If you haven’t already downloaded Tubular’s Q1 2018 State of Online Video Report, then go do so right now. Why? Because if you’re interested in strategic insights, critical data, tactical advice, and trends in the digital video marketing business, that’s the next piece you need to read. But if you have already read the report, then you already know the report highlights a trend to watch that’s relevant and valuable to those in the food and drink industry: fancy meals made easy.
For many data analysts who work for digital media brands, presenting this insight in your next report to the executives at your company is going to advance your career to the next level. Savvy data masters may want to borrow an idea from Avinash Kaushik, who wrote Web Analytics 2.0. Below is his humble, admittedly ugly, attempt at a highly-actionable, outcomes-focused “Action Dashboard,” which data analystis should use to let executives know that “Fancy Meals Made Easy” is a trend to watch.
In the upper left quadrant, data masters in the food and drink industry will want to show the trend for monthly views on Facebook of recipes featuring gourmet techniques or designs made easy for replication at home. Here’s the graph Tubular created based on our exclusive data from the Q1 2018 SOOV:
According to Kaushik, “This quadrant is to satiate Executive curiosity that you know what you are doing; it will be glossed over (and that’s good!).”
Next, the upper right quadrant of an Action Dashboard, Key Trends & Insights, gives data masters the opportunity to add value by interpreting the trends and adding context. For example, you could say:
According to Kaushik, “This quadrant is the one that Executives will read a lot initially; over time they will gain confidence in you, they will love that you share context (hello Ninja!), over time they will gloss over it (a good thing).”
The lower right quadrant, “Actions/Steps Being Taken To Move the Dial,” forces shy data masters to get out and talk to internet marketers, video content producers, or whomever it takes to get all the tribal knowledge that’s needed to identify the root cause for the fancy foods trend and recommend solid action to take. Inexperienced data analysts will rarely be able to do this by themselves. It requires conversations with others. It means identifying solutions collaboratively. That’s why it is a fantastic opportunity to become smart about the business.
For example, data masters may want to borrow a suggestion in the Q1 2018 State of Online Video Report and take a closer look at Luxury Food Worldwide. Its Facebook page is a collection of food tutorials and luxury foods from chefs all around the world. It ranks #35 among global influencers on Facebook in the Food & Drink genre. Although Luxury Food got 1.4 million views in August 2017, that climbed to 18.6 million in September, 26.0 million in October, 22.7 million in November, and 22.7 million in December. And data masters can watch fish monger Tommy Gomes of Catalina Offshore Products break down an Opah and drop some knowledge on the 7 cuts of meat to get an idea of the kind of video content that got 1.8 million views in the first 30 days. Then, they can ask the people they talk with what actions or steps do you think we need to take to move the dial in a similar direction?
According to Kaushik, “This quadrant is key to driving action. No longer do you leave things to interpretation or let’s blame people, etc. You are recommending what actually needs to get done. Your Executives will kiss you and over time this is the only quadrant they’ll read. It will also mean that monthly meetings will move from bitch fests to deciding who does what. Amen!”
Finally, the lower left quadrant of an Action Dashboard, “Impact on Company/Customer from Red/Yellow Status,” exists in case it is not clear to the executives why they need to listen to their data master and take action. If there is a key thing missing from most dashboards, then Kaushik says, “They are normally missing the kick in the rear end and this quadrant delivers it.” It is the answer to this question: “As a result of this trend (up or down), what was the impact on the company and its customers?” It also forces data masters to do the hard work of estimating the impact and putting it on paper.
As I mentioned back in the fall of 2016, data masters for media companies, publishers, and creators; B2B, B2C, and influencer marketers, and brand advertisers and their agencies will use different online video metrics to measure the impact that really matters most because they are all focused on different outcomes – even in the food and drink genre.
According to Kaushik, “This is the killer quadrant, if nothing else drives action this will, knowing exactly how much money was lost, how many customers were pissed, how much opportunity was wasted. Now when they ignore you they do that at their own peril and with their butt on the line. Trust me action you recommend will be taken.”
That’s why creating this kind of Action Dashboard will help data masters in the food and drink industry “advance to Go. Collect $200.” Explaining why fancy meals made easy is a trend to watch that’s both relevant and valuable in your next report to the executives at your company is almost certainly going to advance your career to the next level.
The exclusive ‘State of Online Video Report Q1 2018’ gives unprecedented insights into what’s happening on the major video platforms. Just click on the button below to access the webinar playback and the full report.