Metrics Tracking & Analysis | Allison J Krysl
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Practicing Analysis

Practicing Analysis

Objective

Analyze numbers by asking questions, looking at visuals, and noticing patterns.

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Analysis is a skill that takes time to practice. If you are still feeling like you don’t fully get it, don’t worry!

The more you do it, the more naturally it will start to feel & the less overwhelming it will be.

But, that does mean that practicing analysis is a GREAT way to grow that skill & strength.

Start here ⬇️

How to Navigate through this lesson ⬇️

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Time Stamps:

0:00 - Intro

0:29 - Analyzing your own data (numbers)

6:05 - Using case study data (numbers)

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🥾 Recommended Action (15+ mins)

Practice noticing & identifying some patterns in numbers (or analyzing!).

You can choose to either:

  • Use your own numbers
  • Work through some sample case study numbers
  • Do a bit of both!
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If you already have some data you want to practice going through YOUR analysis checklist with, let’s start there!

  • Here’s how I would suggest moving forward:
    1. Grab your analysis checklist so you remember the steps you want to follow (You created this in Module 3, Lesson 3)
    2. Keep your spreadsheet & visuals handy
    3. Refer back to your goals
    4. Ask your numbers some questions
    5. Use your visuals & numbers to answer those questions!
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If you want some feedback on your analysis process, fill out this Google Form as you go through your analysis steps ⬇️

If you don’t have data yet, or want even more practice, I have some sample data & charts you can use below.

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For all of the samples below, I have provided information so you can follow these general steps:
  1. Have a spreadsheet with your numbers handy in case you need to reference it
  2. Refer back to your goals
  3. Create some questions based on those goals you want your numbers to answer
  4. Use visuals to help make answering the questions easier
  5. Answer your questions

Feel free to change up these steps if you want to copy your specific analysis process!

Each sample will have a goal, spreadsheet, questions, & visuals provided for you AND a chance to get some feedback on how you have answered the questions!

Choose a case study below to get started!

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Case Study #1: Monthly Revenue Focused Goal

Business Background:

  • This entrepreneur runs an eCommerce store selling four different things all connected to social media. She was a social media manager, but has recently been trying to make passive income from courses & templates she has created.
  • The products she offers are:
    • An online course about social media strategy
    • A mini course about creating captions for social media
    • Social Media templates
    • Holiday specific social media templates

SMART Goal:

  • “I will increase my monthly revenue from my eCommerce store by 20% in three months.”

Numbers Tracked (Weekly):

  • Revenue by Product
  • Total Revenue
  • Expenses
  • Profit

Based on her goal & the numbers being tracked, what are some good questions you could ask to guide your analysis?

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Open this for some ideas if you are stuck, or to check the ideas you came up with
  • Did I meet my goal? Did my total revenue (NOT profit) increase by 20%?
  • How do my revenue & expenses change over time?
  • Which weeks brought in more income?
    • What is my weekly revenue breakdown?
    • How many products am I selling each week?
    • What was happening there?
  • Which products are bringing in revenue?
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Now, let’s look at some raw data in spreadsheet form so you can see the numbers we are working with:

Weekly Tracking Spreadsheet ⬇️

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Monthly Totals Spreadsheet ⬇️

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Let’s add some visuals:

If you want to access the live document to interact with the graphs a little more, click here! You are looking for the tab called “CS1 Dashboard”.

Overall Numbers ⬇️

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Weekly Breakdowns ⬇️

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With all of that information, how would you answer the questions you started with? What did you notice?

If you would like feedback on which questions you came up with or how you used the data to answer the questions, fill out this Google Form ⬇️  DON’T FORGET TO SCROLL UP AND HIT SUBMIT WHEN YOU FINISH!

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Case Study #2: Social Media Following Focused Goal

Business Background:

  • This entrepreneur runs an online business & uses Instagram a lot to generate interest, obtain leads, and convey her expertise.

SMART Goal:

  • “I will increase my Instagram presence by 50 people by showing up on stories 3 times a week for the next quarter.”

Numbers Tracked (Weekly):

  • Instagram Followers
  • Number of days on Stories
  • Average Story Engagement %

1. Based on her goal & the numbers being tracked, what are some good questions you could ask to guide your analysis?

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Open this for some ideas if you are stuck, or to check the ideas you came up with
  • Did I meet my goal? Did my following count increase by 50?
  • Does showing up on stories more frequently impact follower count?
  • Does showing up more frequently increase my engagement?
  • Does higher engagement bring about more followers?
  • What happened to bring that higher engagement?
  • What was I doing in my stories?
    • Which ones had higher engagement?
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2. Now, let’s look at some raw data in spreadsheet form so you can see the numbers we are working with:

Weekly Tracking Spreadsheet ⬇️

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3. Let’s add some visuals:

If you want to access the live document to interact with the graphs a little more, click here! You are looking for the tab called “CS2 Dashboard”.

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4. With all of that information, how would you answer the questions you started with? What did you notice?

If you would like feedback on which questions you came up with or how you used the data to answer the questions, fill out this Google Form ⬇️ 

DON’T FORGET TO SCROLL UP AND HIT SUBMIT WHEN YOU FINISH!

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Case Study #3: Sales Funnel Focused Goal

Business Background:

  • This entrepreneur primarily uses her website to drive potential clients through her sales funnel. She runs an online course & relies on her website to answer people’s questions and help them decide if this course is a good fit for them or not. She has noticed a decline in signups and is trying to identify what might be going on.
  • Stages in her sales funnel (steps people take on her website to become a part of the group program):
    • Home page
    • Online Course Sales Page
    • Checkout Page
    • Confirmation Page (Purchase has been made)

SMART Goal:

  • “I will identify & address pit falls in my sales funnel by increasing the conversion rate in each stage of my funnel by 10% in three months.”

Numbers Tracked (Monthly):

  • Number of visitors to each page in the sales funnel
  • Conversion rate for each part of the sales funnel
  • Overall conversion rate

1. Based on her goal & the numbers being tracked, what are some good questions you could ask to guide your analysis?

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Open this for some ideas if you are stuck, or to check the ideas you came up with
  • Did I meet my goal? Did my conversion rate increase by 10% at each step?
  • Does one step of my sales funnel consistently have a lower conversion rate than others?
    • What might be going on during that step?
    • Is there something I should do to try and address that?
  • Does a higher number of visitors to the website bring about a higher number of signups?
  • How is my overall conversion rate performing month after month?
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2. Now, let’s look at some raw data in spreadsheet form so you can see the numbers we are working with:

Monthly Tracking Spreadsheet ⬇️

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3. Let’s add some visuals:

If you want to access the live document to interact with the graphs a little more, click here! You are looking for the tab called “CS3 Dashboard”.

image
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4. With all of that information, how would you answer the questions you started with? What did you notice?

If you would like feedback on which questions you came up with or how you used the data to answer the questions, fill out this Google Form ⬇️ 

DON’T FORGET TO SCROLL UP AND HIT SUBMIT WHEN YOU FINISH!

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Case Study #4: Sign Up Count Focused Goal

Business Background:

  • This entrepreneur is launching a group program and wants to intentionally pay attention to the number of signups she receives over one month. She is using some different promotional opportunities to get her name & program in front of other audiences and wants to see if that impacts her signups at all.

SMART Goal:

  • “I will have 10 signups in the first month for my new group program directed to busy entrepreneurs.”

Numbers Tracked (Weekly):

  • Number of group program signups
  • Number of promotional opportunities
  • Average Instagram engagement numbers

1. Based on her goal & the numbers being tracked, what are some good questions you could ask to guide your analysis?

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Open this for some ideas if you are stuck, or to check the ideas you came up with
  • Did I meet my goal? How many people signed up?
  • Was there a connection between a higher number of signups and a higher number of promotional opportunities?
  • Was there a connection between higher Instagram engagement numbers and the number of signups?
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2. Now, let’s look at some raw data in spreadsheet form so you can see the numbers we are working with:

Weekly Tracking Spreadsheet ⬇️

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3. Let’s add some visuals:

If you want to access the live document to interact with the graphs a little more, click here! You are looking for the tab called “CS4 Dashboard”.

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4. With all of that information, how would you answer the questions you started with? What did you notice?

If you would like feedback on which questions you came up with or how you used the data to answer the questions, fill out this Google Form ⬇️ 

DON’T FORGET TO SCROLL UP AND HIT SUBMIT WHEN YOU FINISH!

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