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Maximize The Marketing Mix And Achieve Roi

Maximize The Marketing Mix And Achieve Roi



Presented at the UT System Seminar, Austin Texas, Feb. 22, 2010

Presented at the UT System Seminar, Austin Texas, Feb. 22, 2010



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    Maximize The Marketing Mix And Achieve Roi Maximize The Marketing Mix And Achieve Roi Presentation Transcript

    • • The four P’s of the “marketing mix” – Product: Meets a specific consumer demand – Price: Cost you set for your product – Place(ment): Distribution channel(s) – Promotion: Vehicle(s) employed to tout a product
    • • Marketing success requires – New customers/markets/growth – Enhanced audience definition/data – Greater accountability for marketers (ROI)
    • • What does Left Brain Marketing have to do with integration? – Marketing Integration Requires Advance Planning – Plans Are More Complex – Requires ROI Analysis to Measure Effectiveness – Analysis Requires a Left Brain Approach – Supported by Right Brain Creativity
    • • The right brain – Imagination – Color – Daydreaming – Rhythm • The left brain – Numbers – Analysis – Logic – Lists
    • • Forrester Research describes Left Brain Marketing this way… – Applied Science Eclipses Creativity – Repeatable Processes Replace Ad Hoc Programs – Precise Analysis Replaces Fuzzy Measurement – Statistical Models Replace Focus Groups Source: Shar VanBoskirk, VP/Principal Analyst, Forrester Research
    • • Test your Right/Left Brain thinking
    • In a new era of Left Brain Marketing, analytical strategies grounded in deep audience knowledge will rise to predominance. Eric Schmitt, Forrester Research April 2004
    • • What is integrated marketing? – Holistic, synergistic approach – Data-driven audience segmentation – Cohesion across channels – Analytical toolkit for ROI measurement
    • • What makes a holistic approach? – Weave together complementary disciplines – View the full landscape of options – Use only best-fit solutions – Optimize for maximum results – Measure and report
    • • What disciplines are needed for integration? – Advertising/Promotion – Communications/PR – Web/SEO/Social Media – WOM and one more…
    • • Strategic planning: an old discipline for a new era – Combines synergistic marketing – Aims to achieve business goals – Optimizes approach to minimize investment – Achieves maximum results (ROI)
    • • Effective integration/ROI requires: – 30,000 foot view – Channel-blind decision making – Well-defined segmentation – Sets quantifiable goals – Requires a measurable approach – Reports ROI to: • Measure success • Inform future plans
    • • Sensitizing higher education stakeholders to ROI – Encourage their participation in measurement activities – Present written results reports to stakeholders to spotlight ROI – Refer back to ROI reports in future plans to connect the dots – Share with fellow marketers to educate them, too
    • • Integrating marketing tactics to maximize ROI – Communications versus conversion – Shift to direct marketing focus – Shotgun versus precision – Spend versus invest
    • • Marketer’s ROI Toolkit – A well-defined set of Key Performance Indicators (KPIs) – An easy-to-read/understand reporting template – An e-mail tool with built-in reporting – A marketer-friendly web analytics tool – Several measurement tools for social media: • Facebook Insights • Klout and others for Twitter
    • • Key Performance Indicators KPIs Secret Shoppers/ Get Information Brand Aware (leads) Give Information Inquiry Pool (qualified leads) Applicants Apply/Track (prospects) Customers Enroll (students) (yield)
    • • Key Performance Indicators – Translate to core metrics set • Audience Engagement = number of downloads among key sales tools • Leads = number of unique visitors who haven’t inquired yet • Prospects = number of visitors who have completed the inquiry form • Applicants = number of completed applications
    • • The Left Brain Emerges: A Case Study Special Destiny Campaign Web Site
    • • The Left Brain Emerges: A Case Study – Challenges • Plan, write, design and launch web site in 45 days • Driving traffic/integration – ROI • Advancement tallied online gifts made • Marketing tracked page views traffic to dedicated web address • $70+ million raised; exceeded campaign goal
    • • Advanced Print/Web Integration: A Case Study Undergraduate Admission Recruiting
    • • Advanced Print/Web Integration: A Case Study – Challenges • Multiple audience segments • Core messages, plus tailored messages • Multiple channels (print, web, direct mail, search, e-mail, etc.) – ROI • E-mail metrics (CTR and open rates) • Web metrics (unique visitors, funnel CTRs) • Student quality has increased • Enrollment goals have been exceeded
    • • The Integration of Web-Based Incentive: A Case Study Adult Recruiting Campaign
    • Appointment Prep 101 “White Paper” ranked most popular out of 5 engagement tools Appointment Prep 101 Overall traffic to site lifted postcard dropped in from 23,000 to 33,000 Jan. 2008
    • • New Left Brain Tactics – Search Engine Marketing (SEM) – Search Engine Optimization (SEO) – Social Media Marketing (SMM)
    • Search engines are inherently left brain tools. Left brain thinking processes are analytical, logical, fact-based, quantitative. Chris Sherman, Search Engine Watch
    • • Integrating SEO: The Alt Tag/Attribute Is Your Friend – Not just for accessibility any more – Tag every photo and graphic – Avoid being too literal – Needs proper keywords
    • • Integrating SEO: Writing Google Food – Research keywords first – Write content to include keywords – Metadata: The honey to Google’s bee – Use to influence writing
    • • Integrating SEM Requires – Deep understanding of search engines – Use data as insight into consumer behavior – Ability to track lots and lots of data; very analytical – Willingness to be a bit adventurous – Provides a new set of metrics for ROI
    • • Integration of SMM: The New WOM – Where will you dip your toes? – Why? – Are policies in place? – How much time can you devote? – How and what will you measure?
    • Learn to ignore the old rules.
    • • Integration of SMM: The New WOM – Blogs and Microblogs
    • • Integration of SMM: The New WOM – Photo/Video Sharing Sites
    • • Preparing the way for marketing integration and ROI – Marketing Operations – Marketing Staffing – Marketing Culture
    • • Marketing Operations – Escape “order-taking mode” – Return to the SWOT analysis – Formalize the planning process – Make it your own Source: Excelsia Consulting Resources
    • • Marketing Staffing – Need agility to become integrated – Multi-channel skill sets/vendor partners – Shift from “marcomm” to ROI-driven
    • • Marketing Culture – It’s a process – Gradual exposure of team to metrics and performance measurement – In-selling of university stakeholders – Cultivation of a new direct-marketing style of writing and design
    • Any questions?
    • Thank You. Carmella Manges E-marketing Director St. Edward’s University carmellm@stedwards.edu www.twitter.com/LuvROI