accounting for spend in the digital age' presentation at university of ulster
TRANSCRIPT
“Accounting forMarketing Spend in
the Digital Age”
Philip AlfordBournemouth University
[email protected]@philipalford on Twitter
Key ‘takeaways’1. You can’t measure ROI in a traditional sense in a
digital age.
2. Have clear goals (some quantifiable others more qualitative) for integrated digital campaigns to benchmark against.
3. Adopt a ‘test and learn’ approach over shorter cycles.
4. Have a suite of tools to assist in your tracking and learn how to use them!
Components of digital marketing
Source: Adapted from Chaffey and Ellis-Chadwick (2012)
Digital – a changing landscape
• #Socialnomics 2014 by Erik Qualman:• https://www.youtube.com/watch?
v=zxpa4dNVd3c
Explosive growth in social media
http://www.personalizemedia.com/the-count/
Changing consumer
• ‘The Break-Up’ is about the relationship between an advertiser and a consumer.
• https://www.youtube.com/watch?v=D3qltEtl7H8
Marketing Science Institute
Research priorities 2014-2016:
http://www.msi.org/research/2014-2016-research-priorities/
Rules of thumb
• For example, for every US $80 spent on driving traffic to websites companies spend only $1 converting that traffic, according to Omniture.
• Avinash Kaushik’s 90:10 rule that you should spend $90 on people (including education and training) for every $10 spent on analytics tools.
• Challenge is less about technology and data and more about people and processes.
We had this conversation as well, we started to talk about measuring, and the challenges in the good old days, someone could ring up your staff and do a holiday booking and say where did you find us, and they’d say oh we saw your advert in whatever newspaper, oh great, there you go. Since Google and websites and things like that it’s the routes they take to actually end up on your site. Trying to find that route of how they made their journey actually into your company is almost impossible nowadays.
We had this conversation as well, we started to talk about measuring, and the challenges in the good old days, someone could ring up your staff and do a holiday booking and say where did you find us, and they’d say oh we saw your advert in whatever newspaper, oh great, there you go. Since Google and websites and things like that it’s the routes they take to actually end up on your site. Trying to find that route of how they made their journey actually into your company is almost impossible nowadays.
Holiday homes letting agency, Poole, Dorset; 5 staff
A short interview with Paul Dredge, Associate Director, Rumsey Holiday Homes on his priorities for digital
https://www.youtube.com/watch?v=qe1eaALXrC0
Opportunity cost of digital marketing
• Bharadwaj, P., & Soni, R. (2007)
• Simmons, G., Armstrong, G., & Durkin, M. (2008)
Themes emerging from Digital Destinations study
Customer engagement value
Kumar, V., L. Aksoy, et al. (2010). "Undervalued or Overvalued Customers: Capturing Total Customer Engagement Value." Journal of Service Research 13(3): 297-310.
Conversation marketing
Co-Creation
Digital: Is it really a paradigm shift?
The 4Cs of Gen C• Creation• Curation• Connection• Community• https://www.thinkwithgoogle.com/articles/enga
gement-project-new-normal.html
"Why don’t we flip that 100% winnowed to 30% winnowed to 5% funnel? Rather than starting by thinking about how to
reach or broadcast to as many people as possible to get to those who matter, what if we began with engaging those who are
the most likely to care? "
Hoffman & Novak’s LEAD model1. Listen
2. Experiment
3. Apply
4. Develop
Hoffman, D. L. & Novak, T. P. 2011. Marketing communication in a digital Era. Marketing Management, 20, 36-43.
Attentive.lyhttp://vimeo.com/49986794
True Social Metrics
http://www.kaushik.net/avinash/best-social-media-metrics-conversation-amplification-applause-economic-value/
Measurement is key
‘Not everything that can be counted counts, and not everything that counts can be counted”
Types of data• What? – clickstream data – analyse data to provide insight
and set goals and targets;• How much? – outcomes analysis – what did people do as
a result of visiting our website? Set up goals in Google Analytics;
• Why? – testing and voice of customer; why is your bounce rate is so high? Why do they leave your site on a particular page? Ask customers is the only option. Conduct surveys, Google Experiments, usertesting.com, etc;
Boiling pots!
We were talking about putting a strategy plan together, but actually it’s got to be more focused now, actually saying right, this month what we’re trying to get out of it. Is it number of likes we’re trying to get, is it number of bookings, and actually number of reviews at the end of it, and actually start to say right, this month we are focusing on this and that’s got to be our goal, because otherwise you can get lost amongst it all.
We were talking about putting a strategy plan together, but actually it’s got to be more focused now, actually saying right, this month what we’re trying to get out of it. Is it number of likes we’re trying to get, is it number of bookings, and actually number of reviews at the end of it, and actually start to say right, this month we are focusing on this and that’s got to be our goal, because otherwise you can get lost amongst it all.
Dorset Visual Arts, no FT staff – all freelance or board members
Developing the strategy
Situation: where are we now?
Objectives: where do we want to be?
Strategy: how do we get there?
Tactics: how exactly do we get there?
Action: what is our plan?
Control: did we get there?
@KarlHavard
An Engagement Framework
Ad
vo
ca
cy
S u s p e c t P r o s pe
ct C
ustomer Advocate
Inf lu
en c e r
I n t e r es t
Co
nv e r s i o n
A w
a r en e
s s
Digital marketing & measurement modelhttp://www.kaushik.net/avinash/digital-marketing-and-measurement-model/
The website as hub
Measuring a Twitter campaign at Paultons Theme Park, Hampshire
Final student reportsPaultons Park (Georgi Oliver working with Rob Lee)
Feedback on campaign
“To add 400 new followers in 7 days is a great result for us. When celebrities have mentioned us before we have had added around 100-200 new followers depending on
their following. Naturally Paultons Park generate around 20-30 new followers per week”
(Rob Lee, Digital Marketing Manager, Paultons)
Return on InvestmentOR
Return on Expectation?
