When I am looking for greater impact - macro trends in the data, I often come across interesting insights that can be easily implemented and rewards measured almost instantaneously. These observations, not only yield quick results, but also make a compelling case for continued focus on analytics (if it ever need to be emphasized!). I wanted to share an example to spur conversation and show how little nuggets can be utilized to create incremental value for the business!
While trying to understand the seasonality and return on our promotional campaigns, we started to see a pattern in the common terms within the titles that had resulted in a better click- through rate (CTR). Looking at the last 9 months's data and we founde the "theme" behind some of our most successful campaigns. One of the top 5 terms that emerged was "free" - not surprising in this economy, although I would argue that free will always be popular :) Free, while most obvious in retail, could mean a lot of things such as, free service, free trial period, free coupons, free gift, etc. We came up with campaigns that had free in the heading, and saw double-digit improvement in CTRs.
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