Startup Marketing Series: The Scorecard
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Transcript of Startup Marketing Series: The Scorecard
startup marke+ng series
the scorecard: how to build a customized
marke3ng performance dashboard
June 4, 2013
Define Founda3on Projectsthe backstory — by the numbersenterprise social so-ware company
6 months old
seed funding of $250,000
30 ac9ve customers
avg. 50 users per account at $10 per user ($500/month)
recurring revenue = $15,000/month
seeking Series A funding of $2.5 million
73% rated as escalators (including N/A)
financial stability (3) is a concern.
marke<ng budget (5-‐10%) is a challenge.
brand, leads and sales all high priority.
marke<ng team (1) is weak.
weak customer (3) and lead (2) databases.
lacking cri*cal marke*ng tech solu*ons.
audiences primarily escalators.
source: leon_eye much building work to be done . . .
key findings
top 3-5 key performance indicators (KPIs)?
highest priority marketing needs?
greatest opportunities for growth?
marketing staffing plans?commitment to content marketing?
source: Ethan LoLon
1) build brand.
2) generate leads.
3) convert leads into sales.
4) increase customer loyalty.
“CMOs today are under increasing pressure to provide quan<fiable evidence of how their
marke*ng expenditure is helping the organiza*on achieve its goals.”
— IBM Global Chief Marke3ng Officer Study, 2011
the scorecard
Source: The Chief Marketing (CMO) Council report More Gain, Less Strain.
52%
of marketers do not have a formal scorecard for ra*ng agency performance on an annual basis.
Source: The Chief Marketing (CMO) Council report More Gain, Less Strain.
71%
of clients cited accountability as the main area of frustra*on with agencies, as CEOs and board levels demand greater marke*ng ROI effec*veness.
Source: IBM Global Chief Marke5ng Officer Study, 2011
5-‐step scorecard process
1) iden<fy KPIs.
2) customize the funnel.
3) input and analyze data.
4) establish benchmarks and goals.
5) update and integrate the scorecard.
1) iden<fy top KPIs.
Define Founda3on Projects top KPIswebsite visitors
leads
free trials signups
customer conversions
customer reten<on (churn)
recurring revenue
brand
leads
sales
loyalty
Google Drive dashboard
2) customize the funnel.
build brand (standard metrics)
build brand(SBU metrics)
generate leads (standard metrics)
generate leads(SBU metrics)
convert sales (standard metrics)
convert sales (SBU metrics)
increase loyalty (standard metrics)
increase loyalty (SBU metrics)
3) input and analyze data.
Google spreadsheet
‣ Collect at least 3 months of historical data.
‣ Look for fluctua<ons and abnormali<es.
‣ Insert notes to explain increases and decreases.
populate the scorecard
‣ Google Analy<cs‣Overall site traffic and engagement metrics
‣ Landing page engagement
‣ Ungated content downloads (9p: use tracking codes)‣ Keywords
‣ HubSpot‣ Lead + conversion sources‣ Lead quality score‣ Gated content and forms
‣ Inbound links
sample analy<cs tools
data sources
‣ Social media management solu<ons
‣ followers, likes, subscribers, etc.‣ social engagement
‣ Email soPware
‣ subscribers, list sizes‣ Call tracking soPware ‣ CRM systems
‣ prospects‣ sales
data sources
4) establish benchmarks and goals.
build brand
generate leads
convert sales
increase loyalty
5) update and integrate the scorecard.
scorecard maintenance process
‣ In Google Drive, collabora9on permissions are found under the “Share” buYon in the upper right-‐hand corner.
‣ Determine internal and client contacts that can view and edit the Scorecard.
‣ Tip: Set up your Google spreadsheet so that you receive email no<fica<ons when edits are made.
collabora<on permissions
Define Founda3on Projectsmonthly reportsprime goals funnel view
KPIs by funnel sec*on
highlights + analysis
top campaigns/projects
priority ac<ons
5-‐step scorecard process
1) iden<fy KPIs.
2) customize the funnel.
3) input and analyze data.
4) establish benchmarks and goals.
5) update and integrate the scorecard.
session 3: the gameplan (june 11)