Padilla Beyond Clips Clicks And Hits 040110

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A New Look at Measurement:

What's the Value of Your Marketing
and Communications Investments?
During a challenging economy, every dollar spent on marketing and business communications is open to scrutiny. So measuring the effectiveness and impact of these programs is more important than ever.

Yet even with today's advanced technology and tools, many organizations aren't sure how to determine the value, effects and relative return on their communications efforts.

This presentation includes insights on the best strategies, methods and tools to help you calculate the value of your communications investments – and make the most of your marketing spend.

You'll Learn:
• Common mistakes of measuring results.
• Shifting from measuring what can be measured to measuring what's important.
• The best new and traditional tools to benchmark and track performance.
• How to focus on activities that shorten the sales cycle.

Published in: Business
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Padilla Beyond Clips Clicks And Hits 040110

  1. 1. April1, 2010
  2. 2. Agenda Introductions And Level Setting Why Measurement Is Difficult The Importance Of Measurement Common Methodologies Five Fundamentals Of Measurement Case St d Examples C Study E l Conclusion/Questions 2 Beyond Clips, Clicks & Hits
  3. 3. The State Of Affairs • Anything that costs money must be justified • Most organizations don’t know how to measure the value, impact, effects and relative return on communication efforts • As a result, many resort to counting what they can count 3 Beyond Clips, Clicks & Hits
  4. 4. Common Questions We Get • How do I calculate the ROI of marketing and communications? • How do I weigh individual elements in the marketing mix? • Can I tie publicity to sales or a stock price? • What have you done for me lately? 4 Beyond Clips, Clicks & Hits
  5. 5. First, Some Simple Math Marketing ≠ Marketing Communications ≠ Integrated Communications ≠ Tactics 5 Beyond Clips, Clicks & Hits
  6. 6. The Basic Hierarchy • Marketing • Finance - Marketing Communications - Investor Relations > Collateral C ll l > Collateral C ll l > Seminars & Events > Investor Events > Media Relations > Media Relations > Public Relations > Public Relations > Perception Research > Perception Research > Crisis / Critical Issues > Crisis / Critical Issues > Advertising > Publicity > Direct Marketing > Interactive > Social Media 6 Beyond Clips, Clicks & Hits
  7. 7. Together They Help Organizations Reach The Audiences Important To Their Success Customers Industry Associations Shareholders Media Your company Employees Channel Partners Suppliers and Standards Bodies Partners Industry Analysts 7 Beyond Clips, Clicks & Hits
  8. 8. Why Measure? Because The Results Help: • Prioritize work • Justify the spend • Refine a program • Move from anecdotal to factual • Shift from “reacti e” to “proacti e” mode “reactive” “proactive” 8 Beyond Clips, Clicks & Hits
  9. 9. The Value Of Measurement • Prove that you met objectives • Benchmark/track performance • Gain competitive advantage • “Move the needle” - Sales? - Awareness? - Response – Trial, evaluation, adoption 9 Beyond Clips, Clicks & Hits
  10. 10. Why Is It So Difficult? • It takes time • It takes money • We’re dealing with human behavior • External factors • There are no 1:1 correlations • Integrated programs • It’s viewed as justification rather than a value-add • Distinguishing between “value” and “ROI” 10 Beyond Clips, Clicks & Hits
  11. 11. Determining Value Monetary VALUE Utility Reputation 11 Beyond Clips, Clicks & Hits
  12. 12. EVERYTHING CAN BE MEASURED!!! 12 Beyond Clips, Clicks & Hits
  13. 13. You Need To Determine… • How much should I put into it? • Do I know the vital metrics (for finance, operations, sales, marketing, etc.)? • Can you act on the data? • What’s my time frame? 13 Beyond Clips, Clicks & Hits
  14. 14. IT’S A JUNGLE OUT THERE 14 Beyond Clips, Clicks & Hits
  15. 15. The “HIPPO” Methodology Based on the Highest Paid Person’s Objective 15 Beyond Clips, Clicks & Hits
  16. 16. The “Penguin” Methodology Each tactic measured the same way 16 Beyond Clips, Clicks & Hits
  17. 17. The “Monkey-See-Monkey-Count” Methodology Counting … just because you can 17 Beyond Clips, Clicks & Hits
  18. 18. The “T-Rex” Methodology So big that it consumes your entire budget 18 Beyond Clips, Clicks & Hits
  19. 19. Five Fundamentals Of Measuring Programs 1. Start with research 2. Set measurable objectives 3. Only measure what’s important 4. Use the right tools 5. Measure continuously 19 Beyond Clips, Clicks & Hits
  20. 20. FUNDAMENTAL #1 START WITH RESEARCH 20 Beyond Clips, Clicks & Hits
  21. 21. Numerous Research Options • Quick surveys and polls • Intercepts/on-the-spot surveys • Omnibus surveys • Media monitoring • One-on-one, in-depth interviews • Social media monitoring • Focus groups (traditional or • Competitive analysis online) • Advertising analysis • Media content analysis 21 Beyond Clips, Clicks & Hits
  22. 22. FUNDAMENTAL #2 SET MEASURABLE OBJECTIVES 22 Beyond Clips, Clicks & Hits
  23. 23. Tips To Developing Measurable Objectives • Objectives must: - Address a specific outcome - Designate the specific target audience - Specify a specific level of attainment - Identify a specific timeframe 23 Beyond Clips, Clicks & Hits
  24. 24. Example: Business Objective #1 • Generate $25 million in revenue from X product line - Sales Objective: Improve win-ratio by 40 percent and shorten sales cycle by 20 percent - Marketing Communication Objective: Increase qualified sales leads by 20 percent over 2008 - Product Marketing Objective: Identify three to five possible line extensions based on feedback and use of initial launch model - Financial Communication Objective: Increase institutional ownership by 10 percent 24 Beyond Clips, Clicks & Hits
  25. 25. Example: Business Objective #2 • Improve customer preference of brand - Marketing Objective: By 4Q09, achieve 55 percent brand awareness among 25- to 40-year-old 40 year old men in the U.S. by increasing awareness by 10 percent US - Financial Communication Objective: Increase number of analysts following the company - Communication Objective: Maintain no 1 share of voice position in tier one trade no. share-of-voice publications compared to competitors A, B and C 25 Beyond Clips, Clicks & Hits
  26. 26. FUNDAMENTAL #3 ONLY MEASURE WHAT’S IMPORTANT 26 Beyond Clips, Clicks & Hits
  27. 27. Metrics – The Three O’s • Outputs: Execution of program elements - All work measured on budget, timing and message alignment - Are we getting the work done efficiently and effectively? • Outtakes: The net impression - Strive for majority of deliverables j y - Media coverage, circulation, event attendance, distribution, search rankings - Are we reaching the right people? • Outcomes: The behavior that follows - Tied to business goals - Sales increase, lead generation, unaided awareness, incoming versus outgoing media calls - Programs, not tactics 27 Beyond Clips, Clicks & Hits
  28. 28. Audience – Specific Outputs, Outtakes And Outcomes Target Desired Key Comm. Cares About Metric Audience Action Message Strategy Financial Analysts • Company • Recommend • Next big market • Focus • Increase performance stock opportunity is conference market cap • Strength of • Buy/retain “XYZ,” and our activity and • Change mix of management stock as core in company has a regional road shareholders team long-term long term leadership shows on • Market growth position here priorities leadership portfolios • Company • Upgrade IR Web • Write positive performance site reports exceeds industry leaders y Channel Partner • Sales leads • Promote to • Easiest to • Education • Leads • Revenue existing install • “Company in a • Sales cycle • Margin customers • Easiest to use box” • Jobs quoted • Recommend in • Easiest to do • Regional • Jobs won new proposals business with advertising • Revenue by • Accurately partner represent us 28 Beyond Clips, Clicks & Hits
  29. 29. FUNDAMENTAL #4 USE THE RIGHT TOOLS 29 Beyond Clips, Clicks & Hits
  30. 30. Sample Measurement Tools • Radian6 • BlogPulse • LexisNexis • Technorati • Google News • Survey Monkey • Google Analytics • Gallup • Compete.com • BizShark.com • Clipping Services • Alexa.com • Search.Twitter.com • D&B Database • BoardLeader.com • BackType.com 30 Beyond Clips, Clicks & Hits
  31. 31. FUNDAMENTAL #5 MEASURE CONTINUOUSLY 31 Beyond Clips, Clicks & Hits
  32. 32. Benchmark, Track, Analyze And Act Review last year’s metrics; set program objectives Feed evaluation Monitor and results into track p planning g p g progress process Leverage observable changes 32 Beyond Clips, Clicks & Hits
  33. 33. COMMUNICATION MEASUREMENT: CASES AND EXAMPLES 33 Beyond Clips, Clicks & Hits
  34. 34. Example #1: Vital Images Outreach Review last year’s metrics; set program objectives Monitor and track progress Leverage observable changes Feed evaluation results into planning process Company seeks more sell-side analyst coverage 34 Beyond Clips, Clicks & Hits
  35. 35. Example #1: Vital Images Outreach, cont. One-year IR program results: • Raised stock price 39 percent to >$30 • Market M k t cap increased 38 percent t >$400 million; i d t to illi now at $550 million • Three new national sell-side analysts initiated coverage • Increased institutions holding >100,000 shares from g , 15 to 26, up 73 percent • Successful $100 million secondary offering completed 35 Beyond Clips, Clicks & Hits
  36. 36. Example #2: Rockwell Automation Convergence Needed to eliminate the long-standing technical – and turf – barriers between IT and factory-floor engineers Embarked on a program to educate and persuade tighter collaboration Breaking down barriers to strategic sales 36 Beyond Clips, Clicks & Hits
  37. 37. Example #2: Rockwell Automation Convergence, cont. Garnered over 600 media placements On-site visits and presentations to 8,000-plus customers on four continents. Attracted more than 1,000 attendees combined for three educational webcasts Increased Internet traffic by nearly 50 percent to Web landing pages Exceeded sales forecasts for the first-of-its-kind Stratix 8000 switch Two-thirds of attendees at webcasts indicated o t ds o atte dees ebcasts d cated intent to buy Rockwell Automation products Educated more than 1,000 salespeople and distributors 37 Beyond Clips, Clicks & Hits
  38. 38. In Closing • Everything can be measured • Don’t fall into the ROI trap • The value of measuring tactics is limited • Consider measurement a process … not a point in time 38 Beyond Clips, Clicks & Hits
  39. 39. Thank You

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