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The Iterative Marketing Podcast
23 minutes | Sep 29, 2017
Diversity in Personas
Show Notes When you re brainstorming and determining personas for your marketing strategy, how detailed do you need to be? In this episode, Elizabeth and Steve discuss the risks and benefits of adding Diversity to your Personas. Congrats and welcome back to co-host Elizabeth and her new baby girl! Should personas be diverse? Standard line until recently: Persona should match the gender and ethnicity of the majority of the audience Too much diversity creates cognitive dissonance – we want to focus on personas with our basic animal brain. When we have too much detail and start thinking too hard you lose sight of the majority and the necessary details Start to focus on how that minority personality is so special, rather than how the general persona needs to be addressed Charity Break: DonorsChoose.org But do we actually need that? Sometimes the extra level of detail and personality is good Steve s anonymous client example: membership-based group striving to build diversity They needed to address all different personas Consider the shared frustrations and aspirations of the whole So in that instance, a lack of diversity in personas could lead to inadvertently making marketing materials that kept the status quo. That made minorities feel uncomfortable, even as they made the majority feel comfortable. But to make the personas minorities would bring along a lot of extra baggage. A lot of unsaid struggle or discrimination. They would make them into something the majority of the audience was not. The solution A second set of personas may be necessary Consider the goals of the organization When diversity is a goal, a second set is appropriate Build for the majority and put that persona first, then consider the minority and build for that Implement a second set of collateral if you feel it s necessary instead of revising the original Don t push the diversity goal away from the majority Where is this applicable? Membership organizations Recruitment marketing – HR depts for example Employer branding marketing to employee base How are these minority personas different? Psychographics are the big area of difference (fears & aspirations, desires, needs) Day in the life and background should be similar Conclusion Are you talking about a minority? Use these resources https://datausa.io https://www.bls.gov/cps/cpsaat18.htm If your goals are membership or any diversity growth, definitely build your majority first, then double check against your minority personality. If applicable, also address the minority. If you do have both majority and minority, every marketing piece should be built with the majority audience in mind, and then carefully examined through the eyes of the minority persona to make sure it has the same desired effect. Summary We hope you want to join us on our journey. Find us on IterativeMarketing.net, the hub for the methodology and community. Email us at email@example.com, follow us on twitter at @iter8ive or join The Iterative Marketing Community LinkedIn group. The Iterative Marketing Podcast is a production of Brilliant Metrics, a consultancy helping brands and agencies rid the world of marketing waste. Producer: Heather Ohlman Transcription: Emily Bechtel Music: SeaStock Audio Onward and upward! The post Diversity in Personas appeared first on Iterative Marketing.
25 minutes | Sep 1, 2017
Moving From Attribution To Contribution
Show Notes Attribution Modeling, or the ability to connect a sale with a specific marketing effort, is a hot topic. But the model is flawed. In this podcast episode, Elizabeth and Steve introduce Contribution Modeling, a well-rounded way to measure the ROI of our marketing tactics. What is Attribution Modeling (3:31 – 5:09) A measurement for return on investment (ROI) for marketing at the tactical level Three common models include: Last-Touch Attribution: the last marketing tactic a prospect touched before they became a sale First-Touch Attribution: the first marketing tactic a prospect touched before they became a sale Multi-Touch Attribution: spreading revenue across multiple touch points based on weight or importance in the customer journey Why Attribution Modeling is Flawed (5:10 – 9:50) All marketing tactics work together and support each other, but marketers are in the dark as to how. If revenue is divided between marketing tactics, it doesn t tell the full story. Without any one tactic, other marketing tactics will be hurt in the program. Example: If a Last Touch Attribution Model shows email converted the sale, it may wrongly suggest that all tactics before the email were ineffective. Charity Break – Operation Homefront – (9:51 – 10:38) Introducing The Contribution Model (10:38 – 13:30) This model asks: what contribution did a marketing tactic or touch point make to creating a sale? This can be answered by looking at what percentage of customer journeys have a touch point that resulted in a sale. Example: Do you have evidence that a sale can occur without someone reading a blog post? How to Track Correlation (13:31 – 16:41) Data is needed in a third party system to track what marketing inputs and outputs were part of a prospect s customer journey. Some marketing automation systems can use special automations to track this by appending tactics to the contact and account levels, indicating what touchpoints occurred on the journey. But, There is a Catch (16:42 – 22:12) Marketers who create a consistent experience ensure every prospect hits an intended tactic. In doing so, they also made sure every sale includes the same tactics. This paints a picture that correlation equals causation, which isn t necessarily true Example: One study found a correlation between people who like candy corn and those who are not concerned with home security. Luckily, most marketers aren t perfect and purposely introduce inconsistency in their customer experience. Summary (22:13 – 23:47) We hope you want to join us on our journey. Find us on IterativeMarketing.net, the hub for the methodology and community. Email us at firstname.lastname@example.org, follow us on twitter at @iter8ive or join The Iterative Marketing Community LinkedIn group. The Iterative Marketing Podcast is a production of Brilliant Metrics, a consultancy helping brands and agencies rid the world of marketing waste. Producer: Heather Ohlman Transcription: Emily Bechtel Music: SeaStock Audio Onward and upward! The post Moving From Attribution To Contribution appeared first on Iterative Marketing.
34 minutes | May 25, 2017
How To Shift Your Organization To Be Persona-Centric
Show Notes Persona-centric marketing helps organizations realize higher conversion rates and customer retention, but making the shift from product and service marketing to personas is not always easy. In this podcast, we explain what persona-centric marketing is, and how you can overcome the 6 common challenges faced by organizations who try to adopt persona-centric practices. What is Persona-Centric Marketing? (3:01 – 4:48) Persona-centric marketing is focusing on meeting the needs of the prospect or customer at a personalized level based on the information found in a persona: demographics, psychographics and where they are in the customer journey. Benefits: More clarity or focus in production of content or creative Higher conversion rates or close rates because the content is personalized for that prospect Higher customer retention because our personalized marketing makes audience members feel like they belong Segmenting our audience through personas means the data we get back out will also be segmented 6 Challenges Faced by Organizations Trying To Adopt Persona-Centric Practices (4:50 – 13:53) 1. No one is taking the reigns to make it happen Solution: Become the change agent, even if the shift to personas doesn t extend beyond your department Back up your work by referencing thought leaders who are in support of this shift like Brian Solis, Joseph Jaffe, Kerry Bodine, Chip Bell and Adele Revella 2. There is no motivation or sense of urgency to get this going Solution: Paint two pictures of the organization: one that shows what is broken now, and one of how things could look in the Utopian future. The broken picture highlights key elements of the customer journey that would benefit from persona-centricity. Ex: Moments that create a poor customer experience The Utopian future shows how the customer experience would improve as a result of changes to the customer journey and how that translates into lower customer acquisition dollars, higher customer retention etc. Charity Break – Alzheimer’s Foundation of America; – (13:54 – 14:51) 6 Challenges Faced by Organizations Trying To Adopt Persona-Centric Practices (Continued) (15:30 – 31:09) 3. The organization is siloed because of different business lines, or because of different parts of the customer journey Solution: Focus on communication. Make other groups in the organization aware of the work you re doing and invite them to participate early and often. 4. We don t have buy-in from the C-Suite Solution: Start with a briefing at the C-Suite level. Provide case studies from other thought leaders. Make the personas and customer journeys visual and easy to understand. 5. There is a gap in education, training or awareness Solution: Turn personas into a visual display for the entire team to see and make sure company-wide reporting includes references to the personas and customer journey. Also include references to education materials. 6. There are hurdles maintaining momentum Solution: Remember that persona-centric marketing can be phased in over time. It doesn t need to be done all at once. Focus on transforming new content or creative with personas When time allows, refresh old or existing content in small chunks over time Summary (31:10 – 33:30) We hope you want to join us on our journey. Find us on IterativeMarketing.net, the hub for the methodology and community. Email us at email@example.com, follow us on twitter at @iter8ive or join The Iterative Marketing Community LinkedIn group. The Iterative Marketing Podcast is a production of Brilliant Metrics, a consultancy helping brands and agencies rid the world of marketing waste. Producer: Heather Ohlman Transcription: Emily Bechtel Music: SeaStock Audio Onward and upward! The post How To Shift Your Organization To Be Persona-Centric appeared first on Iterative Marketing.
28 minutes | May 19, 2017
Why Brand Matters
Show Notes Today s episode is all about discovering the impact of brand on your organization s bottom line. While many companies want to focus their investment on Do-state marketing, it s actually less expensive to invest in brand and build affinity earlier in the customer journey. What Do We Mean By Brand? (3:45 – 5:34) Brand: the level of awareness and emotion toward an organization; also, how your audience perceives your organization A strong brand is comprised of three things: The target audience is aware of the brand The target audience has a strong emotional feeling toward that brand The target audience thinks and feels consistently about the brand Resources: Podcast Episode 2: Defining Your Brand Podcast Episode 11: Using Brand Vectors To Measure & Align Your Brand Podcast Episode 12: Bringing Your Brand To Life Benefits of Having a Strong Brand (5:35 – 13:15) Humans make decisions based on emotions A strong brand can short-circuit decision making and keep an organization from competing on price alone Brand investment means investing in a relationship with an audience not yet ready to buy Being along for the customer journey positions your brand as a known entity that is sought after at the point of sale This plays on the law of reciprocity in Robert Cialdini s book Influence Close rates, cart abandonment, time-to-close are all metrics that reflect the influence of brand Charity Break – Red Rover – (13:16 – 14:19) Brand Investment is Less Expensive In The Long Run (14:20 – 17:39) Investing in brand is less expensive than investing in Do-state tactics The cost of reaching a Do-state audience is expensive because everyone else is bidding on that same audience Investing in an audience s interest builds affinity earlier in the customer journey When we do not compete on point-of-intent, we can buy our audience at a lower rate Investing in Brand Limits Downside Risk (17:40 – 21:31) Brand is like an insurance policy for when there is an over-reliance on a Do-state tactic Ex: A company s margins covered their AdWords costs until Google changed its search algorithm and its deluge of traffic turned into a trickle. If you build up a strong brand, your audience will seek you out by name when they are ready to buy, even if an algorithm changes or SEO breaks Ask yourself: is your brand strong enough to withstand a new competitor coming to market, or an algorithm change? How To Incorporate More Brand Into Marketing Efforts (21:33 – 25:35) Personas and segmentation – focus your brand investment on a targeted audience segment rather than trying to target everybody, or boil the ocean. Customer journey – understand your audience s motivations to build awareness beyond your brand s features and benefits Brand definition – develop a personality for your audience to fall in love with, or the emotion you want to create in your audience. Summary (25:36 – 27:53) We hope you want to join us on our journey. Find us on IterativeMarketing.net, the hub for the methodology and community. Email us at firstname.lastname@example.org, follow us on twitter at @iter8ive or join The Iterative Marketing Community LinkedIn group. The Iterative Marketing Podcast is a production of Brilliant Metrics, a consultancy helping brands and agencies rid the world of marketing waste. Producer: Heather Ohlman Transcription: Emily Bechtel Music: SeaStock Audio Onward and upward! The post Why Brand Matters appeared first on Iterative Marketing.
29 minutes | May 9, 2017
How To Run An Effective A-B Test
Show Notes A-B testing is the core of experimentation. With the right execution, it not only provides uplift in click-through rate and conversions, but also serves as an audience insight generator. This podcast explores how six things sample size, random sample, controls, duration, statistical confidence and testing for insight can make an A-B test effective and beneficial to all departments in an organization. What is an A-B Test (2:59 – 4:29) The testing of two different versions of the same content to determine which results in a better outcome A-B tests are important to Iterative Marketing because they are the core of experimentation Can apply to any medium (print, banner ads, direct mail, email, etc.) Tools for A-B testing (Optimizely, Convert, Google Optimize) are becoming more user-friendly. Many testing tools are embedded in platforms like Marketo and Pardot. Why A-B Testing Is Important (4:30 – 6:06) Produces an impact on our marketing that is based on data, rather than gut feelings or personal preference for the best way to allocate marketing resources Helps multiple departments find out definitively what the audience prefers Six Things That Make an A-B Test Work (6:07 – 7:06) Sample size Random sample Controls Duration Statistical confidence Testing for insight 1) Sample Size (7:07 – 9:42): The number of times you need to present version A or version B to determine a clear winner Sample size calculators can help you determine how big of an audience you need to achieve 90% or 95% confidence. Marketers should not attempt a test if you are not going to have a big enough sample. It s important to determine this BEFORE you start the A-B test to not waste resources. 2) Random Sample (9:43 – 11:42): Sample must not only be large enough, but it must also be segmented randomly. Many tools do this for us Charity Break – American Foundation for Suicide Prevention – (11:43 – 12:30) 3) Control (12:32 – 17:10): The efforts put in place to make sure the thing being tested is the only thing that s different between the experience of those getting version A and those getting version B. Test only one variable at a time so you know which change is producing the result Design version A and version B as exact replicas in layout, font size, color etc. except for the variable being changed to isolate what is being tested Run the test with version A and version B at the same time so breaking news, weather, or other elements, do not change the outcome of the test Make sure your audience has not seen either version before the test starts 4) Duration (17:11 – 18:49): How long to run an A-B test In our experience, do not run a test longer than 90 days because too many factors may impact the result If testing relies on cookies in a browser, they are not reliable for more than a few weeks A test should be run long enough to factor in various business cycles Ex: Running a test Thurs-Mon favors weekend habits, while running it Mon-Thurs favors weekday habits. 5) Statistical Confidence (18:50 – 21:35): A complicated math equation to help us determine if an A-B test is repeatable, or the result of chance We have an easy-to-use A-B confidence calculator on our website. Simply plug in your impressions or sessions compared to clicks or conversions to find out the statistical significance Usually represented as a percentage, which represents probability. Ex: If results are 95%, it means if you ran the same test 100 times, you d expect 95 of those to work out with the same winner. Resource: Podcast Episode 22: Let s Talk Statistics Marketers usually strive for 95% confidence, although we have taken the results of a test with 90% confidence as usable information, or as a good working hypothesis until a better test can be run. 6) Testing for Insight (21:36 – 26:12): Learning more about our audience beyond gaining an increase in click-through rate or conversions. The best A-B tests test the psychographics of an audience segment to gain insight that can be applied to multiple departments in an organization. To get started, brainstorm a hypothesis for how you expect your audience to act and why. Then, build an A-B test to validate or invalidate that hypothesis. Ex: A bad hypothesis would be The headline, Don t make these three massive mistakes will result in more conversions than the headline, Use these three tips to amp-up your results. This hypothesis is not audience-specific and is very specific to this piece of content. Ex: A good hypothesis would be Mary (our persona) will be more likely to convert when presented with an offer that limits her risk because Mary prefers avoiding risk over new opportunity. Summary (26:14-28:49) We hope you want to join us on our journey. Find us on IterativeMarketing.net, the hub for the methodology and community. Email us at email@example.com, follow us on twitter at @iter8ive or join The Iterative Marketing Community LinkedIn group. The Iterative Marketing Podcast is a production of Brilliant Metrics, a consultancy helping brands and agencies rid the world of marketing waste. Producer: Heather Ohlman Transcription: Emily Bechtel Music: SeaStock Audio Onward and upward! The post How To Run An Effective A-B Test appeared first on Iterative Marketing.
35 minutes | Apr 26, 2017
With Measurement, The Sky’s The Limit
Show Notes There are four components of effective marketing measurement. This week s podcast explores how measuring investment, outcomes, attribution and time can help us determine ROI, so we can finally have an answer to our client s biggest question: is my marketing working? Four Components of Effective Measurement (02:40 – 4:49) Investment – the hard and soft investments that determine ROI Outcomes – what it means to be successful Attribution – which investments take credit for which outcomes Time – how time impacts your measurement and reporting Why We Chose This Topic (04:49 – 06:30) Clients often ask what is my ROI? or is my marketing working Many organizations measure for measurements sake and look at the wrong metrics Most marketers aren t analysts by trade. Understanding how to make measurement actionable doesn t come naturally. #1 – Investment (06:30 – 09:00) Knowing the hard and soft costs of investment is the first step to calculating ROI Investment includes money and resources, or where time and effort has been going Ex: The investment behind a company blog includes the cost to promote blog posts, and the time required to write, edit and publish posts. Ex: The investment of a pay-per-click campaign includes the hard costs of what we pay per click. Soft costs include internal management of the campaign. #2 – Outcomes (09:02 – 16:00) This component focuses on discovering if we moved the needle. The trick is to know what needle we are supposed to be moving, or what is the right metric? Knowing our key performance indicator is essential. KPIs indicate success of a marketing program. Some programs have multiple KPIs. Some are leading indicators, others are trailing indicators. Leading indicators: Things we can report on today that let us know we are on the right path. Trailing indicators: Things that we can report on in the future that let us know if we have overall success. Ex: In a pay-per-click campaign, the leading indicator would be clicks and sales. Trailing indicators would be lifetime value of a customer. Ex: in a company blog, the leading indicator would be dwell time on blog posts, shares or repeat visits. Trailing indicators would include new clients or retained clients. Charity Break – Waterkeeper Alliance – (16:00 – 16:42) #3 – Attribution (16:43 – 23:47) Attribution is how to connect investment to outcomes. There are a number of attribution models to help us know which investments result in which outcomes. First and last touch attribution are simple models of attribution. They say that one outcome is the result of one investment. These are inaccurate and don t take the entire customer journey into consideration. Multi-touch attribution is more complex, but more accurate. This spreads the responsibility of the sale across multiple touchpoints. Digital marketing uses tagged URLs to help us know when a touchpoint occurs and which investments are responsible for that touchpoint. Traditional marketing uses surveys of new and existing customers to see what they can recall from advertising. They also look at probability that a prospect saw a piece of marketing. #4 – Time (23:48 – 33:00) To make metrics actionable, we must measure our data across a length of time. Trends and experiments play into this. Trends tell us how past performance of a metric can predict the future success or failure of our marketing. Experiments test how an output would change if we changed one input of our media. It tests how it would change the trend we ve identified. Marketing programs need enough time for data to accumulate so it s actionable Iterative Marketing uses marketing programs, which do not have a start and end date Gathering enough data allows us to have statistical significance in analysis Our cadence with analysis and experimentation is monthly, with weekly checks on the media. Heavy analysis occurs at the end of the month. Summary (33:05 – 34:08) We hope you want to join us on our journey. Find us on IterativeMarketing.net, the hub for the methodology and community. Email us at firstname.lastname@example.org, follow us on twitter at @iter8ive or join The Iterative Marketing Community LinkedIn group. The Iterative Marketing Podcast is a production of Brilliant Metrics, a consultancy helping brands and agencies rid the world of marketing waste. Producer: Heather Ohlman Transcription: Emily Bechtel Music: SeaStock Audio Onward and upward! The post With Measurement, The Sky’s The Limit appeared first on Iterative Marketing.
39 minutes | Apr 5, 2017
Changing the Relationship Between Sales & Marketing
Show Notes Changes in consumer behavior have impacted both sales and marketing in positive and negative ways. This podcast explores how sales and marketing must adapt to meet the demands of this new consumer behavior and gain a new appreciation for each department s role in the organization. Consumer Behavior Impacts Sales & Marketing (2:51 – 15:19) Consumers interact with sales much later in buyer s journey as one of the last touch points. 4 forces have changed this relationship: Internet provides greater access of information to buyer to do own research. Learn about marketing s Zero and First Moments of Truth. Globalization and virtualization levels the playing field between industries. Example: 99Designs impact on graphic designers. Expectation of personalized service changes how we interact with products. Consumer tolerance for irrelevant messages is dropping and is a brand turn-off. On-demand culture has lack of patience for back-and-forth of sales Consumers used to reach out in Think state, but now waiting until Do state. Study: Buyers do not contact suppliers directly until 57% of purchase process is complete. Consumer feels in driver s seat when reaching out to sales and is armed with information and possibly talking to other vendors. Charity Break – The Mission Continues – (15:20 – 16:08) How Change Impacts Future of Sales & Marketing (16:09 – 23:34) Sales Sales being present earlier in the buyer s journey will help influence consumer opinion Adding value beyond the product or service occurs in multiple sales approaches: consultive selling, SPIN selling and becoming a trusted advisor Personal experience shows sales teams understand these concepts but are not applying them Sales losing the opportunity to be an influence earlier in the buyer process Puts greater demand and pressure on marketing Sales should not only talk with prospect sooner, but offer a personalized experience Marketing Continues to generate demand and deliver leads to sales Needs to bridge the gap with sales as an overlap, not a hand-off. Technology helps us through marketing automation Working with sales produces a win-win for all sides Marketing can influence the decision making process Consumers can access resources they want in their own time Sales reserves their time for following up with leads ready to buy now How Marketers Can Make This Change Positive For The Organization (23:35 – 37:21) Our mindsets must shift from pushing a product or service to supporting the needs of the prospect It s not about what we or sales wants to say, it s about what the prospect needs to hear. Example: Customer-centric messaging We can accomplish this shift in a few ways: Understand the different interpretation of shared vocabulary like lead, contact/person, targeting, account/company Understand how sales thinks Example: sales is focused on closing the deal while marketing is interesting in changing hearts and minds ABM (Account Based Marketing) is a great opportunity to align marketing activities with sales activities Align goals and agree on standards by defining SQLs, MQL, setting up SLAs and creating a feedback loGenerate shared vocabulary through Personas and Customer Journeys Generate shared vocabulary through Personas and Customer Journeys This helps create a consistent experience for the prospect and aligns marketing and sales by documenting each other’s efforts We hope you want to join us on our journey. Find us on IterativeMarketing.net, the hub for the methodology and community. Email us at email@example.com, follow us on twitter at @iter8ive or join The Iterative Marketing Community LinkedIn group. The Iterative Marketing Podcast is a production of Brilliant Metrics, a consultancy helping brands and agencies rid the world of marketing waste. Producer: Heather Ohlman Transcription: Emily Bechtel Music: SeaStock Audio Onward and upward! The post Changing the Relationship Between Sales & Marketing appeared first on Iterative Marketing.
27 minutes | Feb 28, 2017
Everyone Hates Advertising…Or Do They?
Show Notes Does everybody hate advertising? A Marketing Land article says yes, but a recent study by HubSpot says 68% of consumers are actually OK with it if the message is relevant to them. So why the dissonance? In this episode, we explore why consumers are paying to opt-out of advertising with new technology, and how marketers can combat this trend by transforming their advertising from something hated, to something appreciated. Advertising from Consumer Perspective (03:13 – 08:24) Consumers enjoy, or put up with, advertising when: It informs them of something they don t know about, but need It provides a form of entertainment The message is aligned with their needs at their point in the customer journey Advertising from Marketer Perspective (08:25 – 09:33) Marketers enjoy advertising because it can: Drive demand for their product or service Increase brand awareness or trust with consumer Make money What Makes Advertising Hated? (09:34 – 16:42) The difference in how consumers and marketers perceive advertising is the heart of why advertising is so hated Study: The only online group hated more than advertisers are hackers/online criminals Study: 64% of consumers say ads today are annoying or intrusive; 68% say it s OK if it s relevant to them Annoying: The Science of What Bugs Us, reveals that unpredictability makes something annoying. A lot of modern advertising is unpredictable. What Marketers Should Know About Advertising (16:43 – 25:58) Without a relevant or compelling message, consumers will tune us out Paid technologies like satellite radio, YouTube, YouTube Red, Roku, Spotify, Pandora, Hulu, Amazon, Neflix, make it easy for consumers to opt-out of advertising Study: Average American watches up to 5 hours of TV per day but they re not necessarily seeing more advertisements Study: Print-only readership declines from 62% in 2011 to 51% in 2016 Global use of AdBlockers has grown by 41% Producing advertising that serves the audience and the marketer can help people appreciate advertising again Example: Big Bear Mountain Resort Radio Commercial Charity Break – ALS Association – (26:01 – 26:50) How To Create Compelling Advertising (26:51 – 28:35) Provide utility that cannot be provided elsewhere Do not compete with the media experience your advertising is a part of (Ex: pop-ups; pre-roll) Become a part of the media experience (Ex: native, sponsorships) How Iterative Marketing Can Help (28:36 – 32:35) Segmentation: Put your target audience into buckets based on their interests B2B: this could be industries or market segments B2C: this could be product categories Persona Targeting: This psychographic profile give us insights into how the customer perceives the world and makes decisions Allows us to tailor our messaging Data Mining: Use first-party data and build rich cookie pools to find people who match your persona profiles and align with your products and services Deliver Content At Right Time & Place Journey State Targeting Align advertising with where customer is in buyer journey Provide bridge content so customer can advance through buyer journey Channels Traditional media provides broad brand awareness Programmatic or social targets consumer where their interest lies Summary (32:26 – 35:01) People don t necessarily hate advertising if it s relevant to them Advertising should provide utility and complement the media experience Preparing a segmentation strategy, using data and finding the right channels will in theory make people happier with your advertising We hope you want to join us on our journey. Find us on IterativeMarketing.net, the hub for the methodology and community. Email us at firstname.lastname@example.org, follow us on twitter at @iter8ive or join The Iterative Marketing Community LinkedIn group. The Iterative Marketing Podcast is a production of Brilliant Metrics, a consultancy helping brands and agencies rid the world of marketing waste. Producer: Heather Ohlman Transcription: Emily Bechtel Music: SeaStock Audio Onward and upward! The post Everyone Hates Advertising…Or Do They? appeared first on Iterative Marketing.
47 minutes | Feb 14, 2017
Deep Dive Into Grow And Give
Show Notes This is the final episode in our Deep Dive podcast series, which explored the 5 customer journey states. Previous episodes examined See, Think and Do.This episode is all about the importance of personalized content for the end phase of the buying journey: Grow and Give. We will discuss the goals, appropriate content, targeting methods, and measurement for the current customers that comprise the Grow and Give states. Overview of Previous States (04:55 – 07:42) Find a high-level overview of all 5 journey states in Episode 16 A Deep Dive Into See State (Episode 23) – the audience is qualified, but not thinking about purchasing your product/service or changing vendors. A Deep Dive Into Think State (Episode 27) – the audience is qualified AND thinking about purchasing or changing vendors, BUT has no timeline or commitment to do so A Deep Dive Into Do State (Episode 31) – the audience is qualified AND has a commitment to themselves or someone else to purchase within a specific period of time Grow – the happy and loyal customer Give – the happy and loyal customer who believes in your product or service so much they would refer a friend or family member Read Steve s blog, See – Think – Do: A Framework for Understanding Your Prospect s State of Being as a reference. The Importance of Targeting Grow and Give (07:45 – 12:00) The first rule of many businesses is to retain current customers and build a loyal following. Yet, many companies focus solely on customer acquisition rather than customer retention even though it can cost 7 times more to acquire new customers. Oftentimes, companies stop nurturing their newly acquired customer after the sale. This is a huge mistake because the probability of selling to a current customer is higher than a new prospect. Plus, it s cheaper. The Goals For Grow and Give (12:05 – 14:40) Goals For Grow Reinforce the brand and its key message and create stickiness Increase revenue through upsells and cross-selling Goals For Give Give customers the tools and messaging to spread the word of our products/services by using language in alignment with our brand, and motivate them to do so.Charity Break – Set Up For Students (20:45 – 21:40) Appropriate Content For Current Customers (14:45 – 26:15) The purpose of content for Grow: Reinforce the brand s personality and core values so that customers remember why they love our products or services. Examples include: Mailchimp email newsletter Zoho product suite blog post: Our Product Strategy: How Zoho Services Fit Together Sony PR: Six things you didn’t know you could do with PlayStation VR. The purpose of content for Give: Reinforce the brand s personality and core values so that customers know how to talk about us and use the correct verbiage. Examples include: Mailchimp email newsletter because it demonstrates product features while reinforcing that core brand philosophy Nimble regularly asks its users to leave reviews on sites like G2Crowd Content and call to actions can differ between the Grow and Give states. Charity Break – Books For Africa (26:30 – 27:20) Targeting Methods for Current Customers (27:25 – 39:10) Email Marketing Direct Mail Mobile Messaging (SMS) CRM to target social media advertising (Facebook, Twitter) CRM to target web/mobile display advertising (AdRoll) Targeting current customers varies depending on the sales model. Direct – easy because existing databases can be leveraged Distributor – more complicated, but offer rebates, coupons and discount codes work well. Warranty registrations are another good targeting method. When determining if a customer is in the Grow or Give state, we can detect these signals in our marketing automation and via retargeting based on the content they engage with on a website or social media. Measuring Success (39:15 – 44:00) Grow Attributable revenue from marketing activities Churn rate Give Referrals Reviews Summary (44:05 – 45:45) Current customers fall into one of two states – Grow or Give Grow are those customers that have purchased your product and would choose to do so again Give are those customers who have purchased your product and love your product so much they tell others about it The content we create to support our current customers should: Reinforce brand personality and core value proposition Make the ask clear and obvious Create a sense of urgency, if possible Reinforce the purchasing rationale so they can justify the emotional decision they made to themselves and others Targeting methods will be the same for both Grow and Give and are largely database driven Ability to use your database depends on if you sell directly. Measurement Grow Attributable revenue from marketing activities Churn rate Give Referrals Reviews Social advocacy We hope you want to join us on our journey. Find us on IterativeMarketing.net, the hub for the methodology and community. Email us at email@example.com, follow us on twitter at @iter8ive or join The Iterative Marketing Community LinkedIn group. The Iterative Marketing Podcast is a production of Brilliant Metrics, a consultancy helping brands and agencies rid the world of marketing waste. Producer: Heather Ohlman Transcription: Emily Bechtel Music: SeaStock Audio Onward and upward! The post Deep Dive Into Grow And Give appeared first on Iterative Marketing.
33 minutes | Jan 31, 2017
Getting The Most From Google Analytics
Show Notes Last week we talked about the proper set-up and tools for effective experiments. Since analytics are vitally important to successful experimentation (and essential to Iterative Marketing); therefore, this episode is dedicated to getting the most from Google Analytics. In this episode, we discuss how to obtain clean data, track conversions that will meet objectives, pass information into Google Analytics, and how to pull back out customized reports. Accessing Google Analytics (02:20 – 06:53) To access GA, reach out to your system administrator or visit google.com/analytics and follow on-screen instructions to start the process. Tips For Getting Clean Data Into Analytics (06:55 – 14:04) Block internal IP addresses \ from your primary GA view Block other bots by Selecting the bot blocking box within the view settings. Filter traffic from other hostnames by implementing a hostname filter. Limit fake traffic from referral spam Moz explains the origin of this spam and how to get rid of it. Review network domains and service providers that have a high bounce rate or really low time on site; filter appropriately Tracking Actions That Matter (14:05 – 20:45) We can track two types of conversions: transactions and micro-conversions Transactions are directly tied to marketing objectives or measurements of success for the organization. Examples of transaction include a checkout on an e-commerce site, a newsletter sign-up, or a sales lead Tracking these is usually pretty straightforward. If it s e-commerce, the platform or a plugin will automatically pass the transaction data to GA. If not, a trigger can be set-up in Tag Manager. Micro-conversions are not as cut and dry as transactions but indicate that we re on the right track. Examples of micro-conversions include video views, dwell time on a page, scroll depth, add-to-cart, specification downloads, etc.micro-conversions. Some of these things are easier to track within Google Tag Manager, others are more difficult and require developer involvement For dwell time, we recommend a plugin by Rob Flaherty called Riveted. ScrollDepth (also from Rob Flaherty) passes information on how far the visitor has scrolled For tracking YouTube videos, LunaMetrics has a great plugin Charity Break – Set Up For Students (20:45 – 21:40) Getting More Detail on the Traffic (21:42 – 29:42) It s important to pass as much information about the traffic we are generating into GA as possible so that we have options when it comes to breaking down the results. Below are a few options ranging in complexity: URL Tagging (22:55 – 24:53) Passes information into GA about where the traffic is generated and what is known about that traffic At a minimum, a campaign name and source must be passed so that traffic can be analyzed from one traffic source and/or one campaign in Facebook, Twitter, or your display ad platform against the next Use the Google Analytics Campaign URL Builder Custom Dimensions (24:54 – 26:50) Custom dimensions provide additional ways to group the sessions on a site outside of the stock Campaign, Source and Medium segments that come with GA These are useful for breaking down your traffic into different buckets to compare what s sending the good traffic vs. the bad traffic. Tip: go into the admin section of your analytics account and under the web property column find custom dimensions. It s under custom dimensions. Campaign IDs vs. URL Parameters (26:51 – 29:40) Once we have our dimensions, now we have to get data into them Instead of tagging the URL with a bunch of utm parameters for each of our custom dimensions, we put a single utm parameter called a Campaign ID at the end of each link that is published Gives us the ability to link the visitor s session with any number of pieces of information by which we might want to segment our traffic A spreadsheet must be created that includes a column containing a unique campaign ID for each link we want to track; upload to GA using the import tool RESOURCE: Google Analytics Import ToolDon t forget: we must import our data BEFORE we send any traffic using that campaign ID. Custom Reports (29:42 – 31:10) Rather than constantly tweaking the stock report, use the customization tab at the top of GA Allows you to utilize dimensions to break up traffic into buckets and sub-buckets and display specific data There are two views: flat and explorer Flat is useful for exporting into Excel or Google Sheets to link up with other data. Explorer is useful for analysis right within the tool and shows graphs that allow for a deeper dive. Summary (31:15 – 32:15) This episode has only scratched the surface of the power of GA. To learn more, we strongly recommend the Google s Analytics Academy. They offer a self-paced course covering, at least at a high level, every aspect of GA. It even has a Tag Manager fundamentals course. We hope you want to join us on our journey. Find us on IterativeMarketing.net, the hub for the methodology and community. Email us at firstname.lastname@example.org, follow us on twitter at @iter8ive or join The Iterative Marketing Community LinkedIn group. The Iterative Marketing Podcast is a production of Brilliant Metrics, a consultancy helping brands and agencies rid the world of marketing waste. Producer: Heather Ohlman Transcription: Emily Bechtel Music: SeaStock Audio Onward and upward! The post Getting The Most From Google Analytics appeared first on Iterative Marketing.
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