understanding the impact of your marketing dollars
DESCRIPTION
Having a common language for success is a critical step in understanding the performance of your marketing plan. In this presentation Matt Cooper, Director of Digital Marketing will reviews a methodology that your team can used to define success, measure results, and communicate the performance of your marketing plan. You will learn a clear process that can be used to understand if their marketing budget is being maximized, and how to optimize it for the best results.TRANSCRIPT
Understanding the impact of your marketing dollars
Matt Cooper
Director of Digital Marketing
@mattc
Agenda
Part I – Online Behaviour Part II – Customer Journey Map Part III – Aligning Your Budget
Objective Provide you a framework for increasing your confidence in the allocation of your marketing budget
Part 1: Online Behaviour
Research
Buyers will perform research associated with ZMOT.
2012
Generation Y will not make a purchase until reviewing user
generated content 2014
86% 86%
Engagement
91% Of customers engage with brands online
Hyper Engaged – 62.8% Engage with brands at a high frequency online (Once/Week)
Engagers – 28% Engage moderately with a brand at a frequency of less than once per week
Traditionalists – 9.3% Tend to avoid engagement with brands
Feel engagement is a priority
Feel their company actively manages engagement
86% 45%
The Customer Journey is Online
Part 2: The Customer Journey Map
Customer Journey Map Framework used to map out your target persona’s journey to making a decision.
Problem
I have a problem
Customer Journey
Problem
I have a problem Research
I am looking for a solu;on
Customer Journey
Problem
I have a problem Research
I am looking for a solu;on
Evalua;on
I am assessing solu;ons for my problem
Customer Journey
Problem
I have a problem
Research
I am looking for a solu;on
Evalua;on
I am assessing solu;ons for my problem
Decision
I have selected a solu;on and am prepared to move forward
Customer Journey
Problem
I have a problem
Research
I am looking for a solu;on
Evalua;on
I am assessing solu;ons for my problem
Decision
I have selected a solu;on and am prepared to move forward
Valida;on
Did the solu;on live up to my expecta;ons
Customer Journey
Solara Example
• Offer B2B and B2C products • Offer home and business energy
efficiency solutions • Marketing objective is to generate
leads for sales staff
Solara’s Business
Problem
My hea;ng bills are too high
Research
I go online and research products to reduce costs
Evalua;on
Finds Solara’s website as well as other compe;tors He’s now aware of specific solu;ons available
Decision
He’s now reviewing pricing and availability Fills out contact form to get a home evalua;on
Valida;on
Share experience with friends Post Social Media ques;on Email survey response
Customer Journey : Shawn Home Owner
Think, Feel, Do
Problem
Think • My heating bill is way to high • There must be a way to reduce the amount of money I am
spending
Feel • I wasn’t expecting this house to cost this much to heat
Do • Search for ways to save money when heating his home
Research Think • What options do I have? • Are there ways to save without investing a lot of money? • What government programs are out there? • I wonder what my friends have done?
Feel • I hope there are non expensive ways to handle this • I wish there was a service that would figure this out for me
Do • Refined search • Send out a message to his friends on Facebook
Evaluation
Think • What type of heat pump will fit my house? • What financing options are available?
Feel • I want to make the right decision • There are a ton of solutions to pick from • I need expert advice
Do • Refined search for evaluation services
Decision
Think • A free home evaluation seems like a great first step • How long will it take to get one?
Feel • I feel like I’m on the right track • I can’t wait to know exactly what I can do about it
Do • Calls and books an energy evaluation • Does additional research on things he can do right away
Validation Think • The evaluation was really comprehensive • What is the best bang for my buck? • What financing options best fit the upgrades I’m going to do?
Feel • There are a lot of choices I can make
Do • Check with friends • Conduct additional research
Gap Analysis
Gap Analysis A review of your existing assets ability to address questions that arise in your customer journey.
Gap Analysis Findings Website • Missing up to date government grant information
Advertising Tactics • No remarketing • Existing ads claiming information the website didn’t
have
Customer Feedback • No surveys being sent
How well does your marketing align?
Part 3: Aligning your
budget
• Billboard – 40% • Radio – 20% • Newspaper flyer – 10% • Paid Search – 10% • Display – 10% • Facebook – 10%
Solara’s Ad Budget
Analytics Review
Analytics Review
Paid Search Assisted or converted over 30% of the leads generated on the website
Problem
I have a problem
Research
I am looking for a solu;on
Evalua;on
I am assessing solu;ons for my problem
Decision
I have selected a solu;on and am prepared to move forward
Valida;on
Did the solu;on live up to my expecta;ons
Customer Journey
Radio
Search Facebook Search Search
Before • Billboard – 20% • Radio – 20% • Newspaper flyer – 10% • Paid Search – 10% • Display – 10% • Facebook – 10%
Solara’s Updated Budget After • Billboard – 10% • Radio – 30% • Newspaper flyer – 10% • Paid Search – 20% • Display – 10% • Facebook – 10%
• Research is clear, your customers are online and they want to engage with you
• A Customer Journey Map will help you
understand how your customer behaves and what information they are looking for
• Your analytics can be leveraged to provide you evidence and confidence in your marketing activities are working
Summary
• Start discussions around your customer journey
• Start thinking about your customers on a deeper level
• Use your analytics to validate your
assumptions about how your customers think
• Make sure you budget is aligned with their journey
Recommendations
Questions?
Slide deck at – goo.gl/Vugppl