse.

Data Analysis

Data Analysis and the Foundations of Good Practice

Data analysis shows us successful content.

We need to understand why our social media is successful.

Changes should be informed by data and track religiously.

Data allows you to build your social media strategy.

What time of day is best for posting content on Facebook?

Data Analysis

Risks of not using data – a bad user experience

Analytics has the answers

We need to know where in our funnel clients fall off.

What are their most preferred parts of our site.

How can we improve every single day.

Data!!!!

Data Analysis

Return on marketing investment (ROMI)

Return on marketing investment (ROMI)

(ROMI) – Definition

Return on marketing investment (ROMI) is the

contribution to profit attributable to marketing (net

of marketing spending), divided by the

marketing 'invested' or risked. ROMI is not like the other

'return-on-investment' (ROI) metrics

because marketing is not the same kind of investment.

Do you know how much it costs to acquire a conversion for your business?

Return on marketing investment (ROMI)

Knowing Your Numbers - Costs and Return

Most people DON’T know:

How much they generate from each client.

How much they currently spend to attract a client.

How much they can safely spend……..

This is worrying to put it mildly – blindfolded marketing!

Return on marketing investment (ROMI)

Knowing Your Numbers – ARPL, ARPA and PPM

• Defining - Average Revenue Per Lead [ARPL]• The total revenue divided by the number of leads.• A must for CPL deals.

• Defining - Average Revenue Per Acquisition/Account [ARPA]• The total revenue divided by the number of PAYING customers.• A must for CPA deals.

• Defining – Percentage Profit Margin [PPM]• The total percentage of all revenue that results in gross profit.• A must for all deals.

Return on marketing investment (ROMI)

Defining - Average Revenue Per Lead• The total revenue divided by the number of leads.

• A must for CPL deals.

• $100,000 revenue per month.

• 1,000 leads.

• $100 ARPL.

• If Percentage Profit Margin/PPM = 40%

• $40 Gross Profit Per Lead.

• This allows you to make informed CPL decisions.

Return on marketing investment (ROMI)

Defining - Average Revenue Per Acquisition/Account• The total revenue divided by the number of PAYING customers.

• A must for CPA deals.

• $100,000 revenue per month.

• 100 Paying Customers.

• $1,000 ARPA.

• If Percentage Profit Margin/PPM = 40%

• $400 Gross Profit Per Acquisition/Account/Paying Customer.

• This allows you to make informed CPA decisions.

Return on marketing investment (ROMI)

Web Analytics

Web Analytics

Web Analytics – Definition

Web analytics is the measurement, collection, analysis and reporting of internet data for purposes of understanding and optimizing web usage.

Web Analytics

What does web analytics allow the marketer to-do ?

Main Players

Google Analytics

Yahoo Web Analytics

Adobe (Omniture Site Catalyst)

Click Tale

Alexa & Quantcast

Web Analytics

Social Tracking Tools

• Hootsuite

• Buffer

• Social Mention

• TweetReach

• AddictoMatic

• IceRocket

• AddThis

• ShareThis

Web Analytics

Why do We Need to Gather Data?

• We gather data to know how much we can spend.

• We gather data to measure the success and failure.

• We gather data to optimize our marketing efforts.

• We gather data to builds our marketing strategy.

Web Analytics

A/B Testing

A/B Testing

A/B Testing

A/B Testing is the activity of posting two different versions of an advertisement, web page, or email to a subset of users for the purpose of seeing whether Option A or Option B elicits better engagement or more conversions.

A/B Testing

What should we A/B test ?

A/B Testing

Emails Web Pages Ads Everything Else Possible

You should A/B Test

A/B Testing - Basics

Only test one variable at a time.

Tests must be run simultaneously.

Gather enough statistically relevant data

What do you want to test? Location of your call to action.

Exact text to be used.

Button colour.

If you can change it test it!

Google Analytics

Google Analytics

Google Analytics

Google Analytics is a freemium web analytics service offered by Google that tracks and reports website traffic.

Google Analytics

What decision can Google analytics help the digital marketer make ?

Why use Analytics?

Conversion Optimization

What to do with visitors to your site?

Improving the conversion rates

Refined the path your visitors

All your visitors want to down the rabbit hole, the trick is finding the right one.

Google Analytics

Buzzword Bingo – Analytics Acronyms

• Hits

• Page Impressions / Views

• Visits

• Unique Visitors

• Average Pages/Visit

• Average Visit Duration

• Bounce Rate

• Percentage of New Visits

Google Analytics

Google Analytics

www.google.com/analytics

Google Analytics

How does it work?

UNIQUE TRACKING ID

PUT ON ALL WEBSITE PAGES

Google Analytics

Google Analytics

Google Analytics

Website Goals

“When it is obvious that the goals cannot be reached,

don’t adjust the goals, adjust the action steps”

Google Analytics

Rewards of Data Analysis

• Real-time understanding of your websites performance.

• An honest understanding of the costs and benefits of you marketing efforts.

• The ability to optimise campaigns before they begin or while they are ongoing.

• Data analysis allows our website and marketing efforts to reach their full potential.

• Allow you to shape your social media posting times, content

• Make informed decisions.

Google Analytics

Who Should be Using This Tool?

• What sites really need to be aware of analytics and need to use it?

• Why is this so important?

• We need to understand the complex reality in which our website lives and breaths.

• The Art of Web Traffic Analysis.

Google Analytics

Implementing Key Learnings/Tips

• Make this part of more than one persons day.

• Always remember its about ROI so be careful how many resources you devote to analysis.

• Use the right tool for the right task.

• Interpreting data correctly.

• Qualitative components.

• Tailor your social media presences to your users, not yourself.

Google Analytics