Marketing Metrics That Matter - PRI

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Professional racer-turned marketing and business strategist Tom Marx discusses how small businesses can benefit from tracking and understanding sales, marketing, public relations and social media figures.

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Marketing Metrics That Matter - PRI

  1. 1. MARKETING METRICS THAT MATTER Presented By - Tom Marx © 2013 The Marx Group
  2. 2. WHAT ARE MARKETING METRICS? © 2013 The Marx Group Data and statistics that help determine the effectiveness of a marketing program 2
  3. 3. WHAT ARE WE MEASURING? • Brand awareness • Engagement • Conversion © 2013 The Marx Group 3
  4. 4. WHY ARE METRICS IMPORTANT? © 2013 The Marx Group Accountability Establishes goals Gauges success Provides focus Allows opportunity to learn and improve • Proves value of the specific marketing tactic… • • • • • 4
  5. 5. WHY DO METRICS MATTER? ROI © 2013 The Marx Group 5
  6. 6. The RIGHT metrics need to be made available to the RIGHT people. © 2013 The Marx Group 6
  7. 7. WHO NEEDS METRICS? • Marketing team • Sales team • Management © 2013 The Marx Group 7
  8. 8. WHAT MAY BE HAPPENING © 2013 The Marx Group • Lack of accountability • No review of analytics • Sales and Marketing are in silos • Paralysis by Analysis • Confusion, lack of focus 8
  9. 9. What is REALLY important? © 2013 The Marx Group 9
  10. 10. WHAT IS REALLY IMPORTANT Focus your efforts on key metrics that will provide the greatest impact © 2013 The Marx Group 10
  11. 11. Brand Awareness MARKETING CONVERSION FUNNEL Engagement & Interest Conversion & Loyalty © 2013 The Marx Group 11
  12. 12. METHOD © 2013 The Marx Group 12
  13. 13. Ready • Define your goal • Make one person accountable © 2013 The Marx Group 13
  14. 14. Aim • Design your program • Make sure it’s measurable © 2013 The Marx Group 14
  15. 15. Fire! © 2013 The Marx Group 15
  16. 16. Evaluate • Measure your progress © 2013 The Marx Group 16
  17. 17. Adjust © 2013 The Marx Group 17
  18. 18. © 2013 The Marx Group 18
  19. 19. Do digital, and do it well © 2013 The Marx Group 19
  20. 20. TOP 5 METRICS THAT MATTER 1. ADVERTISING & PR 2. WEB TRAFFIC & CONVERSIONS 3. SEO 4. EMAIL MARKETING 5. SOCIAL MEDIA © 2013 The Marx Group 20
  21. 21. EMBRACE YOUR TOOLS • Google Analytics • Constant Contact • HootSuite © 2013 The Marx Group 21
  22. 22. #1 ADVERTISING & PR © 2013 The Marx Group 22
  23. 23. “I can’t measure ROI on print advertising.” (print!) ADVERTISING © 2013 The Marx Group FALSE! Yes you can, if you define what you want to measure, and build your ad accordingly 23
  24. 24. (print!) ADVERTISING You CAN measure ROI on print advertising. CALL TO ACTION >>> CONVERSION © 2013 The Marx Group 24
  25. 25. “Digital advertising is all about impressions.” (digital!) ADVERTISING © 2013 The Marx Group FALSE! If you are sales focused, it’s about click thru and conversion 25
  26. 26. (digital!) ADVERTISING © 2013 The Marx Group You can have 100,000,000 impressions, but if you aren’t getting the conversion rates you need, it doesn’t matter 26
  27. 27. Your April ad campaign has a call to action of “buy 2 sets of engine bearings and get 2 free” ADVERTISING EXAMPLE! © 2013 The Marx Group What metrics do you track? • Increase in sales • Number of clicks from digital ads - and clicks that lead to a purchase 27
  28. 28. “There is no value in PR.” PUBLIC RELATIONS © 2013 The Marx Group FALSE! There is great value in PR once you define your expectations 28
  29. 29. PUBLIC RELATIONS © 2013 The Marx Group Set expectations. Measure your pickups. Drives brand awareness. Delivers credibility. 29
  30. 30. During your new product launch you distribute a press release. What do you track? PUBLIC RELATIONS EXAMPLE! • • • • © 2013 The Marx Group Number of times your release was published Number of editorial opportunities created During product sales over the next 6 months – ask how they heard of the new product Track click thrus to a dedicated landing page 30
  31. 31. #2 WEB TRAFFIC & CONVERSIONS © 2013 The Marx Group 31
  32. 32. “My business isn’t driven by E-commerce, so my website isn’t a priority.” WEBSITE TRAFFIC © 2013 The Marx Group FALSE! Your website is your most important piece of owned media. 32
  33. 33. • Build your site with goals in mind • Content • Engagement • Traffic Analytics WEBSITE TRAFFIC © 2013 The Marx Group 33
  34. 34. Analytics: WEBSITE TRAFFIC © 2013 The Marx Group What you should be tracking. – Traffic sources – Repeat visitors – Page views – Conversion rates 34
  35. 35. WEBSITE TRAFFIC: Unique & Repeat Visitors © 2013 The Marx Group 35
  36. 36. WEBSITE TRAFFIC: Page Views © 2013 The Marx Group 36
  37. 37. WEBSITE TRAFFIC: Traffic Sources © 2013 The Marx Group 37
  38. 38. WEBSITE TRAFFIC: Traffic Sources © 2013 The Marx Group 38
  39. 39. WEBSITE TRAFFIC: Conversion First, define WHAT a conversion is for your website. • When a banner ad drives customer to purchase a product • PR that drives a user to view your white paper © 2013 The Marx Group 39
  40. 40. WEBSITE TRAFFIC: Conversion Rates Conversion Rate = © 2013 The Marx Group 40 # of Conversions Visits
  41. 41. EXAMPLE! Increase online sales. What do you track? • • new banner ad conversion $ amount of sales that came from that ad 1000 5% = 20,000 © 2013 The Marx Group 41
  42. 42. #3 SEO © 2013 The Marx Group 42
  43. 43. SEO “I have a website. If people search for widgets, they’ll find me.” FALSE! You need high rankings to be visible to your audience…you do this with Organic and paid SEO. © 2013 The Marx Group 43
  44. 44. WHAT IS SEO? Search Engine Optimization: The process of making a site and its content highly relevant for both search engines and searchers © 2013 The Marx Group 44
  45. 45. TWO WAYS TO APPROACH SEO © 2013 The Marx Group Organic & Paid 45
  46. 46. Search Engine Optimization provides: SEO © 2013 The Marx Group • Rankings • Traffic • Conversions 46
  47. 47. Danielle Russell, Automotive Industry Director at Google © 2013 The Marx Group ORGANIC “Own your digital shelf space.” PAID SEO 47
  48. 48. Be the leader in online performance cylinder head sales. EXAMPLE! © 2013 The Marx Group What do you track? • organic search engine ranking/position • Pay-per-click sales, from your paid SEO efforts • Key words 48
  49. 49. #4 EMAIL MARKETING © 2013 The Marx Group 49
  50. 50. EMAIL MARKETING “I can just use Outlook to email my customers. I don’t need another program to do that.” FALSE! Using an email marketing program allows you to learn what is (or isn’t) working…and automates list management © 2013 The Marx Group 50
  51. 51. EMAIL MARKETING © 2013 The Marx Group Stay focused on: • Content • Open Rates • Click thrus & forwards 51
  52. 52. Click-thru / Forwards >>> Cost per lead EMAIL MARKETING © 2013 The Marx Group 52
  53. 53. EMAIL MARKETING © 2013 The Marx Group 53
  54. 54. You want your customers to be aware of your new product. EXAMPLE! © 2013 The Marx Group What do you track? • Click –thrus to a landing page containing information on your new product • Sales – did the click-thrus lead to sales? 54
  55. 55. #5 SOCIAL MEDIA © 2013 The Marx Group 55
  56. 56. “My customers don’t care about social media.” SOCIAL MEDIA © 2013 The Marx Group FALSE! They do. So do their friends, their kids and your competitors. 56
  57. 57. SOCIAL MEDIA • Choose PLATFORMS that are relevant to your audience • It is all about ENGAGEMENT • REFERRALS – generate a call to action © 2013 The Marx Group 57
  58. 58. SOCIAL MEDIA ENGAGEMENT © 2013 The Marx Group 58
  59. 59. SOCIAL MEDIA © 2013 The Marx Group While Facebook offers its own analytics, HootSuite allows you to track analytics across multiple platforms. • Manage multiple social networks • Schedule posts • Track brand mentions • Analyze social media traffic 59
  60. 60. Your company’s Facebook page is holding an anniversary promotion. EXAMPLE! © 2013 The Marx Group What do you track? • Participants and engagement - # of people who comment and share your post - # of people who sign up for your promotion 60
  61. 61. Brand Awareness MARKETING CONVERSION FUNNEL Engagement & Interest Conversion & Loyalty © 2013 The Marx Group 61
  62. 62. 1. READY 2. AIM 3. FIRE 4. EVALUATE 5. ADJUST METHOD © 2013 The Marx Group 62
  63. 63. TOP 5 METRICS THAT MATTER: © 2013 The Marx Group 1. ADVERTISING & PR 2. WEB TRAFFIC & CONVERSIONS 3. SEO 4. EMAIL MARKETING 5. SOCIAL MEDIA 63
  64. 64. WHAT IS REALLY IMPORTANT Focus your efforts on key metrics that will provide the greatest impact © 2013 The Marx Group 64
  65. 65. Let’s Connect: tmarx@themarxgrp.com - (415) 453-0844, x106 facebook.com/themarxgroup linkedin.com/company/the-marx-group twitter.com/themarxgroup © 2013 The Marx Group 65

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