Customer Service and Digital Metrics

In today’s digital market, marketers need to be able to understand how to quantify the campaigns that they run on the social and interactive mediums. At emagine, we make a distinction between internet advertising and interactive marketing.

Internet advertising comprises of banner advertisements, Google AdWords and any other forms of display advertising that are used to promote a product or business. Interactive marketing includes any medium or platform that encourages engagement with the end user about the product, services or business in an effort to solve their questions, concerns and address their complaints. Interactive marketing is primarily about brand building and relationship development, not sales. This is an important distinction to understand for marketers. Continue Reading

Understanding & Segmenting Customers – Part II

This is the second lecture in the customer segmentation series Our next lecture will be on Customer Lifetime Value calculation and the impact that it has on our marketing activities. Please bring your brains and a calculator so that you can work the math and understand how it all works.

Additionally, you will notice in the presentation that there are some slides that I did not cover. The slides relate to market segmentation, which I am assuming that you have done in your marketing and consumer behavior courses. Continue Reading

Customer Lifetime Value

In the lecture, we covered a number of things including 2 new metrics – customer profitability and customer lifetime value. There are also some additional slides related to value-based marketing and what a high-value customer are. While I would like to cover these in class, we don’t have enough class periods left for me to go into the detail that I would like to, so please go through the slides and post your questions here so that I can clarify these concepts for you. Continue Reading

Financial Metrics

In this lecture, we wrap up the difficult metrics. Throughout this course, we have been discussing the impact of supporting our marketing activities with real numbers that can be understood and grasped by top management and executives in the organization. These metrics are the key to the finance and operational teams as they define how effective financially the campaign or marketing activity were on the bottom-line. Continue Reading

Understanding and Segmenting Your Customer – Part I

Every marketer knows that half the battle of getting the message on target is getting the customer profile right…. 0r do they?

In the modern age of marketing, too many marketers build very general profiles for their target markets in the hope that they will get a higher return on their marketing message. Sadly, this is not the case and most messages end up being wasted on people that are either not able to afford the offering or not interested in it at all. When your marketing is untargeted, you may as well just light your marketing budget on fire because it has the same result.

In the next two presentations, we will help you to understand your customers and learn how to properly profile and segment them so that your marketing message and activities deliver results for the brand, both in the mind and at the bottomline. In the this presentation, we will discuss the different types of customers and their characteristics, along with building an understanding of how to segment our market for more effective results. In the second lecture, we will learn how to build a proper customer profile based on demographics, psychographics, habits, interests and behaviors. These are both a lead up to the Customer Lifetime Value discussion that will be the third presentation of the series. Continue Reading

The First 10 Metrics – Part III

This is the last presentation in the First 10 Metrics series. In the past two presentations, we laid out the basis for why we using analytic marketing to quantify our marketing activities. Additionally, we covered a number of metrics that will help you with the non-financial metrics that help us understand the effect to brand, awareness and other items.

With this presentation, we start moving towards the financial metrics, which will be covered in the following weeks. In this presentation, we cover take rates, acquisition costs, demand generation marketing and the marketing scorecard. Each of these help you to understand that success of the marketing campaigns for costs and returns.

In the next presentation, we will delve into understanding the customer over a series of 2 presentations, which will move into the discussion about calculating Customer Lifetime Value.

If you have any comments or queries, please post them below.

The First 10 Metrics – Part II

In the first presentation, we talked about the metrics that we use to quantify your brand awareness, brand equity, “test drive” and its relation to intention to purchase, and churn rates. In this presentation, we will go deeper into the metrics discussion covering churn rate more effectively, understanding customer satisfaction numbers and introducing the behavioral impact model. As with previous discussions, we have provided a some examples to help you grasp the concepts better.

We will be covering the non-financial metrics again in next week’s presentation, as these are key to the analysis that marketers must learn when it comes to quantifying their performance and the campaign results. As we saw in the recent study conducted by Fournaise, 73% of CEOs don’t trust marketers because we are unable to quantify our activities and performance in terms that are important to them, including revenue, sales and EBIT. These presentations will help you to start using these metrics to improve your position and reporting to senior management. Continue Reading

The First 10 Metrics – Part I

Now that we have built the foundation for analytic marketing, it’s time that we start talking about the metrics that we need to understand to quantify and qualify our marketing performance. As I have said in earlier lectures, marketing has long been considered a “fuzzy science,” but when we are able to quantify our performance, we are able to take it out of the fuzzy and bring it into real numbers that are used to judge our success.

This is the first of a three-part lecture series that covers the first 5 metrics (and a few sub-metrics) that will quantify your brand awareness, brand equity, “test drive” and its relation to intention to purchase, and churn rates. We will also introduce you to the modern purchasing funnel which will help you to understand better the decision-making process for buyer influence. Each metric is supported with mathematics and examples from different industries to enhance your knowledge. Continue Reading

5 Obstacles to Marketing Intelligence – Part II

Moving forward from the previous presentation, we look at the remaining reasons that professionals give for not implementing an analytical marketing, or marketing intelligent, framework.

This presentation covers how to better use data, especially for B2B companies, building the infrastructure to support an analytical marketing process, and creating an analytical culture within your marketing department. We give numerous tips, tricks and examples to help you understand how to overcome the “standard” reservations that executives have when it comes to change, all to help you move smoothly and easily into a more rich, efficient and high performance marketing environment. Continue Reading

5 Obstacles to Marketing Intelligence – Part I

When we talk about marketing intelligence, or analytic marketing, we find organizations and marketers have a number of “reasons” for why they should not add it within their corporate culture. The most common is that it will limit creativity, which is completely untrue. Analytics have nothing to do with creative; instead they improve the process and decision-making in delivering marketing activities to the potential customer in a more effective and efficient way.

This is the first of a two-part presentation that highlights and shows you how to overcome the common barriers and obstacles that most forward thinking marketers face when looking to add an analytic marketing process in their organizations. In this presentation, we go through the gambit of arguments ranging from not knowing how to corporate culture not accepting the change giving you a clear understanding of how to overcome and prove that the process not only works, but adds value to the organization. Continue Reading