reporting and analytics glean insights that drive results by steve du bois
DESCRIPTION
Examples of common top metrics, statistics, and how to calculate this data in Bronto.TRANSCRIPT
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Reporting and Analytics:Glean insights that drive results
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Why are we talking about data?
Data can make you go crazy.
Common causes ofAnalysis Paralysis: Data overload – too much
information No clear understanding of what
you’re collecting Why are you collecting this data What is the data telling you
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Where is your data coming from?
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Can’t live with it, Can’t live without it
Without data you can’t do analysis… so there is nothing to report
Data can help you gain insights in: What is happening? Why is it happening? What is going to happen?
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Help is on the way…
Today let’s review:
1. Key data points to use in Bronto
2. What should you Analyze?
3. How to make data useable and approachable?
4. How to report on the insights that were found
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Basic metrics to measureSpecifically for an Email Marketer
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Understand why…
…you are doing what you’re doing?
This is what my boss told me to do. This is what we did last year. It looks good to me and I think this will work. All the cool kids are doing it.
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Results
Look at your Opens, Clicks & Conversions…
Delivered
Opens
Clicks
Conversions
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A quick look into your results…
Navigate to the dashboards
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Results
Open Rate will tell you how you are being received by your users… Brand Recognition
1 2 3
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Results
Open Rate Data to Analyze and Segment
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Results
Click Rate & Click Through Rate will tell you how your users are responding to your email message
How many engagements are happening?
Conversion Rate will tell you how much of an impact your message had on driving the user to the site, and how well your site did at closing the sale
Conversions Revenue
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Results
Optimize and Segment with this Click Data
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Compare
Take a quick snap shot
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Revenue
Revenue per Email (RPE) will tell you how effective an email is performing for your company. This is the amount of revenue generated per message delivered.
This is extremely useful when figuring out when to cut out emails from your plan. This is also extremely handy when finding the results of a test.
Example: Is it worth sending 5 messages in my welcome series or 6 messages?
RPE = $$$ / Delivered Emails
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Revenue
In 2011 a MarketingSherpa survey found that just 33
percent of email marketers track RPE; and no one reported
tracking ROI! 90 percent or more of the respondents were
only looking at open and click-through rate.
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Revenue
Average Order Value (AOV) will tell you the average value of all transactions that have taken place
Example:
If 10 orders total $100…
Then the AOV = $10
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Contact Growth
Look at your new contacts & lost contacts…
Sent
Delivered
Opens
Clicks
Conversions
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Contact Loss
Complaint
BounceUnsubscri
be ContactLoss /
Turnover
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Increases and Decreases
To find out the performance between data points use the following formula.
Example:
2011 Total Revenue = $300,000
2010 Total Revenue = $150,000
Total Revenue increased 100% from 2010 to 2011
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Create a Baseline
A Baseline is a measurement and/or calculation used as a basis for comparison.
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Calculating your baseline
1. Start recording your metrics Start with at least the past 30 days worth of data
2. Find the overall average of your send(s)Calculate the average by summing all the sent, delivered, opens, clicks, and conversions... then calculate the average overall rates
DO NOT do an average calculation of all the rates
Not Accurate
Accurate
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My favorite question…
How do my metrics compare to everyone else’s?
They don’t…
Number of Stores 3 in 1 city 9,000+ in 60 countries
Hours per week open
70 86
Employees 30 90,000
Items on the menu 15 40
Customers per day 300 10 million
Worth $100K $1 billion
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The problem is…
There are way too many variables: Sample Size Subject Line Send Time Email Creative Industry Product Offering Market Positioning Sales Cycle Promotions/Discount Offered Seasonality List health/hygiene
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Solution: How are you doing?
The key word here is YOU! It’s less about how everyone else is doing and how do we compare?
Use these aids only if you:
1. Are new to email mktg2. Have NO data of your
own3. Need a jumpstart
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Otherwise…
1. Focus less on others
2. Set baselines based on your performance
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How do we analyze data in BrontoLet’s create paths to success!
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This is what everyone wants know…
What is working the best for me?
What can I do more of to drive more revenue?
What was learned from the testing?
Where do I need to improve?
What does the growth look like?
How much money was made?
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Collect and Organize
Delivery Groups are a collection of deliveries grouped together for the purposes of segmenting and reporting. You can add individual deliveries, messages, or automated message rules to a delivery group.
Delivery Groups will bring organization to your data to help you see right through all the noise.
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Delivery Groups
How to create…
To add a message, delivery, post, and/or automated message rule to a delivery group:
1. Go to Messages->Delivery Groups.
2. Click on the name of the delivery group you want to add deliveries to.
3. You will be brought to the Overview page for that delivery group.
4. Depending on the deliveries you want to add, click Add Deliveries, Add Message, or Add Automated Message Rule.
5. Select the deliveries you want to add.
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Delivery Groups
Be sure to create the following groups:
Time Month, Quarter, Year
Campaigns
Message Type
Tests
Add messages or deliveries to the delivery group at the time of send or after. This takes just 2 clicks and it will take less than a minute to do.
Use your Delivery Groups to create your baselines and gain more visibility.
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Extract the data
I didn’t see that…
12
OR
3
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Dive into the Data
Slice, Dice, Sort, and Analyze
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Overall Year over Year
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ROI Year over Year
Gain the insights to get the most bang for your buck!
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What else…
• How last year’s holiday season perform?
• Which stores or channels are the most productive?
• Which products are driving the greatest profits?
•What is the right coupon to offer?
•What segment is the most engaged?
•What campaigns work the best?
• Is my list growing or shrinking?
•What are the biggest wins and biggest losers?
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Quick and Easy…
Path to more revenue
Export the full marketing delivery group
Sort by revenue then by conversion rate
Path to more engagement
Sort by open rate to find tends in the top performing subject lines
Sort by click rate to see what were the top engaged campaigns
Repeat your successes
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Attribution
Where is my revenue coming from?
Welcome Emails generated 39x the RPE of a Marketing Email Birthday Emails generated 19x the RPE of a Marketing Email
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Attribution
Where is my revenue coming from?
The automated welcome and birthday emails only made up 0.63% of all sends but made up 11.63% of all revenue earned.
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Attribution
Where is my revenue coming from?
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Track list growth by source
Tracking the source comes in very handy
Be sure every point of entry to your email list is assigned to a different source.
Engagement
Revenue
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Reporting Dashboard
Use the predefined reports
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List Growth
List comparison
In the last8 months,
the Active list dropped 1.5%, the Educational
list dropped 1.9%, and the Insider list
dropped 0.3%.
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Inactives
Monitor engagement levels and clean your list
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Inactive Population
Why is list hygiene important?
Save money
Drop dead weight
Focus on the right user
Improve deliverability
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Year to Year Holiday Results
KIS & Focus on one metric at a time
10.86% 13.18%
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Key Takeaways
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Failing to plan is planning to fail
Get educated
Get organized
Determine Baselines
Set KPIs & Goals
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Dive in…
You don’t need a PhD or an advanced degree to read and understand YOUR data.
Keep It Simple
Focus on the right data
Turn the data into results
Communicate
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Some Helpful Sites
http://www.iab.net/guidelines/508676/508905
http://emailstatcenter.com/
http://www.email-marketing-reports.com/
http://www.clickz.com/
http://www.internetretailer.com/home/