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Lesson 3      Define the goals
2012 Max Ramaciotti       Creative Commons — Attribuzione - Condividi allo stesso modo 3.0
Homework
   YOUR
BENCHMARK
Goal
SMART Goals


 ◆ Specific
 ◆ Measurable
 ◆ Achievable
 ◆ Realistic
 ◆ Time Sensitive
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
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
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?
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
But ….
What about the
ENVIRONMENT
 the circumstances, objects, or conditions by which one is surrounded
 From: http://www.merriam-webster.com/dictionary/environment
Why study the environment?

        ◆ Measurable
        ◆ Achievable
        ◆ Realistic
Royal Pingdom Royal Pingdom- Almost 8 new Internet users added w
4 Infographics About Online Trends, Internet Usage and Social Me
Internet Usage Predictions [infographic] | Daily Infographic
The History Of Internet Usage And Speeds (Infographic) | TechCru
Environment: Online Social
Zeitgeist is a German expression meaning "the spirit of the age".




   Google Zeitgeist 2011
Google Zeitgeist 2011




              Come faccio a utilizzare Google Statistiche di ricerca? - Guida di Statistiche di ricerca
trendwatching.com's 12 Consumer Trends for 2012
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
Situation: Ecommerce Conversion




  http://index.fireclick.com/
Situation: Ecommerce Conversion 2




              IBM 2011 Coremetrics Holiday Benchmark Reports
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
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
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
Target: Online
Consumers




 http://www.mckinsey.com/practices/marketing/ourknowledge/pdf/Solutions_AllVisitorsAreNotCreatedEqual_consumer.pdf
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
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
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
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
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

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SMART Goals and Strategic Planning Process

  • 1. Lesson 3 Define the goals 2012 Max Ramaciotti Creative Commons — Attribuzione - Condividi allo stesso modo 3.0
  • 2. Homework YOUR BENCHMARK
  • 4. SMART Goals ◆ Specific ◆ Measurable ◆ Achievable ◆ Realistic ◆ Time Sensitive
  • 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
  • 11. Royal Pingdom Royal Pingdom- Almost 8 new Internet users added w
  • 12. 4 Infographics About Online Trends, Internet Usage and Social Me
  • 13. Internet Usage Predictions [infographic] | Daily Infographic
  • 14. The History Of Internet Usage And Speeds (Infographic) | TechCru
  • 16.
  • 17. Zeitgeist is a German expression meaning "the spirit of the age". Google Zeitgeist 2011
  • 18. Google Zeitgeist 2011 Come faccio a utilizzare Google Statistiche di ricerca? - Guida di Statistiche di ricerca
  • 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
  • 21. Situation: Ecommerce Conversion http://index.fireclick.com/
  • 22. Situation: Ecommerce Conversion 2 IBM 2011 Coremetrics Holiday Benchmark Reports
  • 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