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How to Tell if Your Marketing is Working: Metrics That Help You See Under the Hood and Gauge Real Results
 

How to Tell if Your Marketing is Working: Metrics That Help You See Under the Hood and Gauge Real Results

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David Ogilvy once praised direct marketers for being able to measure everything about their marketing spend down to the penny. Well, today's multi-channel marketers face even more granularity with ...

David Ogilvy once praised direct marketers for being able to measure everything about their marketing spend down to the penny. Well, today's multi-channel marketers face even more granularity with measurements like click-through rates, likes, engagement scores, time on site, and form conversions. In fact, it turns out that you can measure an awful lot about your marketing that doesn't actually tell you whether or not it's driving business results for your company. So what metrics should you look at to tell if your marketing is, in fact, "working"?

Check out this presentation to discover how you can develop a strategic approach to marketing metrics and measurement that will help you evaluate and justify your current programs in terms of impact on revenue, plus identify areas you can improve upon to boost performance and profit.

You will learn:

- How you can tell that your marketing is working efficiently
- Which metrics are worth tracking, and what they tell you
- When you should check your metrics and what you need to properly interpret them
- How to develop a strategy of continuous marketing improvement

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    How to Tell if Your Marketing is Working: Metrics That Help You See Under the Hood and Gauge Real Results How to Tell if Your Marketing is Working: Metrics That Help You See Under the Hood and Gauge Real Results Presentation Transcript

    • How To Tell If Your Marketing Is Working: Metrics that help you see under the hood and gauge real results December 17, 2013 A special thank you to: Thank you for joining us – we will be starting at 2:00 PM ET/11:00 AM PT If you are unable to hear music at this time, please make sure that your computer speakers are turned on and that your system has not been muted. #TMGWebinar
    • Today’s Speakers Rebecca Madigan Jon Miller Executive Director Performance Marketing Association, Inc. VP of Marketing and Co-founder Marketo Moderator Thorin McGee Editor in Chief Target Marketing #TMGWebinar
    • Tips for Webinar Attendees • Technical difficulties? Let us know by using the “Q and A” box, or trouble-shoot by clicking the “Help” widget below → Quick tip: Common problems (like loss of sound and/or stall in the slides) can often be fixed by a quick refresh of your browser. • Have a question for today’s speaker? Submit via the “Q and A” box • Please disable pop-up blockers • See what this console can do! Click on the “Tips for Attendees” widget for the complete rundown. Don’t forget to “share” this webinar! #TMGWebinar
    • Please Welcome Rebecca Madigan Executive Director Performance Marketing Association, Inc. #TMGWebinar
    • Dramatic Market Shifts We are behind consumers
    • Consumers are out in front How/When/Where They Shop
    • • Consumer Engagement: ZMOT • Location: Mobile • Purchasing Decision Making: Coupons • Measurement: Attribution
    • Consumer Engagement
    • First Moment of Truth
    • Source: Google, Zero Moment of Truth
    • Source: Google, Zero Moment of Truth
    • Source: Google/Shopper Sciences, Zero Moment of Truth Macro Study, US, April 2011
    • 2010: Average 5.3 Sources 2011: Average 10.4 Sources Nearly Doubled in 1 Year Source: Google/Shopper Sciences, Zero Moment of Truth Industry Studies, US, April 2011
    • Location
    • 85% of the world’s population owns a mobile device. 20% of advertiser websites are NOT mobile enabled. Source: Mobile Marketing Association Source: Google, Zero Moment of Truth
    • From 2012 to 2013, traffic leading to ecommerce sites from mobile devices has almost doubled. Source: Monetate EQ1 report
    • Conversion rates on iPads exceeded those on traditional computers in Q1 2013. Source: Monetate EQ1 report
    • 77% use another device while watching TV source: Google and ipsos otX post Holiday shopping intentions study, u.s., Jan. 2012
    • source: Google and ipsos otX post Holiday shopping intentions study, u.s., Jan. 2012
    • Purchasing Decisions
    • 70% of online shopping carts are abandoned by the shoppers before they get to a purchase. 82% 18% “When you shop online after visiting a retailer’s site, do you leave to search for a better deal, offer or coupon from a cashback, deal, offer or coupon website?” Source: (5) Forrester Consulting, “The Impact of Online Coupons and Promotion Codes” 2011 Source: Performance Marketing Association “Consumer Value Survey” April 2013
    • Coupons “How much more likely are you to purchase from a merchant after finding a discount?” Source: (5) Forrester Consulting, “The Impact of Online Coupons and Promotion Codes” 2011 Source: Performance Marketing Association “Consumer Value Survey” April 2013
    • How Do Advertisers Navigate These Changes?
    • Performance Advertising Partners Source: Google, Zero Moment of Truth
    • Affiliates are everywhere you’re not Targeted focus Niche markets Brand extenders Search specialists Affiliates take all the risk – advertisers only pay for sales Source: Google, Zero Moment of Truth Handbook
    • >200,000 US affiliate marketers • • • • • • • Offers and Rewards Content Paid Search Shopping Comparison Social Software Mobile Source: Performance Marketing Association
    • Performance Marketing Fastest growing advertising model* Most relevant to consumers Completely dependent upon consumer trust Most measurable type of marketing *Source: IAB Internet Advertising Revenue Report for Full-Year 2012
    • Measurement
    • “The primary purpose of advertising is to sell more stuff.” - Abraham Lincoln
    • Attribution Source: BlitzAgency.com
    • Attribution Source: seedtheweb.com
    • Google Analytics Source: Google, Zero Moment of Truth Handbook
    • Holy Grail: Lifetime Value
    • http://hbsp.harvard.edu/multimedia/flashtools/cltv/
    • Hard Results 1. Affiliate network reports: Conversions, CTR and SALES! 2. Attribution 3. LTV Indicators 1. Goolge Analytics: device usage 2. Social media responses “Likes” 3. Clicks and Impressions
    • FREE E-BOOKS By Jim Lecinski http://www.zeromomentoftruth.com/
    • Thank you! Rebecca Madigan Performance Marketing Association rebecca@performancemarketingassociation.com
    • Please Welcome Jon Miller VP of Marketing and Co-founder Marketo #TMGWebinar
    • How To Tell If Your Marketing Is Working Metrics that help you see under the hood and gauge real results © 2013 Marketo, Inc. Marketo Proprietary and Confidential
    • Hi, I’m Jon Miller VP Marketing and Co-Founder, Marketo 1. My first child was born the same month that we incorporated Marketo 2. Born in Ethiopia 3. Undergraduate degree in Physics at Harvard 4. I have a top secret “Q” clearance from DOE @jonmiller Page 43 © 2013 Marketo, Inc. @jonmiller
    • What Profits Can Be Generated With 10% More Budget? #1 Answer: Don’t Know Source: 2010 Lenskold Group / emedia Lead Generation Marketing ROI Study Page 44 © 2013 Marketo, Inc. @jonmiller
    • When Metrics Take Away Credibility Vanity Metrics Sound good and impress people, but don’t measure impact on revenue or profitability Activity Metrics Measure what you do instead of what results and impact you have Page 45 © 2013 Marketo, Inc. @jonmiller
    • When Metrics Take Away Credibility Cost Metrics Frame marketing in terms of cost and spending instead of results and outcomes Page 46 © 2013 Marketo, Inc. @jonmiller
    • Metrics That Give Marketing Power “Speak the Language of Business” Revenue Cycle and Forecasts Aggregate impact on company revenue; pipeline performance; predictive forecasts Page 47 © 2013 Marketo, Inc. @jonmiller
    • Metrics That Give Marketing Power “Speak the Language of Business” Program Performance Incremental revenue contribution and ROI of individual marketing programs Page 48 © 2013 Marketo, Inc. @jonmiller
    • Revenue Cycle Metrics Page 49 © 2013 Marketo, Inc. @jonmiller
    • Sales Lead Lead Target Engaged Name Friend Awareness Marketo’s Revenue Cycle Opportunity Customer Nurturing Database TOFU Page 50 © 2013 Marketo, Inc. MOFU @jonmiller BOFU
    • Revenue Cycle Modeler Screenshot: Marketo Revenue Cycle Analytics Page 51 © 2013 Marketo, Inc. @jonmiller
    • Key topic areas: • Balance (Reach) • Flow • Conversion • Velocity Filter/Drill into data, e.g. by Program Type, Business Unit, Geography, etc. Screenshot: Marketo Revenue Cycle Analytics Page 52 © 2013 Marketo, Inc. @jonmiller Trends over time
    • Use Metrics to Set & Justify Budgets 120,000 (900K DB Total) New MQLs New Targets Score>100 60,000 15.3% 10.5% Inventory Of Active Targets 23,000 2.4% 20,000 Inventory of Active MQLs New Opps* New SQLs 1.9% 75% 922 SDR capacity driven 6 Month Created Opp Inv. 2,000 131,000 *Opps is bigger than SQLs because includes outbound and partner referrals Page 53 © 2013 Marketo, Inc. @jonmiller 270 1,000 35% win Wins Inbound / Programs New Names
    • Marketing Forecasts Get The “Definitive Guide to Marketing Metrics & ROI” http://marketo.com/DG2MM Page 54 © 2013 Marketo, Inc. @jonmiller
    • Program Performance Page 55 © 2013 Marketo, Inc. @jonmiller
    • Source: Marketo data, Marketo Revenue Cycle Analytics. Does not include all sources. Page 56 © 2013 Marketo, Inc. @jonmiller
    • But First Touch Doesn’t Work By Itself… • Multiple touches. Seven touches needed to convert a cold lead into a sale • Multiple influencers. Typical buying committee has 5-21 people Page 57 © 2013 Marketo, Inc. @jonmiller
    • Track All Touches Across People Screenshot: Marketo Revenue Cycle Analytics Page 58 © 2013 Marketo, Inc. @jonmiller
    • Track All Touches Across People Screenshot: Marketo Revenue Cycle Analytics Page 59 © 2013 Marketo, Inc. @jonmiller
    • Example: Multi-Touch Attribution A deal worth $100,000 recently closed. Three people were involved in the deal: • Person A attended Seminar A and Trade Show B • Person B attended Trade Show B • Person C was sent Direct Mail C $100,000 Revenue $25,000 Seminar A $25,000 Page 60 © 2013 Marketo, Inc. $25,000 $25,000 Tradeshow B $50,000 @jonmiller $25,000 Direct Mail C $25,000
    • Screenshot: Marketo Revenue Cycle Analytics (actual data) Page 61 © 2013 Marketo, Inc. @jonmiller
    • % Above Min* 89% 76% 75% 41% 57% 73% 67% Source: Marketo Revenue Cycle Analytics, Nov 2013 * Percentage of all programs in channel that achieve MT Ratio > 5 Page 62 © 2013 Marketo, Inc. @jonmiller 10.4 66%
    • Tweetable Takeaways & Q&A 1. Reporting is less important than DECISIONS that improve ROI 2. Focus on financial metrics that matter to the CFO (profit, cash, revenue) 3. Avoid cost and spend metrics – focus on investment and return 4. A trusted marketing forecast is the single most important step to make marketing a revenue driver, not a cost center Page 63 © 2013 Marketo, Inc. @jonmiller @jonmiller
    • Question & Answer Session If you haven’t done so already, please take this time to submit questions to our speakers using the “Q&A” box on your console. #TMGWebinar
    • Thank You Thank you for taking the time to attend our webinar today. For additional information about our webinar series, check out the following Web site: www.targetmarketingmag.com/webinar Please take a moment to fill out our feedback survey. (It will open in a new browser window/tab momentarily!) #TMGWebinar