How To Do Attribution Modeling & Budget Allocation

mouse-click-money-shutterstock In my last post, I covered customer lifetime value calculations and how to leverage CLV to identity high- and low-value audience segments. One of the most effective use cases for CLV is around budget allocation. Combining channel attribution modeling and CLV calculations, we can make highly calculated decisions around which channels are over- versus under-performing. Audience modeling is about understanding what distinguishes a high-value user from a normal or low-value user on site. The next logical step is to go back and determine which channels are driving those high value visitor [...]


The Secret Sauce Of Marketing Analytics: The 5W1H Framework

5W1H_shutterstock Today, I am going to reveal my secret sauce for marketing analytics. This simple method is so powerful that anyone can start applying it today to any sort of descriptive analysis, and it will start producing results from day one. What’s better, this method does not require any sort of prior knowledge or skill set such as statistics or database querying: anyone from a new grad to the seasoned veteran can use it to get better results. The catch? It’s hardly a secret; everyone knows how to do it. In fact, you probably learned it back in primary or secondary school. The method I am talking [...]


Is It The Site, Or Is It The Analytics? Debugging Google Analytics

The Tag Assistant Extension in the Chrome Web Store As I've said in previous columns, marketers can no longer rely on their communication skills alone to get the job done. They must become scientists of a sort, skilled at measuring and reporting on their digital properties. The tools now exist to help us learn so much about our visitors. But, to paraphrase a famous quote, "With great power comes great potential to screw up." The only thing more heartbreaking than a poor converting website is a high-converting website with broken analytics. Are you getting the credit you deserve? Is a bad analytics setup hiding your true performance? I [...]


3 Steps To Factoring In Upper-Funnel Metrics & Predicting Revenue

Multi-Touch & Multi-Action Conversion Funnel Example If you're an online marketer that wants to improve conversions on your direct-response channel(s), this column will help you to create a multi-touch and multi-action predictive model for your conversion funnel that allows you to make better budget allocation and bid optimization-related decisions. Start by focusing on two issues. First, not only should the end conversion numbers be tied back to all touch points in the funnel, but you also want to be able to track conversions across channels and use the adequate technology to do so. Secondly, one should also use any meaningful upper- [...]


3 Steps To Get Started With Cross-Channel Analysis

analytics-600 We are currently living through a Cambrian-level explosion of marketing channels. It seems like there is a new channel or device popping up every year, each with a new set of metrics, media and strategies. In the future, each marketing manager or analyst will be responsible for managing media across a greater number of different channels, networks and devices. This calls for some changes in how we analyze and report on marketing results: There will be a need to consolidate marketing metrics across different channels: hundreds of different metrics across dozens of channels is simply n [...]


How To Leverage Wikipedia Data For Deeper Consumer Insights

WIKI_SCREEN Whenever we try to get a better understanding of online consumer behaviors, we tend to look to Google for answers -- either via the Google Keyword Planner to understand the quantitative volume of searches (aka the consumer interest) or by looking at Google Trends to understand trending and seasonality. Anyone working in search knows the downfalls of using these tools. Primarily, the data are aggregated by either week or month, removing any opportunity to explore daily or day part trends. The data are also heavily delayed -- and, living in today's adaptive real-time environment, we need the [...]


Using A Google Tag Manager Listener To Get Your Real Bounce Rate

The difference in bounce rate when the 15 second event is added. Frustrated by your bounce rate? Does it stay stubbornly high at 60% or more? I was frustrated, too -- until I realized that Google Analytics doesn't track bounce rate fairly. A bounce is any visit for which the visitor only looks at one page and does not interact with it. If you're publishing a blog, this is truly unfair as someone may spend minutes reading a post, and still be counted as a bounce. This is what I call the Boing Fallacy. My friend and fellow Converterati, Bryan Eisenberg, pointed me to a simple solution by Aris Abramian on the eWeb Marketing blog. This solution crea [...]


Your Guide To All Things Hashtag Analytics & Optimization

Diet Coke #ShowYourHeart Campaign Hashtags. You've heard people talk about them, you've seen them on Twitter, but have you added them to your marketing toolbox? If not, let me show you how you can use hashtags to turbocharge your marketing efforts. [youtube]https://www.youtube.com/watch?v=57dzaMaouXA[/youtube] #Origins The present use of hashtags dates back to 1988, when early internet users began including them in messages on the popular chat platform IRC. They were used to group messages, images and videos into categories. Hashtags reappeared on Twitter in 2007 when Nate Ritter used the hashtag #sandiegofire at the e [...]


The Three Layers Of Data And Analytics Success

Heading toward the data... With the data age well and truly upon us, the struggle to keep up is a challenge faced by virtually every organization. And in a time where the majority of marketers didn't grow up with iPads or smartphones in hand, these can be difficult waters to navigate. Swimming In Oceans Of Data While everyone seems to agree that the sheer volume and expanse of data available today is key to unlocking business value, getting to the point where data is actually driving organization-wide decision-making has proven difficult. Like a child visiting the beach for the first time, we've run down to the [...]


How Much Should You Spend On Optimization? Calculate Your BUU

shutterstock_157334462-scale-tools-money Analytics platforms. Split testing software. User testing tools. This is starting to sound expensive. And it is. What if it were more expensive not to have these things in your online business? It might very well be. Your business may be one of the many that is hobbled by a “launch and hope” approach to digital marketing. Not every business will benefit from such tools, but yours may. How much will you benefit? How much does it make sense to spend? This is an exercise in budgeting for website optimization. We will show you how to calculate a Basic Upside Unit (BUU) and h [...]


Marketers: The Busier Things Are, The Less You Should Be Testing

Adobe Real Time Analytics Dashboard Any experienced A/B or multivariate tester has probably encountered a situation similar to the following: You are put in charge of testing a new design on the company website. You set up the test with your testing platform, making sure that visitors are randomly assigned to the old and new experiences. A few days later, you check back on the results and are thrilled to see that the new experience is a clear winner, with statistically significant improvement over the old. You excitedly report the results to your boss, and the web team rolls out the new design the next day. But then, thin [...]


How To Generate Money-Making Test Hypotheses

Game site We were contacted this week by a company that offers hundreds of online games all on one site. The site's home page displayed dozens of colorful tiles, each linking to a game. To find out how we might improve on this, I went straight to our online gaming expert: my 13-year-old son. I sent him a simple email: "How can we make this site better?" Here's what he wrote back: I think it needs a more home-like homepage. It looks like it's jumping in to the "pick a game" attitude a bit early. A homepage that shows the most played and featured games that also includes tabs at the top listing the [...]


How To Use Google Analytics To Create Campaigns, Not Just Track Them

SEL 1-4-14 pic 1 We all know that analytics are good for understanding how a visitor behaved on your website -- what pages they looked at, what buttons they clicked or what keywords they used to find you. You can also use analytics to track campaigns like email blasts and paid advertising.  That's pretty basic stuff. What many beginning marketers and small business owners don't know is that you can use analytics data to create an online marketing campaign. Analytics can answer some of the key questions you might ask when you want to create a campaign: Who are you targeting? Where do they live? When sh [...]


9 Questions To Ask When Reading A Digital Marketing Case Study

case study The digital marketing landscape is moving faster than ever before, with dozens of new tools, platforms, and advertising media coming into existence every year. When making a decision to adopt one tool over another or making an entrance into a new market, the case study oftentimes becomes an important factor in whether the trigger is pulled. While a proven tool or medium is certainly less risky to adopt compared to one that is completely unproven, it's worth remembering that case studies are generally crafted to make the object look as good as possible. The results presented may be distortio [...]


Analytics: A Beginner’s Guide To Data Visualization

TREEMAP2 Lately, I have been writing about taking a closer look at your marketing data, and my last piece discussed the design of meaningful dashboards for Google Webmaster tools. I received an overwhelming amount of emails, tweets, and comments asking me about the dashboard tools I used in it. Today, I've created a beginner's guide to data visualization to help you get started with your first dashboard. The Benefits Of Data Visualization Tools There are many data visualization tools (DVT) in the marketplace that can help you create interactive dashboards. Of course, each has its pros and cons, so [...]


How To Design Analytics Dashboards From Google Webmaster Tools Data

google-analytics-icon-250px SEO Chaos! That was my topic last month. Ever since Google blacked out keyword-level data, people have been scrambling to substitute or replace it. Not surprisingly, I received a lot of emails about that article, asking how to use Google Webmaster Tools (WMT) data as a replacement source. The general answer is that you can't use WMT data as a true replacement data source. That's because Google Webmaster Tools does not collect any information about user engagement on your site. Instead, it collects user behavior on the search results page. However, you can use your WMT data as a proxy. (H [...]


Comprehensive Guide To Creating Branded Templates In Excel

Webmaster Developer Tools color picker Wrapping up my series on dashboards, I want to address an issue I see in just about every spreadsheet I've seen in my career as a marketer: using Excel's (hideous) default formatting for visualizations. You've seen them … the blue and red charts are particularly unforgivable. Worst of all, sticking with Excel's default formatted table and pivot table styles can also be discordant, especially if you are a brand with your own panoply of branded colors. So, let's see if we can remedy that with this post and make the digital world more beautiful. Customizing Chart Formats If you haven't [...]


How To Use Site Search To Get Keyword Insights In A (Not Provided) World

ML 10-2013 3 Not Provided is all anyone is talking about these days -- with good reason. Holding data hostage and forcing users to buy ads to see it is pretty dirty pool, in my opinion. Most of my clients cannot lay out the money just to grab data, so we've had to come up with some creative ways to see information at a keyword level. I've shared previously how using a "Not Provided Filter" can give you insights into landing pages that are triggered by a keyword search. If you know the landing page, you can extrapolate and "guess" what the keywords might be. This is great if you have time to really look [...]


How To Update An Entire Dashboard In Excel With One Radio Button [VIDEO]

How to create an interactive dashboard in Excel I've been writing a series on how to create dashboards in Excel that started with this post on Search Engine Land and carried over to Marketing Land. Now, I'm going to show you a trick that will give you the ability to control an entire dashboard with one menu -- in this example, a radio button menu. In the sample file I'm including, I've put months in the menu at the top of the dashboard, but you could put anything in there to segment your charts and tables: countries marketing channels departments in a company sales staff traffic source affiliates etc. Just as I mention [...]


Is Your Site Foreign To Visitors? How To Present A Tourist-Friendly Experience

Like visitors to a foreign city, your Web visitors are looking for something familiar. You're being tested. Right now. You're being probed and compared and measured and documented. Would you like to know your results? [caption id="attachment_58698" align="alignright" width="300"] Like visitors to a foreign city, your Web visitors are looking for something familiar.[/caption] Having spent the past week in two foreign (to me, at least) cities -- Frankfurt and Stockholm -- I've tackled the challenges they presented with a mix of science and creative abandon. I've been finding my way through these marvelous cities alone, most of the time. I needed very much the same sorts o [...]


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