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USING DATA TO ENHANCE MARKETING SUCCESS Ph

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@HighRockStudios

marketing 101

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mar•ket•ing

The act of communicating the value of a product, service or brand to customers or consumers for the purpose of promoting or selling that product, service, or brand.

Source: Wikipedia (https://en.wikipedia.org/wiki/Marketing)

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mar

The act of communicating the value of a product, service or brand to customers or consumers for the purpose of promoting or selling that product, service, or brand.

Source: Wikipedia (

Attention

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Measure

Implement

Marketing Cycle

Plan

Create

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What is Data? Information collected from market or

consumer research

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Data vs Creative

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@HighRockStudios

#HighRockStudios

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ART Brand

Messaging

Design

Medium/Media

Flair/Nuance

SCIENCE Market Research

Operations

Analytics

Tracking & Measurement

Successful Marketing Blends:

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The goal is to turn data into information and information into insight.

Carly FiorinaFormer CEO, HP

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Statistics Provide an actionable starting point

for marketing efforts

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Statistics are like bikinis.What they reveal is suggestive.What they conceal is vital.

Aaron LevensteinProfessor Emeritus of Business, Baruch College

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89.99% Correlation

Per Capita Consumption of Chicken and Total US Crude Oil Imports

Crudeoilim

ports

Chickenconsumed

Percapitaconsumptionofchickencorrelateswith

TotalUScrudeoilimports

Crudeoilimports Chickenconsumed

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

3.2Bbarrels

3.4Bbarrels

3.6Bbarrels

3.8Bbarrels

60lbs

50lbs

55lbs

65lbs

tylervigen.com

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Marg

arin

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Div

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DivorcerateinMainecorrelateswith

Percapitaconsumptionofmargarine

Margarineconsumed DivorcerateinMaine

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

2lbs

4lbs

6lbs

8lbs

3.96per1,000

4.29per1,000

4.62per1,000

4.95per1,000

tylervigen.com

99.26% Correlation

Divorce Rate in Maine and Per Capita Consumption of Margarine

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NicholasCage

Swim

mingpooldrownings

Numberofpeoplewhodrownedbyfallingintoapoolcorrelateswith

FilmsNicolasCageappearedin

NicholasCage Swimmingpooldrownings

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

0films

2films

4films

6films

80drownings

100drownings

120drownings

140drownings

tylervigen.com

66.6% Correlation

People Who Drowned by Falling Into a Pool and Nicolas Cage Films

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Anatomy of a Business decision maker

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Calculating Success Formulas for planning and developing

marketing strategies and tactics

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KPIs Key Performance Indicators

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KPI Examples• Website Quality Metrics: Unique Visits, Visit Duration, Avg.

Pages Visited, Completed Goals, Bounce Rate

• Social Media Engagement: Likes, Clicks, Comments, Shares, Mentions or Tags

• Email Performance: Open Rate, Click-Through Rate, Unsubscribes, Forwards

• Marketing Channel Ratio/Mix: Traffic Volume, Number of Leads (Web, Phone, Walk-In) Per Source

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Marketing ROI Profit − Cost To Market

Cost To Market

Calculate ROI based on gross profit for the products/services you are selling, not simply revenue.

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Cre

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s://

visu

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The ROI of Your Mom

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Cost per Acquisition Total Sales − Total Marketing Costs

Number of New Customers

Look at each individual marketing channel to see the direct costs of acquiring a customer

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Lifetime Value Avg. Total Revenue of a Repeat Customer

(Avg. Sale Value) x (# of Repeat Sales) x (Avg. Retention Time)

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dit:

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Starbucks Customer LTV

#HighRockStudios

@HighRockStudios

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Starbucks Customer LTV

#HighRockStudios

@HighRockStudios

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Starbucks Customer LTV

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Measurement Tools and resources for measuring success

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Google Analytics• Acquisition – How visitors get to the website

• Behavior – What visitors do on the website

• Conversions – Why visitors become customers (or complete tasks)

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Google Analytics

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Google Analytics

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Google Analytics

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• Engagement Actions – Likes, Comments, Shares, Posts, Clicks

• People – Demographics, Personal Info, Location, Active Times

• Posts – When Your Fans Are Online, Success of Post Types, Top Posts from Competitor Pages

Facebook Insights

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Facebook Insights

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Facebook Insights• Objectives

- Post 2-3x per week - Increase brand awareness and engagement with influencers, partners and

consumers - Promote new products, product demos, customer tools & resources, and

upcoming events (tradeshows, REHAU classes)

• Key Metrics to Track - Number of Likes, Comments, Shares, Post Clicks and Direct Messages - Number of visitors referred (referrals) to REHAU website - Number of form completions (leads) referred from Facebook

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• Engagement – Look at actions rather than reach

• People – Demographics, Location, etc.

• Posts – Topics, Targeting, Paid Promotions/Sponsorships

Other Insights

Kelsi Waltemire Jason Miller

Measurement ToolKit • Google Analytics – www.google.com/analytics/

• Social Media Analytics (Facebook Insights, LinkedIn, Twitter, Instagram, YouTube, etc.)

• Email Analytics (MailChimp, Constant Contact, Exact Target)

• Google Alerts – www.google.com/alerts

Kelsi Waltemire Jason Miller

Industry Research & Info • Think With Google - www.thinkwithgoogle.com

• Facebook IQ - insights.fb.com

• Google Trends - www.google.com/trends

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Marie Forleo @MarieForleo marieforleo.com

Gary Vaynerchuk @garyvee youtube.com/GaryVaynerchuk

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Questions?

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Jason Miller Email: jason@highrockstudios.com

Phone: 301-791-1221 x113

LinkedIn: www.linkedin.com/in/jpatrickdesign/

Ryan Lampton Email: ryan@highrockstudios.com

Phone: 301-791-1221 x101

LinkedIn: www.linkedin.com/in/ryanlampton