Bridging The Gap - Connecting ROI from Marketing to Finance
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Transcript of Bridging The Gap - Connecting ROI from Marketing to Finance
BRIDGING THE GAP
CONNECTING MARKETING ROI WITH FINANCIAL ROI
@garyedgar
MARKETING VS
FINANCE
HOW MARKETERS SEE FINANCE
• Hate spending • Constantly looking for justification • Stick with what works
• It’s always about the ‘bottom line’
HOW FINANCE SEES MARKETERS
• Spend thrifts • Want to do what’s cool – not
necessarily what’s practical
• Creativity can’t be quantified
• It’s all about ‘brand awareness’
HOW DO WE BRIDGE THE GAP?
• How do you connect both areas efforts? • How can you track and deliver metrics that
appease both departments? • How do you get everyone to love one
another?
? SECRET FORMULA
THERE ISN’T ONE
WHAT ARE YOU TRYING TO MEASURE?
• Sales • Customer Satisfaction
• Business Leads • Cost benefits of social customer service • Customer retention • Etc….
MOTIVATIONS
• Finance’s needs • Marketing’s needs • Where does the overlap
exist?
4 WAYS TO START
TRACKING GOALS
1. START ON THE SAME PAGE
• What does success look like?
• Define the related success metrics
• Ensure the proper infrastructure exists
• Formulate a plan a stick to it
• Increase sales leads
• 100 new business leads generated through our website
• Site analytics • Trackable web links • Ad or content tracking data
• Formulate an approach/plan
2. SET MEASURABLE (& REALISTIC) GOALS
• Be specific – vague goals generate vague metrics
• Better goal-setting allows for a more targeted and specific campaign
• More detail will probably cost more money
40% PAGE ENGAGEMENT
15,000 FANS IN FIRST YEAR
33% INCREASE IN PRODUCT SALES
3. TEST AND LEARN
• Start small with a reasonable sample size • Test your hypothesis before trying it on a
larger scale
• Be nimble and be prepared to pivot with your execution
CASE STUDY • Drive retail sales of the Husqvarna Toys at
the Lawnmower Hospital by promoting a an exclusive Facebook. offer
• Offer targeted only to surrounding areas and for a limited time
• Redemption was only available in-store
• Links were tracked for clicks for buying intention
• Redemptions were tracked in store
4. REGROUP AND SHARE
• Deliver an ‘end-of-campaign’ wrap report to review
• Focus on associated metrics and analytics • Ensure report includes key insights, take-
aways and actionable items for follow-up campaigns
COMMON
MISSTEPS OF MEASUREMENT
LET THE NUMBERS WORK FOR YOU
ADD CONTEXT
AVOID DATA PORN
MAKE IT VISUAL
DATA INFORMS INSIGHTS
REVIEW
• Start on the same page • Set measurable (& realistic) goals
• Test and learn • Regroup and share
CONTACT Gary Edgar [email protected] +1 (416) 934-2119