Allocadia Webinar: Looking Forward & Back in Marketing Performance
-
Upload
allocadia-software -
Category
Marketing
-
view
521 -
download
0
Transcript of Allocadia Webinar: Looking Forward & Back in Marketing Performance
1
Welcome!Please see the instructions in ReadyTalk for connecting to audio.
@allocadia#mktgperformance
222
Your Hosts
James ThomasCMOAllocadia
Katherine BerryChief Product Officer & Co-FounderAllocadia
333
Join Us on Social
#mktgperformance@allocadia
444
What We’ll Cover Today
1. Understanding Performance• Past, Present & Future!
2. Setting Meaningful Targets• 5 Recommendations for next year
3. Real-world Scenario• Global Marketing Organization
555
Intro
Performance:Are we spending to plan?
+What are we gettingout of that spend?
666
The Path to Performance
777
Challenges with Performance Data
Challenges…• Complex• Things change• No time• Status quo• Data in silos• Analytics expertise
888
Analyst Data
Analyzing Performan
ceSource: VentureBeat Report: The State of Marketing Analytics: Insight in the age of the customer (2015)
Does your company formally evaluate your marketing analytics for quality and accuracy?
999
Analyst Data
Source: VentureBeat Report: The State of Marketing Analytics: Insight in the age of the customer (2015)
In terms of total time spent generating analytics reports, what percent of your time is spent on the following:
Reporting on the
past
Analyzing
thepresent
Predicting/influencingthe future
Analyzing Performan
ce
101010
Recommendation: Gathering Data
Start With Either Past Or
Present
PresentPast
PresentPast
111111
Gathering Past Data
1. Finance systems1. Spend/Commit data
2. CRM 1. Revenue/Pipeline data2. Campaign Influence data
3. Marketing automation1. Campaign Results data
4. Social4. Brand Data
5. Web analytics4. Activity Data
Start with a view of what
you spent then work
your way up the funnel
121212
Gathering Present Data
131313
Recommendation: Metrics to Gather
CMO / VP of Marketing
Field & Corporate Marketing
Marketing Operations Efficiency | Bus, Mark, Org
Finance Accuracy | Org
Output | Marketing
Impact | Business
141414
Recommendation: Analytics Approach
Top-down vs. Bottoms-
up
Aggregated vs. Granular
151515
Reminder on Attribution
1Single Touch
100% credit to last or first touch
2Rules
Credit to each touch based on specific business rules
3Statistically DrivenCredit to each touch based
on a data driven model
Regression modelProbabilistic model
Evenly weightedCustom weighted
Time decayPosition based
First TouchLast Touch
SophisticationAccuracy / InsightCost / Complexity
161616
Recommendation: Gathering Future Data
Start with simply
combining Past Actuals +
Future PlanPast Actuals + Future Plan
= Forecast
171717
Setting Performance
Targets
181818
Components of Performance Measurement
• Goals• Targets• KPIs• And
motivation!
191919
The Importance of Performance Targets
Benefits Challenges• Focus• Accountability• Alignment• Motivation
• Too aggressive = cut corners
• Too moderate = not enough fire
• Morale can suffer when you don’t hit targets, important to re-adjust
202020
Recommendations for Performance Targets
1. Start with an understanding of the overall business goals.
Ensure marketing targets are aligned with company goals.
212121
Recommendations for Performance Targets
2. Fine-tune your targets.
Historical data or present conditions will help you to make these small adjustments.
222222
Recommendations for Performance Targets
3. Compare your targets to relevant benchmarks.
Historical, industry and analyst benchmarks can further optimize your targets.
232323
Recommendations for Performance Targets
4. Internal communication is essential.
Well-defined marketing targets inspire marketers to define individual performance goals.
242424
Recommendations for Performance Targets
5. Empower your marketers to hit targets
Well-defined strategic marketing plans help you to more accurately forecast and therefore hit targets.
252525
Recommendations for Performance Targets
Scenario Planner Strategic AlignmentPlanner
Revenue PerformancePlanner
262626
Analyst Data
Reviewing Plans
Source: Ventana Research Next-Generation Business Planning Benchmark Research
272727
ExampleScenario
282828
Example Scenario
Creates the Strategic Plan
• Outlines top 3 strategic goals within a document
• e.g. Goal: Drive $100M in net new revenue
VP of Marketing, Monarch Tech Inc.Scenario: It’s September 2016. The company has just completed its yearly strategic planning conference.
1 Identifies High-level Targets2 Communicates
Plan to Stakeholders
3• Outlines top 1-3 KPIs
per goal• e.g. Target: Invest 10%
of revenue in marketing programs
• Share with C-level execs as well as Operations
292929
Example Scenario
Gathers Data
• Either manually or through automated connectors within a system like Allocadia
VP of Marketing Ops, Monarch Tech Inc.Scenario: It’s October 2016. He’s received the strategic plan and needs to operationalize it.
4 Analyzes Performance5 Fine-tunes Targets
& KPIs6• Through:
• Data visualizations• Audit trail
• Targets e.g. Starts with $100M marketing investment target divided into regions and business units
• Breaks it down to specific targets for particular Regions and/or BUs
• KPI e.g. All Business Units to be Over/Under Target by 3%
303030
Gathering the Data
Step 4: Ops has connected their investment and returns performance data to Allocadia.
313131Step 5: Ops uses Allocadia reports (& audit trail) to look at a historical FY view of performance.
Investment Target vs Actual Returns Target vs Actual
Analyzing Past Performance
323232
Example Scenario
Empowers marketers to build a strategic plan & hit targets!
• Gives them visibility into: • Functional Targets• Strategic Targets• Estimated Revenue Impact
VP of Marketing Ops, Monarch Tech Inc.Scenario: It’s November 2016.He now needs the marketing organization to build a plan that meets targets.
7
333333Step 7: Marketers see functional and strategic targets as well as estimated revenue impact.
Empowering your marketers to hit targets
343434
Example Scenario
He presents the operationalized plan
VP of Marketing Ops, Monarch Tech Inc.Scenario: It’s December.He now needs to present the plan to stakeholders to demonstrate alignment.
8• Showing the plan is:
• On track to be on Target• Aligned to objectives• Has enough output to impact
revenue
353535 Step 8: A view of the strategic marketing plan aligned to targets.
The Strategic Plan
363636
Example Scenario
On-going Visibility into Performance – in Real-time
VP of Marketing Ops, Monarch Tech Inc.Scenario: It’s January.The marketing team is executing. He needs to monitor performance on-going and make adjustments to targets as need be.
9• Forward-looking view of performance• Can course correct early and often
373737Step 9: Monitor performance in real-time with a forecasted view of performance.
Future View of Performance
383838
Key Takeaways
1. Understand your business objectives to set meaningful targets.
2. Invest time in communicating those targets and giving marketers visibility into their progress.
3. Aim for a real-time forward-looking view of performance.
393939
Questions
Type your questions in the comment box
#mktgperformance
@allocadia
404040
Additional Resources
The Gold Medal Playbook of
Marketing Planning (eBook)
Strategic Planning for Modern
Marketers (Ventana Research
white paper)
Plus on-demand webinars:
• 5 Marketing Planning Best Practices to Achieve of your Objectives
• How to Align Campaign Plans & Budgets with SiriusDecisions & Allocadia
All available on the Resources section at allocadia.com
414141
Thank you!
James ThomasCMOAllocadia
Katherine BerryChief Product Officer & Co-FounderAllocadia
#mktgperformance
@allocadia