BarnRaisers



8 surprisingly simple steps to calculate ROI 0

Posted on March 20, 2017 by Rob Petersen

roi

ROI (Return on Investment) is the basis from which informed investment decisions are made.

The ROI formula only requires two numbers; the cost of your venture and the return made from that venture. But there are inputs that go into each. For many, this is where the simple gets complicated. But it doesn’t have to be?

Here are 8 surprisingly simple steps to calculate ROI.

STEP #1: START WITH A BASELINE

roi baseline

Return from a new venture has to first take into account what occurred before. So you have to establish a baseline. In our experience, there are only three baseline scenarios. In Scenario #1,  the venture is just beginning so there is no baseline. There is a clean slate. In Scenario #2, the new venture is trying to change just one area of a company’s operations (e.g. digital, call center, human resources). The baseline in this case is the return in this area from prior period. In scenario #3, the venture involves a change or transformation in the company that likely to impact a number of areas. For example, a business generates revenue through a sales force, call center and website. They are investing in digital operations by upgrading the website, building a mobile app and improving the online selling infrastructure so they can spend less in other areas. In this instance, the baseline is the amount the website generates currently based on a total percent of the company’s operations.

STEP #2: DECIDE IF RETURN IS REVENUE OR PROFITS

roi profit or revenue

Be clear at the outset how you will measure the return in dollars. Is it revenue (sales) or profits? The latter in many cases is the most desirable measure. But it is harder to understand and control. For example, a company produces a food product. Profits requires a knowledge of the cost of goods, shipping and retail allowances. These are often hard to know now and harder to predict in the future. Because revenue has more factor within a company’s control, it is generally easier to forecast. While some insist profits is the way to go, in our experience, revenue is also is a good indication of success and basis for decision making.

STEP #3: DETERMINE THE TIME FRAME

ROI time frame

Before you can determine the return, you have to know how long it is going to take. In most cases, the time frame for ROI is between one and two years. This is due to: 1) Functional activities like the time it takes to create and build new assets (e.g. website, data center and buying infrastructure) and 2) customer uptake for awareness, consideration, trial and repeat purchases. To help understand customer uptake, it helps to know the buying frequency and Annual Customer Value (ACV).

STEP #4: DECIDE INPUTS FOR THE RETURN

roi return

The return is a prediction or forecast of what will occur by the end of the time frame. Use real company data, not norms or averages, unless you want normative or average results. Basics that are usually included in returns are how many new vs repeat customers are expected? What is their Annual Customer Value? If there is a digital component, what are visits and conversions rates to the website? If a company transformation is expected, operating costs in other areas that will decline as new capability are built can be a factor. There can be a few to many input. Confidence in the data means reliability in the return.

STEP #5: IDENTIFY THE INVESTMENTS

roi investments

In some cases, this is self-evident. But not always. Let’s say a major investment in infrastructure is occurring that will take a couple of years but the ROI time frame is one year. The investment is based on cash flow and what is spent in that year.

STEP #6: CALCULATE THE ROI

roi calculation

The ROI formula is: Return – Investment/Investment X 100%. The ROI is expressed as a percent. That’s it. Here is the formula and a sample calculation.

STEP #7: GUIDE WITH KPIs

roi & kpis

An ROI is a forecast of a result to occur in the future, a scorecard of key metrics is developed to keep ROI on track. These are Key Performance Indicators or KPIs.  A Key Performance Indicator is a measurable value that demonstrates how effectively a company is achieving key business objectives. Organizations use KPIs at multiple levels to evaluate their success at reaching targets. To keep the ROI on track, KPIs are an actionable scorecard. Variables that figure into the return like returning customers, new customers, annual customer value and conversion rate might also be KPIs. Here is what a KPI scorecard looks like for a new digital marketing venture.

STEP #8: ALIGN WITH DESIRED GOALS

roi & goals

ROI is key to evaluating how realistic is the business objective and financial goals for a company. In the ROI calculation above of 238%, the company is expecting a return of $2.38 for every dollar invested. The company has to decide how if realistic this is. It is if the company has the commitment and deliver on their plan and measure success. It probably isn’t if they don’t. But now they have a basis for evaluation. Otherwise, the company is just guessing.

Do these steps to calculate ROI sound simple and sensible to you? Do you need help figuring out ROI at your company?

33 inspiring B2B digital marketing case studies 0

Posted on November 15, 2015 by Rob Petersen

 

 

B2B Case Studies

  • 86 percent of B2B companies say they are doing content marketing
  • Just 38 percent say it is effective
  • 21 perecnt are able to track a return on investment (ROI) (source: Content Marketing Institute)

Benefits from marketing and attribution of results always seem harder for B2B companies than B2C. Maybe it’s because the buying cycle takes longer, more people are involved in purchase decisions and sales are made for rational, not emotional, reasons.

Is it harder or are we not looking hard enough?

If you need convincing, here are 33 inspiring B2B digital marketing case studies.

CONTENT MARKETING

  1. ADP: Developed a content marketing campaign to connect and engage with their target audience on a ADP solution using white papers and a diagnostic assessment tool. The campaign generated over $1 million in new sales opportunities with several deals closed within the first 3 months of launch.
  2. CROWE HORWATH: the public accounting firm used 48 pieces of content in 4 different topic areas, this campaign targeted C-level prospects in financial institutions with $1 billion or more in assets across the buying cycle. Content tactics included: executive briefs, case studies, infographics, checklists, Q and A, and Brainshark video. 778 contacts were engaged with a 70% open rate (vs. 10%), 2 engagement worth $250k in revenue.
  3. DEMANDBASEA B2B marketing cloud, helped B2B marketers make the right content technology investment by using a white paper, infographic, webinar, Slideshare and a live presentation to spotlight tools that can maximize the power of content. The results of the campaign generated 1,700 leads, 125 webinar participants, 5,000 views on Slideshare and $1 million in new business.
  4. FISHER TANK: Makes giant, above-ground welded steel tanks. With clients in the fuel industries, waste water, pulp & paper and other industrial and municipal areas, projects tend to be big (multi-million dollar) and take a long time to sell (12 months and longer). For more than 60 years, the company has made its sales primarily through cold calling and referrals from existing clients. So it took some moxy to launch a content marketing strategy online. The plan including sprucing up the website, integrating a blog and social sharing, and offering some valuable content by free download. The campaign increased web traffic by 119%, traffic from social media by 4800%, lead conversions by 3900%, quote requests by 500% and new qualified sales opportunities by $3.4 million.
  5. LOGICALL: A company that focuses on inbound and outbound customer management solutions, uses content assets such as emails, microsite and ebook, Logicalis developed a thought leadership effort that supported sales teams by enabling custom messaging based on the prospects interaction with the campaign. With a target audience of about 2,000, nearly $8 million in new pipeline business was closed.
  6. OPENTEXT: A software solution for enterprise information management, created a personalized new customer onboarding site offering a variety of assets (white papers, checklists, product pages, ebooks, case studies) and content to welcome new clients and provide upsell, cross-sell opportunities. The campaign also included a two phase nurturing program. 1,700 new contacts were identified along with 31 new opportunities worth $1.8 million.
  7. OPTUM: A health services business, created an integrated marketing campaign to support the launch of a new solution, support sales and build thought leadership. The content marketing mix included: advertorials, display ads, email, direct mail and a campaign website. The successful campaign earned a 23.5 lead to conversion rate, 475% increase in website traffic, 2,500+ resource downloads, 28% increase in YoY blog followers and $52 million in contract value of new business with less than $ 1,000,000 invested.
  8. RS COMPONENTS: The electronic product distribution company created a specific social hub, spanning four different languages, having the purpose of being a collaboration and engagement hub for Electronic Design Engineering. One of the centrepieces of the site is the free tool store, which includes a free design tool that’s been downloaded more than 60,000 times and the site itself gathered more than 45,000 members within its first 12-month period.
  9. SAP: The global strategy was aimed at enabling cross-cultural information to be efficiently shared around the company. SAP Latin AmericaOne year after implementing this strategy SAP Latin America had more than 100,000 fans and followers (an increase of 900%) and achieved a 17% interaction rate across  the region, while a campaign featuring a social app targeting specific buying centers drove more than 12,000 visitors and a 15% engagement rate. has four Facebook pages, four Twitter feeds and two LinkedIn accounts. These profiles are split out by language (e.g. Portuguese and Spanish) rather than country and aim at achieving a split of 20% promotion material vs. 80% of interesting, engaging content for its community.
  10. XEROX: Created a targeted “Get Optimistic” campaign to connect with 30 top accounts and partnered with Forbes to create a magazine that offered relevant business tips. 70% of targeted companies interacted with the microsite, readership increased 300-400% over previous email campaigns, added 20,000 new contacts, generated 1,000+ scheduled appointments, and get this: yielded $1.3 BILLION in pipeline revenue.

SOCIAL MEDIA

  1. CISCO: Established a social media listening center. It listens to more than 5000 social mentions a day on Facebook, Twitter, and other social channels. Cisco has been able to control outside agency fees, avoid other customer and partner interaction costs, increase team productivity, and identify new sales opportunities. The social media listening center has had an ROI of +281% in 5 months to generate an annual benefits of $1,596,292.
  2. MAERSK: Danish shipping company Maersk first began using social back in 2011 to raise brand awareness, gain insight into the market, increase employee satisfaction and get closer to its customers, It focuses on the stories that emerge from within the business, such as how it is helping fuel a boom in the sale of Kenyan avocados and where its staff come from. Its presence on each network is tailored to that platform, so for example on LinkedIn it promotes job vacancies and publishes articles about the work culture within the business, while on Instagram it encourages followers to post photos of its ships using the hashtag #Maersk. Maersk now has more than 1.5m Facebook fans (of which around 15% are customers) and 12,000 Twitter followers, as well as active accounts on Instagram, Tumblr, YouTube and Google+.
  3. DELL sought to go where its customers are — on social media — by offering technical support, responding to customer concerns and building business digitallyThe company launched @DellCares, a program that uses social media platforms and online communities to address customer questions and reply directly to customers through tweets and other response methods. According to Amy Marquez Bivin, Social Media Outreach Manager, 98 percent of customer issues responded to through @DellCares are resolved without customers needing to work with an agent and 85 percent of social-media-assisted customers with negative initial opinions of Dell reported a positive opinion following the support experience. The program is also generating an average of $265,000 in additional weekly revenue.
  4. SHIPSERV: It’s difficult to imagine the maritime industry getting to grips with social media, but Shipserv one of the leading industry marketplaces, proves that in can be done very successfully. As part of a wider marketing strategy and customer engagement strategy, various social approaches were taken, resulting in greater site traffic, alongside increased brand awareness and lead opportunities. From an initial $30,000 social media marketing investment, it’s estimated the overall results achieved would have cost more than $150,000 through traditional media.

SOCIAL CRM

  1. ALLINA HEALTH: Used CRM to manage its data warehouse. It’s identified benefits that include reduced patient length of stay, reduced admissions, and improved health outcomes in stroke, depression, and angioplasty treatments. Within 2 years, the CRM initiative had an ROI of +152% and generated $1,052,828 each year.
  2. GET SATISFACTION: A leading online customer community platform that companies use or customer support, idea submission, marketing and sales questions, and capturing positive feedback, focused traffic driving strategies on search, social media, blogging, and building a content community. The CRM strategy achieved an ROI of +104% in month one, +168% in month two and +248% in month three.
  3. TYROIT: is Europe’s largest manufacturer of bonded grinding, cutting-off, sawing, and drilling tools generating $416 million in annual revenue from more than 70,000 unique products produced in 19 plants for 60 countries. Tyroit used CRM to integrate products and solutions to reduce the number of contact points and transaction costs. It increased bottom line costs by +25% and produced an ROI of +183% within 2 years.

SOCIAL SELLING

  1. AT&T:  Put together a new sales team to re-build business relationships with a Fortune 100 company in Atlanta. They decided to take an entirely new approach that heavily favored building relationships through social media. They had to try something new.  Relationships with a key client had suffered in the past five years, creating strain and sales had dried up. With training from Mark Schaeferand support from our internal team, they began implementing a content strategy aimed at strategic “persons of interest” from the former customer. Inside of 18 months $47 million in brand new business was awarded to AT&T, directly attributable to social media outreach.
  2. IBM: Traditional ways of finding B2B customers for hardware and software products – telemarketing and email – were not producing the same results when applied to selling web-based services such as cloud computing and data security. IBM launched a program called “intelligent listening” within social media to learn what conversations about cloud computing were going on, what trends and issues were being discussed, and what the hot-button topics in the field were for users. Sales reps could simply check an RSS feed, find some content that fit the context of any discussion they were seeing, and upload them to social media and also to their new individual rep profile pages within the IBM site. The result was 10 orders the first day, and orders for product during the quarter that were 4X higher than during the same time the year before.
  3. INCONTACT: A call center software company, trained half their team to learn and engage with customers through Social Selling using LinkedIn and the marketing automation software, Eloqua. Within a year, the half of the team that was trained saw a 122% increase in revenue for those sales reps using LinkedIn; 157% increase in revenue for those sales reps using LinkedIn & Eloqua. Now the entire company is trained in Social Selling Here is a brief video to explain the story.
  4. INDIUM:  Social Media in manufacturing is a rarity. Several of their engineers (17 or so, and 73 blogs.) write blog articles to share their expertise with customers, prospects and people with questions about the technical applications related to solder. They shifted from traditional white papers to blog articles, supported by extensive measurements. Video is part of the mix too, to develop high value conversations, and this rolls over into trade show attendance. The video highlights key points for success and insights. SEO improved significantly. Leads increased significantly while trade-show costs decreased 75%.
  5. HUBSPOT: Focused social media on solving customers’ problems as a way to earn leads. For example, HubSpot is first to release guidebooks their target market needs to create success. When something changes in online marketing, HubSpot is there with a guide to manage the change. They share the best advice, fast and have earned a reputation as THE educational resource for the market they serve. They give knowledge and advice (content) away free and make sure it’s the very best stuff possible. This (now) famous software start-up exploded onto the scene in 2006. Two years later they hit $2.2 million in sales and $52 million 4 years later.
  6. LINKEDIN:  Had to be converted to social selling. After the release of tools such as Sales Navigator and TeamLink, LinkedIn’s own sales team began seeing significant results. Ralf VonSosen, the company’s head of marketing for sales solutions notes, “We started seeing a 50% increase in leads to meeting conversion rates.”
  7. LOGMYCALLS: A call tracking service, practiced a“150 Blog Posts in 50 Days” effort. “With a company our size, the commitment has to be significant in order to produce 3 unique and useful blog posts a day,” says Inbound Marketing Manager, McKay Allen. “After all, we also produce 2 original marketing webinars each week, monthly case studies, a variety of marketing White Papers, and some humorous and awesome marketing call tracking videos.” The result of this original and relevant content: A 400% increase in leads within 90 days.

LINKEDIN MARKETING

  1. AXWAY: Is a software service that manages, runs, secures, and monitors all your business interactions – emails, files, messages, services, events, and processes. Although Google Adwords was successful at generating leads for Axway, competition for top keywords was fierce and drove up conversion costs. Axway used LinkedIn Ads specifically targeting the job titles, industries and job functions. They tested over 30 ads with custom landing pages. The LinkedIn campaigns generated +25% conversion rate with the lowest cost per conversion ever achieved.
  2. JMF INTERNATIONAL TRADE GROUP: Is a business consultancy and contract manufacturer run by James Filbird. What Jim did is something any of us could do to grow a business but most of us don’t. He: 1) kept his profile up-to-date, 2) joined 50 LinkedIn Groups, 3) scoured Group Digests, 4) engaged in discussions, 5) connected, 6) moved the conversation offline, mostly through Skype and 7) re-evaluated his groups and contacts, regularly. He attributes the company he built to $5,000,000 in revenue largely to LinkedIn.
  3. GOSHIDO: a software solution that makes is easier for people around the world to work together and collaborated, used LinkedIn to find seed capital for its own creation.  This was done by identifying and leveraging connections who could be potential investors. Approximately $150,000 was raised.
  4. HEWLETT PACKARD: is the first company to hit 1,000,000 Followers for a Company Page. They also set up a specific Discussion Group to attract small businesses that has 5,500+ members; 75% who actively engage in discussions and who are 2X more likely to recommend HP. Since a video tell more than 1,000 words, here’s the story.

WEBINARS

  1. INSPIRED MARKETING: Sells digital materials and online training programs about using social networking tools such as LinkedIn, Facebook and Twitter to create and market a successful business. In 2010, the partners presented more than 300 webinars (both their own and through other people). They investment could be tracked to over $2.5 million in sales for 2011. “In January 2011, we had sales of $250,000 from just seven GoToWebinar events,” says President and Co-founder, Lewis Howes.
  2. LUMEDX: Is a small healthcare technology company with 100 person staff. It needed to stand out in the face of large brand competition. Lumedx used webinars to cost effectively build awareness of its cardiovascular information and imaging systems product, drive lead generation campaigns and build customer rapport. Lumeds increased contact with over 500 clients, gained competitive edge over much larger companies and drove over$600,000 in annual sales.
  3. MARKETO: Is a leading provider of marketing analytics software. The company recognized webinars as a key piece in the marketing tool kit to promote thought leadership and generate leads. As with many webinars, people registered but didn’t always attend. They used a simple, recorded phone message reminder in addition to email. Although th ephone reminder added $2 for every registrant, it increased conversion of people who attended  from 26% to 48% and, according to Marketo, was well worth the investment in terms of sales results according to a company rep.
  4. PINPOINTE: Is  a provider of on-demand email marketing automation services for mid-market and large enterprises. Pinpointe depended upon free,15-day trials of its service together with traditional sales outreach to generate leads and win new customers. However, the company wanted to find additional ways to increase awareness, leads and sales. When webinars were added, 1000 new leads per month are added; 25 become customers who each generate $200/month in Pinpointe services adding $6,250 and $75,000 to the bottom line.
  5. SEAGATE: Is a large 52000+ staff technology company, Seagate wanted to bypass traditional B2B channels and market its new product directly to end users. Webinars facilitated a B2C product launch and attracted 1500+ attendees with zero advertising budget. Seagate also used webinars to assemble far-flung speakers for webcasts without travel costs. Seagate exceeded initial sales unit goal by 300 percent, doubling sales forecast within one week of launch. Once they put the webcast on YouTube, a viral marketing effect created 38,800 within 4 months.

This post was originally featured on the {grow} blog from Mark Schaefer’s Businesses Grow. We’re grateful for the significant exposure it received. We’re republishing for our readers.

Did you find one relevant to your business? Did these B2B digital marketing case studies convince digital marketing can work for your B2B business?

12 big business benefits of Customer Lifetime Value 0

Posted on October 18, 2015 by Rob Petersen

 

 

 

Customer Lifetime Value

  • 5% increase in customer retention increases profits by 25% to 95% (Harvard Business Review)
  • 6-7x more costly to acquire a new customer than retain a current one (Bain & Co.)
  • Just 42% of companies are able to measure Customer Lifetime Value (Econsultancy)

There are many reason why customer retention is important. Perhaps most important is the value of retained customers over time.

Customer Lifetime Value is the dollar value of a customer relationship based on the present value of the projected future cash flows from the relationship.

It pays to calculate Customer Lifetime Value. It’s one of the most important metrics for a business.

To show why, here are 12 big business benefits of Customer Lifetime Value.

  1. LARGEST BUSINESS ASSET: Customer Lifetime Value provides an exact figure for the company’s largest asset. The calculations enables you to follow the progress over time and to intervene if events start moving in the wrong direction.
  2. CUSTOMER SEGMENTATION: Customer Lifetime Value enables your business to classify different customer groups and different potential customer groups by long term profitability. So you can decide whether it’s worth it to change market strategy or not.
  3. EARLY WARNING SIGNS: Customer Lifetime Value can be used as an early warning system to detect defection rates. It identifies in which segments the problem originates so actions can be taken to correct the cause.
  4. COMPLAINT MANAGEMENT: If a customer complains about a serious problem, Customer Lifetime Value can help front-line employees decide what action to take immediately and how much to invest to solve the problem.
  5. WIN-BACK CUSTOMERS: A customer that a company wins back has a different Customer Lifetime Value before and after recovery (win-back). Often, second CLV is better than the first CLV.
  6. UP-SELL AND CROSS-SELL: Two fundamental tactics in any marketing program are to up-sell and cross-sell. But which one should to do? When? And to what segment? Customer Lifetime Value can give you a good idea of the return to expect to guide decisions and investments on up-sell and cross-sell.
  7. AUTOMATE INTERNAL PROCESSES: Ask a company what keeps them from maintaining better customer relationships, and their response will probably include something along the lines of “we don’t have enough time,” or “we’re too busy with daily tasks and processes.” Knowing Customer Lifetime Value can help a company determine if investments into Marketing Automation software are worthwhile.
  8. BRAND LOYALTY: Products and services may be easy for competitors to copy, but a company that is good at creating customer loyalty is less vulnerable to attacks from competitors. Loyalty is much more difficult to copy.
  9. BALANCE SHORT TERM RESULTS AND LONG-TERM GOALS: Customer Lifetime Value enables better decision making when having to weigh the competing needs of short-term profitability and longer term goals.
  10. QUANTIFY CUSTOMER SATISFACTION: Many businesses rely on a customer satisfaction scores to guide interactions and explain business results. Customer Lifetime Value puts an amount to the increase or decrease the customer satisfaction scores represents.
  11. LEAD GENERATION: Most CMOs really don’t know and even fewer CEOs know “what’s a lead worth”? When you know Customer Lifetime Value, you understand your lead-to-customer conversion rate and exactly how much a lead is worth. And how much you should be willing to spend on new leads.
  12. RETURN ON INVESTMENT (ROI): Any company has only limited resources. It is natural to want to use them for customers that bring them maximum profits. If you know the cumulative cash flow a particular customer, Customer Lifetime Value helps determine how much should go into retaining a customer to maximize ROI.

These benefits show just how valuable the calculation of Customer Lifetime Value can be. But, in the end, it is a calculation. To put the business building benefits of Customer Lifetime Value to work, people have to take action.

Do these benefits prove the value of Customer Lifetime Value to you. How would you put Customer Lifetime Value to work on your business? Does your company help calculating Customer Lifetime Value?

10 essential infographics to create a digital marketing plan 0

Posted on August 23, 2015 by Rob Petersen

 

 

Digital Marketing Plan

U.S. advertisers’ spending on digital advertising will overtake TV in 2016 and hit $103 billion in 2019 to represent 36% of all ad spending, according to Forrester’s latest estimates based on its ForecastView model.

That means a lot more businesses are going to be in need of an effective digital marketing plan.

To guide you through the development, here are 10 essential inforgraphics to create a digital marketing plan.

  1. WHAT IS DIGITAL MARKETING? Begin with an understanding of what is digital marketing. Make sure your audience knows what they’re getting. How it works. What are ways to achieve desired results. What tactics are going to be in the plan and what the measurement tools are. This infographic from Pixaal starts you on your way.

what is digital marketing2. TOP 10 DIGITAL BRANDING TRENDS: Account for key developments. Take them into consideration in developing your plan. Know what to be aware of, what to avoid and what to expect. This infographic from the Borenstein Group provides good perspective and context.

Top 10 Trends for a Digital Marketing Plan

3. SEO: EXPLAINED: 54% of people find a website through natural search results according to Forrester. Understand how to reach the majority of people who find your website and attract even more. Search Engine Optimization, the process of maximizing the number of visitors to a particular website by ensuring that the site appears high on the list of results returned by a search engine, is a primary requisite to every digital marketing plan. This infographic from NerdyFace explains what to enable on your site for effective SEO.

seo-explained

4. SEO VS PPC: While 85% of clicks on a search engine page go to an organic search listing, if your site isn’t at a top listing, that click isn’t going to go to your business. PPC (Pay Per Click) allows a web owner a quick way to be listed in a top position by paying for ads. In addition to a high search rank, a PPC campaign is relatively easy to measure and manage through the accessible of measurement like CPC (Cost Per Click), CTR (Click Through Rate) and Conversions. The author of this infographic isn’t identified but has objectively explained the differences and benefits of each.

SEO vs PPC for Digital Marketing Plan

5.  THE ANATOMY OF CONTENT MARKETING: 70% of consumers prefer getting to know a company via articles rather than ads according to kapost. Content Marketing takes many forms and has many benefits. This infographic from Axonn explains the various forms Content Marketing takes, results it produces and why it is so important for effective digital marketing.

Content Marketing for Digital Marketing Plan

6. SOCIAL MEDIA MARKETING: While Content Marketing is the primary ingredient of Social Media Marketing, there is an art and science to effectively using social network to accelerate, amplify and activate your audience. Social Media Marketing is a marketing discipline unto itself in any digital marketing plan. This infographic from Visual.ly created on PiktoChart puts the two in contest and the reasons to devote resources to both.

Social Media Marketing in Digital Marketing Plan

7. MOBILE MARKETING: US adults spent on average 34 hours per month using the mobile internet on smartphones. By comparison, they spend 27 hours on the PC internet. Of that smartphone internet time, apps capture 86 percent of usage. Only 14 percent of smartphone internet access time comes via the mobile web according to Marketing Land. This infographic from Milo shows how much of consumer behavior has gone mobile and the top tactics marketers should pursue.

mobile marketing for digital marketing plan

8.EMAIL BEST PRACTICES: In 2014, email marketing was cited as the most effective digital marketing channel for customer retention in the United States according to the CMO Council. Email marketing requires discipline and steady attention. This infographic from eMerge gives best practice so you can carry on the due diligence that is required for email marketing.

email marketing digital marketing plan

9, MOST IMPORTANT DIGITAL MARKETING METRICS: “If you can’t measure it, you can’t manage it,” said Peter Drucker. This infographic from Digital Marketing Philippines gives you the most important measurements to manage.

what is digital marketing

10. DIGITAL MARKETING ROI: Does digital marketing produce results? Here are 8 studies from an infographic BarnRaisers did for the IAB that proves it does, It also shows digital marketing works best when it is integrated into the overall marketing mix.

digital marketing plan ROI

Do these infographics give you guidance for your digital marketing plan? Do you need help with a digital marketing plan that will build your business?

 

 

 

10 case studies where web analytics insights drove ROI 0

Posted on August 09, 2015 by Rob Petersen

 

 

web analytics

What good is data if you don’t know what to do with it?

Web Analytics is the measurement, collection, analysis and reporting of internet data for the purposes of understanding consumer behavior, improving user experience and optimizing web usage.

This might sound intimidating to some but the reason why companies do web analytics is simple: To find insights that help make better business decisions.

Who does it well?

Here are 10 case studies of companies that used insights from web analytics and drove ROI.

  1. BT FINANCIAL GROUP: Is a leading provider of superannuation, investment and insurance products. The BT website focuses on service and usability with an online application form as one of the key conversion points. Landing pages with different combinations of the design elements for testing are created to optimize the user experience and maximize conversions. With conversion testing, BT increases form completions by more than 60%.
  2. BUILDDIRECT: Does business in more than 100 countries with an expanding portfolio of building materials. Though the company is growing rapidly, management is eager to improve the efficiency of its online spending. Through web analytics, BuildDirect finds home buyers who purchase a sample have a 60% likelihood of returning to the site within the next 30 days and placing a full order,  BuildDirect uses GA’s A/B testing capabilities to perfect its marketing approach. With insights from web analytics, BuildDirect increases sales by 50%.
  3. HARVARD UNIVERSITY: To expand the digital reach of two established schools, Harvard Summer School and Harvard Extension School, Harvard ran a 12-month SEO and PPC campaign. They use web analytics as an audit to identify technical setbacks, content positioning, to create new landing pages for search traffic, and top-of-funnel paid search awareness campaigns. The result are: 1) 89% increase in visits from organic search, 2) 75% increase in registrations from organic search, 3) 30% increase in CTR with AdWords and 4) 124% increase in ROAS with AdWords.
  4. KEEN FOOTWEAR: Is an outdoor shoe manufacturing company based in Portland, Oregon. The company needs a better way to measure, analyze, understand metrics that mattered on their social network provide meaningful insight. A framework involving reach, engagement, influence, sentiment and effect is developed. Key Performance Indicators (KPIs) within each area are established. Using the metrics: 1) Page Likes increase by 92%, 2) Post Reach increase by 342%, 3) Post Engagement increase by 137% and Active Users increase by 213%.
  5. MOTOREASY: Is a company that sells extended auto warranties. Motoreasy’s Web site is re-designed to give you a quote for an extended auto warranty on your car. This involves: 1) Tell people what you want them to do (fill in the form) and 2) tell them the benefits of doing so(you’ll get a quote which could save you money). The telephone number is featured prominently at the top, making it easy for them to call if they found filling out the online form too tedious.  These changes reduce the drop out rate from 65 percent to 29 percent overnight. This increases the completion rate of the sign up page from 31% to 69%.
  6. NIKE GOLF: Is the golf-specific retail branch of Nike. Although there is the benefit of the Nike brand, there is also the lack of a focused keyword strategy on the Nike Golf website. It is very difficult for search engines to crawl for content. Research helps make decisions like whether target keywords should be “golf apparel”, “golf clothing”, “golf clothes” or “golf sportswear.” As a result of the research, Nike Golf sees a 169% in total increase in organic search traffic.
  7. ON THE BEACH: Offers value for money flights and hotels to the world’s most popular beach holiday destinations, providing consumers with a huge selection of travel products, including 50 million airplane seats and more than 30,000 hotels. On the Beach finds that their generic search is undervalued under last click reporting, a discovery that allows the company to build a custom attribution model and increase budget on generic campaigns. This helps drive a higher volume of site traffic, holiday sales and market share in the travel sector, which in turn led to a 25% increase in ROI.
  8. PBS: Helps individual PBS producers and local PBS stations create and promote each section within PBS.org. PBS wants to develop a coordinated approach to analysis and reporting that would inform their future strategic decisions. Analysis of search engine trends leads to an increase in PBS traffic by 30%. Web analytics is set up to allow PBS to evaluate the way users consumed video. As a result, PBS increases both conversions and visits by 30%.
  9. PUMA: Has rich, dynamic web site; but, just as PUMA constantly improves its products, it also believes in making site changes that help visitors easily achieve their goals. While testing its web site header, it finds a variation that increases online orders by 7.1%. Puma more than doubles the amount of time visitors spend interacting with PUMA brand content, such as news, videos, and photos. It results in 47% more traffic.
  10. RYANAIR: Is Europe’s largest low fare airline. 99% of Ryanair’s bookings are made through its website making it the company’s single most important marketing tool. Web Analytics helps understand email and visitor behaviour. Ryanir is able to increase click-through rates by 200%, decrease bounce rate by 18%, increase visitor traffic by 16% to strategic pages and double revenue generated from their email campaigns.

We, at BarnRaisers, are big believers in how data-driven results helps make better business decisions. Helping companies connect the dots between strategy, execution and results is a big part of what we do.

To these case studies help you see how insights from web anlaytics can drive your businsess’ ROI?

 

  • About

    BarnRaisers builds brands with proven relationship principles and ROI. We are a full service digital marketing agency. Our expertise is strategy, search and data-driven results.



↑ Top