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7 Lessons Learned About Business Optimization from Avinash Kaushik at #SESNY

Posted on Mar 20th, 2012
Written by TopRank Marketing
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  • 7 Lessons Learned About Business Optimization from Avinash Kaushik at #SESNY
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    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

    1. 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.
    2. 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.
    3. Focus on a more broad scale.  Relying only on one metric makes it difficult to have a clear and holistic picture of the situation.
    4. 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.
    5. 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.
    6. 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.
    7. 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 solely 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 Kaushik #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.