pub355: doing the math – online marketing kpis

Doing the Math#%$ or @;-P

Twitter @boxcarmarketing

monique@boxcarmarketing.comtwitter: @boxcarmarketing

Online marketing is how we relate to each other and how we relate to the

organizations that serve us.

• Conversation

• Collaboration

• Community Test

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It’s not the tools, it’s how we use them

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The Culture of the Web

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Clay Shirky ... that the web is a network of people who organize themselves

monique@boxcarmarketing.comtwitter: @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

monique@boxcarmarketing.comtwitter: @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

monique@boxcarmarketing.comtwitter: @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?

monique@boxcarmarketing.comtwitter: @boxcarmarketing

http://TheConversationPrism.com

Conversation, Collaboration, Community

test

monique@boxcarmarketing.comtwitter: @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

monique@boxcarmarketing.comtwitter: @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?

monique@boxcarmarketing.comtwitter: @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

monique@boxcarmarketing.com

Draft 3: Due December 9 before 5 pm

•Email to monique@boxcarmarketing.com

•Survey: Peer Review