How to Maxmise the Return On Investment (ROI) from Your Marketing Spend with Nicki Walsh

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Whether your marketing budget is big or small, its important to make sure you are getting a Return On Investment (ROI). …

Whether your marketing budget is big or small, its important to make sure you are getting a Return On Investment (ROI).

Discover the steps you can take to ensure you are getting the most Bang for your Buck on our ‘How to Maximise your ROI’ webinar presented by Nicki Walsh

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  • 1. Maximising Your Marketing ROI
  • 2. Maximising Your Marketing ROI Suzi Dafnis Australian Businesswomen’s Network
  • 3. Maximising Your Marketing ROI Q&A
  • 4. Maximising Your Marketing ROI TWITTER Use tag: #abnroi Follow along: •Suzi is @suzidafnis •Nicki is @blazemarketing
  • 5. Maximising Your Marketing ROI
  • 6. Maximising Your Marketing ROI Nicki Walsh Blaze Marketing
  • 7. Maximising Your Marketing ROI The Big Idea© 2012 Blaze Marketing
  • 8. Maximising Your Marketing ROI All sizzle no substance© 2012 Blaze Marketing
  • 9. Maximising Your Marketing ROI A Well Devised and Practical Strategy© 2012 Blaze Marketing
  • 10. Maximising Your Marketing ROI Metrics A wise adman once said: “50% of my advertising spend is wasted, the trouble is I don’t know which 50%”© 2012 Blaze Marketing
  • 11. Maximising Your Marketing ROI Metrics Just Measure!© 2012 Blaze Marketing
  • 12. Maximising Your Marketing ROI What Can You Measure? 1.Marketing Spend 2.Market Segmentation Data eg industry, buyer type 3.ROI % 4.CPL (Cost Per Lead) 5.CPS (Cost Per Sale) 6.Brand Awareness & Depth 7.Retention / Attrition Rates 8.Engagement – Time on site, most read articles, most visited pages etc 9. Open Rates / Click Through Rates etc© 2012 Blaze Marketing
  • 13. Maximising Your Marketing ROI A Simple ROI Formula ROI = Profit – investment cost _________________________ Investment cost Example: ROI = $10,000 – $4000 _________________________ $4000 1.5 = 150% ROI© 2012 Blaze Marketing
  • 14. Maximising Your Marketing ROI Where Are Those Metrics Hiding? 1.Your website 2.Facebook, Twitter, Linked In 3.Social Media Dashboard 4.Lead Handling / Sales Meetings 5.Your CRM 6.Your Accounting System 7.Email Broadcasting System 8.Yellow Pages Online 9.Directory Sites like Hot Frog To name a few…© 2012 Blaze Marketing
  • 15. Maximising Your Marketing ROI Dashboard Build A MANAGEABLE Dashboard Leads Sales Lead to Sale Conversion annual revenues 450 $3.22 400 $3.15 350 $3.07 300 $3.35 250 New Leads $3.36 200 Aging Leads 150 $3.08 100 50 0 Oct Nov Dec Jan Cost Per Lead & Cost Per Sale Brand Attrition Rates (Retention) 18% 100 16% 17.7% 90 16.2% 80 14% 14.2% 70 Affordable 12% 13.3% 12.6% 60 Easy to Use 10% 50 Guarantee 8% 40 Cost Per Fast Response 6% 30 Lead Awareness 4% 20 Cost Per 10 Sale 2% 0 0% 20% 40% 0% Oct Nov Dec FY06 Q1 07 Q2 07 Q3 07 Q4 07© 2012 Blaze Marketing
  • 16. Maximising Your Marketing ROI Don’t Forget To Test Try some A/B Testing of your next direct mail piece, two different landing pages on your website or subject lines in your next e-news to see what gets the best results…© 2012 Blaze Marketing
  • 17. Maximising Your Marketing ROI Test and Learn Process Insights Insight Small Strategy Plan Small Strategy Execute Measure Small Strategy Review Small Strategy The move in marketing is towards more smaller marketing activities that are strategically focussed on a key insight so its more targeted than one big broad brush campaign.© 2012 Blaze Marketing
  • 18. Maximising Your Marketing ROI Innovative “Innovation is the creation of better or more effective products, processes, services, technologies, or ideas.”© 2012 Blaze Marketing
  • 19. Maximising Your Marketing ROI Innovative Adopt. Adapt. Invent© 2012 Blaze Marketing
  • 20. Maximising Your Marketing ROI Integrated Push The Boundaries Where else can you use that marketing activity? How else can you leverage it for a multi-pronged approach?© 2012 Blaze Marketing
  • 21. Maximising Your Marketing ROI Integrated “ Consumers don’t see the difference between marketing channels. They just see the brand and then use the channel that’s most convenient for them at that time.” -eMarketer© 2012 Blaze Marketing
  • 22. Maximising Your Marketing ROI Internal Marketing Why spend valuable time and money on marketing internally when it’s the external market that spend the money?© 2012 Blaze Marketing
  • 23. Maximising Your Marketing ROI Is the Business Engaged? Ambassadors or Saboteurs? "The way a team plays as a whole determines its success. You may have the greatest bunch of individual stars in the world, but if they dont play together, the club wont be worth a dime.” Babe Ruth© 2012 Blaze Marketing
  • 24. Maximising Your Marketing ROI Practical Strategy Adjust Measure Review© 2012 Blaze Marketing
  • 25. Maximising Your Marketing ROI Map Out A Strategy Take the time and money up front to map out a marketing strategy or plan. Marketing is an investment so why wouldn’t you plan for it. It will mean your marketing efforts are more targeted to get better results and you will be able to leverage every dollar spent.© 2012 Blaze Marketing
  • 26. Maximising Your Marketing ROI Don’t Forget The Basics© 2012 Blaze Marketing
  • 27. Maximising Your Marketing ROI Where to Start! 1.Take Stock 2.Focus 3.Be Strategic & Test 4.Innovate 5.Integrate 6.Engage 7.Measure & Review 8.Cover The Basics© 2012 Blaze Marketing
  • 28. Maximising Your Marketing ROI Nicki Walsh Blaze Marketing @blazemarketing /blazemarketingaust /blaze marketing
  • 29. Maximising Your Marketing ROI Q&A Use the Question Pane to Ask Your Questions
  • 30. Maximising Your Marketing ROI Nicki Walsh Blaze Marketing www.blazemarketing.com.au
  • 31. Maximising Your Marketing ROIComing Up:
  • 32. Maximising Your Marketing ROIOn Now!
  • 33. Maximising Your Marketing ROI Nicki Walsh Blaze Marketing www.blazemarketing.com.au
  • 34. Maximising Your Marketing ROI Become a member today. www.abn.org.au