Digital Marketing: Types of Data & Insights

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  • Have to go back to the marketing strategy, Everyonewillsay > we have a strategy > but isitintegrated?Integrated > with the whole marketing plan.
  • If you don’t have a strategy, or maybe you want to review which business issues are important within a strategy review we’ve set out the 10 most common problems that arise if you don’t have a strategy below1 You’re directionlessI find that companies without a digital strategy (and many that do) don’t have clear strategic goals for what they want to achieve online in terms of gaining new customers or building deeper relationships with existing ones. And if you don’t have goals you likely don’t put enough resources to reach the goals and you don’t evaluate through analytics whether you’re achieving those goals.2  You won’t know your online market shareCustomer demand for online services may be underestimated if you haven”t researched this.  Perhaps more importantly you won’t understand your online marketplace: the dynamics will be different to traditional channels with different types of customer profile and behaviour, competitors, propositions and options for marketing communications. See online marketplace methodology post.3 Existing and start-up competitors will gain market shareIf you’re not devoting enough resources to digital marketing or you’re using an ad-hoc approach with no clearly defined strategies, then your competitors will eat your digital lunch!4. You don’t have a powerful online value propositionA clearly defined online customer value proposition will help you differentiate your online service encouraging existing and new customers to engage initially and stay loyal.5. You don’t know your online customers well enoughIt’s often said that digital is the “€œmost measureable medium ever”€. But Google Analytics and similar will only tell you volumes not sentiment. You need to use other forms of website user feedback tools to identify your weakpoints and then address them.6. You’re not integrated (“disintegrated”)It’s all too common for digital to be completed in silos whether that”€™s a specialist digital marketer, sitting in IT or a separate digital agency. It”€™s easier that way to package digital marketing into a convenient chunk. But of course it”€™s less effective. Everyone agrees that digital media work best when integrated with traditional media and response channels.7. Digital doesn’t have enough people/budget given its importanceInsufficient resource will be devoted to both planning and executing e-marketing and there is likely to be a lack of specific specialist e-marketing skills which will make it difficult to respond to competitive threats effectively.8. You’re wasting money and time through duplicationEven if you do have sufficient resource it may be wasted. This is particularly the case in larger companies where you see different parts of the marketing organization purchasing different tools or using different agencies for performing similar online marketing tasks.9. You’re not agile enough to catchup or stay aheadIf you look at the top online brands like Amazon, Dell, Google, Tesco, Zappos, they’re all dynamic “€“ trialing new approaches to gain or keep their online audiences.10 You’re not optimisingEvery company with a website will have analytics, but many senior managers don’t ensure that their teams make or have the time to review and act on them. Once a strategy enables you to get the basics right, then you can progress to continuous improvement of the key aspects like search marketing, site user experience, email and social media marketing.So that’s our top 10 problems that can be avoided with a well thought through strategy. What have you found can go right or wrong?
  • PlanReach > get the correct volumeAct > let user interact on your mediaConvert > try to createconvertingusersEngage > --------Step 1 Reach. Reach means building awareness of a brand, its products and services on other websites and in offline media in order to build traffic by driving visits to different web presences like your main site, microsites or social media sites.Step 2 Act. Act is about persuading site visitors or prospects take the next step on their journey when they initially reach your site or social network presence. It may mean finding out more about a company or it’s products, searching to find a product or reading a blog post. It’s about engaging the audience through relevant, compelling content and clear navigation pathways so that they don’t hit the back button. The bounce rates on many sites is greater than 50%, so getting the audience to act or participate is a major challenge which is why we have identified it separately.Step 3 Convert. Conversion is where the visitor commits to form a relationship which will generate commercial value for the business. It’s where marketing goals such as leads or sales on web presences and offline.Step 4 Engage. This is long-term engagement, building customer relationships over time through multiple interactions using different paid, owned and earned media touchpoints like your site, social presence, email and direct interactions  to boost customer lifetime value.
  • Every sport has it’sownmetricsFootball > Tennis >High Jump >3 talented defenders+midfielder+attackersHave certain endurance/ in good condition% possesion of the ball > to score> For online media, marketingpeople intend to forgetthatit’s the same in digital.
  • +250 metrics inmostanalytics packagesEasilygetlost in the big data pileFor eachcampaign set seperateKPI’s in order to identify the right Data youshould look at.
  • The RACE framework > easierway to map the online user/customerlifecycleYou know italready as the traditionalpathwaysfrom the marketing courseMetrics: bestpractise to alwaysbuild in a finacial KPI, as that’swhatcountsat the end.Examples:Awareness (Reach) for a big FMCG brand > % audience, new visitors, etcPurchase (convert): conversion rate, funnelabondoners and ultimately ROI eveneROIAdvocacy (Engage: # of fans, #of shares, cost per active fan
  • Makecommonsensedecisions !!!Different Performances for each site type (E-commerce vs Brand website)Pay attention to seasonalitywhencomparing data

Transcript

  • 1. Tom Rijsbrack – Digital Performance Manager - tom.rijsbrack@zenithoptimedia.be - +32(0)477 883.850Discover what types of dataand insights digital channelscan deliver to drive marketingdecisions and strategyTom Rijsbrack (Digital Manager Performance - ZenithOptimedia) 1
  • 2. Tom Rijsbrack – Digital Performance Manager - tom.rijsbrack@zenithoptimedia.be - +32(0)477 883.850Marketing strategy 2
  • 3. Tom Rijsbrack – Digital Performance Manager - tom.rijsbrack@zenithoptimedia.be - +32(0)477 883.850 Marketing strategy Q: Does your organisation have a clearly defined marketing strategy? 19% yes, integrated in strategy yes, but 12% separated 69% no clear strategySource: smartinsights.com 3
  • 4. Tom Rijsbrack – Digital Performance Manager - tom.rijsbrack@zenithoptimedia.be - +32(0)477 883.850 No clear Strategy, ehh? Why you need one?  You’re directionless  You won’t know your online market share  Existing and start-up competitors will gain market share  You don’t have a powerful online value proposition  You don’t know your online customers well enough  You’re not integrated (“disintegrated”•)  Digital doesn’t have enough people/budget given its importance  You’re wasting money and time through duplication  You’re not agile enough to catchup or stay ahead  You’re not optimisingSource: smartinsights.com 4
  • 5. Tom Rijsbrack – Digital Performance Manager - tom.rijsbrack@zenithoptimedia.be - +32(0)477 883.850 Marketing strategy Plan Engage Reach Convert ActSource: smartinsights.com 5
  • 6. Tom Rijsbrack – Digital Performance Manager - tom.rijsbrack@zenithoptimedia.be - +32(0)477 883.850Types of data 6
  • 7. Tom Rijsbrack – Digital Performance Manager - tom.rijsbrack@zenithoptimedia.be - +32(0)477 883.850 Choose your data +250 metrics Display SEM SocialSource: Google Analytics
  • 8. Tom Rijsbrack – Digital Performance Manager - tom.rijsbrack@zenithoptimedia.be - +32(0)477 883.850 Example types of data Reach Act Convert EngageCPM/CPI CTR CPC/CPE CPA/CPL Av. order value CPF (Fan) CPR (referral)*(Impression)* (Engagement)* (action/lead)* DisplayPreroll views Bounce rate # of downloads Conversion rate % of market Conversion recency Number of active fans% of SEMReach/audience Branded traffic pageviews Funnel abandoners Social tone of voice Social engagement Product reco’s Social# of new visitors Preroll viewrate Referral traffic ROI # of recurring visitors App use # identified ambassadorsimpressions Landing page # of visits goal Device stats Attribution Number of fans # of shares completion modelling Source: mediamash.be (metrics) + zenith optimedia (pathways) logos are TM + smartinsights.com (RACE) + tmw.co.uk/IAB (financial cost naming*)
  • 9. Tom Rijsbrack – Digital Performance Manager - tom.rijsbrack@zenithoptimedia.be - +32(0)477 883.850Data Insights & DecisionsDefine what to look at before diving intothe enormous data pool Initial KPI Set initial KPI (and the data sets to CPL 15€ measure it). If you don’t know a reasonable KPI, then pick one to do a benckmark later. Initial KPI Result KPI Compare your initial KPI with the latest CPL 15€ CPL 20€ result Adjust you initial KPI when the Initial KPI Result KPI New KPI estimation is way off schedule. Keep ROI CPL 15€ CPL 150€ 125€ in mind. 9
  • 10. Tom Rijsbrack – Digital Performance Manager - tom.rijsbrack@zenithoptimedia.be - +32(0)477 883.850Data Insights & Decisions How did your KPI’s perform? Channel Initial KPI Result KPI • Split each channel Paid Search CPL 15€ CPL 20€ • Create sub KPI’s if needed Display CPL 30€ CPL 31€ RTB CPL 20€ CPL 10€ Optimise or delete media channels according to their result ofter you tested thoroughly – What can be done to improve them – Or is it obvious the chosen mediachannel isn’t working. – Make common sense decisions !!! 10
  • 11. Tom Rijsbrack – Digital Performance Manager - tom.rijsbrack@zenithoptimedia.be - +32(0)477 883.850 Data Insights & Decisionswave1 Channel Initial KPI Result KPI budget Leads Paid Search CPL 15€ CPL 20€ 15000 1000  Maximize the Display CPL 30€ CPL 31€ 30000 1000 result by RTB CPL 20€ CPL 10€ 20000 1000 leveraging the 65000 3000 right mediawave2 Channel Initial KPI Result KPI budget Leads  In this case: Invest Paid Search CPL 15€ CPL 15€ 25000 1666 in other media RTB CPL 20€ CPL 10€ 40000 4000 65000 5666 could deliver 216% more leadswave3 Channel Initial KPI Result KPI budget Leads in Wave3 than RTB CPL 20€ CPL 10€ 65000 6500 Wave1 65000 6500 11