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Evaluating Your Multi-channel Marketing Investments

Evaluating Your Multi-channel Marketing Investments. ECMOD London, Oct 6-7 th , 2010 Terry Jukes - President B2B Direct Marketing Intelligence, LLC. www.b2bdmi.com. We Are “Conductors”!. Most B2B marketers today are “conductors” of their multi-channel “orchestra”.

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Evaluating Your Multi-channel Marketing Investments

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  1. Evaluating Your Multi-channel Marketing Investments ECMOD London, Oct 6-7th, 2010 Terry Jukes - President B2B Direct Marketing Intelligence, LLC. www.b2bdmi.com

  2. We Are “Conductors”! • Most B2B marketers today are “conductors” of their multi-channel “orchestra”. • “Conducting” has become increasingly complicated with many “new instruments”. • Historically, spending on outbound telesales has steadily grown. • Recently online marketing expenditures have skyrocketed. ECMOD 2010 www.B2BDMI.com

  3. B2B Marketing Investments WWW • Typical B2B DM’ers invest in…. • Catalog/solo/mailings • Inbound sales & marketing • Outbound sales & marketing • Online • Web presence/online catalog • Paid search • Organic search • Email • Other? @ ECMOD 2010 www.B2BDMI.com

  4. … Plus Other Marketing Investments Offline: • Retail stores? • PR? • Sponsorships? • Distribution deals? • Field sales? • Dealer networks? • Wholesale? Online: 1. Webinars? 2. Podcasts? 3. Online videos? 4. Blogging? 5. Landing pages? 6. “Net gnat” brands? 7. Content ECMOD 2010 www.B2BDMI.com

  5. How do we evaluate our various activities in a way that allows us to constantly adapt and re-balance our investments? ECMOD 2010 www.B2BDMI.com

  6. Where To Begin? • How do you effectively measure all your diverse activity with a common yardstick and effectively allocate your scarce marketing dollars? • How do you move towards “real time, automated, customer driven, interactive, marketing spending”? • Where do you start? ECMOD 2010 www.B2BDMI.com

  7. What are some of the commonly used measurements? ECMOD 2010 www.B2BDMI.com

  8. Common Campaign Measurements • Orders # • Sales $ • Net RRs % • New orders, sales, RRs. • Incremental orders, sales, RRs. • AOV, MOV • Margin $,% • Costs (fixed and variable) • Contribution margin • New site/name acquisition costs. • Repurchase rates • Retention • LTV • Others? ECMOD 2010 www.B2BDMI.com

  9. Mail Measurements: Catalog, Solo Mail • RR, AOV, MOV, LPO, UPO, $/cat, $/page, • Sales first 14 or 21 days…to forecast • Sales by product category • Performance vs. forecast (curve) • Yr/Yr results • Merge/purge results, match back results • Seed measurements-timeliness, quality • Marketing contribution • Others? ECMOD 2010 www.B2BDMI.com

  10. Inbound Phone Measurements • By Dept. • Sales, calls, orders, total talk time, man-hours, payroll, $sales/$payroll, available time/paid time, data collection, up sell, retention, • By Rep: • Sales, calls, orders, UPO, LPO, available time, total talk time, avg talk time, quality (qualitative), data collection, up sell, retention • Product test scores (training) • Others? ECMOD 2010 www.B2BDMI.com

  11. Outbound (Program) Telesales • By Dept. • Net leads, Calls, connects, presentations, talk time, closes, rejects, Sales, AOV, MOV, UPO, LPO, coverage/penetration of file, returns, payroll/overhead to sales, retention/react. • By Rep. • Calls, connects, presentations, talk time, available time, closes, rejects, Sales, AOV, UPO, LPO, performance rank, returns, retention/react, quality. • Other? ECMOD 2010 www.B2BDMI.com

  12. Account Management Sales • By rep: • # accts assigned, Q/Q, Y/Y acct growth/decline and comparison to control, site penetration (share of wallet), product category penetration, sales trends by site, calls, talk time, personalized faxes/emails sent/received, quotes presented, talk time, available talk time, paid time, $/names managed/mailed, AOV, LPO, UPO, personalization/custom order rate, name/site retention/order frequency….and the qualitative measures. • By dept. • All of the above, payroll/overhead to name, site and revenue growth. • Other? ECMOD 2010 www.B2BDMI.com

  13. Website Measurements • Traffic sources, search terms, site rank • Direct entry URL • Proprietary versus non-proprietary search terms • Organic listing or PPC • Links/Affiliates/Email => landing page • Pages opened, viewed, printed, time spent. • New visitors vs. repeat visitors. • Registrations…varying levels. • Total visits, page views, driver of visit? • Abandon shopping carts. • Other? WWW ECMOD 2010 www.B2BDMI.com

  14. Measuring Multi-channel Marketing • For each activity, develop a summary of what you put out (costs, time) compared to what you get back and when/where. • Where you don’t have hard numbers, assign a judgmental value or allocation. • Come to a “bottom line” to be used for comparing and balancing your marketing investments. • Continue to improve and refine your measurement system. • Find ways to make it work versus reasons why it can’t. • Avoid “silo” decision making. ECMOD 2010 www.B2BDMI.com

  15. What Could Another $100K Produce? ECMOD 2010 www.B2BDMI.com

  16. MatchBack PLUS • Is there an opportunity to improve matchback processes? • Capture source data for online orders. • Direct entry (branded)URL • Proprietary or non-proprietary search term • Click on search result or PPC ad. • Capture sales rep code • National acct rep and OBTM rep ECMOD 2010 www.B2BDMI.com

  17. Fractionally Allocate Orders • What marketing activity gets what % of the credit? • Online order, direct entry URL, assigned rep? • Online order, proprietary search, PPC click, no catalog mailed? • Online order, non-proprietary search, catalog mailed? • Online order, non-proprietary search, PPC, competitor’s catalog mailed. • Inbound phone order, OBTM called? • Online order from email campaign? ECMOD 2010 www.B2BDMI.com

  18. Case Study – B2B Catalog Situation: B2B Catalog with inbound, outbound (program and relationship) and online marketing efforts. How were various efforts measured, assessed, rewarded? ECMOD 2010 www.B2BDMI.com

  19. Case Study – B2B Catalog Inbound Sales • Reps given training & quality standards • Comparative performance posted and discussed • Monthly bonuses for top quartile performers • Sales, Gross Margin • AOV • Up-sell = units per order/UPO • Cross-sell = lines per order/LPO • Did not reward calls, call length, time connected, etc. ECMOD 2010 www.B2BDMI.com

  20. Case Study – B2B Catalog Program telemarketing • Dials, talk time, file penetration, presentations coached with guidelines. • Orders, sales and margins rewarded with percentage commission. • Credit given for inbound orders received from customers pitched within 14 days. • No extra credit given for callback (inbound)orders. ECMOD 2010 www.B2BDMI.com

  21. Case Study – B2B Catalog Relationship sales • Approx. 500 assigned accounts with prior year orders/revenue/margin base established. • Annual/quarterly goals set. New account and penetration of existing goals set. • Monthly commission paid on incremental gross margin generated. • All catalog and promotional expenses charged to the rep’s “P&L”. • Ghost territory held for comparison ECMOD 2010 www.B2BDMI.com

  22. Case Study – B2B Catalog Catalog mailings • Source code tracking with quarterly match back analysis. • Catalogs had item pre-fix codes and some had special pricing ($.97) • Direct entry and proprietary search term orders 80% allocated to the mailings. • “White mail” 100% catalog ECMOD 2010 www.B2BDMI.com

  23. Case Study – B2B Catalog Email programs • Triggered • Order, Ship confirmation, Abandon Cart, New customer (name), Account details change, Lapsed customer • Promotional • Consumables continuity • Seasonal products and annual events (i.e. back to school) • New product introductions • Cross-sell offers • Non-seasonal events (i.e. oil spill) • CTRs, conversion, promo products vs. other. @ ECMOD 2010 www.B2BDMI.com

  24. Case Study – B2B Catalog SEM • Non-proprietary search terms captured to order • 80% credit to SEO, 20% site maintenance PPC • Non-proprietary search terms, • Click PPC -80% SEO, 20% PPC • Click organic listing – 100% SEO • Affiliates & Online advertising • 100% to activity WWW ECMOD 2010 www.B2BDMI.com

  25. Thank you!Questions? Terry Jukes - President B2B Direct Marketing Intelligence LLC www.B2BDMI.com

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