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The Art of the Marketing Scorecard Webcast by BECKON

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Let your data do the talking. Join Beckon CEO Jennifer Zeszut for a rare peek at the inner workings of omnichannel marketing scorecard design, and learn how to use marketing scorecards to tell the story of marketing performance.

Published in: Marketing

The Art of the Marketing Scorecard Webcast by BECKON

  1. 1. Jennifer Zeszut CEO and CMO Beckon jennifer@beckon.com @jenniferland @jenniferland @BeckonInc #marketing #scorecards
  2. 2. Finance Baby Marketing Baby
  3. 3. MARKETING DATA IS MESSY DATA
  4. 4. MARKETING DATA IS MESSY DATA
  5. 5. MARKETING DATA IS MESSY DATA
  6. 6. MARKETING DATA IS MESSY DATA
  7. 7. MARKETING DATA IS MESSY DATA
  8. 8. MARKETING DATA IS MESSY DATA
  9. 9. MARKETING DATA IS MESSY DATA
  10. 10. MARKETING DATA IS MESSY DATA
  11. 11. Meet Beckon. @jenniferland @BeckonInc #marketing #scorecards
  12. 12. Meet Beckon. MARKETING SPEND, ACTIVITY, ROI BRAND OUTCOMES BUSINESS OUTCOMES @jenniferland @BeckonInc #marketing #scorecards
  13. 13. Meet Beckon. MARKETING SPEND, ACTIVITY, ROI BRAND OUTCOMES BUSINESS OUTCOMES •  AUTOMATED DATA INGESTION AND TRANSFORMATION (ETL) •  NORMALIZED KPI AND METRIC DEFINITIONS •  CONSISTENT TAXONOMY AND TAGGING STRUCTURE UNITED MARKETING PERFORMANCE DATA HUB @jenniferland @BeckonInc #marketing #scorecards
  14. 14. Meet Beckon. MARKETING SPEND, ACTIVITY, ROI BRAND OUTCOMES BUSINESS OUTCOMES @jenniferland @BeckonInc #marketing #scorecards •  AUTOMATED DATA INGESTION AND TRANSFORMATION (ETL) •  NORMALIZED KPI AND METRIC DEFINITIONS •  CONSISTENT TAXONOMY AND TAGGING STRUCTURE UNITED MARKETING PERFORMANCE DATA HUB
  15. 15. Meet Beckon. MARKETING SPEND, ACTIVITY, ROI BRAND OUTCOMES BUSINESS OUTCOMES OTHER DASHBOARDS, MIX MODELS, ANALYSIS TOOLS, DATA WAREHOUSES @jenniferland @BeckonInc #marketing #scorecards •  AUTOMATED DATA INGESTION AND TRANSFORMATION (ETL) •  NORMALIZED KPI AND METRIC DEFINITIONS •  CONSISTENT TAXONOMY AND TAGGING STRUCTURE UNITED MARKETING PERFORMANCE DATA HUB
  16. 16. Democratize the data @jenniferland @BeckonInc #marketing #scorecards
  17. 17. Continuously updated marketing dashboards @jenniferland @BeckonInc #marketing #scorecards
  18. 18. @jenniferland @BeckonInc #marketing #scorecards Continuously updated marketing scorecards
  19. 19. DO YOU KNOW WHAT’S WORKING? @jenniferland @BeckonInc #marketing #scorecards
  20. 20. DO YOU KNOW WHAT’S WORKING? Helping brands understand and beautifully communicate the business impact of everything that marketing does @jenniferland @BeckonInc #marketing #scorecards
  21. 21. Partner to savvy CMOs everywhere @jenniferland @BeckonInc #marketing #scorecards
  22. 22. In this session… •  Scorecards defined •  History •  Benefits •  Scorecard design frameworks •  Pro tips •  Build your own… 23 23
  23. 23. Resources for you…
  24. 24. 1. A copy of this presentation @jenniferland @BeckonInc #marketing #scorecards
  25. 25. BECKON SCORECARD BUILDER OBJECTIVEKPIMETRICS DEFINITIONS: Objective: Key marketing or business objective to be monitored or evaluated. Can be organized into a linear process (e.g., Buyers Journey) or a theme (e.g., Annual Marketing Goals or Campaign Performance). Tip: State key marketing or business objectives in the form of a question. Key Performance Indicator (KPI): The one metric that best describes the performance of the objective in question. Metrics: The set of performance measures by which an objective is evaluated. Types include: • Top-level Metrics: Return on marketing objectives (ROMO) and return on marketing investment (marketing ROI) • Volume Metrics: Impression and engagement volume, total sales and other outcomes. • Effectiveness Metrics: Awareness, engagement, engagement rate, outcome, and conversion rate. • Efficiency Metrics: Cost per impression, cost per engagement and cost per outcome. Beckon Proprietary and Confidential. Contact sales@beckon.com for more information. 2. Build-Your-Own Performance Scorecard Worksheet
  26. 26. 3. A Sample Marketing Performance Scorecard
  27. 27. BECKON MARKETING DATA FRAMEWORK OBJECTIVESMETRICS/KPIS DATAREPORTING CATEGORIES DATASOURCES &CHANNELS ONLINE OFFLINE MARKETING ACTIVITIES OUTCOMES BRAND BUSINESS BUSINESS MARKETING CAMPAIGN CHANNEL BUYER’S JOURNEY STRATEGIC METRICS (all-channel, CMO level) TOP-DOWN ANALYTICS Start with a goal, then find the data. • Scorecards • Dashboards BOTTOM-UP ANALYTICS Start with data, then find the insights. • Ad-hoc analysis • Auto correlation • Variances VOLUME (COUNTS) EFFECTIVENESS (RATIOS) EFFICIENCY ($) AGGREGATED METRICS (multi-channel, manager level) ACTIVITY METRICS (single-channel, tactician level) • Total new customers • Total sales • NPS • Net sentiment • Engagement/Impressions ratio • Paid/Earned ratio • Aided awareness • Share of voice • ROMI • ROMO • Cost per new customer • Cost per point of awareness • Impressions by campaign • Engagement by channel • Sales by region • GRPs by DMA • E/I ratio by campaign • P/E ratio by channel • Engagement rate by agency • Likes per post by channel • Cost per impression by campaign • Cost per engagement by channel • ROMI per business unit • Sales per square foot by region • Visits • Clicks • Likes • Sends • Click-through rate • Conversion rate • Open rate • Cart abandonment rate • Cost per click • Cost per thousand • Cost per point • Cost per attendee MARKETING • Funnel • P/O/E • Channel • Campaign BUSINESS • Product • Industry • Region • Competition ORGANIZATIONAL • Business unit • Department • Owner • Agency CUSTOMER • Segmentation • Type (new, old) • Demographics EXECUTION • Placement • Creative • Offer • Test/Control Beckon Proprietary and Confidential. Contact sales@beckon.com for more information. D isplay Em ailW ebsite E-com m erce M obile A pp SEO SEMFacebook Tw itterListeningLinkedIn V ideo TV R adio Print O O H D irectM ail PR Events SponsorshipC inem aIn-Store R etail C allC enter B randC ustom er C om petitive Sales E-com m erce C R M 4. The Marketing KPI Framework
  28. 28. 5. Marketing Scorecard Best Practices Whitepaper
  29. 29. Scorecard roots run deep… @jenniferland @BeckonInc #marketing #scorecards
  30. 30. @jenniferland @BeckonInc #marketing #scorecards
  31. 31. 1960s: The Balanced Scorecard @jenniferland @BeckonInc #marketing #scorecards
  32. 32. 1980-1990s: Six Sigma @jenniferland @BeckonInc #marketing #scorecards
  33. 33. What is a marketing scorecard?
  34. 34. An information-dense way of reporting metrics A nice visualization of data
  35. 35. Don’t let the pretty pictures fool you
  36. 36. A marketing scorecard @jenniferland @BeckonInc #marketing #scorecards
  37. 37. A marketing scorecard 1.  A data-driven marketing performance measurement system that aligns marketing activities to business strategy and allows teams to monitor and improve their marketing over time. @jenniferland @BeckonInc #marketing #scorecards
  38. 38. A marketing scorecard 1.  A data-driven marketing performance measurement system that aligns marketing activities to business strategy and allows teams to monitor and improve their marketing over time. 2.  A powerful storytelling vehicle for marketing’s success @jenniferland @BeckonInc #marketing #scorecards
  39. 39. Is a scorecard the same as a dashboard? @jenniferland @BeckonInc #marketing #scorecards DASHBOARDS • Events and trends as they happen SCORECARDS • Progress towards objectives
  40. 40. Is a scorecard the same as a dashboard? @jenniferland @BeckonInc #marketing #scorecards DASHBOARDS • Events and trends as they happen SCORECARDS • Progress towards objectives • What’s happening • How well you're doing
  41. 41. The hallmarks of a good marketing scorecard •  Binds tactical metrics to a strategic framework. •  Reports performance against pre-specified criteria. •  Provides context to the data. •  Are continuously updated. •  Lets you drill down into the detail. @jenniferland @BeckonInc #marketing #scorecards
  42. 42. 1. Bind tactical metrics to a strategic framework. @jenniferland @BeckonInc #marketing #scorecards
  43. 43. CTR views pins down- loads friends TRPs clicks MQLs likes views re- tweets fans visits SQLs Impre- ssions GRPs opens 1. Bind tactical metrics to a strategic framework. @jenniferland @BeckonInc #marketing #scorecards
  44. 44. CTR views pins down- loads friends TRPs clicks re- tweets fans visits SQLs Impre- ssions 1. Bind tactical metrics to a strategic framework. INCREASE AWARENESS @jenniferland @BeckonInc #marketing #scorecards
  45. 45. friends clicks re- tweets fans visits SQLs Impre- ssions 1. Bind tactical metrics to a strategic framework. INCREASE AWARENESS DRIVE SALES @jenniferland @BeckonInc #marketing #scorecards
  46. 46. 2. Report performance against pre- specified criteria. @jenniferland @BeckonInc #marketing #scorecards
  47. 47. 2. Report performance against pre- specified criteria. @jenniferland @BeckonInc #marketing #scorecards THE MARKETING PERFORMANCE CURSE: SELECTING PERFORMANCE KPIS AFTER THE MARKETING EFFORT
  48. 48. 2. Report performance against pre- specified criteria. THE MARKETING PERFORMANCE CURSE: SELECTING PERFORMANCE KPIS AFTER THE MARKETING EFFORT @jenniferland @BeckonInc #marketing #scorecards
  49. 49. 2. Report performance against pre- specified criteria. Everyone should should know, upfront, the criteria by which they will be judged. ü  Consistent campaign scorecard ü  Consistent brand/product scorecard ü  Consistent market/country scorecard @jenniferland @BeckonInc #marketing #scorecards
  50. 50. 3. Provide context to the data. @jenniferland @BeckonInc #marketing #scorecards
  51. 51. 3. Provide context to the data. 10,000 followers! @jenniferland @BeckonInc #marketing #scorecards
  52. 52. 3. Provide context to the data. 10,000 followers! SO WHAT? Is that good or bad? @jenniferland @BeckonInc #marketing #scorecards
  53. 53. 3. Provide context to the data. 55@jenniferland @BeckonInc #marketing #scorecards
  54. 54. 3. Provide context to the data. Current period performance versus previous period performance PLANNED VERSUS ACTUAL TREND INTERNAL BENCHMARKING Performance versus a comparable effort with similar scope and objectives How are we tracking to where we planned to be? EXTERNAL BENCHMARKING Performance versus industry averages or norms Performance versus the same period last year HISTORICAL TREND (YOY) 56@jenniferland @BeckonInc #marketing #scorecards
  55. 55. 4. Is continuously updated. Process or Automation @jenniferland @BeckonInc #marketing #scorecards
  56. 56. 5. Lets you drill down into the detail. @jenniferland @BeckonInc #marketing #scorecards
  57. 57. The elements of a scorecard @jenniferland @BeckonInc #marketing #scorecards
  58. 58. Objectives: A key marketing or business goal that you want to monitor and evaluate Remember to make them SMART: Specific Measureable Attainable Realistic Timely @jenniferland @BeckonInc #marketing #scorecards
  59. 59. KPIs: key measurements that best answer the questions you must ask in order to drive your objectives. KPIs are often derived—they are aggregate counts or ratios of two or more underlying metrics. @jenniferland @BeckonInc #marketing #scorecards
  60. 60. Metrics: the set of performance measures by which you’ll monitor and evaluate how well you’re meeting your objectives. Proper Scope: Activity, Aggregated, Strategic Proper Type: Volume, Effectiveness, Efficiency Do I have the data? •  Yes – ensure it has the proper Reporting Categorization •  No – how can I collect it? @jenniferland @BeckonInc #marketing #scorecards
  61. 61. What KPIs and metrics matter? @jenniferland @BeckonInc #marketing #scorecards
  62. 62. What’s the right scorecard for you? BECKON SCORECARD BUILDER OBJECTIVE KPI METRICS DEFINITIONS: Objective: Key marketing or business objective to be monitored or evaluated. Can be organized into a linear process (e.g., Buyers Journey) or a theme (e.g., Annual Marketing Goals or Campaign Performance). Tip: State key marketing or business objectives in the form of a question. Key Performance Indicator (KPI): The one metric that best describes the performance of the objective in question. Metrics: The set of performance measures by which an objective is evaluated. Types include: • Top-level Metrics: Return on marketing objectives (ROMO) and return on marketing investment (marketing ROI) • Volume Metrics: Impression and engagement volume, total sales and other outcomes. • Effectiveness Metrics: Awareness, engagement, engagement rate, outcome, and conversion rate. • Efficiency Metrics: Cost per impression, cost per engagement and cost per outcome. Beckon Proprietary and Confidential. Contact sales@beckon.com for more information. @jenniferland @BeckonInc #marketing #scorecards
  63. 63. Options for structuring your omnichannel marketing scorecard •  By the buyer’s journey •  By business objective •  By key campaigns •  By marketing objective •  By marketing channel •  All of the above @jenniferland @BeckonInc #marketing #scorecards
  64. 64. By marketing channel @jenniferland @BeckonInc #marketing #scorecards
  65. 65. By marketing channel @jenniferland @BeckonInc #marketing #scorecards
  66. 66. @jenniferland @BeckonInc #marketing #scorecards By buyer’s journey
  67. 67. Pro tip: Build one master scorecard and toggle scopes @jenniferland @BeckonInc #marketing #scorecards
  68. 68. Pro tip: Build one master scorecard and toggle scopes @jenniferland @BeckonInc #marketing #scorecards
  69. 69. Pro tip: Build one master scorecard and toggle scopes @jenniferland @BeckonInc #marketing #scorecards
  70. 70. Pro tip: Build one master scorecard and toggle scopes @jenniferland @BeckonInc #marketing #scorecards
  71. 71. By business objective @jenniferland @BeckonInc #marketing #scorecards
  72. 72. By marketing objective @jenniferland @BeckonInc #marketing #scorecards
  73. 73. By key campaigns @jenniferland @BeckonInc #marketing #scorecards
  74. 74. Where to start: deep or wide?Brand1 Brand2 Brand3 … KPI KPI KPI KPI KPI KPI KPI … @jenniferland @BeckonInc #marketing #scorecards
  75. 75. Where to start: deep or wide?US Canada France Spain… KPI KPI KPI KPI KPI KPI KPI … @jenniferland @BeckonInc #marketing #scorecards
  76. 76. Focused and deepUS Canada France Spain… KPI KPI KPI KPI KPI KPI KPI … @jenniferland @BeckonInc #marketing #scorecards
  77. 77. Wide but shallowUS Canada France Spain… KPI KPI KPI KPI KPI KPI KPI … @jenniferland @BeckonInc #marketing #scorecards
  78. 78. Do both if you canUS Canada France Spain… KPI KPI KPI KPI KPI KPI KPI … @jenniferland @BeckonInc #marketing #scorecards
  79. 79. 4 key takeaways @jenniferland @BeckonInc #marketing #scorecards
  80. 80. 4 key takeaways •  A marketing scorecard is not a pretty picture; it is a data- driven performance measurement system that enables team alignment and performance optimization. @jenniferland @BeckonInc #marketing #scorecards
  81. 81. 4 key takeaways •  A marketing scorecard is not a pretty picture; it is a data- driven performance measurement system that enables team alignment and performance optimization. •  Consider structuring yours around a buyer’s journey framework or other integrated set of objectives. (Avoid a channel-specific scorecard.) @jenniferland @BeckonInc #marketing #scorecards
  82. 82. 4 key takeaways •  A marketing scorecard is not a pretty picture; it is a data- driven performance measurement system that enables team alignment and performance optimization. •  Consider structuring yours around a buyer’s journey framework or other integrated set of objectives. (Avoid a channel-specific scorecard.) •  Make sure you have a plan for continuously updated data (by way of either automation or processes). @jenniferland @BeckonInc #marketing #scorecards
  83. 83. 4 key takeaways •  A marketing scorecard is not a pretty picture; it is a data- driven performance measurement system that enables team alignment and performance optimization. •  Consider structuring yours around a buyer’s journey framework or other integrated set of objectives. (Avoid a channel-specific scorecard.) •  Make sure you have a plan for continuously updated data (by way of either automation or processes). •  Be prepared for your scorecard to travel far and wide. Put your best foot forward. @jenniferland @BeckonInc #marketing #scorecards
  84. 84. If you do this right… @jenniferland @BeckonInc #marketing #scorecards
  85. 85. If you do this right… @jenniferland @BeckonInc #marketing #scorecards
  86. 86. 1. A copy of this presentation @jenniferland @BeckonInc #marketing #scorecards
  87. 87. BECKON SCORECARD BUILDER OBJECTIVEKPIMETRICS DEFINITIONS: Objective: Key marketing or business objective to be monitored or evaluated. Can be organized into a linear process (e.g., Buyers Journey) or a theme (e.g., Annual Marketing Goals or Campaign Performance). Tip: State key marketing or business objectives in the form of a question. Key Performance Indicator (KPI): The one metric that best describes the performance of the objective in question. Metrics: The set of performance measures by which an objective is evaluated. Types include: • Top-level Metrics: Return on marketing objectives (ROMO) and return on marketing investment (marketing ROI) • Volume Metrics: Impression and engagement volume, total sales and other outcomes. • Effectiveness Metrics: Awareness, engagement, engagement rate, outcome, and conversion rate. • Efficiency Metrics: Cost per impression, cost per engagement and cost per outcome. Beckon Proprietary and Confidential. Contact sales@beckon.com for more information. 2. Build-Your-Own Performance Scorecard Worksheet
  88. 88. 3. A Sample Marketing Performance Scorecard
  89. 89. BECKON MARKETING DATA FRAMEWORK OBJECTIVESMETRICS/KPIS DATAREPORTING CATEGORIES DATASOURCES &CHANNELS ONLINE OFFLINE MARKETING ACTIVITIES OUTCOMES BRAND BUSINESS BUSINESS MARKETING CAMPAIGN CHANNEL BUYER’S JOURNEY STRATEGIC METRICS (all-channel, CMO level) TOP-DOWN ANALYTICS Start with a goal, then find the data. • Scorecards • Dashboards BOTTOM-UP ANALYTICS Start with data, then find the insights. • Ad-hoc analysis • Auto correlation • Variances VOLUME (COUNTS) EFFECTIVENESS (RATIOS) EFFICIENCY ($) AGGREGATED METRICS (multi-channel, manager level) ACTIVITY METRICS (single-channel, tactician level) • Total new customers • Total sales • NPS • Net sentiment • Engagement/Impressions ratio • Paid/Earned ratio • Aided awareness • Share of voice • ROMI • ROMO • Cost per new customer • Cost per point of awareness • Impressions by campaign • Engagement by channel • Sales by region • GRPs by DMA • E/I ratio by campaign • P/E ratio by channel • Engagement rate by agency • Likes per post by channel • Cost per impression by campaign • Cost per engagement by channel • ROMI per business unit • Sales per square foot by region • Visits • Clicks • Likes • Sends • Click-through rate • Conversion rate • Open rate • Cart abandonment rate • Cost per click • Cost per thousand • Cost per point • Cost per attendee MARKETING • Funnel • P/O/E • Channel • Campaign BUSINESS • Product • Industry • Region • Competition ORGANIZATIONAL • Business unit • Department • Owner • Agency CUSTOMER • Segmentation • Type (new, old) • Demographics EXECUTION • Placement • Creative • Offer • Test/Control Beckon Proprietary and Confidential. Contact sales@beckon.com for more information. D isplay Em ailW ebsite E-com m erce M obile A pp SEO SEMFacebook Tw itterListeningLinkedIn V ideo TV R adio Print O O H D irectM ail PR Events SponsorshipC inem aIn-Store R etail C allC enter B randC ustom er C om petitive Sales E-com m erce C R M 4. The Marketing KPI Framework
  90. 90. 5. Marketing Scorecard Best Practices Whitepaper
  91. 91. Jennifer Zeszut CEO and CMO Beckon jennifer@beckon.com @jenniferland sales@beckon.com QUESTIONS? @jenniferland @BeckonInc #marketing #scorecards
  92. 92. Thank You! @jenniferland @BeckonInc #marketing #scorecards

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