Here are 3 SMART goals for my company's online marketing with descriptions and metrics for measuring success:
1. Generate 200 qualified leads per month from our website and social media channels by Q3 2021.
- A qualified lead will be someone who provides their name, email, and at least one other qualifying data point showing purchase intent.
- Success will be measured by tracking the number of qualified leads generated each month from our CRM.
2. Increase average monthly website sessions by 15% by Q1 2022.
- More sessions means increased exposure to our brand and messaging.
- Success will be measured by comparing monthly session data year-over-year in Google Analytics.
3. Achieve a 3
5. Strategic planning, 3
steps
evaluate the
current situation
Situation and how it came
about.
map a
possible route
Path
3 step process to
to the goals/
objectives Strategic Planning
define goals and/or
Target objectives (sometimes
called ideal state)
http://en.wikipedia.org/wiki/Strategic_planning#Methodologies
6. Strategic plan See-Think-Draw
Focus on evolving the present
See what is today's situation?
map a route to
achieving the Draw
Strategic Plan
goals/objectives
See Think Draw
Think define goals/objectives
7. Strategic plan Draw-See-Think
Focus on designing the future
what resources are required to what is the ideal image or
execute the activities? Plan Draw the desired end state?
Strategic plan
Draw-See-Think
what specific actions must
be taken to close the gap what is today's situation? What is
between today's situation Think See the gap from ideal and why?
and the ideal state?
8. Strategic Plan - Process
."
Vision
Define the vision and set a mission
Measur
statement with hierarchy of goals and
objectives
Discove
e Control
."
SWOT ."
r
Monitor and get feedback from Analysis conducted according to the
implemented processes to fully control the desired goals
operation
Implement
Implement Formulate
." ."
Implementation of the agreed upon Formulate actions and processes to be
processes taken to attain these goals
Design
9. But ….
What about the
ENVIRONMENT
the circumstances, objects, or conditions by which one is surrounded
From: http://www.merriam-webster.com/dictionary/environment
10. Why study the environment?
◆ Measurable
◆ Achievable
◆ Realistic
20. Environment: Ecommerce Conversion Rates Statistics
When benchmarking conversion rate, site owners should go beyond headline conversion rates to
compare these four key types of conversion rate:
1. Overall site session (visit) conversion rate
a. as reported in the Coremetrics example
2. Visitor conversion
a. ratecalculated by dividing the number of conversion events by the number of unique
visitors within a defined time period.
3. Shopping basket conversion rate
a. percentage who add item to basket who convert, e.g.
4. Session search conversion rate
a. (percentage of visits which include a search (notice that conversion rate and average
order value (AOV) tends to be higher for these visitors
http://www.marketing-online.co.uk/wiki/Ecommerce_Conversion_Rates_Statistics
23. Situation: Social commerce
Luxury Institute research revealed that, of the customers who shop for high-end merchandise online, 78
percent of them did so in order to find the best price while nearly as many, 77 percent, did so to compare
brands (BrandWeek, January 2010).
http://www.bazaarvoice.com/resources/stats#Conversion
Customer Stories campaign drove 13,000 new prospects for La-Z-Boy. (La-Z-Boy, 2009)
http://www.bazaarvoice.com/resources/case-studies/improve-all-marketing/374-stories-lzb
SANTA MONICA, Calif. (MarketWatch) -- Facebook, MySpace, and YouTube aren't just destinations for
tweens -- wealthy people frequent these sites, too.
24% of wealthy Internet users -- almost one in four -- are joining teens and twenty-somethings on social
networking or "social media" sites such as Facebook and MySpace. Of this group, 69% maintain a
profile on at least one site.
More than half of the wealthy Internet users surveyed, or 52%, read blog postings -- and they're
commenting on them, too, according to HNW's Wealth and New Media study. In fact, 20% of respondents
say they've commented on a blog and almost one-in-five of these do so daily or weekly
More than one-third of Web surfers aged 44 to 54 said they visit a social networking site, and 19% of those
55 and older said they do. The highest percentage is among those aged 18 to 44, of whom 50% said they
visit such sites.
Yet 72% of wealthy Web surfers aged 45 to 54 said they read blogs, compared with 69% of those aged
18 to 44 who said they do.
According to the 2007 Pew Internet & American Life Project Survey, 95% of those with an annual income of
$100,000 or more use the Internet. In fact, not only are high-net-worth consumers online, their mastery of
new media goes well beyond email.
For example, about half of wealthy people aged 45 to 64 use instant messaging, and 21% of those 65
and above IM. The biggest segment, 70%, of IM use is by those 18 to 44, but the numbers show that
people across the board are more tech savvy than previously imagined.
By comparison, 50% of teenagers ages 13 to 18 use instant messaging services, according to an
Associated Press-AOL poll.
Wealthy people tap social networking sites, comment on blogs Sophisticated Investor - MarketWatch
24.
25. Customer value
Agrawal et al. (2001) have performed a further analysis where they modeled the theoretical change in net
present value contributed by an e-commerce site in response to a 10% change in these performance drivers:
1. Attraction
a. Visitor acquisition cost – 0.74 % change in NPV
b. Visitor growth – 3.09 % change in NPV
2. Conversion
a. Customer conversion rate – 0.84 % change in NPV
b. Revenue per customer – 2.32 % change in NPV
3. Retention
a. Cost of repeat customer – 0.69 % change in NPV
b. Revenue per repeat customer – 5.78 % change in NPV
c. Repeat customer churn rate – 6.65 % change in NPV
d. Repeat customer conversion rate – 9.49 % change in NPV
This modeling highlights the importance of on-site
marketing communications and the quality of
service delivery in converting browsers to buyers and
buyers into repeat buyers.
http://www.marketing-insights.co.uk/wnim0502.htm
26. Target: Consum - Author FCLconsumauthors
http://www.futureconceptlab.com/
Consum-Authors
Future Concept Lab, February 2010
1. Posh Tweens (8-12 years):
2. Expo Teens (12-20 Years):
3. Linker People (20-35 years):
4. Unique Sons (20-35 years):
5. Sense Girl (25-40 years):
6. Mind Builders (25-50 years):
www.c4e.es/docs/FCLconsumauthors.pps
28. Company Company
Target goal
Disintermediation (sell-direct)
Create new online intermediary
(countermediation) the evaluation and selection of
Channel structure modifications. Target market strategies appropriate segments and the
Partner with new online or existing development of appropriate offers.
intermediaries
Do-nothing!
Positioning and Define online customer value proposition
differentiation strategies. (OVP).
how should internal structures be
changed to deliver e-marketing
Organisational restructuring required. ONLINE
how should the structure of links with other GOALS
organisations be changed to achieve e-
marketing objectives
Internet will primarily complement the
Resourcing - Internet company’s other channels or primarily
marketing priorities replace other channels
sell more existing products
into existing markets Market penetration
Attraction
sell into new market Market development
Market and product the balance on investment on customer
development CRM focus and financial control Conversion
digital products or services acquisition and retention
can be developed that can be Product development strategies
delivered by the Internet. Retention
new products are developed which
are sold into new markets Diversification
http://www.marketing-insights.co.uk/wnim0502.htm
29. 5 key goals of Online Marketing
1. Objective Sell
a. Define objectives for selling to the customer online
2. Objective Serve
a. Define objectives for serving the customer online
3. Objective Speak
a. Define objectives for speaking to the customer online
4. Objective Save
a. Define objectives for saving online
5. Objective Sizzle
a. Define objectives for enhancing the brand online
http://www.davechaffey.com/E-marketing/c1-introduction-to-e-marketing
30. Top 10 Online Marketing Goals for B2B Marketers
1. Improve Number of Leads -
a. bottom line is lead generation and improving ROI.
2. Improve the Quality of Online Leads -
a. better leads can mean quicker and potentially more sales.
3. Improve the Overall Online Experience -
a. keep your users' needs first and foremost to help build lifetime value and relationship. Improving the
online experience will help improve repeat visits and help generate top of mind awareness.
4. Improve the Engagement Rate -
a. engaging the user with proper use of conversion triggers and calls to action can help increase the
number of leads that are generated.
5. Move Prospects Through the Buying Process/Funnel -
a. A key goal for B2B marketers should be to help solve the needs of their prospects by providing them with
all of the information they need to make a purchase decision as they work through the buying funnel.
6. Increase the Number of Qualified Visitors to your sites -
a. increasing the number of qualified visitors to your site means a greater chance for obtaining more
qualified leads.
7. Reduce Cost of Leads -
a. an effective online strategy can help reduce the cost of each lead that is generated.
8. Increase Online Inquiries -
a. one of the more important conversions that B2B marketers should focus on is to increase online inquiries
that have the potential to become qualified leads. Depending on the phase of the buying funnel the user
is at, you can use your online marketing strategy to intercept the prospect and increase the number of
email requests or phone calls for additional information inqueries that the user may have.
9. Promote Offline Sales -
a. use online to drive offline business. The majority of actual B2B transactions will take place offline.
10. Deliver Customer Service and Value to Your Target Market(s) -
a. rounding out the top 10 online marketing goals for B2B marketers is delivering value to your site visitors.
No explanation is needed as providing customer interception points and delivering effective customer
service online can provide positive results offline.
http://www.marketing-jive.com/2007/06/online-marketing-goals-top-10-online.html
31. Other
Resources
1. Internet Stats
a. http://royal.pingdom.com/2010/01/22/internet-2009-in-numbers/
i. http://www.internetworldstats.com/stats.htm
2. Collections
a. http://www.rba.co.uk/sources/stats.htm
Luxury Online marketing Short
http://www.slideshare.net/IC_Agency/the-
essentials-of-luxury-digital-marketing
luxuryfuturesgerdleonhardlondonmar
ch172009public-090317115310-
Gerd Leonhard - Luxury Future
phpapp02 http://www.mediafuturist.com/
http://www.slideshare.net/gleonhard/luxury-futures-the-
future-of-the-luxury-market-gerd-leonhard-luxury-
interactive-london-march-17-2009
Tutorial - Marketing
Plan
http://www.thewritemarket.com/marketing/index.php?
marketing=business-plan&title=How%20to%20Write%20a
%20Marketing%20Plan
32. Homework - Lesson 3
1. Define which goals are the one of you company
2. For each one write a little description scoping the goal
3. For each one define how you will measure the success