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Since its beta launch in 2018, Factivate has been on a mission to help working men and women be more efficient with their time and business decisions. The company does this by providing a suite of solutions that democratize the data analysis experience for 99 percent of users while providing the power of expensive Business Intelligence tools at a fraction of the cost.
Organizations today are often faced with the challenge of linking marketing strategies to ROI. Sadly, the majority of them don't know 'how' to do this, are relying on vanity metrics (or Analytics 1.0 practices) to showcase "something", or believe it will be a costly endeavour to do so. In fact, there's a widely-held belief that marketers need to have huge big data budgets or have deep technical capabilities in order to link their activities to ROI. The Factivate founders believe this shouldn't be the case; thus Factivate was born.
The platform was built by analysing the best-practices gained from spreadsheets, dashboards, workflow tools, and business intelligence tools. The resulting product is a 21st Century big data solution built for the 90 percent of marketing users who need it. By removing all technical and cost barriers that prevent marketers from understanding big data, Factivate has been able to empower their users into demonstrate their real ROI and move them well beyond the "vanity metrics" reports they previously relied on.
Today, Factivate continues to expand its solutions for marketers. While each solution can be used individually, they are more powerful when used together:
UTM Smart Manager – Helping marketers maintain their data integrity
33 percent of marketing projects fail per year because of bad campaign URL management practices. The UTM Smart Manager enables digital marketers (using Adobe or Google Analytics) create, validate, manage, and optimize their campaign URLs with consistency; providing deeper insights into campaign performance and reducing campaign management costs.
Factivate Advanced Analytics – Helping marketers make "big data" easy
The typical business only effectively tracks 30 – 70 percent of their marketing spend while commonly making campaign-optimization decisions off of month-old information and error-prone spreadsheet reports that take significant time to compile. The Factivate Advanced Analytics solution helps digital marketers overcome the challenges posed by big data through its customizable solution that automates their reports, dashboards, and KPI alerts to help them make the best decisions that impact their ROI.
Each product provides marketers (working anywhere from SMBs to Fortune 100 enterprises) with easy-to-use experiences that require no programming knowledge and can be set up quickly. Consequently, digital marketers using Factivate achieve deeper, more accurate data insights while reducing campaign costs simultaneously — translating into higher ROI.
With personalized and comprehensive analytics solutions, Factivate's clients have demonstrated an ability to close their big data gaps and gain an average of 200 hours per analyst per year, while becoming increasingly agile with their marketing spend. As a result, the company's customers routinely achieve a significant lift in ROAS for each additional dollar tracked. Here is how a Fortune 100 brand reduced ad spend waste by over 300 percent using Factivate's offerings:
Challenge:
• Determine if agency reports were accurate to realized impact from Ad Spend
• Increase Marketing visibility across teams, in context, to their own goals
• Reduce waste & reporting costs to US$0
• Improve CTR and CPC rates across channels
Solution:
• Develop customized dashboards and reports per management level pulling from all of their channels/brands per country
• Add custom alerts to each dashboard to inform teams when results fall below or above benchmarks
• Use new structure to review historical data under newly built dashboards to audit agency reports
Results:
• Marketing reports reduced to US$0 in time/money
• Reductions of waste in poorly performing ad spend of more than 300 percent per month
• Identified discrepancies on agency reported CTRs from 8 percent when realized was closer to 1.5 percent
• Valuable insights on channels and audiences per campaigns
Factivate has been recognised globally for offering innovative solutions and received several awards. Some of them include:
• Top Startup to Watch by Built in Colorado
• Best in Business Intelligence tools
• UTM Smart Manager has been just launched and already received recognition as a top Adobe Analytics Campaign URL builder tool for 2019
Juan Porras, Founder and CEO of Factivate is an experienced executive in the Startup and Corporate space, having balanced the nitty-gritty challenges faced as a startup founder (from designing disruptive products and managing growth all the way to board meeting strategy and execution) in one day – and then being equally successful in working with Fortune 500 companies and executives as their technology, marketing strategy, or data leader.
Like any true entrepreneur, Juan has served in various capacities as CEO, CIO, EIR (Entrepreneur in Residence for Google and Code2040), CMO, CRO, Data Expert, UX, UI, Growth Hacker, and even content director in his attempts to build disruptive companies. At one point, he was even called the "Steve Jobs" of Latin America because of his obsession with perfecting technology solutions.
Factivate is his latest foyer into being a "contrarian". Rather than build on the BI systems available in the market today, Juan recognized unique market-driven assumptions that many BI companies were ignoring. This led him to think creatively about a data intelligence solution instead of adopting the presentation layers used by many of the multi-billion dollar companies today.
The idea to established Factivate was born while attending the Boomtown Boulder Accelerator in 2014, Juan and his co-founder noticed that while leveraging big data was seen as a huge competitive advantage, the majority of business users were resistant to adopting the available business intelligence systems because of cost and technical capacities. Consequently, they continued to rely on spreadsheets as a basis for running their companies. Ironically, in a cloud-based, big-data world, desktop spreadsheets were being used even more and leading companies to recognize their use as one of the biggest bottlenecks to business productivity. This frustrating problem was costing organizations thousands of hours in wasted reporting time while increasingly costing them large portions of their revenues because of bad decisions off of old and error-prone spreadsheet data. From this problem, Factivate was born.
The company is taking a truly innovative approach to disrupting the big data landscape. By providing a spreadsheet user experience, none of its users have to program or learn SQL in order to be able to combine multiple data sources and derive actionable insights from their data coming from Facebook, Google Analytics, or other marketing platforms. Factivate experienced first-hand that the spreadsheet UI is still the common language for business users. Secondly, the company employs an intelligent decision-engine that helps users stay on top of their information 24×7; whether they're in a meeting, on vacation, or even asleep. This means that even the users that aren't looking at their dashboards will know when something important has occurred. This is where Factivate can truly disrupt the data analytics marketplace.
Juan Porras believes that big data, if used correctly, can make people exponentially more productive, efficient, and opportunistic. The challenge is not in obtaining the data but reading it correctly to make good decisions. Specific to marketing, a good data strategy helps align the "creative" world with the "financial" world in a defensible manner that can lead to bigger budgets and increased alignment throughout organizations. In the real world, this means that any marketer can request higher budgets from their CFO because he or she is able to defend their creative strategies with measurable outcomes.
BI and Analytics are still fairly young and many still view the concepts behind data as abstract and divisive. In Juan Porras's experience, some people view it as threatening to their jobs. He doesn't agree with these perceptions. He believes these views are correlated directly with the perception that data-based tools are difficult and costly to use and maintain. If the company gives users a tool that they don't need to spend months/years learning, Juan believes the "perception" will change; moving users from "I don't get it" into "how else can I take advantage of my insights". In marketing, Factivate has seen some of this evolution already happening. Today, companies are expanding the roles from a traditional CMOs and evolving that position into a revenue-specific or growth-specific title that relies on the combination of marketing and sales data together to achieve growth.
