Marketing Measurement Therapy Webcast slides by BECKON

transcript

Agenda

@Forrester @BeckonInc

MARKETING MEASUREMENT THERAPY Marketing Analytics Strategies to Cure Your Big Data Headache

Empowered buyers create a new era of competitive advantage

Source: October 10, 2013 “Competitive Strategy in the Age of the Customer” report.

@lauraramos @Forrester @BeckonInc

The Age of the Customer

A 20-year business cycle in which the most successful enterprises will

reinvent themselves to systematically understand and serve increasingly

powerful customers

A 20-year business cycle in which the most successful enterprises will

reinvent themselves to systematically understand and serve increasingly

powerful customers

Source: March 28, 2013, “The New Physics Of Lead-To-Revenue Management” Forrester report

Omnichannel buying increases purchase complexity

“Marketing is good at using data and analytics to make

course judgments.”

Marketing lacks strong ability to show impact

“Marketing’s financial value is clear to the

business.”

“Marketing is good at using data and analytics to make

strategic recommendations.”

Source: Forrester/ITSMA/VEM May 2013 Global Marketing Performance Measurement Online Survey

Base: 412 Marketing, Sales and Business Executives, “Strongly Agree” responses only

Execs don’t factor marketing analysis into their decision making

Source: Forrester/ITSMA/VEM May 2013 Global Marketing Executive Performance Management Online Survey Base: 383 Marketing, Sales and Business Executives

“To what extent are your key stakeholders using the data, metrics, and/or analyses developed by marketing?”

16% 13%

Sales BU or Division Leaders

CEO CFO

But then again, CMOs don’t really either

Source: The Feb 2013 CMO Survey sponsored by Duke Fuqua School of Business and The American Marketing Association

In a survey of CMOs, the percent of marketing projects leveraging marketing analytics:

Feb-12 Aug-12 Feb-13 Aug-13

30% 29%

Time to make a date with your big data destiny

Get your data house in order

•  Large and diverse quantities

•  Messy and missing data

•  Silo’ed or hoarded

•  Not owned by you

•  Focused on “how” not “why”

“How effective is your marketing at using data analytics?”

Base: 293 Marketing, Sales, Bus. Execs (% of respondents shown)

10 9 8 7 6 5 4 3 2 1

Source: Forrester/ITSMA/VEM May 2013 Global Marketing Performance Management Online Survey

Get your data house in order

•  Large and diverse quantities

•  Messy and missing data

•  Silo’ed or hoarded

•  Not owned by you

•  Focused on “how” not “why”

“How effective is your marketing at using data analytics?”

Base: 293 Marketing, Sales, Bus. Execs (% of respondents shown)

10 9 8 7 6 5 4 3 2 1 85%

Marketers rely on outmoded tools to report performance

286 Marketing, Sales and Business Executives

Dashboards fail to measure real-time business outcomes

“How well does your marketing dashboard enable you to do the following?”

Source: Forrester/ITSMA/VEM May 2013 Global Marketing Performance Measurement Online Survey

Base: 168 Marketing, Sales and Business Executives

They struggle to produce forward-looking measures and analytics

Source: Forrester/ITSMA/VEM May 2013 Global Marketing Executive Performance Management Online Survey

Base: 219 Marketing, Sales and Business Executives

Design dashboards around buyer’s journey to drive real-time results

Source: February 2014 “Brief: Redesign B2B Dashboards Around Customers To Deliver Actionable Insights” Forrester report.

Source: Forrester/ITSMA/VEM May 2013 Global Marketing Executive Performance Management Online Survey

Reporting doesn’t show marketing where to go next

“Do you use data analytics as a predictive tool or to report past performance?”

Base: 367 Marketing, Sales and Business Executives (percentages may not total 100 because of rounding)

Move from reporting performance to driving the business

Making data actionable

Static •  Predefined •  Owned •  Stagnates on

stale data

Thomas guide graphic

placeholder

stale data

Reactive •  One-way •  Brokered •  Responds to

new data

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stale data

new data

Interactive •  Two-way •  Agile •  Evolves with

new data

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stale data

new data

Interactive •  Two-way •  Agile •  Evolves with

new data

Adaptive •  Multiway •  Collaborative •  Adapts “just in

time”

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•  Data from many different sources •  Adaptive •  Dynamic, real-time •  Collaborative •  Forward-looking (what’s coming up) •  Basis for real-time decision-making

What else we need to get there:

›  Team to help diagnose and tune dashboard performance

›  Programming-free integration between the data stores and transactional systems

›  User experience focused on key audiences

›  Tools that help predict new business opportunity

Agenda

@jenniferland @BeckonInc

MARKETING MEASUREMENT THERAPY Marketing Analytics Strategies to Cure Your Big Data Headache

HOW AND WHAT TO MEASURE NOW

There have never been so many

ways to spend your marketing dollars

Experimentation

•  SO many channels •  SO many new tactics •  SO many markets •  SO many segments •  SO many partners

There have never been so many

ways to spend your marketing dollars

Experimentation Accountability

•  SO many channels •  SO many new tactics •  SO many markets •  SO many segments •  SO many partners

•  Need to deliver reliably •  Need to do more with less •  Need to remind all why you are

doing what you are doing •  Need to know what’s working best •  Business impact reporting to many

constituents @jenniferland @BeckonInc

Never as much pressure to justify

the decisions you make

It’s a journey

The Marketing Analytics Maturity Model

It’s a journey

1 Disparate

reports

No integrated visibility

It’s a journey

1 Disparate

reports

2 Manual

integrated reporting

Using data to describe the past

It’s a journey

1 Disparate

reports

2 Manual

3 Automated integrated reporting

Using data to act

It’s a journey

1 Disparate

reports

2 Manual

Using data to act

4 Planning

Use data to set goals

It’s a journey

1 Disparate

reports

2 Manual

Using data to act

4 Planning

5 Modeling

Use data to predict

Most marketing departments are stuck at phase 2

1 Disparate

reports

2 Manual

4 Planning

5 Modeling

Using data to act

Use data to predict

Symptoms of Phases 1 and 2

1 Disparate

reports

2 Manual

1.  It’s almost August and you are just wrapping up the May report

1 Disparate

reports

2 Manual

2.  You literally call reporting ‘hind-sighting’

1 Disparate

reports

2 Manual

3.  Reporting prep takes so long that no time is left for pure insight. You fall back on basic math: Views are up 10%

1 Disparate

reports

2 Manual

4.  Your super-smart marketing analyst girl or guy is at risk of leaving

1 Disparate

reports

2 Manual

5.  The Marketing Intelligence Team is considering changing its name to the Marketing Plumbing Department

1 Disparate

reports

2 Manual

5.  The Marketing Intelligence Team is considering changing its name to the Marketing Plumbing Department

6.  Ad hoc questions lobbed into your team strike terror in your heart

What’s needed to get past stage 2?

DIGITAL AD PERFORMANCE

EMAIL WEBSITE

SEARCH TV

STORE DATA

OOH PR

EVENTS SOCIAL MEDIA

BRAND TRACKER FINANCE

ALL YOUR DISPARATE DATA SOURCES

EMAIL WEB SITE

SEARCH TV

STORE DATA

OOH PR

EVENTS SOCIAL MEDIA

MARKETING SPEND + ACTIVITY

BRAND OUTCOMES

BUSINESS OUTCOMES

UNITED, REAL-TIME DATA HUB (MARKETING SPEND, ACTIVITY

+ BUSINESS AND BRAND METRICS)

EMAIL WEB SITE

SEARCH TV

STORE DATA

OOH PR

EVENTS SOCIAL MEDIA

KPI FRAMEWORK FOR CROSS-CHANNEL REPORTING

EMAIL WEB SITE

SEARCH TV

STORE DATA

OOH PR

EVENTS SOCIAL MEDIA

Early warning system + diagnostics for what to do next: the WAZE for marketing

EMAIL WEB SITE

SEARCH TV

STORE DATA

OOH PR

EVENTS SOCIAL MEDIA

CONVERSE (NIKE) IN BECKON

WHY BECKON? •  Data system of

record •  Agency

accountability •  Shared integrated

reporting •  Watch campaigns

unfold in “real-time”

•  Save time, free up analysts to focus on insight

•  See cross-channel connections in data

DATA IN BECKON •  North America •  Print, radio,

OOH, online display, web, paid search

•  Sales data from outlet stores, own stores, wholesale and e-commerce

•  Brand equity metrics

GOAL: CREATE A MARKETING SPEND AND PERFORMANCE SYSTEM OF RECORD TO MAKE BETTER MEDIA BUYS AND KEEP AGENCIES ACCOUNTABLE.

MICROSOFT MOBILE IN BECKON

WHY BECKON? •  Data system of record •  Agency accountability •  Shared integrated

unfold in “real-time” •  Reallocate media spend

faster •  Save time, free up

analysts to focus on insight

DATA IN BECKON •  Paid media, social,

web, leads, activations

•  Competitive media spend

•  Intent to Purchase survey data

•  Scope: all handset launches, North America

GOAL: REPLACE MANUAL CUT-AND-PASTE + REPORTING WITH CONTINUOUSLY AND AUTOMATICALLY UPDATED DASHBOARDS. SAVE TIME AND GAIN INSIGHT.

SKY IN BECKON

unfold in “real-time” •  Save time, free up

DATA IN BECKON •  UK and Ireland •  The major

integrated, cross-channel campaigns

•  Both brand advertising and direct marketing tactics

•  Brand equity trackers

•  Business outcome data

GOAL: REIGN IN THE DATA FOR THE LARGEST ADVERTISER IN THE UK TO GET MORE REAL-TIME VISIBILITY AND BETTER UNDERSTANDING OF WHAT’S WORKING.

STUBHUB (EBAY) IN BECKON

unfold in “real-time” •  Save time, free up

DATA IN BECKON •  North America and

Europe •  Transactions, traffic,

media channel attributable revenue, loyalty program data

•  Brand equity survey data

GOAL: GET AUTOMATED, INTEGRATED REPORTING TO MATCH THEIR INTEGRATED PLANNING AND INTEGRATED EXECUTION. SEE CONNECTIONS IN DISPARATE FEEDS.

UNION BANK IN BECKON

WHY BECKON? •  Marketing data source

of truth and system of record

•  Agency accountability •  Shared integrated

reporting •  Watch campaigns unfold

in “real-time” •  Save time, free up

•  Rapid performance reporting back to BUs

DATA IN BECKON •  All evergreen

digital channel spend and performance (web, email, search, display, social)

•  The major integrated, cross-channel campaigns

•  All data tagged by dozens of product, verticals and lines of business

GOAL: REIGN IN THE DATA FOR MARKETING LEADERSHIP TO GET MORE REAL TIME VISIBILITY AND BETTER UNDERSTANDING OF WHAT’S WORKING.

GAP IN BECKON

WHY BECKON? •  Real-time KPI tracker for

the CMO •  United, cross-channel

data hub •  Early warning system •  Plan vs. actual

monitoring and reporting of variances

•  Platform for forward-looking modeling

DATA IN BECKON •  Brand media

spend and performance

•  Social •  CRM •  Brand Tracker •  Business results

GOAL: DELIVER REAL-TIME BUYER’S JOURNEY KPIS TO THE CMO AND MARKETING ORGANIZATION FOR BOTH EARLY WARNING SYSTEM AND PREDICTIVE PLATFORM

The biggest question is always:

EMAIL WEB SITE

SEARCH TV

STORE DATA

BRAND TRACKER

SOCIAL MEDIA

EVENTS FINANCE

WHAT METRICS MATTER?

Too often marketers track only two metrics:

PAID MEDIA SPEND

And we hope that when one goes up, the other does too.

PAID MEDIA SPEND

And we hope that when one goes up, the other does too.

BUT WHAT IF IT DOESN’T?

PAID MEDIA SPEND

Marketers need better diagnostics to understand marketing performance at a

more fundamental level

PAID MEDIA SPEND

There is a more complex dynamic at play all along a path toward sales

PAID MEDIA

BRAND DIRECT

MARKETING ACTIVITY

BRAND OUTCOMES

BUSINESS OUTCOMES

CUSTOMER ENGAGEMENT

•  TV •  PRINT •  RADIO •  OOH •  MOBILE •  EMAIL •  DISPLAY •  SEARCH •  SOCIAL •  EVENTS •  PR •  SPONORSHIP •  MDF …

PAID MEDIA

BRAND DIRECT

OWNED PROPERTIES

MARKETING ACTIVITY

BRAND OUTCOMES

BUSINESS OUTCOMES

CUSTOMER ENGAGEMENT

•  STORE •  WEBSITE •  FB PAGE

PAID MEDIA

BRAND DIRECT

EARNED MEDIA/BUZZ

OWNED PROPERTIES

MARKETING ACTIVITY

BRAND OUTCOMES

BUSINESS OUTCOMES

CUSTOMER ENGAGEMENT

PAID MEDIA

BRAND DIRECT

EARNED MEDIA/BUZZ

OWNED PROPERTIES

AWARENESS

MARKETING ACTIVITY

BRAND OUTCOMES

BUSINESS OUTCOMES

CUSTOMER ENGAGEMENT

PAID MEDIA

BRAND DIRECT

EARNED MEDIA/BUZZ

OWNED PROPERTIES

AWARENESS PURCHASE INTENT

MARKETING ACTIVITY

BRAND OUTCOMES

BUSINESS OUTCOMES

CUSTOMER ENGAGEMENT

PAID MEDIA

BRAND DIRECT

EARNED MEDIA/BUZZ

OWNED PROPERTIES

AWARENESS PURCHASE INTENT

MARKETING ACTIVITY

BRAND OUTCOMES

BUSINESS OUTCOMES

CUSTOMER ENGAGEMENT

And these are all goals of marketing

PAID MEDIA

BRAND DIRECT

EARNED MEDIA/BUZZ

OWNED PROPERTIES

AWARENESS PURCHASE INTENT ADVOCACY

MARKETING ACTIVITY

BRAND OUTCOMES

BUSINESS OUTCOMES

CUSTOMER ENGAGEMENT

But what metrics matter?

PAID MEDIA

BRAND DIRECT

EARNED MEDIA/BUZZ

OWNED PROPERTIES

MARKETING ACTIVITY

BRAND OUTCOMES

BUSINESS OUTCOMES

CUSTOMER ENGAGEMENT

Are we getting our message out? •  Total impressions •  Ad recall •  Total spend •  Competitive media spend

What metrics matter

PAID MEDIA

BRAND DIRECT

EARNED MEDIA/BUZZ

OWNED PROPERTIES

MARKETING ACTIVITY

BRAND OUTCOMES

BUSINESS OUTCOMES

CUSTOMER ENGAGEMENT

How are our owned properties performing? •  Footfall •  Total site visits •  Time on site •  Unique visitors •  Total community size (Twitter followers,

Facebook fans…)

What metrics matter

PAID MEDIA

BRAND DIRECT

EARNED MEDIA/BUZZ

OWNED PROPERTIES

MARKETING ACTIVITY

BRAND OUTCOMES

BUSINESS OUTCOMES

CUSTOMER ENGAGEMENT

Are consumers talking about us? •  Total social mentions •  Positive / negative sentiment •  Shares, likes, tweets

What metrics matter

PAID MEDIA

BRAND DIRECT

EARNED MEDIA/BUZZ

OWNED PROPERTIES

MARKETING ACTIVITY

BRAND OUTCOMES

BUSINESS OUTCOMES

CUSTOMER ENGAGEMENT

Are target customers aware of us? •  Top 2 Box awareness (aided/unaided) Proxies: •  Social Share of Voice •  Aggregate brand impressions •  Organic search volume •  Natural search ranking

What metrics matter

PAID MEDIA

BRAND DIRECT

EARNED MEDIA/BUZZ

OWNED PROPERTIES

MARKETING ACTIVITY

BRAND OUTCOMES

BUSINESS OUTCOMES

CUSTOMER ENGAGEMENT

Are customers more likely to buy? •  Consideration •  Purchase intent (T2B) •  Net promoter score •  Wish list functionality usage •  Store finder functionality usage •  Loyalty program sign-ups •  # carts initiated @jenniferland @BeckonInc

What metrics matter

PAID MEDIA

BRAND DIRECT

EARNED MEDIA/BUZZ

OWNED PROPERTIES

MARKETING ACTIVITY

BRAND OUTCOMES

BUSINESS OUTCOMES

CUSTOMER ENGAGEMENT

Are our customers going to recommend us to their peers? •  Likelihood to Buy •  Customer Satisfaction Ratings •  Net Promoter Score •  Net sentiment score (Pos-Neg) •  Average star rating

What metrics matter

PAID MEDIA

BRAND DIRECT

EARNED MEDIA/BUZZ

OWNED PROPERTIES

MARKETING ACTIVITY

BRAND OUTCOMES

BUSINESS OUTCOMES

CUSTOMER ENGAGEMENT

Are customers buying more? •  Revenue •  Units •  Average Order Value •  Percent sold at full price •  Conversion rate •  Category / SKU sales from

audiences targeted by media

What metrics matter

PAID MEDIA

BRAND DIRECT

EARNED MEDIA/BUZZ

OWNED PROPERTIES

MARKETING ACTIVITY

BRAND OUTCOMES

BUSINESS OUTCOMES

CUSTOMER ENGAGEMENT

Is paid media driving traffic to our owned properties (stores, sites)? •  Total engagements (clicks, opens, views, etc.) •  Engagement rate •  Click-through rate •  Site traffic from all ad forms (Overall and by campaign / message)

What metrics matter

PAID MEDIA

BRAND DIRECT

EARNED MEDIA/BUZZ

OWNED PROPERTIES

MARKETING ACTIVITY

BRAND OUTCOMES

BUSINESS OUTCOMES

CUSTOMER ENGAGEMENT

Is our paid media driving buzz? Is it being amplified and passed along by consumers? •  Paid / earned media ratio •  Mentions of the ad campaigns

What metrics matter

PAID MEDIA

BRAND DIRECT

EARNED MEDIA/BUZZ

OWNED PROPERTIES

MARKETING ACTIVITY

BRAND OUTCOMES

BUSINESS OUTCOMES

CUSTOMER ENGAGEMENT

How much is social driving traffic to our site and stores? •  Site traffic from social

What metrics matter

PAID MEDIA

BRAND DIRECT

EARNED MEDIA/BUZZ

OWNED PROPERTIES

MARKETING ACTIVITY

BRAND OUTCOMES

BUSINESS OUTCOMES

CUSTOMER ENGAGEMENT

Are consumers sharing things from our owned properties? •  Use of ‘share this’ functionality •  Hashtag usage •  Store check-ins •  Likes, shares •  Retweets

What metrics matter

PAID MEDIA

BRAND DIRECT

EARNED MEDIA/BUZZ

OWNED PROPERTIES

ADVOCACY

MARKETING ACTIVITY

BRAND OUTCOMES

BUSINESS OUTCOMES

CUSTOMER ENGAGEMENT

SALES Cost per point of

NPS ROI

Cost per impression

Cost per engagement

AWARENESS

Total marketing spend per point

of intent

Total marketing spend per point

of awareness PURCHASE

INTENT

What metrics matter

PAID MEDIA

BRAND DIRECT

EARNED MEDIA/BUZZ

OWNED PROPERTIES

MARKETING ACTIVITY

BRAND OUTCOMES

BUSINESS OUTCOMES

CUSTOMER ENGAGEMENT

As we do more traditional media in a market, do we see click-through rates and open rates of digital media go up?

What metrics matter

PAID MEDIA

BRAND DIRECT

EARNED MEDIA/BUZZ

OWNED PROPERTIES

MARKETING ACTIVITY

BRAND OUTCOMES

BUSINESS OUTCOMES

CUSTOMER ENGAGEMENT

When we turn off media in a market, does our consideration and purchase intent go down? When? How soon?

When we turn off brand advertising in a market, does our consideration and purchase intent go down? When? How soon?

What metrics matter

PAID MEDIA

BRAND DIRECT

EARNED MEDIA/BUZZ

OWNED PROPERTIES

MARKETING ACTIVITY

BRAND OUTCOMES

BUSINESS OUTCOMES

CUSTOMER ENGAGEMENT

When positive sentiment goes up, what happens to sales [90] days later?

What metrics matter

PAID MEDIA

BRAND DIRECT

EARNED MEDIA/BUZZ

OWNED PROPERTIES

MARKETING ACTIVITY

BRAND OUTCOMES

BUSINESS OUTCOMES

CUSTOMER ENGAGEMENT

When use of ‘find a store’ functionality goes up, what happens to sales [10] days later?

Which parts correlate most highly with sales? It depends on your business.

PAID MEDIA

BRAND DIRECT

EARNED MEDIA/BUZZ

OWNED PROPERTIES

The Pizza Company

Which parts correlate most highly with sales? It depends on your business.

PAID MEDIA

BRAND DIRECT

EARNED MEDIA/BUZZ

OWNED PROPERTIES

The Car Company

If the data is flowing in real-time, then you have an early warning system for sales

PAID MEDIA

BRAND DIRECT

EARNED MEDIA/BUZZ

OWNED PROPERTIES

MARKETING ACTIVITY

BRAND OUTCOMES

BUSINESS OUTCOMES

CUSTOMER ENGAGEMENT

If we launch a campaign and

impressions are high

PAID MEDIA

BRAND DIRECT

EARNED MEDIA/BUZZ

OWNED PROPERTIES

MARKETING ACTIVITY

BRAND OUTCOMES

BUSINESS OUTCOMES

CUSTOMER ENGAGEMENT

But the engagement rate is low and store and site traffic is

PAID MEDIA

BRAND DIRECT

EARNED MEDIA/BUZZ

OWNED PROPERTIES

MARKETING ACTIVITY

BRAND OUTCOMES

BUSINESS OUTCOMES

CUSTOMER ENGAGEMENT

Or the paid to earned media

ratio is low

PAID MEDIA

BRAND DIRECT

EARNED MEDIA/BUZZ

OWNED PROPERTIES

MARKETING ACTIVITY

BRAND OUTCOMES

BUSINESS OUTCOMES

CUSTOMER ENGAGEMENT

ratio is low

We can assume that sales will soon be

low too

PAID MEDIA

BRAND DIRECT

EARNED MEDIA/BUZZ

OWNED PROPERTIES

MARKETING ACTIVITY

BRAND OUTCOMES

BUSINESS OUTCOMES

CUSTOMER ENGAGEMENT

ratio is low

We can assume that sales will soon be

low too

What can we do to improve the creative, messaging or offer to

bump up the engagement rates of those ads and

drive sales ASAP?

A robust data repository for these performance dynamics is your foundation for modeling

If we have a robust data platform for what works, we can begin to predict outcomes

PAID MEDIA

BRAND DIRECT

OWNED PROPERTIES

MARKETING ACTIVITY

BRAND OUTCOMES

BUSINESS OUTCOMES

CUSTOMER ENGAGEMENT

EARNED MEDIA/BUZZ

PAID MEDIA

BRAND DIRECT

OWNED PROPERTIES

MARKETING ACTIVITY

BRAND OUTCOMES

BUSINESS OUTCOMES

CUSTOMER ENGAGEMENT

2012 holiday season, we spent X

And saw engagements of Y

EARNED MEDIA/BUZZ

And sales of Z

PAID MEDIA

BRAND DIRECT

OWNED PROPERTIES

MARKETING ACTIVITY

BRAND OUTCOMES

BUSINESS OUTCOMES

CUSTOMER ENGAGEMENT

2012 Holiday season, we spent X

EARNED MEDIA/BUZZ

And sales of Z

2013 holiday season, we spent X

And sales of Z

PAID MEDIA

BRAND DIRECT

OWNED PROPERTIES

MARKETING ACTIVITY

BRAND OUTCOMES

BUSINESS OUTCOMES

CUSTOMER ENGAGEMENT

EARNED MEDIA/BUZZ

And sales of Z

Then in the 2014 holiday season, if we

spend X

And see engagements of Y

We’ll likely see sales of Z

EMAIL WEBSITE

SEARCH TV

STORE DATA

BRAND TRACKER

SOCIAL MEDIA

EVENTS FINANCE

The WAZE for marketing