pub355: doing the math – online marketing kpis
DESCRIPTION
Prep materials for draft 3 of the 7 Sentence Plan and test notes. Plus the wild and wonderful basic calculations for KPIs and other metrics for monitoring success of online marketing campaigns.TRANSCRIPT
Doing the Math#%$ or @;-P
Twitter @boxcarmarketing
[email protected]: @boxcarmarketing
Online marketing is how we relate to each other and how we relate to the
organizations that serve us.
• Conversation
• Collaboration
• Community Test
[email protected]: @boxcarmarketing
It’s not the tools, it’s how we use them
[email protected]: @boxcarmarketing
The Culture of the Web
[email protected]: @boxcarmarketing
Clay Shirky ... that the web is a network of people who organize themselves
[email protected]: @boxcarmarketing
• Markets are conversations.
• Markets are networks of people.
• Markets make buying decisions by talking amongst each other.
• Companies are networks of people.
• Companies should use a human voice instead of corporate-speak.
The Cluetrain Manifesto
[email protected]: @boxcarmarketing
• There’s been a relationship shift in the way consumers relate to products: before, during and after a purchase consumers are engaging with each other through blogs, peer-reviews and other interactive ways.
• Consumers are taking control over the messages that brands once controlled.
• For brands to survive this relationship shift they must engage with consumers within consumers’ communities.
Open Brand
[email protected]: @boxcarmarketing
7-Sentence Marketing Plan
Sentence 1: What is the purpose of your marketing?
Sentence 2: How will you accomplish your purpose?
Sentence 3: Who is your target market?
Sentence 4: What is your niche in the marketplace?
Sentence 5: What tools and tactics will you use to carry out your marketing?
Sentence 6: What is your business identity?
Sentence 7: How will you measure success and allocate time and budget?
[email protected]: @boxcarmarketing
http://TheConversationPrism.com
Conversation, Collaboration, Community
test
[email protected]: @boxcarmarketing
Online Public RelationsPRWeb, PRLeap
Have a look at the GA report for the Festival
There are 2 things businesses like to measure:
Things that lead to sales
Sales
Monique Trottier@BoxcarMarketing
Monique Trottier@BoxcarMarketing
Sales
Monique Trottier@BoxcarMarketing
Sales
Monique Trottier@BoxcarMarketing
Google Analytics: Annotations
Monique Trottier@BoxcarMarketing
$$$Investment
$$$FinancialImpact
Monique Trottier@BoxcarMarketing
MarketingActions
CustomerReactions
Non-financialImpact
KPI #1: Did we make money?Did we spend our money wisely? Should we continue?
Some times asked, what is the Conversion Rate?
•Conversion Rate = # of visitors who perform a desired action / Number of visitors to a page
•At what rate (or %) do customers take our desired action: buy a product, complete a form, etc.
$$$FinancialImpact
Customers
Sales
Calculate Conversion Rate
• If there are 100 visitors to the Purchase Tickets page and 5 people buy tickets, then the conversation rate is 5%
• (5 tickets/100 visits) * 100% = 5%
5 Purchase tickets
100 Visitors to ticket page
Test
$$$Investment
$$$FinancialImpact
Monique Trottier@BoxcarMarketing
MarketingActions
CustomerReactions
Non-financialImpact
KPI #2: What things lead to sales?How can we do more of the things that make money?
Things that lead to sales
SalesMonique Trottier
@BoxcarMarketing
Website Visitors
Twitter Followers
Facebook Fans RTs
Press Mentions
Email Opens
Customer Feedback
Things that lead to sales
Sales
Acquisition Website Visitors, time on site
ActivationNumber of pageviews, repeat visits, subscription (email, blog), account sign-up (profile data), Fan/Follower
Retention Email Opens, Click-throughs, Repeat visits
ReferralPress Mention, RT,
Refers 1+visitors to the site; Refers 1+ visitors who activate
Monique Trottier@BoxcarMarketing
[email protected]: @boxcarmarketing
Pirate Goals
AcquisitionWhat can we do to acquire Visitors to the site?
ActivationDo Visitors take action, like follow us, friend us, subscribe?
Retention Can we retain visitors attention?
Referral Do they like us enough to recommend us?
Revenue Do they buy something?
[email protected]: @boxcarmarketing
AcquisitionWebsite Visitors, time on site, referral traffic from YouTube, Flickr and other social media
ActivationNumber of pageviews, repeat visits, subscription (email, blog), Fan/Follower
RetentionEmail Opens, Click-throughs, Repeat visits, Unsubscribes
ReferralPress Mention, Likes & Shares, Retweets, Refers 1+visitors to the site; Refers 1+ visitors who activate
Goals > Tools > KPIs(Sentence #1) (Sentence #5) (Sentence #7)
Revenue Event tickets, eCommerce purchases
A simple Contest
• Reach a new audience or reinforce our connection to an existing audience
Goal Lifecycle Action Reaction KPI
Reach a new audience
(500 new visitors during contest period)
AcquireActivateRetain
ListenIntroduce
ResponseVisit to the site
SubscribeReturn
@ / RT / CommentVisitors
Subscriptions (email/RSS)Fan/Follower
Account sign-upReturn Visits
Reinforce our connection to
existing audience(15% of repeat visitors
enter contest)
RetainReferralRevenue
Talk Pitch
Thank
ResponseVisit the site
ActRefer
@ / RT / CommentRepeat visitsEmail opens
CTR / Goal FunnelMentionsReferrals
Referrals who convert
A simple campaign to increase Online Sales
• Use Twitter or Facebook to inform prospects about special promotions. • Exclusive, limited-customer/limited time offers.
Goal KPI
Increase monthly sales from SMM by 10% # monthly sales attributable directly to SMM
Retain 80% of new customers# Repeat customers from that group
Unsubscribe rates
Terroryaki! 7 Sentence Marketing Plan Draft 3
Goal Lifecycle Action Reaction KPI
Be specific Persona
How are you going to
accomplish your goal, what tools/tactics will you
use?
Be as detailed as possible
What can you measure?
#, $, %
think about where in the lifecycle your persona is
Summarize #2, #5
Think about goal funnels, micro actions, things that influence a
sale
Each point along the funnel
Test
Section 7: KPIs
7%8%
10%
11%
29%
35%
Location OutreachFood & Drinks PrizePress Release Ads
Detail how your costs breakdown.
Test
How to Prepare for the Test Next Week
8 Questions Based on a Given Scenario. 3 Hours. No computer.
• Calculate Conversion Rate
• What makes a good press release headline, email subject line, tweet, FB status?
• Create 7-Sentence Grid View of a marketing plan
• What tools and tactics to use for a given scenario (and why)?
• Write a persona
• Twitter (@, RT, #)
• SPHERE
• Budget
Monique Trottier@boxcarmarketing