IS YOUR DIGITAL MARKETING WORKING?

January 2014

Tema Frank and Sharon Bell

tema@frankonlinemarketing.com

bellsharon@shaw.ca

Agenda

• Selecting what to measure based on your strategic

framework

• Some options for selecting the right measurement

approach

• Examples for learning that can be reapplied

What do we mean by digital?

• Online, web based (includes online advertising)

• Mobile

• Social networks

• Search engines

Stepping back

What is your strategic framework?

Digital and Online

• The marketing fundamentals still apply:

• Put a strategic framework in place

(consistent with your larger strategy)

AND

• Engagement will break through the clutter

• Test and measure, learn and adapt

Digital and Online

• Strategic Framework

• Who is your target audience? Why does that

make sense? And what matters to them?

• What is your competitive advantage? Where do

you add value for your customer ?

• What action do you want your target audience to

take?

• What are your key business goals?

But what else can we learn?

- Measurement sophistication has increased

- Social media vs. outcomes (online and offline)

- Correlation vs. causality

What are others tracking?

http://sherpablog.marketingsherpa.com/marketing/soc

ial-media-metrics-roi/

Example: Twitter

• TOMS Shoes “One Day without Shoes”

• One tool to share experiences: #withoutshoes

• Reach a key metric

• goal to reach 1 million people – tracked and reported each day

• But analytics also allowed the organizers to

• Look at responses by day and then by hour as got closer to April 16 –

lho was tweeting (eg celebrities) and how many retweeted – apply to

next year’s campaign

Source: www.simplymeasured.com

Metrics Can Tell You

1. Notice us?

2. Love us?

3. How can we improve?

4. Cost-effective?

1. Notice us?

Engagement Rate

Shares

Comments

Likes

2. Love us?

Share of conversation (what % of posts on relevant

topic mention us?)

• Positive, negative, neutral?

(eg. Maldives tourism)

• Impact on leads/sales?

Net Promoter Score (NPS)

Social Influence Marketing Score (SIM)

• NPS x conversation share x 1,000

3. How Can We Improve?

• Our Response Rate (<1/2 in q3 2012)

• http://www.socialbakers.com/blog/962-socially-devoted-brands-increase-response-rate-to-48-1-infographic

• Speed of Response

• User Activity Peak Times

• Analysis of Negative Content

• Conversion rates from:

Custom landing pages

Custom promo codes

Anything else?

4. Cost-Effectiveness Metrics

1. Customer Acquisition Cost (CAC) Total S&M cost incl staff, bonuses, overhead / new customers in

same time period

2. Marketing % of CAC Outside sales 10 – 30%; inside 20 – 50%; automated 60 - 90%

3. Customer Lifetime Value (LTV):CAC LTV=Profit per customer/churn rate

4. Time to payback CAC CAC / monthly profit per customer

Source: http://blog.hubspot.com/blog/tabid/6307/bid/34054/The-6-Marketing-Metrics-Your-CEO-

Actually-Cares-About-Cheat-Sheet.aspx Michael Volpe hubspot Jan 15, 2013

Measurement Challenges

Much is trackable, but…

1. Connecting and tracking through multiple systems

2. Correlation vs. causality

3. How to control for other variables

4. Potential reach vs. actual

Which benchmarks to trust? • Hubspot: 43% of B2B got customers via Facebook (77% in

B2C)

versus

• Optify: 82% of B2B social media leads come from Twitter;

outperforming Facebook and LinkedIn 9-to-1 with Twitter.

Definitional? Optify acknowledges that Facebook drives the most

traffic, but Twitter drives more leads (and LinkedIn has highest

engagement, measured as page views/visit)

http://offers.hubspot.com/marketing-statistics - esp State of

Inbound Marketing report

http://www.optify.net/wp-content/uploads/2013/01/Optify-2012-B2B-

Marketing-Benchmark-Report.pdf

Social Media Benchmarks

• Few exist; lots of variation by industry

• Inconsistency in reported benchmarks

• Changes in measurements

• example: Google’s SSL (“not provided” ~93% in Dec ’13)

Choosing The Right Tools

1. What questions are you trying to answer?

2. What information do you need? (e.g. Segmentation? Sources?)

3. What operational or resource decisions need to

be made? • What budget do you have?

• What staffing level is possible? (can you follow

through?)

http://www.convinceandconvert.com/social-media-

monitoring/social-media-monitoring-tools-how-to-

pick-the-right-one/

http://www.socialmediaexaminer.com/5-social-media-

monitoring-tools-to-simplify-your-marketing/

Some Examples: Measurement and Tracking tools

Exact Target/Salesforce/Radian 6 ($5 - $300/mo)

SproutSocial ($39 - $99)

Shoutlet

Moz Analytics (min $100/mo)

Spredfast

Peer Index

Klout

Followerwonk

Hootsuite (free - ?)

Wildfire

Socialbakers ($120+)

MarketSim

Simply Measured ($500+)

NEW: Mx3 Metrics

Some Examples

http://socialmediatoday.com/pamdyer/1458746/50-

top-tools-social-media-monitoring-analytics-and-

management-2013

Ask the Vendor 1. Difference between your tool and free tools?

2. How do you capture the data?

3. What is the TCO?

4. What is in your free support? What is in paid?

5. Segmentation capabilities?

6. Export formats?

7. Data integration with other tools?

8. Two new features/tools/acquisitions on the horizon?

9. Why did your last two clients you lost cancel? Can we talk to

them?

Source: Web Analytics 2.0 by Avinash Kaushik

Staying on top of your game Digital Marketing – Thursday April 3

You need digital and social media to play an effective role in your marketing and

communication plans. You recognize it is not about the technology but what we

do with it. Review fundamentals and practical advice, with examples and case

studies.

Build YOUR Marketing Plan – Wednesday March 12

What does a great marketing plan look like? The first half of the session will review

the key elements of a marketing plan, and in the second half, participants will

work on their own marketing plan.

Marketing – your Competitive Advantage - Wednesday February 26

Gain insight about marketing fundamentals – and how they work in the real world –

to contribute to market success. Learn about building brands (both with

employees and customers), the importance of customer insight, positioning your

product or service, finding the right marketing and communication mix,

measurement and more.

Register online at https://courses.macewan.ca/mee (MacEwan School of

Business Continuing Education) Registration discount for CPRS members,

please contact 780-497-5207 to request the discount coupon.

.

Staying on top of your game Metrics Madness: Is Your Client’s Digital Marketing Working? – Thurs. April 17

Learn what measurements make sense, work hands-on with some leading tools,

and learn how to identify and communicate the most relevant results to your

client or boss.

Check the MRIA website for registration details, which should be posted soon.

http://mria-arim.ca/chapters/alberta-chapter/alberta-chapter-events

More references

Social Media Metrics: How to Measure and Optimize Your

Marketing Investment (New Rules Social Media Series) by Jim

Sterne (2010)

Influence Marketing: How to Create, Manage and Measure Brand

Influencers in Social Media Marketing by Danny Brown (2013)

Occam’s Razor blog & analytics books Avinash Kaushik

Tema Frank’s Diigo Library https://www.diigo.com/user/temafrank