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Measurement Tools for Communications and Marketing Success
 

Measurement Tools for Communications and Marketing Success

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    Measurement Tools for Communications and Marketing Success Measurement Tools for Communications and Marketing Success Presentation Transcript

    • Copyright 2013 by Saurage Research, Inc. All rights reserved. No part of this document may be reproduced by any means whatsoever without permission in writing from Saurage Research, Inc. Susan Saurage-Altenloh August 2013 Measurement for Successful Communications and Marketing
    • 2 IABC Houston | 22 August 2013 2 • Know [everything] about customers and how they make choices • Convert any and every thing you know into marketing strategies that expand the business • Leverage [all of] this knowledge for stronger positioning, greater share of wallet, enhanced customer loyalty and a stronger bottom line…in any economy The marketer’s challenge…
    • 3 IABC Houston | 22 August 2013 3
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    • 6 IABC Houston | 22 August 2013 6 Knowing this information modifies your own communication strategy. How might this kind of knowledge help modify a company’s plan?
    • 7 IABC Houston | 22 August 2013 7 Integrated Marketing Communications Plan Research & insights (initial, periodic) • Gather: baseline, SWOT, customers, communications, competitors, empirical data Refine strategic communications plan • Create messaging / marketing matrix for segments, company, partners, employees, etc. Design & execute tactical plans • Establish messaging consistent to segment. Measure effectiveness of every effort and platform. Measure effectiveness overall • Benchmark impact of strategic marketing communications plan against goals
    • 8 IABC Houston | 22 August 2013 8 Measurement m’s and m’s “Continuous monitoring of performance against predetermined targets is essential in achieving effective and efficient integrated marketing communications.” Knowledge replaces guesses and estimates ROI of MR difficult to calculate and justify Reliable and cost-effective MR reveals insights Dollars needed for higher-priority marketing initiatives Link marketing spend with related performance Investment of time and resources too much for time-starved marketers Track marketing against budget and on-time execution Learning new methodologies, platforms, language…overwhelming
    • 9 IABC Houston | 22 August 2013 9 Insights available in many forms… Quantitative • Measurable, structured, projectable, expressed in numeric form • Format: Statistics (metrics) • It asks: How many? Qualitative • Subjective, exploratory, open-ended, anecdotal • Format: Metaphors, symbols, stories • It asks: What? Why? Competitive Intelligence • Gathering, analyzing, and managing external information that affects plans, decisions, operations • Format: Interviews, info retrieval, market analytics, empirical data • It asks: Status, history
    • 10 IABC Houston | 22 August 2013 10 Inexpensive tools are available… With customers: • Simple onsite surveys • Roundtables, lunch & learns • Direct ask, IDIs • Online customer surveys With external markets: • Quantitative surveys – Online, phone, email, direct mail • Qualitative surveys – Focus groups, IDIs, OQR, ethnography With internal markets: • Roundtables, lunch & learns • Direct ask, IDIs • Employee communities
    • 11 IABC Houston | 22 August 2013 11Image from ProvalisResearch.com ad in AAPOR 2013 conference guide  Text analytics  Content / sentiment analysis  Integrating data and images  Social media metrics  Data mining {SCARY EXPENSIVE NEW STUFF}
    • 12 IABC Houston | 22 August 2013 12 Metrics for Successful Marketing • Revenue Metrics: Marketing’s aggregate impact on company revenue • Marketing Program Performance Metrics: The incremental contribution of individual marketing programs • Customer Profitability: Lifetime value of an incremental customer • Web Analytics: Measures Web visibility to target audiences against potential audiences, and compares against industry and competitor benchmarks • Public Relations: Measures views and impact of corporate communications initiatives • Product Performance: Comparatively measures the total sales and margins of individual products • Brand Preference and Health: Assesses brand preference in relation to preference for competing brands • Sales Tool Usage: Measures which product marketing materials are being used the most Marketo.com’s “Definitive Guide to Marketing Metrics”
    • 13 IABC Houston | 22 August 2013 13 Where Metrics Go Wrong • Vanity metrics: impressions, views, FB Likes aren’t the rights choice for CEO deliverables, only for internal uses • Measuring what is easy: stand-in numbers for difficult-to-measure items • Focusing on quantity rather than quality • Activity, not results: activity is easy to see; marketing results are harder to measure • Efficiency, not effectiveness: Effectiveness metrics (doing the right things) differ from efficiency metrics (doing – possibly the wrong – things well) Marketo.com’s “Definitive Guide to Marketing Metrics”
    • 14 Case 1 – Expanding Customer Base (B2B) • Understand true customer – completely • Identify selection influencers – situational, regulatory, cultural • Integrate all insights with internal stakeholder objectives • Measure using established empirical data Cable Management Solutions Company
    • 15 Case 2 – Responding to Changes in the Market (CPG) • Industry data and scanning – significant consumption changes • Define the product space – attributes, grocery shelf • Reposition the brand – packaging, messaging, delivery strategy • Measure impact of strategic actions taken Beverage Manufacturer
    • 16 Case 3 – Renewing a Brand (retail) • Understand true customer – completely • Identify retail dynamics, brand churn, gaps • Test concepts, strategies • Gather empirical data – evaluate bottom line impact • Implement ongoing linear measurement Electronics/Home Furnishings Store Chain
    • 17 Case 4 – Encouraging Different Choices (program) • Baseline behaviors of customers • Identify triggers for change – emotions, hopes • Implement programs that utilize / reflect triggers • Gather empirical data on new program usage • Measure customer recognition of program availability • Regear programs State Employee Benefits Program
    • 18 Case 5 – Defining Brand Equity (service) • Understand the offering – completely • Identify and profile promoters and detractors of the brand (NPS) • Build marketing strategy based on new insights • Track changes in awareness and NPS against marketing initiatives Valve Service Network
    • 19 Consider… • Internal (empirical) data – put it to work for you • Understand your market – industry scanning • Establish ways to proactive listen to customers • Measure what is useful, effective, important, actionable • Build cache of insights and knowledge
    • 20 IABC Houston | 22 August 2013 20 Does your marketing measure up? ssaurage@SaurageResearch.com http://pinterest.com/saurageresearch/ http://twitter.com/RealitySpikes http://www.linkedin.com/company/saurage-research-inc. https://www.facebook.com/SaurageMarketingResearch http://www.saurageresearch.com/category/blog/ Explore the research possibilities:
    • 21 IABC Houston | 22 August 2013 21 About the Presenter Susan Saurage-Altenloh specializes in designing research strategies and producing results that meet clients' information needs – completely and exactly. Susan has gathered actionable data for a client list that includes nationally known medical facilities, large manufacturers and refineries, prominent financial institutions, municipal and national governmental agencies, and advertising/ marketing firms. The most notable ones – Tenet, Conoco, Cameron, the EPA, HP/Compaq, Chicago Board of Trade, BP, Exxon, Dow, Siemens Transmission Products and McDonald’s – include several Fortune 500 companies. Susan has authored several articles appearing in national and regional business publications and regularly appears on television as an expert in market information and research trends. She is a graduate of the MBA program at University of Texas at Austin and graduated Magna Cum Laude from Houston Baptist University.