marketing measurement - measure to manage!
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*Measure it, Manage it! DIGITAL INNOVATION SERIES
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#measure2manage @brunnerworks
Once upon a time, marketers walked into budget meetings like neighborhood junkies.
They couldn’t always justify how well they spent past handouts or what difference it all made.
They just wanted more money—for flashy TV ads, for big-ticket events, for Facebook, for, you know, getting out the message and building up the brand.
`
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Shaun QuigleyVP, Digital Practice Director [email protected] 741 8074 phone@squigster
Katie BicknellSVP, DirectorMeasurement & [email protected] 412 995 9546 phone
#measure2manage @brunnerworks
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#measure2manage@brunnerworks
#measure2manage @brunnerworks
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#measure2manage @brunnerworks
40% of respondents who are using online video lack a mechanism to measure video starts.
Of the 22.7% that are using mobile, 73% can measure if website visitors are coming from a mobile device, but only 30% are able to measure their mobile app conversions.
41% of those using social media lack a mechanism to measure social media conversion.
86% of respondents think conversion rate from online marketing activities is important to measure, but 25% cannot effectively measure it.
80% believe ROI from online marketing activities is important to measure, but only 31% of marketers can effectively measure it.
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#measure2manage @brunnerworks
3 framework pitfalls tools
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Measurement Glossary
METRIC : a measurement that makes it possible to compare “apples to apples”
BENCHMARK: a standard to measure against. “Where are we now?”
KPI: a metric to measure progress toward business goals. An outcome.
KPD: a metric that contributes directly to a KPI. A leading indicator.
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“Too often we measure everything and understand nothing.”
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“Too often we measure everything and understand nothing.”
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Before you begin
1. What’s the business goal? 2. How will this effort help achieve it? 3. What will be measured? 4. How will it be measured? 5. Do benchmarks exist?
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#measure2manage @brunnerworks
Courtesy: SpeckMedia.com
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Courtesy: SpeckMedia.com
Earned
Bought
Owned
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10 Commandments of Measurement
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I
have clear marketing objectives
#measure2manage @brunnerworks
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AB
#measure2manage @brunnerworks
benchmarks
objectives
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• To increase awareness.
• To generate trial.
• To grow sales.
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To _____ ______ from _____ to ______
by _______
ACTION VERB WHAT BENCHMARK METRIC POINT B METRIC
WHEN
SMART Objectives:
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• To raise awareness.
• To generate trial.
• To grow sales.
• To increase awareness of XYZ Brand from 23% to 45% by end of Q3.
• To gain trail of XYZ New Product among 13% of lapsed customers by June 30, 2010.
• To increase year-over-year same store sales by 1% by the end of the Q2 campaign.
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II
have faith in the funnel
#measure2manage @brunnerworks
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Align Measurement by Target & Objectives CHANNEL/TRADE
• Brand Attributes, Benefits • Brand-Channel programs
• Trade Web traffic• Trade communications • Brand Buzz (trade)
•Participation in trade programs•Level of participation
•CRM Metrics•Trade Involvement Segmentation•Trade Satisfaction
•Trade net promoter score
CONSUMER
• Brand Awareness, •Perceptions• Recall
• Web Traffic, interaction • Brand Buzz (Social Media)• Program/CRM enrollment
• Offer response rates• Coupon redemption• Sales conversion rates
•CRM Metrics• Segmentation (4% Factor)• Customer Satisfaction
• Referral Program Response Rates• Customer Net Promoter Scores
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III
easy ≠ effective
#measure2manage @brunnerworks
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Sales Metrics
Brand Health
Website Traffic
Social Media Search
Campaign Metrics
CRM – new registrants
*Varies based on client objectives. +Varies based on data availability & quality.
CRM – relationship metrics
Product Usage
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Broadcast Media
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III
there’s no one magicnumber
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IV
integrate short and long term
metrics
#measure2manage @brunnerworks
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SHORT TERM
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SITE TRENDS
Metric Goal ActualTotal visits #### #####Registrants #### #####Votes #### #####
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TIME SPENT
Goal Actual0:00 0:00
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Examples of Key Performance Indicators (Strategic Metrics)
Brand Performance Business Performance
•Awareness•Recall•Preference•Buzz Factor•Vitality•Loyalty•Net Promoter Score•Share of Voice•Customer Satisfaction/Advocacy •Stakeholder Opinion•Internal Measurements
Sales Growth• New Customers• Retention Rate• Increased Share• Increased Usage• Increased Profitability• Gross MarginDistribution Growth• New Retailers• Geographic Coverage (BDI/CDI)• ACV
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LONG & SHORT Key Performance Indicators (Strategic Metrics)
Brand Performance Business Performance
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Key Performance Indicators (Strategic Metrics)
Brand Performance Business Performance
Customer Relationship
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Key Performance Drivers (Campaign Metrics)
Public Relations Media Digital DirectPrint/
ElectronicOnline, Social
PRTV/Print/Electronic
Online, Mobile, Social Media Advertising
Website, Mobile, etc.
Email, Mobile, Social Direct
Postal
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YOU NEED BOTH
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V
Fuse data into marketing
process
#measure2manage @brunnerworks
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Courtesy: SpeckMedia.com
Earned
Bought
Owned
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KATIECricket Mash-up
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Objectives, Strategy Development
• Benchmarks• KPIs based on objectives
Marketing Plan Development
• ProForma• KPD metrics, sources
Campaign Execution & Optimization
• Review & Renew Sessions
Fuse measurement into the marketing process
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VII
bridge themarketing/finance gap
#measure2manage @brunnerworks
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finance marketing
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VIII
RinseReuse
Recycle
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IX
pressure your
partners
#measure2manage @brunnerworks
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Ask your partners 1. Is measurement part of this project scope? 2. What tracking tools will be used? 3. How does reporting work? 4. What is the process and what resources are
needed on my end? 5. Who on your team is on the hook for
measurement strategy?
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X
make it part of your culture
#measure2manage @brunnerworks
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c-suite financeHR brand partners
What are we measuring? How are we measuring it?
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I have clear objectives
#measure2manage @brunnerworks
II
III
IV
V
easy ≠ effective
there’s no one magic number
use short + long term metrics
have faith in the funnel
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VI
#measure2manage @brunnerworks
VII
VIII
IX
X
bridge the gap with finance
rinse, reuse, recycle
pressure your partners
make it part of your culture
fuse data into the process
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47#measure2manage @brunnerworks
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*Measure it, Manage it! DIGITAL INNOVATION SERIES
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Shaun QuigleyVP, Digital Practice Director [email protected] 741 8074 phone@squigster
Katie BicknellSVP, DirectorMeasurement & [email protected] 412 995 9546 phone
#measure2manage @brunnerworks
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50#measure2manage @brunnerworks