University of Washington: Foster School of Business - Digital Marketing Measurement for Entrepreneurs

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Presentation from Spring Creek Group Lecture to MBA Candidates at University of Washington: Foster School of Business - The topic of discussion was Digital Marketing Measurement for Entrepreneurs. topics covered

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  • Working on my 3rd start-up…1998 – ubid.com ->CMGI2003 – Photoworks.com -> American Greetings2009 – Spring Creek Group -> ???
  • Abraham Lincoln = If you have only 4 hours to fall a tree…SMART Goals = Specific, Measureable, Actionable, Relevant and TimelyQuality of life is directly proportional to the amount of uncertainty one can handle
  • SMART Goals: Specific, Measureable, Actionable, Relevant and Timely
  • SMART Goals: Specific, Measureable, Actionable, Relevant and Timely
  • SMART Goals: Specific, Measureable, Actionable, Relevant and Timely
  • SMART Goals: Specific, Measureable, Actionable, Relevant and Timely
  • SMART Goals: Specific, Measureable, Actionable, Relevant and Timely
  • SMART Goals: Specific, Measureable, Actionable, Relevant and Timely
  • University of Washington: Foster School of Business - Digital Marketing Measurement for Entrepreneurs

    1. 1. Digital Marketing Measurement for Entrepreneurs<br />Xavier Jimenez, Principal Spring Creek Group<br />
    2. 2.
    3. 3. Overview:<br />My focus today is DIGITAL measurement strategy<br /><ul><li>Discuss how to use a measurement framework that relies on processmore than tools or technology</li></li></ul><li>Background<br />
    4. 4. Background<br />I run the Analytics and Measurement practice for Spring Creek Group and we:<br />…are the largest social media marketing firm in the Pacific Northwest, and one of the leading agencies nationally focused on social media measurement.<br />…partnering with companies of all sizes to measure social media then identify and seize opportunities to engage target audiences online.<br />…specialized in three services practice areas:<br /><ul><li>Online Brand Analytics & Monitoring
    5. 5. Social Media Channel Strategy & Planning
    6. 6. Community Management & Interactive Campaigns</li></ul>About Me: <br />Principal, Spring Creek Group <br />12+ years of experience building digital marketing infrastructure, analytics & measurement process and digital information systems for technology start-ups.<br />
    7. 7. Measuring what matters<br />
    8. 8. If you are in a hurry… the first thing you need to do is slow down… and make sure you are asking the right questions.<br />Make sure everyone in the organization is “on board” with performing S.M.A.R.T. measurement <br />Reliance on tools, fuels analysis paralysis…<br />Creating a measurement culture<br />
    9. 9. Our Point of View<br />Listening, Monitoring, & Analysis<br />Customer Engagement & Marketing Programs<br />Channel Strategy & Planning<br />Let data drive Brand, Product & Marketing decision making and program management<br />Time<br />Our methodology = ITERATIVE LEARNING CYCLE of gathering new data and turning that data into ideas and actions that drive positive business outcomes.<br />
    10. 10. Method<br />Question - the current method for achieving the organizations stated objective and determine whether additional tools and methods are needed<br />Research  - the organization’s current belief system related to what is currently known about the audience<br />Hypothesis - about the "nature", "impact" and "levels" of engagement" that will happen once the audience is introduced to the campaign<br />Test - Launch Campaign 1.0 with specific and predetermined goals and track every post, tweet, comment, click, link exchange, conversation and media impression possible<br />Analyze - Categorize, classify, and order the data based on the stated goals and objectives of the campaign, as well as the actual behaviors, intentions and actions of the participants<br />Validate/Invalidate - Assess the business outcome(s) and refine the hypothesis as needed<br />Report - Publish timely and accurate dashboards, scorecards and reports that organize meaningful data into actionable insights <br />
    11. 11. Caution – Tools Ahead!<br />Our POV : Data Should Drive Your Social Brand, Product, and Community Initiatives<br />At SCG:<br />Tools – both licensed and proprietary – are only a component of effective social media programs, but are often an important way we build scale in all that we do.<br />People and process are what make data actionable.<br />
    12. 12. Measuring what matters<br />Community<br />Buzz<br /><ul><li>Brand commentary, ratings and other UGC published on corporate website, microsite.
    13. 13. Brand commentary, rants, raves and other UGC published on third-party websites, web applications and mobile.</li></ul>(Measure using CMS tools like SalesForce, wordpress stats, etc.)<br />(Measure using tools like radian6, Techrigy SM2, google alerts, etc.)<br /><ul><li>Cost per CS resolution
    14. 14. Comments/post
    15. 15. UGC content /total content
    16. 16. Volume
    17. 17. Engagement
    18. 18. Sentiment</li></ul>sentiment<br />Controlled Uncontrolled<br />Audience<br />Website<br />1 = Controlled On site Content<br />2 = Controlled Off site Content<br />3 = Uncontrolled On site Content<br />4 = Uncontrolled Off site Content<br /><ul><li>Traditional marketing messages/content published on corporate website or microsite.
    19. 19. Traditional marketing messages/content published on third-party website or microsite.</li></ul>(Measure using web analytics tools like google analytics, omniture, webtrends, etc.)<br />(Measure using click-stream analytics tools like google adwords, atlas, @plan, etc.)<br /><ul><li>Bounces, UV’s
    20. 20. LP conversion
    21. 21. Sales, CLTV
    22. 22. Impressions
    23. 23. Video views
    24. 24. CTR</li></ul>On Site Off Site<br />content<br />
    25. 25. Example Measurement Campaign<br />ACME Organic Sunscreen<br />
    26. 26. Organic Sunscreen Manufacturer wants to use social media to drive new online visitors and increase brand awareness.<br />Example<br />Objective = Identify Top Blogs based on volume<br />Goal = Identify Key metrics that can be used to evaluate engagement opportunity<br />Key Drivers:<br />Blogs sending traffic to your site include mommy blogs, where site discussion is highly on topic and there are specific mentions of organic sunscreen products which are increasing in frequency over the last 30 days.<br />Overall Brand mentions were mostly neutral, (82%) but 16% positive and only 2% negative for the period.<br />
    27. 27. Example<br />Research shows that mothers have been sharing information about your chemical-free sunscreen products and conversation is highly focused on “fragrance”.<br />Hypothesize that a highly focused and product specific outreach campaign, on the top 20 mommy blogs, promoting your products may find success in this community.<br />
    28. 28. Example<br />ACME sunscreen<br />Configure web analytics tools to track the “pass-along” and conversion of your brand’s social content via tweets, blog posts, Facebook postings etc. <br />Determine which content and what source is driving the most desired behaviors.<br />Compare earned media cost per action to paid media.<br />700 visits<br />1200 visits<br />6300 visits<br />300 visits<br />
    29. 29. Example<br /><ul><li>Test seeding offers of 20%-off the sunscreen on the mommy blogs where the discussions are taking place.
    30. 30. Display Buys
    31. 31. Personal “on-topic” and relevant engagements</li></ul>Buy ACME sunscreen & win a ride on this unicorn!<br />
    32. 32. Example<br /><ul><li>If you find success, re-test creative that is platform and media specific as well.
    33. 33. Ex. create a Twitter promotion such as:
    34. 34. Identify top Re-tweeters
    35. 35. Track CTR using url shorteners
    36. 36. Identify top LP’s
    37. 37. Compare cost per action to paid media</li></ul>Moms: Get 20% off the only truly chemical-free sunscreen this week only. http://bit.ly/yourtrackingcodehere <br />
    38. 38. The measurement “Brief”<br />
    39. 39. 1<br />2<br />3<br />Start with a business question, problem, issue or opportunity<br />From that question, set clear and simple Objective(s)<br />Define Goal(s) designed to achieve objectives<br />Your Strategies must support goals<br />Your Metrics for measuring success should be (S.M.A.R.T)<br />4<br />
    40. 40. Case studies<br />
    41. 41. Examples of well executed measurement strategy<br />For large online-pure-play businesses, direct response measurement principles often take precedence.<br />Measuring causal actions (activities, transactions) is best.<br />Measuring, at minimum, the change in traffic over time and whether the ratio of “organic traffic” changes in concert with or in association w/ sustained digital/social media marketing activities is key. <br />The change in traffic patterns of any social media effort should always be measured and compared to other channels. <br />For small to medium sized businesses with significant offline presence focusing on achieving greater brand awareness, customer advocacy and content ‘pass-along’ often takes precedence. <br />For sales conversion models that don’t necessarily run through an e-commerce enabled website, highly-correlated factors aligned with business success in the long-run, could be most important. <br />
    42. 42. Dell Outlet faces a common but difficult business challenge. A division of the giant made-to-order computer business, Dell Outlet carries refurbished equipment and other inventory that it needs to sell quickly. Because the division has to get the word out fast, it can’t rely on large/slow advertising agencies, but rather relies primarily on email marketing and search-engine marketing to raise awareness and drive sales. <br />It’s always looking for new, cost-effective ways to reach people.<br /> So early in 2008 when it heard about twitter it quickly and stared… Listening -> Hypothesizing -> Testing & now Dell Outlet is a household name among the twitter elite and it has more than 80 Dell-branded twitter accounts<br />
    43. 43. Does it work? <br />Yep!, not only do Dell’s promotional tweets get retweeted and picked up by coupon sites—which spread the brand name and also drive sales. <br />Dell Outlet has booked more than $3 million in revenue attributable to its Twitter posts. In addition, the division has done research showing that awareness of the outlet has grown, too. <br />“The uplift has been more than we dreamed,” – so says Stefanie Nelson, manager of demand generation at Dell Outlet. <br /><ul><li>Dell established their Twitter account over two years ago
    44. 44. Dell measures and “track sales using web analytics best practices
    45. 45. Dell “has raked in more than $3 million from Twitter followers </li></li></ul><li>Naked Pizza<br />Naked Pizza a New Orleans pizza takeout and delivery restaurant with a mission to make an unhealthy and popular fast food healthier, more nutritious, and better tasting!<br />Naked Pizza has annually revenues of over 1 Million and has a significant Twitter presence according to co-founder Jeff Leach.<br />Leach posts up to 15 times a day and said his company is primarily using Twitter to market to an area with a 3 mile radius.<br />
    46. 46. Naked Pizza has a sustained 20 percent of sales dollars coming from its Twitter presence. <br />They use Google Analytics to monitor their website activity and determine which pizza’s are best sellers to its online audience which drives a significant portion of its total business<br />By aggressively measuring its most profitable channel, Twitter, it has made such a difference for Naked Pizza that they removed the “call for delivery "billboard in front of the restaurant and changed it to “twitter – follow us for specials –www.twitter.com/nakedpizza”<br />Jeff himself has said, about his sign, “I didn’t do it to get TechCrunch talking, I did it to reach the 35,000 people who drive by the store every day.”<br />Naked Pizza<br /><ul><li>20% of total sales from twitter
    47. 47. Set a one day sales record of 65% of sales from Twitter
    48. 48. 85% of new customers from Twitter</li></li></ul><li>Pink Cake Box<br /> Pink Cake Box is a specialty baker in New Jersey that specializes in custom wedding cakes, cupcakes and cookies always made with an individual flair. <br />PCB has over ten talented cake decorators and bakers and employees who are committed to their ever growing community of returning customers.<br />In order to stay connected to their customers, PCB employees blog, post videos and images of their cakes on Twitter, Facebook, Flickr and YouTube. <br />As a result of very small but focused marketing budget they’ve been on the Rachel Ray show, Food Network and CNN Headline News.<br />
    49. 49. Pink Cake Box<br /><ul><li>Use blog to offer a constant stream of new cakes, contests, & videos.
    50. 50. Over 2000 twitter followers and 4700 facebook fans.
    51. 51. The blog sees about 120,000 visits per month and drives a majority of custom cake orders.
    52. 52. PCB measures and manages blog performance using Google Analytics
    53. 53. Initially they placed an emphasis on traffic, which worked, but they quickly reached a saturation point where high traffic started contributing to a deluge of “information seekers”.
    54. 54. PCB didn’t have the capacity to handle this deluge and realized that the “more traffic the better” mantra needed to be refined.
    55. 55. They began focusing content on products that lead to better order conversions and focused our measurement on traffic from our strategic focus areas.</li></li></ul><li>Q & A Session<br />Questions?<br />
    56. 56. THANK YOU<br />…or Join / Follow / Read at…<br />311 B Occidental Ave. S. <br />Suite #200 <br />Seattle, WA 98104<br />206.453.1120<br />www.SpringCreekGroup.com<br />http://tinyurl.com/SCG-FB<br />http://www.twitter.com/SpringCreekGrp<br />http://www.SpringCreekGroup.com/blog<br />

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