Date post: | 18-May-2015 |
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1
ARE YOU DROWNING
IN DATA?
2
YOUR SPEAKER IS…
2
Graham Cooke
QuBit founder and CEO
@thegrahamcooke
@qubitproducts
3
4
WEBSITES ARE NOW MORE POWERFUL THAN EVER!
If you build it they will come
Website’s 15 years ago...
2002 2012
1995!
2002 2012
HOORAY FOR CUSTOMER LOYALTY
PROGRAMMES!!
WE DON’T KNOW A LOT ABOUT OUR
CUSTOMERS
BROWSERS BUYERS
3% 97%
WE DON’T KNOW:
Items browsed
Filter preferences
Prices of items
Items put in basket
Pages visited
Purchase intent
Time on site
Reason for leaving
Level of engagement
Number of site visits
WE KNOW:
Products bought
Shop Attendant
Price tag
Name
Address
Age
Contact details
Time / Date
SIMPLY PUT, WE DON’T KNOW OUR CUSTOMERS WELL ENOUGH!
COMMON CHALLENGES WITH CUSTOMER DATA ONLINE
IT’S VAST….. IT’S DISPERATE…..
IT’S NOT GRANULAR… IT’S UNSTRUCTURED… IT‘S CHALLENGING!
DATA VOLUMES
Source: Forrester 2011 and Mark Hund CEO HP
Data will grow over the
next five years
“more data will be created in the next
four years than in the history of the
planet”
DATA VOLUMES
3.6k secs uploaded
10k tweets
7k data pings
To put things in perspective: Every second (at peak)
Source: Forrester 2011
DATA SILOES
Source:QuBit
DATA SILOES
Avg. 30 Tags per website
Source: Krux Digital 2011
DATA GRANULARITY
MR AVERAGE
AVERAGES
ARE NOT
ALWAYS
REPRESENTATIVE
VISIT CONVERSION RATE =
2.5%
VISITOR CONVERSION RATE =
7.8%
DATA GRANULARITY
Source: QuBit Internal – Travel Focus 2011
DATA STRUCTURE
of all data is
unstructured
faster growth than
structured
70-80%
10-50X
Source: Computer World 2010
DATA STRUCTURE
Making unstructured data structured
Specific
Feedback Topics
Sentiment
Trending
Source: QuBit
THE BIG DATA CHALLENGE
Source: 1: Retail Bulletin, 2: McKinsey 2011
Shortage of data
scientists by the year
2019
of companies struggling
to gain valuable insights
from customer data
1 Tie your Data together
2 Know your online customer
3 Get something for nothing using free tools
4 If its working, promote it
5 Avoid subjective testing
1. TIE YOUR DATA TOGETHER
Being able to tie data silos together will give you a competitive advantage. Beware of
making decisions based on isolated or incomplete data
TR
AF
FIC
SO
UR
CE
WHERE IS THE PROBLEM AREA OF THE SITE?
TOP LEVEL IDENTIFICATION IS ONLY THE
FIRST STEP TO IMPROVING THE WEBSITE
PAGE TYPE
22% OF ALL FEEDBACK
RELATED TO PRICE
I would have liked the site to state whether or not
you can bring hand luggage on bored the plane for
free or not.
I don't like that prices are always for 2 people. There
are a lot of single people who want to go on holiday -
particularly this time of the year.
I want to come back later and find the same price but
am worried I won’t find the same deal
PAGE TYPE
TR
AF
FIC
SO
UR
CE
50% 15% 10%
3% 2% 5%
14%
1%
HYPOTHESIS
MOVING PRICE BASED CONTENT ABOVE THE
FOLD WILL RESULT IN A POSITIVE EXPERIENCE
FOR USERS WITH A PRICE FOCUS
SEARCH OFFER SEARCH
PRICE OFFER EMAIL
PRICE OFFERS
OTHER
WHERE IS THE PROBLEM AREA OF THE SITE?
WHAT FEEDBACK DID THEY LEAVE?
WHAT IS THE SPECIFIC ISSUE?
TOP LEVEL IDENTIFICATION IS ONLY THE
FIRST STEP TO IMPROVING THE WEBSITE
2. KNOW YOUR ONLINE CUSTOMER
Listening to your customers is critical when building a digital strategy. Using customer
data such as Web Analytics and Customer Feedback can be a valuable source of
insight but customer segmentation is required to uncover the biggest opportunities
Slide that depicts the customer and data
22%
TOP
1. PRICE
2. SITE FUNCTIONALITY
3. ON SITE SEARCH
4. PRODUCT DESCRIPTION
5. ADDITIONAL CHARGES
6. NAVIGATION
7. DISCOUNT/SALE
8. ERRORS/BUGS
9. LATENCY
10. AVAILABILITY
TOP 10 REASONS TRAVEL WEBSITES
DON’T CONVERT VISITORS
PURCHASERS CLOSE TO
PURCHASE
EARLY STAGE
WILL NEVER
PURCHASE
LOW
VALUE
MID
VALUE
HIGH
VALUE
SEGMENTATION BASED ON PROPENSITY AND
VALUE
3. GET SOMETHING FOR NOTHING WITH FREE
TOOLS There has been an explosion of technology solutions over the last 5 years and there are
some great FREE tools that you as a Marketer can add to your tool kit
4. IF ITS WORKING, PROMOTE IT
Businesses that view their marketing and website activity as a cost of sale are ultimately
going to win in an increasingly competitive space where traffic acquisition costs
continue to rise
USING MARKETING ATTRIBUTION TO SUPPORT
A COST OF SALE MODEL
5. AVOID SUBJECTIVE TESTING
Any changes that you make to your site should have a defined purpose. Asking why a
signal, variation or element is being changed should be the first step to any successful
optimisation process
THE HIT AND MASS WITH TESTING
Test 1
Te
st 2
THE HIPPO SYNDROME THE OPPORTUNTY COST THE BLIND TESTERS
DATA DRIVEN TESTING TO UNLOCK
INEFFICIENCIES AND VALUE
EASE OF IMPLEMENTATION
INC
RE
ME
NTA
L R
EV
EN
UE
OP
PO
RT
UN
ITY
45% uplift in revenue from effective prioritisation of opportunities
“Wow, great improvement. Didn’t really believe the results at first! Great work all round. Amazing what can
be done, when you have the right data to go by.”
(Sarah Strong, Head of Marketing)
BY SEGMENTING USERS YOU CAN
DELIVER A MORE PERSONALISED
SOLUTION
CASE STUDY
10% CONVERSION INCREASE FROM GENERIC
TRAFFIC
BUSINESSES THAT TURN THEIR DATA ON
COLLECT COMBINE IDENTIFY TEST ACTIVATE
0-1 mth 0-1 mth 1-2 mth 2-3 mth 3+ mth
ANY QUESTIONS?
Please email us for all research and case studies presented today.