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This session on Marketing Metrics was presented to the Southeast Wisconsin Chapter of HCPRMS (the HealthCare Public Relations and Marketing Society) on April 16, 2009.
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April 16, 2009
Measuring the Results of Your Marketing Efforts
Introduction
• Kevin A. Barnes, Creatonomy
Agenda
• Why Measure Marketing? • Marketing Measurement Hierarchy • What is Marketing ROI? • Marketing Metrics in Action - Examples:
• Email Marketing Campaign Metrics • Social Media Metrics
• Why Now? • Resources • Questions
The Problem
“I know half of my advertising doesn’t work. The problem is, I don’t know which half.”
John Wanamaker
If You Remember One Thing …
Every time you start a marketing initiative, ask yourself: 1. What am I trying to accomplish?
2. How will I know whether I’ve accomplished it?
Why Bother??
Why Bother??
Why Bother??
Marketing is scaleable / flexible
Marketing Measurement Hierarchy
Tier Measure Goal 1 ROI Maximize Profits
2 Conversion Rate Maximize Customer #s
Cost Per Sale Minimize Marketing Expense
3 Cost Per Impression Track Performance
Awareness Track Performance
Source: James D. Lenskold, Marketing Management, May/June 2002
What is Marketing ROI?
ROI = Return On Investment
The Basic ROI Formula
Return ( Gross Margin - Marketing Investment ) Investment Marketing Investment ROI = =
The Basic ROI Formula
Return ( Gross Margin - Marketing Investment ) Investment Marketing Investment
( $150,000 - $100,000 ) $100,000
ROI = =
=
The Basic ROI Formula
Return ( Gross Margin - Marketing Investment ) Investment Marketing Investment
( $150,000 - $100,000 ) $50,000 $100,000 $100,000
ROI = =
=
The Basic ROI Formula
Return ( Gross Margin - Marketing Investment ) Investment Marketing Investment
( $150,000 - $100,000 ) $50,000 $100,000 $100,000
ROI = =
= = 50%
It’s equations all the way down!
Examples of Specific Metrics
• Ad Awareness • Gross Ratings Points (GRPs) • Web Page Unique Visitors
• Clickthrough Rate • # Blog Posts about your Brand • Sales / Purchases
Example: Email Marketing Campaign
Example: Email Marketing Campaign
Example: Social Media Campaign
Example: Social Media Campaign
Example: Social Media Metrics
Fundamental Metric Source Influence Time on Site Web Analytics: Google,
Omniture, Web Trends Engagement Comments/Posts Google, Omniture
Diggs, bookmarks DoubleClick, Digg Podcast Listens Feedburner
Loyalty Blog Posts on Brand BlogPulse Recommendations Cymfony, Techrigy Tweets, etc. Cymfony, Techrigy
Is Heath Care Marketing Unique?
The time is now …
This is the time for marketing metrics: 1. Easier
2. Less expensive 3. More accurate
If You Remember One Thing …
Every time you start a marketing initiative, ask yourself: 1. What am I trying to accomplish?
2. How will I know whether I’ve accomplished it?
Resources
• Marketing Metrics, Paul W. Farris et. al., 2008
• Marketing Calculator, Guy R. Powell, 2008
• Marketing ROI, James D. Lenskold, 2003
Questions?
For More Information
• Kevin A. Barnes • [email protected] • 414.223.7500 ex. 124
• Twitter.com/kevinabarnes
Thank You!
