Planning Your 2014 Digital Marketing Strategy

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With a few short months left in the year, it’s time to tackle the challenging task of planning and budgeting for your 2014 digital marketing activities. eMarketer estimates that B2C and B2B companies will see a 9.9% and 11.1% growth in digital advertising budgets in 2014, respectively. How is your company planning on establishing online marketing goals and budgets for your business and mapping both strategy and tactics to these objectives and resources? In this seminar, Formic Media will cover digital marketing planning and budgeting best practices, trends for 2014 and how to incorporate your key decision makers and digital agency into the process of creating an effective digital marketing strategy.

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Planning Your 2014 Digital Marketing Strategy

  1. 1. Planning Your 2014 Digital Marketing Strategy November 2013 John McPhee Vice President johnm@formicmedia.com 503.517.9059 x122
  2. 2. About Formic Media
  3. 3. About Formic Media • Launched in 2008 to service small business & partners • Specializes in SEO, PPC and Social Media • 100% of Account Team Google AdWords & Google Analytics Certified • Focus on education via monthly Seminar Series
  4. 4. Overview
  5. 5. Overview
  6. 6. Overview
  7. 7. Overview
  8. 8. Overview
  9. 9. Setting Goals
  10. 10. Setting Goals • • • • • • • Specific goal: align to corporate objectives Measurable: set up appropriate tracking Attainable: make it a realistic goal Relevant: tie marketing goals to corporate Time: set timeline for achieving goals Evaluate: collect data and assess goals Re-evaluate: analyze on a regular basis
  11. 11. Budgeting
  12. 12. Budgeting • Review Current Budgets • Review Activities from 2013 (what worked, what didn’t) • Understand the nature of your business, and plan accordingly – Seasonality, sales cycle, competition • Do you need agency/consultant help? • Framing the conversation • Budget calculator
  13. 13. Review Current Budgets • Compare total budgets Year over Year (YoY)
  14. 14. Review Current Budgets • How do budgets compare to revenue YoY?
  15. 15. Review Activities • Break down budgets by activity, determine ROI – What should we be doing more of?
  16. 16. Review Activities • Dig deeper… • Break costs down even further Roughly 66% of spend is going towards Google right now. Should it be?
  17. 17. Review Activities • Compare search engines, see where more efforts should be placed Google is responsible for 64% of conversions in 2013
  18. 18. Review Activities • Compare search engines, see where more efforts should Google has the lowest CPA, which be placed means we’re spending less per sale on Google. The majority of the budget should be placed on Google
  19. 19. Plan Accordingly • Do you have seasonality in your business? • Ex. You sell widgets that are a hot item during the holidays, bump up your ad spend
  20. 20. Plan Accordingly • Consider running promotions throughout the year – Full price vs. discount strategies – Free shipping – Promote certain products/services • Plan accordingly as costs could be affected – Do you need to create content? – Increase PPC spend? Update ad text? Update Landing pages? – Promote via social media (i.e. more time?)
  21. 21. Plan Accordingly • Create a calendar to help plan for additional costs – Content – Ad spend – Consultants
  22. 22. Framing the Conversation • Do you need to sell to your boss to get more budget? Do your homework. – Understand the company’s goals – Discuss previous ROI from marketing activities, and if possible, how they compare to other efforts – Mention the competition (especially if they are doing what you are proposing) – Provide case studies or backup data that can help sell your idea – Get to the point, they don’t have a lot of time
  23. 23. Budget Calculator • Need help setting a marketing budget? – Rule of Thumb: 8%-10% of total sales/revenue – Aggressive: 10%-15% of total sales/revenue • Calculators can be useful and help provide some direction
  24. 24. Budget Calculator (long term) • Determine your annual revenue & time frame • This calculator is low (suggesting about 2%)
  25. 25. Budget Calculator (somewhat aggressive)
  26. 26. Budget Calculator (very aggressive)
  27. 27. Measurement
  28. 28. Measurement • Benchmark progress • What metrics should you measure? • Tracking tools
  29. 29. Benchmark Progress • Need to understand progress on a regular basis – Are you seeing improvement? • SEO • PPC • Social Media • Email marketing • Phone calls • Foot traffic
  30. 30. What Metrics Should You Measure? • SEO – Share of Visits • Direct, Referral, Search Engine – Organic search visits • Review by engine (Google vs. Yahoo vs. Bing) – URL/Page traffic • Due to ‘Not Provided’ we now need to understand which pages drive lots of traffic – this gives insights into keywords that are performing well – Search rankings
  31. 31. Measurement Tools - SEO • Google Analytics
  32. 32. Measurement Tools - SEO • Google Webmaster Tools
  33. 33. Measurement Tools - SEO • Google Webmaster Tools
  34. 34. Measurement Tools - SEO • Google Webmaster Tools
  35. 35. Measurement Tools - SEO • Link Measurement Tools
  36. 36. What Metrics Should You Measure? • PPC – Impressions / Clicks • Identifies which keywords are driving traffic – Cost per Click (CPC) • Helps determine what budget should be set to – Click-Through Rate (CTR) • Helps determine which keywords/ads are performing – Quality Score • Higher quality score = lower CPC – Conversions & Cost per Conversions – Return on Ad Spend • Profit / Cost
  37. 37. Measurement Tools - PPC • Google AdWords/Bing Ads Dashboard
  38. 38. Measurement Tools - PPC • Google Analytics
  39. 39. Measurement Tools - PPC • Google Keyword Planner
  40. 40. What Metrics Should You Measure? • Social Media – Facebook • Likes, Comments, Shares – Twitter • Retweets, Replies, Favorites, Followers – Google+ • +1’s, Circles added to, Comments – Pinterest • Likes, Repins, Comments
  41. 41. Measurement Tools – Social Media • Sprout Social
  42. 42. Measurement Tools – Social Media • Facebook Insights
  43. 43. Measurement Tools – Social Media • Google Analytics
  44. 44. Re-cap
  45. 45. Recap • • • • • • Review previous years’ performance Set high level goals realistic goals (revenue) Understand what resources you’ll need Account for seasonality/promotions/etc. Set specific goals for activities (SEO, PPC, etc) Track your efforts and review metrics
  46. 46. Thank You! John McPhee Vice President johnm@formicmedia.com 503.517.9059 x122

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