The Art of the Marketing Scorecard Webcast by BECKON

Jennifer Zeszut CEO and CMO Beckon [email protected] @jenniferland

@jenniferland @BeckonInc #marketing #scorecards

Finance Baby Marketing Baby

MARKETING DATA IS MESSY DATA








Meet Beckon.


Meet Beckon.

MARKETING SPEND,

ACTIVITY, ROI

BRAND OUTCOMES

BUSINESS OUTCOMES


Meet Beckon.

MARKETING SPEND,

ACTIVITY, ROI

BRAND OUTCOMES

BUSINESS OUTCOMES

•  AUTOMATED DATA INGESTION AND TRANSFORMATION (ETL) •  NORMALIZED KPI AND METRIC DEFINITIONS •  CONSISTENT TAXONOMY AND TAGGING STRUCTURE

UNITED MARKETING PERFORMANCE DATA HUB


Meet Beckon.

MARKETING SPEND,

ACTIVITY, ROI

BRAND OUTCOMES

BUSINESS OUTCOMES




Meet Beckon.

MARKETING SPEND,

ACTIVITY, ROI

BRAND OUTCOMES

BUSINESS OUTCOMES

OTHER DASHBOARDS, MIX MODELS,

ANALYSIS TOOLS, DATA WAREHOUSES




Democratize the data


Continuously updated marketing dashboards



Continuously updated marketing

scorecards

DO YOU

KNOW WHAT’S

WORKING?


DO YOU

KNOW WHAT’S

WORKING?

Helping brands understand and beautifully communicate the business impact of everything that marketing does


Partner to savvy CMOs everywhere


In this session… •  Scorecards defined • History • Benefits •  Scorecard design frameworks •  Pro tips • Build your own…

23

23

Resources for you…

1. A copy of this presentation


BECKON SCORECARD BUILDERO

BJE

CT

IVE

KP

IM

ET

RIC

S

DEFINITIONS:Objective: Key marketing or business objective to be monitored or evaluated. Can be organized into a linear process (e.g., Buyers Journey) or a theme (e.g., Annual Marketing Goals or Campaign Performance).

Tip: State key marketing or business objectives in the form of a question.

Key Performance Indicator (KPI): The one metric that best describes the performance of the objective in question.

Metrics: The set of performance measures by which an objective is evaluated.

Types include:

• Top-level Metrics: Return on marketing objectives (ROMO) and return on marketing investment (marketing ROI)

• Volume Metrics: Impression and engagement volume, total sales and other outcomes.

• Effectiveness Metrics: Awareness, engagement, engagement rate, outcome, and conversion rate.

• Efficiency Metrics: Cost per impression, cost per engagement and cost per outcome.

Beckon Proprietary and Confidential. Contact [email protected] for more information.

2. Build-Your-Own Performance Scorecard Worksheet

3. A Sample Marketing Performance Scorecard

BECKON MARKETING DATA FRAMEWORKOB

JECT

IVES

METR

ICS/

KPIS

DATA

REP

ORTI

NGCA

TEGO

RIES

DATA

SOU

RCES

& CH

ANNE

LS

ONLINE OFFLINE

MARKETING ACTIVITIES OUTCOMES

BRAND BUSINESS

BUSINESS MARKETING CAMPAIGN CHANNEL BUYER’S JOURNEY

STRATEGIC METRICS(all-channel,

CMO level)

TOP-DOWN ANALYTICSStart with a goal,

then find the data.

• Scorecards

• Dashboards

BOTTOM-UP ANALYTICS

Start with data,then find the insights.

• Ad-hoc analysis

• Auto correlation

• Variances

VOLUME (COUNTS) EFFECTIVENESS (RATIOS) EFFICIENCY ($)

AGGREGATED METRICS(multi-channel,manager level)

ACTIVITY METRICS(single-channel,tactician level)

• Total new customers• Total sales• NPS• Net sentiment

• Engagement/Impressions ratio• Paid/Earned ratio• Aided awareness• Share of voice

• ROMI• ROMO• Cost per new customer• Cost per point of awareness

• Impressions by campaign• Engagement by channel• Sales by region• GRPs by DMA

• E/I ratio by campaign• P/E ratio by channel• Engagement rate by agency• Likes per post by channel

• Cost per impression by campaign• Cost per engagement by channel• ROMI per business unit• Sales per square foot by region

• Visits• Clicks• Likes• Sends

• Click-through rate• Conversion rate• Open rate• Cart abandonment rate

• Cost per click• Cost per thousand• Cost per point• Cost per attendee

MARKETING

• Funnel• P/O/E• Channel• Campaign

BUSINESS

• Product• Industry• Region• Competition

ORGANIZATIONAL

• Business unit• Department• Owner• Agency

CUSTOMER

• Segmentation• Type (new, old)• Demographics

EXECUTION

• Placement• Creative• Offer• Test/Control


Display

Email

Web

site

E-com

mer

ce

Mobile

App

SEOSEM

Face

book

Twitt

er

List

enin

g

Link

edIn

Video TV

Radio

Print

OO

H

Direct

Mail

PR

Event

s

Sponsors

hip

Cinem

a

In-S

tore

Retail

Call C

ente

r

Brand

Custo

mer

Compet

itive

Sales

E-com

mer

ceCRM

4. The Marketing KPI Framework

5. Marketing Scorecard Best Practices Whitepaper

Scorecard roots run deep…



1960s: The Balanced Scorecard


1980-1990s: Six Sigma


What is a marketing scorecard?

An information-dense way of reporting metrics

A nice visualization of data

Don’t let the pretty pictures fool you

A marketing scorecard


A marketing scorecard 1.  A data-driven marketing

performance measurement system that aligns marketing activities to business strategy and allows teams to monitor and improve their marketing over time.


A marketing scorecard 1.  A data-driven marketing

performance measurement system that aligns marketing activities to business strategy and allows teams to monitor and improve their marketing over time.

2.  A powerful storytelling vehicle for marketing’s success


Is a scorecard the same as a dashboard?


DASHBOARDS • Events and trends as they happen

SCORECARDS • Progress towards objectives

Is a scorecard the same as a dashboard?


DASHBOARDS • Events and trends as they happen

SCORECARDS • Progress towards objectives

• What’s happening

• How well you're doing

The hallmarks of a good marketing scorecard • Binds tactical metrics to a strategic framework. •  Reports performance against pre-specified criteria. •  Provides context to the data. • Are continuously updated. •  Lets you drill down into the detail.


1. Bind tactical metrics to a strategic framework.


CTR

views

pins

down-loads

friends

TRPs

clicks

MQLs

likes

views

re-tweets

fans visits

SQLs Impre-ssions

GRPs

opens



CTR

views

pins

down-loads

friends

TRPs

clicks

re-tweets

fans visits

SQLs Impre-ssions


INCREASE AWARENESS


friends

clicks

re-tweets

fans visits

SQLs Impre-ssions


INCREASE AWARENESS

DRIVE SALES


2. Report performance against pre-specified criteria.




THE MARKETING PERFORMANCE CURSE:

SELECTING PERFORMANCE KPIS AFTER THE MARKETING EFFORT


THE MARKETING PERFORMANCE CURSE:

SELECTING PERFORMANCE KPIS AFTER THE MARKETING EFFORT



Everyone should should know, upfront, the criteria by which they will be judged.

ü  Consistent campaign scorecard

ü  Consistent brand/product scorecard

ü  Consistent market/country scorecard


3. Provide context to the data.



10,000 followers!



10,000 followers!

SO WHAT? Is that good or bad?



55 @jenniferland @BeckonInc #marketing #scorecards


Current period performance versus previous period performance

PLANNED VERSUS ACTUAL

TREND

INTERNAL BENCHMARKING

Performance versus a comparable effort with similar scope and objectives

How are we tracking to where we planned to be?

EXTERNAL BENCHMARKING Performance versus industry averages or norms

Performance versus the same period last year HISTORICAL TREND (YOY)

56 @jenniferland @BeckonInc #marketing #scorecards

4. Is continuously updated.

Process or

Automation


5. Lets you drill down into the detail.


The elements of a scorecard


Objectives: A key marketing or business goal that you want to monitor and evaluate Remember to make them SMART: Specific Measureable Attainable Realistic Timely


KPIs: key measurements that best answer the questions you must ask in order to drive your objectives. KPIs are often derived—they are aggregate counts or ratios of two or more underlying metrics.


Metrics: the set of performance measures by which you’ll monitor and evaluate how well you’re meeting your objectives. Proper Scope: Activity, Aggregated, Strategic Proper Type: Volume, Effectiveness, Efficiency Do I have the data? •  Yes – ensure it has the proper Reporting Categorization •  No – how can I collect it?


What KPIs and metrics matter?


What’s the right scorecard for you?

BECKON SCORECARD BUILDER

OB

JEC

TIV

EK

PI

ME

TR

ICS

DEFINITIONS:

Objective: Key marketing

or business objective to be

monitored or evaluated. Can

be organized into a linear

process (e.g., Buyers Journey)

or a theme (e.g., Annual

Marketing Goals or Campaign

Performance).

Tip: State key marketing or

business objectives in the form

of a question.

Key Performance Indicator

(KPI): The one metric that best

describes the performance of

the objective in question.

Metrics: The set of performance

measures by which an objective

is evaluated.

Types include:

• Top-level Metrics: Return on

marketing objectives (ROMO)

and return on marketing

investment (marketing ROI)

• Volume Metrics: Impression

and engagement volume,

total sales and other

outcomes.

• Effectiveness Metrics:

Awareness, engagement,

engagement rate, outcome,

and conversion rate.

• Efficiency Metrics: Cost

per impression, cost per

engagement and cost per

outcome.



Options for structuring your omnichannel marketing scorecard • By the buyer’s journey • By business objective • By key campaigns • By marketing objective • By marketing channel • All of the above


By marketing channel


By marketing channel



By buyer’s journey

Pro tip: Build one master scorecard and toggle scopes








By business objective


By marketing objective


By key campaigns


Where to start: deep or wide? B

rand

1

Bra

nd 2

Bra

nd 3

…

KPI KPI KPI KPI KPI KPI KPI …


Where to start: deep or wide? U

S

Can

ada

Fran

ce

Spai

n…



Focused and deep U

S

Can

ada

Fran

ce

Spai

n…



Wide but shallow U

S

Can

ada

Fran

ce

Spai

n…



Do both if you can U

S

Can

ada

Fran

ce

Spai

n…



4 key takeaways


4 key takeaways • A marketing scorecard is not a pretty picture; it is a data-

driven performance measurement system that enables team alignment and performance optimization.




• Consider structuring yours around a buyer’s journey framework or other integrated set of objectives. (Avoid a channel-specific scorecard.)





• Make sure you have a plan for continuously updated data (by way of either automation or processes).





• Make sure you have a plan for continuously updated data (by way of either automation or processes).

• Be prepared for your scorecard to travel far and wide. Put your best foot forward.


If you do this right…


If you do this right…


1. A copy of this presentation


BECKON SCORECARD BUILDERO

BJE

CT

IVE

KP

IM

ET

RIC

S

DEFINITIONS:Objective: Key marketing or business objective to be monitored or evaluated. Can be organized into a linear process (e.g., Buyers Journey) or a theme (e.g., Annual Marketing Goals or Campaign Performance).

Tip: State key marketing or business objectives in the form of a question.

Key Performance Indicator (KPI): The one metric that best describes the performance of the objective in question.

Metrics: The set of performance measures by which an objective is evaluated.

Types include:

• Top-level Metrics: Return on marketing objectives (ROMO) and return on marketing investment (marketing ROI)

• Volume Metrics: Impression and engagement volume, total sales and other outcomes.

• Effectiveness Metrics: Awareness, engagement, engagement rate, outcome, and conversion rate.

• Efficiency Metrics: Cost per impression, cost per engagement and cost per outcome.


2. Build-Your-Own Performance Scorecard Worksheet

3. A Sample Marketing Performance Scorecard

BECKON MARKETING DATA FRAMEWORKOB

JECT

IVES

METR

ICS/

KPIS

DATA

REP

ORTI

NGCA

TEGO

RIES

DATA

SOU

RCES

& CH

ANNE

LS

ONLINE OFFLINE

MARKETING ACTIVITIES OUTCOMES

BRAND BUSINESS

BUSINESS MARKETING CAMPAIGN CHANNEL BUYER’S JOURNEY

STRATEGIC METRICS(all-channel,

CMO level)

TOP-DOWN ANALYTICSStart with a goal,

then find the data.

• Scorecards

• Dashboards

BOTTOM-UP ANALYTICS

Start with data,then find the insights.

• Ad-hoc analysis

• Auto correlation

• Variances

VOLUME (COUNTS) EFFECTIVENESS (RATIOS) EFFICIENCY ($)

AGGREGATED METRICS(multi-channel,manager level)

ACTIVITY METRICS(single-channel,tactician level)

• Total new customers• Total sales• NPS• Net sentiment

• Engagement/Impressions ratio• Paid/Earned ratio• Aided awareness• Share of voice

• ROMI• ROMO• Cost per new customer• Cost per point of awareness

• Impressions by campaign• Engagement by channel• Sales by region• GRPs by DMA

• E/I ratio by campaign• P/E ratio by channel• Engagement rate by agency• Likes per post by channel

• Cost per impression by campaign• Cost per engagement by channel• ROMI per business unit• Sales per square foot by region

• Visits• Clicks• Likes• Sends

• Click-through rate• Conversion rate• Open rate• Cart abandonment rate

• Cost per click• Cost per thousand• Cost per point• Cost per attendee

MARKETING

• Funnel• P/O/E• Channel• Campaign

BUSINESS

• Product• Industry• Region• Competition

ORGANIZATIONAL

• Business unit• Department• Owner• Agency

CUSTOMER

• Segmentation• Type (new, old)• Demographics

EXECUTION

• Placement• Creative• Offer• Test/Control


Display

Email

Web

site

E-com

mer

ce

Mobile

App

SEOSEM

Face

book

Twitt

er

List

enin

g

Link

edIn

Video TV

Radio

Print

OO

H

Direct

Mail

PR

Event

s

Sponsors

hip

Cinem

a

In-S

tore

Retail

Call C

ente

r

Brand

Custo

mer

Compet

itive

Sales

E-com

mer

ceCRM

4. The Marketing KPI Framework

5. Marketing Scorecard Best Practices Whitepaper

Jennifer Zeszut CEO and CMO Beckon [email protected] @jenniferland

[email protected]

QUESTIONS?


Thank You!


Date post:	08-Aug-2015
Category:	Marketing
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