Convergytics, a leading marketing, CRM and digital analytics company that empowers organizations to get the bigger picture of their business through #bigdata, #analytics and #datascience, announced today the official launch of its Accelerator for Digital Analytics & Marketing (ADAM) solution.
As early-stage and growth startups focus on their product features and scalability to prepare for exponential growth, having a sound digital analytics and marketing strategy and strong data sciences capability can act as a catalyst to hyper-growth. However, the rapidly changing digital marketing landscape combined with the complexity of building a data sciences and data engineering team with diverse skillsets can be a huge challenge for young startups. Convergytics can be the ideal partner to bring the strategic thinking and necessary agility to get startups off the ground in terms of a data, analytics and marketing strategy.
The Accelerator for Digital Analytics & Marketing (ADAM) Solution is designed to help startups maximize returns on marketing investments with a sophisticated marketing spends optimization solution and deliver a superior user experience for their customers across devices. Unlike other companies, which are traditionally based on staff augmentation model, the Convergytics ADAM solution brings together strategic thinking, best-of-breed data science / data engineering execution, cutting-edge data and analytics tools along with a track record of consistently delivering results for their clients.
The solution package addresses the following areas:
1. Digital Marketing Strategy: ADAM helps early-stage startup companies utilize their marketing spends optimally by leveraging their marketing spends optimizersolution to measure both regular and ongoing campaigns as well as seasonal and event-driven campaigns and put in a feedback-loop to continuously optimize all the campaigns.
2. Digital Analytics Infrastructure Setup: ADAM includes a detailed audit of the current data & engineering architecture and digital analytics implementation. Convergytics data & implementation engineers review your current business operation and finalize the metrics that need to be tracked to best understand and optimize customer behavior. The infrastructure setup needs to match the business requirements and the ADAM solution ensures that by leveraging a comprehensive implementation checklist and delivers an optimal setup of the analytics tools resulting in rich data and actionable insights from the data.
3. Reporting and Analytics Support: A hi-growth B2C startup needs both regular run-the-business reports and change-the-business insights and analysis to achieve its goals. The ADAM offering includes a package of standard and bespoke reports and analysis that allow startups to continuously monitor and improve their business (marketing campaigns, website / mobile app / products).
4. Hi-Touch Consulting: Convergytics Leadership Team with over 100 years of retail / ecommerce analytics consulting experience works closely with their clients and guides them on data and analytics strategy that might be needed to stay competitive. These include aspects such as data monetization, tools strategy, partnerships and pivots.
The holistic ADAM solution enables startups to implement a focused marketingprogram that is best suited to the growth phase. The solution easily adapts to the changing priorities of a startup in a dynamic competitive landscape to provide clients the necessary flexibility and value along with the ability to scale-up or scale-down the investments.
“Today’s startups need an agile partner who can provide strategic guidance and also execute on those strategies which are best-aligned with the company’s growth. Having the right tools is important. But, even more important is the correct usage of the tools to deliver valuable insights that can guide the company’s growth strategy.” commented Randhir Hebbar, Convergytics’ Co-Founder and VP. “With Accelerator for Digital Analytics & Marketing, Startups finally have a one-stop solution and a trusted partner who guides them towards success without investing in a large team, expensive tools or even complex data warehousing platforms that are barely used”.
Several companies around the world are already using the ADAM solution to enhance ROI on their digital investments; Some of these companies include innovative startup companies like desirelist (a social gifting platform), ToYo (A toy subscription internet startup), Hospitalforsalelease.com (a healthcare M&A platform), a bespoke suits & shirts company in Australia, a fin-tech startup that is revolutionizing the micro and student loan market in India and PickPock (an off-market real estate platform). Convergytics also works with several established ecommerce companies as well and provide more traditional data sciences & engineering, digital analytics and reporting solutions.
Added Mr. Hebbar: “Startups should focus on what their core competence is and leverage partners such as Convergytics to enhance their data analytics maturity in their early to growth stages. Over time, clients can adapt into a hybrid model with an in-house team working closely with the analytics partners to drive more business decisions from the analytics” That is why Accelerator for Digital Analytics & Marketing (ADAM) solution has been designed to deliver complete flexibility to suit the client needs, so that they can optimize their data, analytics and marketing investments to deliver a great user experience for their customers, while not investing heavily into building a large data/analytics team. Simply put, Accelerator for Digital Analytics & Marketing (ADAM) helps you accelerate your analytics & data journey while lowering the risk.”
Added Eric Sheinkop, Co-Founder & CEO, desirelist: “Truly understanding analytics at an early stage in a start-up is critical to long term success. Getting to know how users interact with your product, what works and what needs improvement, sets the foundation for a business to scale. The product (desirelist) is a shop-able list making tool that captures valuable first person data, including consumer buying behaviors, purchase intent and brand preferences. This insight is extremely attractive to brands and retailers and so our ability to capture and mine this information is critical to our long term value. Through the employment of the ADAM solution, the team at Convergyticshelped us get set up for success and ensured that we have the right systems in place to capture the data, analyze the data to inform our product roadmap, track our KPI’s and, crucially, with a mind towards data monetization.”
Added Mr. Singh from HospitalForSaleLease.com: “I have been thoroughly impressed with the flexibility that Convergytics offers with Accelerator for Digital Analytics & Marketing (ADAM) solution. As a startup, despite the usual constraints of limited bandwidth and skillsets on my team, we had the desire to build a world-class product that changes the healthcare industry on its head with our innovative solution. Hospitalforsalelease.com is a global platform that facilitates hospital and medical equipment sale and lease and provides a solution to distressed hospital owners and administrators as they struggle with huge loans, market regulations, hyper-competition and dozens of other issues.
When we first engaged Convergytics, we were in the process of launching our portal. But, going through the first phase of the Accelerator for Digital Analytics & Marketing (ADAM) solution – an exhaustive digital analytics and user-experience audit gave us some unique insights and lot of food for thought. This allowed us to revamp our website, build some new features in our product and change some strategies. Over the past 4 to 5 months, the Convergytics Team led by Mr. Hebbar has become an integral part of our core team and has helped us prepare for the launch of our product in early 2017”
Click here to schedule a discussion with an expert from the Convergytics team on how Accelerator for Digital Analytics & Marketing (ADAM) is the right solution for you. https://www.convergytics.net/digital-analytics-marketing-accelerator.
For all other information visit https://www.convergytics.net.
Convergytics’ vision is to enable and empower organizations to get the bigger picture of their businesses through big data — and in the process, transform analytics from a cost-center to a profit center by offering high-impact analytics that delivers value. Our mission is to help organizations adapt to the constantly changing market landscape by going beyond traditional analytics to make actionable data-driven decisions and achieve decision-driven ROI.Posted in Blogs, Digital,
In my last post, I spoke about the need for small business to use big data capabilities. In this post, I want to talk about engaging a partner that can unlock the potential of big data for small businesses that don’t have the scale to build an analytics function in-house.
Big Data is big business today and in a trend that reminds me of the Klondike Gold Rush, it has attracted many companies that now offer Analytics as a Service. The problem for a small business looking to use analytics as a competitive advantage is no longer lack of choice but too much choice. The good news is it’s not hard to pick the ACE from the deck.
Let’s say you have a lemonade stand. You start work at the crack of dawn every morning, when the rest of the world is still dreaming, by mixing just the right amount of lemon juice, sugar, water and ice for the thirsty travellers that would pass by your door that day. It’s a lot of hard work but the satisfied expression on your customers face as they take their first sip makes it all worth it.
The only problem is you never can tell what kind of day you will have. On some days business is so good that you are sold out by noon yet on some other days you have to be at it till evening. If only you could plan better, expand and understand what is it that drives demand other than quality which doesn’t vary.
Lately you have been hearing about the power of big data, analytics and prediction and you are considering engaging an analytics partner to answer some of your questions.
So how do you go about finding that ACE in the data space?
ACE stands for Analyse, Conceptualise, and Empower which are the three things that an ACE analytics partner brings to the table.
Let’s look at each of these one at a time:
An ACE analytics partner should be able to do what you can’t afford to do- step away from the lemonade stand.
To you, the lemonade stand owner, an ACE will tell you that your usual customers are neighbourhood women who stop by as they return back from their yoga classes and they love the freshness of your ingredients. They also find it very convenient that you accept cash and the price is such that they don’t have to do carry much of it. Whenever there is a soccer game in the neighbourhood schools, you get double the usual traffic. Most of these customers would love to be able to order online and pick instead of having to wait in queues. Though your product is very popular today, your key customer segments is increasingly getting conscious about their sugar intake. And by the way, locally, the council is going to start a construction that will restrict entry to your street soon. Also you haven’t been around that long but the demand won’t be as strong in winters as shown by industry trends.
After Analyse, comes Conceptualise. If Analyse is the bird’s eye view, conceptualising is all about identifying the prey and plunging steeply downwards at a high speed to capture it.
|Insight||Revenue Impact||Proposed Action||By When|
|Customer trends around sugar consumption||-25%||Introduce sugar free options||7 days|
|Soccer days bring more traffic||+25%||Put Flyers in school to increase market share||15 days|
|Upcoming Construction||-10%||Research Alternate locations, engage school||30 days|
|Impact of winter season||-50%||Diversification into soup||90 days|
After conceptualise, comes empowerment. An ACE needs to empower you, the business owner, because an ACE knows that they will not stay with you forever.
Gazal Kapoor works full time in Sydney and is a guest blogger for Convergytics.
In today’s world of data and analytics it’s now easier than ever to understand your customers behavior on your digital properties, analyze the behavior and customize the experience / market to them real-time or near real-time with the right offers at the right time and turn many a lead into a sale. With an unending supply of qualitative and quantitative data at your business’s disposal, you can work toward your goals both online and offline. Data driven marketing has become an industry standard for sales, but its success relies on rich data created by the proper implementation of your digital analytics infrastructure.
So, how can you be sure your digital analytics has been implemented correctly? With the correct application of skills, technologies, and information processing you can drive the continual improvement of your business. Below are 7 ways your digital analytics implementation may be flawed and what you can do to fix it.
This can happen for a variety of reasons. Communication or the lack of it, creating stand-alone pages and not using a tag manager are probably the 3 most important reasons for it. This can lead to over/under-reporting of numbers and can lead to erroneous decisions and a lack of trust among senior management on the reports that you and your team share with them. If one number does not match, how do I trust the others will be question you will be asked?
Depending on what your acquisition strategy is and what kind of security precautions you have taken, you can and will attract a lot of bot traffic. While putting in checks and balances in place to prevent the bots from overloading your site is important, it is just as important to ensure that you do not count the bot traffic as valid traffic and end up invalidating most of the numbers on the site or getting incorrect insights from the numbers in your analytics reports. From our experience, excluding the common bots can bring down your overall traffic (from about 2-3% for the large websites to even 10-15% for SMEs/smaller sites).
Just as important as the bots is blocking out internal traffic (especially from Dev, Testing and Marketing Teams) to ensure that there are no spikes during project launch and testing phase of a project and also to ensure that you really are getting the true picture of a site’s performance. This can play a much bigger role for smaller companies (SMEs) than for larger ones.
Identifying a user (by even an anonymous id) helps you really understand the behavior and segment the traffic in so many interesting ways instead of just looking at summary reports. Of course, this should be followed by setting up of the relevant User-Level Dimensions as well so that the analysis can be richer and more actionable. E.g. Once you setup a User_Id, you can pull reports that identify the split of one-timers and repeat customers by channel, by product of interest and many other dimensions. This can lead to interesting actions such as lowering the spends on certain channels and spending more on others.
As a website owner, you clearly will have goals that you will be measured by. Making sure that you have setup those goals on your analytics tool and are reviewing that on a regular basis with your marketing, merchandising and analytics teams is a critical step. The goals could range from Macro Metrics (like Orders or Form Submissions) to Micro Metrics (like PD Page Views, Cart Adds, Check-Out, Time_Spent > x minutes).
In addition to setting up goals, for an e-Commerce site, making sure that the funnel is captured will enable Funnel Analysis and comparisons to get insights into Funnel performance overall and within each customer segment.
In addition to the macro-goals on your website, there are typically many elements of your website and key pages on your site that either might be working really well or working very badly for some or all of your customer segments. To be able to understand that, one of the pre-requisites is that you need to be tracking it. Events that might need to be tracked include Video Views, Banner and Nav-Bar Clicks, Social Sign-On or Social Share and even Review Shared about a Product.
Each business is unique in its own way. Even if you look at two businesses in the same industry, they each will have their own idiosyncrasies. Making sure that you capture that and also you build your reporting around that is critical to ensure that you are acquiring the right kind of customers for your business and also that you are grooming / growing them as per your plan. Tracking you put in could help segment customers and then treat them with a unique experience as per their past behavior.
The biggest gap in a marketing team is not having a coherent and homogenous tracking mechanism for all marketing channels. A marketing campaign today does hit a customer across marketing vehicles and the day and age of single-channel teams and campaigns is long gone. For this kind of campaign to work and work effectively, making sure that all teams use the same standard of tracking is imperative. Using UTM parameters and using them effectively is a simple solution to ensuring accurate and effective tracking.
Managing your digital analytics tool and its implementation effectively is a massive undertaking, but well worth the results when implemented correctly by an expert team. Your business’s goals and sales will benefit from a good web analytics platform and the proper implementation of data analysis. The potential is in the data and information that your customer is sharing with you, it’s up to you to first capture it and then put it to work.
If you would like to learn more about auditing your digital analytics implementation and how Convergytics can help optimize you with your data capture and utilization, please visit our website and sign up for a FREE Basic Digital Audit of your Website.
Randhir Hebbar heads Digital Analytics and BI at Convergytics. Randhir has over 15 years of consulting experience with the likes of Verizon, DSW/Town Shoes, Adidas, Dell, BestBuy, Gap, Nordstrom and Citi. He is a 2012 Franz Edelman Laureate, the winner of Whichtestwon.com awards for Online Cart Optimization and most recently co-founded Convergytics and heads the Digital Analytics Practice there. He can be reached at [email protected] or [email protected]. You can also connect with him at https://www.linkedin.com/in/randhirPosted in Blogs,
Google AdWords is a great channel to get leads for your business. But, a key to your success is the use of data-driven digital marketing and analytics. Therefore, at Convergytics we provide end-to-end, data-driven marketing. That’s how we helped a leading furniture retailer based in US to increase their AdWords ROI 3X. We used extensive tracking of clicks from Google AdWords and detailed drill-down analysis and segmentation of traffic to study the results, and continue to test & learn and optimize the user experience.
When you choose keywords, think like your prospects, and use keywords that indicate buyer intent. That means keywords people who are shopping or, at least, researching their buying options, would put in. The Keyword Planning tool helps you to find keywords that are relevant, convey buyer intent and have relatively little competition.
If you sell internationally, find the keywords used in those countries. The US, the UK, Australia and others use different vocabularies.
Track your results. Some keywords result in click-thru and sign-ups, but not sales conversions. You need to eliminate them once your data analytics identifies them.
Use negative keywords such as “free,” “bargain” and “sale.” Negative keywords screen out any search queries containing those words. You don’t want customers who are just looking for the lowest prices.
To earn a healthy ROI from your campaigns, you must focus on conversions, not clicks, impressions and traffic for the sake of traffic.
Use a bid strategy to maximize conversion. Google itself says that’s Enhanced CPC or Target CPA bidding. Set up Conversion Tracking, and test to discover which strategies and keywords bring prospects that turn into sales. Use Google Analytics.
Think strategically about your product or service. If you’re a car dealer in Milwaukee you don’t want to pay for people in New York to see your ad. If you’re selling an information product in English, consider screening out countries where people don’t speak English. You can even go after specific cities (e.g. Target Toronto, but exclude Quebec). If you are into high-end fashion and want to target the urban population, make sure you exclude semi-urban and rural audience. You must continuously track your conversions, and fine-tune based on the data. Drop countries or all locations where prospects don’t convert to save your budget for countries and areas where people buy.
When do your prospects spend the most time online? Test to discover that. If you sell a B2B product turn off your ads at night and during the weekends. Study and analyze Google Analytics to learn at what times your sites gets the most traffic, and how many convert into sales. That varies a lot depending on your business and your customers and leveraging data and analytics can help ensure every click is more likely to convert into a sale.
Extensions show extra information about your business. They increase your ad’s visibility. They include: (Call, Site-links, Your location, A structured snippet, Reviews, Call-outs and Apps).
Test your ad’s performance with and without the extensions because Google charges you when somebody clicks on them. Therefore, those clicks are more expensive, but are certainly worth it if they increase your ad’s CTR and result in more sales.
Call dials your business’s telephone number. The Apps extension allows users to download your mobile app. The Location extension is great for local businesses because it displays your full address, telephone and a map marker.
Send ad traffic to a landing page you’ve aligned with the ad text, never to your home page. Continue the theme of the ad’s text. If your ad to sell cars brags about your deals in used Fords, deals in used Fords should be the main subject of your landing page.
Your ad sets up an expectation in the prospect’s mind about what they’ll find after they click through. Your landing page headline and copy must fulfill that expectation, or you’ll confuse prospects.
Your landing page consists of:
Always A/B Test / Split Test your landing pages. Test and try out many headlines, then the bullet points, images and Calls-To-Action.
Use direct marketing copy principles. Give them a powerful hook and make a big promise. The headline must attract your prospect’s attention. You don’t have many words to work with, so AdWords ads are a challenge, but convey benefits your target market wants to have. You can’t sell your product from one small ad, so sell the click-through. The same goes for the image. It must catch their eye, and appeal to your target market and make a big promise.
The only way to determine what copy is “right” and what images are “best” is to create a number of variations and then carefully A/B split test them.
Don’t expect to make a profit at first. Have a budget ready to test alternatives for a few months. Prepare to test, track, analyze, tweak, refine and re-refine. Use A/B split testing and analyze your results, always seeking to beat the control.
By working with Convergytics’ data-driven digital marketing team and utilizing their Google Adwords Management Services to enhance your ROI, you make AdWords a dependable source of business revenue and growth.
Randhir Hebbar heads Digital Analytics and BI at Convergytics. Randhir has over 15 years of consulting experience with the likes of Verizon, DSW/Town Shoes, Adidas, Dell, BestBuy, Gap, Nordstrom and Citi. He is a 2012 Franz Edelman Laureate, the winner of Whichtestwon.com awards for Online Cart Optimization and most recently co-founded Convergytics and heads the Digital Analytics Practice there. He can be reached at [email protected] or [email protected]. You can also connect with him at https://www.linkedin.com/in/randhir.
Posted in Blogs,
Big data is like teenage sex: everyone talks about it, nobody really knows how to do it, everyone thinks everyone else is doing it, so everyone claims they are doing it. ~ Dan Ariely
The above quote never fails to generate a smile but I don’t think it holds true. Not for big enterprises. Not anymore. Under the leadership of Chief Data officers, most big companies are bringing together technology, talent and data assets (new and existing) in a way never seen before and Big Data & Analytics is now an integral part of their enterprise strategy.
Small Businesses on the other hand are a different story. Having talked to both new parents and small businesses, here is my analogy:
Big Data for Small Business is like post baby sex- nobody really expects to you to do it, you have convinced yourself it is highly overrated, and while it would be a ‘nice to have’, after a long tiring day, it’s not your priority. ~ Gazal Kapoor
If you are a new parent, you will change your mind.
If on the other hand, you are a small business, I am here to change your mind about Big Data. Whether you own a start-up or a mature localised business, here are my top 5 reasons on why analytics and big data should be your priority.
1. Know your customer: Your customer is more than the wallet that keeps your business running. Your customer is a person that has hopes, dreams, challenges and struggles just like you. Big data analytics will help you know your customer and personalise your offerings.
2. Map your customer experience: Whatever your product offering is, you provide your customer an experience and you need to understand it. Your customer has an opinion of you and they use it to influence. Big data analytics will help you understand why people choose you over your competitors, help you map their experience at different touch points and understand the voice of your customer.
3. Changing customer and macro dynamics: As a small business owner you are most likely busy on the dance floor. The world around you is changing very fast and no matter how much fun dancing is, you need to step on the balcony from time to time. Big data analytics will help you be at the fore front of trends that are changing your industry and help you drive a return based strategy.
4. Know your Competitors: Big data analytics not only means generating information from your own data assets, it also means tapping into sources of information outside your hold to tell you more about who else is competing with you for your customer’s share of wallet. And if your competitors think they are not big enough for big data, big data analytics will help you get ahead of them.
5. Get Social: Big data analytics will help you integrate social media into your marketing to increase the return on your marketing spend.
If you think you are too small a business and don’t even have the data, the truth is, If you have run your business for a couple of years, have a functional website to interact with a customer and a Facebook page, you have a treasure trove of data already that you are doing nothing with. You can start to dip your toe into big data by looking at public domain – Customer Search Trends from Google, Tweets in Twitter and Facebook Public Posts or even Government and Public Data Sources.
Where is the time, you say.
I hear you on that. One of the biggest challenges a small business face is operations consume almost all their time. The other challenge is budget.
The good news is there are many analytics companies that can partner with you and do all of the above on a shoe string budget. A great analytics partner will not only tap into public and social domain, they will help you create a rich repository of data by making small tweaks in your data systems. They will work closely with you to use the right tools to capture and analyse relevant data and make the most of it. In fact, Small Businesses are in a better position than their bigger counterparts to generate returns from Big Data investments because of scale, agility and nimbleness.
Don’t wait. Treat Big Data Analytics as a ‘must have’ for your small business and see the difference it makes.
In my next post, I will talk about how to choose an analytics partner.
Author Profile: Gazal Kapoor is an analytics professional with experience across domains, geographies and industries. She describes a career in analytics as a passionate arranged marriage but that doesn’t prevent her from flirting with writing from time to time.
Gazal Kapoor works full time in Sydney and is a guest blogger for Convergytics.
Posted in Blogs,