Download - Data Driven Digital Marketing Strategies
Data Driven Digital Marketing Strategies
Author: Luke Szkudlarek, Digital Strategy @ what.digital14th October 2015
Analytics Roundtable Zurich
#AnalyticsRoundtable
About what.digital
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- UX Design + Digital Marketing + Web Development Company
- Experienced, 14 days old
- Based in Zurich, UK, Poland
- More at www.what.digital
- Connect on LinkedIn: linkd.in/LukeSz
Agenda
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- Quick intro
- Case Study One - Reverse engineering of a client brief
- Case study Two - New product launch for an international bank
- Summary of Recommendations
- Your homework
- Drinks
Disclaimer & Mindset for this evening
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- No data driven digital strategies (focus on approach)
- Let's assume there is room for improvement
- Ask questions & challenge
- Presentation will be updated & made available
- Simplified - we only have 30 min
No useless charts or frameworks
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Distance yourself from high-level frameworks
Digital Marketing EcosystemWho’s in the room?
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Agencies / Suppliers
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Marketers
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Analysts / Tech
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Business
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Other
1
Digital Marketing EcosystemIntroducing key players
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Agencies Digital experts, want to sell you
moreMarketeers
In control of the budget
allocation, mostly non-
technical, rely on agencies
Analysts / TechControl the
implementation of tracking &
reporting platform
Business Budget owners,
Mostly disconnected from digital,
understand $$$
Digital Marketing Strategy Typical client brief (EXAMPLE DATA)
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The brief
- Known medium size retail brand,
- E-commerce site being developed
- 2015 E-commerce sales YTD CHF 75k
- Target to double conversion rate (from 0.5%)
- 2016 revenue target CHF 500k
- Channels required: PPC, SEO, social (i.e. everything)
Realistic?
Q&A
- Marketing budget? - we won’t tell you!
- Data access
Digital Marketing Strategy Reverse engineering - What we know
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2015 2016
Revenue 75,000 500,000
Conversion rate 0.50% 1%
What’s missing?
Digital Marketing Strategy Reverse engineering - What’s missing?
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Budget
Channel Mix
Whats Campaign Concept
Hows
Digital Marketing Strategy A few words about the concept
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Monetisation model + Innovative Concept = Business ($$$)
Typically marketers & creatives
Who does it in your organisation?
Digital Marketing Strategy What does Google Analytics tells us?
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2015 2016Revenue 75,000 500,000
Conversion rate 0.50% 1%
Average Order Value 120 120
Transactions 625 4’167
Visits 125’000 416’667
Digital Marketing Strategy Where did 125’000 visits come from
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Traffic sources VisitsOrganic Search 62,500
Direct 43,750
PPC 12,500
Social (organic) 6,250
125’000
Digital Marketing Strategy Where will 416’667 visits come from in 2016
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Traffic sources 2015Visits
2016Visits
Organic Search 62,500 70’000
Direct 43,750 50’000
PPC 12,500
Social (organic) 6,250 10’000
125’000 416’667
Hows
content marketing
TV
greater investment
organic growth
286’667
Digital Marketing Strategy Complete picture
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2015 2016Revenue 75,000 500,000
Conversion rate 0.50% 1%
Average Order Value 120 120
Transactions 625 4’167
Visits 125’000 416’667
PPC Visits 12’500 286’667
CPC ? 0.76
Budget ? 217’867
Digital Marketing Strategy Incremental value
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2016 Revenue 500,000
Media Cost 217’867
Agency Fees 50’000
Incremental value 232’133
Other costs ?
Profit ?
Digital Marketing Strategy Asking the right questions
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- How are we going to increase conversion rate from 0.5% to 1%, whilst
increasing the volume of transactions and maintain CPC of 0.76 CHF?
- Can we improve user journey to achieve higher conversion rate?
- Should we consider other online advertising channels?
- How can we integrate our email activity?
Digital Marketing Strategy Best practice / recommendations
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- Write your brief in plain English with data-driven insights
- Create a concept with monetisation plan and project the future results (even if wrong!)
- Plan for each channel separately, but create an overview
- Create an implementation roadmap
- Launch, optimise and iterate regularly (follow your roadmap)
Digital Marketing Strategy Launch of a new bank account in Africa
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- New bank account for African residents with international banking needs
- Targeting selected African countries
- Lead generation campaign to reach 1’000 new customers in 3 months
- Budget: approx. CHF 150k
- Digital assets: microsite, main website
Sample Data
Digital Marketing Strategy Q&A - Understanding User Journey
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- Users search or browse websites
- Users land on the Optimum product page (microsite)
- Users learn & explore the benefits of the product
- Users complete the lead capture form
- Sales agent calls within 24hrs
- Prospect receives the paper based application form
- Prospect sends back the application form
- Account gets opened
- Account gets funded by customer
What measures come to mind?
Digital Marketing Strategy Planning - User Journey Mapping - New to bank
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Step Metric Intent Next step
Ad impression CTR Research Landing page visit
Ad click CPC Research Lead form complete
Lead form complete Lead More informationCallback /
Application send
Application received Account pending Account open Funding
etc.
Digital Marketing Strategy Planning - Relevant Channels
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- PPC
- Display sites (direct CPM buy)
- GDN
- YouTube
- SEO?
- Direct entry / referrals
Digital Marketing Strategy Planning - Performance PPC
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Metric Month 1 Month 2 Month 3 Total
Budget 16,000 20,200 23,500 59,700
CPC 0.79 0.76 0.73 0.75
Visits 20,156 26,623 32,360 79,139
Conversion Rate 2.68% 3.17% 3.64% 3.23%
Leads 539 843 1,177 2,559
Digital Marketing Strategy Planning - Performance (All Channels)
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Metric Month 1 Month 2 Month 3 TotalBudget 30,000 40,000 50,000 120,000
Visits 35,294 53,333 71,429 160,056
CPC 0.85 0.75 0.7 0.75
Conversion Rate (Click to Lead) 2.50% 2.50% 2.75% 2.61%
Leads 882 1,333 1,964 4,180
Cost Per Lead 34 30 25 29
Conversion Rate (Lead to A/c) 20% 25% 25% 23.94%
Accounts Opened 176 333 491 1001
Confidential - do not copy, forward or otherwise make accessible to third parties. 25
Oct Nov Dec Jan
User acquisition starts
- Baseline report- Media planning - Microsite design & development- Creative development- PPC & Facebook ads start
- Monthly insights & media reallocation- A/B test - Master creative wins- Landing page improvements- SEO improvements, content creation- Remarketing activation- Challenger creative development
- Monthly insights & improvements- Further campaign & microsite improvements- SEO improvements, content creation- e.g. PPC / Facebook media reallocation (TBC) - Landing page improvements- A/B test - Master creative wins
User journey workshop
Digital Marketing Strategy Planning - Roadmap
Customer acquisition starts
Digital Marketing Strategy Planning - Concept
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- Assumptions re brand awareness, product & offer
- Mobile first & UX led approach
- A/B testing of creatives
- Simplicity of the lead capture process
- All important data touch-points captured
Digital Marketing Strategy Results
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- Generated more leads than necessary (CPL lower than expected)
- Resourcing issues led to account opening issues
- Led to process & full website redesign
- Product insights & New product development
Digital Marketing EcosystemSummary
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Agencies Measure with real $$$, think of the entire user journey
Marketeers Be more hands-on, focus on real
insights with Analysts, stop
relying on agency reports
Analysts / TechData
interpretation, scrutinise /
audit agencies
Business Use your data,
support the user journey
development & monetisation
Five Key Takeaways
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1. Practice the workflow - from the brief to implementation, do this for your own site
2. Types of sites - understand various website types & business models (i.e. lead
generation, e-commerce, content sites)
3. Online marketing channels - understand the mechanics of each channel
4. Data sources - understanding the role of tools & their place, when & how to use data
5. Experiment - break the rules, test & learn on a small budget, gain insights
Thank You
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what.Sihlquai 1318005 [email protected]
What. about giving your digital marketing
strategy more substance?