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MultiMinds - Marketing ROI through Monetization

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When the digital analyst or online marketeer talks about common metrics and KPIs, such as "average conversion rates" and "click-through paths", business managers roll their eyes, not least because they don't understand what these "things" mean.

But if you can take those same metrics and translate them into real euro values, the business owners are much more likely to get excited about them.

Monetization models assign euro values to desired site behaviors, most often those directly involved in driving your overall business, and is one of the most important tools a digital analyst has. The behaviors they quantify are different for every type of company and range from easy-to-measure e-commerce sites to more difficult ones like consumer-product-branding sites.

With his presentation, MultiMinds will show you how Monetization will help you to
- Understand the impact of specific site behavior
- Prioritize opportunities for optimization
- Measure the impact of optimization
- Focus your team to things that matter
- Understand the online channel's true ROI

Publié dans : Données & analyses
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MultiMinds - Marketing ROI through Monetization

  1. 1. BUILDING A MARKETING ROI ORGANIZATION THROUGH MONETIZATION Conversion Day Siegert Dierickx June 2014 siegert.dierickx@multiminds.eu @multiminds_eu
  2. 2. multiminds manage  measure  monet ize
  3. 3. FROM ANALYSIS TO OPTIMIZATION Business Goals & KPIs Measurement & Analysis Share Data & Insights Take Action
  4. 4. GUT FEELING? OR DATA DRIVEN? 1 • No decisions based on data 2 • Very few decisions based on data 3 • Decision making is sometimes guesswork and sometimes backed with data 4 • Most decisions are based partially on data 5 • We don’t make decisions without seeing if there is data we can leverage
  5. 5. A DATA DRIVEN ORGANIZATION… • USES BUSINESS GOALS TO DRIVE DECISIONS • AVOIDS GUT FEELINGS • EMPLOYS DATA DRIVEN STANDARDS SUCH AS ROI • SEGMENTS VISITORS ACCORDING TO NEEDS AND VALUES • LISTENS TO ITS CUSTOMERS
  6. 6. FROM ANALYSIS TO OPTIMIZATION Business Goals & KPIs Monetization & Prioritization Measurement & Analysis Share Data & Insights Take Action
  7. 7. BECAUSE WE WANT TO BE ABLE TO ANSWER: 1. WHICH CUSTOMER BEHAVIOURS PROVIDE MOST VALUE? 2. WHAT IS THE VALUE OF AN NON TRANSACTION ACTION? 3. WHAT IS THE VALUE OF THE EARN, BOUGHT, OWN MEDIA TO OUR BUSINESS? 4. HOW SHOULD WE PRIORITISE OUR MARKETING INITIATIVES?
  8. 8. A BUSINESS METRIC FOR ALL STAKEHOLDERS Stakeholder 1: Measures success based on KPI completions Stakeholder 2: Measures success based on Impressions monetized € values a common success metric Stakeholder 3: Measures success based on CPA Stakeholder 4: Measures success based on qualitative data
  9. 9. ONLINE SALES ONLINE OFFLINE OWNED EARNED BOUGHT
  10. 10. ONLINE SALES COST ROI REVENUE ONLINE OFFLINE OWNED EARNED BOUGHT
  11. 11. ONLINE SALES COST ROI PROFIT ONLINE OFFLINE OWNED EARNED BOUGHT
  12. 12. OFFLINE SALES ONLINE OFFLINE OWNED EARNED BOUGHT
  13. 13. OFFLINE SALES ONLINE OFFLINE OWNED EARNED BOUGHT COST ROI PROFIT
  14. 14. ONLINE INDIRECT Product Demos, Onsite Search, Facebook Likes, … Difficulty: Medium ONLINE DIRECT Online Purchases Difficulty: Easy OFFLINE INDIRECT Store Locator Usage, Product Detail Views, … Difficulty: Hard OFFLINE DIRECT Leads Difficulty: Medium
  15. 15. OFFLINE SALES ONLINE OFFLINE OWNED EARNED BOUGHT ?
  16. 16. INDIRECT VALUE POINTS • PROPENSITY TO BUY (PTB) * • = [Interest(s) – Interest(c)] x [Real(c) / Interest (c)] • Example: • Survey: 10% • Control: 4% • Real: 2% • [10 - 4] x [2 / 4] => PtB = 3% * Source: Steve Jackson – Cult of Analytics
  17. 17. INDIRECT VALUE POINTS • POTENTIAL VALUE • = [PtB x #Visitors] x [Average Profit] x [Market Share] • Example: • PtB: 3% • Visitors: 100.000 • Average Profit: € 1.000 • Market Share: 10% • ((3% x 100.000) x (1.000) x (10%) = € 300.000 * Source: Steve Jackson – Cult of Analytis
  18. 18. OFFLINE SALES ONLINE OFFLINE OWNED EARNED BOUGHT
  19. 19. * Source: ZAAZ – Actionable Analytis
  20. 20. NORMALIZE AGAINST COMPARIBLES * Lead Value = € 8.000 * * * * *
  21. 21. MONETIZATION HELPS YOU UNDERSTAND THE SALES INFLUENCE OF THE DIGITAL ACTIONS YOUR CUSTOMERS PERFORM
  22. 22. MONETIZATION MODEL • Monetization is: a modelling methodology for estimating the financial impact of selected digital actions • With the objective to: prioritise marketing initiatives based on their financial value (€) and ROI * Source: ZAAZ – Actionable Analytis
  23. 23. RETURN ON INVESTOMENT (revenue, cost-savings, risk of not doing, ...) EXECUTE CONSIDER COMPLEXITY OF IMPLEMENTATION (time, effort, risk, complexity, ...) CONSIDER (decide, simplify or split) AVOID PRIORITIZATION
  24. 24. ROI IN CONTEXT OF YOUR INITIATIVES Initiative Project Score Weighted Score Contribution Margin ROI Business Priority Landing Page Development 1 11,5 5 5,8 Product Detail Page Update 2 8,3 3 4,3 Video Media Enhancement 4 6,6 7 6,0 Secure User Area Update 6 5,1 9 6,9 Weight 30% 30% 40%
  25. 25. MONETIZATION MODEL OUTPUTS Dynamic Prioritization Key digital reporting scorecard Monetisation Scorecard ROI Tools Web Analytics Integration Database Integration Monetisation Dataset
  26. 26. THE 5 STAGES OF MONETIZATION No Guess • There is no knowledge on how to estimate a € value for an action Educated Guess • Guess the value of an action Transaction % • Evaluate only transactional actions Sales Influence % • Evaluate all purchase funnel actions based on their sales impact Sales Influence % on segment/source basis • Estimate the financial value of an action based on a customer segment or traffic source
  27. 27. MONETIZATION BENEFITS 1. MEASURE TOTAL VALUE OF THE PURCHASES FUNNEL 2. UNDERSTAND THE RELATIVITY IN VALUE OF THE DIGITAL ACTIONS 3. SEE ROI IN CONTEXT OF YOUR INITIATIVES 4. DYNAMICALLY PRIORITIZE YOUR STRATEGIES AND TACTICS 5. ESTABLISH A BUSINESS METRICS FOR ALL STAKEHOLDERS
  28. 28. KEY TAKEAWAYS
  29. 29. MONETIZATION IS AN ONGOING PROCESS Define the Business Goals Quantitative and Qualitative Research Build/Update Model & gain insights Correlate with sales and marketing activities Revise Assumptions and Optimise model Process * Source: ZAAZ – Actionable Analytis
  30. 30. BECOME A DATA DRIVEN ORGANIZATION 1. ANALYZE DATA BASED ON OVERALL BUSINESS GOALS 2. MONETIZE ALL KEY SITE BEHAVIOURS 3. FOCUS ON OPPORTUNITIES AND RECOMMENDATIONS – NOT JUST REPORTING 1. PRIORITIZE BASED ON GREATEST IMPACT TO THE BUSINESS 2. ONGOING OPTIMIZATION PROCESS 3. MAKE SOMEONE ACCOUNTABLE
  31. 31. CONTACT: multiminds SIEGERT DIERICKX CO-FOUNDER & DIGITAL ANALYTICS LEAD SIEGERT.DIERICKX@MULTIMINDS.EU 0032 491 33 11 11 WWW.MULTIMINDS.EU manage  measure  monet ize

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