The First 10 Metrics – Part I Where Intelligent Marke7ng Begins
HTTP://EMAGINE-GROUP.COM
BRAND FOCUSED, SOCIALLY ACTIVE, DIGITALLY ENABLED
A Story Before We Start
HTTP://EMAGINE-GROUP.COM
BRAND FOCUSED, SOCIALLY ACTIVE, DIGITALLY ENABLED
When I first started teaching marke7ng measurement to execu7ves, I was told quite rudely that I “didn’t understand.”
HTTP://EMAGINE-GROUP.COM
BRAND FOCUSED, SOCIALLY ACTIVE, DIGITALLY ENABLED
“Marke7ng is crea7ve and you can’t measure crea7vity,” I was told.
HTTP://EMAGINE-GROUP.COM
BRAND FOCUSED, SOCIALLY ACTIVE, DIGITALLY ENABLED
So I asked a ques7on of the execu7ves –
HTTP://EMAGINE-GROUP.COM
BRAND FOCUSED, SOCIALLY ACTIVE, DIGITALLY ENABLED
“How many of you outsource the crea7ve component of your marke7ng?”
HTTP://EMAGINE-GROUP.COM
BRAND FOCUSED, SOCIALLY ACTIVE, DIGITALLY ENABLED
72% of the execu7ves outsourced the crea7ve
HTTP://EMAGINE-GROUP.COM
BRAND FOCUSED, SOCIALLY ACTIVE, DIGITALLY ENABLED
What does that tell us?
HTTP://EMAGINE-GROUP.COM
BRAND FOCUSED, SOCIALLY ACTIVE, DIGITALLY ENABLED
Marke7ng organiza7ons are not in the crea7ve content business, but instead manage the process of marke7ng.
HTTP://EMAGINE-GROUP.COM
BRAND FOCUSED, SOCIALLY ACTIVE, DIGITALLY ENABLED
Now, I know that most organiza7ons and marketers struggle to measure their marke7ng ac7vi7es given the hundreds of possible metrics.
HTTP://EMAGINE-GROUP.COM
BRAND FOCUSED, SOCIALLY ACTIVE, DIGITALLY ENABLED
I have consulted for Fortune 100 companies that have scorecards with more than 50 metrics, which took a great deal of 7me to put together and provided no value to the organiza7on. HTTP://EMAGINE-GROUP.COM
BRAND FOCUSED, SOCIALLY ACTIVE, DIGITALLY ENABLED
Why?
HTTP://EMAGINE-GROUP.COM
BRAND FOCUSED, SOCIALLY ACTIVE, DIGITALLY ENABLED
There is too much data and these data do not provide managers with informa7on they need to make decisions.
HTTP://EMAGINE-GROUP.COM
BRAND FOCUSED, SOCIALLY ACTIVE, DIGITALLY ENABLED
You need a simple approach to think through which metrics are important for a specific marke7ng ac7vity
HTTP://EMAGINE-GROUP.COM
BRAND FOCUSED, SOCIALLY ACTIVE, DIGITALLY ENABLED
Linking Marke3ng Ac3vi3es to Metrics
HTTP://EMAGINE-GROUP.COM
BRAND FOCUSED, SOCIALLY ACTIVE, DIGITALLY ENABLED
In the 1960s, the standard marke7ng behavioral impact model was published. It was called the purchasing funnel.
HTTP://EMAGINE-GROUP.COM
BRAND FOCUSED, SOCIALLY ACTIVE, DIGITALLY ENABLED
The idea was that different marke7ng ac7vi7es take the customer through the stages of awareness, evalua7on, trial and loyalty
HTTP://EMAGINE-GROUP.COM
BRAND FOCUSED, SOCIALLY ACTIVE, DIGITALLY ENABLED
In other words, marke7ng ac7vi7es are designed to “funnel” customers from awareness to ul7mately becoming loyal customers.
HTTP://EMAGINE-GROUP.COM
BRAND FOCUSED, SOCIALLY ACTIVE, DIGITALLY ENABLED
HTTP://EMAGINE-GROUP.COM
BRAND FOCUSED, SOCIALLY ACTIVE, DIGITALLY ENABLED
Awareness Marke7ng Ø
Ø Ø
Ø
HTTP://EMAGINE-GROUP.COM
Awareness marke7ng comes in many forms – TV adver7sing, billboards, sports sponsorship, naming rights to stadiums Awareness & branding are in7mately related A brand is a consumer percep7on of a par7cular product or service and may encompass the whole company The percep7on is driven by marke7ng, experience with the product & recommenda7ons from friends and colleagues
BRAND FOCUSED, SOCIALLY ACTIVE, DIGITALLY ENABLED
Awareness Marke7ng Ø
Ø
Ø
HTTP://EMAGINE-GROUP.COM
But in the purchasing cycle, awareness is furthest from the customer purchase There is also a significant 7me delay between awareness marke7ng & actual sales Financial metrics are not useful in measuring awareness & brand marke7ng
BRAND FOCUSED, SOCIALLY ACTIVE, DIGITALLY ENABLED
Awareness Marke7ng Ø
Ø
HTTP://EMAGINE-GROUP.COM
We use brand awareness surveys to track customer awareness across geographies and over 7me Typical metrics measure the effec7veness of awareness marke7ng like number of a[endees at events, eyeballs on a a website & media impressions
BRAND FOCUSED, SOCIALLY ACTIVE, DIGITALLY ENABLED
Tiger Wood’s win in the 2005 Masters received $10.4 million of TV exposure for Nike
HTTP://EMAGINE-GROUP.COM
BRAND FOCUSED, SOCIALLY ACTIVE, DIGITALLY ENABLED
Jeff Gordon received $9.9 million of exposure for DuPont brand when he won the 2005 Daytona 500
HTTP://EMAGINE-GROUP.COM
BRAND FOCUSED, SOCIALLY ACTIVE, DIGITALLY ENABLED
The problem is these metrics do not connect to purchase intent and do not capture the effec7veness of the marke7ng.
HTTP://EMAGINE-GROUP.COM
BRAND FOCUSED, SOCIALLY ACTIVE, DIGITALLY ENABLED
Brand Awareness Metric Ability to Recall a Product or Service
HTTP://EMAGINE-GROUP.COM
BRAND FOCUSED, SOCIALLY ACTIVE, DIGITALLY ENABLED
Top of Mind Recall means that in the purchasing cycle, your product/ service will be one of the first the consumer thinks about to consider purchasing
HTTP://EMAGINE-GROUP.COM
BRAND FOCUSED, SOCIALLY ACTIVE, DIGITALLY ENABLED
How is it measured? By asking
HTTP://EMAGINE-GROUP.COM
BRAND FOCUSED, SOCIALLY ACTIVE, DIGITALLY ENABLED
For (product/service), what is the first name you think of? For (product/service), what other names have you heard of?
HTTP://EMAGINE-GROUP.COM
BRAND FOCUSED, SOCIALLY ACTIVE, DIGITALLY ENABLED
These ques7ons uncover the unaided recep7on of your product/ service and the rela7ve ranking of brands rela7ve to it
HTTP://EMAGINE-GROUP.COM
BRAND FOCUSED, SOCIALLY ACTIVE, DIGITALLY ENABLED
These ques7ons are the star7ng point and should be refined for the specific campaigns with follow-‐on ques7ons to uncover brand and messaging impact and intent to act (purchasing intent). HTTP://EMAGINE-GROUP.COM
BRAND FOCUSED, SOCIALLY ACTIVE, DIGITALLY ENABLED