February 4, 2023

Measuring KPIs: Always Capture Diagnostic Metrics

KPI InfluencersEvery executive wants to see the top Key Performance Indicators (KPIs) on a regular reporting cadence. However, when major changes happen in your KPIs, you need to be able to explain what happened, what it means, and what you are going to improve.

Factors Influencing Your Key Performance Indicators
The factors influencing your key performance indicator to the left are a few that I picked as an example. Increases or decreases in your purchase funnels will highly affect your KPIs. The factors I chose on the left are a guess, but there is a way to find exactly what is affecting your KPIs through diagnostic metrics. Your analyst needs to find direct relationships between variables (influencing diagnostic metrics) and your KPI (response variable). [Read more…]

What is Data Driven Strategy for Advertising Campaigns

The goal of this post is to clearly outline the difference between a data driven strategy and a standard campaign strategy. The campaign is a hypothetical and simple situation for a freelance wedding photographer whom wants to advertise on Facebook. The target market are those users whom have a relationship status of “engaged” on Facebook.

Standard Execution of This Facebook Ad Campaign
The photographer creates ad content with a catchy headline, possible promotion, and a link to either their Facebook Fan Page or website. The ads are targeted locally and to only those users with the “engaged” status. The ad budget is set and the ads are run.

[Read more…]

Data Driven Digital Marketing Answers to Difficult Executive Questions

Imagine you are an digital marketer driving a campaign to your company website. Next month you are adding new media to your current marketing mix and your C-level executive asks “What kind of conversion rate should we expect with the addition of new media?’

Executive Focus
Executives only focus on Return on Investment (ROI), or Return on Marketing Investment (ROMI). These are the questions their bosses or shareholders will ask. They have no interest in details or understanding exactly what is happening online, it’s all about money.

Internet Marketer’s Focus
This person has been diligent about collecting data for the campaign and monitoring it for conversion. They have spent countless hours making sure that the media mix is converting the goals they have set out for the campaign. The marketer has done their job researching new opportunities to add to the media mix, but the question the C-level executive has posed is unfair.

[Read more…]

3 Ways To Find Something to A/B Test

Many have questioned what to test. In fact, A/B testing is a growing interest in many organizations where many teams get involved. This makes it quite difficult to control at times as everyone has input on what to test. The following is a way to find tests and prioritize what you should test on your website and mobile apps.

Low Hanging Fruit Method
This method is generally finding the page that performs the worst when it comes to your goals. An eCommerce site it is a page that gets little to no revenue, or transactions. Lead generation websites, it is a page that has a very low form conversion rate. Mobile websites and applications, you want to find the pages with actions that get the least clicks or activities.

[Read more…]

SEO Lift and Brand Effectiveness

When you evaluate the effectiveness of your keywords, you cannot look at the granular most level. Some of your keywords will not have the statistical significance in volume and conversion that will allow you to make a confident decision. This is why it is very important to look at your SEO strategy from a high level.

SEO Lift Measurement
SEO Analysis based on conversion is great, but you may have situations where a keyword had 5 conversions with 10 visits and a conversion rate of .500% which is highly misleading. This is exactly why we measure the Lift in SEO, as it normalizes the traffic volume and the conversion for each keyword. Below is an example of a Lift Measurement report.

custom report


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Is Big Data Going To Make You Rich

The files are large. The complexity is great. Data processing takes time. So where is the money in it?

There is a big difference between the data miners that have a vision and those that do not. In this case bigger isn’t exactly better, it’s just bigger. The software will only pick up the relationships between the variables that you put in and provide you with a statistical output. If those variables have no relationship to your business goals, you’re just spinning your wheels.

[Read more…]