THE IDEAL DIGITAL AGENCY

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Cynthia Ward
5 years ago
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2 HO E RE THE IDEAL DIGITAL AGENCY We create ideas, nurture them, prove them and put them into action. But we don t stop there. We measure stats. We analyze patterns. And we constantly fine tune the experience for continued growth. At Ready Set Rocket, we never stop making good ideas better.

3 CREATING A DIGITAL STRATEGY The Art of Analytics, Measurement and Success

4 WHAT IS THE AVERAGE TENURE OF A CMO?

5 23 MONTHS!

6 5 CMO s IN 7 YEARS

7 4 CMO s IN 6 YEARS

8 3 CMO s IN 5 YEARS

9 Recovering Economy WHY HIGH TURNOVER? New Technologies or Engagement Channels Emerging Issues & Challenges Facing Marketers in 2011 Internet Influence and Voice SOURCE: CMO COUNCIL New Talent and Skill Set Requirements

10 Social Media & Web 2.0 Strategy WHY HIGH TURNOVER? Continuing Education: Where CMOs look to add skills or competencies SOURCE: CMO COUNCIL Customer Data Analytics Competitive Strategy Development Global Strategy Market Entry and Market Development Web Metrics and Measurement

11 Growth Dollars and Cents Budgets shift from traditional to digital Q: What % of your overall marketing budget was invested in digital channels in 2011 vs 2012 Significantly decreasing Somewhat decreasing Staying the Same Somewhat increasing Significantly increasing Paid Digital Media Paid Traditional Media Earned/Owned Media

12 Growth Adoption Industries showing strongest growth in use of digital technology Source: SoDA Digital Marketing Outlook Report % 41% 38% 30% 30% Retail Travel/Tourism Financial CPG Medical 29% Automotive 19% Non-profit/arts 15% Government

13 Opportunity The Evolution of Digital s Role Digital now defines strategy Source: SoDA Digital Marketing Outlook Report 2012

14 ATTRIBUTE SUCCESS HY BUDGET, ALLOCATE & DEFEND RESOURCES FORECAST DEMAND OPTIMIZE PERFORMANCE EASURE?

15 Best efforts will not substitute for knowledge. - Gordon Bethune CEO, Continental Airlines

16 9 STEPS TO A SUCCESSFUL DIGITAL STRATEGY

17 STEP 1 DO AN INTERNAL DISCOVERY

18 WHAT IS SUCCESS?

19 Sell More Product Drive More Leads EFINE Create More Brand Awareness Increase Advocacy Increase Donations UCCESS

20 ASK YOURSELF What is the reason for this initiative? What do you hope to accomplish? How will you judge its success? What are the 3 most important actions a customer should take? What is your fundamental point of differentiation? What is the maximum $ you can spend to acquire a customer?

21 BUSINESS OBJECTIVES Increase online sales Increase customer retention Attract prospects / new customers Increase Frequency of Purchase Lower inbound call volume Increase share of voice Share Business Value Proposition Drive Offline Action

22 STEP 2 DEFINE MEASURABLE KPIs

23 MEASURE AWARENESS

24 MEASURE ENGAGEMENT

25 MEASURE CONVERSION

26 MEASURE LOYALTY

27 KPI s Key Performance Indicators Defining measurable KPIs is foundational to digital marketing programs Awareness Visits from search engines Referrals from social media Blog & online news mentions Engagement Content downloads Content shares Visit services page Conversion Lead submission via Lead submission via phone Download White Paper Loyalty Engagement with s RSVPs for seminars Retweets

28 WHAT ARE YOUR KPI s

29 INDUSTRY SPECIFIC KPI s

31 Purchase Product Add to Cart Use Store Locator Share via Facebook Like on Facebook Sign up for Newsletter Add to Wishlist Check Shipping & Return Info Engage with Live Chat Request Catalog

33 Download Media Kit Contact Sales Share via Twitter Share via LinkedIn Download Press Release Download White Paper View Case Study Call Sales via Tracked Number Sign up for Newsletter Follow Brand on Twitter

35 Donate Share via Facebook Share via Twitter Share via Sign up for Newsletter Advocacy/Take Action FB Like Page Subscribe via RSS Become a Member Volunteer

37 Reserve Storage Room Contact Sales Share via Facebook Share via Twitter Sign up for Newsletter Use Live Chat Call via Tracking Number Like on FB Order Supplies Get a Quote

39 Get a Quote Share via Share via Facebook Share via Twitter Sign up for Newsletter Request Call Back Use Planning Tools Engage with Career Center Learn about a Product Line Consult an Agent

41 Download Prospectus Find an Adviser Near Your Share via Facebook Share via Twitter Download White Paper View Case Study Submit Lead Gen Form Sign up for Newsletter Contact Us Download a Resource

43 Sign up for Newsletter Share via Facebook Share via Twitter Like Site on FB Like Article on FB Comment on Article View > X Pages/Visit Be a Return Visitor Advertise with Us Avg. Time on Site > X

45 Join our Team Contact Us Share via Facebook Share via Twitter Share via LinkedIn Download Case Study View our Work Sign up for Newsletter Like Us on Facebook Follow Us on Twitter

47 ?

48 STEP 3 DEFINE A DIGITAL A STRATEGY

49 KPI s METRICS DIGITAL STRATEGY ( , SITE, SOCIAL) ROCESS VERVIEW

50 PI s Increase Revenue ETRICS Increase Conversion Rate Increase Avg. Order Value Increase Site Traffic Increase Reorder Rate Increase Per Visitor Value Increase Sharing

51 MORE ABOUT METRICS 1, 2, 3 VS Counter Metrics Visits Page Views Whitepapers Downloaded Ratio Metrics Conversion Rates Newsletter Signup Rate Average Time on Site

52 SITE STRATEGY INCREASE CONVERSION RATE TO X INCREASE DEPTH OF VISIT TO Y INCREASE ONSITE SHARING BY Z

53 SOCIAL STRATEGY INCREASE ENGAGEMENT BY X DECREASE NEGATIVE POST BY Y INCREASE WORD OF MOUTH BY Z

54 STRATEGY INCREASE OPEN RATES BY X INCREASE CTR BY Y INCREASE SIGN UPS BY Z

55 STEP 4 MEASURE

56 TAG IT

57 MEASURE IT

58 STEP 5 FUNNELS

59 SAMPLE CONVERSION FUNNEL VISITORS TO WEBSITE: 10,000 TOTAL VISITORS TO THE SITE 60% Visit Shopping Area 100% of Visitors 30% Place Item in Cart 54 VISITORS COMPLETE GOAL 3% Make a Purchase

60 ACQUISITION Digital Sales Funnel Understanding what it takes to acquire a customer General Head Terms (i.e NY Digital Agencies) Award Sites Industry Blogs / Thought Leadership Editorials or Referral Sites Awareness Category or Specific Terms (i.e Digital Marketing Agencies NY) Targeted Category Campaigns Specific Branded Terms Research & Compare Stage Ready to Buy Stage Mentions on Twitter/Facebook LinkedIn Ad Follow on Twitter/LinkedIn Direct Visits (Bookmarked) Reputation Review through Peers

61 SAMPLE GOAL FLOW

62 STEP 6 ASSIGN VALUE TO ANY GOAL

63 HOW MUCH IS A NEWSLETTER SUBSCRIBER WORTH?

64 NEWSLETTER REVENUE NEWSLETTER SUBSCRIBERS NEWSLETTER SUBSCRIBER

65 HOW MUCH IS A FACEBOOK LIKE WORTH?

66 FACEBOOK REVENUE FACEBOOK LIKES ACEBOOK IKES

67 Join our Team Contact Us Share via Facebook Share via Twitter Share via LinkedIn Download Case Study View our Work Sign up for Newsletter Like Us on Facebook Follow Us on Twitter

68 Join our Team - $100 Contact Us - $5,000 Share via Facebook - $1.11 Share via Twitter - $3.04 Share via LinkedIn - $19.02 Download Case Study - $ View our Work - $14.78 Sign up for Newsletter - $19.66 Download the One Sheet - $ Follow Us on Twitter - $1.08

69 Join our Team - $100 Avg NYC Agency Salary - $100k Avg Recruitment Fee - 20% Avg Recruitment Cost - $20k Avg. Interview Rate - 5% Avg. Cost for Interview - $1000 Avg. Hire Rate - 10% Avg. Cost for Join Our Team - $100

70 WHAT ARE YOU TRYING TO MEASURE?

71 STEP 7 OPTIMIZE YOUR CHANNELS

72 E-COMMERCE CHANNEL ATTRIBUTION Source Visitors Revenue Rev / Visitor Facebook Twitter Pinterest Huffingtonpost $17000 $4000 $9000 $1400 $1.70 $0.80 $1.50 $7.00

73 E-COMMERCE CHANNEL ATTRIBUTION Source E-Com Rev/Visitor Other Goal Value Last Click Total Value Facebook Twitter Pinterest Huffingtonpost $ $ $ $ $4.56 = $0.61 = $3.09 = $4.01 = $6.26 $1.41 $4.59 $11.01

74 MULTI-CHANNEL ATTRIBUTION