ANALYTICS & DATA MASTERY A N D C E R T I F I C A T I O N C L A S S
OUR GOAL: To make data approachable & useful! We’ll give you the tools & training to pick the metrics that matter, create accurate reports, and make data driven business decisions.
DATA SHOULDN’T BE SCARY
BIG DATA MAKES IT SEEM INTIMIDATING
WE BELIEVE: There are only 3-5 data points you need to look at daily to assess the health of your campaign.
WE WANT TO TURN THIS…
…INTO THIS
1. SHOW YOU WHERE TO LOOK FOR DATA HOW WILL WE 2. BREAK YOUR DATA INTO 2 CATEGORIES DO 3. BREAK EACH CATEGORY UP BY FUNNEL LOCATION THAT? 4. GIVE YOU YOUR OWN WORKSHEET TO REPORT THIS DATA 5. IDENTIFY 4 DATA ‘LENSES’ FOR EVALUATION @jtrondeau
Solo B2B Ecommerce Preneur Companies Companies Team metrics Small Business with Ecommerce Membership & few to no business metrics Services employees Sales metrics Lead Generation
1. INSTALL GOOGLE ANALYTICS NOW 2. HAVE YOUR OTHER DATA SOURCES HANDY WHILE WATCHING 3. THIS IS A HANDS ON COURSE! 4. AT THE END YOU’LL KNOW WHERE TO LOOK AND ALREADY HAVE YOUR REPORTS SET UP AND READY TO ROLL @jtrondeau
WHAT DATA ANALYSIS ACTUALLY IS…
…AND WHAT IT CAN DO FOR YOUR COMPANY
ANALYSIS True analysis is data with a plan. It’s not enough to know the numbers… you need to know what they mean.
1. ASK THE RIGHT QUESTIONS ANALYSIS IN IF YOU DON’T KNOW WHAT YOU WANT TO KNOW, YOU WON’T KNOW WHAT TO LOOK FOR! FOUR 2. KNOW WHERE TO LOOK THERE IS NO USE ASKING A QUESTION WHERE YOU CAN’T FIND AN ANSWER STEPS 3. KNOW WHAT TO LOOK FOR LOOKING AT THE WRONG DATA WILL HURT YOUR BUSINESS 4. KNOW HOW IT APPLIES YOU NEED TO APPLY THE NUMBERS TO ANSWER YOUR QUESTIONS @jtrondeau
1. CREATING SCOPE THIS CREATES YOUR CONTEXT AND IDENTIFIES THE APPLICATION OF ANALYSIS IN YOUR FINDINGS FOUR 2. PICKING DATA SOURCE THE DATA SOURCES YOU USE WILL VARY, PICK THE RIGHT ONE FOR THE RIGHT JOB STEPS 3. COMPILING DATA LOOKING AT THE WRONG DATA WILL HURT YOUR BUSINESS 4. APPLYING DATA TURNING DATA INTO LEARNINGS THAT DRIVE DECISIONS @jtrondeau
1. HOW MANY ORDERS DO I GET A MONTH? EXAMPLE OF EASY QUESTION & A MUST KNOW METRIC 2. CHECK YOUR ECOMMERCE PROVIDER FOUR YOU CAN ALSO LOOK AT GA, BUT THERE IS LIKELY A MARGIN OF ERROR TO CONSIDER 3. FIND YOUR SALES TOTALS STEPS ALWAYS STAY WITHIN THE SCOPE OF YOUR QUESTION. FIND THE YEARLY TOTAL AND DIVIDE BY # OF MONTHS 4. HOW IT APPLIES BASIC SALES METRIC THAT’S USED FOR OTHER CALCULATIONS @jtrondeau
HOW MANY ORDERS DO I GET A MONTH? EXAMPLE OF FOUR STEPS 17,251 ORDERS/MONTH @jtrondeau
1. WHAT’S MY REVENUE PER VISITOR IN DECEMBER? LESS EASY QUESTION FOR BASIC METRIC EXAMPLE OF 2. CHECK YOUR ECOMMERCE & ANALYTICS FOUR PROVIDER IDEALLY YOU’D JUST LOOK IN GA, DESPITE THE MARGIN OF ERROR YOU WANT TO KEEP THE SYSTEM CLOSED STEPS 3. DIVIDE THE RAW SALES TOTALS BY UNIQUE VISITORS IF JUST LOOKING IN GA, THEN THIS REPORT IS DONE FOR YOU. 4. HOW IT APPLIES BASIC SALES METRIC THAT’S USED FOR OTHER CALCULATIONS. TELLS US THE VALUE OF EVERY UNIQUE VISITOR. @jtrondeau
WHAT’S MY REVENUE PER VISITOR IN DECEMBER? ANALYSIS IN FOUR STEPS $500,000 IN DECEMBER @jtrondeau
WHAT’S MY REVENUE PER VISITOR IN DECEMBER? ANALYSIS IN FOUR STEPS 500,000/275,953 $1.81 per visitor @jtrondeau
1. WHICH TRAFFIC CHANNELS HAD THE BIGGEST IMPACT ON SALES ANALYSIS IN TOUGH APPLICABLE QUESTION FOUR 2. CHECK YOUR ANALYTICS PROVIDER YOU ARE LOOKING FOR TRENDS HERE, STAY WITHIN YOUR ANALYTICS PROVIDER. STEPS 3. IDENTIFY YOUR BEST TRAFFIC SOURCES IF JUST LOOKING IN GA, THEN THIS REPORT IS DONE FOR YOU. 4. HOW IT APPLIES TELLS US OUR MOST SUCCESSFUL CHANNELS AND WHERE WE SHOULD ALLOCATE MORE BUDGET. @jtrondeau
WHICH TRAFFIC CHANNELS HAD THE BIGGEST IMPACT ON SALES ANALYSIS IN FOUR STEPS @jtrondeau
REMEMBER The questions you come up with are based on your campaign and business goals.
WHY ALL BUSINESSES MUST BE DATA DRIVEN
DECISIONS A data driven business can make decisions on more than a hunch.
A BUSINESS WITHOUT DATA CAN’T GROW! YOU’LL LACK SCALABILITY, DETAILED INSIGHTS, AND WILL RELY ON YOUR ‘BEST GUESS’.
ONLY 3 WAYS INCREASE NEW SALES TO INCREASE SALE AMOUNT GROW INCREASE SALE FREQUENCY @jtrondeau
INCREASE NEW SALES REQUIRES BUILDING TRUST WITH NEW TRAFFIC NOT CREATED INCREASE SALE AMOUNT EQUAL REQUIRES NEW PRODUCTS, BUNDLES, OR PRICE POINTS INCREASE SALE FREQUENCY REQUIRES GETTING PREVIOUS CUSTOMERS BACK @jtrondeau
AVERAGES DON’T TELL THE WHOLE STORY USE AVERAGES AS AN INDICATOR THEN DIG DEEP TO FIND EXPLANATIONS AND OPPORTUNITY
Remember an Average is Only an Indicator
Average Conversion Rate Chart
Breaking Into Campaigns
Breaking Into Campaigns
Breaking Into Campaigns
Breaking Into Campaigns
YOUTUBE OUT PERFORMS THE AVERAGE
OLD APPROACH: 60 45 Do we have more money at 30 the end of the month than 15 at the beginning? 0 Jan 1 Jan 31 Sales
WHAT WE DO NOW: DETAILED ANALYSIS TO FIND BETTER OPPORTUNITY (OR EVERYTHING WE WILL COVER IN THIS CERT)
EXAMPLES OF OUR DATA DRIVEN DECISIONS
How Tripwires Indicate Future Lab Sales QUESTION: OF LAB BUYERS WHO BOUGHT AN EP BEFORE THEY BOUGHT LAB, HOW MANY DID THEY BUY?
How Tripwires Indicate Future Lab Sales
How Tripwires Indicate Future Lab Sales WHAT WE LEARNED: WE CHANGED OUR STRATEGY TO PROMOTE MORE EPS MORE OFTEN TO GET CUSTOMERS TO THAT 2 EP THRESHOLD
DOLLAR TRIAL FULL LAB CORE OFFER TAKE - 35% CORE OFFER TAKE - 20% TRIAL TO FULL —- CONVERSION - 60% TOTAL FULL LAB TAKE - —- 21%
21 > 20
CUSTOMER BEHAVIOR TRIAL UPGRADES ACTED THE SAME AS THE FULL LAB CUSTOMERS. CHURN RATE REMAINED CONSTANT.
Dollar Trial Core Offer vs. Full Lab WHAT WE LEARNED: THERE IS MORE OPPORTUNITY TO INCREASE THE TRIAL TO LAB CONVERSION RATE THAN THERE IS TO TWEAK CORE OFFER UPSELL.
SOLO SHOP KEEP IT SIMPLE - KNOW YOUR ‘NEED TO KNOW’ EVERYONE CAN METRICS AND WORK FROM THERE PROFIT FROM MED/LRG LEAD GENERATION COMPANY ANALYSIS BREAK OUT KPIS BY DEPARTMENT MED/LRG ECOMMERCE COMPANY BREAK OUT KPIS BY DEPARTMENT @jtrondeau
ANALYSIS & THE FUNNEL
CUSTOMER CREATION FUNNEL
GOALS VARY AT DIFFERENT STAGES WHY SUCCESS IS MEASURED DIFFERENTLY THROUGHOUT THE FUNNEL SMART ANALYSIS PROSPECT’S LOCATION & BEHAVIOR USES A CHANGES AT EACH STAGE INTERACTION HAPPENS AT DIFFERENT PLACES BASED ON FUNNEL STAGE FUNNEL YOU CAN DIAGNOSE YOUR BUSINESS HEALTH FOR EACH STAGE SIMPLIFIES IDENTIFYING PROBLEMS AND OPPORTUNITIES @jtrondeau
funnel metrics KEY METRICS DRILL DOWN METRICS Branded Search New Visitors GOALS: Share of Search % New Visitors - Acquire New Visitors Content Bounce Rate New Direct Visitors TOFU - Segment New Visitors THE Content Tra f c Split Total Pixeled Audience - Company Branding Initiatives Inbound Links Retargeting Lists Pages/Visit Average Session Length KEY METRICS DRILL DOWN METRICS GOALS: Visitor Recency Blog Comments - Drive Visitors Back to Your Site Banner Click % Individual Post Banner Click % MOFU - Convert Visitors into Leads New Leads Generated Social Media Followers ANALYST’S - Build Social Media Channels Returning Direct Visitors Number of Social Shares Retargeting Lists New Leads Generated KEY METRICS DRILL DOWN METRICS Days to Conversion Promo Email Metrics GOALS: Unit Types Sold Individual Funnel - Convert Leads into Customers Average Order Value Conversion Rates BOFU - Maximize Funnel Conversions Cumulative Conversion O fg ers Tra f c Split FUNNEL Rate for Media Funnels - Maximize Initial Conversion Value O fg ers Bounce Rate Revenue Per Visit Retargeting Lists KEY DRILL DOWN METRICS METRICS GOALS: - Turn Customers into Repeat Customers Membership On/O fg Report Newsletter Email Metrics Tra f c ROI Report Cohort Analysis - Maximize Member Value Retention Report Reputation Score - Reduce Customer Churn Refund Report CLV - Company Branding Initiatives Returning Leads Generated Buyer Recency & Frequency DIGITAL MARKETER
WHAT DATA MATTERS TO YOUR BUSINESS
BUSINESSES HAVE DIFFERENT NEEDS /
BUSINESS 1 Small or New Business
KITCHTOOL.C0 Brand New Digital Business Selling Kitchen Supplies Online
NEW UNESTABLISHED PROPERTIES NEED TO BUILD UP DIGITAL ASSETS BUSINESS LIMITED BUDGET CHALLENGES EXTRA COST-CONSCIOUS IN EARLY STAGES LIMITED TIME NO FULL-TIME EMPLOYEE DEDICATED TO ANALYSIS @jtrondeau
HIGH IMMEDIATE PROFITABILITY MARKETING STRATEGIES SHOULD ROI QUICKLY BUSINESS EFFICIENT DATA PROCESSES GET MEANINGFUL INSIGHTS WITHOUT SPENDING GOALS TOO MUCH TIME ON NUMBERS BUILD BUSINESS ASSETS ENSURE TRACKED DATA CORRELATES WITH BUSINESS GROWTH @jtrondeau
IS THIS YOU?
BUSINESS 2 Digital, eCommerce, and Membership Businesses
YOURHOMEFIT.CO Established Digital Business Selling Home Fitness Membership & Supplements
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