Digital Marketing in 2015
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A primer for Progress Partners. Hosted in February, 2015.
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Digital Marketing in 2015
- 1. Digital Marketing in 2015 What You Need to Know Hosted by: Progress Partner Marketing Presenter: Todd Van Hoosear, VP, Public Relations & Stakeholder Engagement at HB Agency #dmprgs
- 2. © 2013 Progress Software Corporation. All rights reserved.2 Housekeeping: attendee participation & submitting questions Open and hide your control panel Join audio: • Choose “Mic & Speakers” to use VoIP • Choose “Telephone” and dial using the information provided Questions: • Submit questions and comments via the Questions panel Note: Today’s presentation is being recorded and will be provided within 48 hours. Your Participation
- 3. Digital Marketing in 2015 What You Need to Know Hosted by: Progress Partner Marketing Presenter: Todd Van Hoosear, VP, Public Relations & Stakeholder Engagement at HB Agency #dmprgs
- 4. Digital Marketing in 2015 Todd Van Hoosear, VP, Public Relations & Stakeholder Engagement at HB Agency #dmprgs Host Chuck Sicard: csicard@progress.com
- 5. © 2013 Progress Software Corporation. All rights reserved.5 Your Program Leader • You’ll have questions, ideas and concerns • We’ll have a Q&A at the end of this call, use the Questions panel • Or you can tweet your questions to me @vanhoosear using the #dmprgs hashtag •Or you can email me privately at vanhoosear@hbagency.com
- 6. © 2013 Progress Software Corporation. All rights reserved.6 Agenda & Outcomes: What You’ll Get Out of This Program Today, you’ll learn: What “digital marketing” is, how it has evolved, and where it is heading Why everyone is talking about the “marketing hub” and how to drive and engage leads through communities How digital marketing aligns paid, earned and owned media to deliver a focus on measurability and a single view of the customer The key components of a digital marketing program: content, social and search marketing, lead generation, automation technology and related techniques The tools and techniques that deliver the greatest return on your investment, from marketing automation and email marketing platforms, to social tools, to measurement practices
- 7. © 2013 Progress Software Corporation. All rights reserved.7 Defining “Digital Marketing” #dmprgs
- 8. © 2013 Progress Software Corporation. All rights reserved.8 Digital Marketing: Then History of Digital Marketing 1744: Ben Franklin launches first mail-order guarantee 1903: First combination of telephone directories and direct mail 1971: First email 1978: First email spam (from DEC) 1986: ACT! Contact management and database marketing software launched 1994: First banner ad (in HotWired, precursor to WIRED), first search engine 1997: First social network: SixDegrees.com Digital Marketing Over the Decades 1970s: Telesales 1980s: Contact Management 1990s: Sales Force Automation 2000s: Customer Relationship Management 2010s: Marketing Automation
- 9. © 2013 Progress Software Corporation. All rights reserved.9 Digital Marketing: Then vs Now THEN: Analog-centric Digital marketing was a subset of marketing Print, outdoor & broadcast accounted for vast majority of budget, strategic emphasis Online was an add-on NOW: Digital-first Digital marketing IS marketing Digital spend catching up with analog
- 10. © 2013 Progress Software Corporation. All rights reserved.10 What is Digital Marketing Today? “In simplistic terms, digital marketing is the promotion of products or brands via one or more forms of electronic media. Digital marketing differs from traditional marketing in that it involves the use of channels and methods that enable an organization to analyze marketing campaigns and understand what is working and what isn’t – typically in real time.” – SAS Institute “In its short history, digital has evolved rapidly as a push-pull marketing channel, with marketers and consumers alike embracing a wide range of touch points such as social media to engage with one another. Within the past few years, digital has shed its reputation as the nascent weak sister to offline marketing.” – GigaOM
- 11. © 2013 Progress Software Corporation. All rights reserved.11 Channel Madness
- 12. © 2013 Progress Software Corporation. All rights reserved.12 Push v Pull
- 13. © 2013 Progress Software Corporation. All rights reserved.13 Which Programs Are Getting the Biggest Budgets (2014 Data)
- 14. © 2013 Progress Software Corporation. All rights reserved.14 Where Digital Marketing is Heading
- 15. Questions: 1. Are you spending more on digital marketing now? 2. Do you know what’s working and what’s not?
- 16. © 2013 Progress Software Corporation. All rights reserved.16 Marketing Around the “Hub” #dmprgs
- 17. © 2013 Progress Software Corporation. All rights reserved.17 The Evolution of Marketing Technology: 1970-Tomorrow Take your customer database and digitize it: telesales Then port it to the personal computer: contact management software Then add collaboration, lead scoring and reporting: sales force automation Then port it to the web and add lifecycle management: customer relationship management Then add SEO and some automation scripts: marketing automation Then add omnichannel support and mix in some consumer empowerment: digital marketing hub http://www.crmswitch.com/crm-industry/crm-industry-history/
- 18. © 2013 Progress Software Corporation. All rights reserved.18
- 19. © 2013 Progress Software Corporation. All rights reserved.19 What is a Marketing Hub? “A digital marketing hub provides marketers and applications with standardized access to audience profile data, content, workflow elements, messaging and common analytic functions for orchestrating and optimizing multichannel campaigns, conversations, experiences, and data collection across online and offline channels, both manually and programmatically. “It typically includes a bundle of native marketing applications and capabilities, but it is extensible through published services with which certified partners can integrate.
- 20. © 2013 Progress Software Corporation. All rights reserved.20 The Gartner Marketing Hub Magic Quadrant (December 2014)
- 21. © 2013 Progress Software Corporation. All rights reserved.21 Gartner’s Four Crucial Aspects of Digital Marketing: The Four Es 1. Have a single view of the customer — Know who you’re interacting with, no matter which channel or identity they’re using. 2. Use the same content engine — Get everyone involved – from content ideation, through to creation, curation and engagement – using the same platform. 3. Address all channels — Most of your customers are using multiple channels to interact with you. Have a plan for each, even if you’re focusing on just a few. 4. Don’t stovepipe your measurement — Have a consistent, overarching set of program objectives that transcend the platform. Don’t get trapped into platform- specific measurement. Gartner, December, 2014 Engagement Execution Extensibility Evaluation
- 22. © 2013 Progress Software Corporation. All rights reserved.22 Visualizing the Digital Marketing Hub CMS Email Marketing System Facebook Twitter Other Social Channels Web / Mobile / Tablet F2F Hootsuite Tweetdeck Google Analytics Link Shorteners
- 23. © 2013 Progress Software Corporation. All rights reserved.23 Visualizing the Digital Marketing Hub Knowledge Interest Intent Action Awareness Your Marketing Hub Your Sales & Marketing Process Your Channels
- 24. © 2013 Progress Software Corporation. All rights reserved.24 Transitioning to a Digital Marketing Hub, or, Don’t Panic!
- 25. Questions: 1. What are your most important channels? 2. What’s at the center of your current digital marketing hub?
- 26. © 2013 Progress Software Corporation. All rights reserved.26 Paid, Earned and Owned #dmprgs
- 27. © 2013 Progress Software Corporation. All rights reserved.27 There is a Convergence Happening in Marketing Image courtesy IDG
- 28. © 2013 Progress Software Corporation. All rights reserved.28 The Four Cs 1. Content creation 2. Community building 3. Conversation engagement 4. Commerce, or Conversion (changing behavior)
- 29. © 2013 Progress Software Corporation. All rights reserved.29 POE (vs PESO) Which makes more sense?
- 30. © 2013 Progress Software Corporation. All rights reserved.30 Felix Salmon Defines and Clarifies Paid, Earned and Owned http://blogs.reuters.com/felix-salmon/2013/04/14/the-native-matrix/
- 31. Question: 1. Do you have a “balanced portfolio” between paid, earned and owned media?
- 32. © 2013 Progress Software Corporation. All rights reserved.32 The Keys to Digital Marketing #dmprgs
- 33. © 2013 Progress Software Corporation. All rights reserved.33 The 8 Keys to Digital Marketing Success 1. Content Creation, Curation & Management 2. Social Media Monitoring & Engagement 3. Advertising 4. Search Marketing 5. Lead Generation Mentality 6. Reporting, Analytics & Measurement 7. Automation Technology 8. Targeting & Testing
- 34. Question: 1. What are your strengths and weaknesses among these eight keys?
- 35. © 2013 Progress Software Corporation. All rights reserved.35 Tools & Techniques for Great ROI #dmprgs
- 36. © 2013 Progress Software Corporation. All rights reserved.36 The Essential and Better Tools for Measuring Effectiveness ESSENTIAL Web Analytics (e.g., Google Analytics) (Behavior -> Site Content -> All Pages) BETTER Campaign Codes + Link Shortener (e.g., bitly.com) + Web Analytics (e.g., Google Analytics)
- 37. © 2013 Progress Software Corporation. All rights reserved.37 The Best Tools for Measuring Effectiveness: A Digital Marketing Hub http://www.thehubcomms.com/who-is-winning-the-marketing-cloud-wars/article/336854/
- 38. © 2013 Progress Software Corporation. All rights reserved.38 So, You Want to Calculate ROI? ROI is just 1 metric It may not even be the most important metric!
- 39. © 2013 Progress Software Corporation. All rights reserved.39 What Does ROI Measure?
- 40. © 2013 Progress Software Corporation. All rights reserved.40 The Tangibles of ROI (Gain from Investment – Cost of Investment) Cost of Investment ROI (%) = Gain: Total revenue generated that can be attributed to the program / campaign (If the program or campaign is not aimed at revenue generation, you can substitute “cost savings”) Cost: Total cost of program / campaign, including: Staff time, calculated by FTE %age of salary or hourly rates Hard costs
- 41. © 2013 Progress Software Corporation. All rights reserved.41 Valuation is Just One of Five Key Metric Categories 1. Inputs 2. Outputs 3. Outtakes 4. Outcomes 5. Valuation http://bit.ly/1qMJEep * Hat tip (or h/t as we say in social media) to “Measurement Queen” Katie Paine
- 42. © 2013 Progress Software Corporation. All rights reserved.42 What Drives You? AWARENESS Ideal for • Feeding the top of the sales and marketing funnel • Influencing the influencers of big ticket or long lead item purchases • Driving sales of impulse, small ticket or in-store retail items Top campaign/program priorities • Exposure • Eyeballs • Quick purchases Pair with • Strong analytics LEAD GENERATION Ideal for Going deeper into the sales and marketing funnel Reaching the buyer of big ticket or long lead items directly Online sales Top campaign/program priorities Actions Wallets Pair with A solid email marketing program Marketing automation
- 43. Questions: 1. How do you measure marketing success now? 2. How do you plan on changing that?
- 44. © 2013 Progress Software Corporation. All rights reserved.44 Thank You! Thank you once again for attending today’s Partner webinar! Have questions on how to get started with your digital marketing hub? Contact your Progress Regional or Partner Marketing Manager or your dedicated Partner Executive. Drop me a line as well if you want to explore particular concepts in more depth. This is the latest in a series of webinars that started with a 5-part bootcamp series exploring social media, which is available at: • https://progresslink.progress.com/PartnerLink/promotion/Pages/Social-Media-Boot- Camp.aspx Last year, we ran a two-part webinar focusing on measurement, which is available at: • https://progresslink.progress.com/PartnerLink/promotion/Pages/Social-Media-Virtual- Workshop.aspx
- 45. YOUR Questions Todd Van Hoosear: vanhoosear@hbagency.com @vanhoosear
Notes de l'éditeur
- Thank you for joining today’s webinar: Digital Marketing in 2015: What You Need to Know. This webinar is hosted by Progress Partner Marketing.
- Give Attendees a closer look at the control panel and how they can participate. Join Audio: 2 ways to do so, 1) to use VoIP, click on “Mic & Speakers”, or 2) to use your telephone, click on “telephone” and dial-in using the numbers and information provided 2) All lines are muted for today’s webinar. We do plan to have a live Q&A session at the end of the presentations. However if you have a question at any time during this webinar, simply submit your questions via the “Question” section of the webinar interface located to the right of your screen – we will collect all questions through this “Question Window”. Final Note: we are recording today’s webinar and will posted to PartnerLink
- Thank you for joining today’s webinar: Digital Marketing in 2015: What You Need to Know. This webinar is hosted by Progress Partner Marketing.
- Todd Van Hoosear is vice president of public relations and stakeholder engagement at HB Agency, an integrated marketing and communications agency based in the Boston area. Todd’s clients have included some of the biggest brands in telecommunications, engineering, publishing and technology. Todd helps his clients find, craft messages for, engage and help create lasting relationships with influencers and community members. In addition to his work with HB, Todd teaches marketing communications at Boston University and is a fellow of the Society for New Communications Research. Todd, take it away!
- Thanks, Chuck! Hi everyone, and welcome to our webinar on digital marketing. I’m really excited to talk about this because the marketing world, especially the marketing technology world, has been evolving so quickly over the past year or two that it’s been really hard to keep up. I hope this session gives you a leg up and a slight advantage. Before I jump into the content myself, I want to reiterate some ways in which you can share your questions, ideas and concerns about anything I talk about in this sessions. If I’m doing my job right, I’ll be provoking good questions from you. We’ve set aside time at the end of this webinar for questions and answers. As Chuck mentioned, if you’re listening live, you can use the Q&A feature to get your questions in. Ask your question at any time during the webinar, and we’ll respond at the very end during the Q&A section. If you’re watching this webinar through our PartnerLink portal after the fact, you can still interact with me. You can tweet your questions to me on Twitter using my Twitter handle @vanhoosear and the hashtag #smprgs so I know where the question came from. If you don’t want to share your thoughts with the group or the Twittersphere at large, you can also email me at vanhoosear@hbagency.com. Thanks!
- We’ll start today by defining digital marketing and exploring its history, present incarnation and future. Then we’ll describe one popular approach to digital marketing, dubbed the “marketing hub,” and compare it with other approaches. Then we’ll talk about POE. Not as in Edgar Allen, but as in Paid, Owned and Earned. Then we’ll explore all of the various ingredients of successful digital marketing programs. Finally, we’ll close with a discussion about tools and techniques that work best for digital marketing.
- Let’s start by looking at what’s new in social media, and the more important question: why you should care. And the easiest way to answer that question is to share some statistics. Our first stat is from ExactTarget: While just 34% of marketers surveyed say they are seeing ROI from social media marketing, 52% believe their social media efforts will eventually produce ROI. Let’s look at a few more stats…
- Marketing has been going digital for quite a while now, but the first real transition to digital happened in the 1970s with the creation of email and the first digitization of traditional mailing lists and phone directories. Since those early days of digital telesales, so much has happened. In the 1980s, with the advent of the PC, we saw the first real contact management systems appear. But it sat on your computer. You had to manually enter updates – it had no way to connect to your calendar. Although the Internet existed, there was no web to connect to. And none of your contacts had email addresses unless you happened to work at a university or research institute. The first REAL digital marketing innovation didn’t happen until 1994, when the precursor to WIRED magazine created what is widely thought to be the first real banner ad, and the first search engines, WebCrawler and Lycos, took off (but the first paid search result didn’t appear until 1996, on Yahoo!’s search engine). In 1997, the first social network was built: SixDegrees.com. Great name, but who remembers being on that social network? Sales force automation technology was also improving in the 1990s. By the end of the decade – and what a great decade it was – all the ingredients were in place for the digital marketing revolution. Since the turn of the millennium, things have accelerated as customer relationship management and marketing automation tools have taken off. But the real change in how we’ve looked at digital marketing has only happened in the last couple years…
- Just a couple years ago, digital marketing was a subset of marketing, which was otherwise still analog-centric… [read slide]
- [Read] So let’s talk about two key components that I highlighted from these definitions: channels and push vs pull.
- This diagram, from St. Joseph’s Communication, shows how our thinking about channels have evolved. What is a channel? Simply put, it’s a way or means of reaching a consumer or customer.
- Let’s start by looking at what’s new in social media, and the more important question: why you should care. And the easiest way to answer that question is to share some statistics. Our first stat is from ExactTarget: While just 34% of marketers surveyed say they are seeing ROI from social media marketing, 52% believe their social media efforts will eventually produce ROI. Let’s look at a few more stats…
- Since I’m from Boston, the “Hub of the Universe,” and maybe because I’m a Hubspot fan, I naturally gravitated toward the idea of a marketing hub. Oh, by the way, for those of you familiar with the phrase “Hub of the Universe,” it’s actually the victim of typical marketing hyperbole. The phrase was originally “the Hub of the Solar System” as coined by Oliver Wendall Holmes, then got upgraded to “Universe” sometime thereafter, no doubt by the tourism and visitors bureau… So what is a marketing hub, what sits in the hub and what are the spokes? Well, it turns out we have a good place to go for this question, as analyst firm Gartner has seen fit to create the Marketing Hub Magic Quadrant in recognition of this need…
- So what’s a Marketing Hub, according to Gartner? Here’s their definition. According to Gartner, the need for a digital marketing hub is motivated by three fundamental developments: 1. Growing consumer empowerment: Social and mobile technologies have given consumers power to research and interact with brands and take control of the conversation from brands and mainstream media. 2. Growing channel proliferation: Along with empowerment, consumers now have an abundance of devices and channels with which to interact with brands and purchase products and services, dramatically increasing the complexity of meeting customer expectations for a personal dialogue. 3. More responsibility being put on Marketing: As these challenges have grown, organizations have turned to marketing to take charge of the task of creating a single view of customers and enabling the organization to address them as individuals and deliver the right offer to the right person at the right time and place, as corporate strategy focuses increasingly on customer experience as the key to differentiation.
- And who’s in the first Gartner Magic Quadrant, created in December of 2014? It should be no surprise to see Adobe, Oracle and Salesforce in the Leader Quadrant. They’re being challenged by IBM and Marketo, with many others nipping at their heels.
- 1. First, you have to create a master audience profile (a single view of the customer) — A consistent view of customers (including anonymous ones) across marketing programs and processes is the baseline for effective communication. Good Digital Marketing Hubs work with both 1st- and 3rd-party data to paint this picture. 2. Then, you must enable a consistent workflow and collaboration process (you must use the same content engine) — It’s critical to fuel marketing programs through ideation, planning and execution; as well as the creation, curation and cultivation of content, internally and with partners. Uniform collaboration and workflow break down silos. 3. Then, you must be able to orchestrate your efforts across all your channels — While specialized channel-specific execution is sometimes prudent, consumers are engaging on their own terms, freely switching among channels and devices. To support this, multichannel marketing programs need to account for the full context of each interaction in real time. 4. Finally, you must unify your measurement and optimize your program — Unless marketing programs are measured by a common set of rules, marketers will squander resources and lose out to more-efficient competitors. Companies must trace a thread between investments and outcomes and to enable marketers to optimize investments to the highest yield. Want an easier way to think of these? [CLICK] Think of them in terms of the four Es of digital marketing: engagement, execution, extensibility and evaluation.
- How does it all work together, you ask? You start with your hub. [CLICK] Your central platform. It is, at its heart, your content management system [CLICK] (your CMS – like WordPress, Drupal or Joomla). The goal of your content creation and engagement efforts is to drive people to this hub, to a central location where you have the most control and the best ability to serve them. But most of your engagement will happen outside this sphere of influence. It will happen on channels like [CLICK] Facebook, [CLICK] Twitter and [CLICK] other social channels. Oh yeah, and each of those may come through the [CLICK] web, or through a mobile app or a tablet. And you may rely [CLICK] on your email marketing system to help reinforce your messaging and calls to action. And, [CLICK], God forbid, let’s not forget the dreaded in-person experience (a retail store or a trade show booth visit). So you need ways to connect with and manage each of these channels [CLICK]. Social media engagement tools like Hootsuite and Tweetdeck were created to do this, but while they support basic workflow management and even some measurement, they’re not closely tied to the content engine – to your hub. Nevertheless, they’re a step in the right direction. And you need ways to measure. All the social channels offer measurement, but what and how they measure is completely platform dependent. [CLICK] Tools like Google Analytics and link shorteners can provide more consistency, and can even get a little closer to the heart of the matter, but still don’t paint a unified picture. And how do you integrate the in-person experience? To do this all right, you need a single platform, a marketing hub that includes all of these… [CLICK]
- A true digital marketing hub integrates all of these things, [CLICK] providing direct access and control over all of your channels, and [CLICK] integrating your sales and marketing process as well – bringing in your CRM and sales force automation tools, so you have a customized experience for both your customers and your sales and marketing teams. Add a healthy dose of marketing automation and you’re good to go!
- Now if I made the CFO in you shudder by dropping names like Oracle and IBM, don’t panic. You can start your migration toward a digital marketing hub without an integrated software platform IF you start thinking holistically about your marketing engagement, execution, extensibility and evaluation. As you get ready to transition to a digital marketing hub, put your website, or your primary social media channel, at the center of that hub. Make sure Google Analytics is working well. Have your social media content and other campaigns direct traffic to your website or social hub, and turn on platform-specific measurement (or another measurement tool) and create your own funnel with the social channels at the top, website landing pages toward the bottom, and a website conversion form at the very bottom of the funnel. BOOM: instant marketing hub. Well, maybe not instant. It still will take time to set up right. But it’s a start.
- Let’s start by looking at what’s new in social media, and the more important question: why you should care. And the easiest way to answer that question is to share some statistics. Our first stat is from ExactTarget: While just 34% of marketers surveyed say they are seeing ROI from social media marketing, 52% believe their social media efforts will eventually produce ROI. Let’s look at a few more stats…
- There is a convergence happening in marketing, both in terms of media and strategy. This illustration from IDG describes it perfectly. At the top, we have the Four Cs of social media, and at the bottom we have the three forms of media. These are all coming crashing together.
- The digital marketing hub ultimately must include each of the four Cs and all three forms of media: paid, earned and owned. Journalist Felix Salmon took a stab at categorizing some of the new and old concepts out there, like brand journalism, sponsored content, native advertising, content marketing and the like. Here’s what he came up with. With new paid content distribution models like Outbrain and Taboola, and companies like Brand.com rethinking how companies engage with journalists, your ultimate digital marketing hub needs to present as many of these new distribution options as possible, and find a way to measure consistently across all of them – no easy feat to be sure!
- Let’s start by looking at what’s new in social media, and the more important question: why you should care. And the easiest way to answer that question is to share some statistics. Our first stat is from ExactTarget: While just 34% of marketers surveyed say they are seeing ROI from social media marketing, 52% believe their social media efforts will eventually produce ROI. Let’s look at a few more stats…
- 1. Create great content that doesn’t just sell, but that tells a story. And it’s not just about great storytelling, but a great narrative: an ongoing story that unfolds in real time at the pace that your consumer or prospect wants. 2. Social media engagement Search marketing Lead generation mentality Measurement Automation technology
- Let’s start by looking at what’s new in social media, and the more important question: why you should care. And the easiest way to answer that question is to share some statistics. Our first stat is from ExactTarget: While just 34% of marketers surveyed say they are seeing ROI from social media marketing, 52% believe their social media efforts will eventually produce ROI. Let’s look at a few more stats…
- So how do you measure movement down this funnel? Well, I’ll give a great example of how one company does this. I was first introduced to HubSpot when its CEO, Brian Halligan, spoke on a panel I organized about the work that he makes his CMO Mike Volpe do each month to report on sales. Using HubSpot’s own technology – HubSpot, by the way, is the company that first popularized the concept of “inbound marketing,” to contrast its approach to content marketing with that of more traditional “outbound marketing” or “interruption marketing” efforts ,and thus to highlight the importance of SEO in the content game – Brian asks Mike to report (visually) on which marketing programs or campaigns are driving traffic the furthest down the marketing funnel. Because they’re using some sophisticated techniques to track these campaigns online (a few of which I’ll reveal to you), this becomes relatively easy for Mike to do. But it was a revelation to me, and to many other marketers. The most essential tool to track the effectiveness of your efforts is a web analytics tool, the most popular of which is Google Analytics. As a very simple example, I can track which pages on my web site are attracting the most traffic. But I can do a lot more. Google Analytics is critical to any marketing measurement you may want to do, but it’s only as effective as how you set it up and how you feed it. When you set up Google Analytics, don’t ignore the “Goals” section, which is the closest that Google Analytics can come to the magical reports that HubSpot can generate for Mike and Brian. And when you’re using Google Analytics, take advantage of its support for “campaign codes.” Campaign codes allow you to add extra information at the end of a website URL that tell Google which campaign, which medium and which traffic source generated the most attention to your site. If you Google “URL builder” you’ll find the online tool that Google created to help you create these codes. Let’s say, for example, that you want to create a campaign that drives traffic to a particular page on your website that is offering a discount on a product you sell. That page has an offer, a “get more information” button and a “buy now” button on it. We’ll name the campaign “Summer 2014 Sale.” Medium has four default labels: referral, organic, cpc for paid search, and (none) for direct traffic. Think of these as the big buckets of traffic, the highest level marketing channels. Create new channels at the same high level and don’t get too specific. For example: email social banner (or display) print direct-mail Source has three types of labels by default: website names for referrals, search engines, and (direct). Think of these as your target audiences – the users of specific websites or search engines, or people who already knew you and came directly. Describe who’s viewing your campaign content with source labels like: newsletter-subscribers facebook partner.com = the website where you put your banner ad industry-today = the name of a publication where you advertise postcard-list = the name of the mailing list (Hat tip to Lunametrics for these descriptions: http://www.lunametrics.com/blog/2011/09/08/4-steps-campaign-data-google-analytics/ ) Once you’ve defined these codes, go to the URL builder and feed the original URL and each possible combination of codes to get a series of unique URLs, all pointing to the same page, but defining different sources and mediums. As you create and promote your content online, be sure to use these URLs appropriately – using the facebook code only on Facebook, for example. Now, when you go into Google Analytics, you’ll see much richer reports, and it will tell you, on a campaign-by-campaign basis, which channels and campaigns are most effective! Now these URLs can be awfully long and cumbersome, so I take one more step before I release them to the public or my sales and marketing teams: I shrink them using a link shortener like bit.ly. Bitly benefits me two ways: it makes for shorter, more tweetworthy links, but it also adds another layer of measurement if I create an account on the platform and always log in when I’m shortening links. Bitly provides its own reporting on clicks, so in case Google Analytics is mis-configured or I want a sanity check, it’s a great backup for me.
- ROI is a calculation of value. But value doesn’t just come in a pure monetary form. We’ll come back to a discussion about value in a few minutes, but first, let’s explore ROI a little deeper.
- ROI essentially measures two things: money and time. More specifically, you can use ROI calculations to determine how long it will take to recoup the cost of a specific investment.
- The tangibles of ROI can be expressed in a very simple equation. ROI, when expressed as a percentage, is the revenue that is generated from your investment, minus the cost of that investment, divided by the cost of that investment. Gains are the total revenue generated that can be attributed to the program / campaign. If the program or campaign is not aimed at revenue generation, you can substitute “cost savings” for gains. Costs are the total cost of program / campaign, including both hard costs AND staff time, typically calculated by FTE %age of salary or hourly rates. Note the phrase “can be attributed.” Attribution is the hard part…
- ROI is a form of valuation, and valuation is in fact one of five different categories for measuring social media marketing activities. Katie Paine, whom I absolutely adore, talks about the Three Os of measurement, to which I add two: inputs and valuation. I’m a PR guy, so I’ll talk in terms of PR programs for a moment. The inputs to any integrated marketing program are a critical factor in its success. Inputs measure the contributions (in terms of time and materials) to the integrated PR program. These inputs come from the client marketing team, other supporting client-side teams and the agency management team. I’ve spent most of my career on the agency side, and know what it’s like to have my feet held to the fire when it comes to producing results. Agency teams, however, can only be so successful without the active participation of our clients to the PR process, so we have learned to also hold our clients partly responsible for their contributions to the program. These contributions -- the inputs to the PR program -- don’t come just from the client PR contact, however. On the client side, the product development group, HR department, client services group, the management team and many other departments play a role in providing the necessary fodder for a successful PR program. Inside the agency, the management team is responsible for allocating resources -- team members and time allocations -- necessary for the success of the program. Output captures the physical product of our work. It measures the direct and immediate results of our PR program. Traditionally, we have measured those results that are visible to the general public, such as the amount of coverage secured, but this can be supplemented with less publicly visible metrics, such as number of pitches sent, the number of briefings conducted, etc. Many agencies will differentiate between internal output metrics that aren’t shared with the client and shared metrics that they will also report to the client. While this category of metrics is the traditional favorite of PR professionals, it is often eclipsed by our last category, outcomes, because of its results-driven approach. Nevertheless, no PR program -- integrated or traditional -- should skip over outputs; they provide valuable insight into the productivity of a team. There is much to measure beyond inputs and outputs. Thanks to the insights we can glean from social networks, we can also peek into the minds of the communities we’re trying to influence. Outtakes measure how effective our communications efforts are in changing minds. While measuring outputs is the easiest measurement category, measuring outtakes is by far the most difficult, as we have to rely on external signals that might indicate a change in attitude toward a particular company, product or topic. These signals come in many forms, but in general we rely on studying what people say, who they interact with and how they behave around brands. Companies focused on raising brand awareness tend to rely on metrics in this category. Typical metrics include share of voice, sentiment and applause rate (likes, etc.). Analyzing content requires an investment in editorial oversight to either manually sort results or oversee (and override as necessary) any automated functions, such as sentiment analysis, which is notoriously difficult to accomplish. It’s one thing to change minds, but another thing entirely to change behaviors. Outcomes measure behavior changes. More specifically, they measure “conversions.” Conversions are typically thought of as transactions of some form or another. They are most often thought of in terms of transactions. But the transaction doesn’t have to be monetary in nature. It can be any event that drives a prospect one step closer to the ultimate conversion: the financial transaction that results from a sale. Outcome measurement is very popular in integrated PR programs that include a demand generation component -- programs in which the PR team is (at least partially) responsible for supporting direct sales. Anything that could indicate movement down the sales funnel could be a potential conversion, from email opens and click-throughs to requests for information to the final sale and participation in evangelism or affiliate programs. Finally, there’s valuation, of which ROI is one of the bigger metrics. Let’s explore each of these in more detail, highlighting some of the key metrics in each…
- Essentially, marketers are motivated by one of two primary factors. Either they’re trying to raise awareness and feed the top of the sales and marketing funnel, or they’re trying to drive leads a little deeper into the funnel. An awareness strategy is ideal for marketers who want to, for example, influence the influencers of big ticket or long lead item purchases, or perhaps to drive the sales of impulse, small ticket or in-store retail items. The top campaign or program priorities for awareness marketers are: exposure, “eyeballs” and quick purchases. Paired with strong analytics, this can be very effective. A lead generation strategy is ideal for marketers who want to reach the buyer of big ticket or long lead items directly, or drive online sales. The top campaign or program priorities for this strategy are: actions and wallets. Paired with a solid email marketing program and some marketing automation technology, this approach can be very effective as well.
- Thank you once again for attending today’s Partner webinar! If you would like to get started on any of the activities outlined within today’s webinar or have any questions on how to get started please do not hesitate to contact your Progress Regional or Partner Marketing Manager or your dedicated Partner Executive. They are more than happy to help support your marketing execution goals. You can also reach out directly to me if you’d like to explore a particular concept a little more in-depth. My contact information follows.
- Thank you. We’ll open the floor up to questions now!