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DRIVING DIGITAL RESULTS IN B2B MARKETS
Steve Muylle, PhD Full Professor & Partner
DISRUPTION
3
© Vlerick Business School4 © Prof Dr Steve Muylle
DISRUPT JOB MATCHING?
© Vlerick Business School5 © Prof Dr Steve Muylle
DISRUPT JOB MATCHING?
© Vlerick Business School
“GETTING AMAZONED”
6
“We seek to be Earth’s most customer-centric company for four primary customer sets:
consumers, sellers, enterprises, and content creators.”
- Jeffrey P. Bezos Founder and Chief Executive Officer Amazon.com, Inc.
© Prof Dr Steve Muylle
© Vlerick Business School7 © Prof Dr Steve Muylle
TECH VALUATIONS
DIGITAL STRATEGY
8
© Vlerick Business School © Amit Basu & Steve Muylle
DIGITAL STRATEGY
9
(Source: adapted from Bharadwaj et al. 2013)
Organizational Performance
DIGITAL STRATEGY
Contexts Modes
Processes
KEY TECH TRENDS Analytics - Big Data Cloud Computing
Cognitive Computing Internet of Things
Mobile - Social
KEY MARKET SHIFTS Customer Behavior
Digitization of Products New Business Models Redefined Ecosystems
© Vlerick Business School © Amit Basu & Steve Muylle10
PROCESSES
Source: Basu Amit and Steve Muylle, How to plan E-business Initiatives In Established Companies, MIT Sloan Management Review, Vol. 49, No. 1, lead article, pp. 28-36, Fall 2007.
© Vlerick Business School11
SIEMENS LIFE PORTAL
Source: Stefaan De Moor, Service Director, Siemens NV, [email protected]© Prof Dr Steve Muylle
RESULTS
12
© Vlerick Business School13
ORGANIZATIONAL PERFORMANCE
How does your firm evaluate the success of its customer facing digital initiatives?
© Prof Dr Steve Muylle
© Vlerick Business School14 © Prof Dr Steve Muylle
DIGITAL ADVERTISING REVENUES
© Vlerick Business School © Prof Dr Steve Muylle15
© Vlerick Business School16
© Prof Dr Steve Muylle
© Vlerick Business School17
MEASUREMENT
“If you try to measure every single thing you are doing, you will manage the ants while the elephants are storming by.”
Sheila Jordan, Cisco
Senior Vice President of Communication and Collaboration IT
© Prof Dr Steve Muylle
© Vlerick Business School18
METRICS
Many tech companies rely on “unique financial or operational metrics” to demonstrate their size or growth prospects, including their user numbers of even the number of people who “like” their company.
“In the absence of a clear description, it can be hard not to think that these big numbers will inevitably translate into big profits for the company. But the connection may not necessarily be there.”
Mary Jo WhiteChair of the Securities and Exchange Commission
© Prof Dr Steve Muylle
© Vlerick Business School19
FACEBOOK AND TWITTER “BUY” BUTTONS
© Prof Dr Steve Muylle
© Vlerick Business School20
PINTEREST AND INSTAGRAM “BUY” BUTTONS
© Prof Dr Steve Muylle
© Vlerick Business School21
METRICS
▪Financial metrics ▪Revenues (e.g., online product sales, ARPU) ▪Costs (e.g., CPM, CPC, CPA) ▪ Profits (e.g., CLTV, ROI)
▪Operational metrics ▪Open rates, bounce rates, unique visitors,
visits, visit duration, CTR, downloads, requests, fans, likes, shares, conversations, followers, … ▪Customer satisfaction, promotion, … ▪Brand awareness, associations, attitude, …
© Prof Dr Steve Muylle
© Vlerick Business School22
METHOD
1. Define measures that matter, and develop attribution models that capture the relationships between them
2. Leverage digital tools and analytics to collect and analyze the data across user touch points
3. Develop a dashboard for follow-up
4. Stimulate real-time measurement and experimentation (e.g., A/B testing)
5. Decide on which measures to report
© Prof Dr Steve Muylle
© Vlerick Business School23
ATTRIBUTION MODELS
Go beyond the measurement of “last click wins” if
users take multiple steps before converging
Define a key conversion outcome (e.g., a sale) and
analyze and map the paths that delivered the
conversion
Organize for tracking systems that identify the user
across online and offline channels
© Prof Dr Steve Muylle
© Vlerick Business School24
USER PATH AND ATTRIBUTION
© Steve Muylle & Amit Basu
AuthenticationSearch PaymentValuation Logistics Configurati
onCustomer Service BICollaborati
onIntegra
tion
Website
LinkedIn Ads
Google Adwords
Media Ads
Direct Mail
Website
Tel call
Interview
Brochure Brochure Invoice
Applica-tion Form
Class room
Mobile App
Yammer
E-mail Yammer
Tel call Tel call
Trusted 3Parties
Program Finder
Tel call
PDF Brochure
WebsiteON
LIN
EO
FFLI
NE
At individual, segment (persona), aggregate level
© Vlerick Business School25
ATTRIBUTION MODEL
RANK PATH (SEQUENCE OF MECHANISMS) CONVERSION
Google Ad – Website – Form
Website – PDF Brochure – Website – Form
Direct mail – Brochure – Form
17
10
7
1
2
3
© Prof Dr Steve Muylle
© Vlerick Business School26
METRICS FOR ATTRIBUTION MODEL
Mechanism Operational Metric
Financial Metric
Google Ad Clicks CPC
Website Visits – Unique Visitors - CTR
CPV
PDF Brochure Downloads CPD
Direct Mail C2A CPC; CPA
Brochure Requests CPR
Form Attrition/Fill rate Revenue
© Prof Dr Steve Muylle
CASE STUDY
27
© Vlerick Business School
BARCO
28 © Steve Muylle, Freya De Berti, Lieven Bertier
© Vlerick Business School
BARCO CLICKSHARE
ClickShare wireless presentation system CSC-1 – Full-featured wireless presentation system for high-profile meeting rooms and boardrooms
(April 2012)
CSM-1 – Wireless presentation for standard meeting rooms (November 2013)
29 © Steve Muylle, Freya De Berti, Lieven Bertier
© Vlerick Business School
DOWNSTREAM VALUE CHAIN
30
Barco Distributors Resellers End user firms
© Steve Muylle, Freya De Berti, Lieven Bertier
© Vlerick Business School
LEAD GENERATION
31
Awareness
Engagement
Contact
Lead
© Lieven Bertier
© Vlerick Business School
USER TOUCH POINT - EVENTS
32 © Steve Muylle, Freya De Berti, Lieven Bertier
© Vlerick Business School
USER TOUCH POINT - PRESS
33 © Steve Muylle, Freya De Berti, Lieven Bertier
© Vlerick Business School
USER TOUCH POINT - E-MAIL
34 © Steve Muylle, Freya De Berti, Lieven Bertier
© Vlerick Business School
USER TOUCH POINT - GOOGLE ADWORDS
35 © Steve Muylle, Freya De Berti, Lieven Bertier
© Vlerick Business School
USER TOUCH POINT - WEBSITE
36 © Steve Muylle, Freya De Berti, Lieven Bertier
© Vlerick Business School
USER TOUCH POINT - TWITTER
37 © Steve Muylle, Freya De Berti, Lieven Bertier
© Vlerick Business School
USER TOUCH POINT - FACEBOOK
38 © Steve Muylle, Freya De Berti, Lieven Bertier
© Vlerick Business School
USER TOUCH POINT - YOUTUBE
39 © Steve Muylle, Freya De Berti, Lieven Bertier
© Vlerick Business School
USER TOUCH POINTS
End Users
Events Press E-mail Google Adwords Website Twitter Faceboo
k YouTube
40 © Steve Muylle, Freya De Berti, Lieven Bertier
© Vlerick Business School
RESEARCH QUESTION
Is Barco’s digital strategy for ClickShare on the money?
41 © Steve Muylle, Freya De Berti, Lieven Bertier
© Vlerick Business School
5S FRAMEWORK
S Typical metrics
Sell Online sales
Serve Conversion rate, duration
Speak Discussions, ratings
Save Cost reduction, increase Web self-service
Sizzle Improve branding metrics, add features to
customer online Source: Chaffey & Smith
© Steve Muylle, Freya De Berti, Lieven Bertier42
© Vlerick Business School
DATA
Monthly user touch point and unit sales data User touch points elaborated in terms of views, clicks, shares (where appropriate) Period: March 2012 – August 2014 Analysis through multiple hierarchical regression (IBM SPSS 21)
43 © Steve Muylle, Freya De Berti, Lieven Bertier
© Vlerick Business School
ATTRIBUTION MODEL
44
YouTube views
YouTube min w
Press clipp.
Website views
Website contact Leads
Sales +4mths
Blog
Events
Adwords clicks
© Steve Muylle, Freya De Berti, Lieven Bertier
© Vlerick Business School
ATTRIBUTION MODEL
45
YouTube views
YouTube min w
Press clipp.
Website views
Website contact Leads
Sales +4mths
Adwords clicks
2.917.47
.45
27.74
.722
17.61
.473
2.5
.02
Events
© Steve Muylle, Freya De Berti, Lieven Bertier
Blog
© Vlerick Business School
ATTRIBUTION MODEL
110 extra unique web site visitors result in 1 extra lead 1 extra lead on average results in 3 extra units sold
Hence, the assumption is that for every 36 extra website visits, one extra unit gets sold.
How to drive traffic? 1 press clipping => 17 extra unique web visitors => 0.15 leads per clipping 2 YouTube views => 1 extra unique web visitor => 0.02 leads per You Tube view An event leads to 30 leads Google Adwords => every click leads to 0.7 extra unique web visitors => 0.007 leads per click
46 © Steve Muylle, Freya De Berti, Lieven Bertier
© Vlerick Business School
NEXT STEPS
47
Continue research collaboration Continue data collection Calibrate the hypothesized model
Refine Barco’s digital initiatives for ClickShare based on the research study insights
© Steve Muylle, Freya De Berti, Lieven Bertier
© Vlerick Business School48
CONCEPTUAL VIEW
Authentication
Off
line
On
line
Search PaymentValuation Logistics Configuration
Customer Service BICollaborati
onIntegra
tion
Google/ YouTube
Website
Events
Press
Press
Events Events Invoice Distri-butor Reseller Reseller
Website
Website
© Steve Muylle & Amit Basu
Google/ YouTube
Reseller
© Vlerick Business School © Prof Dr Steve Muylle
Where’s the beef in your disruption initiatives? The key is to implement digital strategy initiatives that deliver. Many organizations get side tracked because of the multitude of KPIs provided by tech firms and agencies. A set of key metrics is to be defined that enables the organization to course correct, based on proper attribution.
TAKE AWAY
49
© Vlerick Business School
THANK YOU!
Steve Muylle, PhD Professor & Partner Vlerick Business School
Contact [email protected]
Connect
www.linkedin.com/in/stevemuylle