This website uses cookies to ensure you have the best experience. Learn more

Digital Marketing Essay

2478 words - 10 pages

HOW TO DEVELOP A
MEASUREMENT FRAMEWORK
THAT DELIVERS BUSINESS INTELLIGENCE

A SIMPLE STEP BY STEP GUIDE
TO BUILDING REPORTS THAT
ACTUALLY ALLOW BUSINESSES
TO MAKE ACTIONABLE INSIGHTS

PAGE 1

INTRODUCTION
HOW OFTEN HAVE YOU LOOKED FOR REPORTING AND ANALYTICS TO GET BUSINESS
INTELLIGENCE AND HAVE END UP WITH MOUNDS OF DATA ON EXCEL SPREADSHEETS?
MORE OFTEN THAN NOT, YOU FIND YOURSELF WITH AN ENDLESS SUPPLY OF REPORTS BUT
ARE STILL UNABLE TO GET ANSWERS TO YOUR MOST CRITICAL BUSINESS QUESTIONS?

DON’T WORRY – YOU’RE NOT ALONE.
Many companies are faced with the same
exact issues that you are. It’s very likely
these companies have one or more of
the following foundational ...view middle of the document...

This is great for keeping report developers
busy, but it is terrible for driving the business
forward based on actionable insights.

This process will help to provide structure to
actual answer your business questions. Using
this framework as a base, you will have the
ability to get actionable insights from your data.

PAGE 2

01

IDENTIFY BUSINESS OBJECTIVES
THE FOUNDATION OF GREAT REPORTING IS BUILT THROUGH FIRST
ASKING THE FOLLOWING QUESTION –

WHAT BUSINESS GOALS ARE WE TRYING TO
ACHIEVE?

24%

It sounds really simple, but this question is often overlooked and
left unanswered. By asking this basic question upfront, you can
better define the objectives and scope upon which the reporting
will be built.

OF BUSINESSES
SAY DETERMINING
ANY KIND OF COSTBENEFIT ANALYSIS
IS A CHALLENGE.

LET’S LOOK AT AN EXAMPLE
of a company looking to measure the
effectiveness of its promotional efforts.
Let’s assume that for our fictitious company,
promotional materials are sent to existing
customers and prospects. Through conversations with project
stakeholders, we find that the main goals of promotions are:

(source: McKinsey)

1. Customer Acquisition (prospects)
2. Cross-Sell / Up-Sell (existing customers)
3. Loyalty Program Registrations (prospects and existing customers)

CUSTOMER TYPE
BUSINESS
OBJECTIVE

PROSPECTS
CUSTOMER
ACQUISITION

EXISTING CUSTOMERS

LOYALTY
PROGRAM
REGISTRATIONS

WE NOW KNOW that we are trying to reach

CROSS-SELL /
UP-SELL

LOYALTY
PROGRAM
REGISTRATIONS

the scope of our measurement framework.

two customer segments and drive three

Just as importantly, we can also define

main outcomes through our promotions.

what is out of scope and disregard

By taking the time to ask some baseline

metrics that do not tie back to these

questions and show the objective from

main objectives. Finally, we can start

a business context, we can better define

to organize the foundation of our reporting.

PAGE 3

02

DETERMINE KPIs
AFTER THE MAIN BUSINESS OBJECTIVES ARE DEFINED, WE NEED TO DETERMINE HOW TO
MEASURE SUCCESS FOR EACH OBJECTIVE BY DEFINING KEY PERFORMANCE INDICATORS, OR KPIS,
FOR EACH ONE. A KPI IS THE MOST IMPORTANT METRIC TO MEASURE FOR EACH OBJECTIVE. AS
REPORTS ARE BUILT, THESE WILL BE THE PRIMARY METRICS THAT SENIOR LEADERSHIP SHOULD
ASK FOR AND THE ULTIMATE MEASURES THAT PROGRESS SHOULD BE MEASURED AGAINST.
Now, I’m going to ask you to
do something hard. I’d like
you to identify the main KPIs
for each business objective.
This should not be a long list.
Instead, it should consist of the
1 OR 2 MAIN METRICS FOR EACH OBJECTIVE
THAT WILL DEFINE SUCCESS. To determine
your KPIs, you should inventory all of the metrics
available within your data, as well as other metrics
you may be able to derive or get externally.

the effectiveness of each business objective. This
may require several internal conversations with
...

Other Papers Like Digital Marketing

Direct & Digital Marketing Strategy at Virgin Atlantic

2681 words - 11 pages environment of the organisation. The tool involves analysis of the Political, Economical, Social, Technical, Environmental and Legal factors that will or may have an impact on the environment the organisation operates within. Since the aim with this assignment is to develop a digital marketing strategy for Virgin Atlantic, the PESTEL analysis will primarily involve the factors that need to be considered when constructing a digital marketing strategy

Digital Marketing Campaign Essay

1117 words - 5 pages benefit of the Institute’s facilities and expertise. ni-msme’s activities are changing from time to time to meet the needs of enterprises in the context of globalisation. Training Programme on MARKETING STRATEGIES FOR SHG PRODUCTS IN THE MODERN ERA (16-18 March 2016) Located in a sprawling and enthralling campus amidst a rich natural setting, ni-msme is well equipped with both physical and academic infrastructure. In keeping with the

Marketing

677 words - 3 pages Digital Technology: Its Impact to marketing strategies Digital marketing is no longer about merely adding online channels to the media mix; it is about integrating digital into all facets of marketing. Our global expertise—we have more than 50 dedicated digital marketing experts in more than 30 locations—across digital analytics, market research, technology, business design, and online strategy helps clients bring the full potential of digital

Business Research

2266 words - 10 pages Research Idea: The use of Digital Marketing instruments to carry out the marketing of the Al Alameih Worldwide. Introduction With the planning of the expansion of the company, the major thing that comes into the mind is developing various marketing strategies. It is only through proper marketing the company can gain proper response and also it will be able to spread its popularity to the other parts of the world. Al Alemiah adopted

Traditional Market vs Digital Market

594 words - 3 pages In my previous post on traditional vs digital marketing for professional services firms, we identified two distinct models for developing new business. In the traditional approach you meet people, often through referrals or networking, and develop a relationship. As people come to trust you, typically through repeated interactions over time, you are in a position to do work for them. In the digital marketing model, people find you, typically

Marketing Mix, Case Study

669 words - 3 pages Direct Marketing 2002 10 Online Communications Interactive TV - Trend Analysis Projection 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% Sky Digital Cable Digital ITV Digital Total Digital 2000 2001 © The Institute of Direct Marketing 2002 11 © The Institute of Direct Marketing 2002 12 2 Interactive TV Channel Research identifies this channel as the preferred interactive device in the home, now and in the future iTV

Southwest Airlines

1392 words - 6 pages THE NEAR AND FAR OF PROXIMITY MARKETING: THE FUTURE OF MARKETING EXISTS AT THE NEXUS OF DIGITAL SIGNAGE AND MOBILITY Alex
Romanov
 INTRODUCTION
 
 When
historians
look
back
on
this
commercial
and
 cultural
 period,
 they
 will
 likely
 describe
 it
 as
 a
 time
 when
 the
 barriers
 between
 the
 physical
 and
 digital
 experience
 began
 to
 erode.
 One
 of
 the
 hallmarks
 of
 this
 period
 will
 be
 the
 blurring
 of
 the
 lines
 between

Termpaper

879 words - 4 pages part of strategic marketing decision making. This emphasis on marketing accountability is addressed throughout the fourteenth edition. 4. Harnessing new marketing technologies. New digital and other high-tech marketing developments are dramatically changing how consumers and marketers relate to one another. The fourteenth edition thoroughly explores the new technologies impacting marketing, from “Web 3.0” in Chapter 1 to new digital marketing

Space vs Place

1059 words - 5 pages Space vs. Place BUS620: Managerial Marketing Instructor: Pamela Gordon Michael McIntyre Feb. 20th 2012 In this new economy and web-savvy age that we are living in, companies must be able to have not just a physical place for the organization but a digital space for it as well to compete with their online competitors and to shift themselves into the global market that is accessible

E-Marketing

901 words - 4 pages perusahaan. Dalam Bab 5 kita memperkenalkan penggunaan analisis SWOT untuk saluran digital sebuah organisasi. SWOT dapat digunakan untuk merangkum berbagai analisis yang dibahas dalam bagian situation analysis ini . Gambar 8.6 memberikan contoh SWOT Internet . [pic] IV. Objective Setting E-marketing planning yang efektif didasarkan pada tujuan jelas karena ini akan

Marketing Strategy

1453 words - 6 pages Motorola’s Strategy for Entering China 1-Develop a general introduction to the case by writing a referenced (APA format) discussion with at least 4 references, that discusses either the telecommunications industry or trends in the digital marketplace. Digital marketing can be defined as “the marketing of products or services using digital channels to reach consumers. The key objective is to promote brands through various forms of digital

Related Essays

Digital Marketing Essay

5838 words - 24 pages 7.3 Marketing mix elements………………………………..11-14 6.10 Product…………………………………………………….11 6.11 Price………………………………………………………..12 6.12 Place……………………………………………………….12-13 6.13 Promotion………………………………………………….13 6.14 People, process…………………………………………..13-14 7.0 E-customer Relationship Management……………………..14-16 8.0 Using Digital Media Channels…………………………………16-17 9.0 Evaluation & improvement……………………………………18 10.0 Budgeting…………………………………………………………19 11.0

Digital Marketing Campaign Strategy Of Fanta

2293 words - 10 pages Digital marketing campaign Strategy of Fanta Digital marketing campaign Strategy of Fanta FANTA Jags Team: John Devery, Andrew Ambat, Glenn Power, Shane Moloney Digital & Social Media Marketing and Sales Joe Wilde By Jags Team: John Devery, Andrew Ambat, Glenn Power, Shane Moloney Digital & Social Media Marketing and Sales Joe Wilde By TABLE OF content Introduction 2 History of Fanta 2 List of Main

Impact Of Digital Technology On Marketing Strategies

2823 words - 12 pages Impact of Digital Technology on Marketing Strategies Consumer Behavior MKT 625 October 11, 2011 Impact of Digital Technology on Marketing Strategies For companies, large and small alike, the term “keep up or get left behind” is an absolutely relevant one. In this fairly new era of constantly growing and evolving technologies, it is crucial that marketing departments adjust their strategies in order to incorporate an effective

Twitter Emerges As A Digital Marketing Tool

1615 words - 7 pages Week Four Case Analysis: Twitter Emerges as a Digital Marketing Tool MRKT 5000 Online Course Julia Huelsmann Twitter Emerges as a Digital Marketing Tool Case Summary: According to Twitter’s website, ‘Twitter is an information network that brings people closer to what’s important to them”. The company was started by Biz Stone and Evan Williams . The idea behind the business was to create podcasts, but very quickly it turned into