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Posts Tagged ‘analytics’

Marketing Process: Managing your business leader’s testing expectations

June 25th, 2013

Every Research Partner wants a lift, but we know sometimes, those lifts aren’t achievable without learning more about their customers first.

And often, our biggest lifts are associated with radical redesign tests that really shake things up on a landing page. That is because the changes are more drastic than a single-factor A/B test that allows for pinpointing discoveries.

So, how can you strike a balance between using these two approaches while still delivering results that satisfy expectations?

You can achieve this by managing your client’s or business leader’s expectations effectively.

It sounds easier said than done, but there are a few things you can do to satisfy a client’s or business leader’s needs for lifts and learnings. 

 

Step #1. Start with radical changes that challenge the paradigm

At MECLABS, we often recommend a strategic testing cycle with radical redesign testing (multiple clusters as opposed to a single-factor A/B split) to identify any untapped potential that may exist on a Research Partner’s landing page.

However, you must make sure you are not making random changes to a page to achieve a radically different control and treatment, but are truly focused on challenging the control’s paradigms and assumptions currently being made on the page by testing with a hypothesis.

For example, Sierra Tucson, an addiction and mental health rehabilitation facility, found with a radical redesign from a landing page focused on luxury to a landing page focused on trust resulted better with its target audience. The company also generated 220% more leads with the test to boot.

 

Step #2. Zoom in on general areas your radical redesign test has identified as having a high potential for impacting conversion

Next, we suggest refining with variable cluster testing, also known as select clusters.

If you identify a radical shift in messaging to be effective, as Sierra Tucson did, you might next want to try different copy, different designs or different offers, just to name a few options.

Read more…

Content Marketing: Your questions on B2B online lead gen, metrics, content from SMEs and more

June 21st, 2013

In a recent MarketingSherpa webinar, I interviewed Eric Webb, Senior Marketing Director, Corporate Marketing & Brand, McGladrey, about his impressive work with the accounting firm’s content marketing.

You can now watch the video replay of that webinar – “Content Marketing: A discussion about McGladrey’s 300% increase in content production.

But most of the questions I asked him weren’t my own, they were from you. In fact, we got tons of your questions about content marketing, and Eric has been kind enough to answer some of them here today on the MarketingSherpa blog.

Even better, Eric also provided you a tool his team used to help with its 300% increase in content production. Click below to download the template …

Submission form – with example

 

And now, your questions…

B2B online lead gen as a topic. Mor, online marketing manager

Eric Webb: We use content to generate leads 70% of the time. Via Demand Generation, and social media, we promote specific content that resides behind a form. We may ask qualifying questions as well to help discern where they are in the buy cycle.

To do this, you need to repackage the topic to leave a breadcrumb of content that helps you accelerate the sales process. You may have a white paper which shows they are in discovery of the issue, then a podcast with a client and a case study. If they download these, they are likely more interested and are considering or feel they can benefit in some way from the solution.

Finally, a self assessment or an offer for a free 30-minute talk with the expert tells you they are truly interested and deserve a call.

 

Creating content for niche industries and clientsMaddie, marketing analyst

EW: I recommend looking to industry publication editorial calendars for ideas, clients and outside speakers.

 

Specific metrics and related incentives for the content creation team, please.Marshall, CEO

EW: For content, the metrics we most watch are clicks and downloads, or form conversions if behind a form. We don’t necessarily offer an incentive except recognition for the SMEs (subject matter experts) on how the content they create is performing. But, you clearly could offer an incentive based on form-conversion leading to an opportunity.

 

How much content is necessary?Christian, director of marketing

EW: Depends on your objectives – if you are just trying to build awareness, then you may measure retweets, likes or +. You could also look at a benchmark of current visits to a section and just say 10% above that. But ultimately, you have to determine what your objective is.

 

How do you re-purpose other’s content?Christian, director of marketing

EW: We do curate content to help fill out a section and drive more time on site or to attract more people. But only the first paragraph and then we link out to their site. Otherwise, we look to vendors or partners to provide some of their content in totality.

 

Besides social, blogs and email – any other outlets?Christian, director of marketing

EW: Networking sites like LinkedIn updates and groups. Partner sites, publications and association sites; some of our most clicks come on the heels of someone commenting in a news article and providing a link to our content. Slideshare. Reddit. Digg.

 

I love the idea of creating energy around content for SMEs and am looking forward to learning more about this.Dee, founder

EW: Basically it comes down to being able to provide a breakdown of specific metrics by each content piece (clicks, downloads, form fills and opportunities). Develop a monthly report to show the value that the content is creating and highlight the author. Also, if you have a PR group, get them to promote the author as an expert, showcasing their content to reporters.

 

How quickly do you plan from idea generation for content to getting it up and available?Nick, manager

EW: It depends on the topic. A blog post is usually a few days, depending on approvals required, but a white paper can be weeks and months, especially if it’s a regulated industry. We try to get teams to use content calendars and think at least three to six months out by assigning topics to SMEs.

 

How to develop a thought leadership culture in the workplace?Kim, senior email marketing manager

EW: I noticed a change when you could report the metrics. And, with our marketing automation system, we now are close to showing a measure of influence of total revenue and direct attribution of particular campaigns and content offered to opportunities.

Explaining how your audience buys – their buy cycle – and then being able to show how they read through content to ultimately filling a form and wanting to engage helps as well. Consistency is key.

Read more…

Testing: 3 common barriers to test planning

June 14th, 2013

Sometimes while working with our Research Partners, I hear interesting explanations on why they can’t move forward with testing a particular strategy.

And as you would expect, there are a few common explanations I encounter more often than others:

  • We’ve always done it like this.
  • “Our customers are not complaining, so why change?

And my personal favorite…

  • We already tested that a few years ago and it didn’t work.

While there are some very legitimate barriers to testing that arise during planning (testing budgets, site traffic and ROI), the most common explanations of “We can’t do that” I hear  rarely outweigh the potential revenue being left on the table – at least not from this testing strategist’s point of view.

So in today’s MarketingSherpa blog post, we will share three of the most common barriers to testing and why your marketing team should avoid them.

 

The legacy barrier – “We’ve always done it like this.”

Legacy barriers to testing are decisions derived from comfort.

But what guarantee does anyone ever have that learning more about your customers is going to be a comfortable experience? So, when I receive a swift refusal to test based on “We’ve always done it like this,” I propose an important question – what created the legacy in your organization in the first place?

Generally, many companies understandably create business constraints and initiatives around what is acceptable for the market at a given point in time.

But what happens far too often is that these constraints and initiatives turn into habits. Habits that are passed on from marketer to marketer, until the chain of succession gives way to a forgotten lore of why a particular practice was put in place.

This ultimately results in a business climate in which the needs of yesteryear continue to take priority over the needs you have today.

So, if you find yourself facing a legacy barrier, below are a few resources from our sister company MarketingExperiments to help you achieve the buy-in you need to challenge the status quo:

What to test (and how) to increase your ROI today

Value Proposition: A free worksheet to help you win arguments in any meeting

 

The false confidence barrier  “Our customers are not complaining, so why change?”   

The false confidence barrier is built on the belief that if it isn’t broken, don’t fix it – or at least it isn’t broken that you’re aware of.

This is especially important if your organization is determined to use customer experience in the digital age as the metric of success when evaluating a website’s performance – and this happens more than you would think.

So, considering for a moment a hypothetical customer is having an unpleasant experience on your website, ask yourself…

What obligation does a customer have to complain about their experience to you?

My recommendation in this case is to never assume customer silence is customer acceptance.

Instead, take a deeper look at your sales funnel for opportunities to mitigate elements of friction and anxiety that may steer customers away from your objectives, rather than towards them.

Read more…

Social Media Marketing: A quick look at Facebook EdgeRank

June 7th, 2013

When I first graduated from high school, I took a job at a day care.

I was hired initially because I made it my personal goal to sign up as many kids as possible for our services. Of course, the responsibilities of more children under your supervision solves one set of problems while creating new ones.

One thing I quickly learned is that it’s pretty tough to convince a large group of kids to take a nap without using bribes of their preferred currency … chocolate.

So needless to say, my employment at the day care was brief because my true value as an employee was not just based on increasing volume, but also on how effective I was at engaging the volume that already existed.

 

Social media goal setting

A lot of marketers who have been conditioned by years of hard time spent in the midst of the media industrial complex hold the belief they should run their social media campaigns like I was running the day care – by taking a “more is always better” approach.

The idea behind this belief is simple.

Consumers who use Facebook have eyeballs. Therefore, the more eyeballs I can put onto our brand’s social media page the more “awareness” we can create which should eventually result in more business.

Because more is always better, right?

 

Fun with algorithms

The biggest problem with taking a “more is always better” approach to your social media marketing is a rooted assumption that all of your Facebook followers will see all of your content every time you post something.

Unfortunately, that’s simply not true.

Take our MarketingSherpa Facebook page, for example. On average, our posts reach somewhere around 15.26% of our followers on a given day, depending on the type of content.

So how can that be?

In three words … Facebook curates content.

According to Hubspot, the average Facebook fan spends about 40% of their time on the newsfeed as opposed to just 12% spent on profiles or brand pages. That margin makes the newsfeed the center of the Facebook universe.

So, to ensure that people have the most enriched newsfeed experience possible, Facebook curates content based upon on their homegrown algorithm known as “EdgeRank.”

 

There are three components to EdgeRank, wherein:

  • U = Affinity: which takes into account the past relationship between a Facebook user and your brand

If a user has interacted heavily with your social media content on Facebook previously, then it’s very likely they will see your next content offering in their newsfeed.

  • W = Weight: which relates to the types of content you have created. Some users prefer images while others may prefer text or video

The more a user interacts with a particular type of content through likes, comments and tags, then the more likely their preferred content types will appear in their newsfeed. If a user likes all of your pictures, then they will likely see the next picture your brand posts.

  • D= Decay: which is typically never a good thing

The older a post is, the less likely it is to appear on the newsfeed of a Facebook follower.

Read more…

Competitive Analysis: Stepping outside the industry and ahead of the competition

May 14th, 2013

Far too often, marketers become so ingrained within their own industry they fail to look elsewhere for valuable insights. My goal for this post is to challenge you to broaden your horizons and escape the confines of your industry.

I’m willing to bet you’ll find something worthwhile.

 

First, a definition …

Cross-industry competitive analysis is a study of company behavior and performance, outside of one specific industry, comparing several significant competitors. Using appropriate tools and tactics, researchers use analytic data to determine paradigm shifts within similar industries, and make predictions about possible cross-industry trends.

(MECLABS has a series of free competitive analysis templates for you to download, in case you need a little help getting started.)

 

Where to begin?

Now, one of the most difficult aspects of cross-industry competitive analysis is trying to figure out where to begin. Are you supposed to arbitrarily select a different industry from which to begin pulling valuable insights? The answer is found in one key aspect of every company – from the brand-new startup, to corporate giants like Apple, every company has one thing in common that they cannot survive without …

The customer.

It doesn’t matter if you have the greatest product in the world – without an interested customer, it really has no more value than the old shoe on the side of the road. I cannot stress this enough: the key to finding valuable insights in other industries is putting yourself in the shoes of your customer.

Read more…

Marketing Analytics: Now that marketers can collect data, interpretation is the top challenge

May 3rd, 2013

Technology is fantastic. But, it’s not magic.

Marketing analytics can be extremely powerful. However, just like any other tool or technology, it takes hard (and smart) work to turn data into knowledge.

So, in the MarketingSherpa 2013 Marketing Analytics Benchmark Report (sponsored by Paramore), we asked marketers …

Q: What were your organization’s most frustrating challenges with marketing analytics in 2012?

Then, we asked your peers what they thought about this marketing research. Here’s what they had to say …

 

Interpretation of data

What is interesting is that the top two challenges are related to the interpretation of data, not the collection of data.

We have finally turned the corner on the basic blocking and tackling of data consolidation through technology and processes, and now the most important challenges are focused on how to effectively use the analytics for improved decision making.

It has taken a long time to get to this point, but it is encouraging to see that 42% of respondents stated that acting on data to improve marketing performance was their #1 challenge, followed by combining data from multiple sources to draw correlations and make predictions (41%).

Integrating systems and siloed data finally has fallen to the bottom as most marketers have the technology and tools to do this process. Now we have to do the hard part and make the data talk to us, guide us, and give us insights.

– Cyndi Greenglass, Senior Vice President, Strategic Solutions, Diamond Marketing Solutions

Read more…

Test Planning: Create a universal test planner in 3 simple steps

May 2nd, 2013

One of my responsibilities as a Research Analyst is to manage ongoing test planning with our Research Partners and at times, keeping tests running smoothly can be a challenge.

This is especially true when you consider testing is not a static event – it’s more like a living, breathing continuous cycle of motion.

But even with so many moving parts, effectively managing test plans can be made a little easier with two proven key factors for success – planning and preparation.

Today’s MarketingSherpa blog post is three tips for test planning management. Our goal is to give marketers a few simple best practices to help keep their testing queue in good order.

 

Step #1. Create

Creating a universal test planner everyone on your team can access is a great place to start.

For our research team, we created a universal test planner including:

  • Results from prior testing with our Research Partner
  • Current active tests
  • Any future testing planned
  • A list of test statuses definitions that everyone on the team understands – (test active, test complete, inconclusive, etc.)
  • A brief description of what is being tested (call-to-action button test, value copy test, etc.)
  • A list of who is responsible for each task in the test plan

 

Step#2. Organize

As I mentioned in the previous step, the status of a test can change and, based on the results, so will the ideas and priorities for future testing.

Some tests will move forward in the queue, and others will be pushed back to a later time.

So, to help keep our team informed of changes in the testing environment, we update the planner throughout the day and in real time during brainstorming sessions based on results and Partner feedback.

This allows us to focus our research and testing strategy efforts on expanding on discoveries versus chasing our tails to keep up-to-date.

Read more…

Marketing Data: Using predictive analytics to make sense of big data

December 21st, 2012

One buzz word/phrase that became very popular in business circles this year was “big data.” And, even though the term is trendy and probably overused, the overall concept has major implications for marketers.

Marketers are awash in campaign data, more so now than ever before. Email marketing campaigns produce data about open rates, clickthroughs, unsubcribes, and more. Visitor activity on company websites can be tracked, and in the case of registered users or leads flagged for scoring, that activity is not only tracked but also attributed to a particular individual.

Elements tracked can include the website visit itself and activities such as downloading Web content or watching embedded video. That tracking can get pretty granular, such as combining a series of website activities, or exactly where in an embedded video the viewer stopped the playback.

Taken as discrete pieces, all these data points are essentially meaningless. Taken together, they can provide insight into the tracked individual. Furthermore, subjected to deeper analysis, they can provide insight into what the most promising prospect or customer with the most long-term value looks like for the company.

This is where predictive analytics come into play. To provide more insight into predictive analytics and big data, I interviewed Omer Artun, CEO and founder of AgilOne, a cloud-based predictive marketing intelligence company. Omer also has an academic background in pattern recognition, data mining and complex systems.

  Read more…

Digital Marketing: Understanding customer sentiment

August 3rd, 2012

Yuchun Lee, Vice President and General Manager, Enterprise Marketing Management Group, IBM, understands analytics and metrics are, as he puts it, “a huge part of marketers’ lives.”

He says the question then becomes, “How much time and energy should marketers spend checking out metrics and worrying about the analytics of their efforts?”

Yuchun adds, “I think the market trend has been moving towards incorporating more and more data and analysis of customers.”

This includes learning what messaging is relevant to your customers.

“Being able to analyze the data to understand a customer becomes paramount for every business,” explains Yuchun.

This data analysis allows you to determine consumer sentiment, which in turn provides a framework for relevant communications. 

Read more…

The Content Marketing Tipping Point: Marcus Sheridan’s magic number is 30, what is yours?

July 13th, 2012

“Content is the best sales tool in the world.”

After exploring his analytics, Marcus Sheridan, co-owner, River Pools and Spas, discovered that potential customers who viewed 30 pages on his website had an 80% closing rate, compared to the average closing rate of 15-20%.

Alongside Luke Thorpe, MECLABS’ Multimedia Specialist, I grabbed Marcus before his Email Summit 2012 keynote, to hear his ideas of content tipping points.

 

 

You can see Marcus Sheridan’s full keynote, along with seven other sessions on the MarketingSherpa Email Summit 2012 DVD.

 

Related Resources:

Most Emails Stink as a Sales Tool. Here’s Why… (via The Sales Lion)

Content Marketing and SEO: The world doesn’t need another blog post

Brand-side Marketing How-to: 6 content marketing lessons learned from a B2B IT company

Overall Content Marketing Strategy Leads to 2,000% Lift in Blog Traffic, 40% Boost in Revenue

Marketing Intelligence: 3 ways to better serve your customers (and your bottom line)