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The Path to Improved Corporate Media Performance
Warsaw, 05/21/14
Prof. Dr. Clemens Koob
Situation (1)
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Today, only one in three companies continuously assesses the impact of its Corporate Media.
33 continuously measuring the impact of B2C magazines (%) occasionally
measuring the impact of B2C magazines (%) 42
31 continuously measuring the impact of digital media (%)
occasionally measuring the impact of digital media (%) 30
Source: Corporate Media Baseline Study 3, DACH region
Situation (2)
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51 great need for improvement: impact measurement of print media (%)
45 great need for improvement: impact measurement of digital Corporate Media (%)
Source: Corporate Media Baseline Study 3, DACH region
More and more communications executives see great need for improvement in the area of Corporate Media performance measurement.
Qualitative expert study (German-speaking countries, UK)
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14 BASIC PRINCIPLES
for a best-in-class
Corporate Media
Performance-Management
Principle: Strategy integration
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Performance measurement should be an integral part of any Corporate Media strategy
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Principle: Strategy integration
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Rigorous performance management can best be achieved if impact measurement is seen as an essential building
block of the Corporate Media strategy right from the start.
! Precise definition of communication objectives (what, until when) and criteria for success already during conception stage
! Clear definition of impact measurement responsibilities within the Corporate Media team
! The timing of the impact measurement must be a core part of the Corporate Media strategy
! Impact measurement has to be included in the budget plan right from the beginning
Principle: A- and D-Checks
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Realize A-Checks and D-Checks.
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Principle: A- and D-Checks
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Life-cycle of the medium
Conception: professional pretests before launch
Launch: extensive testing after launch
Growth & maturity: continuous performance tracking over the course of time
Actualization: extensive testing at relaunch
measurement intensity intensity of media usage
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Principle: Strategic and operational perspective
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Take a strategic and an operational perspective.
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Principle: Strategic and operational perspective
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Do we meet our strategic communication targets? How should we arrange our Corporate Media activities in the long run? Examples: > Continuous tracking of communication
success relating to the customer journey > Analysis of the media requirements of the
target group
What can be done immediately to further optimize our Corporate Media efforts? Examples: > Continuous A/B-testing of magazine covers > Continuous analysis of digital media bounce
rates and dwell times
Principle: Agility and continuity
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Agility and continuity as guiding principles.
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Principle: Agility and continuity
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test- & learn-environment:
Rapid availability of results for immediate optimization and iterative improvements
Meaningful comparisons over time, visibility of long-term effects / impact
performance measurement
agilitycontinuity
& consistency
Corporate Medium
Principle: Performance-Management-System
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Establish a Performance-Management-System.
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Principle: Performance-Management-System
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A best-in-class Corporate Media Performance-Management-System consists of a six-steps cycle.
Set ambitious goals Define criteria for
success
Define KPIs
Measure success
Evaluate impact
and success
Optimize communi-
cations
Principle: Keep eyes firmly on key parameters of success
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Keep eyes firmly on the key parameters of success regarding customer communications.
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Principle: Keep eyes firmly on key parameters of success
There are three dimensions of success regarding customer communications.
The importance of these dimensions varies from project to project.
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Dimensions of success: Medium
Effectiveness Efficiency
Principle: Keep eyes firmly on key parameters of success
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1) Success regarding medium itself: > reach > usage > acceptance > appraisal > media engagement (e.g. follow-up communication)
Principle: Keep eyes firmly on key parameters of success
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2) Success in terms of effectiveness:
> communication success related to the customer decision journey
> in cognitive, affective, conative and economic terms
Principle: Keep eyes firmly on key parameters of success
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> Brand awareness and presence > Brand image, brand knowledge,
sympathy, brand trust > Desirability, buying consideration > Sales support (leads, purchases etc.) > Customer service function > Loyalty, retention, word-of-mouth
Principle: Keep eyes firmly on key parameters of success
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3) Success in terms of efficiency:
> Return on communications
> Communication success in relation to investment
Principle: Adequate KPIs
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Define adequate Key Performance Indicators (KPIs).
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Principle: Adequate KPIs
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KPIs
> unique users, average daily users, new users > «quality reach» without occasional users
> time on site per visitor / time per visit > page views per visit
> conversion rates > revenue per purchase
> returning users, heavy users > monthly visits per user
Example: McKinsey / OMEX dashboard for online media
Principle: Big Picture
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Get the Big Picture!
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Principle: Big Picture
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Understanding details is indispensable when it comes to continuous fine-tuning of Corporate Media.
However, steering the overall performance of Corporate Media activities demands focusing on a manageable
number of vital performance indicators.
Performance Dashboard
Principle: Benchmarking
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Broaden your horizon.
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Principle: Benchmarking
With the help of internal and external benchmarks it is possible to better classify communication performance and to challenge
one‘s Corporate Media activities.
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performance / impact of Corporate Media activities
internal benchmarks
§ previous values / time comparison
§ other media / cross-comparison
external benchmarks
§ competitors § within own sector § cross-sector
Principle: Instruments and methods
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Choose the best-of-breed instruments and methods.
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Principle: Instruments and methods
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1) Quantitative methods:
> «facts & figures»: assessment of Corporate Media success on a solid fact base
> continuous monitoring and steering
> e.g. surveys, standardized web reports, social media tools, ReaderScan
Principle: Instruments and methods
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2) Qualitative methods:
> Explorations / explorative analyses
> detailed understanding of media needs and requirements, media usage, and media effects
> e.g. focus groups, in-depth interviews, shadowing, usability tests
Principle: Instruments and methods
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3) Physiological methods:
> Deep drilling regarding users‘ experiences and behavior
> e.g. eye tracking, pupillometry, skin conductance measurement
Principle: Instruments and methods
The instruments for proactive performance management are at hand.
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! There is a broad range of measurement methods and tools – with respect to print media as well as digital media.
! Methods and instruments need to be chosen in line with the research question / respective situation.
! This means there is no cure-all method being appropriate under all circumstances.
! A combination of different methods can lead to even more comprehensive findings and higher validity of results (triangulation).
Principle: Just Do It!
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Just Do It! »»
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Thank you for
your attention!