2016 03-14 - lethbridge university - stop wasting your budget
TRANSCRIPT
MANAGEMENT STUDENT PROFESSIONAL DEVELOPMENT
“ Half the money I spend on advertising is wasted; the problem is don’t know which half. – John Wanamaker
– First retailer to place a half-page newspaper ad (1874)– And the first full-page ad (1879)
AGENDA
• Marketing Metric ROI Model
• Case Study: Grants
International
• Advertising & Testing Model
MARKETING METRICS SYSTEM
METRICS(/)
MEASURES(Data) KPIsMARKETING
AND SALES
Investment $
Cost $ per ImpressionVisit Rate
%V / I
Lead Rate %
L / VOffer Rate %
O / LTake Rate
%S / O
Revenue $ ROMI $
Cost $ per Visit
Cost $ per Prospect
Cost $ per Offer
Cost $ per Sales
17 Essential Marketing Metrics
https://www.linkedin.com/pulse/17-essential-marketing-metrics-customer-acquisition-jeff-nelson
“DO MORE WITH LESS”
WHEREDID YOU
HEARABOUT
US?
This Question Is Key
VERY WORTHWHILE BENEFITS
• Maximum return on most marketing dollars• Continue buying or buy more• Stop buying when leads dry up• Monitor if campaigns meeting expectations• Predict volume of leads and staff accordingly• Set accurate sales targets• Test new media and A-B test in existing media• Negotiate price on media buys
TIPS TO CUT WASTE
• Know your funnel• Ask the key question• Know your measures• Know your KPIs• Test to beat control
MX3 METRICS SOFTWARE – MEASURES
MX3 METRICS SOFTWARE – CHANNEL DETAIL
MX3 METRICS SOFTWARE – TRENDS
Digital Marketing
Tips for Digital Marketing
Tips for Digital Marketing
Compound Annual Growth Rate
QUESTIONS?@JeffXNelson @JakeBlumes