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EssilorIDD.com Intern Project 2014
- 2. Presentation Agenda Internal & External Customer Research Evaluated Possible Developers Cost Analysis Recommendation Plan
- 4. 76.4% New Users 24.6% Returning Users User Profile Bounce Rate 66.4% Sessions Bounces 339 66.4% Overall EssilorIDD.com vs. Essilorlabs.com User Profile 24.6% New Users 76.4% Returning Users Bounce Rate 16.41% Sessions Bounces 4,244 16.41% Overall 927 Page Views 301 Users 25,632 Page Views 2,103 Users
- 5. Feature Rankings Top 3: Marketing Resource Library, Reporting, Online Directory 0% 10% 20% 30% 40% 50% 60% 70% Marketing Resource Library Calendar Uploading Feature Customizable Interface Reporting Messaging Online Directory Tracking *Scores were taken from responses from Personal Interviews from IDD Marketing, Wholesale Managers, and Lab Customers EssilorIDD.com New Features 1. Marketing Resource Library: A place where promotions, presentations, and product launch letters can be archived. Users would be able rate or analyze the materials as well. 2. Reporting Function: A place where STATS reports can be uploaded and the data filtered to create a standardized report. Users will be able to filter and search for data in the reports. 3. Online Directory: A place where Internal Marketing, WM, RVP, Labs, and Brand Reps contact information is listed. 4. Marketing/Industry Trends: On this web page customers can view what is happening across IDD as a whole, and see how they compare. IDD WM/RVP Labs
- 6. Reed Mitchell Bailey .com Strawn Solutions Warren Douglas 2.33 2.83 2.67 2.67 3.0 2.8 2.2 2.2 3.0 2.5 3.0 3.0 2.25 2.5 2.63 2.25 2.4 2.6 2.8 3.0 3.0 3.0 3.0 3.0 12.98 15.73 16.3 16.12 Total Price Reed Mitchell Bailey .com Strawn Solutions Warren Douglas 35% 42% 40% 40% 75% 70% 55% 55% 30% 25% 30% 30% 68% 75% 79% 68% 24% 26% 28% 30% 30% 25% 30% 30% 261% 263% 262% 253% $28,500 $55,000 $66,000 $108,000 $28,500 $1,500 Straight Score Weighted Score Strategic Vision Cost Timeframe Functionality Support Implementation Total Scores Price Criteria Website Developer Scorecard
- 7. Phase1 1 2 3 4Month 1: User Interface Design •Determining the right user interface and website design •Perfecting User Interface Month 2: Creative & Copy Design •Creative Treatment •Determining final site messaging and copy Month 3: Website Development •Website Development & Testing with IDD will begin •Bring in Essilor IT Month 4: Website Development •Website Testing will continue •Strawn Solutions will begin Data processing 5 Month 5: Site Launch •Website Soft Launch for IDD Marketing & WM in Month 5 Phase2 Possible Phase 2: Incorporating additional value content by integrating Essilorlenses.com & Salesforce.com Recommendation & Implementation Plan Site Launch: Weekly & Quarterly E-mail Blasts about Website Reed Mitchell Strawn Solutions 6
- 8. Recommendation & Implementation Plan
- 9. Recommendation & Implementation Plan
- 10. Overall Impact for IDD 1. Growth Opportunities • Historic data and reports at ones fingertips to show Labs how they can grow 2. Take Best Marketing Practices and Apply Them • Central Repository of Marketing Promotions • Analyze Marketing Success and ROI 3. Demonstrate Value of Partnering with IDD • What have you done for me? Overall Impact for IDD Identify Growth Opportunities + Faster Historical Data Analysis .3% Sales Growth Rate
- 11. EssilorIDD.com Investment ROI *Jobs and Average Sales price based upon year over year growth from 2013 and 214 sales Data excluding Global and 2014 YTD June Dashboards Knoxville (Small) Pinnacle (Medium) Walman (Large) Total IDD Estimated 2015 Jobs (Mar-Dec) 13,500 42,000 963,000 6,853,500 .3% Growth 40 126 2889 20,560 X Average Sales Price (Jobs) 36.51 28.43 31.67 33.33 .3% Growth Sales Dollars $1,479 $3,582 $91,491 $685,190 Contribution Margin 66.10% 61.50% 70.10% 69.72% Incremental Profit $977 $2,203 $64,136 $33,317 - Distributed Investment Cost $113 $394 $8,069 $46,500 ROI 763% 459% 695% 927%
- 12. Conclusion INNOVATE EDUCATE ADVANCE GROW With this new website, we are streamlining the way we communicate, collaborate, and share data to further advance and grow the Essilor brand, which will strengthen our relationships with our customers for years to come.
- 13. • Simone DeMarco • Bidisha Rudra • Kameron Brewer • Chris Baughman • Eric Shan • Ann Smalls • Shon Bjornburg • Mandy Lemon • Mark Johnson • Farah Rajan • Legia Abagato • Marc Wilson • Melanie Mills • Alyssa Chicoineau • Wilston Nkangoh • Tainy Kone • Kerri Jackson • Jose Alonso • James Schrick • Nick Turner • Chris Jones • Liz Brucken • Jeff Crooks • Dan Woekenburg Thank you!
- 14. Market Research Process Market Research Process • Primary Research • 30 minute Personal Interviews • IDD Internal Marketing • Wholesale Managers, 1 RVP • Lab Customer • Existing Resources • Marketing Hub • Iris Research Problem • “What features are needed for the website to become a more streamlined resource for Marketing, Wholesale Managers, and labs to use to connect, share and store marketing data in order to empower labs to be more effective in selling Essilor products?” Central Document Portal Filter Reports Faster Employee Transition Log Lab Customers Wholesale Managers IDD Marketing Central Portal of Essilor Information Track & Share Data Eye Train Resource Customization Triangle of User Needs
- 15. Feature Descriptions for Market Research 1. Marketing Resource Library: This would be a place where promotions, presentations, and launch letters can be archived to be downloaded for marketing purposes. You could search and filter material by date, lab, product, and by growth rate. Also, users would be able to leave notes and rate or analyze the materials as well. 2. Product Launch Calendar: A place where initiatives are documented. 3. Online Directory: A place where Internal Marketing, WM, RVP, Labs, and Brand Reps contact information is listed. This information will be secured by login access levels as to who can see what contact information. 4. Reporting Function: A place where STATS reports can be uploaded and the data filtered to create a standardized report. Users will be able to filter and search for data within the standardized reports. • Report #1: We want to see Jobs of Crizal by lab by month • Report #2: We want to see a breakdown of Crizal products by year by lab • Report #3: We want to see Jobs of Varilux by lab by month • Report #4: We want to see a breakdown of Varilux products by year by lab • Report #5: We also want to see total jobs done traditionally and digitally by month by lab. 5. Uploading Portal: A place where users can upload documents to the site to be put in the Marketing Resource Library. 6. Tracking Feature: (Google Analytics) A place where Admin can track, like Google analytics, what information is being downloaded, which pages are visited the most, and see user activity. 7. Marketing/Industry Trends: Link to the Essilor Newsroom, or rolling content on the webpage of news and stories from the Essilor Newsroom site. On this web page customers can view what is happening across IDD as a whole, and see how they compare. 8. Eye Train Page: This page would include the link to the Eye Train page, and possible webinars and literature not on the Eye Train website. 9. Messaging: Online form featuring an FAQ, and a forum for the three groups of users to ask questions to their respective Wholesale Manager or IDD Marketing contact. 10. Product Resource Page: This page would include tabs to the different product links, availability charts to download from the site, literature, and any media like videos or commercials about the products. Also this page will contain a link to the Essilor Youtube Channel for downloading videos.
- 16. Feature Descriptions for Market Research Feature IDD Marketing Wholesale Managers Lab Customers Marketing Resource Library X X X Calendar X X X Online Directory X X X Reporting Function X X Uploading Portal X X Tracking Feature X Marketing Trends X X X Eye Train Page X X X Messaging X X X Product Resource Page X X X
- 17. Feature Rankings and Development for Market Research 14 3 0 3 0 2 Content is not Updated Doesn't have info need Info is difficult to find Resources are located elsewhere I have never used the site Other 0 2 4 6 8 10 12 14 16 Why isn't the website being used? Series1 43% 14% 29% 14% Additional Features Wanted on the Website Market Trends More Essilor/Industry Info Links to Essilor Resources Update Information (Media, Product) Overall, 67% of those interviewed are not using the website. The top reason was that the content is not updated, followed by the site not having the information they need, and that the resources they need are located elsewhere. The top feature was the Marketing Resource Library in which the top three documents wanted were Presentations, Promotions, and Eye Train information. In addition to the features listed 43% of people wanted to see Market Trends on the website, followed by links to Essilor Resources.
- 18. Feature Rankings and Development for Market Research Market Research Process • Secondary Research • Website Research • Vision Monday • Entrepreneur • NY Times • Eyecarebusiness.com • Website Analysis • Google Drive • Apple • Blackboard • Me.com • Amazon “Content is King. And it’s true… But you have to provide some sort of value. Teach them something. Entertain Them. Do something that makes it worth their while.” - Thomas Armitage, Entrepreneur Magazine Overall Conclusion: The website is not up to date because no one uses it. The website is informative about Essilor and its products, but lacks content and that would engage users. The websites features do not provide any added value or benefit to its intended audience.
- 19. Website Evaluation Method 2.5 4 3 2 3.7 2 Needs Improvement Exceeds Expectations Meets Expectations Response Audience TargetingContent Currency Quality of Information Objectivity and Purpose Design & Organization Criteria 1. Audience Targeting: Is the website being used by its intended audience for its intended purpose? 2. Quality of Information: Is the website’s information credible, informative, and relevant? 3. Objectivity & Purpose: Does the website convey the purpose of IDD and strengthen IDD’s brand? 4. Content Currency: Is the content up to date, and are all resources accessible? 5. Design & Organization: Is the website easy to navigate, consistent, and flow in a logical manner? 6. Responsiveness: Does the website have elements that encourage visitation, engage users, and have an incentive to use it? Overall 2.87 Needs Improvement
- 20. Developer Scorecard Evaluation Criteria Criteria 1. Strategic Vision: Does the developer understand and capture the purpose, audience, and elements for the website? 2. Cost: Does the developer’s proposal stay within the required budget, and represent a reasonable amount for industry standards? 3. Timeframe: Is the timeframe reasonable, and fall within our timeframe for website development? 4. Functionality: Can the developer support and create all requested features? 5. Support: Will the developer be easy to work with, and will he be able to offer help and support for the site? 6. Implementation: Does the developer have experience working with Essilor and work with Essilor IT’s requirements? Weights Feature Weight Strategic Vision 15% Cost 25% Timeframe 10% Functionality 30% Support 10% Implementation 10% Total 100%
- 21. Phase 2: Essilorlenses.com Integration Essilorlenses.com Information • ELART (Essilor Lens Availability & Reference Table) • Technical Specifications • Index Refraction • Product Coating • Lens Thickness • Visible & UV light absorption • Base curve availability • Surfacing charts • Product Availability • Check Item Status • Availability Dates
- 22. ROI Calculation Method Ex. Walman 2013 -14 Jan-July Sales Data Growth 11.69% 0 50,000 100,000 150,000 200,000 250,000 Jan Feb Mar Apr May Jun 2013 2014 2015 Labs Growth Rates Knoxville 5.24% Pinnacle 1.46% Walman 11.69% Lab Growth Rates Labs Sales % to IDD Knoxville .24% Pinnacle .85% Walman 17.35% Distributed Investment Cost Rates
- 23. ROI Calculation Method *Percentage growth based on statistics from IBIS World Industry Reports – Data Processing and Hosting Services - Website Knoxville (Small) Pinnacle (Medium) Walman (Large) Total IDD Estimated 2015 Jobs (Mar-Dec) 13,500 42,000 963,000 6,853,500 .3% Growth 40 126 2889 20,560 X Average Sales Price (Jobs) 36.51 28.43 31.67 33.33 .3% Growth Sales Dollars $1,479 $3,582 $91,491 $685,190 Contribution Margin 66.10% 61.50% 70.10% 69.72% Incremental Profit $977 $2,203 $64,136 $33,317 - Distributed Investment Cost $113 $394 $8,069 $46,500 ROI 763% 459% 695% 927%
- 24. Tracking ROI with Google Analytics Lifetime Value: • STATS 2013 Sales Data • 253 business days 3 times a day = 759 # orders per year Lead Value: Knoxville Pinnacle Walman 2013 Sales 413,744.6 938,098 21,500,773 # Orders 1,550 1,512 1,551 Average Value of a Sale 266 620 13,862 Retention in Years 2 2 2 LTV 403,788 941,160 21,042,516 Conversion Rate .001 .001 .001 Lead Value $403 $941 $21,042 Lead Generation
- 25. What’s in it for me? IDD Marketing Central Repository of Data to sort, filter, and share faster Analyze and Evaluate Promotions Aid in transitioning faster Wholesale Managers & RVP Quantify Promotion Values Faster & More Reporting Access anytime & anywhere Lab Customers Centralized Portal for Essilor IDD Information Easier to do Business with us Access anytime & anywhere
Editor's Notes
- Hello, my name is Claire Mosley and I want to thank you all for being here today to listen to my presentation. This summer, I was given the task to assess the current value of the IDD website, and in what ways it can be improved and streamlined in order to better serve IDD internally and our Lab customers.
- Over the course of this summer, I have gathered internal and external customer research with IDD Marketing, WM &RVP’s, and our lab customer to determine areas of improvement and possible streamlined solutions for the website, as well as evaluate possible developers, and develop a cost analysis and recommendation plan for how to move forward with this project. I began my research by mapping the current process of how communication, collaboration, and retrieving information happens within IDD Marketing, and how the IDD website fits into that equation. I created this video to give you a visual taste of what a day in the life of IDD Marketing looks like.
- Wasn’t that confusing and overwhelming? What I hope to have shown you through that video is just how chaotic the current process of accessing information from different resource platforms in different places can be. In addition, I wanted to convey how frustrating it can be to go through all these different platforms to get information when there could be a simple streamlined solution. This is the purpose of Essilor IDD.com. Now, let’s see how well it is currently fulfilling that purpose.
- EssilorIDD.com’s analytics reveal that within the past month of June, the website has had 927 page views from 301 users. Just to give you a comparison, the Essilor Labs website, a similar channel website, received 25,000 page views per month, with approximately 2,000 users. Now, while ELOA and Partner consist of a larger lab customer base, our current page views per month still don’t reflect usage from all of our employee’s and customers. The user profile of the IDD website consists of 76.4% new users, leaving 24.6 % as returning. Compare this data to our other channel website, and the results are staggering, they are exactly opposite. We can also learn a lot from our website’s bounce rate. The bounce rate represents the percentage of single page visits. Meaning that out of 339 sessions or visits to the website, 66.4 of our users left our website from the homepage without interacting with any other pages on the site. Compared to Essilorlabs.com which has a good average 16.41%. In summary, these analytics reveal a large problem. With ¾ of our user base only visiting the website once within a month, the data shows that there must not be enough relevant content on the website for our users to keep coming back.
- After analyzing the website’s analytics, I compiled a list of the possible features and tested them via personal interviews with each potential user group. They included: A Marketing Resource Library to store promotions, presentations, and launch letters. A Product Launch Calendar An uploading feature Customizable Interface - which entails separate Login’s and interfaces for each user to allow different levels of access to data Reporting Function- A place where standardized reports will be created from STATS data. This feature will include an ROI calculator. Messaging Online Directory of Internal Marketing, Wholesale Manager’s and RVP’s, Lab Customers, and Brand Reps. Tracking with Google Analytics Of the features, the top rated were the Marketing Resource Library, Reporting Function, and Online Directory. Most popular additional features suggested were a Market Trends page, Product Resource Page, and Eye Train page- which is our online learning and reward program site for IDD customers. In moving forward with the redevelopment of the website, the final list of enhancements included all the original features, plus an updated Product Resource Page, Eye Train Page, and a Market Trends features which will display IDD trends as a whole compared to a specific lab across Essilor products.
- With this information, I approached 4 developers to redesign the website. I created a Developer Scorecard to evaluate each developers proposal on the criteria of strategic vision, cost, timeframe, functionality, support, and implementation. Among the developers, you will see that the total scores were all very close in proximity, yet 2 developers, Reed Mitchell and Strawn Solutions, stood out in terms of understanding the vision the website, and having experience working with Essilor and our lab customers. Reed Mitchell’s expertise is in website design and architecture, and has worked on IDD’s new Eye Train page, and the Power of 3 promotion- a consumer incentive program for Varilux, Crizal, & Transitions. Strawn Solutions expertise in is data processing and management, and has worked with IDD creating our Door to Door promotion website- a customized program for brand reps and ECP’s, and he currently uploads data for ELOA and Partner Labs to various platforms. Now, with each developer working alone, I couldn’t get exactly what I was looking for in terms of design and what it came down to functionality wise, data processing. But together, Reed Mitchell & Strawn Solutions can provide exactly what the website needed in terms of design and functionality. In order to not lose out on their expertise, and to shelter the cost of the website, I recommend moving forward with both. By splitting up the website, we are able to drive the initial investment cost down to $28,500 with Reed Mitchells working on the website’s design and architecture, along with a $1,500 monthly data processing and fee to Strawn Solutions for the sites data processing and management features. The total investment for this website comes out to $46,500 for the first year, and $18,000 annual support fee thereafter.
- Next, I created an implementation plan of how to move forward with the redevelopment of the website. The website will take 6 months to complete, in which I recommend the official launch to take place in Q1 of 2015. The first 2 months will be devoted to developing the user interface and design for the website, then the next 2 months will be devoted to the website development and coding, and the last 2 months will consist of soft launches with IDD Marketing and WM then our launch to our customers. Since Reed Mitchell will be building the bulk of the site’s interface and design, IDD will work with them heavily from start to finish with this website. IDD will begin working with Strawn Solutions in the 4 month during the website development and coding phase to begin testing the data processing feature and begin uploading STATS data to the website. A possible phase 2 of this website would be incorporating additional value content like the specs information from Essilor lenses.com. This would help consolidate more platforms of information for our customers, since they are large user base of Essilor lenses. In the end, by working with 2 developers, not only will this project be cheaper, but we will be able to accomplish the development of the website within 6 months with all of its listed capabilities.
- I also worked with a creative freelancer to put together the vision for the design of the new website. What you see here is a possible home page for the new IDD website. In the right hand corner is the log in information, and along the top will be the icons that will take you to the home page, marketing resource library, reporting function, product resources pages, online directory, messaging, and eye train. At the bottom is a scrolling feed from the Essilor news room, because we want to help our lab customers communicate to their ECP’s in consumer friendly way, and help them drive those conversations as well.
- This is an example of a possible user log in home page. Once a user has logged into the IDD website this will be their home display. They will have their icons up at the top, as well as be able to see any updated new and information displayed here, recent links they clicked on, browse the marketing resource library for presentations or promotions, and see a full list of their running programs here. We have a search spotlight if they are needing to find anything on the website, as well as our product launch calendar which will be updated here.
- So, at this point in the presentation you are probably thinking, what is this investment really worth to IDD? Well, let me paint you a picture. First, and foremost, this website will help IDD identify more growth opportunities with our lab customers. With a click of a button we will have historic data and reports at our fingertips to see the full picture of a lab’s profile, and be able show and identify their growth opportunities, as well as where they stand in comparison to IDD as a whole. Secondly, this website will help IDD Marketing take our best marketing practices and apply them. With a central repository of marketing promotions, we will be able to start tracking our programs and analyzing their success and ROI’s in an easier and more effective way. We will be able to track the growth of our premium products, and identify programs to boost those products for our labs. Lastly, this website will help IDD demonstrate the value of partnering with us. Lab’s will no longer have to ask, What has Essilor IDD done for me? They can log onto our website and see all of their past and current promotions, reports, IDD trends, and have access to all of their Essilor and IDD links in one place. By streamlining the way we give our labs access to this data, we can make partnering with us to do business easy and effortless. So with all of these benefits, how does this project impact IDD as a whole? Well with all of the information we are putting on the website, this website has the potential to impact IDD’s sales. Based off of outside research, websites like this have generated up to 4.1% in sales growth and 4.4% in revenue for many businesses. Now, because we will be able to identify growth opportunities and provide faster analysis for our labs with this site, I believe that along with all of the incentives and programs IDD creates for our lab customers, that we can capture a conservative .3% growth in sales. That .3% would reflect all of the value added content that our users will be viewing and using on our website. So, with that being said, let’s take a look at the potential return for this project.
- To calculate the ROI for this website, I chose to break it down by showing the impact this website can have on the sales of a small, medium, and large lab since no 2 IDD labs are alike. I used 2013 and 2014 sales data to find the average year over year growth in units from January to June for each of these labs. Assuming growth remains the same, I projected an estimated 2015 sales units in which I converted to the jobs you see here. The estimated jobs reflect the website launch in February or March of 2015. With the .3% growth we can attribute to the site along with IDD incentives and programs, I found each of these labs projected incremental profit. Since I chose to break down this analysis by these 3 different lab groups, I also distributed the investment cost of the website for its first year, $46,500, according to each of these lab’s sales percentage for IDD as a whole. From there I calculated the different ROI’s, in which you can see that the website has an overall positive ROI for IDD of 927%.
- Based off of all of these benefits, you can see this website will contribute positively to IDD as a whole, and has a lot of potential to help IDD and our lab customers grow. Therefore, my recommendation is that this website is worth the investment. Not, only does the redevelopment of this website emphasizes the direction that IDD is taking for its future, and align with IDD’s value proposition, but by investing in this website, we are streamlining the way we communicate, collaborate, and share data to further advance and grow the Essilor brand which will in turn strengthen our relationships with our customers for years to come. This concludes my presentation…
- And I want to once again, Thank you for being here, and a big thank to everyone who has helped me with the development this proposal and presentation. I will now open up the floor for questions.
- I created a Marketing Research Report that included the methods I chose to conduct my research, my research problem, and hypothesis that I was accessing. With that said, I conducted 30 minute personal interviews with IDD Marketing Managers, Wholesale Managers, 1 RVP, and Lab Customers. I also evaluated and checked out existing resources like Iris, and the Marketing Hub to make sure we weren’t re-inventing the wheel. From my interviews I asked open ended, and ranking questions about the current usage of the website and what they would like to see on the website. From my interviews I organized the main needs for each user group, as you see here. All of the these needs build upon each other so The needs of the WM include the needs of the lab customers, and so forth.
- From my interviews specifically I discovered 67% weren’t using the website, with the top reason being it was not up to date, didn’t have the information they needed, and the resources they needed were located elsewhere. The top feature customers wanted to see added to the website was a Marketing Resource Library in which they wanted Presentations, promotions, and eye train information featured. In addition to the suggested website features, 43% said they would add a Market Trends feature on the website followed by more links to Essilor Resources.
- My secondary research included learning more about the website development world. This included looking at features on successful websites, and why users liked them. I also looked at website trends, and responsive web development. All of my research kept focusing on a central idea summed up here by this quote from Entrepreneur Magazine “Quote” Overall Conclusion was: “read conclusion”
- While the Google analytics reports give a lot of great information about what is going on with the website as a whole from user traffic, it doesn’t provide any information about quality of the website. So, to help better identify and quantify the areas of improvement for the website I created a website evaluation worksheet. I kept in mind the mission and purpose of our website while doing some research about how to measure a website, and came up with these 6 criteria. Under each criteria there were 4 to 5 questions which were given a score from 1-5 with 1 being a strong no, and 5 being a strong yes. I averaged the scores to come up with the overall score pictured in the graph. The category audience targeting measured if the website was being used by its intended audience and for its intended purpose. Quality of information measured if the websites information was credible, informative, clear, and relevant. Purpose measured if the website conveyed the purpose of IDD and if it strengthened IDD’s brand. Content Currency measured how up to date the content was and if all links were working,ect. Design and ease of use measured if the sites was easy to navigate, consistent, and flow in a logical manner. Responsiveness measured if the website had elements that encouraged visitation, engaging, and had an incentives for its use. Based off of the analytics and responses from our personal interviews I filled out this sheet and discovered some important things. Mainly, that our customers want to use the website, the design and quality of information on the site is not the problem.
- In order to evaluate the developers and their proposal, I created an evaluation criteria worksheet, much like I did to evaluate the website. I thought this would help me identify the strengths and weakness of each of the proposals, and determine which developer and proposal had the elements that could meet our needs for the website the most. The weights are listed for these rankings in the table, with functionality, followed by cost and strategic vision being the most important. The biggest thing for us with this website was making sure all the functionality requirements can be met in regards to all the features on the website. For without the features, there will be no website. Then was cost, I wanted to make sure that this website wasn’t costing an arm and a leg because it shouldn’t. Next was strategic vision, because not only is it vital to chose a developer that will be able to offer all of the features we were asking, but also to make sure they understood the purpose of the website and who was going to view it, our customers. If they don’t understand our vision and the users that are using this website, we will struggle in developing a user interface and design that will appeal to them.
- How I calculated Lead Generation: The first step was finding the lifetime value of a client. Since, IDD has many customers and the differ in size, I choose to find the lifetime value of small, medium, and large customer, Knoxville, Pinnacle, and Walman in that order, to show the value the website can bring in generating leads for IDD within those 3 categories. To find the lifetime value for these three different types of labs, I took their sales for 2013 divided by the number of sales orders for the year in order to find the average value of sale. I then multiplied this by the number of transactions/orders labs are averaged to order per year, then multiplied it by the average retention time of these customers – for a rule of thumb I measured it out if we were able to keep their business for the next 2 years. These numbers represent the lifetime value of 3 of our customers from a small, medium, and large lab. Now, in order to find the lead value for these customers I took their lifetime value times a conversion rate of 1%. Since the past is usually a good predictor of the future, I took each of these labs sales data for 2012, and calculated their 2013 sales growth. I then averaged the 3 labs growth, and if IDD follows this trend, with the value added information we are putting on the website we can correlate some of this potential growth to the website. On the conservative side we estimated just .1% This gives us our lead value. The value we can assign actions on the website in which help improve customer relationships, and generated leads for sales. For these actions include user registrations, downloads of Marketing Materials or reports, E-mail notifications sign ups, time spent and views of certain value added pages. This conversion value can change after the website is launched based on growth from the previous years to come after the website is launched.
- So by this point in the presentation you are probably thinking, what’s in it for me? Or IDD? Let me paint you a picture. For IDD Marketing this website will be a central repository of valuable data- promotional documents, presentations, launch letters, spreadsheets, STATS reports, and more. With this website, you will be able to sort and filter this data, share it with WM, management, and Lab Customers with the click of a button. Within in seconds. That’s valuable time that will be added for you to focus on the million tasks you have at hand. You will also be able to analyze and evaluate promotions faster and easier. With access to automated STATS reports and the ability to sort and filter among labs you can evaluate the direct results of a promotion on sales. With the ability to leave comments and tag documents in the Marketing Library, you will be able to organize all documents used for a certain promotion and leave comments about its success. Lastly, this website will help those new to IDD come up to speed on customer accounts faster by being able to pull up past and current account data with the click of a button. For our Wholesale Managers and RVP’s this website will allow you to quantify promotion values to their lab customers. You will be able to receive certain STATS reports faster, and be able to show the link between promotions & sales with our customers. They will have all of this data- presentations, promotions, STATS reports at their finger tips to show our customers the value we are bringing to their business. In addition, reports and IDD trends will be automated and uploaded on a monthly basis. You will be able to show your customers where they are compared to IDD trends as a whole, and their growth. And one of the best benefits of this information being on a website, is that you will have access to it anytime and anywhere. Lastly, for IDD as a hole with all of this information on a website we can quantify and track its success to the business as a whole. Because of the valuable information we are putting on the website, using Google Analytics, we can quantify how the website helped set and facilitate a sale, or determine the monetary value of making meetings with our customers more efficient, and track that for years to come.