Marketing Metrics That Matter - PRI
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Professional racer-turned marketing and business strategist Tom Marx discusses how small businesses can benefit from tracking and understanding sales, marketing, public relations and social media figures.
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Marketing Metrics That Matter - PRI
- 1. MARKETING METRICS THAT MATTER Presented By - Tom Marx © 2013 The Marx Group
- 2. WHAT ARE MARKETING METRICS? © 2013 The Marx Group Data and statistics that help determine the effectiveness of a marketing program 2
- 3. WHAT ARE WE MEASURING? • Brand awareness • Engagement • Conversion © 2013 The Marx Group 3
- 4. WHY ARE METRICS IMPORTANT? © 2013 The Marx Group Accountability Establishes goals Gauges success Provides focus Allows opportunity to learn and improve • Proves value of the specific marketing tactic… • • • • • 4
- 5. WHY DO METRICS MATTER? ROI © 2013 The Marx Group 5
- 6. The RIGHT metrics need to be made available to the RIGHT people. © 2013 The Marx Group 6
- 7. WHO NEEDS METRICS? • Marketing team • Sales team • Management © 2013 The Marx Group 7
- 8. WHAT MAY BE HAPPENING © 2013 The Marx Group • Lack of accountability • No review of analytics • Sales and Marketing are in silos • Paralysis by Analysis • Confusion, lack of focus 8
- 9. What is REALLY important? © 2013 The Marx Group 9
- 10. WHAT IS REALLY IMPORTANT Focus your efforts on key metrics that will provide the greatest impact © 2013 The Marx Group 10
- 11. Brand Awareness MARKETING CONVERSION FUNNEL Engagement & Interest Conversion & Loyalty © 2013 The Marx Group 11
- 12. METHOD © 2013 The Marx Group 12
- 13. Ready • Define your goal • Make one person accountable © 2013 The Marx Group 13
- 14. Aim • Design your program • Make sure it’s measurable © 2013 The Marx Group 14
- 15. Fire! © 2013 The Marx Group 15
- 16. Evaluate • Measure your progress © 2013 The Marx Group 16
- 17. Adjust © 2013 The Marx Group 17
- 18. © 2013 The Marx Group 18
- 19. Do digital, and do it well © 2013 The Marx Group 19
- 20. TOP 5 METRICS THAT MATTER 1. ADVERTISING & PR 2. WEB TRAFFIC & CONVERSIONS 3. SEO 4. EMAIL MARKETING 5. SOCIAL MEDIA © 2013 The Marx Group 20
- 21. EMBRACE YOUR TOOLS • Google Analytics • Constant Contact • HootSuite © 2013 The Marx Group 21
- 22. #1 ADVERTISING & PR © 2013 The Marx Group 22
- 23. “I can’t measure ROI on print advertising.” (print!) ADVERTISING © 2013 The Marx Group FALSE! Yes you can, if you define what you want to measure, and build your ad accordingly 23
- 24. (print!) ADVERTISING You CAN measure ROI on print advertising. CALL TO ACTION >>> CONVERSION © 2013 The Marx Group 24
- 25. “Digital advertising is all about impressions.” (digital!) ADVERTISING © 2013 The Marx Group FALSE! If you are sales focused, it’s about click thru and conversion 25
- 26. (digital!) ADVERTISING © 2013 The Marx Group You can have 100,000,000 impressions, but if you aren’t getting the conversion rates you need, it doesn’t matter 26
- 27. Your April ad campaign has a call to action of “buy 2 sets of engine bearings and get 2 free” ADVERTISING EXAMPLE! © 2013 The Marx Group What metrics do you track? • Increase in sales • Number of clicks from digital ads - and clicks that lead to a purchase 27
- 28. “There is no value in PR.” PUBLIC RELATIONS © 2013 The Marx Group FALSE! There is great value in PR once you define your expectations 28
- 29. PUBLIC RELATIONS © 2013 The Marx Group Set expectations. Measure your pickups. Drives brand awareness. Delivers credibility. 29
- 30. During your new product launch you distribute a press release. What do you track? PUBLIC RELATIONS EXAMPLE! • • • • © 2013 The Marx Group Number of times your release was published Number of editorial opportunities created During product sales over the next 6 months – ask how they heard of the new product Track click thrus to a dedicated landing page 30
- 31. #2 WEB TRAFFIC & CONVERSIONS © 2013 The Marx Group 31
- 32. “My business isn’t driven by E-commerce, so my website isn’t a priority.” WEBSITE TRAFFIC © 2013 The Marx Group FALSE! Your website is your most important piece of owned media. 32
- 33. • Build your site with goals in mind • Content • Engagement • Traffic Analytics WEBSITE TRAFFIC © 2013 The Marx Group 33
- 34. Analytics: WEBSITE TRAFFIC © 2013 The Marx Group What you should be tracking. – Traffic sources – Repeat visitors – Page views – Conversion rates 34
- 35. WEBSITE TRAFFIC: Unique & Repeat Visitors © 2013 The Marx Group 35
- 36. WEBSITE TRAFFIC: Page Views © 2013 The Marx Group 36
- 37. WEBSITE TRAFFIC: Traffic Sources © 2013 The Marx Group 37
- 38. WEBSITE TRAFFIC: Traffic Sources © 2013 The Marx Group 38
- 39. WEBSITE TRAFFIC: Conversion First, define WHAT a conversion is for your website. • When a banner ad drives customer to purchase a product • PR that drives a user to view your white paper © 2013 The Marx Group 39
- 40. WEBSITE TRAFFIC: Conversion Rates Conversion Rate = © 2013 The Marx Group 40 # of Conversions Visits
- 41. EXAMPLE! Increase online sales. What do you track? • • new banner ad conversion $ amount of sales that came from that ad 1000 5% = 20,000 © 2013 The Marx Group 41
- 42. #3 SEO © 2013 The Marx Group 42
- 43. SEO “I have a website. If people search for widgets, they’ll find me.” FALSE! You need high rankings to be visible to your audience…you do this with Organic and paid SEO. © 2013 The Marx Group 43
- 44. WHAT IS SEO? Search Engine Optimization: The process of making a site and its content highly relevant for both search engines and searchers © 2013 The Marx Group 44
- 45. TWO WAYS TO APPROACH SEO © 2013 The Marx Group Organic & Paid 45
- 46. Search Engine Optimization provides: SEO © 2013 The Marx Group • Rankings • Traffic • Conversions 46
- 47. Danielle Russell, Automotive Industry Director at Google © 2013 The Marx Group ORGANIC “Own your digital shelf space.” PAID SEO 47
- 48. Be the leader in online performance cylinder head sales. EXAMPLE! © 2013 The Marx Group What do you track? • organic search engine ranking/position • Pay-per-click sales, from your paid SEO efforts • Key words 48
- 49. #4 EMAIL MARKETING © 2013 The Marx Group 49
- 50. EMAIL MARKETING “I can just use Outlook to email my customers. I don’t need another program to do that.” FALSE! Using an email marketing program allows you to learn what is (or isn’t) working…and automates list management © 2013 The Marx Group 50
- 51. EMAIL MARKETING © 2013 The Marx Group Stay focused on: • Content • Open Rates • Click thrus & forwards 51
- 52. Click-thru / Forwards >>> Cost per lead EMAIL MARKETING © 2013 The Marx Group 52
- 53. EMAIL MARKETING © 2013 The Marx Group 53
- 54. You want your customers to be aware of your new product. EXAMPLE! © 2013 The Marx Group What do you track? • Click –thrus to a landing page containing information on your new product • Sales – did the click-thrus lead to sales? 54
- 55. #5 SOCIAL MEDIA © 2013 The Marx Group 55
- 56. “My customers don’t care about social media.” SOCIAL MEDIA © 2013 The Marx Group FALSE! They do. So do their friends, their kids and your competitors. 56
- 57. SOCIAL MEDIA • Choose PLATFORMS that are relevant to your audience • It is all about ENGAGEMENT • REFERRALS – generate a call to action © 2013 The Marx Group 57
- 58. SOCIAL MEDIA ENGAGEMENT © 2013 The Marx Group 58
- 59. SOCIAL MEDIA © 2013 The Marx Group While Facebook offers its own analytics, HootSuite allows you to track analytics across multiple platforms. • Manage multiple social networks • Schedule posts • Track brand mentions • Analyze social media traffic 59
- 60. Your company’s Facebook page is holding an anniversary promotion. EXAMPLE! © 2013 The Marx Group What do you track? • Participants and engagement - # of people who comment and share your post - # of people who sign up for your promotion 60
- 61. Brand Awareness MARKETING CONVERSION FUNNEL Engagement & Interest Conversion & Loyalty © 2013 The Marx Group 61
- 62. 1. READY 2. AIM 3. FIRE 4. EVALUATE 5. ADJUST METHOD © 2013 The Marx Group 62
- 63. TOP 5 METRICS THAT MATTER: © 2013 The Marx Group 1. ADVERTISING & PR 2. WEB TRAFFIC & CONVERSIONS 3. SEO 4. EMAIL MARKETING 5. SOCIAL MEDIA 63
- 64. WHAT IS REALLY IMPORTANT Focus your efforts on key metrics that will provide the greatest impact © 2013 The Marx Group 64
- 65. Let’s Connect: tmarx@themarxgrp.com - (415) 453-0844, x106 facebook.com/themarxgroup linkedin.com/company/the-marx-group twitter.com/themarxgroup © 2013 The Marx Group 65