How to Start Using Analytics Without Feeling Overwhelmed

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Transcript of How to Start Using Analytics Without Feeling Overwhelmed

  • Lars LofgrenMarketing Analyst - June 2012 info@kissmetrics.com - Confidential - Do not distribute

    HOW TO START USING ANALYTICS WITHOUT FEELING OVERWHELMED

  • @larslofgren #KISSwebinar

  • Well cover...

    Whats the point of analytics?1

    A treasure map for dealing with data2

    4 Google Analytics tactics you can use right now

    3

  • In business, we build as fast as we can. New projects, new products, and

    new customers.

    How do you know what works?

  • The Lean Startup

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  • Build

  • Measure

  • Learn

  • The more times you go through the cycle, the better your business will be.

    If you want to win, focus on speed

  • Analytics makes the Measure and Learn steps MUCH faster.

    Analytics is critical for measuring and learning

  • TIME FOR THETreasure Map

  • AVOID VANITYMetrics

    Guiding Principle #1

  • These are vanity metrics

  • Vanity metrics make us feel good when they improve but they dont

    help us grow our business.

    No connection to your business

  • In Google Analytics, vanity metrics are everywhere.

    Web analytics is vanity metrics

  • Vanity metrics are a distraction

  • If pageviews go up, what should you do?

    Difficult to take action

  • Improving traffic doesnt necessarily improve your business.

    Be careful with web analytics

  • Google Analytics Tactic #1

    Pageviews1

    Time on site2

    Pages/visit3

    Visits4

    Bounce rate5

  • FOCUS ONCustomers

    Guiding Principle #2

  • Using customer analytics is the easiest way.

    How do we focus on our customers?

  • Even when using web analytics, always focus on your customers.

    What if I dont have customer analytics?

  • How can we tell whats working?

  • This tells us where our customers come from

  • blog.kissmetrics.com/critical-goal-types

    Google Analytics Tactic #2

    How to Setup Google Analytics Goals:

  • Google Analytics Tactic #3

  • I see all this data on my traffic. But where are my customers?

    Always ask yourself this question:

  • DO CUSTOMERS COMEBack?

    Guiding Principle #3

  • Google Analytics gives credit to the most recent traffic source.

    Who gets credit?

  • Conversions get split up

  • We need to track where customers first come from and the total revenue

    we receive from them.

    Only possible when tracking real people

  • This data include returning customers

  • Stop guessing

    Always know how well your marketing is doing.

  • TRACK YOURFunnel

    Guiding Principle #4

  • What steps does someone take to become your customer?

    Define your funnel

  • Funnels track two metrics at each step

    The number of people at each step1

    The percentage of people that move to the next step (conversion rate)

    2

  • Google Analytics Tactic #4

  • blog.kissmetrics.com/critical-goal-types

    How to setup Google Analytics Funnels

  • Most businesses dont have a single path

  • A customer analytics funnel

  • Focus on your business

    Instead of forcing your business to match a Google Analytics funnel, use customer analytics funnels to match

    your business.

  • START WITH YOURBenchmarks

    Guiding Principle #5

  • Every business is unique, establish your own benchmarks.

    Your metrics will be different

  • Compare yourself to yourself

  • 5 Guiding Principles to Find Treasure

    Avoid vanity metrics1

    Focus on customers2

    Find out if customers come back3

    Track your funnel4

    Establish benchmarks5

  • 4 Google Analytics Tactics

    Avoid vanity metrics1

    Setup Google Analytics goals2

    Use those magic buttons for goal data3

    blog.kissmetrics.com/critical-goal-types

    Build a funnel4

  • WHATS THENext Step?

  • When you collect data on your customers, this is even easier.

    Get customer analytics

  • Get reports on real people

  • ITS NOT JUST ANONYMOUS NUMBER...THESE ARE PEOPLE AND I CAN ACT ON THAT.

    Every point of engagement for a customer

  • Why is customer analytics so great?

    Add accountability to your marketing1

    No vanity metrics2

    Build funnels to match your business3

    Know what your customers are using4

  • Who offers customer analytics?

  • Pay an engineer $100,000+ in salary to build it for you.

    Other options?

  • Q&A Time!Lars Lofgren

    llofgren@kissmetrics.com@larslofgren