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Ashley Plack - Profit-Driven Marketing: The New Playbook
- 1. Profit-Driven Marketing The New Playbook Ashley Plack
- 3. Stages of Maturity Stage Volume KPI Rate KPI True KPI Performance- Driven Marketing Conversions Engagement Rate -- Persona-Driven Marketing Revenue ROI -- Profit-Driven Marketing -- -- Profit
- 4. The Old Playbook Stage Goals Performance-Driven Marketing Drive performance Manage linear touchpoints Persona-Driven Marketing Emotionally connect with audiences Connect linear touchpoints
- 5. How do you get at the sum of all your marketing efforts? ?
- 6. Why Change
- 7. Strategies Drive performance Manage touchpoints Emotionally connect with audiences Connect linear touchpoints Success = single action Customer journey = linear Online interactions = clear window into perception Interaction = value Assumptions
- 8. We evaluate our efficiency by looking at a volume and a rate, hoping to reach the equilibrium point.
- 9. Assessing Value Customer experiences are part of something bigger - customer relationships. The ultimate indicator is whether prospective customers choose to purchase our products and services -- the moment they say “I need this.”
- 11. How
- 13. Conversion Campaign Example Post Mortem - “Our campaign was way too expensive.” Social - Boosted Every Post Email - Email Takeover for duration of campaign Search - Optimized for 2 exact match keywords
- 15. What We Do ● What increases KPIs concurrently ● Focus on single steps, rather than full journeys
- 16. Changing Our Mindset 1. Start to look build campaign marketing processes 2. Leverage lookalike audiences
- 17. Changing Our Process 1. Bring the team together 2. Ease into a new KPI 3. Roll up your reporting by campaign
- 19. Revenue Campaign Example Post Mortem - “Revenue was below target” Social - Boosted posts and ran retargeting Email - Awareness - drip campaign Search - Optimized for 2 exact match keywords & used paid search to target broad match
- 20. What We Do ● Focus on bottom of funnel activities that are closest to revenue ● Try to drive linear journeys
- 23. Changing Our Mindset 1. Identify what other steps happen before, during, and after conversion for your users. 2. Accept the Pyrrhic victory 3. Identify your revenue-driving (and profit-driving) segments by behavior, not just demographics
- 24. Changing Our Process 1. Roll up campaign reporting 2. Optimize within campaigns 3. Wrap up your tests!
- 26. Profit-Driven Marketing What We Do ● Test and act based on how tactics have driven users to purchase -- even very high in the funnel ● Focus on relationships over journeys
- 27. Profit Marketing Example Post Mortem - “We met our plan to outperform.” Organized yearly schedule by aligning strategy with both business priorities and consumer behavior Leveraged machine-learning ad tech to personalize and target where possible
- 28. What We Do ● Look at the total impact of the campaign & account for the synergy of our digital channels and campaigns working together ● Assume that there are thousands of customer journeys - focus on customer relationships
- 30. Change v. Adapt Change Adapt
- 31. Adapting Our Mindset 1. Refresh data 2. Look for trends 3. Find disruptive technologies - broaden your scope
- 32. Adapting Our Process 1. Develop strategy with other teams 2. Align reporting to audience segments
- 33. Questions
Editor's Notes
- Thanks for coming Afternoon session How we do it FRamework for looking at our marketing, but pairs well with everything else (on top of everything else) HOW do we set up strategies, goals, processes
- Traditional optimization – based around maximizing a volume metric within a fixed budget – prevents marketers from fully realizing their marketing plans. Rather than allowing for a balanced approach, it drives to a KPI that does not necessarily reflect the full customer journey. Break free from the false sense of security that ROI and ROAS lure marketers into. Learn how to drive around one single orienting KPI – profit – which frees marketers to develop strategies to drive consumers to sales.
- Why is a new Playbook necessary? Pain point: People in the org don’t understand what we’re doing. The impulse is to go tactical. Hours spent. Content produced. Impressions. Conversions. Revenue. Reduced ad spend, shrinking budgets.
- When we drive towards both a volume (such as conversions) and a return rate (such as ROI) KPI, we guess at the optimal ratio of conversions to rate. We’re trying to drive to profit, but we’re not really. 3 levels of maturity and their corresponding KPIs.
- Illusion of flexibility: I can treat social (Who are our projects beholden to)
- What is performance? Performance customized to that channel. Conversion may or may not be standard. Not the full story, though nothing is wrong with them
- Don’t know the value of a click, of a like, of a share. Value of the person matters more. We think we know how our audiences tell us if they like what we’re doing - likes, shares, time on page. Gary Vaynerchuk why I hate samsung
- This is also how we communicate with stakeholders - leadership, other teams driving for the same goal. Integrated part of the organization.
- Sheryl Sandberg - podcast office hours - Facebook advertising was relatively new, trying to reconcile that with a great user experience (fighting the traditional view of a dichotomy). Tremendous pressure to do a “Hulk” takeover (like MySpace did for the Hulk movie). Most of those users never converted Bulk of keywords were longtail & didn’t include that phrase Weren’t segmenting lists Bulk of keywords were longtail & didn’t include that phrase Bulk of keywords were longtail & didn’t include that phrase
- Integrated agency (part of a larger team), but still have channel silos
- What are the tactics
- Campaign 1 to campaign 2 -
- Revenue - not by IDing the value of interactions, but by looking at campaign as a whole
- Marketing is the process by which a firm profitably translates customer needs into revenue. Mark Burgess – Managing Partner, Blue Focus Marketing
- ROI
- Integrated with customer journey information - marketing silos
- It is marketing that is oriented toward creating rather than controlling a market; it is based on developmental education, incremental improvement, and ongoing process rather than on simple market-share tactics, raw sales, and one-time events. Regis McKenna, HBR 1991 “Marketing is everything”
- Sheryl Sandberg - podcast office hours - Facebook advertising was relatively new, trying to reconcile that with a great user experience (fighting the traditional view of a dichotomy). Tremendous pressure to do a “Hulk” takeover (like MySpace did for the Hulk movie).
- Marketing org is integrated with the rest of the business- not by hierarchy or org chart, but by process