Bottom Line Marketing: How To Improve Marketing ROI
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This is the first part of a series of presentations on marketing strategy and deals with improving marketing ROI. It's full of colorful slides to make points simply and clearly. This 70-slide PowerPoint presentation will: 1. Give you a comfort level with Social Media and its place in your marketing program. 2. Introduce a systematic approach to marketing that will ensure your plans are effective and efficient. 3. Provide 3 worksheets to help you improve ROI. 4. Show you the full business upside when the Bottom Line process is used. For more, please
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Bottom Line Marketing: How To Improve Marketing ROI
- 3. Comfort Level With Digital Change
- 4. Websites
- 5. Social Media
- 7. What comes to mind when I say Social Media and Facebook?
- 8. What comes to mind when I say Social Media and Facebook? “I don’t get it.” “I don’t what to miss the bus.” “I don’t know how to quantify it.” “Make it go away.” “I feel pushed into it.”
- 9. What comes to mind when I say Social Media and Facebook? “I don’t get it.” (fear of unknown, frustration) “I don’t what to miss the bus.” (fear of losing out) “I don’t know how to quantify it.” (uncertainty) “Make it go away.” (confusion) “I feel pushed into it.” (loss of control)
- 10. What is your goal for Social Media?
- 11. What is your goal for Social Media? Use it to generate lots of money. Master it. Understand it so I can manage it. I don’t need to understand it as long as it generates customers and sales.
- 12. The Problem Change that doesn’t fit your success process. New way of competing New way of thinking New vocabulary New culture See only difficulties/no obvious solution
- 13. The Problem Change that doesn’t fit your success process. New way of competing New way of thinking New vocabulary New culture See only difficulties/no obvious solution Logical Analytical Cultural Systematic Solution oriented vs.
- 14. Frustrated?
- 15. Does The Road to Profits Look Like This?
- 16. Want it to look like this?
- 17. The Path To Profits
- 18. Then we need... Systematic Process
- 19. Solution Path Re-frame the challenge of Social Media Fit into a familiar environment Establish a systematic process Learn and use new tools for mastery
- 20. Bottom Line Marketing Is a Systematic Process
- 21. Re-Frame Social Media serves your business. Your business does not serve Social Media.
- 22. Re-Frame Engine is business strategy Social Media Marketing
- 23. Re-Frame Business is served by adding customers and sales. Choose A or B A B More profit No Facebook Fans No profit Many Facebook Fans
- 24. Re-Frame Definition: Social Media is an investment option to achieve a measurable return in customers and sales.
- 25. “If it don’t make cents, it don’t make sense.” -Paraphrased from Dan Zarrella
- 26. Start at the beginning
- 30. Marketing in Transition Outbound Marketing Inbound Marketing
- 31. Marketing in Transition Outbound Marketing Inbound Marketing Traditional Intrusive TV ads Email Direct Mail Phone Calls New Selective Search Social Media Blogging Permission
- 32. 5-Steps To Inbound Effectiveness Create Optimize Promote Convert Analyze Courtesy of Hubspot
- 34. Familiarity
- 36. Contests
- 37. E-book
- 39. Case Studies
- 41. Free Consults
- 42. Buyer vs. Seller
- 44. Decisions
- 45. Questions
- 46. Influence
- 47. Process
- 49. Persona Actual Persona: Therefore, we are not offering services, but rather a crown to his ongoing achievements. It is very personal and has an emotional attachment. It will afford him accolades and respect, and reflects highly of his standards and good taste.
- 50. Online Foundation Traffic Rank Customer Acquisition Website Re-Launch ROI
- 51. Where are you in line? Best Traffic Rank Google #1
- 52. Where are you in line? Best Traffic Rank Google #1 Sample Vistage Member #8,240,000
- 54. Customer Acquisition 1. Problem > Search the web 2. Magnet > Attract to website 3. Avoid a bounce 4. Variety of offers 4. Capture lead 5. Customers !!!
- 55. Website Re-Design: 3-Stages Build ROI – New Design Coding New Content Change Culture Grow ROI -/+ Gain Competence Gain Skills Expand Knowledge Reach Critical Mass Blog Analyze Add Content Reap/Sustain ROI + Leverage Content Assets Gain Efficiency Reduce Resources Blog Analyze Add Content Launch
- 56. Often Underestimated Costs Research / Discovery On-going Maintenance Internal Resources
- 57. Elements of Return Actual sales Pipeline sales Relationships Conversations Problems avoided
- 58. Worksheet
- 59. Social Media Foundation Social Media Policy Digital Skills and Experience Management Decisions The New Conversation
- 60. Buy, buy, buy. Talk to me.
- 62. “Like”
- 64. Social Media Options Passive Listening Active Listening Selective Participation Active Participation Active Contributing Thought Leadership Influencing
- 65. Social Media Advanced Options Monitor Competition Events Games/Contests Promotions Retail Sales Research
- 66. Social Media ROI Key: Area = Opportunity ROI Time & Investment
- 67. Social Media ROI Key: Area = Opportunity ROI 1 Object e.g. Facebook Time & Investment
- 68. Social Media ROI Key: Area = Opportunity ROI Multiple objects 1 Object e.g. Facebook Time & Investment
- 69. Social Media ROI Key: Area = Opportunity ROI Add blogging, casual activity & listening Multiple objects 1 Object e.g. Facebook Time & Investment
- 70. Social Media ROI Key: Area = Opportunity Add consistent activity and participation ROI Add blogging, casual activity & listening Multiple objects 1 Object e.g. Facebook Time & Investment
- 71. Social Media ROI Key: Area = Opportunity Add creating and thought leadership Add consistent activity and participation ROI Add blogging, casual activity & listening Multiple objects 1 Object e.g. Facebook Time & Investment
- 72. Social Media ROI Key: Area = Opportunity Add creating and thought leadership Add consistent activity and participation ROI Add blogging, casual activity & listening Multiple objects 1 Object e.g. Facebook Time & Investment
- 74. Social Media Is Complex
- 76. Keep it fresh
- 77. Respond
- 78. Keep on the page
- 80. ROI: How high is up? How high is up? Analytics
- 81. Value of Analytics: E.G. Facebook vs. Twitter +68%
- 82. Try Sending on Weekends Sunday Saturday
- 83. Send Early 5 am
- 84. Optimize email for mobile
- 85. ROI: How high is up? How high is up? Testing Analytics
- 86. Which color had 21% more conversions?
- 87. Which page had +1,363% CTs?
- 88. Which page had +1,363% CTs?
- 89. Which page had +1,363% CTs?
- 90. Which page had +1,363% CTs?
- 91. ROI: How high is up? How high is up? Tools Testing Analytics
- 92. Tools Abound
- 93. Integrated Solutions Marketing Sherpa Radian6 Eloqua IT Guys Google Analytics Web Position Gold Wordpress Courtesy of Hubspot
- 94. ROI: How high is up? How high is up? Best Practices Tools Testing Analytics
- 95. Case Study: Content& Analytics Interactive Marketing Co.
- 96. Case Study: Small gains grow large returns Original Control PPC ad (Keyword) Business Software Award-Winning Business Software. Fully Integrated. Free Trial www.NetSuite.com/Businesssoftware Winning PPC ad Business Software Suite #1 On-Demand. 6459 World Clients. Award-Winning Solution Free Trial www.NetSuite.com/Businesssoftware +302%
- 97. 95% Traffic IncreasePumping and Dredging Co.
- 99. Find the story and blog:Subscribers grow to 4,500Fence and Mesh Co.
- 100. Closing Ratio from 15% to 85%Pool Co.
- 101. ROI Upside
- 102. ROI Upside
- 103. ROI Upside
- 104. ROI Upside
- 105. Profit’s Peak
- 106. The process is clear but takes work.
- 107. Bottom Line Process Re-Frame Align Strategically Establish Marketing Foundation Establish Online Foundation Establish Social Media Foundation Evaluate Social Media Alternatives Use ROI Enhancement Tools
- 108. Bottom Line Marketing Is a Systematic Process
- 109. Resourceswww.metznik.com/vistage-may-2011 Presentation Slides Worksheets Traffic Report Website Grade New Worksheets (e.g. Website Re-Launch 110 point Checklist Social Media Toolkits (in development) Vistage Social Media Group Forums (planning)
- 112. Comfort Level With Digital Change
- 113. Websites
- 114. Social Media
- 115. Facebook
Editor's Notes
- DeliverablesProcess to improve the return on your marketing investmentCreate a comfort level with digital change: websites, blogging, social media, Facebook
- How many can identify with this Vistage member? His frustration, helplessness?
- Here are thoughts that have been expressed. What is the common denominator? Emotion.
- Here are thoughts that have been expressed. What is the common denominator? Emotion.
- This change has taken youout of comfort zone, caused you to look at Social Media emotionally rather than the unemotional, rational way you might normally react. The stumbling block is that digital change doesn’t fit into the known success process.
- This change has taken youout of comfort zone, caused you to look at Social Media emotionally rather than the unemotional, rational way you might normally react. The stumbling block is that digital change doesn’t fit into the known success process.
- With this background, what does the road to profits look like?
- Keep your eye fixed on the goal. The path to profits begins with customers. The more customers, the more sales, the more profits.
- We need a systematic marketing process.
- Bring you back to your comfort zone.
- ROI is based on a constantly refined system.
- Think of your business as a train. The engine is the business strategy. It pulls marketing. Marketing pulls Social Media. Social Media cannot pull the train.
- Investment= $, times, resourcesOptions=alternative, ingredient, part of a portfolioMeasurable=positive, quantifiable, bankable
- When I look at it this way I tend to ignore the distractions about Likes, pages, groups.
- Start at beginning to build a process to improve marketing ROI.
- This is another way to look at Business Strategy as the engine, how it is aligned.
- Our focus today.
- Marketing is transitioning from outbound to inbound forms. Outbound marketing is all about gaining attention. It’s the sledge hammer approach.
- This is how the new inbound sales funnel works. It’s a barter of valued content for personal information. It’s about building a relationship.
- You can’t sell to someone who is in the introduction stage.
- Trusting you with information.
- There’s a power shift happening. Have you heard about the change from the selling cycle to the buying cycle? The selling cycle is characterized by having the power of information with the seller.
- Internet has changed information flow. Buyer as prospect can learn before contacting you, is closer to decisions, has fewer questions, you have less time for consultative selling, you are welcomed later in the process, and there is a greater focus on price.The good news is that if you understand this process, you can regain leverage.
- One of the most powerful marketing tools is the persona. Photo: http://www.flickr.com/photos/pasfam/EntrepreneurLate 40s with a familyPressed for timeWants it “now”Made it on his ownMay have inherited a business, but success is all hisDrove himself hard to succeedAverage project $500,000Well-to-do but not wealthyTravels first class but does not own a planeHas an $8MM home but not an $8MM vacation home His house, landscaping, decorations, and the ability to enjoy it all in a carefree manner make his hard work, long hours, drive, passion, and sacrifice all “worth it.” It is his reward and validation for what he has accomplished. He is not finished, however; he is always “on”, literally (he is constantly on his Blackberry) and figuratively (thinking and planning how to build on what he already accomplished). Adding to his satisfaction is the knowledge that he made as good a deal on the landscaping as he has in his business.
- Here is the end result of a persona I crafted with a high end landscape and design company, a Vistage member. It’s power is the ability to get to the core of the buying motive with graphic, powerful motives and symbols.
- I would look for weaknesses.First I’d check your online traffic and compare it to mine.Are you getting found online? What is your traffic rank? Your competitors’ rank?Photo: flickr.compujeramey.444507607_d867f1a8be_b
- I would look for weaknesses.First I’d check your online traffic and compare it to mine.Are you getting found online? What is your traffic rank? Your competitors’ rank?Photo: flickr.compujeramey.444507607_d867f1a8be_b
- This is the way it’s done.
- This is the way it’s done.
- Let’s use a familiar, practical example of how to tie in these ideas and start to manage ROI.
- Common to underestimate on going costs.
- Some elements of return are hard to calculate.
- Second worksheet: handout
- The new marketing rules say, “Don’t talk about yourself talk as yourself. Give, don’t ask.” We have to be careful to establish a relationship or all the customer will hear is “buy, buy, buy.”
- Getting the buyer’s attention means more than a meeting.
- Progression of options.
- Research: ambassadors, co-creators.
- Describe this chart.
- Third worksheet: handout
- Being on Facebook is like holding a tiger by the tail. Constantly evolving and requiring attention. It is elegant, moves quickly, commands attention, but watch out if you don’t feed it.
- Photo: http://www.flickr.com/photos/gordontarpley/
- Photo: http://www.flickr.com/photos/gordontarpley/
- Analytics help you manage for higher returns.The event ticketing site Eventbrite has documented that they see $1.34 in revenue from a Like as opposed to a Tweet that averages $.80.
- Dan Zarrella: The science of email marketing with over 9 billion data points. Double: 4.5% to 9.0%.
- Caution: early is also time of highest unsubscribe. High of 11% to a low of about 4%.
- Are you optimized for mobile marketing?
- Photo: http://www.flickr.com/photos/gordontarpley/
- Earlier this week I came across an article by Performable that explained how changing their call-to-action from green to red increased conversion by 21%. Believe it is due to contrast vs. a mostly green website.
- http://whichtestwon.com/“A” Left side: We gave this test WhichTestWon’s Gold Award because it is a such a classic “radical declutter” test. (Note: that doesn’t mean decluttering always wins tests, but they are *always* worth testing!)Among other things, Version A’s stripped-down design had no nav bar, less copy, no happy-woman-image. The headline also focused on benefits more strongly.
- http://whichtestwon.com/Getting barcodesconverstion.“A” Left side: We gave this test WhichTestWon’s Gold Award because it is a such a classic “radical declutter” test. (Note: that doesn’t mean decluttering always wins tests, but they are *always* worth testing!)Among other things, Version A’s stripped-down design had no nav bar, less copy, no happy-woman-image. The headline also focused on benefits more strongly.
- http://whichtestwon.com/“A” Left side: We gave this test WhichTestWon’s Gold Award because it is a such a classic “radical declutter” test. (Note: that doesn’t mean decluttering always wins tests, but they are *always* worth testing!)Among other things, Version A’s stripped-down design had no nav bar, less copy, no happy-woman-image. The headline also focused on benefits more strongly.
- http://whichtestwon.com/“A” Left side: We gave this test WhichTestWon’s Gold Award because it is a such a classic “radical declutter” test. (Note: that doesn’t mean decluttering always wins tests, but they are *always* worth testing!)Among other things, Version A’s stripped-down design had no nav bar, less copy, no happy-woman-image. The headline also focused on benefits more strongly.
- Photo: http://www.flickr.com/photos/gordontarpley/
- Inforgraphic
- Integrated systems have the benefit of talking to each other, lowering costs, and in some cases minimizing specialized IT talent.
- Photo: http://www.flickr.com/photos/gordontarpley/
- From Marketing Sherpa: on Bonsai Interactive Marketing and combining analytics with content development in an integrated content network consisting of company website, personal blog, Twitter, Facebook, YouTube, and partner websites. Subscribers went from 500 to 5,200 and unique views per month from 4,000 to 30,000.
- http://www.marketingexperiments.com/images/multifiles/articulate/webclinic-01-19-11/player.html Value Proposition. The ppc lesson led to integrated improvements in landing page CTs and form completions. Overall, +268% revenue and -66% CPA . Overall profits increased by 302%.
- SRS Crisafulli Montana-based pumping and dredging company. Through lead management tools, keyword graders, CMS, and source tracking, increased organic traffic 95% in 14 months, dropped PPC spending, and improved lead quality. http://www.hubspot.com/customer-case-studies/
- 360 Signs (commercial signage in Austin, Texas, used blogging, link analysis, CMS, and competitive analysis to increase organic monthly traffic by 700%, double the number of daily leads, and reduced PPC spending. From http://www.hubspot.com/customer-case-studies/
- Louis E. Page family owned and operated fencing and mesh company, from 1893, with 6 employees. By blogging and optimizing webpages he increased blog subscribers to 4,500 for “The Fence”, generated over 2,100 organic leads in 2010.
- The Pool guy embraced best practices, particularly content development, and saw his closing ration go from 15% to 85% in 2 years by getting found through content and using content to lead the prospective buyer via education through the sales funnel. Tipping point: viewing 30 different content pieces.Marcus Sheridan/ River Pools and Spas.
- Increase visitors 100%.
- Increase lead conversions by 50%
- Improving sales conversions by 50%. This demonstrates the value of compounding performance with the “getting found” and “sales funnel” best practices.
- We all work hard. That’s a given. What I hope I contributed to you today is a systematic process; follow it and you will improve your ROI.
- ROI is based on a constantly refined system.
- First worksheet: handout
- DeliverablesProcess to improve the return on your marketing investmentCreate a comfort level with digital change: websites, blogging, social media, Facebook