The Path to Improved Corporate Media Performance

Ljubljana, 09/19/13

Prof. Dr. Clemens Koob

Situation (1)

2

Today, only one in three companies continuously assesses the impact of its Corporate Media.

33 continuously measuring the impact of B2C magazines (%) occasionally

measuring the impact of B2C magazines (%) 42

31 continuously measuring the impact of digital media (%)

occasionally measuring the impact of digital media (%) 30

Source: Corporate Media Baseline Study 3, DACH region

Situation (2)

3

51 great need for improvement: impact measurement of print media (%)

45 great need for improvement: impact measurement of digital Corporate Media (%)

Source: Corporate Media Baseline Study 3, DACH region

More and more communications executives see great need for improvement in the area of Corporate Media performance measurement.

Qualitative expert study (German-speaking countries, UK)

4

14 BASIC PRINCIPLES

for a best-in-class

Corporate Media

Performance-Management

Principle: Strategy integration

5

Performance measurement should be an integral part of any Corporate Media strategy

»»

Principle: Strategy integration

6

Rigorous performance management can best be achieved if impact measurement is seen as an essential building

block of the Corporate Media strategy right from the start.

!   Precise definition of communication objectives (what, until when) and criteria for success already during conception stage

!   Clear definition of impact measurement responsibilities within the Corporate Media team

!   The timing of the impact measurement must be a core part of the Corporate Media strategy

!   Impact measurement has to be included in the budget plan right from the beginning

Principle: A- and D-Checks

7

Realize A-Checks and D-Checks.

»»

Principle: A- and D-Checks

8

Life-cycle of the medium

Conception: professional pretests before launch

Launch: extensive testing after launch

Growth & maturity: continuous performance tracking over the course of time

Actualization: extensive testing at relaunch

measurement intensity intensity of media usage

12

3

4

Principle: Strategic and operational perspective

9

Take a strategic and an operational perspective.

»»

Principle: Strategic and operational perspective

10

Do we meet our strategic communication targets? How should we arrange our Corporate Media activities in the long run? Examples: >  Continuous tracking of communication

success relating to the customer journey >  Analysis of the media requirements of the

target group

What can be done immediately to further optimize our Corporate Media efforts? Examples: >  Continuous A/B-testing of magazine covers >  Continuous analysis of digital media bounce

rates and dwell times

Principle: Agility and continuity

11

Agility and continuity as guiding principles.

»»

Principle: Agility and continuity

12

test- & learn-environment:

Rapid availability of results for immediate optimization and iterative improvements

Meaningful comparisons over time, visibility of long-term effects / impact

performance measurement

agilitycontinuity

& consistency

Corporate Medium

Principle: Performance-Management-System

13

Establish a Performance-Management-System.

»»

Principle: Performance-Management-System

14

A best-in-class Corporate Media Performance-Management-System consists of a six-steps cycle.

Set ambitious goals Define criteria for

success

Define KPIs

Measure success

Evaluate impact

and success

Optimize communi-

cations

Principle: Keep eyes firmly on key parameters of success

15

Keep eyes firmly on the key parameters of success regarding customer communications.

»»

Principle: Keep eyes firmly on key parameters of success

There are three dimensions of success regarding customer communications.

The importance of these dimensions varies from project to project.

16

Dimensions of success: Medium

Effectiveness Efficiency

Principle: Keep eyes firmly on key parameters of success

17

1) Success regarding medium itself: > reach > usage > acceptance > appraisal > media engagement (e.g. follow-up communication)

Principle: Keep eyes firmly on key parameters of success

18

2) Success in terms of effectiveness:

> communication success related to the customer decision journey

> in cognitive, affective, conative and economic terms

Principle: Keep eyes firmly on key parameters of success

19

> Brand awareness and presence > Brand image, brand knowledge,

sympathy, brand trust > Desirability, buying consideration > Sales support (leads, purchases etc.) > Customer service function > Loyalty, retention, word-of-mouth

Principle: Keep eyes firmly on key parameters of success

20

3) Success in terms of efficiency:

> Return on communications

> Communication success in relation to investment

Principle: Adequate KPIs

21

Define adequate Key Performance Indicators (KPIs).

»»

Principle: Adequate KPIs

22

KPIs

>  unique users, average daily users, new users >  «quality reach» without occasional users

>  time on site per visitor / time per visit >  page views per visit

>  conversion rates >  revenue per purchase

>  returning users, heavy users >  monthly visits per user

Example: McKinsey / OMEX dashboard for online media

Principle: Big Picture

23

Get the Big Picture!

»»

Principle: Big Picture

24

Understanding details is indispensable when it comes to continuous fine-tuning of Corporate Media.

However, steering the overall performance of Corporate Media activities demands focusing on a manageable

number of vital performance indicators.

Performance Dashboard

Principle: Benchmarking

25

Broaden your horizon.

»»

Principle: Benchmarking

With the help of internal and external benchmarks it is possible to better classify communication performance and to challenge

one‘s Corporate Media activities.

26

performance / impact of Corporate Media activities

internal benchmarks

§  previous values / time comparison

§  other media / cross-comparison

external benchmarks

§  competitors §  within own sector §  cross-sector

Principle: Instruments and methods

27

Choose the best-of-breed instruments and methods.

»»

Principle: Instruments and methods

28

1) Quantitative methods:

> «facts & figures»: assessment of Corporate Media success on a solid fact base

> continuous monitoring and steering

> e.g. surveys, standardized web reports, social media tools, ReaderScan

Principle: Instruments and methods

29

2) Qualitative methods:

> Explorations / explorative analyses

> detailed understanding of media needs and requirements, media usage, and media effects

> e.g. focus groups, in-depth interviews, shadowing, usability tests

Principle: Instruments and methods

30

3) Physiological methods:

> Deep drilling regarding users‘ experiences and behavior

> e.g. eye tracking, pupillometry, skin conductance measurement

Principle: Instruments and methods

The instruments for proactive performance management are at hand.

31

!   There is a broad range of measurement methods and tools – with respect to print media as well as digital media.

!   Methods and instruments need to be chosen in line with the research question / respective situation.

!   This means there is no cure-all method being appropriate under all circumstances.

!   A combination of different methods can lead to even more comprehensive findings and higher validity of results (triangulation).

Principle: Just Do It!

32

Just Do It! »»

33

Thank you for

your attention!