How-To Become A Data-Driven Organization In 4 Steps

I wrote this article to be a How-To in becoming a more data-driven organization. I have translated it and posted it here with the link to the Swedish original version. 

Step 1: Define a plan for what business goals and digital goals you want to measure. Your goals could be about engagement, cost savings och revenue goals and you could get some help by using S.M.A.R.T goals.

As an example for your business goals I used the example of how you maybe want to help people exercise more by using innovative products. 

To reach these goals you need a strategy and a tactic for this to be achived. It could look like this: 

  • Strategy: Sell products.
  • Tactic: Sell online and drive foot traffic to store.  
  • KPI: Increase the number of customers/leads by 10%, increase in average sales order/order by 10% and increase the repurchase rate by 10%. This increase in this example would create 33% growth. 
  • Strategy: Engage our visitors online (and in-store)
  • Tactic: Drive engagement on blog/website (and in-store) 
  • KPI: Last interaction/frequency, X/X, and share on social media.
  • Segment: In the next step, we need to know in which segments this should be achieved. In what marketing channel? Are there new or recurring visitors? Where should we do this geographically?

Step 2: Create your implementations plan 

  • Standard dimensions and measurement values = base tags and measurement values.
  • What you are trying to achieve = Goals and e-commerce.
  • Clean and accurate data = Filters and settings.
  • Marketing Channels = Campaign Tracking and Integration with Google Ads.
  • Simplified reporting = Specific reports and dashboards for:
  • Frontend and backend, top of the funnel, middle of the funnel and bottom of the funnel of your customer journeys and different user loops and so on. 

Step 3: Agree on what digital strategy you are doing. Some common strategies may include:

  • E-commerce = Sell products and services.
  • Lead generation = Acquire potential leads and convert them into happy customers.
  • Publicist = Commitment and recurring reader.
  • Information = Help customers find information.
  • Branding = Awareness, commitment and loyalty.

Step 4: Implement your plan and maintenance and refine over time. Now you can begin to iterate your plan and improve your work in order to understand to a greater extent where the focus and priorities should land. The result? Better managed money, resources and time.

Summation:

  • Create a plan for what you want to measure.
  • Create an implementation plan.
  • Integrate your goals with your KPIs.
  • Define your micro and macro goals.
  • Set the goals in your web analytics tool.
  • Set up target values in your web analytics tool.
  • Set up calculated metrics on users (improve your understanding of your conversion).
  • Segment your measurements.
  • Try using APIs and do not limit yourself to your user interface.

ACT ON YOUR INSIGHTS!

GOOD LUCK!

Read the version in Swedish at Maverickbysigma.se:

“Fyra steg till en mer insiktsdriven verksamhet”

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