• Share
  • Email
  • Embed
  • Like
  • Save
  • Private Content
Webcast: Why Marketing Analytics Matters
 

Webcast: Why Marketing Analytics Matters

on

  • 1,252 views

Thanks everyone who participated in this webcast from The Association of International Product Marketing and Management (AIPMM). ...

Thanks everyone who participated in this webcast from The Association of International Product Marketing and Management (AIPMM).

Marketing analytics can boost product sales by predicting and measuring the effectiveness of marketing efforts. Few dispute its power. Yet many people do not take advantage of the full breadth of analytics tools and techniques, often because they do not know where to start. In this webinar, we cover the benefits of marketing analytics, a framework for mastering the topic, and several quick and easy techniques to get you started. We show how you can apply the field of marketing analytics to boost performance in multiple product areas, from market sizing, to segmentation, to deciding which features to include in a product, and more. See how to apply the power of marketing analytics to transform your products from "meh" to mesmerizing.

About the Speaker
Stephan Sorger is the "Analytics Ambassador." He developed the 500 page book, "Marketing Analytics: Strategic Models and Metrics." He applied marketing analytics in his work at consulting organization On Demand Advisors. He is an Honored Instructor at UC Berkeley Extension, where he teaches courses in marketing analytics. Online measurement company Demand Metric (demandmetric.com) touts him as a "marketing analytics and measurement genius." Learn more at StephanSorger.com.

Upcoming Events
For more information regarding certification courses near you, contact Hector Del Castillo at http://linkd.in/hdelcastillo.

About AIPMM
The AIPMM is the hub of all things product management. It is where product professionals go for answers. With members in over 65 countries, it is the worldwide certifying body of product team professionals.

It is the world's largest professional organization of product managers, brand managers, product marketing managers and other product team professionals who are responsible for guiding their organizations, or clients, through a constantly changing business landscape.

AIPMM's certification programs are internationally recognized because they allow product professionals to demonstrate their expertise and provide corporate members an assurance that their product management and marketing teams are operating at a high competency level.

Visit www.aipmm.com.

Upcoming Webinars: http://aipmm.com/aipmm_webinars/
Subscribe: http://www.aipmm.com/subscribe
LinkedIn: http://www.linkedin.com/company/aipmm
Membership: http://www.aipmm.com/join.php
Certification: http://aipmm.com/html/certification
Articles: http://www.aipmm.com/html/newsletter/article.ph

Statistics

Views

Total Views
1,252
Views on SlideShare
1,164
Embed Views
88

Actions

Likes
1
Downloads
0
Comments
0

1 Embed 88

http://www.aipmm.com 88

Accessibility

Categories

Upload Details

Uploaded via as Adobe PDF

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

    Webcast: Why Marketing Analytics Matters Webcast: Why Marketing Analytics Matters Presentation Transcript

    • © AIPMM 2013 www.aipmm.com AIPMM Webinar Series www.aipmm.com
    • © AIPMM 2013 www.aipmm.com
    • © AIPMM 2013 www.aipmm.com – Founded 1998 – World’s largest professional association for product management, product marketing and brand management – Provides globally recognized certifications: • Certified Product Manager • Certified Product Marketing Manager • Agile Certified Product Manager • Certified Innovation Leader • Certified Brand Manager
    • © AIPMM 2013 www.aipmm.com AIPMM: @AIPMM Stephan Sorger: @StephanSorger Tweet!
    • © AIPMM 2013 www.aipmm.com Three lucky winners will win a copy of Stephan’s latest book: “Marketing Analytics: Strategic Models and Metrics” Participate and Win!
    • © AIPMM 2013 www.aipmm.com Today’s Speaker Moderator: Hector Del Castillo, Product Innovation Consultant Presenter: Stephan Sorger Website: www.stephansorger.com LinkedIn: www.linkedin.com/in/stephansorger Twitter: @StephanSorger
    • © AIPMM 2013 www.aipmm.com FEATURED PRESENTATION
    • Why Marketing Analytics Matters Association of International Product Marketing and Management (AIPMM) July 12, 2013 Stephan Sorger © Stephan Sorger 2013 www.StephanSorger.com; Marketing Analytics: Cover Page
    • On Demand Advisors: Process © Stephan Sorger 2013 www.StephanSorger.com; Marketing Analytics: Introduction 1.7 2. Market Definition 3. Lead Generation 4. Lead Management 5. Sales Enablement 1. Revenue Engineering
    • On Demand Advisors: Clients © Stephan Sorger 2013 www.StephanSorger.com; Marketing Analytics: Introduction 1.7
    • On Demand Advisors: Upcoming Events © Stephan Sorger 2013 www.StephanSorger.com; Marketing Analytics: Introduction 1.7 Revenue Acceleration Workshops Learn how to significantly grow revenue without costly marketing and sales experimentation. See how to “engineer” revenue for growth & predictability. Boston, MA July 23, 2013, 8AM – 2PM Miami, FL July 30, 2013, 8AM – 2PM San Diego, CA August 27, 2013, 8AM – 2PM $395 per person; Discounted price of $325 for AIPMM members; Use code “AIPMM” To register, go to OnDemandAdvisors.com or call 800.208.5688
    • © Stephan Sorger 2013 www.StephanSorger.com; Marketing Analytics: Cover Page New Book: “Marketing Analytics: Strategic Models and Metrics” Authoritative Guide to Marketing Analytics • Over 10 years of professional experience • Over 5 years of academic research Comprehensive • Nearly 500 pages of text • Nearly 400 figures, tables, and graphs Practical • Structured around marketing and products, not math • Packed with examples Available on Amazon.com: • Search on “Marketing Analytics” www.amazon.com/Marketing-Analytics-Strategic-Models-Metrics/dp/1481900307/
    • © Stephan Sorger 2013 www.StephanSorger.com; Marketing Analytics: Cover Page Top Concerns of Product Managers Pragmatic Marketing Annual Survey: 2013 State of Product Management & Marketing* Biggest Gaps: Importance of Activity vs. Competency • Market Problems  Market analysis • Win/ Loss Analysis  Competitive analysis • Product Profitability  Profitability analysis • Customer Retention  NPS metrics, etc. *Source: https://pragmatic-marketing-469ad240.s3.amazonaws.com/PDF/AnnualSurvey2013Final.pdf
    • Topic Description Definition (Broad) Broad definition (but too vague): Data analysis for marketing purposes, from data gathering to analysis to reporting Definition (Applied) Techniques and tools to provide actionable insight - Models - Metrics Models Decision tools, such as spreadsheets Metrics Key performance indicators to monitor business Marketing Analytics: Definition © Stephan Sorger 2013 www.StephanSorger.com; Marketing Analytics: Introduction 1.3
    • Models and Metrics © Stephan Sorger 2013 www.StephanSorger.com; Marketing Analytics: Introduction 1.7 Metrics = Gauges: - Monitor situation - Diagnose problems Models = GPS: - Representation of Reality - Decide on course of action
    • Trends Driving Marketing Analytics Adoption © Stephan Sorger 2013 www.StephanSorger.com; Marketing Analytics: Introduction 1.4 Marketing Analytics Adoption Online Data Availability Reduced Resources Massive Data Accountability Data-Driven Presentations
    • Marketing Analytics Advantages © Stephan Sorger 2013 www.StephanSorger.com; Marketing Analytics: Introduction 1.5 Marketing Analytics Advantages Persuade Executives Side-step Politics Encourage Experimentation Drive Revenue Save Money
    • Confusion: What is Marketing Analytics? © Stephan Sorger 2013 www.StephanSorger.com; Marketing Analytics: Introduction 1.5 “It’s a Snake!” It must be Marketing Automation! “It’s a Fan!” It must be Social Media! “It’s a Tree!” It must be Google Analytics! “It’s a Wall!” It must be Big Data! “It’s a Rope!” It must be Predictive Analytics!
    • Example: Tracking the Wrong Metrics © Stephan Sorger 2013 www.StephanSorger.com; Marketing Analytics: Introduction 1.5 McDonald’s Campaign 2010 • Used location-based media • Selection of metrics: • Social media camp: “Track Foursquare Check-Ins!” • Traditionalist camp: “No, Track Foot Traffic!” • McDonald’s CEO • “You’re Both Wrong!” • “Track Incremental Revenue from Campaign!”
    • Mapping: Categories to Models & Metrics © Stephan Sorger 2013 www.StephanSorger.com; Marketing Analytics: Introduction 1.5 Topic Model Metric Products/Services Conjoint analysis Product revenue Decision tree Market adoption Portfolio allocation Cost of goods sold Distribution Gravity model All commodity volume Retail location Product category volume Promotion Budget estimation Traditional: Reach, CPM Budget allocation Social: Topic intensity
    • Marketing Feedback System © Stephan Sorger 2013 www.StephanSorger.com; Marketing Analytics: Introduction 1.5 Marketing Mix Business Operations Strategy Strategic Metrics Results
    • Solution: The Marketing Analytics Framework © Stephan Sorger 2013 www.StephanSorger.com; Marketing Analytics: Introduction 1.5 Strategic Tactical Market Analysis Chapters 1-3 Competitive Analysis Chapter 4 Strategy and Operations Chapters 5-6 Marketing Mix The 4 Ps Chapters 7-10 Sales and Support Chapter 11 Analytics in Action Chapter 12
    • Solution: The Marketing Analytics Framework © Stephan Sorger 2013 www.StephanSorger.com; Marketing Analytics: Introduction 1.5 Market Analysis Chapters 1-3 Competitive Analysis Chapter 4 Strategy and Operations Chapters 5-6 Marketing Mix The 4 Ps Chapters 7-10 Sales and Support Chapter 11 Analytics in Action Chapter 12 Market Analysis: • Market Definition • Market Sizing (Top down; Bottom up) • Market Analysis (PESTLE; Porter) • Segmentation • Targeting • Positioning
    • Solution: The Marketing Analytics Framework © Stephan Sorger 2013 www.StephanSorger.com; Marketing Analytics: Introduction 1.5 Market Analysis Chapters 1-3 Strategy and Operations Chapters 5-6 Marketing Mix The 4 Ps Chapters 7-10 Sales and Support Chapter 11 Analytics in Action Chapter 12 Competitive Analysis: • Competitive Intelligence (Info) • Analysis Tools: Alexa, Compete, etc. • Competitor Identification • SWOT • Defensive Actions (Competitive Attack) • Offensive Actions (Market Opportunities) Competitive Analysis Chapter 4
    • Solution: The Marketing Analytics Framework © Stephan Sorger 2013 www.StephanSorger.com; Marketing Analytics: Introduction 1.5 Market Analysis Chapters 1-3 Marketing Mix The 4 Ps Chapters 7-10 Sales and Support Chapter 11 Analytics in Action Chapter 12 Strategy and Operations: • Growth through New Products • Growth through New Markets • Brand: Brand Equity Index (BEI) • Customer Lifetime Value • Product/Service Development Metrics • Forecasting; Predictive Analytics; Data Mining Competitive Analysis Chapter 4 Strategy and Operations Chapters 5-6
    • Solution: The Marketing Analytics Framework © Stephan Sorger 2013 www.StephanSorger.com; Marketing Analytics: Introduction 1.5 Market Analysis Chapters 1-3 Sales and Support Chapter 11 Analytics in Action Chapter 12 Marketing Mix: 4Ps • Product: Conjoint analysis • Product: Decision tree analysis • Pricing: Techniques and assessment • Place/Distribution: Location; Multi-Channel • Promotion: Budget estimation and allocation • Promotion: Social media measurement Competitive Analysis Chapter 4 Strategy and Operations Chapters 5-6 Marketing Mix The 4 Ps Chapters 7-10
    • Solution: The Marketing Analytics Framework © Stephan Sorger 2013 www.StephanSorger.com; Marketing Analytics: Introduction 1.5 Market Analysis Chapters 1-3 Analytics in Action Chapter 12 Sales and Support Analytics: • Ecommerce sales model • Sales and profitability metrics • Profitability through channels • Customer tiering • Customer satisfaction • Net Promoter Score (NPS) Competitive Analysis Chapter 4 Strategy and Operations Chapters 5-6 Marketing Mix The 4 Ps Chapters 7-10 Sales and Support Chapter 11
    • Solution: The Marketing Analytics Framework © Stephan Sorger 2013 www.StephanSorger.com; Marketing Analytics: Introduction 1.5 Market Analysis Chapters 1-3 Analytics in Action: • How to Get Started • Rapid Decision Models • Excel Excellence • Data-driven Presentations Competitive Analysis Chapter 4 Strategy and Operations Chapters 5-6 Marketing Mix The 4 Ps Chapters 7-10 Sales and Support Chapter 11 Analytics in Action Chapter 12
    • Marketing Analytics: 3 Things to Do Today © Stephan Sorger 2013 www.StephanSorger.com; Marketing Analytics: Introduction 1.5 Pareto Analysis: Identify 20% of efforts responsible for 80% of results Cross-Sales Analysis: Determine product/service upsell opportunities Metrics Alignment: Express yourself with metrics that matter
    • Pareto Analysis © Stephan Sorger 2013 www.StephanSorger.com; Marketing Analytics: Introduction 1.5 Step #1: Collect the Data
    • Pareto Analysis © Stephan Sorger 2013 www.StephanSorger.com; Marketing Analytics: Introduction 1.5 Step #2: Sort the Data (by Dependent Variable)
    • Pareto Analysis © Stephan Sorger 2013 www.StephanSorger.com; Marketing Analytics: Introduction 1.5 Step #3: Interpret the Data Sales for top 2 customers: 80% of all sales!
    • Cross-Sales Analysis © Stephan Sorger 2013 www.StephanSorger.com; Marketing Analytics: Introduction 1.5 Product A Service C Product B
    • © Stephan Sorger 2013 www.StephanSorger.com; Marketing Analytics: Introduction 1.5 Step #1: Collect the Data Cross-Sales Analysis
    • © Stephan Sorger 2013 www.StephanSorger.com; Marketing Analytics: Introduction 1.5 Step #2: Sort the Data (by Dependent Variable) Cross-Sales Analysis
    • © Stephan Sorger 2013 www.StephanSorger.com; Marketing Analytics: Introduction 1.5 Step #3: Interpret the Data Cross-Sales Analysis Top 3 Insights: 1. 50% of all Product B sales come from cross-sales with A 2. Service C only sells when customers purchase A and B 3. Top customers regard B and C as essential related products
    • © Stephan Sorger 2013 www.StephanSorger.com; Marketing Analytics: Introduction 1.5 Meet with your CEO/ CFO/ GM; Find out what metrics they track Metrics Alignment Brand Awareness Facebook Likes Email Open Rate Product Manager Revenue Profit ROMI CXO/ GM
    • Marketing Analytics: 3 Things Not to Do © Stephan Sorger 2013 www.StephanSorger.com; Marketing Analytics: Introduction 1.5 Branding: Don’t sink money into branding efforts without measuring results  Instead, measure Brand Equity Index Bug List: Don’t rely exclusively on “bug lists” to identify improvements to product  Instead, do market analysis Bad Communications: Don’t fail to connect to audience needs Executive audience: Revenue and Profit!  See “Before” and “After” slides
    • Communications with Marketing Analytics: BEFORE © Stephan Sorger 2013 www.StephanSorger.com; Marketing Analytics: Introduction 1.5 Engineering Department Status • Engineering resources are very low; definitely need more engineers • Some engineers working many hours per week • Engineers risk getting burned out from working so many hours • New projects coming up will require more resources than we have • Engineering resource types • Engineering resource type A: have 10 engineers; need at least 12 • Engineering resource type B: have 3 engineers; need at least 4 • Engineering resource type C: have 5 engineers; need at least 6 • Engineering resource type D: have 15 engineers; need at least 20 • Possible slips to schedule can occur unless we hire more engineers • Recommend hiring at least 2 additional engineers in next month • Many engineers complaining to their management about workload
    • Communications with Marketing Analytics: AFTER © Stephan Sorger 2013 www.StephanSorger.com; Marketing Analytics: Introduction 1.5 Department Revenue and Resources Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Projected Revenue Revenue to Date Current Resource Level Will Stop Producing Incremental Revenue Here Professional Services Organization Department Status
    • Next Steps © Stephan Sorger 2013 www.StephanSorger.com; Marketing Analytics: Introduction 1.5 • Win 1 of 3 free copies of the book • Execute Pareto, Cross-Sales, and Alignment • Identify relevant models and metrics • Attend other analytics-related AIPMM events
    • About Our Speaker The “Analytics Ambassador” Author “Marketing Analytics: Strategic Models and Metrics” (2013) Professional Expertise VP Strategic Marketing, On Demand Advisors • Applying marketing analytics to grow revenue Academic Expertise Instructor at UC Berkeley, San Francisco Extension • Teaching Marketing Analytics since 2008 Board Member Served on UC Berkeley Ext. Marketing Metrics Board Website: http://www.stephansorger.com LinkedIn: http://www.linkedin.com/in/stephansorger © Stephan Sorger 2013 www.StephanSorger.com; Marketing Analytics: Introduction 1.7
    • © AIPMM 2013 www.aipmm.com Q & A Moderator: Hector Del Castillo, Product Innovation Consultant Presenter: Stephan Sorger Website: http://www.stephansorger.com LinkedIn: http://www.linkedin.com/in/stephansorger Twitter: @StephanSorger
    • © AIPMM 2013 www.aipmm.com Upcoming Courses Course & Location Dates Days Time ACPM® Certification Prep Course & Exam Teqcorner, McLean, VA Seattle, WA July 22, 2013 Aug 26, 2013 M 8:30 am – 5 pm CPM® Certification Prep Course & Exam Teqcorner, McLean, VA Seattle, WA July 23-24, 2013 Aug 27-28, 2013 T, W 8:30 am – 5 pm CPMM® Certification Prep Course & Exam Teqcorner, McLean, VA Seattle, WA July 25-26, 2013 Aug 29-30, 2013 Th, F 8:30 am – 5 pm Contact Cynthia Petti, cynthia@280group.com for more information. Additional certification prep courses are available in Austin, San Jose, and London.
    • © AIPMM 2013 www.aipmm.com Upcoming Courses Course & Location Dates Time CIL® Certification Prep Course & Exam Athens, Greece Oct 10-11, 2013 9 am – 6 pm CPM® Certification Prep Course & Exam Athens, Greece Singapore Oct 8-9, 2013 Oct, 2013 9 am – 6 pm 8 am – 5 pm CPMM® Certification Prep Course & Exam Athens, Greece Singapore Oct 14-15, 2013 Oct, 2013 9 am – 6 pm 8 am – 5 pm Follow the links provided to get more information regarding these courses.
    • © AIPMM 2013 www.aipmm.com For More Information About • AIPMM membership benefits • Certification courses near you • How to prepare to take a certification exam Hector Del Castillo, CPM, CPMM Senior Product Innovation Consultant hmdelcastillo@aipmm.com linkd.in/hdelcastillo
    • © AIPMM 2013 www.aipmm.com Please Join Us Again! AIPMM Webinar Series: Parlez-vous Product? Tips For Managing And Marketing Global Products, Friday, Jul 19th, 12 pm ET http://aipmm.com/aipmm_webinars/ Global Product Management Talk: http://www.blogtalkradio.com/prodmgmttalk Stay Informed! Newsletter: http://www.aipmm.com/subscribe LinkedIn: http://www.linkedin.com/company/aipmm Membership: http://www.aipmm.com/join.php Certification: http://aipmm.com/html/certification/