Using Data to Enhance Business Marketing
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USING DATA TO ENHANCE MARKETING SUCCESS Ph
oto
Cre
dit:
picj
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.com
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marketing 101
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mar•ket•ing
The act of communicating the value of a product, service or brand to customers or consumers for the purpose of promoting or selling that product, service, or brand.
Source: Wikipedia (https://en.wikipedia.org/wiki/Marketing)
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mar
The act of communicating the value of a product, service or brand to customers or consumers for the purpose of promoting or selling that product, service, or brand.
Source: Wikipedia (
Attention
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Measure
Implement
Marketing Cycle
Plan
Create
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What is Data? Information collected from market or
consumer research
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Data vs Creative
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Cre
dit:
http
s://
mar
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/201
5/02
/dat
adriv
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tml
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ART Brand
Messaging
Design
Medium/Media
Flair/Nuance
SCIENCE Market Research
Operations
Analytics
Tracking & Measurement
Successful Marketing Blends:
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The goal is to turn data into information and information into insight.
Carly FiorinaFormer CEO, HP
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Statistics Provide an actionable starting point
for marketing efforts
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Statistics are like bikinis.What they reveal is suggestive.What they conceal is vital.
Aaron LevensteinProfessor Emeritus of Business, Baruch College
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89.99% Correlation
Per Capita Consumption of Chicken and Total US Crude Oil Imports
Crudeoilim
ports
Chickenconsumed
Percapitaconsumptionofchickencorrelateswith
TotalUScrudeoilimports
Crudeoilimports Chickenconsumed
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
3.2Bbarrels
3.4Bbarrels
3.6Bbarrels
3.8Bbarrels
60lbs
50lbs
55lbs
65lbs
tylervigen.com
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Marg
arin
ec
onsum
ed
Div
orc
er
ate
inM
ain
e
DivorcerateinMainecorrelateswith
Percapitaconsumptionofmargarine
Margarineconsumed DivorcerateinMaine
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
2lbs
4lbs
6lbs
8lbs
3.96per1,000
4.29per1,000
4.62per1,000
4.95per1,000
tylervigen.com
99.26% Correlation
Divorce Rate in Maine and Per Capita Consumption of Margarine
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NicholasCage
Swim
mingpooldrownings
Numberofpeoplewhodrownedbyfallingintoapoolcorrelateswith
FilmsNicolasCageappearedin
NicholasCage Swimmingpooldrownings
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
0films
2films
4films
6films
80drownings
100drownings
120drownings
140drownings
tylervigen.com
66.6% Correlation
People Who Drowned by Falling Into a Pool and Nicolas Cage Films
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Anatomy of a Business decision maker
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Calculating Success Formulas for planning and developing
marketing strategies and tactics
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KPIs Key Performance Indicators
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KPI Examples• Website Quality Metrics: Unique Visits, Visit Duration, Avg.
Pages Visited, Completed Goals, Bounce Rate
• Social Media Engagement: Likes, Clicks, Comments, Shares, Mentions or Tags
• Email Performance: Open Rate, Click-Through Rate, Unsubscribes, Forwards
• Marketing Channel Ratio/Mix: Traffic Volume, Number of Leads (Web, Phone, Walk-In) Per Source
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Marketing ROI Profit − Cost To Market
Cost To Market
Calculate ROI based on gross profit for the products/services you are selling, not simply revenue.
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Cre
dit:
http
s://
visu
al.ly
/wha
ts-r
oi-y
our-
mom
The ROI of Your Mom
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Cost per Acquisition Total Sales − Total Marketing Costs
Number of New Customers
Look at each individual marketing channel to see the direct costs of acquiring a customer
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Lifetime Value Avg. Total Revenue of a Repeat Customer
(Avg. Sale Value) x (# of Repeat Sales) x (Avg. Retention Time)
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Cre
dit:
http
s://
blog
.kis
smet
rics.
com
/how
-to-
calc
ulat
e-lif
etim
e-va
lue
Starbucks Customer LTV
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Cre
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http
s://
blog
.kis
smet
rics.
com
/how
-to-
calc
ulat
e-lif
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e-va
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Starbucks Customer LTV
#HighRockStudios
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Cre
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http
s://
blog
.kis
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rics.
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/how
-to-
calc
ulat
e-lif
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Starbucks Customer LTV
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Measurement Tools and resources for measuring success
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Google Analytics• Acquisition – How visitors get to the website
• Behavior – What visitors do on the website
• Conversions – Why visitors become customers (or complete tasks)
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Google Analytics
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Google Analytics
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Google Analytics
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• Engagement Actions – Likes, Comments, Shares, Posts, Clicks
• People – Demographics, Personal Info, Location, Active Times
• Posts – When Your Fans Are Online, Success of Post Types, Top Posts from Competitor Pages
Facebook Insights
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Facebook Insights
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Facebook Insights• Objectives
- Post 2-3x per week - Increase brand awareness and engagement with influencers, partners and
consumers - Promote new products, product demos, customer tools & resources, and
upcoming events (tradeshows, REHAU classes)
• Key Metrics to Track - Number of Likes, Comments, Shares, Post Clicks and Direct Messages - Number of visitors referred (referrals) to REHAU website - Number of form completions (leads) referred from Facebook
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• Engagement – Look at actions rather than reach
• People – Demographics, Location, etc.
• Posts – Topics, Targeting, Paid Promotions/Sponsorships
Other Insights
Kelsi Waltemire Jason Miller
Measurement ToolKit • Google Analytics – www.google.com/analytics/
• Social Media Analytics (Facebook Insights, LinkedIn, Twitter, Instagram, YouTube, etc.)
• Email Analytics (MailChimp, Constant Contact, Exact Target)
• Google Alerts – www.google.com/alerts
Kelsi Waltemire Jason Miller
Industry Research & Info • Think With Google - www.thinkwithgoogle.com
• Facebook IQ - insights.fb.com
• Google Trends - www.google.com/trends
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Marie Forleo @MarieForleo marieforleo.com
Gary Vaynerchuk @garyvee youtube.com/GaryVaynerchuk
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Questions?
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Jason Miller Email: [email protected]
Phone: 301-791-1221 x113
LinkedIn: www.linkedin.com/in/jpatrickdesign/
Ryan Lampton Email: [email protected]
Phone: 301-791-1221 x101
LinkedIn: www.linkedin.com/in/ryanlampton