Ssshhh. Come here. Let me tell you a secret. Those numbers you just presented. The presentation you spent hours on. The meeting that immediately after you got kudos for. It was crap.
How do you know? Remember that presentation you gave showing the incredible lift on sales by the optimizations made in your messaging strategy? Turns out, there was an article that provided data conflicting with your methodology and results.
The standard slice and dice of numbers to prove the ROI of ad and marketing spend doesn’t cut it anymore. There are plenty of others out there that are ready to pounce on your methodology and offer a better way of doing things. They’ve found a way to take a complex methodology and turn it into a turn key solution or service that makes it easier to track and positioned as more accurate. The pitch: You have results instantly and can act on them with new messaging, offers, creative and strategy. Oh, and by the way – check out that lift! Even if you used an advanced analytic technique, someone has a better one to sell.
What should you trust? What should your managers and executives trust? Well, that’s your job – create credibility in the numbers and be prepared to defend the results.
Sorry, there is no silver bullet in any testing methodology or analytic modeling. Each serves a purpose and each mitigates one issue better than another. No manager or executive wants to be burdened with the fine points of the statistical model you use. Less is more after all, and they only care about results. The answer to the secret is how you position your results and anticipate questions that may be brought up during the presentation or after as it has had time to soak in. Assume stakeholders will look to better inform themselves after your presentation. They want multiple data points pointing in the same direction to confirm or disprove your recommendation.
Regardless of whether the stakeholders understand a test or modeling method, you should. The strengths help you tell the story of results. The weaknesses are where the astute will hone in. For instance, if you use a sampling methodology, be prepared to present your insight in a manner that underscores not just the the positive impact noticed. Your listeners will always look for the tarnish in your insights and you need to show why sampling was still accurate and the effect of selection was not a contributing factor to a change in results if ignored. This doesn’t have to be in the presentation, but you need to be prepared to put the question to bed.
The other aspect is presenting enough of the information. Incomplete data is a deal breaker. In attempts to simplify, there is often the risk of over simplifying. Again, the balance is providing enough in the presentation to satisfy the obvious needs for information and having the details in your back pocket. First, this creates the the right focus for discussion. Second, being up on the details makes you look prepared and informed.
In the end, it isn’t just the insight you bring to the table. It is your expertise in presenting your findings and creating confidence that is sustainable beyond the opinions and guidance of others. Leadership in analytics is as much about the obvious insights as it is in covering your bases.
If you trust the numbers, make your stakeholders as well.
Filed under: business analytics, marketing/advertising, metrics , campaign testing, marketing analytics, marketing measurement, marketing performance, performance management, Web Analytics
