Lesson 3Define the goals

2012 Max Ramaciotti Creative Commons — Attribuzione - Condividi allo stesso modo 3.0

HomeworkYOUR

BENCHMARK

Goal

SMART Goals

SpecificMeasurableAchievableRealisticTime Sensitive

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Strategic planning, 3 steps

Situation

Target

Path 3 step process to Strategic Planning

map a possible route to the goals/objectives

evaluate the current situation and how it came

about.

define goals and/or objectives (sometimes

called ideal state)

http://en.wikipedia.org/wiki/Strategic_planning#Methodologies

See

Think

Draw Strategic PlanSee Think Draw

map a route to achieving the

goals/objectives

what is today's situation?

define goals/objectives

Strategic plan See-Think-DrawFocus on evolving the present

Draw

See Think

Plan

Strategic plan Draw-See-Think

what resources are required to execute the activities?

what is the ideal image or the desired end state?

what is today's situation? What is the gap from ideal and why?

what specific actions must be taken to close the gap between today's situation

and the ideal state?

Strategic plan Draw-See-ThinkFocus on designing the future

Strategic Plan - Process

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Vision

Define the vision and set a mission statement with hierarchy of goals and

objectives

SWOT

Analysis conducted according to the desired goals

Formulate

Formulate actions and processes to be taken to attain these goals

Implement

Implementation of the agreed upon processes

Control

Monitor and get feedback from implemented processes to fully control the

operation

Discover

Design

Implement

Measure

But ….What about the ENVIRONMENT

the circumstances, objects, or conditions by which one is surrounded

From: http://www.merriam-webster.com/dictionary/environment

Why study the environment?

MeasurableAchievableRealistic

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Royal Pingdom Royal Pingdom- Almost 8 new Internet users added w

4 Infographics About Online Trends, Internet Usage and Social Me

Internet Usage Predictions [infographic] | Daily Infographic

The History Of Internet Usage And Speeds (Infographic) | TechCru

Environment: Online Social

Zeitgeist is a German expression meaning "the spirit of the age".

Google Zeitgeist 2011

Come faccio a utilizzare Google Statistiche di ricerca? - Guida di Statistiche di ricerca

Google Zeitgeist 2011

trendwatching.com's 12 Consumer Trends for 2012

Environment: Ecommerce Conversion Rates Statistics

http://www.marketing-online.co.uk/wiki/Ecommerce_Conversion_Rates_Statistics

Overall site session (visit) conversion rate

Visitor conversion

Shopping basket conversion rate

Session search conversion rate

as reported in the Coremetrics example

ratecalculated by dividing the number of conversion events by the number of unique visitors within a defined time period.

percentage who add item to basket who convert, e.g.

(percentage of visits which include a search (notice that conversion rate and average order value (AOV) tends to be higher for these visitors

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When benchmarking conversion rate, site owners should go beyond headline conversion rates to compare these four key types of conversion rate:

Situation: Ecommerce Conversion

http://index.fireclick.com/

Situation: Ecommerce Conversion 2

IBM 2011 Coremetrics Holiday Benchmark Reports

Luxury Institute research revealed that, of the customers who shop for high-end merchandise online, 78 percent of them did so in order to find the best price while nearly as many, 77 percent, did so to compare brands (BrandWeek, January 2010).http://www.bazaarvoice.com/resources/stats#Conversion

Customer Stories campaign drove 13,000 new prospects for La-Z-Boy. (La-Z-Boy, 2009)

http://www.bazaarvoice.com/resources/case-studies/improve-all-marketing/374-stories-lzb

Situation: Social commerce

Wealthy people tap social networking sites, comment on blogs Sophisticated Investor - MarketWatch

SANTA MONICA, Calif. (MarketWatch) -- Facebook, MySpace, and YouTube aren't just destinations for tweens -- wealthy people frequent these sites, too.

24% of wealthy Internet users -- almost one in four -- are joining teens and twenty-somethings on social networking or "social media" sites such as Facebook and MySpace. Of this group, 69% maintain a profile on at least one site.

More than half of the wealthy Internet users surveyed, or 52%, read blog postings -- and they're commenting on them, too, according to HNW's Wealth and New Media study. In fact, 20% of respondents say they've commented on a blog and almost one-in-five of these do so daily or weekly

More than one-third of Web surfers aged 44 to 54 said they visit a social networking site, and 19% of those 55 and older said they do. The highest percentage is among those aged 18 to 44, of whom 50% said they visit such sites.

Yet 72% of wealthy Web surfers aged 45 to 54 said they read blogs, compared with 69% of those aged 18 to 44 who said they do.

According to the 2007 Pew Internet & American Life Project Survey, 95% of those with an annual income of $100,000 or more use the Internet. In fact, not only are high-net-worth consumers online, their mastery of new media goes well beyond email.

For example, about half of wealthy people aged 45 to 64 use instant messaging, and 21% of those 65 and above IM. The biggest segment, 70%, of IM use is by those 18 to 44, but the numbers show that people across the board are more tech savvy than previously imagined.

By comparison, 50% of teenagers ages 13 to 18 use instant messaging services, according to an Associated Press-AOL poll.

AttractionVisitor acquisition cost – 0.74 % change in NPVVisitor growth – 3.09 % change in NPV

ConversionCustomer conversion rate – 0.84 % change in NPVRevenue per customer – 2.32 % change in NPV

RetentionCost of repeat customer – 0.69 % change in NPVRevenue per repeat customer – 5.78 % change in NPVRepeat customer churn rate – 6.65 % change in NPVRepeat customer conversion rate – 9.49 % change in NPV

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Agrawal et al. (2001) have performed a further analysis where they modeled the theoretical change in net present value contributed by an e-commerce site in response to a 10% change in these performance drivers:

This modeling highlights the importance of on-site marketing communications and the quality of

service delivery in converting browsers to buyers and buyers into repeat buyers.

http://www.marketing-insights.co.uk/wnim0502.htm

Customer value

Target: Consum - Author

Consum-Authors Future Concept Lab, February 2010

Posh Tweens (8-12 years): Expo Teens (12-20 Years): Linker People (20-35 years): Unique Sons (20-35 years): Sense Girl (25-40 years): Mind Builders (25-50 years):

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www.c4e.es/docs/FCLconsumauthors.pps

http://www.futureconceptlab.com/FCLconsumauthors

http://www.mckinsey.com/practices/marketing/ourknowledge/pdf/Solutions_AllVisitorsAreNotCreatedEqual_consumer.pdf

Target: Online Consumers

ONLINE GOALS

Target market strategies the evaluation and selection of appropriate segments and the development of appropriate offers.

Positioning and differentiation strategies.

Define online customer value proposition (OVP).

Resourcing - Internet marketing priorities

Internet will primarily complement the company’s other channels or primarily replace other channels

CRM focus and financial control the balance on investment on customer acquisition and retention

Attraction

Conversion

Retention

Market and product development strategies

Market penetrationsell more existing products into existing markets

Market development sell into new market

Product developmentdigital products or services

can be developed that can be delivered by the Internet.

Diversificationnew products are developed which are sold into new markets

Organisational restructuring required.

how should internal structures be changed to deliver e-marketing

how should the structure of links with other organisations be changed to achieve e-marketing objectives

Channel structure modifications.

Disintermediation (sell-direct)

Create new online intermediary (countermediation)

Partner with new online or existing intermediaries

Do-nothing!

Company goal

Company Target

http://www.marketing-insights.co.uk/wnim0502.htm

Objective Sell

Objective Serve

Objective Speak

Objective Save

Objective Sizzle

Define objectives for selling to the customer online

Define objectives for serving the customer online

Define objectives for speaking to the customer online

Define objectives for saving online

Define objectives for enhancing the brand online

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5 key goals of Online Marketing

http://www.davechaffey.com/E-marketing/c1-introduction-to-e-marketing

Improve Number of Leads -

Improve the Quality of Online Leads -

Improve the Overall Online Experience -

Improve the Engagement Rate -

Move Prospects Through the Buying Process/Funnel -

Increase the Number of Qualified Visitors to your sites -

Reduce Cost of Leads -

Increase Online Inquiries -

Promote Offline Sales -

Deliver Customer Service and Value to Your Target Market(s) -

bottom line is lead generation and improving ROI.

better leads can mean quicker and potentially more sales.

keep your users' needs first and foremost to help build lifetime value and relationship. Improving the online experience will help improve repeat visits and help generate top of mind awareness.

engaging the user with proper use of conversion triggers and calls to action can help increase the number of leads that are generated.

A key goal for B2B marketers should be to help solve the needs of their prospects by providing them with all of the information they need to make a purchase decision as they work through the buying funnel.

increasing the number of qualified visitors to your site means a greater chance for obtaining more qualified leads.

an effective online strategy can help reduce the cost of each lead that is generated.

one of the more important conversions that B2B marketers should focus on is to increase online inquiries that have the potential to become qualified leads. Depending on the phase of the buying funnel the user is at, you can use your online marketing strategy to intercept the prospect and increase the number of email requests or phone calls for additional information inqueries that the user may have.

use online to drive offline business. The majority of actual B2B transactions will take place offline.

rounding out the top 10 online marketing goals for B2B marketers is delivering value to your site visitors. No explanation is needed as providing customer interception points and delivering effective customer service online can provide positive results offline.

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Top 10 Online Marketing Goals for B2B Marketers

http://www.marketing-jive.com/2007/06/online-marketing-goals-top-10-online.html

Internet Statshttp://royal.pingdom.com/2010/01/22/internet-2009-in-numbers/

Collectionshttp://www.rba.co.uk/sources/stats.htm

http://www.internetworldstats.com/stats.htm

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Other Resources

Luxury Online marketing Short

http://www.slideshare.net/IC_Agency/the-essentials-of-luxury-digital-marketing

luxuryfuturesgerdleonhardlondonmarch172009public-090317115310-phpapp02

http://www.slideshare.net/gleonhard/luxury-futures-the-future-of-the-luxury-market-gerd-leonhard-luxury-interactive-london-march-17-2009

Gerd Leonhard - Luxury Futurehttp://www.mediafuturist.com/

http://www.thewritemarket.com/marketing/index.php?marketing=business-plan&title=How%20to%20Write%20a%20Marketing%20Plan

Tutorial - Marketing Plan

Define which goals are the one of you companyFor each one write a little description scoping the goalFor each one define how you will measure the success

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Homework - Lesson 3