Fact Check Your Data - Data.Monks.pptx

1. Media.Monks Proprietary & Confidential 1 Fact Check your Data - find the REAL purpose in your data

2. “If you don’t have data, you’re just another person with an opinion.” Media.Monks

3. “If you do have data, you’re still just another person with an opinion.” Media.Monks

4. Unless your data is active in decision making, it’s sole use is “for reporting”. TRUTH Media.Monks

5. Media.Monks Proprietary & Confidential 5 Media.Monks Proprietary & Confidential 5 ACTUAL good stuff Downloads, transactions, soft and hard conversions. Channel data, impressions, costs, clicks. Meta data, cohorts, propensity scores, consented data, modelled data Bounce rate, scroll tracking, screen resolution, flash version, device category, browser brand and version The rest is all vanity and confetti or ignored What’s tracked Typical Strategic Alignment What’s useful

6. Media.Monks Proprietary & Confidential 6 Media.Monks Proprietary & Confidential 6 ACTUAL good stuff Downloads, transactions, soft and hard conversions. Channel data, impressions, costs, clicks. Meta data, cohorts, propensity scores, consented data, modelled data Bounce rate, scroll tracking, screen resolution, flash version, device category, browser brand and version The rest is all vanity and confetti, or ignored Typical Strategic Alignment Data without purpose Business/data strategy aligned Data with purpose Data for reporting

7. Media.Monks Proprietary & Confidential 7 Data for reporting…

8. Media.Monks Proprietary & Confidential 8 Media.Monks Proprietary & Confidential 8 Insights! “

9. Media.Monks Proprietary & Confidential 9 Media.Monks Proprietary & Confidential 9 You could do this “

10. Media.Monks Proprietary & Confidential 10 Media.Monks Proprietary & Confidential 10 You should do that “

11. Media.Monks Proprietary & Confidential 11 Media.Monks Proprietary & Confidential 11 We would suggest “

12. Media.Monks Proprietary & Confidential 12 Media.Monks Proprietary & Confidential 12

13. Media.Monks Proprietary & Confidential 13 Media.Monks Proprietary & Confidential 13 Taking action with data? NICE!

14. Media.Monks Proprietary & Confidential 14 Media.Monks Proprietary & Confidential 14 Not with rubbish data you don’t

15. Media.Monks Proprietary & Confidential 15 Fact checking your data

16. Media.Monks Proprietary & Confidential 16 Media.Monks Proprietary & Confidential 16 Are they facts? Are you using them? Are you acting on them? “

17. Media.Monks Proprietary & Confidential 17 Take control of the data

19. Media.Monks Proprietary & Confidential 19 Media.Monks Proprietary & Confidential 19 Data about ME

20. Media.Monks Proprietary & Confidential 20 Media.Monks Proprietary & Confidential 20 Why do you test so often?

21. I’m NOT an elite athlete, but, I can be healthier by taking ownership of my health data, verifying it, and taking action to be healthier. “

22. Media.Monks Proprietary & Confidential 22 Media.Monks Proprietary & Confidential 22 Is your data calibrated?

23. Media.Monks Proprietary & Confidential 23 Media.Monks Proprietary & Confidential 23 Is your data calibrated? Calibrated against what?

24. Media.Monks Proprietary & Confidential 24 Media.Monks Proprietary & Confidential 24 Back to back GA360/GA4 compare and calibrate

25. Media.Monks Proprietary & Confidential 25 Drowning in data is a symptom, not an excuse

26. User A - Booking probability 0.32 User A has already made a booking in the past 3 days - 2nd biggest negative factor for this user’s low predicted score. In today’s visit, user A didn’t choose “windscreen” as the damage type. Since a fix is not urgent, this user is probably not in a hurry to make an appointment in the next 7 days. This factor has the biggest impact on why the model gives user A a low score. Model explainer - Why did user A get a low score?

27. Media.Monks Proprietary & Confidential 27 You asked me this already

29. Media.Monks Proprietary & Confidential 29 Media.Monks Proprietary & Confidential 29 Do you really need 6 Floodlights for 6 agencies to cover the same pageview? “

30. Media.Monks Proprietary & Confidential 30 Media.Monks Proprietary & Confidential 30 Yes, this is a reality “

31. Media.Monks Proprietary & Confidential 31 Media.Monks Proprietary & Confidential 31 No, you don’t know it’s happening but it is and you need to know this and fix this. “

32. Request “I need a [insert tag name here] to fire on [insert conditions here]”

33. Request “I need a [insert tag name here] to fire on [insert conditions here]” Export Upload GTM container export into BQ.

34. Request “I need a [insert tag name here] to fire on [insert conditions here]” Export Upload GTM container export into BQ. Check Visualise assets by type and function. Query based on logic criteria. Prevent duplication.

35. Media.Monks Proprietary & Confidential 35 Media.Monks Proprietary & Confidential 35 Roll your own. Maintain your data collection as part of your data dictionary. Don’t add more instrumentation until you’ve checked to see if it already exists. “

36. Media.Monks Proprietary & Confidential 36 Understand metrics

37. Bounce Rate

38. Bounce Rate Exit Rate

39. Bounce Rate Exit Rate New/Returning Users

40. Media.Monks Proprietary & Confidential 40 Media.Monks Proprietary & Confidential 40 Make sure your arbitrary definitions of what metrics mean are well understood. Share the definition. “

41. Media.Monks Proprietary & Confidential 41 Media.Monks Proprietary & Confidential 41 Avoid arbitrary definitions if possible. Be normal. Use sensible & standard metrics please. “

42. Media.Monks Proprietary & Confidential 42 Ask the right questions in the right way

43. Media.Monks Proprietary & Confidential 43 Media.Monks Proprietary & Confidential 43 Parsley is 23% protein “

44. Random. So what? “

45. Media.Monks Proprietary & Confidential 45 Media.Monks Proprietary & Confidential 45 What does 8 million hectares actually look like? “

46. Media.Monks Proprietary & Confidential 46 Media.Monks Proprietary & Confidential 46 8 million hectares - about the size of ⅓ of the UK “

47. How is that even remotely interesting? “

48. 8 million hectares of the Amazon rainforest is used to grow soy. That area is growing at over 15% per year “

49. How much soy does that produce? “

50. Media.Monks Proprietary & Confidential 50 Media.Monks Proprietary & Confidential 50 Production has grown from 20 million tonnes to 350 million tonnes in 50 years “

51. What’s it used for? “

52. So what? “

53. Media.Monks Proprietary & Confidential 54 Media.Monks Proprietary & Confidential 54 50% of greenhouse gas emissions are due to livestock production. 1 burger = 3000L of water = 2 months of showers “ Agriculture consumes about 70% of fresh water worldwide; ~1000 L of water are required to produce 1 kg of cereal grain ~43,000 L to produce 1 kg of beef. https://academic.oup.com/bioscience/article/54/10/909/230205?login=false

54. Media.Monks Proprietary & Confidential 55 Media.Monks Proprietary & Confidential 55 You want to reduce the carbon footprint of your food? Focus on what you eat, not whether your food is local “

55. This data drives change “

56. Frame questions to engage Pivot the discussion around facts Model to show the likely effects of taking action. “

57. Media.Monks Proprietary & Confidential 58 Media.Monks Proprietary & Confidential 58 The change gathers pace “

60. Media.Monks Proprietary & Confidential 61 Media.Monks Proprietary & Confidential 61 The pace needs to accelerate “

61. Media.Monks Proprietary & Confidential 62 Media.Monks Proprietary & Confidential 62 Seems mild this year doesn’t it? “

62. Media.Monks Proprietary & Confidential 63 Media.Monks Proprietary & Confidential 63 The pace needs to accelerate “

63. Media.Monks Proprietary & Confidential 64 Make or break with visuals

64. https://www.linkedin.com/posts/david-smallbone-7396831_infratech-analytics-dashboards-activity-6996457350861594624- za0Q

65. Media.Monks Proprietary & Confidential 67 Is this a helpful decision support tool?

66. ● KPIs that show change - not absolute values ● Trends - directionality ● Segment or die ● Channel-to-site-to-outcome - end-to-end ● Explanations ○ Why > what Context is king ● Actions ○ What? So what? What next? ○ Avoid “needs more data/analysis”

67. Don’t overload it You can’t fit all metrics in. You don’t need to and readers don’t want you to. ● 4-6 KPIs ● Only what’s changed relative to a target. Dashboards in summary Analyse for the reader Explain changes in data relative to targets, trends and business context. Recommend actions. This is not Google Analytics real time reporting - there’s a tool for that. Don’t reinvent the wheel. Drive change Answer questions, provide direction. Deliver dashboards inline with the frequency and cadence of data collection.

68. Don’t just take my word for it Storytelling with data The BIG BOOK of Dashboards Let’s practice

69. Don’t just take my word for it Show Me the Numbers

70. Media.Monks Proprietary & Confidential 72 Water is wet

72. Recipes!

74. What? US visitors to UK site but no conversion as there’s no US delivery from the UK

75. What? US visitors to UK site but no conversion as there’s no US delivery from the UK So What? This is unexpected. It shows good SEO signals for the UK content.

76. What? US visitors to UK site but no conversion as there’s no US delivery from the UK So What? This is unexpected. It shows good SEO signals for the UK content. What now? Update and upgrade recipe content in the US

77. Media.Monks Proprietary & Confidential 80 Fact check your data before your customers do

78. Half of US consumers accept all cookies despite concerns about how their data is shared. “ The Drum Nov ’21 https://www.thedrum.com/news/2021/11/17/half-us-consumers-accept-all-cookies-despite-concerns-about-how-their-data-shared

79. Media.Monks Proprietary & Confidential 82 Media.Monks Proprietary & Confidential 82 So, what are they afraid of? They aren’t exactly sure. “ The Drum Nov ’21 https://www.thedrum.com/news/2021/11/17/half-us-consumers-accept-all-cookies-despite-concerns-about-how-their-data-shared

80. Media.Monks Proprietary & Confidential 83 Media.Monks Proprietary & Confidential 83 76% of consumers say they mistrust companies to protect their personal data and privacy online “

81. Media.Monks Proprietary & Confidential 84 Media.Monks Proprietary & Confidential 84 76% of consumers say they mistrust companies to protect their personal data and privacy online 75% of people say they only want to see ads that are relevant and useful to them (BCG & Google) “

82. Brand trust is the second-most important purchasing factor for brands across most geographies, age groups, gender, and income levels. Privacy & 1P Data Data Consultancy Data driven Privacy Centric Measurement Brand Trust Data-driven paid media ads typically unlock 20% efficiency gains; 20-30% effective gains for new acquisitions. Maximise Observable Data GA4, Consent Mode, Enhanced Conversions, Server Side GTM, Server to Server, Consent Management Platform Integration, Cookie Banner Optimisation

83. Media.Monks Proprietary & Confidential 86 Google research has shown that providing a positive privacy experience increases share of brand preference by 43% A negative privacy experience is almost as bad as a data breach… First Class First Party Privacy First

84. Media.Monks Proprietary & Confidential 87 Media.Monks Proprietary & Confidential 87 Authenticity “What hinders me is technical jargon, lengthy explanations, and companies possibly not being upfront about what they intend to do with my info.” UK Customer Trust The impact of a poor privacy experience is nearly as bad as a data breach. 39% said they would switch brand loyalties in response to a negative privacy experience with their preferred brand. Spam Unless I was absolutely interested in buying an item I would probably skip a monetary discount offer. …concerned about adding to the many emails I receive daily. Poor experience impact Quantify the impact of privacy success and failure. Convince the skeptics with hard facts, numbers, reality rather than a hunch. “

85. Media.Monks Proprietary & Confidential 88 71% People prefer to buy from brands that are HONEST about what data they collect and why. Research participants who were more aware of how data sharing works were 26% more likely to agree that data sharing in return for more relevant ads represents a fair value exchange. https://www.thinkwithgoogle.com/intl/en-gb/future-of-marketing/privacy-and-trust/research-customer-privacy-practices/

86. Media.Monks Proprietary & Confidential 89 Media.Monks Proprietary & Confidential 89 The good news for marketers is that nearly half (44%) of consumers say they’d be somewhat or very comfortable sharing their personal information in exchange for a discount or special offering from a brand they liked. “ The Drum Nov ’21 https://www.thedrum.com/news/2021/11/17/half-us-consumers-accept-all-cookies-despite-concerns-about-how-their-data-shared

87. Media.Monks Proprietary & Confidential 90 Media.Monks Proprietary & Confidential 90 Consumers reward brands who get this right Personalise More likely to consider purchasing Consumers more likely to recommend to friends and family More likely to consider repurchasing 1 3 2 https://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/the-value-of-getting-personalization-right-or-wrong-is-multiplying 78% 76% 78%

88. Any privacy journey needs to start with a deep understanding of what people want. The future of marketing will be shaped to a large extent by these win-win exchanges. “

89. Media.Monks Proprietary & Confidential 92 Closure What does fact checking your data mean?

90. Media.Monks Proprietary & Confidential 93 Media.Monks Proprietary & Confidential 93 Verify - Be certain you understand what the data means Calibrate - Is the data representative of reality? Prioritise - Which data points REALLY matter? Apply governance - Maintain what is collected and why, for what purpose Dedupe - DCCO - Data Collection, Cleaning AND Organisation Frame questions to provoke promote action Visualise to facilitate action Don’t just report. Analyse to guide action - what, so what, what now “

91. Media.Monks Proprietary & Confidential 94 Media.Monks Proprietary & Confidential 94 “ Failure is expensive, and inefficient Success is highly rewarding - for us all We’re not anti-business, we’re pro-consumer

92. Media.Monks Proprietary & Confidential 95 Questions? Ask your favourite monk doug.hall@mediamonks.com Sources: https://ourworldindata.org/ https://www.cowspiracy.com/facts BCG & Google, 2022; EY Global Consumer Privacy Survey, 2020 Google research privacy practices https://www2.deloitte.com/uk/en/insights/focus/future-of- mobility/electric-vehicle-trends-2030.html https://www.climate.gov/media/12886 https://www.linkedin.com/posts/david-smallbone- 7396831_infratech-analytics-dashboards-activity- 6996457350861594624-za0Q https://ourworldindata.org/food-choice-vs-eating-local https://ksdigital.co/the-ga4-migration-monitoring-dashboard/ https://nutritionfacts.org/

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