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How to Prove Marketing
ROI: Overcoming Digital
Marketing Challenges
June 4, 2020
| 2
The Open-Source
Expansion Partner
Ally has a deep passion for people and data. She has led
strategic initiatives for Pricewaterhouse Coopers,
MagMutual, Hab...
Danielle Barthelemy
Senior Digital Strategist
"It’s supposed to be hard. If
it wasn’t hard, everyone
would do it. The hard...
Vicky Walker
Digital Strategist
“Always believe in yourself. Do
this and no matter where you
are, you will have nothing to...
Today’s
Agenda
1. Attribution Overview
2. The Right Mindset
3. Implementing an Attribution Strategy
4. Q&A
| 7
View the recording for this webinar on our website.
https://www.mediacurrent.com/videos/webinar-how-to-prove-marketing...
Attribution
| 8
| 9
Impact of Attribution
Justify investments
through data
Reduce wasted spendBetter understanding of
customer journey
Bet...
| 10
Aligning metrics across varying
technology platforms with
different means of measurement.
Tying metrics to business
o...
| 11| 11
The Right Mindset
| 12
Without the right mindset, you will
be facing an uphill battle in making
data a sustainable competitive
advantage and...
An Infinite Mindset
is Critical
Proving ROI requires more than a “we have achieved attribution!”
mindset. It can’t be fini...
Foster a Data
Driven Culture
The value of data has to be understood by employees at every
level in order to have the resou...
Understanding the
Role of Data
The goal is not simply to gather all the data! To best use data
to communicate ROI, you hav...
Implementing an
Attribution Strategy
| 17
Understand where you’re going
before you build a map. In this
section we’ll cover:
● Establishing Goals + KPIs
● Cust...
| 18
Establish Goals and KPIs
“Marketers who set goals are 376% more likely to report success
than those who don’t. And 70...
| 19
When beginning a conversation about
attribution, always start with a conversation
about organizational goals.
What is...
| 20
Organizational Goal
Increase revenue by 2% YoY.
Marketing Goal
Increase leads by 10% YoY
while keeping conversion
rat...
| 21
Organizational Goal
Build brand awareness in
new niche market.
Marketing Goal
Display 100,000 ad
impressions to new t...
| 22
Challenges Tips + Tricks
Tying Marketing Objectives to
Overall Business Objectives
Ask yourself, “What’s the purpose
...
| 23
Tying Marketing Objectives to
Overall Business Objectives
Challenges Tips + Tricks
There is SO MUCH DATA!
Everything ...
| 24
...especially at first!
Choosing a goal based on the
data you have, and adapting
your goals over time as you
learn mo...
| 25
Map Customer Touchpoints
and Common Journeys
The consumer journey has seen monumental shifts over the
past few decade...
| 26
Back in the Day...
Asked friends
and family
Visited a car
showroom
Sat down with the
salesman to ask
questions
Test d...
| 27
To Now!
Awareness Interest Consideration Purchase Retention Advocacy
Saw a friend get a
new car
Read blogs on car
saf...
| 28
Understanding the User Journey
Challenges Tips + Tricks
Look closely at the trends within
your industry to get an ide...
| 29
Centralize Data
The process of centralizing data will help give you a global vision
of your customers, empower your a...
| 30
Three Popular Approaches
Blending
More flexible. Optimal for
long-term insights for
datasets with disparities.
Joinin...
| 31
Streamlining Your Data Processes
Challenges Tips + Tricks
I have data from a TON of
different sources.
Take inventory...
| 32
Capture and Analyze
Insightful Data
One-third of industry professionals highlight that the right
technologies for dat...
| 33
Put Your Data
to Work
Improve your
product
Capture more
market share
Increase
operational
efficiency
Better
understan...
| 34
Attribution Modeling
Challenges Tips + Tricks
Get buy-in from leadership.
Explore how the model fits within your
orga...
| 35
Data Analyzation
Challenges Tips + Tricks
I don’t have the bandwidth on my
team to analyze the data.
I lack the skill...
| 36
Current
Measurement
Quarterly Goal
Measurement
Percent Increase
or Decrease
Value per
Item
Expected Revenue
or Cost S...
| 37
Optimize!
With an infinite mindset, this process is cyclical. You continually
are pushing through to improve your att...
| 38
2 Is my data centralized?
What were the findings of my last
A/B tests?6
3 Has my marketing budget changed
recently?
H...
| 39
every quarter depending on how your
campaigns are set.
7. Repeat the process
from all channels and sources
you are cu...
| 40
Foster a data driven culture.
Establish goals and KPIs first to know what return you’re measuring.
Evolve your unders...
| 41
Questions
Looking for more information?
www.mediacurrent.com/contact-us
www.mediacurrent.com/resources
Thank you!
@Mediacurrent
Mediacurrent @Mediacurrent
MediacurrentDrupal
Mediacurrent.com
@Mediacurrent
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How to Prove Marketing ROI: Overcoming Digital Marketing Challenges

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Measuring the effectiveness of marketing activities and proving impact on revenue are on the mind of every marketer. There’s no question that there’s value in properly identifying, tracking, and analyzing KPIs to understand the value marketing brings to your organization, but it can be challenging getting the framework in place to do this properly.

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How to Prove Marketing ROI: Overcoming Digital Marketing Challenges

  1. 1. How to Prove Marketing ROI: Overcoming Digital Marketing Challenges June 4, 2020
  2. 2. | 2 The Open-Source Expansion Partner
  3. 3. Ally has a deep passion for people and data. She has led strategic initiatives for Pricewaterhouse Coopers, MagMutual, Habitat for Humanity, Guardian Insurance, and NOAA. Her expertise ensures the business goals of our clients are met through digital solutions. Ally takes pride in her ability to make others feel valued and appreciated. As a strategist, this allows her to see through the lens of various users to provide the best possible digital experiences across a variety of platforms. She works with clients to analyze and improve these digital experiences through strategic roadmaps, user research and testing, data analysis, and execution. Ally DelGuidice-Bove Digital Strategist “Happiness can be found even in the darkest of times, if one only remembers to turn on the light.” - Albus Dumbledore
  4. 4. Danielle Barthelemy Senior Digital Strategist "It’s supposed to be hard. If it wasn’t hard, everyone would do it. The hard is what makes it great." - Jimmy Dugan, A League of Their Own Danielle is a Senior Digital Strategist who loves all types of marketing from marketing strategy to social marketing. She built her impressive expertise through a love for education and her experience at several boutique marketing agencies. She loves partnering with clients on projects to create data-driven strategies. In addition to her agency roles, Danielle developed and taught a new digital marketing course at St. Cloud State University as an adjunct professor.
  5. 5. Vicky Walker Digital Strategist “Always believe in yourself. Do this and no matter where you are, you will have nothing to fear.” - The Cat Returns (2002) In her role as a Digital Strategist, Vicky combines her background in international business and digital ad strategy to help Mediacurrent clients build relationships between brands and their customers. Her areas of expertise include project launch coordination, user experience, and digital advertising. Vicky has worked on social ad campaigns for Disney, Target, Wyndham Hotels, Bose, Royal Caribbean, and other enterprise brands representing tens of millions of dollars in ad revenue. Prior to joining Mediacurrent, Vicky owned a social media strategy consultancy supporting PPC-focused ad agencies and individual companies who needed social ad expertise.
  6. 6. Today’s Agenda 1. Attribution Overview 2. The Right Mindset 3. Implementing an Attribution Strategy 4. Q&A
  7. 7. | 7 View the recording for this webinar on our website. https://www.mediacurrent.com/videos/webinar-how-to-prove-marketing-roi Webinar Video
  8. 8. Attribution | 8
  9. 9. | 9 Impact of Attribution Justify investments through data Reduce wasted spendBetter understanding of customer journey Better allocation of budget Increase leads Increase revenue Creates actionable insight Justify investments through data Reduce wasted spendBetter understanding of customer journey Better allocation of budget Increase leads Increase revenue Creates actionable insight
  10. 10. | 10 Aligning metrics across varying technology platforms with different means of measurement. Tying metrics to business objectives Bad data (inaccurate, incomplete, siloed) Can be costly for resources and technology Buy-in + alignment from organization Complex buyer’s journey with multiple touchpoints Attribution is Hard Aligning metrics across varying technology platforms with different means of measurement. Tying metrics to business objectives Bad data (inaccurate, incomplete, siloed) Can be costly for resources and technology Buy-in + alignment from organization Complex buyer’s journey with multiple touchpoints
  11. 11. | 11| 11 The Right Mindset
  12. 12. | 12 Without the right mindset, you will be facing an uphill battle in making data a sustainable competitive advantage and communicating the ROI of your efforts. Three key elements include: ● An infinite mindset ● A data driven culture ● Critical, multifaceted thinking Overview
  13. 13. An Infinite Mindset is Critical Proving ROI requires more than a “we have achieved attribution!” mindset. It can’t be finite. We need to see attribution, success of marketing strategy and data driven decision making in an infinite light. There is always room to grow, always room for optimization.
  14. 14. Foster a Data Driven Culture The value of data has to be understood by employees at every level in order to have the resources to execute on a data strategy, to leverage the data and realize the value of the insight, and enrich the data with contextual meaning.
  15. 15. Understanding the Role of Data The goal is not simply to gather all the data! To best use data to communicate ROI, you have to: ● understand the unique role of data in your strategy ● apply critical thinking to define how you plan to use analytics to create business advantage ● execute and continually optimize Without a clear, cross functional consensus on the role of data, people and teams and entire departments go off on their own. There is a lot of activity but little sustained benefit and little chance of cumulative positive impact.
  16. 16. Implementing an Attribution Strategy
  17. 17. | 17 Understand where you’re going before you build a map. In this section we’ll cover: ● Establishing Goals + KPIs ● Customer Touch Points ● Centralizing Data ● Analyzing Data ● Optimizing Strategy Overview
  18. 18. | 18 Establish Goals and KPIs “Marketers who set goals are 376% more likely to report success than those who don’t. And 70% of those successful, goal-setting marketers achieve them.” 1
  19. 19. | 19 When beginning a conversation about attribution, always start with a conversation about organizational goals. What is at the heart of our goal? What does the organization really want to accomplish? If you haven’t been given any goals, select a few and get confirmation from leadership. Then you can further define KPIs. Tying Marketing Objectives to Business Objectives
  20. 20. | 20 Organizational Goal Increase revenue by 2% YoY. Marketing Goal Increase leads by 10% YoY while keeping conversion rate consistent. KPIs ● # of leads ● Conversion rate Example 1:
  21. 21. | 21 Organizational Goal Build brand awareness in new niche market. Marketing Goal Display 100,000 ad impressions to new target audience within Q3. KPIs ● # of impressions ● Click Through Rate ● New User Sessions Example 2:
  22. 22. | 22 Challenges Tips + Tricks Tying Marketing Objectives to Overall Business Objectives Ask yourself, “What’s the purpose of the goal? Brand awareness? Lead generation? Revenue?” I know the organizational goals, but I’m having a hard time tying them to what we’re able to do in marketing. Our organizational goals are not actionable. We don’t have defined organizational goals. Collaborate with leadership to define how marketing can best serve the organization.
  23. 23. | 23 Tying Marketing Objectives to Overall Business Objectives Challenges Tips + Tricks There is SO MUCH DATA! Everything has a data point. How do I choose the most important metrics for KPIs? Designate some metrics as metrics to watch. It’s okay to evolve them over time.
  24. 24. | 24 ...especially at first! Choosing a goal based on the data you have, and adapting your goals over time as you learn more, will get you much farther than having no goals at all. It’s OK to Be Wrong...
  25. 25. | 25 Map Customer Touchpoints and Common Journeys The consumer journey has seen monumental shifts over the past few decades. It’s important to understand where we started, in order to properly plan for the nuances that come with the modern customer journey today.
  26. 26. | 26 Back in the Day... Asked friends and family Visited a car showroom Sat down with the salesman to ask questions Test drove a few models Purchase! Need: Buy a new car!
  27. 27. | 27 To Now! Awareness Interest Consideration Purchase Retention Advocacy Saw a friend get a new car Read blogs on car safety ratings Researched different car models Received an email about a car model Searched for car dealerships near you Began evaluating pricing options Post on social media about the new car Told friends about the experience Visited a dealership website Continued to compare price and finance options Visited a dealership to test drive different models Purchase! Joined a branded Facebook group with other car owners to keep up to date on latest changes and trends Reviewed their website for FAQs
  28. 28. | 28 Understanding the User Journey Challenges Tips + Tricks Look closely at the trends within your industry to get an idea of where your customers might be. The internet has vastly changed how users search for products. Where do I even start? How do I create a sustainable plan to track customer touchpoints? Start small. Examine your sales journey. My users are everywhere. How do I know which channels to focus mapping out touchpoints for? Tie this back to your organizational goals and KPIs. Ask yourself: “Which channel will give me the most ROI?”
  29. 29. | 29 Centralize Data The process of centralizing data will help give you a global vision of your customers, empower your analytics to gain a 360 degree view, and help to determine customer or account level profitability.
  30. 30. | 30 Three Popular Approaches Blending More flexible. Optimal for long-term insights for datasets with disparities. Joining Combining two databases. These datasets need to have the same key. Integration Extracting data and importing it into another. Not ideal but can be relevant.
  31. 31. | 31 Streamlining Your Data Processes Challenges Tips + Tricks I have data from a TON of different sources. Take inventory and ask yourself: “What data is needed to help solve my specific problem?” How do I help my leadership easily understand our progress against our goals? Utilizing a visualization tool like Google Data Studio with only your KPIs and how they tie in to the business objectives. How do I know if my data is accurate? Consistently audit your data configurations and gut check the data.
  32. 32. | 32 Capture and Analyze Insightful Data One-third of industry professionals highlight that the right technologies for data collection and analysis are essential for better understanding customers. So what is the right way to accomplish this?
  33. 33. | 33 Put Your Data to Work Improve your product Capture more market share Increase operational efficiency Better understanding of the user journey Decrease call volume Gathering data is just the first step in the process - it only becomes useful once you: ● Assign attribution ● Perform analyses ● Move from insight to impact Then you can put your data to work improving outcomes across your business.
  34. 34. | 34 Attribution Modeling Challenges Tips + Tricks Get buy-in from leadership. Explore how the model fits within your organization’s analytics toolset. Align the business goals across your organization. Ask yourself again: “What are our goals?” I don’t know how to assign attribution. How do I know which attribution model is right for my organization?
  35. 35. | 35 Data Analyzation Challenges Tips + Tricks I don’t have the bandwidth on my team to analyze the data. I lack the skills needed to analyze the data in an insightful way. Use the resources available to you to level up your data literacy. Create automated reporting or dashboards to make analyzation more efficient.
  36. 36. | 36 Current Measurement Quarterly Goal Measurement Percent Increase or Decrease Value per Item Expected Revenue or Cost Savings per Item Organic Search Traffic 18% 25% 38.89% $3.00 $ 1.17 Email Click-Through Rate 1% 3% 200.00% $ 0.75 $ 1.50 Bounce Rate 65% 40% -38.46% $ 2.50 $ (0.96) Qualified Students Applications 200 300 50.00% $ 10,000.00 $ 5,000.00 Alumni Donations 100,000 150,000 50.00% $ 1.00 $ 0.50 The ROI Scorecard
  37. 37. | 37 Optimize! With an infinite mindset, this process is cyclical. You continually are pushing through to improve your attribution. To be stronger than you were yesterday. To be a step further in understanding your audience than you were last month.
  38. 38. | 38 2 Is my data centralized? What were the findings of my last A/B tests?6 3 Has my marketing budget changed recently? Has my organization launched a new product or service?7 1 How is sales performing? What insight are we learning from sales opportunities? When was the last time I set up segments for my various audiences?5 4 How are consumer behaviors shifting? How are my paid advertising campaigns performing?8 When to Optimize 2 Is my data centralized? What were the findings of my last A/B tests?6 3 Has my marketing budget changed recently? Has my organization launched a new product or service?7 1 How is sales performing? What insight are we learning from sales opportunities? When was the last time I set up segments for my various audiences?5 4 How are consumer behaviors shifting? How are my paid advertising campaigns performing?8 Knowing when to optimize is a challenge all marketers have. How do you know how often you should be tracking, readjusting, and testing your data?
  39. 39. | 39 every quarter depending on how your campaigns are set. 7. Repeat the process from all channels and sources you are current tracking from. 1. Review data of successes, areas of opportunity, and what you are learning about your audience. 2. Take inventory of how the data is being tracked. 6. Adjust current setup to address opportunities. 3. Map out plan and failures of what the testing is telling you. 5. Track successes Create a plan to test on various channels 4. Testing, testing, testing Review, Readjust, Repeat! Optimize! Growing your data measurement strategy is cyclical
  40. 40. | 40 Foster a data driven culture. Establish goals and KPIs first to know what return you’re measuring. Evolve your understanding of your audience and map their journeys. Centralize your data to tell a stronger story of ROI. Adopt an infinite mindset. Optimize your data and analysis approach to further establish data as a competitive advantage. Key Takeaways Adopt an infinite mindset. Foster a data driven culture. Establish goals and KPIs first to know what return you’re measuring. Evolve your understanding of your audience and map their journeys. Centralize your data to tell a stronger story of ROI. Optimize your data and analysis approach to further establish data as a competitive advantage.
  41. 41. | 41 Questions Looking for more information? www.mediacurrent.com/contact-us www.mediacurrent.com/resources
  42. 42. Thank you! @Mediacurrent Mediacurrent @Mediacurrent MediacurrentDrupal Mediacurrent.com @Mediacurrent

Measuring the effectiveness of marketing activities and proving impact on revenue are on the mind of every marketer. There’s no question that there’s value in properly identifying, tracking, and analyzing KPIs to understand the value marketing brings to your organization, but it can be challenging getting the framework in place to do this properly.

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