Using competitive analysis to project your marketing budget
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Most CFO’s cringe when they see marketing budgets come across their desks. Unrealistic projections, off the wall ideas and limited accountability will put marketers into the dog-house with their financial overlords. It’s time for marketers to do better. It’s time for marketers to understand their CFO and give them something they can work with. It’s time to take a data-driven approach and start hearing “yes” more often. This session teaches attendees how to use the myriad competitive analysis tools available to marketers and use them to blow your CFO’s friggin mind. Join us as Jeff Sauer walks you through several practical tools and techniques that will allow you to start hearing yes more often.
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Using competitive analysis to project your marketing budget
- 1. Project your digital marketing budget for 2017 and beyond JeffSauer(@jeffalytics)
- 2. @jeffalytics Who wants to kill it in 2017?
- 3. We all do!
- 4. @jeffalytics But is that our reality?
- 5. Or are we fighting for budget scraps?
- 7. We need to get a bigger budget!
- 8. So we visit our finance department
- 9. And we ask really nicely
- 10. And finance is all like…
- 11. So we create what might be the best growth chart in the history of charts. Sooo perfect!
- 12. And finance drops the hammer
- 13. And we get super sad and might even cry
- 14. @jeffalytics That used to happen to this guy I know…
- 15. Until he finally got fed up with hearing no NO
- 17. @jeffalytics Want to start hearing “yes” more often?
- 18. @jeffalytics How to project value of increased marketing budgets Make a compelling argument for bigger budgets Using competitive data to build our own models What we can learn from competitive intelligence tools Today, we will discuss
- 19. View at www.jeffalytics.com Quick resource mention: Periodic Table of GA
- 21. First tool: Google Analytics
- 23. Check one box in your GA account This is done at an account level
- 24. Choose your industry vertical
- 25. Then set your location and website size
- 27. Story: Our earned media program is working
- 28. Story: Our email program is way behind Is email performing poorly or just not being tracked?
- 29. Story: We have no paid media, but others do We are not spending anything on advertising. Should we be?
- 30. Story: We have a missed mobile opportunity
- 31. Second Tool: SimilarWeb Pro
- 33. SimilarWeb Tool: http://www.similarweb.com/ Traffic source comparisons
- 34. @jeffalytics Good stories, but still many questions
- 37. • SimilarWeb Competitive Intelligence Tool: http://www.similarweb.com/ Specific individual website traffic rankings
- 38. Compare traffic to others
- 39. Understand overall traffic trends
- 40. Then start drilling into traffic sources
- 41. Who is investing in social?
- 42. Is anyone doing display?
- 43. What is your Audience Interested in?
- 44. Even do Mobile Comparisons!
- 46. SEMRush Tool: http://www.semrush.com/ SEMRush for Search Spend Estimates
- 47. Traffic costs
- 48. SEMRush Tool: http://www.semrush.com/ Granular data to compare with AdWords tool
- 49. Also data from SimilarWeb
- 50. SpyFu Tool: http://www.spyfu.com/ Make sure to compare with SpyFu as well
- 51. MOAT Display Intelligence Tool: http://www.moat.com/ Check out Moat for display intelligence
- 52. @jeffalytics What do we do with this data?
- 53. Triangulate your data sources Your Data Adobe, Google Analytics
- 54. Triangulate your data sources Anonymized Benchmark (GA), Industry (SW) Your Data Adobe, Google Analytics
- 55. Your Data Adobe, Google Analytics Specific SimilarWeb, SEMRush, etc. Anonymized Benchmarking Reports (GA) Triangulate your data sources Anonymized Benchmark (GA), Industry (SW) Specific SimilarWeb, SEMRush, etc. Your Data Adobe, Google Analytics
- 57. @jeffalytics Low Watermark (What we are currently doing) Provide several, well researched options
- 58. @jeffalytics Low Watermark (What we are currently doing) Provide several, well researched options Medium Watermark (What our competitors are doing)
- 59. @jeffalytics Low Watermark (What we are currently doing) Provide several, well researched options Medium Watermark (What our competitors are doing) High Watermark (Our market potential)
- 60. Show low-medium-high expense projections
- 61. Project revenues for each budget
- 63. $- $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 Profit Potential Profit Potential of Marketing Initiatives Low Watermark (current budget) Medium Watermark (competitors budget) High Watermark (10x Moonshot Plan) Put together a profit model to share
- 65. @jeffalytics Let’s bring this back to finance
- 66. Six Months and 10 calls later…
- 67. Yo, give us a bigger budget and we will make you $21 Million in profit! $- $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 Profit Potential Profit Potential of Marketing Initiatives Low Watermark (current budget) Medium Watermark (competitors budget) High Watermark (10x Moonshot Plan)
- 69. You might even get promoted! Promoted
- 73. • http://www.cyfe.com/ Cyfe for Free API based dashboards
- 74. All kinds of integrations
- 76. Cyfe Competitive Dashboard https://www.cyfe.com/blog/competitor-dashboard/ Competitive Dashboard with Cyfe
- 78. Connect Cyfe with other tools using Zapier
- 80. • https://www.zapier.com/ My favorite technology in the world right now
- 81. Choose the product you want to integrate
- 82. Zapier Recipe Book - https://zapier.com/zapbook/cyfe/ Create your own recipe or choose from recommended lists
- 83. @jeffalytics Project your marketing budget Automation saves time and research Back up opinions with competitive research Speak the language of the CFO Action Items
- 84. Get the spreadsheet: jeffalytics.com/budget2017 Thank You! Jeff Sauer jeff@jeffalytics.com