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Time Your Marketing Mix


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Using a framework developed by Tim Wilson I discuss how to best time your marketing mix based on multi touch marketing attribution data.

Published in: Marketing
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Time Your Marketing Mix

  1. 1. Time Your Marketing Mix Maximize Return using Attribution and Reservation Data Time Your Marketing Mix @electricmice #eftanalytics
  2. 2. Justin Goodman Marketing Analyst – Internet Marketing Inc. Google Analytics and Adwords Individual Qualification 10+ Years in Internet Marketing Forbes Contributor Blogs Featured on SEOMoz Speaker at Digital World Expo, Dallas Digital Summit & IABC San Diego Lectured at Emory University on Web Analytics DAA Member Time Your Marketing Mix @electricmice #eftanalytics
  3. 3. Analytics Helps to Answer Two Questions •What are we trying to achieve? •How do we know if we’ve done that? Time Your Marketing Mix @electricmice #eftanalytics
  4. 4. All Decisions should include the following • I Believe that… • [some idea] • If I am right, I will… • [take some action] • To test this, I will… • [tool/technology/approach] Time Your Marketing Mix @electricmice #eftanalytics
  5. 5. The Idea • Starting with a simple hypothesis: • I believe that… • If we time our marketing mix properly, we will more effectively fill rooms Time Your Marketing Mix @electricmice #eftanalytics
  6. 6. Race against the Clock • Inventory Expires • Timing is crucial • Marketing Working with Revenue Manager Time Your Marketing Mix @electricmice #eftanalytics
  7. 7. Filling the Money Jar • Importance of Campaigns • Understanding Marketing Initiative Goals • • • • Drive Visits Drive engaged Visits Drive Booking Drive social sharing • Campaign Messaging in alignment with time and goals Time Your Marketing Mix @electricmice #eftanalytics
  8. 8. The Action • Sounds good, what does that actually mean? • If I am right I will… • Use Timing data to drive budget allocation and marketing channel selection to appropriately push marketing messaging Time Your Marketing Mix @electricmice #eftanalytics
  9. 9. The Tools/Technology/Approach - Data Collection • So, How do I know if I am right? Is it working? • Put a Time Stamp on All Marketing and Conversions • Marketing Analytics Technology – Convertro • Tag Campaigns Appropriate to Analytics Software • UTM and CVO Tagging – Google Analytics and Convertro • Track Booking and Arrival Date • Hotel Reservation System and Analytics Software • Track Reservation Value and additional details • Hotel Reservation System Time Your Marketing Mix @electricmice #eftanalytics
  10. 10. The Tools/Technology/Approach - Data Aggregation • Connect Marketing Data to Reservation Data to see the Big Picture • Collect Confirmation Number in both Marketing and Reservation System Database – Convertro/Reservation System • Combine All Data • Excel? Tableau? MySql? Time Your Marketing Mix @electricmice #eftanalytics
  11. 11. Connected Data Sample Time Your Marketing Mix @electricmice #eftanalytics
  12. 12. The Tools/Technology/Approach - Measuring Return • Identify Attribution Model • Algorithmic? • Even? • Rules Based? • Last Click? Time Your Marketing Mix @electricmice #eftanalytics
  13. 13. Understanding Time to Order Note: Understanding the attribution model is important to understanding the TTO. As the model changes so does the TTO Time Your Marketing Mix @electricmice #eftanalytics
  14. 14. What does the data Tell us? Building a Baseline • What marketing channels have the longest time from interaction to order • What channels and messages often act as influencers, introducers, closers? Time Your Marketing Mix @electricmice #eftanalytics
  15. 15. What Channels and Messages often act as influencers, introducers, closers • How much are affiliates really helping? • What is retargeting influencing? Time Your Marketing Mix @electricmice #eftanalytics
  16. 16. What does the data Tell us? Building a Baseline • What messaging was most effective? • Did it convert with less touches? • Did it reduce TTO? • Did special offers reduce the time to order? • What channel was most effective to reduce time to order? VS. Time Your Marketing Mix @electricmice #eftanalytics
  17. 17. Using The Data for Incremental Lift • Now that we know what worked or didn't based on historical data • Use baseline data to test against. Build out testing/marketing strategy • Example: • In 2013, when using retargeting we saw a decrease in TTO • Test retargeting messaging • Does including a promotional offer decrease TTO Further? • Non-Branded paid search was often an Introducer • Instead of pushing conversion will non-brand PPC be more helpful if the messaging is an emotional trigger? • Should non-brand PPC focus on research? Time Your Marketing Mix @electricmice #eftanalytics
  18. 18. Rinse and Repeat Time Your Marketing Mix @electricmice #eftanalytics
  19. 19. Questions will be taken during the panel or follow up with me later @ElectricMice Time Your Marketing Mix @electricmice #eftanalytics