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Is My Digital Marketing Strategy Still Relevant in 2016?
- 1. Is my digital marketing strategy still relevant in 2016? © 2016 Capstrat, LLC All rights reserved. #CapstratDigital
- 2. Introductions Jon Barlow SVP, Group Digital Director jbarlow@capstrat.com LinkedIn: jbarlow Shane Johnston EVP, Client Development sjohnston@capstrat.com LinkedIn: shanetjohnston
- 3. Technology shift and disruption • Drives significant change in digital communications • Affects your audience and how they consume your message • Threatens your effectiveness as a marketer • Results need to be measurable and objective
- 5. Inundated with brand messages
- 6. Fragmentation of media channels
- 7. The US adult email audience will reach 203.8 million by 2017. Source: eMarketer
- 8. Most popular online activities
- 9. 72% of all internet users are active on social media. Source: Pew Research and KPCB
- 10. But social media extends traditional media But, social media extends traditional media HP research found that 72% of sources retweeted most were from traditional media Top 9 Retweeted Users
- 11. 80% of all Internet traffic in 2019 will be video. Source: Cisco 2015
- 12. It would take an individual over 5 million years to watch that amount of video.
- 13. 62% of Millennials feel that online content drives brand loyalty. Source: NewsCred
- 14. 73% of people surveyed wouldn’t care if the brands they used disappeared from their lives. Source: Co.Exist
- 15. Customer service interactions are nearly four times more likely to lead to brand disloyalty than loyalty. Source: CEB Research
- 16. Disruption Your marketing strategy
- 17. CMO.com
- 19. Customer experience and journey 1. The consumer considers an initial set of brands, based on brand perceptions and exposure to recent touch point. 2. Consumers add or subtract brands as they evaluate what they want. 3. Ultimately, the consumer selects a brand at the moment of purchase. 4. After purchasing a product or service, the consumer builds expectations based on experience to inform the next decision journey.
- 23. Technology can’t save a bad marketing idea.
- 25. RESEARCH AND INSIGHT AUDIENCE PAID OWNED EARNED
- 28. RESEARCH AND INSIGHT AUDIENCE PAID OWNED EARNED CONTENT INBOUND MARKETING OUTBOUND MARKETING DESTINATIONS COMMUNICATIONS MEASUREMENT AND OPTIMIZATION
- 29. DIGITAL MARKETING STRATEGY Your plan for engaging with customers online
- 30. What does a digital strategy contain? • Audience insights and data analysis • Strategy framework • Digital scope of effort • Implementation and measurement • Governance
- 31. Audience insights and data analysis • What is the “state of the state”? • Consumer insights • Data-driven persona development • Customer journey mapping • Competitive audit and analysis • Review of all digital channels and tactics • Review of past business/brand performance • Marketing technology audit and analysis
- 32. Digital strategy framework • What are we trying to accomplish? • What’s the big idea? • How do we align the idea with corporate objectives? • What can we improve from past efforts? • What are the Key Performance Indicators (KPIs) that will denote success? • How will we get there? • What’s the optimal ratio between generating demand (Communications) and personalized customer experience (Destinations) that will achieve our objectives? • How will we measure and optimize our conversion funnel and the content that flows through it?
- 33. Digital scope of effort • The blueprint has been drawn, so now how do we build the house? • Most common digital tactics and channels • Website/Mobile application • Digital advertising and SEM • SEO • Email/CRM • Social • At this point, you should also be focusing on filling the funnel with content • Who, what, how and when
- 34. Implementation and measurement • Did we make an impact? • Measurement framework • Visualize your conversion funnel and look for leaks • Test and optimize
- 35. The total measurement framework Measurement frameworks help visualize strategic initiatives for every marketing objective and how each will be measured to prove success.
- 36. Visualize and optimize your conversion funnel Suspects * Based on B2B industry averages/benchmark developed by NetProspex Prospects Marketing Qualified Lead Sales Accepted Lead Sales Qualified Lead Closed Deals Avg. Size of Sale 2016 Marketing- Generated Revenue Goal $$$$$$ x $$$$ 2% 4% 67% 47% 31% Closed Deals Suspects Prospects Marketing Qualified Lead Sales Accepted Lead Sales Qualified Lead
- 38. Governance • Oversight and management are keys to long-term sustainability and success of the strategy • Key aspects of a digital marketing governance plan include: • Team structure and individual member roles • Established policies and SOPs • Policies and SOPs are about managing risk and budget • Set standards and guidelines (i.e., design, development, content, technology)
- 39. Thank You Jon Barlow jbarlow@capstrat.com @Jon_Barlow Shane Johnston sjohnston@capstrat.com @shanetjohnston
Notes de l'éditeur
- Measurement framework Insist on cascading objectives, strategies & and tactics
- Let’s focus on your audience. What is competing with your message from a customer perspective?
- A person living in a city 30 years ago saw up to 2,000 messages a day. Today, over 8,000. today. Yankelovich Study
- Go where your audience is. is: destination, device. …Provide And provide something of value.
- Email? As much as many hate it … It is still one of the most effective personalized channels.
- Sharing on social media has significant growth in the recent past. Doubled between 2011 and 2013. from 2011 to 2013. In August 2015, more than over 1 billion people used Facebook in a single day.
- The role of “traditional” media sources The HP team collected data from Twitter’s own search API. 72% were Twitter streams run by mainstream media outfits such as CNN, the The New York Times, El Pais and the BBC.
- We are seeing a massive growth in video and photo data, where and every minute up to 300 hours of video are uploaded to YouTube alone.
- According to the study, it would take an individual over 5 million years to watch the amount of video that will cross global IP networks each month in 2019. This percentage does not include video exchanged through peer-to-peer (P2P) file sharing.
- Strong content
- Larger scale, People’s people’s relationships with institutions – mediated by brands – remains broken. How can your brand be different?
- One way is to work on your customer service and retention.
- Traditional concepts of advertising, focusing campaigns on the First and Second Moments of Truth… Procter and & Gamble’s "Moments of Truth" concept, developed in 2005 to define the moments when a potential customer reaches the purchase point through brand interaction. A stimulus (advertising advert or marketing message) is generated, which manifests itself as brand recognition and instills the idea of purchase with the potential customer when they are in a position to buy. This is the First Moment Of Truth. The Second Moment Of Truth occurs when they experience the customer experiences the product after purchase and then use uses that knowledge to inform their buying behaviour next time around. This linear way of thinking was obviously disrupted by the advent of online marketing.
- McKinsey & Company first articulated the concept of the customer journey as we think of it today in a 2009 article titled, "The Consumer Decision Journey.” Bruce Temkin and other Forrester Research analysts past and present should get credit here, too, as Forrester was talking about customer journeys around the same time and has probably published the most research on the topic since. To grossly oversimplify, the idea is that buying a product or service is a process and not a singular event. That process neither begins nor ends with the actual purchase. Instead, multiple engagements often occur between buyer and brand before and after the cash register rings.
- Every digital trailblazer needs a reliable map The digital landscape covers a wide, complex territory. To plan and manage technology effectively, digital marketers need to understand the inherent relationships between diverse operational areas, applications, technologies and vendors. The Gartner Digital Marketing Transit Map Shows the relationships among business functions, application services and solution providers. Use it to create a digital marketing solutions strategy, improve operations and plan initiatives.
- Every digital trailblazer needs a reliable map The digital landscape covers a wide, complex territory. To plan and manage technology effectively, digital marketers need to understand the inherent relationships between diverse operational areas, applications, technologies and vendors. The Gartner Digital Marketing Transit Map Shows the relationships among business functions, application services and solution providers. Use it to create a digital marketing solutions strategy, improve operations and plan initiatives.
- But it can amplify a remarkable one.
- 1. Insights and Analysis: understanding the needs and priorities of the people who are at the core of your digital revolution, including your customers, stakeholders, employees and executives. Analyze internal performance and sales data to understand where the biggest value is. External Digital Analysis Customer Experience Mapping Digital Value Chain Analysis 2. Digital Framework: creating a framework that allows the company to addresses address digital goals and objectives. The Iteration Model Big Idea / Mission / Vision Digital Objectives UVP 3. The Digital Scope: addressing the company’s approach to key areas of Digital and outlining the purpose, objectives and key initiatives and challenges of each channel. Website(s) Online Content Digital Advertising / SEM / SEO CRM Social Mobile ERP 4. Execution & Governance: Prioritizing the plan, taking into account which needs are the most urgent and important as well as current resources, timelines and budgets. Project priorities Project team(s) Accountability and Progress Reporting / KPIs KPI’s
- If you think of your initial strategy as a skeleton, developing your tactics is where you start adding flesh on to those bones. Your strategy tells you generally how you’re going to achieve your objectives, your tactics tells objectives, and your tactics tell you exactly how. The blueprint has been drawn, now drawn. Now, how do we build the house? Most common digital tactics and channels Website(s) Digital Advertising and SEM SEO Email/CRM Social Mobile At this point, you should also be focusing on filling the funnel with content content: What content you will produce and when: plan and schedule When you will publish content: time of day, weekends etc. Distribution of Where you will distribute content: social and mobile platforms How you will tailor content to suit different audiences
- Measurement framework Insist on cascading objectives, strategies & and tactics
- In an effort to visualize and organize all campaign goals and objectives in one snapshot, and to visually track whether or not we’re meeting the predetermined goals, we’ve developed measurement frameworks The key question that these frameworks help us answer is: Has has the campaign succeeded or failed? The frameworks are effective and efficient scorecards that allow the campaign analysts and client team to keep a pulse on the campaign The goals and objectives are determined during a grind session with the key client stakeholders, the account team and the analyst. Once we know what the over-arching overarching goals are for the campaign, we determine what the key metrics will be that will best prove if the campaign is successful – and then we use historical data to determine baseline benchmarks that we will measure against each month The AICPA was the first client to utilize thes analytics framework. The analytics team has been reporting on this framework now for almost three years, and it the framework has evolved to what you see now based on the changes and shifts that have occurred as the website has grown over time. Offers offers the AICPA a high-level monthly snapshot that is easy to consume and digest, and our client can share this one slide with upper management, instead of the of needing the entire 30-slide presentation.
- • So where does CRM fit this approach? Customer Relationship Management is really about Relationship Cultivation and Management. • So CRM happens throughout the entire process. From process – from customer segmentation – to optimization. • And if implemented correctly It correctly, it combines sales and marketing team efforts in a singular strategy to find, cultivate and develop leads. • It enables you to calculate conversion numbers for each stage of your entire funnel. This is an Industry Benchmark for Lead Conversions B2B. • Silverpop has a revenue calculator similar to this that you can customize. Small plug: SilverPop is a Capstrat partner and a fantastic marketing automation platform. Check it out.