Andy Black
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The Need For Speed
(Excuse the dry academic look of this post. I do this much better with a flipchart. One day (yeah right) I'll redo this as a video of me with said flipchart.)
# Actual Performance vs Indicators of Performance
Actual performance for your business is likely revenue, cost, profit, ROI.
Some Key Performance Indicators (KPIs) for paid search are:
# Metrics vs Dimensions
The numbers gathered above are often called metrics, and calculated metrics.
Dimensions could be product, location, device, network, day of week, hour of day.
You filter or aggregate by dimensions.
# Converting Data into Profit
Use a continuous cycle of improvement:
...and convert Data into $$$ as below:
Observe...
Notice something about the "Measure -> Report -> Analyse -> Act" cycle?
At the Measure step, the results from the previous cycle is the data for the next cycle.
This is VERY important.
Being “data driven” and “results focused” means the same thing.
It’s why they say “you can’t manage what you can’t measure”.
Be damn careful what you measure, because that’s what you’ll be working to improve.
(BTW... I hate the "data driven" mentality. "Data informed" should be more like it.)
Also notice you can’t measure till you’ve taken action. The loop starts by taking action!
Conclusion
Marketing can be seen as a "knowledge based" project.
A common bottleneck is knowledge acquisition.
The way to overcome it is to be agile... both agile in development and agile in marketing.
That means speeding up your iterations... cycling through the loop faster.
(Excuse the dry academic look of this post. I do this much better with a flipchart. One day (yeah right) I'll redo this as a video of me with said flipchart.)
# Actual Performance vs Indicators of Performance
Actual performance for your business is likely revenue, cost, profit, ROI.
Some Key Performance Indicators (KPIs) for paid search are:
- Estimated Impression Pool (available searches)
- Impression Share
- Impressions
- Avg Pos
- Clicks
- CTR
- Conversions
- Conversion Rate
- Average-Life-Time-Value
# Metrics vs Dimensions
The numbers gathered above are often called metrics, and calculated metrics.
Dimensions could be product, location, device, network, day of week, hour of day.
You filter or aggregate by dimensions.
# Converting Data into Profit
Use a continuous cycle of improvement:
...and convert Data into $$$ as below:
Observe...
Notice something about the "Measure -> Report -> Analyse -> Act" cycle?
At the Measure step, the results from the previous cycle is the data for the next cycle.
This is VERY important.
Being “data driven” and “results focused” means the same thing.
It’s why they say “you can’t manage what you can’t measure”.
Be damn careful what you measure, because that’s what you’ll be working to improve.
(BTW... I hate the "data driven" mentality. "Data informed" should be more like it.)
Also notice you can’t measure till you’ve taken action. The loop starts by taking action!
Conclusion
Marketing can be seen as a "knowledge based" project.
A common bottleneck is knowledge acquisition.
The way to overcome it is to be agile... both agile in development and agile in marketing.
That means speeding up your iterations... cycling through the loop faster.
LAUNCH AND LEARN
(Just move faster dammit! )
(Just move faster dammit! )
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