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Measuring Marketing Effectiveness
.key metrics & techniques
Debbie WilliamsB2B ConsultantChair of the IDM B2B Councile: [email protected]
B2B Council: http://tiny.cc/B2BMktg
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What constitutes Return on Marketing Investment?
> Determining appropriate metrics and ensuring a means ofmeasurement is key to driving efficiency & effectiveness.
> Different Marketing expense categories are subject todifferent metrics and measures of success.
e.g. Advertising drives changes in perception, measured byresearch; lead generation creates sales opportunities
resulting in revenue.> Few Marketing activities directly drive short-term revenue,
and none without Sales engagement. Therefore revenueis only in selected cases an appropriate measure ofMarketing ROI.
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So, what IS the definition of Marketing Success?
> Profitable revenue closed & growing
> Strong Order momentum / increased Opportunities to bid
> Greater Customer Acquisition
> Lower Churn rates & rising Customer Satisfaction
> Higher Customer Lifetime Value> Greater share of wallet
> Improved brand sentiment ..
ROI is the profits generated over and above the initialinvestment and expressed as a percent of the investment .
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BUT.It is not easy!
> Different data sets in different formats
> Data in different systems or simply not available
> Siloed and/or multi-national organisation or outsourcedactivities
> Lack of standard, benchmarked metrics
> Do not control the sales pipeline & closure> Disconnected channel partner tracking
> Common mistake is to focus on tactical channel by
channel performance> Explosion of marketing media channels based on end user
preference
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chemistry digital 2007
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How to measure Marketing Effectiveness
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Marketing Effectiveness Components
Target setting to be aligned to the Business
Plan and specifically measurable
Integration and automation to improve end
to end efficiency and control
OrganisationalAlignment
OrganisationalAlignment
Shared Sales and Marketing goals toimprove revenue. Change in Culture.
Managing Data as a strategic asset usingmulti-channel customer insight
Driving Valuefrom Data
Driving Valuefrom Data
MarketingEffectiveness
Measurement
MarketingEffectiveness
Measurement
Clear Stretch
Marketing Targets
Clear Stretch
Marketing Targets
Process and
SystemIntegration
Process and
SystemIntegration
Integrated, engaged & relevantcommunications approach to deliver results
IntegratedCommunications
IntegratedCommunications
Target setting and analysis to improveaccountability
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Prospect/Customer Lifecycle Measurement
Commitment
V
alue
Suspects
Prospects
Customers
Repeat Customers
Advocates
* Sale Conversion Rates* Cost Per Qualified Lead
Share of Wallet
Customer Value
Referral Rates
Predict ive ModellingFor Prospect Targeting
& valued Data Purchase
Iterative Message revision
Media mix analysis & trending
Real time behavioural analysis
Up sell & Cross Sell
Success rates
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Marketing Sherpa B2B Tech Marketing
Metrics Benchmarks 2009
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Brand Sentiment Tracking
> Measurement tactics:
Awareness (prompted / unprompted)
Familiarity, associations, perceptions Reputation
Favorability, preference
Relationships, advocacy
Review and monitor existing & future ESAT and CSAT
> Measurement Techniques
Quantitative brand tracking research via interviews /
surveys Monitoring On-line reputation via social media analytics
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Online Behavioural Tracking
Linkage with Salesforce.com
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13
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Leading Metrics for Lead Generation
Campaign Success
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Customer Touches 5,066,400
Responders 25,332
Leads 6,333
0.5%
25%
5k an orderAverage transaction
1,900
Orders
CPA: 120
CPA: 480
CPA: 0.6p2666 prospects
13 responders
3 leads
1 customer
9,500,000REVENUE
30%
3.133,000 budget
CPA: 1600
3:1 ROI
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Return on Investment
$ net margin on sales = $1000 = 10
$ acquisition cost $100
Easy to compare Campaign A to Campaign B
$ sales value over 12 months = $2000 = 20:1
$ acquisition cost $100
Yield Rate of Payback
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Life Time Value (LTV)
> Lifetime Value is the total net benefit that a customer orgroup of customers will provide a company over theirrelationship with the company.
> Modelling is based on estimating the average income(profit) and costs associated with the customer over aperiod of time, then calculating the net present value in
current monetary terms using a discount rate.> It answers the question: how much can you afford to
spend on acquiring a customer and still make money
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Marketing Digital Dashboard
Real Time Reporting
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Provide management with a pipeline forecast
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Volume
Share of voice
Sentiment
Who & Where
Key Themes
Measuring Social Media
impact on conversations
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Measuring Effectiveness through the
Influencer Cycle
IdentificationReach
Frequency
Expertise
Independence
Persuasiveness
Thoroughness
Relationship and InfluencerEnablementInvestment in your time
Frequency of contact
Depth of engagement
Depth of proposit ion knowledge
Results# Brand mentions salesforce.com
# Message mentions cloud computing, Chatter
Web traffic trends
# Referrals/leads/salesPerception /Tone
Accuracy
Frequency
Consistency
Value add
Share of voice
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B2B Barometer Survey 2010:
Effective Budget Spend
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Top 5 Tips for Measuring Marketing
Success1. Look at both strategic & tactical elements
2. Set marketing performance metrics within context of
Industry & Competitor benchmarks, as well as historicperformance
3. Right blend of organisational structure, expertise,
outsourcing & technology4. Agility to respond to changes in real-time through
repeatable processes
5. Communicate marketing success to the Board!
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Thank You!
Questions?
Debbie WilliamsB2B ConsultantChair of the IDM B2B Councile: [email protected]
B2B Council: http://tiny.cc/B2BMktg