The adjective data–driven means that progress in an activity is compelled by data, rather than by intuition or personal experience. It is often labeled as business jargon for what scientists call evidence-based decision making.
compelled by data… yeah that’s not happen. There seems to be this uptick in people who think they are data driven and yet they can’t even understand some basic data points that are clearly labeled and given to them by someone.
If you think telling me average time on site is data drive, it’s not.
If you think telling me I feel this is right about campaign is data driven, it’s not.
If you think telling me your personal opinion is data driven, it’s not
If you can’t understand basic data points in a spreadsheet, you’re not data driven.
If you can’t pull anything from Google Analytics or MixPanel beyond the basics, you’re not data driven.
If you can’t create a compelling hypothesis from data given to you, you’re not data driven.
There are too many C and B marketers out there who think they have a mature marketing mind and are data driven. They are not. They need to recognize this and increase what they know about data, gathering information and understand what’s going on. It’s 2016.
…as I try to figure out a model that works for startups. It’s not perfect, though it’s a starting point and good is certainly better than perfect so we can launch something and iterate as we go.
If you’re a startup and resources are scarce and you can’t get money to use an attribution vendor (yet), than we’re in the same boat and this post is for you. So today I want to share the framework I’ve started to work on and what shape it has taken. To build this framework I started by answering the 3 attribution questions in my last post.
Defining Success and our Attribution Window
Customer signing up for the service is our main KPI. However, I also look at people subscribing to the blog, downloading an ebook or whitepaper. The last two are tracked because maybe a campaign you thought would be for driving customer acquisition, is actually more suited for blog subscribers or getting people to download an ebook. If your company offered webinars or product demos and you’ve those as goals (or events) in Google Analytics, than you can add that to the spreadsheet below.
I picked a 30 day attribution window for the cookie that sits on a customer’s computer. However, when I think about the effect of a campaign and how long to look at it after it launches. I picked 90 days because we don’t generally have long sales cycles and if someone takes longer than 90 days to convert, it becomes a mess to track. If I had more time I’d look at 180 days after a campaign launches to see its effect on the business. Maybe that will be round two for next year.
The spreadsheet below is what I created when I put everything together. I added in a threshold of $500 for campaigns we track in this birds eye view because anything under that limit doesn’t tend to have enough data to make a proper informed decision that doesn’t risk getting a false positive for you campaign and data. All data is fake below and just to give you ideas of what your could look like.
Last months we talked about running paid search globally while staying a nimble team. Once you’ve launched a global account, you’re going to want to optimize & lower your CPA while growing your business.
One way I like to optimize a global adwords account is by building custom reports in Google Analytics. Custom reports can present different data sets and show:
Which country is driving the most conversions
What times of day are converting e.g dayparting opportunities
What days of the week are we losing market share
Month over month or year over year comparisons
Which products are selling / country
These are just some of the options when building a custom report in Google Analytics. Anytime I’ve said I wish I could see X or slice data by a third or fourth dimension in Google Analytics, custom reports has saved the day. This is especially true if you’re not a fan of pivot tables or don’t want to download thousands of rows of data.
We’re going to take a look at the first option on my list above; which country is driving the most conversions. It’s a basic report but a key one since we can’t easily get that data in AdWords. I deliberately chose not to add each country, outside our top markets, in our global adwords account as I wanted to save time and I wasn’t sure what countries would perform well. Below is what the standard custom report would look like.
The Problem 2016. There are more startups than money, talent or consumers can support or even VC money can fund. We’re reaching a point where the pendulum is swinging back in the other direction for […]