Data Driven Digital Marketing Strategies

Author: Luke Szkudlarek, Digital Strategy @ what.digital14th October 2015

Analytics Roundtable Zurich

#AnalyticsRoundtable

About what.digital

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- UX Design + Digital Marketing + Web Development Company

- Experienced, 14 days old

- Based in Zurich, UK, Poland

- More at www.what.digital

- Connect on LinkedIn: linkd.in/LukeSz

Agenda

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- Quick intro

- Case Study One - Reverse engineering of a client brief

- Case study Two - New product launch for an international bank

- Summary of Recommendations

- Your homework

- Drinks

Disclaimer & Mindset for this evening

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- No data driven digital strategies (focus on approach)

- Let's assume there is room for improvement

- Ask questions & challenge

- Presentation will be updated & made available

- Simplified - we only have 30 min

No useless charts or frameworks

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Distance yourself from high-level frameworks

Digital Marketing EcosystemWho’s in the room?

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Agencies / Suppliers

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Marketers

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Analysts / Tech

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Business

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Other

1

Digital Marketing EcosystemIntroducing key players

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Agencies Digital experts, want to sell you

moreMarketeers

In control of the budget

allocation, mostly non-

technical, rely on agencies

Analysts / TechControl the

implementation of tracking &

reporting platform

Business Budget owners,

Mostly disconnected from digital,

understand $$$

Digital Marketing Strategy Typical client brief (EXAMPLE DATA)

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The brief

- Known medium size retail brand,

- E-commerce site being developed

- 2015 E-commerce sales YTD CHF 75k

- Target to double conversion rate (from 0.5%)

- 2016 revenue target CHF 500k

- Channels required: PPC, SEO, social (i.e. everything)

Realistic?

Q&A

- Marketing budget? - we won’t tell you!

- Data access

Digital Marketing Strategy Reverse engineering - What we know

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2015 2016

Revenue 75,000 500,000

Conversion rate 0.50% 1%

What’s missing?

Digital Marketing Strategy Reverse engineering - What’s missing?

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Budget

Channel Mix

Whats Campaign Concept

Hows

Digital Marketing Strategy A few words about the concept

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Monetisation model + Innovative Concept = Business ($$$)

Typically marketers & creatives

Who does it in your organisation?

Digital Marketing Strategy What does Google Analytics tells us?

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2015 2016Revenue 75,000 500,000

Conversion rate 0.50% 1%

Average Order Value 120 120

Transactions 625 4’167

Visits 125’000 416’667

Digital Marketing Strategy Where did 125’000 visits come from

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Traffic sources VisitsOrganic Search 62,500

Direct 43,750

PPC 12,500

Social (organic) 6,250

125’000

Digital Marketing Strategy Where will 416’667 visits come from in 2016

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Traffic sources 2015Visits

2016Visits

Organic Search 62,500 70’000

Direct 43,750 50’000

PPC 12,500

Social (organic) 6,250 10’000

125’000 416’667

Hows

content marketing

TV

greater investment

organic growth

286’667

Digital Marketing Strategy Complete picture

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2015 2016Revenue 75,000 500,000

Conversion rate 0.50% 1%

Average Order Value 120 120

Transactions 625 4’167

Visits 125’000 416’667

PPC Visits 12’500 286’667

CPC ? 0.76

Budget ? 217’867

Digital Marketing Strategy Incremental value

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2016 Revenue 500,000

Media Cost 217’867

Agency Fees 50’000

Incremental value 232’133

Other costs ?

Profit ?

Digital Marketing Strategy Asking the right questions

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- How are we going to increase conversion rate from 0.5% to 1%, whilst

increasing the volume of transactions and maintain CPC of 0.76 CHF?

- Can we improve user journey to achieve higher conversion rate?

- Should we consider other online advertising channels?

- How can we integrate our email activity?

Digital Marketing Strategy Best practice / recommendations

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- Write your brief in plain English with data-driven insights

- Create a concept with monetisation plan and project the future results (even if wrong!)

- Plan for each channel separately, but create an overview

- Create an implementation roadmap

- Launch, optimise and iterate regularly (follow your roadmap)

Digital Marketing Strategy Launch of a new bank account in Africa

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- New bank account for African residents with international banking needs

- Targeting selected African countries

- Lead generation campaign to reach 1’000 new customers in 3 months

- Budget: approx. CHF 150k

- Digital assets: microsite, main website

Sample Data

Digital Marketing Strategy Q&A - Understanding User Journey

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- Users search or browse websites

- Users land on the Optimum product page (microsite)

- Users learn & explore the benefits of the product

- Users complete the lead capture form

- Sales agent calls within 24hrs

- Prospect receives the paper based application form

- Prospect sends back the application form

- Account gets opened

- Account gets funded by customer

What measures come to mind?

Digital Marketing Strategy Planning - User Journey Mapping - New to bank

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Step Metric Intent Next step

Ad impression CTR Research Landing page visit

Ad click CPC Research Lead form complete

Lead form complete Lead More informationCallback /

Application send

Application received Account pending Account open Funding

etc.

Digital Marketing Strategy Planning - Relevant Channels

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- PPC

- Display sites (direct CPM buy)

- GDN

- YouTube

- Facebook

- SEO?

- Direct entry / referrals

Digital Marketing Strategy Planning - Performance PPC

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Metric Month 1 Month 2 Month 3 Total

Budget 16,000 20,200 23,500 59,700

CPC 0.79 0.76 0.73 0.75

Visits 20,156 26,623 32,360 79,139

Conversion Rate 2.68% 3.17% 3.64% 3.23%

Leads 539 843 1,177 2,559

Digital Marketing Strategy Planning - Performance (All Channels)

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Metric Month 1 Month 2 Month 3 TotalBudget 30,000 40,000 50,000 120,000

Visits 35,294 53,333 71,429 160,056

CPC 0.85 0.75 0.7 0.75

Conversion Rate (Click to Lead) 2.50% 2.50% 2.75% 2.61%

Leads 882 1,333 1,964 4,180

Cost Per Lead 34 30 25 29

Conversion Rate (Lead to A/c) 20% 25% 25% 23.94%

Accounts Opened 176 333 491 1001

Confidential - do not copy, forward or otherwise make accessible to third parties. 25

Oct Nov Dec Jan

User acquisition starts

- Baseline report- Media planning - Microsite design & development- Creative development- PPC & Facebook ads start

- Monthly insights & media reallocation- A/B test - Master creative wins- Landing page improvements- SEO improvements, content creation- Remarketing activation- Challenger creative development

- Monthly insights & improvements- Further campaign & microsite improvements- SEO improvements, content creation- e.g. PPC / Facebook media reallocation (TBC) - Landing page improvements- A/B test - Master creative wins

User journey workshop

Digital Marketing Strategy Planning - Roadmap

Customer acquisition starts

Digital Marketing Strategy Planning - Concept

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- Assumptions re brand awareness, product & offer

- Mobile first & UX led approach

- A/B testing of creatives

- Simplicity of the lead capture process

- All important data touch-points captured

Digital Marketing Strategy Results

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- Generated more leads than necessary (CPL lower than expected)

- Resourcing issues led to account opening issues

- Led to process & full website redesign

- Product insights & New product development

Digital Marketing EcosystemSummary

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Agencies Measure with real $$$, think of the entire user journey

Marketeers Be more hands-on, focus on real

insights with Analysts, stop

relying on agency reports

Analysts / TechData

interpretation, scrutinise /

audit agencies

Business Use your data,

support the user journey

development & monetisation

Five Key Takeaways

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1. Practice the workflow - from the brief to implementation, do this for your own site

2. Types of sites - understand various website types & business models (i.e. lead

generation, e-commerce, content sites)

3. Online marketing channels - understand the mechanics of each channel

4. Data sources - understanding the role of tools & their place, when & how to use data

5. Experiment - break the rules, test & learn on a small budget, gain insights

Thank You

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what.Sihlquai 1318005 ZurichSwitzerlandinfo@what.digitalwww.what.digital

What. about giving your digital marketing

strategy more substance?