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Sora Web Analytics Getting Buy In Oct132009 V Final
The document outlines strategies for gaining stakeholder buy-in for web analytics in business environments, highlighting the importance of understanding stakeholder needs and presenting a strong business case. It details five key strategies for successful communication with stakeholders, including identifying decision-makers and demonstrating return on investment (ROI). Additionally, it discusses common obstacles to buy-in, such as resistance to change and budget concerns, and offers tips for overcoming these challenges.
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Sora Web Analytics Getting Buy In Oct132009 V Final
- 1. The Business Casefor Analytics… Getting Stakeholders on Board Marco Bailetti: Momentum Max Tremblay: Consultant/Digital Fusion Strategist 1
- 2. Agenda draft Real World Case Study & Challenge • Eco-system • Traffic Source/Flow • The Boardroom Getting Buy-in • Overview • 5 Keys to buy-in • Top obstacles for buy-in • Tips on Success • Questions 2
- 3. Web Eco-System –What does your site do or want to be? Traffic Ad Play Portals/Social Media Brochure Tool (Canadian Tire) Unarticulated Needs (Workopolis) Expectations Basic Home Page Needs Lead Gen Your Web Site Revenue Channel (EBAY, Indigo) (Dell, B2B sites) S.O.R.A – The case for Web Analytics – October 13, 2009 -> Max Tremblay & Marco Bailetti - Confidential 3
- 4. Realities of yourweb business S.O.R.A – The case for Web Analytics – October 13, 2009 -> Max Tremblay & Marco Bailetti - Confidential 4
- 5. Source flow ofreferring visitors – Building block Email Conversion Rate Future Affiliate High Growth Mobile Sources Social Media Display Ad Distribution Partnership Other competitive sites SEM SEO Co-Brands/White Labels Base Direct Traffic S.O.R.A – The case for Web Analytics – October 13, 2009 -> Max Tremblay & Marco Bailetti - Confidential 5
- 6. Visitor action/activity flowpathing Conversion Rate Browse & Bounce Search Transactional Behavior Write text/email Upload or download stuff Sign up to email Shop on ecom Buy S.O.R.A – The case for Web Analytics – October 13, 2009 -> Max Tremblay & Marco Bailetti - Confidential 6
- 7. The dreaded boardroomroasting… CEO CTO CFO
- 8. Web Analytics… draft • Costs money. (People & technology) • Doesn’t sell itself. • Scares People. • Requires longer term buy-in to be successful. • Really, really nerdy. AND IS: A powerful tool that will enable you to make better business decisions. 8
- 9. 5 keys tobuy-in draft 1. Identify the 4 Stakeholders 2. Meet with stakeholders individually & listen. 3. Deliver the 1 pager 4. Recruit evangelists, show the sizzle 5. Show the ROI, over and over and over. 9
- 10. 4 stakeholders draft THE MONEY GUY: •Approves the $. Only one. Final approval THE COACH •Influence internal stakeholders, navigates the politics, drives the agenda THE CONSUMER •End user of new application THE IT GUY •Screens suppliers, ensures compatibility/standards 10
- 11. Deliver the win,get the buy-in draft THE MONEY GUY THE COACH Low cost of ownership Recognition ROI, increased productivity Visibility Good budget fit Promotion THE IT GUY THE CONSUMER Reliability & support Do job better/faster/easier Integration & compatibility Easy to learn/use Timely delivery Upgrades their skills 11
- 12. Meet with Stakeholders& Listen draft 1. Learn about their business Build credibility. Earn – How does change impact? trust. 2. Learn about their pain points Discover what is relevant – What are the top 2 challenges? & actionable 3. Discuss scenarios (what if?) Plant a seed. Make it – What if we did something that their idea would help address challenges? – What could that something be? 12
- 13. Deliver the 1-pager draft The 1 pager delivers a concise business case targeted decision makers & prompts short term action. • Objective: what you want to do & why. • Overview: provide background & non-debatable facts. Include business challenges. • Strategy: short and longer term strategy • Execution: details on how the application works, who will lead, cost & timeline. • The Benefits: Why do this now? Highlight benefits that specifically address the pain points highlighted by the stakeholders • Next Steps: What needs to happen & when. TIP Get signatures from stakeholders 13 Source: based on P&G 1-page memo format.
- 14. Recruit Evangelists &Show the Sizzle draft • Passion is contagious. Passion sells. • Enlist evangelists to sell for you – Get suppliers to do the heavy lifting – Share the ‘sound byte’ internally – Create accounts, get people to use it • Show the sizzle. Yes, it works. – The Executive Dashboard – The cool animations, features & gadgets 14
- 15. Example 3 -e-commerce Purchase Funnel – (all numbers are examples) Identifying % abandon to other sections of the site & may reengage in the funnel Identify leakage or top 5 next pages exiting funnel 1. Product : XX% 2. Exited Site: XX% 3. Home Page: X% 4. Login In (time out): X% 5. Unknown (error): X% Provide estimate of annual revenue impact Conversion Rate: XX% Return Visits: XX% New Visits: XX% S.O.R.A – The case for Web Analytics – October 13, 2009 -> Max Tremblay & Marco Bailetti - Confidential 15
- 16. Show the ROI,over and over draft ROI case needs to be positioned around how web analytics has: increased revenue, reduce time or reduce costs. BENEFIT ROI Web Analytics Tools Increased Revenue •increased paid search ROAS •Campaign tracking by 25% •Funnel abandonment •Increased conversion 2% & •Searched keywords generated incremental 1MM •Content consumed •Increased advertising revenue by 20% Reduced Costs •Reduced CPA (cost per •Campaign tracking acquisition) by 45% •Referring sources Reduced Time •Reduce time to market by 4 •Multivariate , A/B testing weeks •Path analysis •Reduced research time by 30% 16
- 17. Show the ROI,over and over draft Make other people look good too as much as you can. Radio promotion launched New product launched PR Release Marketing loves you IT loves you Communications Loves You 17
- 18. Top obstacles tobuy-in draft 1. Status Quo 2. No Business Case 3. Skepticism (data accuracy) 4. Increased visibility 5. Budget 18
- 19. #1. Status Quo draft We already If it ain’t broke, have don’t fix it. I like my something. comfort zone. 19
- 20. #1. Overcoming StatusQuo draft Remember: Web Analytics is a catalyst for change. Change can be disruptive and uncomfortable • Impact of doing nothing short & long term opportunity costs • Benchmark with competitors • Align with innovation/product development • Don’t tell stakeholders their baby is…UGLY 20
- 21. The dreaded boardroomroasting…
- 22. #2 No BusinessCase Business questions that need answers! • What keeps me up at night? • What/Where are my sources of leads and revenues • Who are my best customers? How do increase share of wallet? • How do I build greater engagement and return business • How do I get my consumers/customers to the right place FAST. • Which off/online investments is working? What is the ROI/SAC on SEM, SEO,Display ad, Social media, Affiliate, email?
- 23. #3 Skepticism (dataaccuracy) draft • Manage expectations: – Data is not 100%, deal with it – This isn’t a financial tool that hits the GL • Educate: – Use web analytics as directional tool (+/-10%) – Lunch & Learn to explain metrics (i.e. Visitors) – Understand technical reasons for data anomalies • Establish credibility: – Benchmark with trusted sources – Robust Implementation & continuous updates – Ensure consistent naming/tagging strategies – Communicate changes 23
- 24. #4. Increased Visibility draft Several stakeholders, including IT, marketing and advertising agencies may feel threatened by increased visibility & scrutiny of web analytics • Position web analytics as an opportunity for them (highlight ROI, increase budget) • Include them in decision making/usability groups • Always include them PRE management presentation • Reassure them that: – they are still the experts, you are a lowly analytical person – Web analytics is only one of many factors that measure performance • Don’t tell stakeholders their baby is…UGLY 24
- 25. …Your Baby isUgly draft • Avoid temptation to use analytical tools to pick apart current budget spend, tools and decisions • Focus on constructive insights AND tell a story • How can this ENHANCE what they are doing? 25
- 26. #5. Budget draft • Share costs with multiple departments (IT, Marketing, Operations) • Negotiate with suppliers • Benchmark web analytics spend vs. other tactics/costs • Reinforce your business case: – ROI – Opportunity costs 26
- 27. Disclosure - Whatshould your web analytical tool do •Grow revenue , driving millions in incremental $$$ Rationale for Web Analytics •Save you bazillions of $$$ •Accelerate speed to market & decision making process •Track all your online activities •Easy to use Web Analytical •Manage all paid search campaigns tool must have •Track all your banner/display ads anyway you want channel, size, format •Manage all email/outbound from open rate to conversion Used & Fell in love with S.O.R.A – The case for Web Analytics – October 13, 2009 -> Max Tremblay & Marco Bailetti - Confidential 27
- 28. Tips on leveragingyour web analytics measurements to success 1. Web Analytics starts with 1-2 business questions • What are the objectives/goals for my website? • How can we do better. What is doing well and can we do more/less? • The type of questions you ask, will determine what is the right solution & implementation 2. Great People. Everyone has to know and use the tool • Curiosity is vital combined with a genuine LOVE for data • Evangelize through the org, the more use it, the more love it 3. Beauty of the web Measure, measure and measure • Build relevant dashboard with relevant KPI’s 4. Constantly challenge your implementation with Tech/Dev • Improve page naming. Ensure that you capture full conversion • Hire the right help and consultants like Marco 5. Don’t assume it is going to be easy or the panacea for all your ills S.O.R.A – The case for Web Analytics – October 13, 2009 -> Max Tremblay & Marco Bailetti - Confidential 28
- 29. draft QUESTIONS? Marco Bailetti (Momentum) (E) Marco.Bailetti@momentum.com (C):(416) 400-6370 Max Tremblay (Independent Consultant) (E) maxtremblay100@gmail.com (C):416-399-0381 (Linked-in): http://www.linkedin.com/in/maxtremblay2009 (T) http://twitter.com/maxtremblay100 29
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- 31. Case Studies andExamples • Example 1 – B2C Visitor KPI Acquisition – What are the most cost effective sources/channels to drive visitor action on our site? • Example 2 – Ecommerce Lead Gen & Purchase Conversion – What are the most cost effective sources/channels to drive leads, then purchase conversion and revenue. S.O.R.A – The case for Web Analytics – October 13, 2009 -> Max Tremblay & Marco Bailetti - Confidential 31
- 32. Business/Marketing Strategies 101 2010 Business Objectives Revenue/Profit Targets Brand Engagement/Health KPI 2008 Strategic Pillars (Your Company name) is (Your Value Proposition) to (Your Target Market) 5 C’s INSIGHTS & Tactics Category Competition Company Consumer Customer Strategy #1.. Strategy #1.. Strategy #1.. Strategy #1.. Strategy #1.. -Tactic #1… -Tactic #1… -Tactic #1… -Tactic #1… -Tactic #1… S.O.R.A – The case for Web Analytics – October 13, 2009 -> Max Tremblay & Marco Bailetti - Confidential 32
- 33. Example 1– KPIB2C Dashboard (#’s are purely fictional) Compare vs Pick Best Bang for your previous week, meaningful buck but SEO cost month, YTD, LY KPI’s difficult to allocate Main Sub % chg Action #1 Visit/ Action #2 Total Cost/ CPC Source/Media Section Visitor VYA (Search for) Action #1 email sign up Investment (Visitor) CPA#1 CPA#2 Total Traffic Direct 2000 1000 2% 5% 6055 5000 5.0 250 Google Total 100 2% 300 3.0 26 $ 100.00 $ 1.00 $ 0.33 $ 3.85 Google SEO 40 10% 200 5.0 20 $ - $ - $ - $ - Google SEM 60 -5% 100 1.7 6 $ 100.00 $ 1.67 $ 1.00 $ 16.67 MSN Total 200 9% 200 1.0 20 $ 200.00 $ 1.00 $ 1.00 $ 10.00 MSN Messenger 100 0 150 1.5 10 $ 100.00 $ 1.00 $ 0.67 $ 10.00 MSN Big Box 100 2% 50 0.5 10 $ 100.00 $ 1.00 $ 2.00 $ 10.00 Yahoo Total 100 -2% 400 4 40 $ 50.00 $ 0.50 $ 0.13 $ 1.25 Ad Networks Total 200 3% 50 0.25 50 $ 200.00 $ 1.00 $ 4.00 $ 4.00 Other Refering Sites 200 -10% 70 0.35 50 $ - $ - $ - $ - Email Total 100 25 0.25 10 $ 5.00 $ 0.05 $ 0.20 $ 0.50 Mobile 50 50 1 1 $ - $ - $ - $ - Affiliate Total 100 10 0.1 15 $ 10.00 $ 0.10 $ 1.00 $ 0.67 Should be able to track Cost per Actions Compare Channels in Email, Mobile & Affiliates selected source S.O.R.A – The case for Web Analytics – October 13, 2009 -> Max Tremblay & Marco Bailetti - Confidential 33
- 34. Example 2– EcommerceDashboard (#’s are purely fictional) Last Step Measure E-com Flow Step 1 What cost per Check out lead generation convert best lead purchase Main Sub Step 1 % chg Step 5 Conversion Total Cost/ CPL Step CPA Source/Media Section Lead VYA Check Out Rate Revenue Investment 1 Lead Step 5 ROI Total Traffic Direct #REF! 2% 5000 5% 334 250 5.0% $ 2,500.0 Google Total 300 2% 45 15.0% $ 450.0 $ 100.00 $ 0.33 $ 2.22 450% Google SEO 200 10% 15 7.5% $ 150.0 $ - $ - $ - 1000% Google SEM 100 -5% 30 30.0% $ 300.0 $ 100.00 $ 1.00 $ 3.33 300% MSN Total 200 9% 14 7.0% $ 140.0 $ 200.00 $ 1.00 $ 14.29 70% Yahoo Total 400 -2% 15 3.8% $ 150.0 $ 50.00 $ 0.13 $ 3.33 300% Ad Networks Total 50 3% 3 6.0% $ 30.0 $ 200.00 $ 4.00 $ 66.67 15% Other Refering Sites 70 -10% 1 1.4% $ 10.0 $ - $ - $ - 1000% Email Total 25 3 12.0% $ 30.0 $ 5.00 $ 0.20 $ 1.67 600% Affiliates Total 10 3 30.0% $ 30.0 $ 10.00 $ 1.00 $ 3.33 300% Total Paid Total 1355 5% 129 9.5% $ 1,290.0 $ 665.00 $ 0.49 $ 5.16 194% Should be able to track Email, Return on Investment Mobile & Affiliates S.O.R.A – The case for Web Analytics – October 13, 2009 -> Max Tremblay & Marco Bailetti - Confidential 34
- 35. No Business Case draft • How does this align with organizational objectives? • How does this address stakeholders pain points? • Why do you need this now? • How does this: make money, reduce time or reduce costs? 35
- 36. Overview draft What you get: • Tools to get buy-in for web analytics • How to overcome common objections Who this is for: • Marketers, IT & business professionals that want to implement web analytics to improve their operations and business decisions. 36