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Hero Conf London 2018 - Frameworks for Insights and Impact

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A collection of frameworks and guidelines to perform the right type of PPC analysis and recommendations.

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Hero Conf London 2018 - Frameworks for Insights and Impact

  1. 1. Frameworks for Insights & Impact Wijnand Meijer | Co-founder & CEO
  2. 2. Today’s topics “Frameworks are brilliant because rather than teaching a specific solution, they teach the reader how to think. The best possible gift you can give them.” - Avinash Kaushik ● Problem: squirrels staying in their silos, not focusing (enough) in a structured manner on insights, recommendations and business impact. ● Solution: frameworks and tools to answer each of the main questions: 1. Insights: why did metrics change? 2. Recommended Actions: what should we do to improve results? 3. Business Impact: what can we expect after implementing these recommendations? 4. Prioritization: based on impact and ‘time-to-useful’, what should we do first / spend most of our time on and how should we align our metrics with our efforts and leadership altitude? ● Wrap up
  3. 3. First, some definitions… Reporting Squirrel Analysis Ninja “Reporting Squirrels spend 75% or more of their time in data production activities. The primary manifestation of this is in creation of reports for their direct leader, or team or division or bunch of people.” “Analysis Ninjas spend 75% or more of their time in analysis that delivers actionable insights. The primary manifestation of this is expressed in English (or native country language).” VS 12 Signs To Identify A Data Driven Culture
  4. 4. And just in case you like squirrels.. If your job description looks like this: Compile and compute data according to statistical formulas for use in statistical studies. May perform actuarial computations and compile charts and graphs for use by actuaries. Includes actuarial clerks. WillRobotsTakeMyJob.com How Fast Will You Lose Your PPC Job to a Robot? A comparison of 5 Marketing Areas
  5. 5. Let’s increase your ‘robot survival’ chances threefold If your job description looks like this: Develop or apply mathematical or statistical theory and methods to collect, organize, interpret, and summarize numerical data to provide usable information. May specialize in fields such as bio-statistics, agricultural statistics, business statistics, or economic statistics. Includes mathematical and survey statisticians.
  6. 6. Let’s increase your ‘robot survival’ chances even further If your job description looks like this: Formulate and apply mathematical modeling and other optimizing methods to develop and interpret information that assists management with decision making, policy formulation, or other managerial functions. May collect and analyze data and develop decision support software, service, or products. May develop and supply optimal time, cost, or logistics networks for program evaluation, review, or implementation.
  7. 7. So Avinash, how do we become an Analysis Nina? • Puke data, unless it’s a customized data puke (CDP) for tactical and siloed decisions. • State the obvious: “As you can see graph one shows that visits in Sept. are down by 4%.” They can see it, the graph is right there! “CPA went up because the conversion rate went down.” It’s either that or because of a higher CPC, but why did the conversion rate go down? Must-read: Digital Dashboards: Strategic & Tactical: Best Practices, Tips, Examples
  8. 8. So Avinash, how do we become an Analysis Nina? • Select a handful of KPI’s for trended graphs and tables and compare performance with the target and across segments. • Use visuals to highlight key elements. Write out the corresponding IABI – our focus of today: • Insights: why did KPI’s change (causal factors)? • Actions (recommendations / next steps): what do you recommend based on the performance and insights? • Business Impact: what is the expected impact on the business if the recommendations are implemented (this is hardest part)?
  9. 9. Who gets what?
  10. 10. 1: Insights Why did metrics change?
  11. 11. 1: Insights – Why and how do metrics change? It’s best to have a structured approach when you want to answer questions like: Looking backward: • Why did CPA go up? • Why did revenue go down? • Why is our competitor outranking us? • Why aren’t our Shopping ads showing on X? Looking forward: • How can we increase our Quality Score? • How can we get 10% more revenue? • How can we increase our conversion rate? This structured approach is called “Root Cause Analysis (RCA)” and you may need 5 Whys to get to a root cause.
  12. 12. 1: Insights – Root Cause Analysis Flowcharts First time I fell in love with a PPC flow chart: Rimm-Kaufman’s (now Merkle) dossier 3.2 in 2012 PPC Performance Troubleshooting Made Easy
  13. 13. 1: Insights – Root Cause Analysis Flowcharts AdAlysis and Optmyzr have built-in root cause analysis:
  14. 14. 1: Insights – Root Cause Analysis Flowcharts I’ve expanded on the Rimm- Kaufmann, AdAlysis and Optmyzr flow charts and created a new version to capture and categorize all PPC causal factors. Download it for free (no email needed) at: trueclicks.com/goodies Share if you like it!
  15. 15. 2: Recommended Actions What should we do?
  16. 16. 2: Recommended Actions – What should we do? Now you’ve found the root causes of the changes you (want to) see, which actions will you recommend? If you really defined the root cause(s) thoroughly, the recommendations should flow naturally. These will sound like: “Metric x is down because of our inability to take advantage of trend y and hence I recommend we do z.” Or: “We missed our target for customer satisfaction because our desktop website performs horribly on mobile platforms hence we should create a mobile friendly website.” English. Your insights. The so what based on data you've summarized and snapshotted. From: Digital Dashboards: Strategic & Tactical: Best Practices, Tips, Examples
  17. 17. 2: Recommended Actions – What should we do? Google Ads has its recommendations built in:
  18. 18. 2: Recommended Actions - The TrueClicks™ Framework After performing 100’s of audits, while writing the AdWords audit blog series and while building TrueClicks, I realized all PPC analysis & corresponding recommendations can be categorized as following: Issues to monitor daily (scripts or 3rd party tools): 1. Urgent Issues: critical things that are broken and need your attention right now. 2. Errors: things that are missing, disapproved or other mistakes that have been made (by other people of course)  Just fix it asap. 3. Account activity: lack of recent and meaningful changes  Stop being so lazy. 4. Anomalies: large and sudden deviations in KPI’s  Use root cause analysis flow charts to explain. 5. Budget Issues: (expected) deviations from target budget  Adjust as needed (and overthrow the tyranny) Issues and opportunities to audit or analyze: 1. Essentials: everything that should be implemented or improved first, as it’s essential for any successful PPC campaign. 2. Cost-saving opportunities: based on identified waste. 3. Growth opportunities: everything that could increase reach, traffic or conversions. 4. Account hygiene issues: to improve account management & organization.
  19. 19. 2: Recommended Actions - The TrueClicks™ Framework Monitoring (daily) Urgent issues Account down Broken / out of stock landing pages Conversion tracking down Errors Disapprovals Conflicts Accidental mistakes Anomalies Sudden and large changes in cost, conversions, etc. Budget deviation Compared to monthly target budget Auditing (weekly) Essentials Tracking Landing pages Quality score Ad testing, extensions, granular ad groups Cost-saving opportunities Negative opportunities Underperforming segments (e.g. devices, locations) Underperforming targeting options Growth opportunities Impression & click share Newer extensions Top of page visibility Audiences Unused targeting options Account hygiene issues Duplicate keywords & ads Consistent naming convention Non-serving keywords
  20. 20. 2: Recommended Actions - The TrueClicks™ Framework We can also subcategorize each recommendation based on the time it would take to implement or fix them: 1. Quick wins: can usually be implemented within 1 hour per account. 2. Initiatives: will take longer than 1 hour. So let me share a Google Sheet with you that combines 130+ Google Ads checks using these action-oriented categories, to be found on trueclicks.com/goodies and click on the Google Ads checks link By filtering you can quickly zoom in on the categories you’re interested in.
  21. 21. 2: Recommended Actions - The TrueClicks™ Framework
  22. 22. 3: Business Impact What is the expected outcome?
  23. 23. 3: Business Impact What will be the impact on the business if the CXO accepts your recommendation and the business takes action? I almost never see this. A small part of the problem is that Analysts often don't have the skills to compute impact of the recommended actions. A bigger part is that it is actually quite a bit of effort to compute impact. But, what better way to create a sense of urgency than tell the CXO what the expected outcome will be if they do based on your insights and recommended actions? From: Digital Dashboards: Strategic & Tactical: Best Practices, Tips, Examples
  24. 24. 3: Business Impact Based on the categories of the TrueClicks Framework™, let me share the following guidelines to inspire action for each category. It’s always best if you can also compute the expected impact (in terms of cost, revenue or even profit). • Urgent issues, errors and essentials: focus on the terrible things that will happen (or are happening) by not fixing the issue asap, such as: a negative user experience, reputation damage, being in the dark without tracking, not showing ads at all, etc. • Cost-saving opportunities: this is the easiest category, just use the cost of the identified waste and use that to calculate x in a statement like “by adding these negatives we will save £ x per year” • Growth opportunities: if you can find them, use benchmarks from other similar accounts or from Google (they often mention uplifts of beta users when announcing a new feature on the Google Ads blog) like “by adding the price extension we expect an 18% increase in CTR, resulting in 231 more clicks, £ 173 more cost and 7 extra conversions per month”. Make sure the reader understands this isn’t a promise, but an expectation based on historical data / benchmarks seen elsewhere. • Account hygiene issues: focus on the time savings of a better organized and cleaned-up account.
  25. 25. 4: Prioritization What goes first?
  26. 26. 4: Prioritization A classic and proven way to prioritize actions is by plotting them in an impact-effort matrix But if you can’t (quickly) quantify the impact and effort, other frameworks can help you out.
  27. 27. 4: Prioritization within The TrueClicks™ Framework Monitoring Urgent issues Errors Anomalies Budget deviation Auditing Essentials Cost-saving opportunities Growth opportunities Account hygiene issues You can work on your recommendations from left to right, starting with the quick wins (if any) within each category
  28. 28. 4: Prioritization with the Impact Matrix Avinash strikes again with another must-must-read: The Impact Matrix | A Digital Analytics Strategic Framework (July 24, 2018) • To paint a simple picture of the big, complicated world of analytics in a 2×2 matrix. • Each cell contains a metric. • The business impact is on the y-axis, illustrated from Super Tactical to Super Strategic and is exponential. • The time-to-useful is on the x-axis, illustrated from Real-Time to 6-Monthly.
  29. 29. 4: Prioritization with the Impact Matrix “If you understand why each metric is where it is, the rest of this post will fill you with euphoric joy rarely experienced without physical contact.”
  30. 30. 4: Prioritization with the Impact Matrix 46 metrics plotted on impact and time-to-useful, now what?
  31. 31. 4: Prioritization with the Impact Matrix 1: Assess Maturity: What metrics are most commonly used to make decisions that drive actual actions every week/month/more?
  32. 32. 4: Prioritization with the Impact Matrix 2. Align metrics with leadership altitude
  33. 33. 4: Prioritization with the Impact Matrix 3: Align metrics with analytical effort
  34. 34. Wrap up
  35. 35. Wrap Up 1. Always use the IABI format whenever you perform an analysis and when you write out recommendations. 2. To help you write out solid IABI’s, use these tools and frameworks: Insights: - Root Cause Analysis flowcharts (including 3rd party tools) - 5 Whys Recommended Actions: - Google’s built-in recommendations (if you agree) - The TrueClicks Framework™ Business Impact: - Quantify in terms of cost, revenue or profit if possible - If not, describe the (possible) outcomes of (not) implementing the recommendations 3. Assess your companies’ analytics maturity using the impact matrix and move from Solid Foundation  Intermediate  Advanced 4. Align your metrics with the corresponding leadership altitude and analytical effort