Digital Marketing Dashboard: Which Metrics are Lame & Which are Awesome
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In a presentation for the AMA Symposium for the Marketing of Higher Education, r2i VP of Digital Marketing Eric Jones presented with AVP Marketing & Communications Sharon Higgins from Loyola University of Maryland to talk about lessons learned in creating an omnichannel dashboard and the value of combining offline and online marketing metrics. When faced with big data, marketers have to know how to create the small data sets that will provide meaningful information about marketing campaigns. From evaluating landing page performance to creating campaigns to drive more qualified lead conversions, Loyola captured all activity in multiple marketing dashboards with a focus on what was working and what was not. An optimized dashboard leads to optimized marketing.
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Digital Marketing Dashboard: Which Metrics are Lame & Which are Awesome
- 1. AMA Symposium for The Marketing of Higher Education The Digital Marketing Dashboard: Which Metrics are Lame & Which are Awesome #HigherEdMetrics #AMAHigherEd McCormick | CONFIDENTIAL | Page 1 | 11/5/2013
- 2. Loyola University Maryland | Graduate Studies 2 | CONFIDENTIAL | R2integrated #HigherEdMetrics #AMAHigherEd 2 2
- 4. Tracking & The Non-Linear Path The Omni-Channel Funnel 4 | CONFIDENTIAL | R2integrated #HigherEdMetrics #AMAHigherEd 4 4
- 5. Understanding What You Should & Should Not Track 5
- 6. Simplify Your Relationship with Data 6 | CONFIDENTIAL | R2integrated #HigherEdMetrics #AMAHigherEd 6 6
- 7. 7 | CONFIDENTIAL | R2integrated #HigherEdMetrics #AMAHigherEd 7 7
- 8. Vanity Metrics 8 | CONFIDENTIAL | R2integrated #HigherEdMetrics #AMAHigherEd 8 8
- 9. The Monet of Metrics 9 | CONFIDENTIAL | R2integrated #HigherEdMetrics #AMAHigherEd 9 9
- 10. Fans Aren’t Metrics 10 | CONFIDENTIAL | R2integrated #HigherEdMetrics #AMAHigherEd 10 10
- 11. The Real Value of Click Metrics 11 | CONFIDENTIAL | R2integrated #HigherEdMetrics #AMAHigherEd 11 11
- 12. Create A Story 12 | CONFIDENTIAL | R2integrated #HigherEdMetrics #AMAHigherEd 12 12
- 13. Depict Results 13 | CONFIDENTIAL | R2integrated #HigherEdMetrics #AMAHigherEd 13 13
- 14. Content Analytics 14 | CONFIDENTIAL | R2integrated #HigherEdMetrics #AMAHigherEd 14 14
- 15. Landing Page Performance Conversions & Engagements Sept 2012-Dec 2012 See definite decline in engagement for content that falls below the fold (in comparison to like content that is just above) Part-Time MBA has significantly higher engagement than other program areas 2,442 clicks 411 CLICKS RSVP for an Info Session draws the highest level of engagement overall 436 clicks 15 | CONFIDENTIAL | R2integrated 1,687 clicks 873 clicks #HigherEdMetrics #AMAHigherEd 15 15
- 16. Funnel-Driven Analytics Visitors 16 | CONFIDENTIAL | R2integrated Inquiries #HigherEdMetrics #AMAHigherEd 16 16
- 17. Path To Conversion 17 | CONFIDENTIAL | R2integrated #HigherEdMetrics #AMAHigherEd 17 17
- 18. Path To Conversion 18 | CONFIDENTIAL | R2integrated #HigherEdMetrics #AMAHigherEd 18 18
- 19. Path To Conversion 19 | CONFIDENTIAL | R2integrated #HigherEdMetrics #AMAHigherEd 19 19
- 20. Path To Conversion 150 different paths to conversion 690 (25%) of them with more than one interaction 20 | CONFIDENTIAL | R2integrated #HigherEdMetrics #AMAHigherEd 20 20
- 21. Omni-Channel Analytics 21 | CONFIDENTIAL | R2integrated #HigherEdMetrics #AMAHigherEd 21 21
- 22. Omni-Channel View Online: Paid Search $160,000 Online: Paid Display Offline: Radio Offline: TV: LP… 250 $140,000 200 $120,000 $100,000 150 $80,000 $60,000 100 $40,000 50 $20,000 $0 22 | CONFIDENTIAL | R2integrated 0 #HigherEdMetrics #AMAHigherEd 22 22
- 23. Omni-Channel Conversions 23 | CONFIDENTIAL | R2integrated #HigherEdMetrics #AMAHigherEd 23 23
- 24. Omni-Channel Planning $70,000 $60,000 $50,000 Lead Gen: Paid Display $40,000 Lead Gen: Paid Search Awareness: TV Awareness: Billboard $30,000 Awareness: Radio Awareness: Paid Search $20,000 $10,000 $0 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 24 | CONFIDENTIAL | R2integrated #HigherEdMetrics #AMAHigherEd 24 24
- 25. Visual Analytics Dashboards 25 | CONFIDENTIAL | R2integrated #HigherEdMetrics #AMAHigherEd 25 25
- 26. 26 | CONFIDENTIAL | R2integrated #HigherEdMetrics #AMAHigherEd 26 26
- 27. 27 | CONFIDENTIAL | R2integrated #HigherEdMetrics #AMAHigherEd 27 27
- 28. 28 | CONFIDENTIAL | R2integrated #HigherEdMetrics #AMAHigherEd 28 28
- 29. 29 | CONFIDENTIAL | R2integrated #HigherEdMetrics #AMAHigherEd 29 29
- 30. Eric Jones Sharon Higgins VP, Digital Marketing AVP Marketing & Communications R2integrated @r2integrated Loyola University Maryland @LoyolaMBA ejones@r2integrated.com sbhiggins@loyola.edu 30 | CONFIDENTIAL | R2integrated #HigherEdMetrics #AMAHigherEd 30 30
Editor's Notes
- LUMD situational analysis
- According to a Lenskold Group study, 44% of marketers have no idea what a 10% budget increase or decrease would do for their organizations. Omni-channel marketing is making the funnel to purchase so complicated that marketers can no longer rely on simply tracking a linear path. Today’s journey is more like an infinite loop where buyers need to constantly discover and be reminded of you via multiple channels. Equally important is the demand to continually engage these buyers throughout the funnel to move toward acquisition. What will the budget investment achieve?Omni-channel marketing complicates funnel to purchaseLinear customer paths are not reliableCustomer lifecycle is infinite loopContinuous engagement to achieve acquisition
- For marketing departments to gain respect in any organization they need to be able to answer the question, “What do you expect will happen in exchange for this money you want to spend?” The job of any metric that you track should be to simplify your relationship with the data and inform an action. Defining the metrics that you should and should not track, and more importantly, identifying the metrics that you need to track, will enable you to make decisions that will improve your returns.Big Data is what marketers are drawn to because it is the immediate view of all channels, all activity, all conversions and all audiences. Drill down into the small data sets that matter and that tell a story and can inform an action.
- BOOM – big numbers – compared to much smaller numbers.
- I wanted to point the above out purely because of a common feature of 80% of Web Analytics Dashboards, in excel with a billion tabs to look through. This is not a dashboard, it is the result of a massive sum of money spend on someone who is trying to impress you with his / her excel skills – without actually telling you anythingCan’t look at it and say wow we need to do X.
- Numbers without a story are meaningless. How many have clients or bosses who have demanded We need fill in arbitrarily large number of Facebook fans!Shares, likes, RTs, comments, etc. aren’t biz metrics either Could be called “transactional precursors”To track your digital marketing , your approach to digital marketing needs to be architected strategicallyWhat are you trying to accomplish? What are your business objectives Increase fans or website visits or sales? how will you gauge success?How many of you like hugs? I like Hugs – they make me feel good. So from here on out – lets measure hugs as a way to show how good I feel.
- Click Metrics: Awesome or Lame?CTRs on their own do not tell a storyLook at the results of the click-thruvisitorsDid they engage?Did they bounce?Historically, paid media and search have both reported on clicks/click-thru rate (CTR) and been used to show improving or declining rates as an important indicator of success. Marketers should review CTR but more importantly, look at the results of those visits—did the visit generate an engaged visitor or an early exit?
- Telling a story
- Telling a story
- Utilizing content-driven metrics is useful to gauge the health of your site and the content that is available to continually engage your audience. Knowing when and how to use the right metrics to evaluate content is key when trying to figure out what changes to make or to determine if the changes made have been successful. A couple core metrics that can help to evaluate content are:Pages per visit: Defined as the value and depth that someone finds in your site; this is useful periodically based on a specific channel (organic search, media, paid search, social, etc.) and can provide insight around what content is effective from each channel.Bounce rate: Defined as the time visitors spend digesting your content; this is specifically useful when reviewing a specific piece of content or a landing page, however this metric is not useful when looking at site wide metrics. Pages per visit: Defined as the value and depth that someone finds in your site; useful periodically based on a specific channel and can provide insight around what content is effective from each channelBounce rate: Defined as the time visitors spend digesting your content; specifically useful when reviewing a specific piece of content or a landing page, not useful when looking at site wide metricsMetric 3Metric 4
- Since the linear funnel rarely exists for marketers any longer, it is important to define the metrics that support the drive for engagement and conversion at every stage. Previously reviewed content analytics no longer matter as much as the holistic engagement rate of visits by a source and how far down the funnel a prospect gets. The new sales funnel is an infinite loop that can be understood by closely reviewing navigation paths and sources to better understand the multi-channel funnel or attribution model that contributes to lead generation.
- The purpose of an omni-channel analytics dashboard is to answer the question every marketer is asked over and over: “How are we performing?” Often marketers get confused with the difference between data capture, data reporting and data analysis, which can make defining success challenging. When asked the performance question, marketers should already know how they define success and then answer based on that definition. An analytics dashboard that layers various data points into a comprehensive visual format is useful to show trends, communicate activity, and represent performance across all channels of activity. It is equally important to combine offline and online marketing metrics and activity to create a comprehensive view. How you track and represent that data is important to be able to confidently answer the ever-present question, “How are we performing?”
- The purpose of an omni-channel analytics dashboard is to answer the question every marketer is asked over and over: “How are we performing?” Often marketers get confused with the difference between data capture, data reporting and data analysis, which can make defining success challenging. When asked the performance question, marketers should already know how they define success and then answer based on that definition. An analytics dashboard that layers various data points into a comprehensive visual format is useful to show trends, communicate activity, and represent performance across all channels of activity. It is equally important to combine offline and online marketing metrics and activity to create a comprehensive view. How you track and represent that data is important to be able to confidently answer the ever-present question, “How are we performing?”
- The purpose of an omni-channel analytics dashboard is to answer the question every marketer is asked over and over: “How are we performing?” Often marketers get confused with the difference between data capture, data reporting and data analysis, which can make defining success challenging. When asked the performance question, marketers should already know how they define success and then answer based on that definition. An analytics dashboard that layers various data points into a comprehensive visual format is useful to show trends, communicate activity, and represent performance across all channels of activity. It is equally important to combine offline and online marketing metrics and activity to create a comprehensive view. How you track and represent that data is important to be able to confidently answer the ever-present question, “How are we performing?”