p a g e | 1 marketing communications strategies dr. ajay k. sirsi [email protected]
TRANSCRIPT
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Agenda
• How to make strategic marketing communications decisions– The old and new of marketing communications– How to communicate anything to anyone, anytime– A step-by-step process for designing winning
marketing communication strategies– Measuring the ROI of marketing communications
P a g e | 3Source: Ajay K. Sirsi: Marketing: A Roadmap to Success (Pearson)
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Agenda
• How to make strategic marketing communications decisions– The old and new of marketing communications– How to communicate anything to anyone,
anytime– A step-by-step process for designing winning
marketing communication strategies– Measuring the ROI of marketing
communications
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Feedback Target’sresponse
Message as received bythe target
Targetevaluates the message
Selectmessage channel
Encode theMessage
Start
Message as intended
NoiseCompeting ads, other salespeople, distractions
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Agenda
• How to make strategic marketing communications decisions– The old and new of marketing communications– How to communicate anything to anyone,
anytime– A step-by-step process for designing winning
marketing communication strategies– Measuring the ROI of marketing
communications
P a g e | 7Source: Ajay K. Sirsi: Marketing: A Roadmap to Success (Pearson)
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P a g e | 9Source: Ajay K. Sirsi: Marketing: A Roadmap to Success (Pearson)
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P a g e | 14Source: Ajay K. Sirsi: Marketing: A Roadmap to Success (Pearson)
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Agenda
• How to make strategic marketing communications decisions– The old and new of marketing communications– How to communicate anything to anyone,
anytime– A step-by-step process for designing winning
marketing communication strategies– Measuring the ROI of marketing
communications
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Importance of Marketing Communications Metrics
• In firms where there are metrics for marketing communications, there is a 13 percent dissatisfaction rate with marketing
• In firms where there are no metrics, the dissatisfaction rate is 37 percent
• 57 percent of companies measure the results of their marketing efforts
• Companies that measure their marketing results increase their annual marketing budgets an average of 11.2%
– While those that do not measure marketing results decrease their budgets by 6%
Source: Blackfriars Communications Inc.
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Metrics For Advertising
• Client evaluation of creative– In terms of content, does the advertisement
communicate the strategic objectives?– Does the advertisement reflect the positioning
strategy of the brand (company)?– Does the execution of the ad meet above criteria?– Is the ad memorable?– Is the brand recognition effective?
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Metrics For Advertising
• Advertising awareness– Recognition tests
• Respondents asked if they can recall an advertisement for a particular brand
• Respondents asked if they can recall particular points made in the advertisement
– Recall tests• Unaided recall (better method)• Aided recall
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Metrics for Advertising
• Recall tests– Intended to measure impact of advertising
• What did the ad actually communicate?• What was the primary message?• What did respondents like about the ad?• What did respondents dislike about the ad?• Level of purchase intention (intention to
become a customer)
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Metrics for Advertising
• Sales increase• Number of new customers attracted• Increased sales from current customers
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Event Marketing
• Event marketing includes large and small events– Trade shows– VIP events– Sponsorship of industry events
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Metrics for Event Marketing
• Number of customer interactions at event• Sales leads• Brand awareness• Brand perceptions• Customer response
– To event– To subsequent direct marketing efforts
• For example, certain potential customers could be sent invitations to special events
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Recommendations For Events• Measure effects of all kinds of events, not just trade shows• View events as sales tools
– Make event relevant to your customers– Make a compelling offer
• Instead of handing out pens with the corporate logo, hand out case studies and white papers offering solutions to customer problems
– Nurture and follow up until the deal is closed• Once the event is over, the relationship with the prospect is just beginning
– Use tools to follow up with the customer (e.g., webcasts, articles, etc.)• Measure every element of the event for its possible contribution, or detraction, from your
marketing objectives– Staff
• Was the staff knowledgeable?• Did we have the right mix of staff at the event?
– The exhibit• Are we giving customers the information they are looking for?
– Or, are we being internally focused?– For example, Intel found that while event attendees wanted information on current
problems, Intel was focusing on providing them information on future technologies – Demos– Design
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Metrics For PR Activities
• Count clippings• Measuring impressions
– Based on circulation of the medium• Measuring brand awareness
– Establish pre-PR objectives– Measure post-PR brand awareness
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Metrics For Media Relations
• Cannot be tied back to financial benefits clearly and easily
• Metrics should focus on– Frequency of mentions– Number of favorable mentions– Speed with which press releases are picked up
and published (or broadcast)– Ratio of publications to number of press releases
sent
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Metrics for Community Investment Activities
• Examples: charitable gift giving• Should not be considered a marketing expense
– Should be viewed as a corporate expense
• Metrics– Corporate brand identity measurement– A quantitative tool is provided on the next slide– The tool is easy to administer, can be used on the phone– Brand equity is measured on a 7-point scale– Brand equity can be tracked over time and against competitors
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Allocation Between Different Marketing Communications Tools
• Companies are reducing their advertising budgets• Companies are increasing their allocation to other approaches
– Direct marketing – PR– Event marketing– Social media
• Companies are experimenting with “non-traditional” approaches such as word-of-mouth, buzz marketing, and viral marketing– These techniques are not easily measured, however– Business executives appear to be experimenting with these
techniques
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Allocation of Marketing Communication Dollars
• Closely tied to branding and overall customer strategy
• Branding strategy– What brand identity (brand associations) are we
trying to develop?• Overall customer strategy
– Reduce customer defection rate– Increase customer usage rate– Attract non-customers
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Final Thoughts
• Integrated Marketing Communications (IMC) is the key– Based on brand objectives– Based on customer objectives
• So, view allocation between marketing communication tools as a strategic, not tactical, activity– Do not approach this problem without thinking about
corporate brand strategy• In the end IMC should impact in a positive way
– Market share– Profitability– Employee satisfaction– Customer satisfaction
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