Bridging The Gap - Connecting ROI from Marketing to Finance

BRIDGING THE GAP

CONNECTING MARKETING ROI WITH FINANCIAL ROI

@garyedgar

MARKETING VS

FINANCE

HOW MARKETERS SEE FINANCE

•  Hate spending •  Constantly looking for justification •  Stick with what works

•  It’s always about the ‘bottom line’

HOW FINANCE SEES MARKETERS

•  Spend thrifts •  Want to do what’s cool – not

necessarily what’s practical

•  Creativity can’t be quantified

•  It’s all about ‘brand awareness’

HOW DO WE BRIDGE THE GAP?

•  How do you connect both areas efforts? •  How can you track and deliver metrics that

appease both departments? •  How do you get everyone to love one

another?

? SECRET FORMULA

THERE ISN’T ONE

WHAT ARE YOU TRYING TO MEASURE?

•  Sales •  Customer Satisfaction

•  Business Leads •  Cost benefits of social customer service •  Customer retention •  Etc….

MOTIVATIONS

•  Finance’s needs •  Marketing’s needs •  Where does the overlap

exist?

4 WAYS TO START

TRACKING GOALS

1. START ON THE SAME PAGE

•  What does success look like?

•  Define the related success metrics

•  Ensure the proper infrastructure exists

•  Formulate a plan a stick to it

•  Increase sales leads

•  100 new business leads generated through our website

•  Site analytics •  Trackable web links •  Ad or content tracking data

•  Formulate an approach/plan

2. SET MEASURABLE (& REALISTIC) GOALS

•  Be specific – vague goals generate vague metrics

•  Better goal-setting allows for a more targeted and specific campaign

•  More detail will probably cost more money

40% PAGE ENGAGEMENT

15,000 FANS IN FIRST YEAR

33% INCREASE IN PRODUCT SALES

3. TEST AND LEARN

•  Start small with a reasonable sample size •  Test your hypothesis before trying it on a

larger scale

•  Be nimble and be prepared to pivot with your execution

CASE STUDY •  Drive retail sales of the Husqvarna Toys at

the Lawnmower Hospital by promoting a an exclusive Facebook. offer

•  Offer targeted only to surrounding areas and for a limited time

•  Redemption was only available in-store

•  Links were tracked for clicks for buying intention

•  Redemptions were tracked in store

4. REGROUP AND SHARE

•  Deliver an ‘end-of-campaign’ wrap report to review

•  Focus on associated metrics and analytics •  Ensure report includes key insights, take-

aways and actionable items for follow-up campaigns

COMMON

MISSTEPS OF MEASUREMENT

LET THE NUMBERS WORK FOR YOU

ADD CONTEXT

AVOID DATA PORN

MAKE IT VISUAL

DATA INFORMS INSIGHTS

REVIEW

•  Start on the same page •  Set measurable (& realistic) goals

•  Test and learn •  Regroup and share

CONTACT Gary Edgar [email protected] +1 (416) 934-2119