Marketers are facing an increasingly complex and uncertain environment as they contend with emerging channels, sophisticated consumers, and economic and technology trends that shatter the notion of business-as-usual. All the while, interactive marketing is rising in influence and proportion of marketing spend as marketers respond to pressure to show a return on every dollar they spend. This presentation will discuss the major trends affecting interactive marketers, strategies for leveraging complexity to develop sustainable competitive advantages, and a roadmap for a balanced approach to coordinating analytics, content, and marketing execution.
So let’s look at what we’re up against. These things may not affect you on a daily basis in a tactical way. But these things have trickle down affects on all of us.
http://www.fredcavazza.net/files/2010/12/SocialMediaLandscape2011.jpgThe social ecosystem is huge in its diversity and the number of companies trying to make sense of it.This chart is by Brian Solis and Jesse Thomas, they update it periodically, it’s fascinating. But the implications are clear based on the data.
So how do we turn complexity from an obstacle into an advantage?
This is going to take more than a dashboard.To leverage complexity, we need a way to pull it under control.
Old organizational models simply can’t keep up.
Now we are seeing an emergence of a kaleidoscope of organization to foster the needed collaboration, speed, iteration.
Photo - http://www.nicclark.com/blogview/networking-in-the-new-year-how-to-get-50000-contacts-from-one-person-111Case in point — take a relatively simple example such as a website, there are simply too many visitors, with unknown intentions, and many of them anonymous to possibly guess at what marketing and promotions will be effective. First, too many visitors to our website.John spoke earlier about Big data, we have more information than ever before. Manual analysis is expensive, slow, and error prone.
Source - http://1024x.net/70/-/Color_Spectrum_Wallpaper/Second, people visit website for many, many reasons. Some of which we have anticipated, some which we haven’t. Some visitors we want, some we don’t. Understanding and predicting their intentions is extremely difficult.
Source – www.johnharveyphoto.com/life/4_2006/blurrymesshg.jpgThird, our view of visitors is inherently blurry. We have information on visitors, much of it is anonymous, slightly inaccurate; in general highly variable.We need to fill in the gaps, apply filters, and make sense of it all.Ok, so that’s just your website! How are we going to wrangle the entire interactive marketing mix!?
Online testing is very flexible and we see it deployed to accomplish a variety of tasks.Meet Web site goals (e.g. conversion, sales, clickthroughs etc.) – This is the most classic application, test permutations of content or promotions and evaluate them based on performance against defined goals.Improve customer experience – Improving customer experience is difficult because it can be so subjective, online testing provides a way to test designs, content, technologies to evaluate quantitative impact, again on desired goals that the customer experience is intended to provoke.Drive incremental improvements quickly – testing can be very efficient for continuous improvement, an ongoing effort not a one time change. Don’t boil the ocean. Figure out what parts of the site drive activity and incrementally improve them.Depending on traffic and test complexity – This is the caveat.Statistically based insight into what works and what doesn’t – This allows the site and potential changes to be viewed in terms of relevant goals and KPIs, the best arbiter of decisions.Understanding of: - Complex interactions on your site, where elements are very interconnected.Factor importanceFactor interactionOptimal factor combination by segment
IN terms of goals, conversion is king, particularly for transaction oriented websites. Non transactional sites look at slightly different elements that drive engagement and downstream conversions such as form completion, registration, etc.
Successful interactive marketing requires a thoughtful balanceContentExecutionAnalyticsEnforce a framework for maintaining an appropriate balanceEncourage a virtuous cycleClose the loop
Messaging has a tight relationship with other interactive channelsSearchSocialWebsiteCentral to interactive marketing.
1200 omma metrics joe stanhope
The Digital Marketing Imperative:Leveraging Complexity As A Competitive Advantage<br />Joe Stanhope, Senior Analyst<br />July 21, 2011<br />
The complexity of digital marketing is an equal opportunity disruptor, creating an opportunity for those firms that learn to harness complexity to build sustainable competitive advantages.<br />
March 2011 “Welcome To The Era Of Agile Commerce”<br />Engaging The Ever-Connected Consumer Across Touchpoints<br />
To harness complexity we must address marketers’ most vexing questions<br />How can we harness <br />the data we generate <br />and make it actionable?<br />How can we maintain our <br />operational tempo?<br />How can we plan, execute, <br />and measure cross-channel <br />campaigns that are relevant to <br />our customers and prospects?<br />How can we <br />measure all of our <br />interactions and <br />implement accurate <br />attribution?<br />How can we adopt new <br />channels without starting <br />from scratch or negating <br />previous investments?<br />
The online marketing suite:<br />A network of interactive marketing specialists — held together by a central hub — which supports the entire interactive marketing process from planning and design to execution, measurement, and analysis.<br />
February 2011 “Revisiting The Online Marketing Suite”<br />The Online Marketing Suite In 2011<br />
The benefits of the online marketing suite<br />Visibility<br />Supports a unified view across the interactive marketing mix<br />Drives multichannel analytics and campaign execution<br />Accuracy<br />Coordinated data management for a single source of insight<br />Drives the reduction of errors, data quality issues, and delays<br />Context<br />Tracks customers and prospects through the multichannel funnel<br />Drives cross-channel attribution and optimization<br />Collaboration<br />Workflow guides processes across the extended marketing stakeholder set.<br />Drives consistency, efficiency, and encourages information sharing<br />
How is Online Testing Useful?<br />Meet marketing or campaign goals (e.g. conversion, sales, click-throughs, etc.)<br />Improve customer experience<br />Drive incremental improvements quickly <br />Statistically based insight into what works and what doesn’t <br />Understanding of:<br />Factor importance<br />Factor interaction<br />Optimal factor combination by segment<br />Testing across channels and through the funnel<br />
Users Cite the Top Benefits of Online Testing<br />
Work from a roadmap<br />The roadmap encompasses five elements<br />Source: March 4, 2011, “The Road To The Online Marketing Suite” Forrester report<br />
Leveraging complexity is about more than technology <br />Consider processes and skills<br />Prepare for a long-term commitment, not a project <br />Work the roadmap in stages based on your starting point and priorities<br />Never assume<br />Your intuition isn’t that good – trust me – test everything<br />Maintain a balanced perspective<br />Analytics is critical but never discount content and execution<br />