Which Data Variables Count When Measuring Return On Marketing Investment? | Anton Buchner, TrinityP3 | Digital Espresso Breakfast Melbourne 2016
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Presentation by: Anton Buchner, Sr Marketing Consultant, TrinityP3 Companies have adopted the digital fundamentals, but what’s next? How do we unlock the latest and greatest when it comes to digital technologies, programmatic ad platforms and taking marketing to the next level? Digital Espresso Breakfast is an event dedicated to innovations across data, digital and programmatic marketing, brought to you by Benchmarketing. Visit www.benchmarketing.com.au for more info.
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Which Data Variables Count When Measuring Return On Marketing Investment? | Anton Buchner, TrinityP3 | Digital Espresso Breakfast Melbourne 2016
- 2. Senior Marketing Consultant, Trinity P3 Anton has worked with some of the largest global and local clients to assess technology stacks, platforms, deployment and management systems, data warehouses, data flows, digital marketing & media activity, as well as reporting and optimisation processes, including: AMEX, Optus, Virgin Mobile, Fairfax, Lexus, Honda, Microsoft, Nestle, Campari, P&G, VW and Westpac to name a few. ANTON BUCHNER
- 5. This morning is for you… You 1. Tech, data & buzzword BS explosion 2. Watch outs for marketers 3. KPIs that matter most marketing management consultants
- 6. The tech space is all the rage Microsoft buys LI for $26.2b in June 2016 marketing management consultants
- 7. The explosion of choice for marketers marketing management consultants 3,874 solutions (up from 115 in 2011)
- 8. The digital big bang marketing management consultants
- 9. Terminology – what do you mean by… • Customer centricity • Mobile at the core • Programmatic • Data-driven • Big data • Geo targeting • Promoted posts • Marketing automation • Influencer marketing • Collaborative filtering marketing management consultants
- 10. So what does all this mean for you? marketing management consultants
- 11. 6 macro forces Cost V value Strategic v agile Competing interests & ego Marketing technology stack logic Security Digital maturity transformation marketing management consultants
- 12. Where are you on the maturity curve? Manual process Basic cross system connection Architecture established Business rules adopted Optimization strategies Limited IT infrastructure Basic architecture established Service governance established Managed measurement Profiling, monitoring and visualising data Disparate systems Data standards, roles, ownership Social and CRM targeting Data quality as BAU ROI as part of BAU No data roles and governance Data analysis Insights generated Media attribution Blue sky 10% testing Reactive Proactive AdvancedPreventative marketing management consultants
- 13. What are KPIs? marketing management consultants
- 14. What are KPIs? Business objectives are one thing … • Marketing objectives are to deliver on the business objectives (i.e. enter a market and capture X% market share). Think: FROM / TO. • Goals are what you need to do in order to achieve your objectives (ie: to sell more we need to improve our product benefits, improve conversion rates, etc. Goals should reflect specific strategies. • Key performance indicators (KPIs) are the measurable value that demonstrates how effectively a company is achieving its business objectives. They are metrics used to measure performance. marketing management consultants
- 15. Performance Criteria Business Performance • Sales Volume • Volume Growth • Relative Brand Performance • Composite Performance • Market/brand share • Customer loyalty • Brand equity • Brand profitability Advertising Performance • Advertising Awareness • Brand Image Shifts • Attitude Ratings • Ad enjoyment • Brand personality • Predisposition to buy • Ad scores • Persuasion index • Digital activity • Traffic • Engagement • +/- conversation • Links – good/bad Agency Performance • Agency Service delivery* • Relationship Management* • Functional competencies* • Contribution to ‘branding’ • Project management* • Administration* • Cost Efficiency* • Pro-activity* • Collaboration* * Can be measured, managed and maximised using Evalu8ing. Find out more at www.evalu8ing.com marketing management consultants
- 16. Think across the human journey Reach Engagement Sales Database Advocacy Staff networks Site traffic Lead nurturing Opt ins NPS Media Content views / shares Conversion rate Social engagement Segment shifts Content shares Social engagement Retail Email / Loyalty OR / CTR Ratings / reviews PR value Media attribution Sales & growth App usage Shares Staff Management Discover Delve Buy Learn Advocate marketing management consultants
- 17. Any further questions? marketing management consultants
Editor's Notes
- Fyi http://www.bloomberg.com/news/features/2016-08-18/uber-s-first-self-driving-fleet-arrives-in-pittsburgh-this-month-is06r7on https://techcrunch.com/2016/07/22/7-eleven-delivers-by-drone-in-reno-including-yes-slurpees/
- This stat is now over 2 years old. When we had 2.8 zettabytes (or 1.8 trillion gigabytes) To put 1 ZB into perspective, if a coffee = about one GB Then a ZB = the same volume as the great wall of China! In 2015 we were around 8 ZB of global data And tipped to be 40 ZB by 2020
- Exercise: whiteboard any other terms. Get participants to draft a list of terms relevant to PMI. Then do an agreed definition for each one for PMI. Of list is too long can do just 3 or 4 so the get the gist and then provide them the list as an action to complete after the workshop
- Cost versus value: how are you measuring value of digital marketing versus cost?? Do you have a strategy and guiding roadmap that unites all activity, versus blindly being agile and doing lots of disparate activity? Does the martech stack make sense through the customer journey or is it just an ecosystem of disparate technologies that are each being used in isolation? Security and breaches are becoming one of the biggest topics in digital circles as more and more focus moves to data, databases and customer information. Do you own the IP on your websites? Ownership of programming code is a tricky area contractually and, from a business risk perspective, one you and your legal counsel should look into for the sake of your stakeholders. This can be more intricate when your company’s marketing efforts cover domains in several countries. How prepared are you for the data deluge. Have you mapped out a digital maturity curve? Have you set a plan for how the data will be utilised for marketing? And how it will tell a story? How are resources & capability aligned (internally and externally) to deliver on the strategy. And if there’s a strategy what are the KPIs and how is everyone remunerated?
- Identify where currently sit and what path you are on, before looking to extrenal providers to fill capability gaps