time your marketing mix

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Time Your Marketing Mix @electricmice #eftanalytics Time Your Marketing Mix Maximize Return using Attribution and Reservation Data

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Post on 28-Nov-2014

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Using a framework developed by Tim Wilson I discuss how to best time your marketing mix based on multi touch marketing attribution data.

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  • 1. Time Your Marketing Mix Maximize Return using Attribution and Reservation Data Time Your Marketing Mix @electricmice #eftanalytics
  • 2. Justin Goodman Marketing Analyst Internet Marketing Inc. Google Analytics and Adwords Individual Qualification 10+ Years in Internet Marketing Forbes Contributor Blogs Featured on SEOMoz Speaker at Digital World Expo, Dallas Digital Summit & IABC San Diego Lectured at Emory University on Web Analytics DAA Member http://www.linkedin.com/in/justinmgoodman Time Your Marketing Mix @electricmice #eftanalytics
  • 3. Analytics Helps to Answer Two Questions What are we trying to achieve? How do we know if weve done that? Time Your Marketing Mix @electricmice #eftanalytics
  • 4. All Decisions should include the following I Believe that [some idea] If I am right, I will [take some action] To test this, I will [tool/technology/approach] Time Your Marketing Mix @electricmice #eftanalytics
  • 5. The Idea Starting with a simple hypothesis: I believe that If we time our marketing mix properly, we will more effectively fill rooms Time Your Marketing Mix @electricmice #eftanalytics
  • 6. Race against the Clock Inventory Expires Timing is crucial Marketing Working with Revenue Manager Time Your Marketing Mix @electricmice #eftanalytics
  • 7. Filling the Money Jar Importance of Campaigns Understanding Marketing Initiative Goals Drive Visits Drive engaged Visits Drive Booking Drive social sharing Campaign Messaging in alignment with time and goals Time Your Marketing Mix @electricmice #eftanalytics
  • 8. The Action Sounds good, what does that actually mean? If I am right I will Use Timing data to drive budget allocation and marketing channel selection to appropriately push marketing messaging Time Your Marketing Mix @electricmice #eftanalytics
  • 9. The Tools/Technology/Approach - Data Collection So, How do I know if I am right? Is it working? Put a Time Stamp on All Marketing and Conversions Marketing Analytics Technology Convertro Tag Campaigns Appropriate to Analytics Software UTM and CVO Tagging Google Analytics and Convertro Track Booking and Arrival Date Hotel Reservation System and Analytics Software Track Reservation Value and additional details Hotel Reservation System Time Your Marketing Mix @electricmice #eftanalytics
  • 10. The Tools/Technology/Approach - Data Aggregation Connect Marketing Data to Reservation Data to see the Big Picture Collect Confirmation Number in both Marketing and Reservation System Database Convertro/Reservation System Combine All Data Excel? Tableau? MySql? Time Your Marketing Mix @electricmice #eftanalytics
  • 11. Connected Data Sample Time Your Marketing Mix @electricmice #eftanalytics
  • 12. The Tools/Technology/Approach - Measuring Return Identify Attribution Model Algorithmic? Even? Rules Based? Last Click? Time Your Marketing Mix @electricmice #eftanalytics
  • 13. Understanding Time to Order Note: Understanding the attribution model is important to understanding the TTO. As the model changes so does the TTO Time Your Marketing Mix @electricmice #eftanalytics
  • 14. What does the data Tell us? Building a Baseline What marketing channels have the longest time from interaction to order What channels and messages often act as influencers, introducers, closers? Time Your Marketing Mix @electricmice #eftanalytics
  • 15. What Channels and Messages often act as influencers, introducers, closers How much are affiliates really helping? What is retargeting influencing? Time Your Marketing Mix @electricmice #eftanalytics
  • 16. What does the data Tell us? Building a Baseline What messaging was most effective? Did it convert with less touches? Did it reduce TTO? Did special offers reduce the time to order? What channel was most effective to reduce time to order? VS. Time Your Marketing Mix @electricmice #eftanalytics
  • 17. Using The Data for Incremental Lift Now that we know what worked or didn't based on historical data Use baseline data to test against. Build out testing/marketing strategy Example: In 2013, when using retargeting we saw a decrease in TTO Test retargeting messaging Does including a promotional offer decrease TTO Further? Non-Branded paid search was often an Introducer Instead of pushing conversion will non-brand PPC be more helpful if the messaging is an emotional trigger? Should non-brand PPC focus on research? Time Your Marketing Mix @electricmice #eftanalytics
  • 18. Rinse and Repeat Time Your Marketing Mix @electricmice #eftanalytics
  • 19. Questions will be taken during the panel or follow up with me later @ElectricMice http://www.linkedin.com/in/justinmgoodman [email protected] Time Your Marketing Mix @electricmice #eftanalytics