Biology for Computer Engineers Course Handout.pptx
Digital Transformation Strategies for Measuring ROI and Value
1. Topics to be covered
Digital Transformation
Digital Leadership Principles
Online Reputation Management.
2. Digital Transformation
Digital transformation is the process of using digital
technologies to create new — or modify existing — business
processes, culture, and customer experiences to meet changing
business and market requirements. This reimagining of business
in the digital age is digital transformation. Digital
transformation is the integration of digital technology into all
areas of a business, fundamentally changing how you operate
and deliver value to customers.
3.
4. Components of digital transformation
# Organizational Objective – The objective of digital business
transformation is to improve business performance.
# Digital Foundation – It’s based on a digital foundation.
Organizations are continually transforming with the use of one
or more digital technologies as a significant influence.
# Organizational Change – It requires organizational change
which includes processes, people, and strategy.
8. Digital Leadership
Digital leadership demands living by the enduring principles that make for success, and
augmenting them with new qualities that enable speed, flexibility, risk-taking, an obsession with
customers and new levels of communication inside the organization.
Digital leadership is the strategic use of a company’s’ digital assets to achieve business goals.
This can be dealt with both organizationally and at an individual level.
10. Online Public Relation
Online PR (online public relations) is the public relations work of communicators via available
online communication channels (and also communication tools). In addition to the online pages
of classic media, these channels include social media, blogs and websites.
Online public relations are a form of PR that takes place on the internet or through social
media channels. Normally, online PR goes hand-in-hand with whatever type of public relations a
company is doing non-digitally, but there are more and more companies these days that are
specializing their online public relations, giving them their own departments and hiring people
that are experts in social media, search engine optimization and online reputation
management to run those departments.
11. Sources for Online PR
Newspaper and magazine columns
Personal blogs
Professional blogs
Online directories
Social media
Web searches
12. Digital PR strategy
Publishing articles online to gain high-quality backlinks
Networking with journalists and editors to gain backlinks
Publishing press releases and syndicating newsworthy content to earn press features
Blogger outreach to gain backlinks and mentions on relevant blogs
Influencer marketing to gain mentions on influential social media accounts
Affiliate programs that pay a commission to bloggers who refer customers to your business
Offline press events or blogger events that aim to gain online coverage
Sharing and syndicating infographics
13. Goals of Online PR
1. Acquisition And Retention Of New Customers
2. Communication Of Information
3. Increase Of Attention
4. Creating A High Cost-benefit Ratio
5. Improving (Online-) Reputation
6. Measuring And Controlling Success
7. Achieving A High Degree Of Actuality
14. Benefits and Challenges of Online PR
The benefits of public relations include:
Influence – audiences are more likely to trust
messages coming from an objective source
rather than paid-for advertising messages. It
is one of the most credible forms of
promotion and can be persuasive.
Reach – a good story can be picked up by
several news outlets, exposing your message
to a large audience.
Cost-effectiveness – PR can be an economical
way to reach a large audience in comparison
to paid for advertising media placement,
particularly if it is done in-house.
Some of the challenges of public relations include:
No direct control – unlike advertising, you can’t
exactly control how your business is portrayed by the
media, when your message will appear, and where it
will be placed.
No guaranteed results – you may spend time and
money on writing a press release, getting suitable
photography and speaking with journalists, but you
can never guarantee your story will be published.
This can result in a poor return-on-investment.
Evaluation – it can be difficult to measure the
effectiveness of PR activities. You can count media
mentions and published stories, but it’s harder to
determine the impact this has on your audience.
15. Online reputation management (ORM)
Online reputation management (ORM) means taking
control of the online conversation. Its techniques and
strategies ensure that people find the right materials
when they look for you on the Internet.
The purpose of online reputation management is to
create balance, counter act misleading trends, and
allow you to put your best foot forward.
16. Two cycles of online reputation
Vicious Cycle: Ignore your online reputation and
you risk falling victim to a vicious cycle of
misinformation and rumors.
Virtuous Cycle: Take care of your online reputation
and you create a virtuous cycle of positive, quality
materials that reflect well on you.
17. Channels involved in ORM
Four distinct digital marketing channels involved in ORM, channels also
referred to as the PESO Model.
Paid Media
Paid media includes all marketing efforts that require payment to
feature your business on external websites and networks. This includes
PPC advertising with Google AdWords, display ads on Facebook, and
sponsored posts on industry/influencer blogs. Paid media extends your
reach and drives traffic to your web properties by building new
relationships with partners and customers.
18. Earned Media
Earned media describes the coverage of your business on external web
entities for which you didn’t pay. It requires you to stand out from your
competition with great content, products, or services that users
consider worth sharing, mentioning, reposting, and reviewing.
Social Media
Pages and profiles on social media are “an extension of your brand and
create additional avenues for people to interact.” When it comes to social
properties, it’s important to dedicate the resources to stay active on
them by engaging in conversations and publishing fresh content
regularly. As a general rule: not having a profile on a certain network is
better than having an inactive one.
19. Owned Properties
Your business websites and blogs are properties owned by
you, which means you have full control over them. Of
course, the more properties you own, the higher your
chances to effectively build your digital presence. At the
same time, you don’t want to cause confusion by
establishing properties that can’t be distinguished from one
another.
21. Topics to be covered
ROI of digital strategies
How digital marketing is adding value to business
Evaluating cost effectiveness of digital strategies
22. Digital Marketing Strategy
A digital marketing strategy is a plan that helps your business achieve specific digital goals
through carefully selected online marketing channels such as paid, earned, and owned media.
How to Create a Digital Marketing Strategy
1. Build your buyer personas.
2. Identify your goals and the digital marketing tools you'll need.
3. Evaluate your existing digital channels and assets.
4. Audit and plan your owned media campaigns.
5. Identify your goals and the digital marketing tools you'll need.
6. Audit and plan your earned media campaigns.
23.
24. Digital Marketing ROI
Digital marketing ROI is the measure of the profit or loss that you generate on
your digital marketing campaigns, based on the amount of money you have
invested. Return on investment simply compares the profit that resulted from a
digital marketing campaign to how much the campaign cost to create and
deploy. Ideally, you want as high an ROI as possible.
The basic ROI calculation is:
ROI = (Net Profit/Total Cost)*100
25. Metrics to be considered for measuring
digital marketing strategies ROI
1. Unique Monthly Visitors
This metric provides an overall snapshot of the number of
people coming to your website. It gives marketers insight into
the digital reach and effectiveness of their marketing campaigns,
as data can be segmented by sources like paid, organic, social
media, etc.
2. Cost Per Lead
One of the best ways to measure ROI is with cost per lead. This
metric not only explains how many marketing dollars it takes to
pull in a lead but provides a general sense of whether or not
your digital marketing initiatives are profitable.
26. 3. ROAS
One of the fundamental ways to evaluate paid digital
campaigns is through Return On Advertising Spend
(ROAS). This metric allows you to measure which
methods are working and how they can improve future
advertising efforts, including budgets, strategy, and
direction.
4. Qualified Leads from Marketing
Part of the process of generating leads is understanding
what drove them to take action. This metric helps
marketers to adjust resources and campaigns to create
more content to encourage actions from users.
27. 5. Top Website Content
Do you know what type of content brings in the most traffic to
your website, or produces the most leads? Identifying trends in
content and user behavior will allow marketers to segment
content to match customer demands.
6. Bounce Rates
This term pertains to the percentage of visitors who leave your
site after viewing one page. The higher the bounce rate, the less
you’re retaining visitors.
28. 7. Customer Acquisition Cost (CAC)
It takes money to acquire new customers with paid
marketing, and this metric reveals exactly what that cost is.
This metric is calculated by the total spend divided by the
number of acquired customers.
29. How digital marketing is adding value to
business
1. Raise Brand Awareness
2. Increase Business Expansion opportunities
3. Save time and money
4. Increase clients
5. High Conversions
30. Evaluating cost effectiveness of digital strategies
1. Pay Per Click
2. Pay Per Impression
3. Customer Acquisition Cost
4. Per Unit Mailing Cost
5. Per Unit Social Media Click