Meaningful Measurements for Marketers                 Rebecca Steinberg Herson   Lecture for: Applied Project for Honors M...
A bit about me• Led global marketing for over a decade in tech  companies & non-profits• 3 high-growth Deloitte Fast 50 co...
Agenda• Marketing and Measurement• Pre-launch Measurements• Promotion Measurements   – Web   – Email Marketing   – Media R...
Old School Marketing Measurement      Half the money I spend      on advertising is wasted, and      the problem is I do n...
So many metrics, so little time…               www.theleanmarketer.com              www.theleanmarketer.com    5
Avoid Vanity Metrics                                        Metrics that make                                        you f...
PRE-LAUNCH MEASUREMENTS            www.theleanmarketer.com   7
Early Tests and Measurements•   What the customer wants•   What the customer will BUY•   What the competition is doing•   ...
Market Surveys  • Use surveys to      –   test product ideas      –   confirm your instincts      –   refine your message ...
Paid Survey Audience Solutions• B2B:  – http://www.thinkspeed.com/ $3 - 5K/ survey depending on    the audience• B2C:  – S...
Free tools for Web research• Identify industry events, active companies, potential  partners, competitors http://www.googl...
A-B Testing• http://pickfu.com - $10 for 50 opinions   – Use for A/B testing   – Gauge popular opinion   – Determine consu...
Test Early and OftenThere is no substitute for watching real people try           (and fail) to use your product          ...
PROMOTION MEASUREMENTS            www.theleanmarketer.com   14
Each Promotion Type Has Metrics                                                              Social                       ...
Measure and trackthings that will helpyou take ACTION andmake better DECISIONS      www.theleanmarketer.com   16
Calls To Action                          How can I                                        optimize this                   ...
WEB METRICS               www.theleanmarketer.com              www.theleanmarketer.com    18
What is the Meaning of These Figures?Hint: not much…                  www.theleanmarketer.com   19
How many people             What sourcesthat register for a         do they come  demo become                   from?   cu...
Web Metrics                                                                      Revenues per                             ...
EMAIL MARKETING METRICS              www.theleanmarketer.com             www.theleanmarketer.com    22
Subject Tests                   Subject 1: Email-         Subject 2: 400%     Language                   borne malware    ...
Goal: Deliverability                       Unsubscribes600500                                                             ...
Email Marketing Metrics                                                                        Revenues/                  ...
MEDIA RELATIONS METRICS              www.theleanmarketer.com             www.theleanmarketer.com    26
PR Metrics                                                                        Revenues/                               ...
Media Hits Over Time1201008060                                                                                            ...
Media Hits by Publication Type1201008060                                                                                  ...
Announcement Effectiveness                                                                                                ...
www.theleanmarketer.com   31
Twitter Metrics                                                        Revenues per                                       ...
Event Metrics                                                                         Revenues/Value                      ...
HOW TO KNOW WHAT’S WORKING (ROI)            www.theleanmarketer.com   34
Sales & Marketing Funnel Leads                                       Customers             www.theleanmarketer.com        ...
How to Measure What’s Working?• SALES (of course)• What if you’re not selling? Divide your pipeline into specific stages, ...
Sample Pipeline by Lead Source      14      12                                     Trade Show                             ...
Iterate, Iterate and Iterate Again• Build in feedback models     – A-B testing     – Track opens, clicks, event attendance...
Thank You!       Rebecca Steinberg Herson    rebecca@theleanmarketer.com             +972-54-444-2372http://il.linkedin.co...
Measuring Conversion Rate               4700                                         Email blast sent               1175  ...
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Meaningful Measurements for Marketers

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Marketing measurement lecture presented to the Honors MBA program at Ben Gurion University on July 1, 2012. These students had already taken an intro marketing course, and this lecture was designed to help them take a step forward, as they are in the Applied Project course, in which they act as management consultants to area businesses.

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Meaningful Measurements for Marketers

  1. 1. Meaningful Measurements for Marketers Rebecca Steinberg Herson Lecture for: Applied Project for Honors MBA Program Ben Gurion University, Israel July 1, 2012 www.theleanmarketer.com Copyright © 2012 Rebecca Steinberg Herson 1
  2. 2. A bit about me• Led global marketing for over a decade in tech companies & non-profits• 3 high-growth Deloitte Fast 50 companies• Primarily B2B, some B2C• Today: founder & principal at The Lean Marketer, providing outsourced CMO services to companies in: – SaaS – Social Networking – Big Data – Physical Security – etc. www.theleanmarketer.com 2
  3. 3. Agenda• Marketing and Measurement• Pre-launch Measurements• Promotion Measurements – Web – Email Marketing – Media Relations (PR) – Everything Else• Calculating ROI & What’s Working www.theleanmarketer.com 3
  4. 4. Old School Marketing Measurement Half the money I spend on advertising is wasted, and the problem is I do not know which half.” Lord Leverhulme 1851-1925 British founder of Unilever and philanthropist www.theleanmarketer.com 4
  5. 5. So many metrics, so little time… www.theleanmarketer.com www.theleanmarketer.com 5
  6. 6. Avoid Vanity Metrics Metrics that make you feel good, but don’t move your business forward. www.theleanmarketer.com 6
  7. 7. PRE-LAUNCH MEASUREMENTS www.theleanmarketer.com 7
  8. 8. Early Tests and Measurements• What the customer wants• What the customer will BUY• What the competition is doing• What is working for the competition• ….. www.theleanmarketer.com www.theleanmarketer.com 8
  9. 9. Market Surveys • Use surveys to – test product ideas – confirm your instincts – refine your message – discover new potential customers • Google docs - its completely free – Can be edited collaboratively (whoever you allow) – Lots of available designs, or embed in your own web page or blog • LinkedIn Polls – Survey your own network for free – Survey specific demographics for a fee (~$1/response) www.theleanmarketer.com 9
  10. 10. Paid Survey Audience Solutions• B2B: – http://www.thinkspeed.com/ $3 - 5K/ survey depending on the audience• B2C: – SurveyMonkey Audience http://www.surveymonkey.com/mp/audience/ – $3.00 per finished response for standard demographics (gender, age, income, education, employment, location. Requires professional plan (~$20/month) www.theleanmarketer.com 10
  11. 11. Free tools for Web research• Identify industry events, active companies, potential partners, competitors http://www.google.com • Identify market trends over time, estimate potential volume and geographies http://www.google.com/insights/search/• Estimate traffic volume, cost of acquisition, find related keywords https://adwords.google.co.il/o/KeywordTool• Identify your competitors keywords: http://www.keywordspy.com/• Get your questions answered: http://www.quora.com/ www.theleanmarketer.com 11
  12. 12. A-B Testing• http://pickfu.com - $10 for 50 opinions – Use for A/B testing – Gauge popular opinion – Determine consumer preference – Predict consumer behavior www.theleanmarketer.com 12
  13. 13. Test Early and OftenThere is no substitute for watching real people try (and fail) to use your product www.theleanmarketer.com 13
  14. 14. PROMOTION MEASUREMENTS www.theleanmarketer.com 14
  15. 15. Each Promotion Type Has Metrics Social Networking MIT Sloane School Marketing Management Course Lecture www.theleanmarketer.com 15
  16. 16. Measure and trackthings that will helpyou take ACTION andmake better DECISIONS www.theleanmarketer.com 16
  17. 17. Calls To Action How can I optimize this Which sources lead process? to customers?• Sign up for our newsletter• Visit our web site• Download this white paper Which• Enter this contest clicks lead• Meet us at this event What is to trials? working?• What do you think about X? Tell us in the comments• Register for our free version• View this webinar• Answer our survey• Call our hotline… operators standing by• BUY!!! www.theleanmarketer.com 17
  18. 18. WEB METRICS www.theleanmarketer.com www.theleanmarketer.com 18
  19. 19. What is the Meaning of These Figures?Hint: not much… www.theleanmarketer.com 19
  20. 20. How many people What sourcesthat register for a do they come demo become from? customers? Which call(s) to action lead to our most profitable customers? www.theleanmarketer.com www.theleanmarketer.com 20
  21. 21. Web Metrics Revenues per traffic sourceValue Revenues per site offer Customers acquired Conversions per source Conversions/registrations Inbound links/ traffic sources Time on site; # pages viewed # of unique visitors Difficulty to obtain www.theleanmarketer.com 21
  22. 22. EMAIL MARKETING METRICS www.theleanmarketer.com www.theleanmarketer.com 22
  23. 23. Subject Tests Subject 1: Email- Subject 2: 400% Language borne malware increase in email versions makes a huge borne malware (subject 1) comebackUnique open rate 17.5% 15.5% 17.7%Unique click 4.2% 2.8% 2.8%through rate www.theleanmarketer.com
  24. 24. Goal: Deliverability Unsubscribes600500 March400 April May June300 July August Sept200 October November December100 0 Undeliverable Unsubscribes Deliverability Rate www.theleanmarketer.com
  25. 25. Email Marketing Metrics Revenues/ $ investedValue WHY Deals at advanced unsubscribed Pipeline stages Opportunities Better subject CT leading to (AB Testing) desired action unsubscribes Clickthroughs Opens Sent Difficulty to obtain www.theleanmarketer.com 25
  26. 26. MEDIA RELATIONS METRICS www.theleanmarketer.com www.theleanmarketer.com 26
  27. 27. PR Metrics Revenues/ $ investedValue Deals from media coverage Media coverage per content/ time investment Qualified media coverage Media coverage Announcements/ interviews Difficulty to obtain www.theleanmarketer.com 27
  28. 28. Media Hits Over Time1201008060 Total Media Hits4020 0 Jan-10 Mar-10 May-10 Jul-10 Sep-10 Nov-10 Jan-11 Mar-11 May-11 Jul-11 Sep-11 Nov-11 www.theleanmarketer.com 28
  29. 29. Media Hits by Publication Type1201008060 Data Business4020 0 Jan-10 Mar-10 May-10 Jul-10 Sep-10 Nov-10 Jan-11 Mar-11 May-11 Jul-11 Sep-11 Nov-11 www.theleanmarketer.com 29
  30. 30. Announcement Effectiveness Compromised Outbound Spam Accounts Survey Analyst Study Major drop in spam120 Trend report1008060 Data Business4020 0 Jan-10 Mar-10 May-10 Jul-10 Sep-10 Nov-10 Jan-11 Mar-11 May-11 Jul-11 Sep-11 Nov-11 www.theleanmarketer.com 30
  31. 31. www.theleanmarketer.com 31
  32. 32. Twitter Metrics Revenues per $ investedValue # Deals CT leading to registration Clickthroughs Retweets Mentions # of tweets Difficulty to obtain www.theleanmarketer.com 32
  33. 33. Event Metrics Revenues/Value $ invested Closed Deals Deals at advanced Pipeline stages Value of time spent Amount spent Opportunities Qualified leads # of badges scanned Difficulty to obtain www.theleanmarketer.com 33
  34. 34. HOW TO KNOW WHAT’S WORKING (ROI) www.theleanmarketer.com 34
  35. 35. Sales & Marketing Funnel Leads Customers www.theleanmarketer.com 35
  36. 36. How to Measure What’s Working?• SALES (of course)• What if you’re not selling? Divide your pipeline into specific stages, and track opportunities as they progress Traditional Enterprise Product: Social/ SaaS: 1-Qualified suspect – meets our 1-free trial registrant criteria 2-spent time on site/app 2-Initiated contact 3-populated personal profile 3-Interest expressed – potential 4-asked support question opportunity identified … … 8-signed up for 1 month paid 9-Verbal commitment to purchase 9-Renewed for 1 year paid Closed Won Closed Lost Stalled/Postponed www.theleanmarketer.com 36
  37. 37. Sample Pipeline by Lead Source 14 12 Trade Show London 10 Twitter 8 6 Google Ads 4 Webinar 2 Articles 0 Stage Stage Stage Stage Sold 6 7 8 9 www.theleanmarketer.com 37
  38. 38. Iterate, Iterate and Iterate Again• Build in feedback models – A-B testing – Track opens, clicks, event attendance, registrations, etc.• Do it better the next time• Adjust your message• Adjust your demo• Adjust your home page• Adjust your marketing channel• Try to improve the # of leads coming into the funnel• Track and improve your conversion rate at every step in the funnel www.theleanmarketer.com 38
  39. 39. Thank You! Rebecca Steinberg Herson rebecca@theleanmarketer.com +972-54-444-2372http://il.linkedin.com/in/rebeccaherson www.theleanmarketer.com 39
  40. 40. Measuring Conversion Rate 4700 Email blast sent 1175 Invitations Opened 25% open rate 94 Unique page views 2% of invited 41 Respondents 44% page conversion 58 Attendees Attendees > respondents indicates WOM www.theleanmarketer.com 40

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