Marketing By the Numbers for the 21st Century - David Kohls
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Marketing By the Numbers for the 21st Century - David Kohls
- 1. By The Numbers Marketing in the 21st Century David Kohls KohlsConsulting@gmail.com
- 2. Monthly web traffic 25000 20000 15000 Petabytes Internet Mobile 10000 5000 0 2005 2007 2009 2011
- 11. The Objective of Marketing • Marketing aligns your brand with the largest market segments in which you have an advantage and targets promotions – Brand – a promise of value (that your core competence can fulfill) – Market segment – personae with a need where you can deliver a product or service – Advantage – your differentiation so you don’t compete on price alone
- 12. The good news • Moore’s law • Your potential customers can self-educate 24/7 from anywhere • You can learn more about customers than ever before through Business Intelligence • Social can lower your support costs and enhance virality
- 13. The bad news • Moore’s Law • Your potential customers can self-educate 24/7 from anywhere • Data accumulates much faster than it can be analyzed … for now • Business Intelligence has only 4% penetration • Social means that messaging about your brand can easily get out of control
- 14. The really bad news • Moore’s law and free trade = nowhere to hide • Product life cycles get shorter • Differentiation gets harder • Linearity is disappearing – Traditional market forecasting is in trouble • The bear is coming
- 15. Analytics at its best • Imprecise indicators of trends • Indicators of actions to take • Use A/B testing for continuous refinement – Tweak and retweak – Pay attention to timing • Report using the language of stakeholders • Track ROI of analytics to justify efforts
- 16. Marketing Then and Now • Revenue generation: • Revenue generation: Marketing 30% Marketing 70% Sales 70% Sales 30% • 3 to 5 ad impressions • More than 10 impressions per per conversion conversion • You control the • You try to track the messaging messaging • A persona is an idea • A persona is a segment that you can target
- 17. The Google Perspective • Return on Analytics is the improvement in marketing revenue due to analytics • Zero moment of Truth – prospects need over 10 exposures before they first convert and buy a product – you need to track and measure to know how to build sales. – ‘Micro-conversions’ – exposures before the ‘macro-conversion’
- 18. Data Sources • Structured data • Unstructured Data – E-mail responses – Blogs – Web logs – Tweets – Forms – Articles – Client records – Social likes/comments – Affiliate records – Rating sites – Mobile Applications – Video – Response forms – Images – Tracking cookies
- 19. Typical Web Analytics • Make sure all of your pages are tracking • Model your funnel • Define your goals • Identify your Key Performance Indicators • Identify historic baselines for KPIs • Use a dashboard to monitor actuals vs baselines
- 20. Market Evolution Examples • Marketing automation – RocketFuel – Use artificial intelligence to tweak your marketing programs for you in real time • BI Services – adding in the unstructured data – Infinigraph – rate your campaigns and brands based on sentiment on Twitter, Facebook etc.
- 24. By the Numbers An unconference presentation 3/30/2013 David Kohls KohlsConsulting@gmail.com