Digital Strategy Lecture 10
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...an overview of control
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Digital Strategy Lecture 10
- 2. SOSTAC® planning model… 1 2 3 4 5 6 situation objectives strategy tactics action control corporate marketing digital resources scheduling Smith, 1990 5S’s marketing mix
- 3. marketing control process Baines et.al., 2016 1. Discuss, develop and decide on marketing objectives 2. Establish performance measures and standard 3. Evaluate actual performance against established standards 4. Take corrective action as necessary
- 4. Implications of control Structures must be clearly defined The extent of functional control must be determined Responsible individuals should be fully involved in planning Regular performance reports should be provided Responsible individuals should revise the plan when necessary Every item should be the responsibility of an individual within the organisation
- 5. …developing intelligent strategic objectives Objective Substantiation Strategies to achieve goals KPI’s Link to stage of consumer journey and SMART Link to audit findings and TOWS options Link to STP, OVP, growth and positioning What will you be measuring? Conversion – increase average order value to £30 per customer Increase in disposable income Increased desire for product Position as luxury against key competitors Differentiation through features OVP – exclusivity % of unique visitors responding to promotions
- 9. …we need to avoid relying on vanity metrics
- 10. …so what metrics should we be tracking? Metrics that are actionable… Metrics that help us measure achievement… Moogan, 2011, Moz, 2017 Metrics that help us learn and grow…
- 11. actionable metrics… % visitors who view product pages… % visitors who search and then leave… exit pages Conversions… Bounce rate… Page load speed…
- 12. …it’s also useful to know Browsers and traffic source… Customer behaviour… Content efficiency… Hours and days… Mobile performance… Traffic from social media… Keywords!
- 14. Facebook insights… Virality… Likes and reactions… Talking about… Reach… Engagement… Impressions… Video engagement… Click Through Rate (CTR)…
- 17. Advertising Metrics… Video Advertising… Brand Awareness (sentiment), Purchase Influence, SoV Acquisition, Reputation, Brand Recognition (sentiment) Native Advertising… Programmatic… Recognition, Traffic, Lead Generation Marketo, Google, Econsultancy, 2017
- 19. Attribution modelling… Last Click… Last Non-Direct Click… off-site First Click… Linear… all clicks contribute Positional… all clicks contribute but are weighted differently Murphy, Bloom Worldwide, 2017 Time-Decay… All clicks are weighted but the latest are more relevant
- 20. …data-driven?
- 21. …so it helps if we know the customer journey
- 22. …developing intelligent strategic objectives Objective Substantiation Strategies to achieve goals KPI’s Link to stage of consumer journey and SMART Link to audit findings and TOWS options Link to STP, OVP, growth and positioning What will you be measuring? Conversion – increase average order value to £30 per customer Increase in disposable income Increased desire for product Position as luxury against key competitors Differentiation through features OVP – exclusivity % of unique visitors responding to promotions
- 23. …what should I measure?