allocadia webinar: looking forward & back in marketing performance
TRANSCRIPT
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Welcome!Please see the instructions in ReadyTalk for connecting to audio.
@allocadia#mktgperformance
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Your Hosts
James ThomasCMOAllocadia
Katherine BerryChief Product Officer & Co-FounderAllocadia
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Join Us on Social
#mktgperformance@allocadia
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What We’ll Cover Today
1. Understanding Performance• Past, Present & Future!
2. Setting Meaningful Targets• 5 Recommendations for next year
3. Real-world Scenario• Global Marketing Organization
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Intro
Performance:Are we spending to plan?
+What are we gettingout of that spend?
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The Path to Performance
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Challenges with Performance Data
Challenges…• Complex• Things change• No time• Status quo• Data in silos• Analytics expertise
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Analyst Data
Analyzing Performan
ceSource: VentureBeat Report: The State of Marketing Analytics: Insight in the age of the customer (2015)
Does your company formally evaluate your marketing analytics for quality and accuracy?
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Analyst Data
Source: VentureBeat Report: The State of Marketing Analytics: Insight in the age of the customer (2015)
In terms of total time spent generating analytics reports, what percent of your time is spent on the following:
Reporting on the
past
Analyzing
thepresent
Predicting/influencingthe future
Analyzing Performan
ce
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Recommendation: Gathering Data
Start With Either Past Or
Present
PresentPast
PresentPast
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Gathering Past Data
1. Finance systems1. Spend/Commit data
2. CRM 1. Revenue/Pipeline data2. Campaign Influence data
3. Marketing automation1. Campaign Results data
4. Social4. Brand Data
5. Web analytics4. Activity Data
Start with a view of what
you spent then work
your way up the funnel
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Gathering Present Data
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Recommendation: Metrics to Gather
CMO / VP of Marketing
Field & Corporate Marketing
Marketing Operations Efficiency | Bus, Mark, Org
Finance Accuracy | Org
Output | Marketing
Impact | Business
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Recommendation: Analytics Approach
Top-down vs. Bottoms-
up
Aggregated vs. Granular
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Reminder on Attribution
1Single Touch
100% credit to last or first touch
2Rules
Credit to each touch based on specific business rules
3Statistically DrivenCredit to each touch based
on a data driven model
Regression modelProbabilistic model
Evenly weightedCustom weighted
Time decayPosition based
First TouchLast Touch
SophisticationAccuracy / InsightCost / Complexity
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Recommendation: Gathering Future Data
Start with simply
combining Past Actuals +
Future PlanPast Actuals + Future Plan
= Forecast
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Setting Performance
Targets
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Components of Performance Measurement
• Goals• Targets• KPIs• And
motivation!
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The Importance of Performance Targets
Benefits Challenges• Focus• Accountability• Alignment• Motivation
• Too aggressive = cut corners
• Too moderate = not enough fire
• Morale can suffer when you don’t hit targets, important to re-adjust
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Recommendations for Performance Targets
1. Start with an understanding of the overall business goals.
Ensure marketing targets are aligned with company goals.
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Recommendations for Performance Targets
2. Fine-tune your targets.
Historical data or present conditions will help you to make these small adjustments.
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Recommendations for Performance Targets
3. Compare your targets to relevant benchmarks.
Historical, industry and analyst benchmarks can further optimize your targets.
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Recommendations for Performance Targets
4. Internal communication is essential.
Well-defined marketing targets inspire marketers to define individual performance goals.
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Recommendations for Performance Targets
5. Empower your marketers to hit targets
Well-defined strategic marketing plans help you to more accurately forecast and therefore hit targets.
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Recommendations for Performance Targets
Scenario Planner Strategic AlignmentPlanner
Revenue PerformancePlanner
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Analyst Data
Reviewing Plans
Source: Ventana Research Next-Generation Business Planning Benchmark Research
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ExampleScenario
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Example Scenario
Creates the Strategic Plan
• Outlines top 3 strategic goals within a document
• e.g. Goal: Drive $100M in net new revenue
VP of Marketing, Monarch Tech Inc.Scenario: It’s September 2016. The company has just completed its yearly strategic planning conference.
1 Identifies High-level Targets2 Communicates
Plan to Stakeholders
3• Outlines top 1-3 KPIs
per goal• e.g. Target: Invest 10%
of revenue in marketing programs
• Share with C-level execs as well as Operations
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Example Scenario
Gathers Data
• Either manually or through automated connectors within a system like Allocadia
VP of Marketing Ops, Monarch Tech Inc.Scenario: It’s October 2016. He’s received the strategic plan and needs to operationalize it.
4 Analyzes Performance5 Fine-tunes Targets
& KPIs6• Through:
• Data visualizations• Audit trail
• Targets e.g. Starts with $100M marketing investment target divided into regions and business units
• Breaks it down to specific targets for particular Regions and/or BUs
• KPI e.g. All Business Units to be Over/Under Target by 3%
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Gathering the Data
Step 4: Ops has connected their investment and returns performance data to Allocadia.
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313131Step 5: Ops uses Allocadia reports (& audit trail) to look at a historical FY view of performance.
Investment Target vs Actual Returns Target vs Actual
Analyzing Past Performance
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Example Scenario
Empowers marketers to build a strategic plan & hit targets!
• Gives them visibility into: • Functional Targets• Strategic Targets• Estimated Revenue Impact
VP of Marketing Ops, Monarch Tech Inc.Scenario: It’s November 2016.He now needs the marketing organization to build a plan that meets targets.
7
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333333Step 7: Marketers see functional and strategic targets as well as estimated revenue impact.
Empowering your marketers to hit targets
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Example Scenario
He presents the operationalized plan
VP of Marketing Ops, Monarch Tech Inc.Scenario: It’s December.He now needs to present the plan to stakeholders to demonstrate alignment.
8• Showing the plan is:
• On track to be on Target• Aligned to objectives• Has enough output to impact
revenue
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353535 Step 8: A view of the strategic marketing plan aligned to targets.
The Strategic Plan
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Example Scenario
On-going Visibility into Performance – in Real-time
VP of Marketing Ops, Monarch Tech Inc.Scenario: It’s January.The marketing team is executing. He needs to monitor performance on-going and make adjustments to targets as need be.
9• Forward-looking view of performance• Can course correct early and often
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373737Step 9: Monitor performance in real-time with a forecasted view of performance.
Future View of Performance
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Key Takeaways
1. Understand your business objectives to set meaningful targets.
2. Invest time in communicating those targets and giving marketers visibility into their progress.
3. Aim for a real-time forward-looking view of performance.
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Questions
Type your questions in the comment box
#mktgperformance
@allocadia
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Additional Resources
The Gold Medal Playbook of
Marketing Planning (eBook)
Strategic Planning for Modern
Marketers (Ventana Research
white paper)
Plus on-demand webinars:
• 5 Marketing Planning Best Practices to Achieve of your Objectives
• How to Align Campaign Plans & Budgets with SiriusDecisions & Allocadia
All available on the Resources section at allocadia.com
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Thank you!
James ThomasCMOAllocadia
Katherine BerryChief Product Officer & Co-FounderAllocadia
#mktgperformance
@allocadia