Insightful by Design
By Keith Conley, Director, Analytics & Insight, Bunchball
Tracking is overhead. Data point transactions are expensive. Measuring everything is a waste.
It's difficult to argue with these statements because they are all true, to an extent. Mountains of data are hard to climb (especially if you don't know what you're looking for, which we covered earlier HERE)!
I learned a lot during my time with great analytics organizations within Y&R and Universal McCann. We communicated statistically significant results on creative iterations (click-through rates and survey analyses), determined which media websites generated the highest CTRs and optimized campaigns until we achieved never-before-achieved CPCs (cost-per-conversion), but we rarely, if ever, saw the whole picture. In many cases, the media group wasn't tightly connected to the search team, the creative team didn't converse with the web development team, and the business group was not heard from. The lack of coordination itself ensured we were not optimized. This is not to say that expertise within each discipline was lacking. Each group performed to the best of their amazing capabilities, driving down costs for the clients while defending allocated budgets.
Search is almost always the efficiency and volume king. Over three million links to Faux Leopard Print Chaise Lounges is amazing! But the next question was, what caused them to search? TV and radio stations, websites, billboards, street teams and PR firms believe they have a lot to do with being "top of mind", however search providers were the lucky recipients of low CPCs and CPAs (cost-per-acquisition). Because of this, smart advertisers looked to attribution and lifetime value analyses to aid in assessing their programs. The challenge in this scenario, as with many others is seeing the whole picture. Attribution analysis can do a great job, but is difficult to provide all data sets and get results quickly.
I am proud to say that today, via Bunchball Analytics, a variety of partners weave us in to the fabric of their analytic conscious, using us to tie multiple datasets together to get a more complete picture. Simple granularity is the beauty of our system at Bunchball. We track behaviors at the user-level and don't subscribe to the notion that we only care about the end-product. We pride ourselves on recognizing and motivating those behaviors most likely to drive the intended result. That is what we do!
Our REST APIs do not always extend into the environment where the end result occurs, but we are still able to help our clients. In fact, I'm proud of these situations. Due to the nature of our tracking and our in-house analytics capabilities we are able to leverage data across multiple systems to provide a more complete, if not complete, end-to-end view of the audience and the impact of Gamification. The nature of the view depends on the type of client, consumer or enterprise, however they are always insightful.
The approach is built into our Measurement & Learning methodology where we document all Benchmarks and available data sources, which enables creativity in design and gets us ahead of roadblocks in acquiring the right data. It's not always easy, but establishing the business case upfront is the best path to success.
One client, a Fortune 500 technology company, is a great example. Due to our partnership, we are able to analyze multiple facets of their Partner program through a single dashboard. We review program goals and KPIs in a drill-down format covering Global participation down to per-partner employee success metrics. We concatenate four individual data sets to do this and the results are highly informative. The dashboard allows business stakeholders to quickly assess the program on a variety of KPIs and derive insights on a global and local scale.