5 Inside Secrets of Data-Driven U.S Companies
Presented by: Robert J. Moore
CEO, RJMetrics October 15, 2014 | SÃO PAULO
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About me & RJMetrics
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What you’re going to learn today
$50 to $1M+ in six months
$100M to $300M+ in one year
8,443% 3-year growth
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There is virtually no penalty for storing data. What are the consequences?
Data storage costs have plummeted
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Abundance of data across many sources
The number of SaaS marketing and business optimization solutions is larger than ever.
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Creation of data silos
Secret #1: Break down the silos
4x increase in revenue from email over one quarter.
+
Silos Combined:
Quantified impact of e-mail campaigns on CLV
Followed the ROI and increased holiday sales by 165%
1. Try new marketing channel
2. Measure ROI
3. Adjust & focus efforts on best channel
4. Iterate daily
+
Silos Combined:
Measured ROI of marketing channels
using CLV
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Secret #2: Data in non-technical workflows
Deliver consumable data to the front lines
Social media team exceeded New Buyer goal by 77%
- Victor Hanna, Betty Mills CEO
Top consumers of data: ● Not engineers ● Not analysts ● Not data
scientists Social media and marketing teams could iterate without data lags or technical intervention
Doubled ROI on affiliate
marketing program
+
Silos Combined:
Trimmed low-value affiliates, doubled-down
on high-performers
Remove the IT bottleneck in getting reports to users.
“One of the most important things for us is to be able to build up and tear down
reports as things change -- because they change literally week to week and day to
day.” - Josh Levy, CEO at BeenVerified
Up-front investment in doing this right reduces long-term burden on technical and data teams. Data Science teams are most valuable for exploratory strategic analyses-- they are a bottleneck when serving tactical needs.
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Analysis Paralysis
Secret #3: Find the “golden motion”
Replicate the driving behavior
Know the outcome you want to improve
Identify influencing behaviors
We wanted to boost free trial conversion.
So much data to choose from: ● Logins ● Number of accounts created ● Data sources connected ● Charts created ● Number of support tickets ● Dashboards shared ● and dozens more...
The Golden Motion: Editing a Chart
This action consistently increased conversion likelihood
Baseline
30%
One golden motion
behavior
60%
Two golden motion
behaviors
77%
Without combining data sources and empowering non-technical team members, this discovery would not have been possible.
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Data’s Cost: Local Maximums
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Local Maximums are Ugly
Blindly Following Data is Scary
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Secret #4: Adopt a “T” shaped data strategy
Broad, simple, quantitative
Event Logs
A/B Tests
Web Analytics Databases
@robertjmoore
Secret #4: Adopt a “T” shaped data strategy
Broad, simple, quantitative
Narrow, unstructured, qualitative
Event Logs
A/B Tests
Web Analytics Databases
Customer Interviews
Market Intelligence
Vision
Values
Marketers as growth hackers & scientists
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Data and technology opening up new avenues of growth beyond traditional marketing.
Data + marketing technology
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Secret #5: Don’t Just Hack Marketing
Q&A
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