Engage and convert - The New Rules for Success in Digital Advertising final
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Hear Ray Coppinger, Senior Digital Marketing Manager at Marketo, and Adam Levinson, Customer Success Manager at Optimizely, as they explore the state of digital advertising, identify the building blocks of a successful strategy, and outline how a culture of optimisation is critical to digital advertising success.
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Engage and convert - The New Rules for Success in Digital Advertising final
- 1. Engage and Convert: The New Rules for Success in Digital Advertising Ray Coppinger Senior Marketing Manager EMEA, Marketo @raycop @marketo
- 2. Page 2© 2015 Marketo, Inc. Marketo Proprietary and Confidential Marketo Company Overview 3,500 customers across 20+ industries in 36 countries #1 independent marketing platform: • Marketing software - built for marketers, by marketers • Fastest growing marketing technology company • Largest partner solution ecosystem Top rated by Analysts including Sirius Decisions, Gartner, and Forrester Marketing First • Helping marketers master the art and science of digital marketing • Unparalleled expertise
- 3. Introduction
- 4. Page 4© 2015 Marketo, Inc. Marketo Proprietary and Confidential
- 5. Page 5© 2015 Marketo, Inc. Marketo Proprietary and Confidential
- 6. Page 6© 2015 Marketo, Inc. Marketo Proprietary and Confidential The Typical Digital Buyers Day Source: Media Dynamics, America's Media Usage & Ad Exposure: 1945-2014 5000+(Brand Exposures & Ads) 362 (Are Ads) 12 (Are Remembered)
- 7. Page 7© 2015 Marketo, Inc. Marketo Proprietary and Confidential Meet Today’s Digital Buyer • Tech savvy. • Knowledgeable about marketing/ brands/advertising. • Need to be informed, entertained or helped. Never bored or annoyed. • Fickle—once you stop informing, entertaining or helping them – they leave immediately.
- 8. Page 8© 2015 Marketo, Inc. Marketo Proprietary and Confidential Digital Advertising has a bad name! Source:
- 9. Page 9© 2015 Marketo, Inc. Marketo Proprietary and Confidential Digital Advertising Defined Digital Advertising is any use of the internet to deliver promotional content to consumers on various channels. Digital Advertising allows marketers to: • To tell brand stories at scale and in context • Across multiple devices and channels • Reach larger audiences, in real-time and in a 1:1 personalised way
- 10. The History of Digital Advertising Source: Eric Picard, http://www.slideshare.net/ericpicard/the-critical-trends-in-online-advertising-mima-summit-2014
- 11. Success – Starts with your Strategy
- 12. Page 12© 2015 Marketo, Inc. Marketo Proprietary and Confidential In Digital Advertising… …Strategy is Critical
- 13. Page 13© 2015 Marketo, Inc. Marketo Proprietary and Confidential Step 1: Analyse the Market 1. Who is most likely to purchase your product? 2. How much of that market is interested in your product? 3. Are their other companies selling similar products? 4. What do your competitor’s advertising strategies look like?
- 14. Page 14© 2015 Marketo, Inc. Marketo Proprietary and Confidential Step 2: What are you already doing? Your Digital Advertising What? Who?How? What are you currently doing for digital advertising? How is it performing? How are you measuring success? Who is running your digital ad strategy? And is your digital ad strategy aligned? In-house? Agency? PPC? Display? Baseline? KPIs
- 15. Page 15© 2015 Marketo, Inc. Marketo Proprietary and Confidential Step 3: What are your Advertising Goals? Customer Acquisition Customer Nurturing Branding Customer Loyalty, Cross-Sell, Upsell All of the above
- 16. Page 16© 2015 Marketo, Inc. Marketo Proprietary and Confidential Step 4: Audience Development and Personas Background? Main Sources of Information? Main Online Channel Preference? Pain Points? Preferred Content Medium?
- 17. Page 17© 2015 Marketo, Inc. Marketo Proprietary and Confidential Step 5: Build Your Team • With limited resources, you should focus on fulfilling the following roles: • Creative Services • Paid Search • With a larger team, it’s a good idea to make sure that the following responsibilities are covered: • Data Analysis • Social Media Advertising • Video Production
- 18. Page 18© 2015 Marketo, Inc. Marketo Proprietary and Confidential Step 5: Build Your Team (contd.) Some teams may need to outsource some of its responsibilities to an outside agency. Some important things to consider are as follow: • Industry expertise • Shared vision • Similar background • Proven Track Record
- 19. Picking Your Digital Advertising Channels
- 20. Page 20© 2015 Marketo, Inc. Marketo Proprietary and Confidential Lots of Digital Advertising Options SEARCH DISPLAY SOCIAL MOBILE Types of PPC Ads: 1. Traditional Text Ads 2. Text Display Ads Types of Display Ads: 1. Static 2. Video 3. Cinemagraphic 4. Flash 5. Pop-Up LinkedIn • Sponsored Updates • Display • Lead Accelerator Facebook • Promoted Posts • Dark Posts Twitter • Promoted Tweets/Accounts/Tren ds • Website/Lead Gen Cards YouTube • In-Search/In-Display • In-Stream Instagram • Single/Multi-Carousel Ads In-Browser • Text Ads • Static Banner Ads • Video Ads • Cinemagraphic Ads • Pop-up Ads • Social Ads In-App • Push notification • In-App Messaging • Image Ads • Text Ads • Video Ads • SMS and MMS Messaging
- 21. Page 21© 2015 Marketo, Inc. Marketo Proprietary and Confidential Search (PPC) Advertising PPC ads are flexible, contextual, extremely visible, and most of all, effective for many different types of organisations. 1. Focus on quality score 2. Choose your keywords wisely 3. Watch your budget closely 4. Don’t fear the competition 5. Make sure you can measure 6. Integrate with Marketing Automation 7. Test, test, test, repeat
- 22. Page 22© 2015 Marketo, Inc. Marketo Proprietary and Confidential Display Advertising Display ads offer great diversity. You can use a range of media to get your message across to your audience. And you can target your audience across multiple devices and channels. 1. Be clear on your objective(s) 2. Make sure you can measure 3. Be as targeted as possible 4. Follow design best practices & design for the platform/channel.
- 23. Page 23© 2015 Marketo, Inc. Marketo Proprietary and Confidential Social Advertising By advertising on social channels in an engaging and relevant way, you can reach new audiences or continue to nurture your buyers cross-channel. 1. Don’t take yourself too seriously 2. Focus on valuable content and solid offers 3. Utilize platform targeting for the biggest impact 4. Always add value 5. Always test your ads and content on each platform
- 24. Page 24© 2015 Marketo, Inc. Marketo Proprietary and Confidential Mobile Advertising Mobile advertising is growing quicker than any other ad space. The human population is 7.1 billion and there are 7.7 billion mobile devices. 1. Adaptive/Responsive Design 2. Make sure you can measure 3. Be as targeted as possible 4. Integrate with Marketing automation.
- 26. Page 26© 2015 Marketo, Inc. Marketo Proprietary and Confidential You can’t advertise in a vacuum…
- 27. Page 27© 2015 Marketo, Inc. Marketo Proprietary and Confidential Marketers need to think Cross-Channel • Listen: Pay close attention to buyer behavior across all channels to create a single, integrated view of the buyer persona. • Act: Manage, personalise, and act on conversations with buyers across channels.
- 28. Page 28© 2015 Marketo, Inc. Marketo Proprietary and Confidential Cross-Channel Acquisition Example In this example from Marketo, digital advertising supports a campaign to acquire new potential buyers through the launch of our Definitive Guide to Mobile Marketing.
- 29. Page 29© 2015 Marketo, Inc. Marketo Proprietary and Confidential Channel 1: Twitter
- 30. Page 30© 2015 Marketo, Inc. Marketo Proprietary and Confidential Channel 2: LinkedIn
- 31. Page 31© 2015 Marketo, Inc. Marketo Proprietary and Confidential Channel 3: Facebook
- 32. Page 32© 2015 Marketo, Inc. Marketo Proprietary and Confidential Channel 4: PPC
- 33. Page 33© 2015 Marketo, Inc. Marketo Proprietary and Confidential Channel 5: Email
- 34. Page 34© 2015 Marketo, Inc. Marketo Proprietary and Confidential Channel 6: Website
- 35. Page 35© 2015 Marketo, Inc. Marketo Proprietary and Confidential Incorporate Digital Advertising in your mix Channel Goal Ad Types Messages Supporting Channels Budget Events Brand Awareness N/A e.g. “Marketing First” e.g. Email, Social e.g. £100K Website Upsell/Cross- Sell & New Name Acquisition Homepage Takeovers Take Your Mobile Marketing To The Next Level Email, Retargeting N/A LinkedIn New Name Acquisition Sponsored Updates Mobile Marketing in Your Marketing Mix LinkedIn Display, Retargeting e.g. £50K Events In-App Display PPC
- 36. Page 36© 2015 Marketo, Inc. Marketo Proprietary and Confidential Digital Advertising Planning
- 37. Page 37© 2015 Marketo, Inc. Marketo Proprietary and Confidential Digital Advertising for Lead Nurturing As a marketer, you need to think across channels in your lead nurturing. Geo Location Vertical Local Events Case Studies Competitor Customer Demos Company Size eBooks
- 39. Page 39© 2015 Marketo, Inc. Marketo Proprietary and Confidential The Future of Marketing Metrics? Efficiency Effectiveness Brand Awareness Cost Metrics (Efficiency) Overall Engagement Top-Line Revenue In marketing measurement, effectiveness metrics trump efficiency metrics
- 40. Page 40© 2015 Marketo, Inc. Marketo Proprietary and Confidential Source: Marketo Revenue Cycle Analytics, Apr 2014 * Percentage of all programs in channel that achieve MT Ratio > 5
- 41. Page 41© 2015 Marketo, Inc. Marketo Proprietary and Confidential Common Digital Advertising Metrics Front-End Metrics Back-End Metrics Impressions Cost Per Lead Reach ROI Clicks ROAS Click Through Rate LCV (Lifetime Value of a Customer) Engagement Rate Conversions Effective CPM
- 42. Page 42© 2015 Marketo, Inc. Marketo Proprietary and Confidential Choose how to Attribute 1. First-Touch Attribution 2. Last Touch Attribution 3. Multi-Touch Attribution 4. Time Decay Attribution 5. Position Based Attribution 6. Last Non-Direct Click Attribution 7. Last Adwords Click Attribution
- 43. Page 43© 2015 Marketo, Inc. Marketo Proprietary and Confidential How we do it at Marketo? 1. Count all the successful touches 2. Assign value to the final action 3. Distribute that value across your successful touches
- 45. Optimizing Ad and Email Campaigns July 22nd, 2015
- 46. Introductions Adam Levinson Customer Success Manager adam@optimizely.com
- 47. A/B Testing
- 48. What is it? A/B testing is a way to test changes to your page against the current design and determine which one produces positive results
- 49. How does that help me?
- 52. The Test
- 54. ç
- 55. The Test
- 56. The Results
- 57. More Examples
- 58. Secret Escapes
- 59. Original
- 60. The Variations
- 61. Case Study: Obama Contribute Form
- 62. Visited Signed Up Donated 0.0% +2.3 % - 27.8% +15.2 % +8.5 % 0.0% +27.8 % N/A - 24.6% +2.9 % 0.0% +16.3 % N/A +11.9 % +18.4 %
- 63. Sony
- 64. Build it in 5 minutes
Editor's Notes
- marketi7 years of 60%+ YoY growth Stand alone, open, every dollar invested in marketing ‘Other guys will be trying to figure out the bag of doorknobs’ Innovating on an integrated platform
- Before you set out on your advertising journey, take a close look at your current market. In this step it’s also important to consider the current economic climate, and understand its impact on your business—not all businesses or products are recession-proof. Make sure to investigate the history and the major trends in the market that surround your product or service, as well as the correlating risks and opportunities. Finally, do a full review of what the future predictions are for your product or service in the marketplace. Depending on the state of the market, you could choose to go in a completely different direction with your ad strategy—or even nix advertising of the product or service altogether until conditions improve.
- 1. What are you currently doing for digital advertising? This question helps you define your baseline. Some companies may already be conducting a large variety of digital ad activities, while others may not have many ad activities (yet). 2. Who is running your digital advertising strategy? And is your digital ad strategy aligned? Are you running your advertising out of many functions independently—such as social, demand gen, and web? Are they talking to one another? It is critical to understand your own organizational structure. 3. If you are doing digital ads today, how are they performing? Now is the time to set your initial baseline so you know how your ads are performing currently so you can see improvement over time. How are you measuring success? What areas need improvement?
- Goal 1: Customer Acquisition Regardless of the type of organization—B2B or B2C—a great measurement of success is customer acquisition, or an increase in potential customers. You can easily track conversion success with your ads through various types of measurements. Let’s look at an example of customer acquisition in a B2B company, such as a SaaS software company. For that organization, an ad is deemed successful if it helps the brand to acquire new leads. Whereas B2C companies view their ads as effective if they drive consumers to purchase or sign up for their product or service, such as clothing or television cable service. Goal 2: Customer Nurturing Not everyone who sees your ad will immediately purchase your product, and that’s why you need to nurture your customers throughout their buying journey. And digital advertising is a fantastic way to do this. Goal 4: Customer Loyalty, Cross-Sell, and Upsell Your nurturing shouldn’t stop once someone becomes a customer. You can use nurturing in digital advertising to maintain relationships and create loyalty with someone who has already become a customer. Using the same technologies mentioned previously, you can nurture current customers based on their behaviors to increase their likelihood to make a repeat purchase. You can also work to increase customer loyalty over time. Don’t forget that even with digital advertising, you must think about the entire lifecycle of a customer—from acquisition, to purchase, to advocacy. Goal 3: Branding Your brand is what makes you unique. Your brand is often comprised of product differentiators, messaging, and a distinct look and feel. Because digital ads are ubiquitous across the web, they can make or break your brand identity.
- Background: Basic details about your ideal customer—her likes, dislikes and demographic attributes. Main Sources of Information: Where does your customer like to go to research buying decisions? Which websites? Main Online Channel Preference: What channels does your customer spend her time on? Does she like news sites? Is she often on social channels? Pain Points: What are your customer’s major pain points? Preferred Content Medium: How does your customer like to consume content? Does she like to read it? Does she prefer to watch a video?
- Background: Basic details about your ideal customer—her likes, dislikes and demographic attributes. Main Sources of Information: Where does your customer like to go to research buying decisions? Which websites? Main Online Channel Preference: What channels does your customer spend her time on? Does she like news sites? Is she often on social channels? Pain Points: What are your customer’s major pain points? Preferred Content Medium: How does your customer like to consume content? Does she like to read it? Does she prefer to watch a video?
- Industry expertise: It goes without saying that your agency should have talented staff with background in digital and traditional advertising. Assess the various strengths and weaknesses of each agency, and determine where your needs are met, and where they’re not. Shared vision: To ensure that your team and the agency are on the same page, it’s important for the agency to understand your company’s brand and messaging, and how these translate into the digital atmosphere. Only after the agency truly grasps your company’s brand will it be able to deliver ads that hit the mark every time without a need for revision. Similar background: It’s a good idea for the agency to have worked with similar companies so that they already have a background in your industry. This helps you and the agency hit the ground running much faster. Proven Track Record: Not only request and check references, but also request that agencies provide you with case studies of successful work they have completed for other companies. It’s a good idea to review previous work as a way to gauge how well they will perform for you.
- When you think about your ad strategy, it is critical to think about it in a holistic, cross-channel way. You can’t advertise in a vacuum—so make sure that your digital advertising campaigns are integrated with your larger marketing plan.
- “Effectiveness trumps efficiency, especially in a time of rapid change. Metrics will become broader and more comprehensive, focusing on top-line revenue and overall engagement more than efficiency and brand awareness.” “If you don’t accept accountability for being measured in terms of your contributions and outputs, then you are viewed as a cost centre” John Dragoon, EVP and CMO, Houghton Mifflin Harcourt
- Here we see what works for Marketo (over the last 12) 58% of pipeline from Inbound activities
- First Touch Attribution: In this model the first touch-point—in this case the Facebook display ad—would receive 100% of the credit for the sale. This model works best if your top goal for running ads is to create initial awareness. Last Touch Attribution: In this model the last touch-point—in this case the direct channel (your website)—would receive 100% of the credit for the sale. This model works best if your ads are designed to attract people at the moment of action (often purchase), or if your business has a mostly transactional sales cycle. Multi Touch Attribution: In this model every touch-point in the conversion path—in this case, Facebook, Google, Email Marketing, and your website—share equal credit for the sale (25% each). This model works best if your ad campaigns are designed to maintain interest, awareness, and contact throughout the sales cycle. Time Decay Attribution: In this model the touch-points that are closest in time (most recent) to the sale get more of the credit. For this example, the direct and email channels would get the most credit because the customer interacted with them within hours of purchase, and Facebook and Google would receive less credit, since the interaction occurred almost a week prior. This model works best if your sales cycle has a very short consideration phase, or if you are running short promotion type campaigns. Position Based Attribution: In this model, 40% of the credit is assigned to each the first and last interaction, and 20% credit is distributed across the remaining interactions that make up the middle. In this example Facebook and Direct channels would each get 40% attribution and Google and the email would get 10% each. This model works best if you value the touch-points that introduced a customer to your brand and the touch-points that resulted in action. Last Non-Direct Click Attribution: In this attribution model, direct traffic is disregarded and 100% of the credit goes to the channel that the customer engaged with before the sale—in this case the email channel would get 100% of the attribution. This model is helpful to marketers looking to see where traffic is coming from before conversion. Last Adwords Click Attribution: This is a model that is specific to Google AdWords, but you could adapt it for other advertising platforms, the last AdWords click—in this case the only click from Google—would receive 100% of the credit for the sale. This model helps marketers identify and credit their AdWords ads that closed the most conversions.
- Count all the successful touches In a multi-channel scenario, successful touches can happen across numerous channels. Perhaps the customer’s last touch point was a digital ad, but prior to purchasing, he spent time in an email, on your Facebook page, and on your Twitter feed. When collecting all your touches, be sure to only count those that occurred before the action was taken—those that led to the action. Assign value to the final action You might use a transactional system, or marketing automation as the system of record for how much the action is worth. A marketing automation tool can make this easy for you, by allowing you to predefine the values for each type of activity. Distribute that value across your successful touches In a multi-touch attribution scenario (multiple marketing activities with a buyer over time), you assign a value to each successful touch. Often, this is best done with simple distribution: if a buyer touched five marketing programs, each touch point gets one fifth of the credit for the ultimate value.
- A quick look back at the funnel – so today we have been focusing on the attract part of the funnel. But we want to make sure these visitors and leads actually close the deal with you. I will give you some tricks on how you can track each of your top of the funnel programs to the end of the sales cycle to the bottom of the funnel.