Startup Marketing Series: The Scorecard

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startup marke+ng series the scorecard: how to build a customized marke3ng performance dashboard June 4, 2013

description

3-part event created for Bizdom Cleveland as an entrepreneur's guide to marketing success. Session 2—The Scorecard—focuses on how to create a customized marketing performance dashboard.

Transcript of Startup Marketing Series: The Scorecard

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startup  marke+ng  series

the  scorecard:  how  to  build  a  customized  

marke3ng  performance  dashboard

June  4,  2013

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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

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73%  rated  as  escalators  (including  N/A)

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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

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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

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1)  build  brand.

2)  generate  leads.

3)  convert  leads  into  sales.

4)  increase  customer  loyalty.

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“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

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the  scorecard

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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.  

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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.

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Source:  IBM  Global  Chief  Marke5ng  Officer  Study,  2011

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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.

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1)  iden<fy  top  KPIs.

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Define  Founda3on  Projects top  KPIswebsite  visitors  

leads

free  trials  signups

customer  conversions

customer  reten<on  (churn)

recurring  revenue

brand  

leads  

sales  

loyalty  

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Google  Drive  dashboard  

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2)  customize  the  funnel.

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build  brand  (standard  metrics)

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build  brand(SBU  metrics)

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generate  leads  (standard  metrics)

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generate  leads(SBU  metrics)

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convert  sales  (standard  metrics)

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convert  sales  (SBU  metrics)

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increase  loyalty  (standard  metrics)

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increase  loyalty  (SBU  metrics)

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3)  input  and  analyze  data.

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Google  spreadsheet  

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‣ 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  

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‣ 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  

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data  sources  

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‣ 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  

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4)  establish  benchmarks  and  goals.

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build  brand  

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generate  leads  

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convert  sales  

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increase  loyalty  

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5)  update  and  integrate  the  scorecard.

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scorecard  maintenance  process    

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‣ 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    

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Define  Founda3on  Projectsmonthly  reportsprime  goals  funnel  view

KPIs  by  funnel  sec*on

highlights  +  analysis

top  campaigns/projects

priority  ac<ons

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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.

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session  3:  the  gameplan  (june  11)

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paul  [email protected]

@paulroetzer

www.TheMarke*ngScore.com        www.PR2020.com    

thank  you