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Using competitive analysis to project your marketing budget
The document outlines strategies for projecting and justifying a digital marketing budget for 2017 and beyond, emphasizing the need for a strong argument backed by competitive data. It introduces various tools like Google Analytics, SimilarWeb, and SEMrush for analyzing market position and competitor spending. By triangulating data from these resources, marketers can propose informed budget options to finance departments, ultimately aiming for increased profitability and marketing effectiveness.
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Similar to Using competitive analysis to project your marketing budget
Using competitive analysis to project your marketing budget
- 1. Project your digital marketingbudget for 2017 and beyond JeffSauer(@jeffalytics)
- 2. @jeffalytics Who wants to killit in 2017?
- 3.
- 4. @jeffalytics But is thatour reality?
- 5. Or are wefighting for budget scraps?
- 6.
- 7. We need toget a bigger budget!
- 8. So we visitour finance department
- 9. And we askreally nicely
- 10. And finance isall likeâŠ
- 11. So we createwhat might be the best growth chart in the history of charts. Sooo perfect!
- 12. And finance dropsthe hammer
- 13. And we getsuper sad and might even cry
- 14. @jeffalytics That used to happento this guy I knowâŠ
- 15. Until he finallygot fed up with hearing no NO
- 16.
- 17. @jeffalytics Want to start hearingâyesâ more often?
- 18. @jeffalytics How to project valueof increased marketing budgets Make a compelling argument for bigger budgets Using competitive data to build our own models What we can learn from competitive intelligence tools Today, we will discuss
- 19. View at www.jeffalytics.com Quickresource mention: Periodic Table of GA
- 20.
- 21. First tool: GoogleAnalytics
- 22.
- 23. Check one boxin your GA account This is done at an account level
- 24. Choose your industryvertical
- 25. Then set yourlocation and website size
- 26.
- 27. Story: Our earnedmedia program is working
- 28. Story: Our emailprogram is way behind Is email performing poorly or just not being tracked?
- 29. Story: We haveno paid media, but others do We are not spending anything on advertising. Should we be?
- 30. Story: We havea missed mobile opportunity
- 31.
- 32.
- 33. SimilarWeb Tool: http://www.similarweb.com/ Trafficsource comparisons
- 34. @jeffalytics Good stories, but stillmany questions
- 35.
- 36.
- 37. âą SimilarWeb CompetitiveIntelligence Tool: http://www.similarweb.com/ Specific individual website traffic rankings
- 38. Compare traffic toothers
- 39.
- 40. Then start drillinginto traffic sources
- 41. Who is investingin social?
- 42. Is anyone doingdisplay?
- 43. What is yourAudience Interested in?
- 44. Even do MobileComparisons!
- 45.
- 46. SEMRush Tool: http://www.semrush.com/ SEMRushfor Search Spend Estimates
- 47.
- 48. SEMRush Tool: http://www.semrush.com/ Granulardata to compare with AdWords tool
- 49. Also data fromSimilarWeb
- 50. SpyFu Tool: http://www.spyfu.com/ Makesure to compare with SpyFu as well
- 51. MOAT Display IntelligenceTool: http://www.moat.com/ Check out Moat for display intelligence
- 52. @jeffalytics What do we dowith this data?
- 53. Triangulate your datasources Your Data Adobe, Google Analytics
- 54. Triangulate your datasources Anonymized Benchmark (GA), Industry (SW) Your Data Adobe, Google Analytics
- 55. Your Data Adobe, GoogleAnalytics Specific SimilarWeb, SEMRush, etc. Anonymized Benchmarking Reports (GA) Triangulate your data sources Anonymized Benchmark (GA), Industry (SW) Specific SimilarWeb, SEMRush, etc. Your Data Adobe, Google Analytics
- 56.
- 57. @jeffalytics Low Watermark (What weare currently doing) Provide several, well researched options
- 58. @jeffalytics Low Watermark (What weare currently doing) Provide several, well researched options Medium Watermark (What our competitors are doing)
- 59. @jeffalytics Low Watermark (What weare currently doing) Provide several, well researched options Medium Watermark (What our competitors are doing) High Watermark (Our market potential)
- 60. Show low-medium-high expenseprojections
- 61. Project revenues foreach budget
- 62.
- 63.
- 64.
- 65. @jeffalytics Letâs bring this backto finance
- 66. Six Months and10 calls laterâŠ
- 67. Yo, give usa bigger budget and we will make you $21 Million in profit! $- $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 Profit Potential Profit Potential of Marketing Initiatives Low Watermark (current budget) Medium Watermark (competitors budget) High Watermark (10x Moonshot Plan)
- 68.
- 69. You might evenget promoted! Promoted
- 70.
- 71.
- 72.
- 73. âą http://www.cyfe.com/ Cyfe forFree API based dashboards
- 74. All kinds ofintegrations
- 75.
- 76. Cyfe Competitive Dashboardhttps://www.cyfe.com/blog/competitor-dashboard/ Competitive Dashboard with Cyfe
- 77.
- 78. Connect Cyfe withother tools using Zapier
- 79.
- 80. âą https://www.zapier.com/ My favoritetechnology in the world right now
- 81. Choose the productyou want to integrate
- 82. Zapier Recipe Book- https://zapier.com/zapbook/cyfe/ Create your own recipe or choose from recommended lists
- 83. @jeffalytics Project your marketing budget Automationsaves time and research Back up opinions with competitive research Speak the language of the CFO Action Items
- 84. Get the spreadsheet: jeffalytics.com/budget2017 ThankYou! Jeff Sauer jeff@jeffalytics.com