7 Lessons Learned About Business Optimization from Avinash Kaushik at #SESNY
Posted on 20. Mar, 2012 by Ashley Zeckman in Avinash Kaushik, Blog, Search Engine Strategies, Search Engines, Small Business Internet Marketing, Small Business Marketing
Perhaps he is writing some last minute jokes before his keynote?
There could not have been a better way to kick off #SESNY than a morning keynote from Avinash Kaushik (@avinash). It didn’t matter if speakers had last minute slides to create or attendees stayed out until all hours, everyone made sure they were there.
This is the second time I’ve seen Avinash and he does not disappoint. He presents the perfect combination of tactical tips and humor that both entertains and educates the crowd. I’d like to share with you our readers the 7 things that I learned this morning from Avinash. I hope you find them as useful as I did.
7 Things Avinash Taught Me About Optimization at #SESNY
- If you’re only optimizing for a small group of people you are missing out. Hyperfocus on a small select group of people can hinder your ability to focus on the larger group as a whole.
- Identify both the micro and the macro conversions. It’s important to understand the small picture as well as the big picture, and more importantly how they work together.
- Focus on a more broad scale. Relying only on one metric makes it difficult to have a clear and holistic picture of the situation.
- Your salary should be based on the economic value you deliver to the business. If your team is only focused on metrics that do not affect the companies profitability or bottom line, maybe it’s time to implement a new process.
- Figure out how to move past the 2% because all it does is deliver short-term value. Measuring clicks and visits is not enough, determine the value of the interaction.
- Optimize for revenue and value. It doesn’t matter Doesn’t matter if you are a B2B or B2C company, you can identify the goals that you want to deliver and determine value for the company.
- The best things you can do when participating in multiple channels: understand, test, be less wrong.
Two Important Steps Every Online Marketer Should Take
#1 – Understand how You Are Doing Today
Many online marketers assume that each of their tactics are in a silo, or don’t work together. The issue that we run into with web analytics is that many times we cannot see or do not look at all of the data. Having a deep understanding of how particular channels of promotion or tactics are working currently will set the stage for creating a more aggressive and educated campaign.
#2 - Apply An Optimal Attribution Model
If multiple touch points are required to win or keep customers it is essential that your team is aware of what steps led to the desirable actions. Don’t fall into the trap of following the Make Crap Up (MCU) model which is based soley on current data and not actual impact on the business. There are many variables to consider with a customized model. When it comes to attribution the best we can do is apply, understand, and test each action and measure the outcome.
What did other attendee’s think of Avinash’s presentation?
@TinaMBean – Fantastic, exuberant, funny, and invigorating keynote by @avinash at #SESNY #BRAVO!!!
@Tozehnder – This guy is awesome: Data Visualization with @avinash Kaushikhttp://youtu.be/QIyYiegBTCA #SESNY #video
@beebow – rather than obsess about technologies, obsess about digital outcomes for your business @avinash #SESNY
@thomcraver - Unit volumes are a function of Market share times Market Size. Most of us forget that. @avinash #sesny
What part of this presentation had the biggest impact on the way you look at measuring results? Which tactics do you believe you should focus on? As a reminder we will be tweeting and networking throughout the event: @toprank, @leeodden, @azeckman, @bslarsonmn.
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© Online Marketing Blog, 2012. |
7 Lessons Learned About Business Optimization from Avinash Kaushik at #SESNY | http://www.toprankblog.com
Is Your Marketing Producing the Results You Expected
Posted on 07. Feb, 2012 by John Jantsch in Avinash Kaushik, Blog, Duct Tape Marketing, Small Business Internet Marketing, Small Business Marketing, Social Media
Is Your Marketing Producing the Results You Expected
This content from: Duct Tape Marketing
Image:One-Fat-Man via Flickr CC
The poll question above is a bit loaded and, not that I want to skew the results, the answer for most lies in the fact that they don’t really know what results they expected or what result they are actually getting. Mostly they know the results aren’t what they had hoped for, but that’s another issue.
Setting expectations
One of the simplest, yet most effective, things you can do is set expectations or goals for your marketing. You can create overall revenue goals, campaign goals or more product or service specific goals, but either way, simply defining a target number will prove to be one of the best first steps.
Goals are like magnets in a way. If we define them and measure our results towards achieving them, they can produce some pretty dramatic pull.
I know this is an obvious bit of advice, but experience tells me that few businesses actually set real, tangible and meaningful targets. How many widgets do you need to sell this month? How many press mentions do you want to add this quarter? How many newsletter subscribers, webinar attendees or trial evaluations must you complete this week?
Measuring results
Once you define your marketing expectations you must define and track the most important indicators that will tell you if you are on track.
You can make this is a simple as a weekly sales total or as complex as the results of multivariate ad element testing, but the key is start measuring something and sharing the numbers.
If you’re not measuring anything, break a few key numbers down and figure out a way to produce a weekly spreadsheet that you use as a guide and also use to share with team members. Then start looking for ways to add key indicators to the list so in addition to simply measuring results you can start measuring individual effectiveness.
Add Google Analytics to your web site and pick up a copy of Web Analytics 2.0: The Art of Online Accountability and Science of Customer Centricity
by Avinash Kaushik.
If you’ve been measuring key indicators and you’re comfortable with a tool like Google Analytics, consider looking at a more advanced form of measurement from the use of a tool like KissMetrics. This tool can measure so many things that it can also overwhelm, so don’t start here unless you’ve mastered the basics.
#MIMASummit: Avinash Kaushik Keynote on Improving Engagement Through Innovation
Posted on 13. Oct, 2011 by AshleyZ in Avinash Kaushik, Blog, conference, content marketing, Marketing PR Conferences, MIMA Summit, mobile, Search Engines, Search Marketing, Small Business Internet Marketing, Small Business Marketing, Web Analytics
Photo from our interview with Avinash at SES Hong Kong
The morning keynote speaker for the 2011 MIMA Summit was none other than Avinash Kaushik co-Founder of Market Motive Inc and the Digital Marketing Evangelist for Google. Avinash was a very funny and engaging speaker. Nothing was off limits during his keynote. Caught in the crosshairs of Avinash’s presentations were what he called “small” local companies (General Mills, 3M, etc) that dared to provide a “less than ideal” user experience.
Innovation was the topic of the morning’s keynote, ranging from which companies are a good (and bad) example of implementing innovation to proper metrics to show success.
What Are the 3 Definitions of Innovation?
Kaushik on innovation: “One of the great sexy things about the Internet is that everything you knew about the Internet 6 months ago is now irrelevant. “
- Incremental
- Incremental with Side Effects
- Transformational
How Can You Participate In Innovation?
Kaushik on measuring success: “If you only measure clicks, page views, visits, video views, touches, emails, and number of reports you are SUPER LAME.”
- Accountability: Focus on the metrics that matter. Do not let irrelevant data cloud your vision. Increase loyalty by giving customers what they want.
- Multiplicity: Losers only focus on the 2% of conversions they receive from their website. Winners focus on the 98% that didn’t convert. Social, Search, Content, Email are all things that drive value but should not be considered a stand-alone marketing strategy.
- Influence: Traditional Marketing Strategy: shout to customers and hope that something will happen. Internet Marketing: Create a flow of conversation between your brand and the end user. Social Marketing Revolution: create not only a flow of communication between the brand and the consumer but encourage the consumer to share with their network.
- 4. Fail Faster: Each one of us has an opinion. Often the worst ideas are created by H.I.P.P.O’s (Highest Paid Person’s Opinion). If you’re going to fail do it quickly. Don’t let ego’s get in the way of making adjustments and tweaks to the original plan.
4 Ways Data Can Help You Do The Right Thing
- Conversion Rate = # of audience comments or replies per post
- Amplification Rate = # of re-tweets per tweet = # of shares per post = # of share clicks per post
- Applause Rate = # of favorite clicks per post = # of likes per post
- Economic Value = sum of short and long term revenue and cost savings
Create A Better User Experience
Kaushik on improving user experiences: “Be better each day than we were the day before.”
The Unreachable Coupon
How much time and effort would you spend to gain access to a .60 cent coupon? Some corporations think that the answer is: 13 steps and 30 minutes spent filling out personal information (with no error checking) only to find that you have to install another program in order to actually print the coupon. If companies only focus on the data they NEED they will avoid angering the very customers they were trying to engage. Why does the Internet bring out the worst in us?
You Say You’re Innovative But You’re Not
The example used was that of a company whose homepage screams the word innovation…literally. However, their design screams 1940’s. What we learn from this? If you’re going to use strong words to describe yourself make sure that your branding reflects your message.
Measuring Suckyness
If you want to form a long-term relationship with your audience you need to provide them something of value first. Sites that bombard browsers with too many advertisements, links, and paths are “puking” so to speak on their users. Filling your site with 400 links on one page is not a good strategy. Avoid suckyness by providing value in a way that is easy for your audience to digest.
I Love This Website!
Websites that allow you get to where you want to be as quickly as possible provide a much better user experience. By segmenting consumers as soon as they reach the home page they are much more likely to frequent your site because they know exactly how to navigate and will be provided information that only pertains to what they are looking for.
What Did We Learn?
- Extract Insights From Things You Do Every Single Day
- Force companies to provide us with the things we need to make educated buying decisions
- Be authentic!
- Stop guessing and start using the data available to you
For another blog post covering Avinash’s MIMA Summit keynote, visit Lisa Grimm’s blog: Communications Passionista.
Gain a competitive advantage by subscribing to the
TopRank® Online Marketing Newsletter.
© Online Marketing Blog, 2011. |
#MIMASummit: Avinash Kaushik Keynote on Improving Engagement Through Innovation | http://www.toprankblog.com
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