How To Use Data Analytics To Optimize Marketing
Today's video centers around how to use data analytics to optimize marketing. More specifically I address the different stages in the marketing funnel from awareness down to purchase decisions. After establishing the key stages and key performance indicators, I walk through how to optimize each stage.
✩ Jump To Specific Topics ✩
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✭ Overview of The Funnel ✭
00:08 - Basic marketing funnel explanation
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✭ Key Metrics At Each Stage ✭
00:32 - Impressions and views at the awareness stage
00:52 - Click Thru Rate (CTR) data point
01:23 - Engagement at the consideration stage
01:37 - On-site behavior and average session duration
01:58 - Bounces / bounce rate
02:10 - Page views and pages viewed
02:39 - Conversions to lead / purchase and conversion rate (CVR)
03:14 - Why conversion rate doesn't necessarily mean a sale. Typical post-conversion performance varies by industry as well as type of business (ex: B2B vs B2C)
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✭ Example Marketing Funnel ✭
03:36 - Examples to illustrate using data analytics at different stages of the buying cycle.
03:44 - Ad impressions example
03:51 - Clicks / CTR example
04:02 - Bounce rate example and subsequent total engaged users on the website.
04:13 - Page views example
04:21 - Converting users example and CVR
04:30 - Close rate example
04:36 - Summary of performance from impressions through to closed business
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✭ How To Optimize Each Area of the Funnel ✭
04:48 - Identifying areas where we can optimize
04:56 - Starting at the bottom of the funnel vs the top and why.
05:08 - Improving close rate
05:36 - Improving conversion rate
06:39 - Improving user engagement
07:10 - Improving bounce rate
07:42 - Improving click thru rate
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