Product Marketing by Numbers - Objectives, Goals and KPI frameworks

@jonoaldersonDigital Marketing By Numbers

Product ManagementBy Numbers


Jono AldersonHead of Insight @ Linkdex

@jonoalderson

Technical SEO + analytics geek

Closet web developer & WordPress fanatic

https://twitter.com/jonoalderson


It’s frameworks, not data, which drive

success


HIPPO culture

This guy is not an expert at

choosing KPIs.


A lack of direction

The discovery of magical, ‘’interesting’ insight


Analysis Paralysis


The box of lies

The Great Crime of the Analytics Industry


Difficulty articulating success

You can’t say “Hold on, what are our objectives again?”


Obsessive comparison to the past

“How well did we do last time” is lazy.

“How well do we want to do this time?” is better.


Only looking at the clickstream


Using a framework data to fuel your decision-making

Overcome these hurdles with a simple process


You have bespoke data and bespoke needs

Design something from scratch


The HEART Framework

For user-centric focus


Evolving ThisFor larger or established organisations &

products


Objective Goal KPI Key Segments Performance

Be seen as thought leaders

Get people reading and engaging with our content

# triggers of time on page > 2 mins on a blog post (per month) Category, author

# average comments-per-post (rolling)

Double YoY revenue

Increase sales revenue from digital channels

# qualified sales (per month) where the sale had digital attribution Department, channel, product

£ qualified sales revenue (per month), where the sale had digital attribution

Increase customer lifetime value % of new consumers via the website making a repeat purchase within 3 months (rolling, YoY)

Channel, source, campaign, keyword, gender, geographic region, entry page

Average time between repeat purchases (rolling, YoY)

Provide the best customer service

Provide great content and help users find the information they need

% task completion rate (per month) Initiating page, Channel, source, campaign, keyword

% satisfaction rate (per month)

Delta % against average competitor satisfaction rate (roling)

Compete on marketing efficiency

Maintain a high conversion rate to sale

% visitors to macroconversions (per month) Channel, source, campaign, keyword, call type

Increase self-service actions on the website

£ value of microconversions (per month) Microconverion, channel, source, campaign, keyword


Visualise performance with bullet charts







Double YoY revenue


















You’ll need 5 things...


Get your key stakeholders in a room

Go all the way to the top.

You only get once chance...


Remove the elephant from the room

Hansel & Gretel


Get to the top-level objectives

There are no wrong answers


The rulesObjectives must increase revenue, decrease cost or improve brand.

Anything else is probably a goal or a KPI.







Double YoY revenue


















Make your KPIs ultra-specific and document the details

# conversions

# qualified macroconversions

# macroconversions (valuable contact form submissions, valuable phone calls, and offline conversions which cite ‘web’

as source)


Setting Targets1. Calculate average monthly/seasonal variation

2. Normalise any spikes due to known abnormalities and common sense (‘sensible’ is better than ‘perfect’)

3. Trend this forwards (trend() and forecast() in Excel are useful)

4. Modify each time period based on predicted activity and one-off and equity-creating impact

5. Include external/campaign costs







Double YoY revenue


# sales (per month) where the sale had qualified digital attribution Department, channel, product

£ sales revenue (per month), where the sale had qualified digital attribution








Delta % against average competitor satisfaction rate (per month)







Step by step implementation


Pirate MetricsFor agile, growth-focused start-ups &

apps


Self EvaluationFor getting better at this over time


Move from this…


Move from this...


To this.


Tools….come last.


Processes


Build analysis criteria and KPIs into product

specs“How do we know if this is working?”


Encourage gamification of self-

validation.“"I completed a task!“ or “this was useful”

prompts to differentiate between lost/looking


Bringing this together...


You know what success and failure looks like before you

explore or crunch the numbers.

And you know what actions to take depending on what you find


Hippos are locked in to defined performance

definitions.

You’ve removed the opportunity to object, flake, or u-turn


Shortcomings in processes, resource, tools & culture are accommodated for, and can’t

be used as excuses.

Opportunities - not limitations


Decisions are made about the things that matter


Thanks!Any questions?

Jono AldersonHead of Insight @ Linkdex

@jonoalderson



Product Marketing by Numbers - Objectives, Goals and KPI frameworks

Education

Transcript of Product Marketing by Numbers - Objectives, Goals and KPI frameworks