IDM B2B conference: Marketing Metrics: Alastair Douglas

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Slides from the presentation that I gave at the IDM B2B conference on 18th May 2011 at the Commonwealth Club. http://www.theidm.com/marketing-events/b2b-conference/

Slides from the presentation that I gave at the IDM B2B conference on 18th May 2011 at the Commonwealth Club. http://www.theidm.com/marketing-events/b2b-conference/

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Transcript

  • 1. The 8th IDM B2B MarketingConference: Understanding and Engaging Customer 2.0 Marketing metrics: How measurement can increase accountability and acquisition Alastair Douglas Head of Marketing & Analysis
  • 2. Simply Business is the UK’s largest online business insurance broker Over 170,000 businesses are currently insured with us
  • 3. We acquire all our customers online through our website
  • 4. We acquire all our customers online through our website
  • 5. Segmentation as a customer understanding & targeting tool c. 1,000 20 customer classifications of segments business Key target 170,000 customers segments
  • 6. Use data to begin understanding: then layer in qualitative feedback
  • 7. Net promoter score verbatims I have never had any problems and (the process) has always been straight forward and no hassle I have regularly recommended you. I purchased it on the internet. I found that the prices were very competitive.The cover was about the same throughout I got no feedback from you.You didnt provide any special offers. You took the money for the year and then you just stayed quiet. I didnt even realise my policy had lapsed
  • 8. Paid search: The data and measurement arms race Revenue Sales Actions Engaged visitors Visits Clicks Impressions
  • 9. Why optimising for cost/quote and not revenue can be problematic Ad Group CTR Click to quote Quote to sale Cost/quote ROI Brand 21% 13% 61% £3.54 £12.06 Cleaners 18% 37% 16% £6.85 £0.65 Health & Beauty 8% 31% 7% £10.40 £0.17 Education 3% 25% 11% £11.12 £0.19 Entertainment 9% 21% 14% £11.52 £0.26 Professionals 7% 32% 18% £17.77 £0.73 Recruitment 1% 25% 0% £21.45 £0.00 Tradesmen 7% 30% 24% £22.13 £0.78 Public liability 11% 35% 20% £24.22 £0.56 Generic insurance 6% 26% 19% £25.20 £0.78 Construction 6% 24% 15% £28.32 £0.90 Contractors 6% 35% 38% £29.11 £0.98 Advertising/Design 2% 18% 33% £29.76 £0.68
  • 10. Why optimising for cost/quote and not revenue can be problematic Ad Group CTR Click to quote Quote to sale Cost/quote ROI Brand 21% 13% 61% £3.54 £12.06 Cleaners 18% 37% 16% £6.85 £0.65 Health & Beauty 8% 31% 7% £10.40 £0.17 Education 3% 25% 11% £11.12 £0.19 Entertainment 9% 21% 14% £11.52 £0.26 Professionals 7% 32% 18% £17.77 £0.73 Recruitment 1% 25% 0% £21.45 £0.00 Tradesmen 7% 30% 24% £22.13 £0.78 Public liability 11% 35% 20% £24.22 £0.56 Generic insurance 6% 26% 19% £25.20 £0.78 Construction 6% 24% 15% £28.32 £0.90 Contractors 6% 35% 38% £29.11 £0.98 Advertising/Design 2% 18% 33% £29.76 £0.68
  • 11. Why optimising for cost/quote and not revenue can be problematic Ad Group CTR Click to quote Quote to sale Cost/quote ROI Brand 21% 13% 61% £3.54 £12.06 Cleaners 18% 37% 16% £6.85 £0.65 Health & Beauty 8% 31% 7% £10.40 £0.17 Education 3% 25% 11% £11.12 £0.19 Entertainment 9% 21% 14% £11.52 £0.26 Professionals 7% 32% 18% £17.77 £0.73 Recruitment 1% 25% 0% £21.45 £0.00 Tradesmen 7% 30% 24% £22.13 £0.78 Public liability 11% 35% 20% £24.22 £0.56 Generic insurance 6% 26% 19% £25.20 £0.78 Construction 6% 24% 15% £28.32 £0.90 Contractors 6% 35% 38% £29.11 £0.98 Advertising/Design 2% 18% 33% £29.76 £0.68
  • 12. Measure to a higher level of granularity than your competitors One bad creative or keyword can ruin the whole ad group or campaign CTR 14.4% CTR 5.3% CTR 9.8%
  • 13. Measure to a higher level of granularity than your competitors One bad creative or keyword can ruin the whole ad group or campaign CTR 14.4% CTR 5.3% CTR 9.8%
  • 14. Social media: Start by building an audience • Content of interest to start-ups and small businesses who use Twitter • Don’t try to sell too much • Try different things • Monitor what works and what doesn’t work using free tools such as Klout, Topsy and Tweetdeck • Metrics: True reach, number of total shares, amount of inbound traffic
  • 15. Incorporate engagement on Twitter into your customer services team • Tools like Radian 6 can make this process more efficient and thorough • This is a core function and should be kept in house
  • 16. Be open and engage with customer feedback authentically • Amplify customer testimonials
  • 17. Customer service - more transparent and more efficient • Engage with feedback - good or bad
  • 18. Social media key points • Be very specific about what you want to achieve - we have had success with engagement and customer service but not with acquisition • It is a very powerful tool for advocacy • Set metrics - but understand that social measures of influence are just that. • Use channels such as Get Satisfaction and Twitter to reduce your cost of customer service and understand your customers better
  • 19. Affiliate marketing - you can control your own cost per acquisition
  • 20. Use affiliate platforms as a way of testing your most effective message
  • 21. Use affiliate platforms as a way of testing your most effective message 15% more quotes
  • 22. User testing: A platform for new ideas to solve customer problems
  • 23. Actions from a user testing day
  • 24. Prioritised actions
  • 25. Summary • Your database is full of insight about your customers and can be used to help you understand them better • You can use data and measurement to gain a competitive advantage • Choose your measures carefully in social media - but be rigorous • Make sure you have a creative and testing platform: if you can’t test new ideas then the measurements will not be actionable
  • 26. Questions? • Simply Business on Twitter: @simplybusiness • Get involved in the Simply Business community: www.simplybusiness.co.uk/social • I am @alastairdouglas on Twitter