Grow Your Business Faster With Customer Analytics

Grow Your Business Faster with Customer Analytics

Lars LofgrenMarketing Analyst - May 2012 [email protected] - Confidential - Do not distribute

BUSINESS DEPENDS ONRelationships

“In this age of the customer, the only sustainable competitive advantage is knowledge of and engagement with

the customer.”

If you build better and deeper relationships than your competitors,

you will win.

To build a relationship with our customers, we need to know who

they are.

CUSTOMER ANALYTICSTells Us

WEB ANALYTICSDoes Not

Focus on people

Track people, not pageviews. Use random IDs if needed.

Reports on people

Customer lifecycle

Get a complete picture of how customers interact with your business, from the

first touchpoint to the last.

“IT’S NOT JUST ANONYMOUS NUMBER...THESE ARE PEOPLE AND I CAN ACT ON THAT.”

Engagement over time

Multiple channels

Customers use many different channels, tracking should too.

Multiple people, multiple channels

Which channels matter?

Customer flows

Know who made it through a funnel and where people are getting stuck.

Data that matters

You’ll get data that is easy to take action on because it tells the story of

your customers.

Every point of engagement

Bridge the gap

Baseline your metrics so you know how you are doing. Then easily find the

opportunities so you can understand how to improve.

HOW DOES ITWork?

Real questions, real answers

Let’s go through questions we all have about our customers and see how

customer analytics gives us the answers.

Who are my most valuable customers?

Most valuable customers

“IT'S EASY TO KNOW WHICH REFERRAL SOURCES TO FOCUS ON TO ACQUIRE THE TYPES OF CUSTOMERS I WANT.”

Most valuable traffic sources

Most valuable markets

Actionable

Find out how to acquire more valuable people based on where they

come from and who they are.

Who is doing what?

“I SAW A USER HAD WAY MORE ACTIONS THAN ANYONE ELSE AND I WAS ABLE TO LOOK HIM UP AND REACH OUT AND TALK TO HIM.”

Most engaged markets

Actionable

Determine why certain people are highly active by identifying and

analyzing their behavior.

What encourages someone to become a customer?

Search for your main goal

Get a complete list of people

Start with individuals

Actionable

Search for and analyze individual profiles to learn what actions come before your goals. Then get other

people to do those things.

What does my entire customer lifecycle look like?

Variation B performs best for key funnel

Variation A results in more revenue

“RUN A/B TESTS AND SEE HOW IT AFFECTS ALL OF YOUR KEY METRICS.”

Actionable

Measure the entire customer lifecycle so you are making decisions based on

a complete view of all your metrics.

What content causes people to come back to my site?

Return visitors

Actionable

Distribute, share, and promote the content which creates more loyal

readers.

TIME FOR Action Steps

Step 1

Find where your data is and who has ownership of it.

Step 2

When possible, integrate your data around your customer.

Step 3

Look for trends by working backwards. Focus on your customers.

Step 4

Once you understand your customers, look for trends from your

best customers.

Step 5

Get qualitative, reach out to your best customers (or people like them).

Action Steps Recap

How to start using customer analytics

1) Find your data

2) Integrate your data around your customer

3) Find customer trends

4) Find trends with your best customers

5) Reach out to your best customers

REMEMBER TO Act

Q&A Time!Lars Lofgren

[email protected]@larslofgren