Public Relations & Social Marketing Insight
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Public Relations & Social Marketing Insight
Social marketing, PR insight & thought leadership - from The PR Coach
Curated by Jeff Domansky
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4 Marketing Analytics That Matter for Driving Higher Revenue

4 Marketing Analytics That Matter for Driving Higher Revenue | Public Relations & Social Marketing Insight | Scoop.it

Too often marketers talk about activities instead of outcomes—for example, how many campaigns  they ran, how many trade shows they participated in, how many new names they added to the lead database. These are metrics that reinforce the perception that marketing is a cost center, not a revenue driver.


To change that perception, marketers need to start talking about how their programs impact the whole sales process, with revenue being the core focus.


Instead of seeing marketing activities in isolation, marketers need an end-to-end view of buyer engagement. It’s not about the first “touch” that brings a prospect into the sales funnel, or the last “touch” before signing a deal. It’s about tracking all the touch points at which a prospect connects with your marketing programs, and measuring those multi-touch impacts.


So how do you do it? Here are four marketing analytics for demonstrating marketing’s ability to drive revenue:...

Jeff Domansky's insight:

Here's what matters in measuring social marketing success.

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Strong Brands Always Have More Brand Credits Than Debits: A Starbucks Lesson

Strong Brands Always Have More Brand Credits Than Debits: A Starbucks Lesson | Public Relations & Social Marketing Insight | Scoop.it

The Starbucks Coffee marketing research department is kept busy providing oodles and oodles of insights into the Starbucks brand through yearly brand audits. And take it from this former long-time Starbucks marketer: The company learns a lot from these studies.


However, when it comes to measuring and managing the Starbucks brand on a daily basis, the Starbucks marketing department generally relies on a much simpler method—a brand checkbook.


Just as your personal checkbook has credits and debits, a brand checkbook has credits and debits in the form of brand credits and brand debits. "Brand credits" are business activities that enhance the reputation and perception people have of a brand, and "brand debits" are those that detract from the reputation and perception of the brand....

Jeff Domansky's insight:

How Starbucks measures up using the simple concept of "brand credits and debits." Very interesting concept worth exploring.

Craig S's curator insight, August 7, 2013 3:24 AM

I think this thing is cool

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Dear Marketing World: ROI is NOT A Unicorn

Dear Marketing World: ROI is NOT A Unicorn | Public Relations & Social Marketing Insight | Scoop.it

The problem with social media ROI...

 

While Social Media treats ROI as a mostly mythical creature that people like to read about in hypothetical scenarios, real-life companies are struggling to actually track the ROI of their social media marketing efforts. Consider these statistics that NectarOm (Nectar Online Media) published in a recent study in collaboration with the Socia Media Clubs:

 

Out of 400 people surveyed, 73% do not even track the ROI of their social media efforts.

 

Of the people who do attempt to track the ROI of their social media marketing efforts, 46% said it was not a major driver of revenue.

 

Let’s think about this in the context of the InfiniGraph e-book. They suggest that a single campaign may involve a company spending $5,000 in Facebook ads. Based on the NectarOM study, most companies would not even make an effort to track the return on that $5,000. The companies that would track the investment would, for the most part, find that their ROI was poor return....

Jeff Domansky's insight:

Margie Clayman says marketing must measure and track the right things...

Wilf ILIFFE's curator insight, March 21, 2014 7:30 PM

Reflecting on the presentations and conversations I had at Eye for Pharma this year, I can see that the pharma industry is not alone in relying on vanity metrics to measure their on-line impact.

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Did a Site-Wide Megafooter Increase Sales Conversions for This Luxury Bag Ecommerce Store? | Which Test Won

Did a Site-Wide Megafooter Increase Sales Conversions for This Luxury Bag Ecommerce Store? | Which Test Won | Public Relations & Social Marketing Insight | Scoop.it

Did a Site-Wide Megafooter Increase Sales Conversions for This Luxury Bag Ecommerce Store?

 

[This is a fun test for marketing and social marketing people ~ Jeff]

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The power of storytelling, the key to consumer engagement

The power of storytelling, the key to consumer engagement | Public Relations & Social Marketing Insight | Scoop.it
Brands that succeed draw the consumer with a compelling narrative: Gatorade's replay series was a first-class example...

 

The winning formula for consumer engagement is storytelling. It sounds simple, but we only need to look back through history to see the impact that stories have had on shaping our lives: how we live them, why we live them and what it means to be human.

 

Narratives as powerful as the Bible, to ancient myths and Shakespeare's prose, speak to the heart, teaching us how to relate to one another and guiding us into action. Let's not forget that stories are easier on the ear than detached advertising taglines. Studies of human psychology have found that if we are told something through narrative, we are more likely to relate to the message, absorbing it further and remaining engaged from start to finish.

 

For a brand to appeal to consumers and replicate this empowering engagement, its content must tell a story, one that draws us in, broadens our horizons and delivers added value to our lives....

 

[Nice ROI on content marketing ~ Jeff]

Kristy Leong's comment, August 21, 2013 5:08 AM
@Janessa Bartsch, I totally agree with what you have said about this article. Engaging their consumers throughout the process I believe is a great idea to help promote their brand. Being able to create a story alongside with the brand and the consumer can be a powerful thing and bring in loyal customers. I think that a key point is the story behind they products and its brands. Social media is a great way for people to express how they feel about particular products. I think that the Gatorade reply campaign was a great way to see how men were able to enjoy physical exercise again.
Joly Yuan's comment, August 21, 2013 10:44 PM
Hi jiale I’m very agree with what you have said about this article. Social media is a great way for people to express how they feel about particular products. Most of brand they have an unforgettable brand background of company. Marketers always use those background makes a storytelling to attract customer attentions product. Therefore this is a good way to advertising product. For example Prada which is a very famous internationally brand. When the company want to promote new product then they will come with a truly storytelling. Once customers agree with their concept it means they are successful attract customer heart.
Jayden Cody Lamb's comment, August 22, 2013 1:46 AM
Referring to "Communicating with Consumers - Emotional Responses" and Janessa's insight, the article points out important parts in IMC which all relate to the consumer audience therefore with it being customer driven it is important for the success of the Brand. I agree with Janessa's points and opinion on the matter as the article establishes how well Gatorade developed their consumer appetite and brand awareness with a successful campaign driven towards football fans and this sports drink.
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US CEOs: Marketing Not Prepared For Expected Tech Advances | Shelley Kramer

US CEOs: Marketing Not Prepared For Expected Tech Advances | Shelley Kramer | Public Relations & Social Marketing Insight | Scoop.it

Price Waterhouse Coopers (PWC) asked some 150 CEOs about the trends they expected to be prevalent in the coming years as part of their 17th Annual CEO survey and found most bets were on technology. Some 86% of CEOs cited tech advances as the dominant global trend. But marketers beware! When it came to how well prepared their organizations are to capitalize on these transformative trends, only 36% of the CEOs surveyed considered that their corporate marketing capabilities were up to speed and ready to embrace change.


According to the report, more than half of the CEOs responding were planning to change their customer growth and retention strategies to address the situation. The next few years are likely to see a new kind of interaction with customers as organizations acknowledge how technological advances are changing their relationships with consumers.


The emphasis will no longer be on the single transaction—instead, the focus is shifting to a more sustainable “always on” relationship with customers. It’s what we’ve been preaching for longer than I can remember and it’s nice to see, even in a small study, that this mindset is catching on....

Jeff Domansky's insight:

Shelley Kramer says the implications are clear for marketing departments. Prove your value  to your CEO or risk big changes.

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B2B Lead Generation on Twitter | Social Media Today

B2B Lead Generation on Twitter | Social Media Today | Public Relations & Social Marketing Insight | Scoop.it

A recent study shows Twitter outperforms LinkedIn and Facebook 9 to 1 for lead generation. For B2B marketers, that's a big deal. Here's a quick guide on getting the most out of your Twitter for lead gen campaign.

Jeff Domansky's insight:

Twitter can do leads. Here's how.

wanderingsalsero's curator insight, May 17, 2013 10:28 PM

Is this true?

 

I wonder how it could be used for a dance studio?

Jeff Domansky's comment, May 18, 2013 3:27 PM
I think you could use it to complement other marketing. As a sole lead generator, not local enough I don't believe.
Chris Agro's curator insight, May 21, 2013 10:08 AM

Very interesting - Twitter out performs Linkedin for lead generation? Worth looking into! #agrotising

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Where Marketing Metrics Go Wrong | Marketo

Where Marketing Metrics Go Wrong | Marketo | Public Relations & Social Marketing Insight | Scoop.it
Here are some top analytics to avoid when measuring marketing ROI and proving revenue.

I recently wrote about how to build a data-driven marketing team. But what metrics should that team track? There are literally hundreds if not thousands of possible marketing management metrics to choose from, and almost all of them measure something of some kind of value. The problem is that most of them relate very little to the revenue and profitability metrics that concern the CEO, CFO and the board....

Here are the top categories of metrics to avoid....
Jeff Domansky's insight:

Jon Miller shares valuable tips on what metrics NOT to measure.

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Skip the Social Media Fast Track – It’s Bad for Business | Social Media Today

Skip the Social Media Fast Track – It’s Bad for Business | Social Media Today | Public Relations & Social Marketing Insight | Scoop.it
Is your company offering customers a fast track through social media? Can customers who complain via Twitter or other online channels get better, faster service than those who wait in the phone queue?

 

Stop it.

 

Shouldn’t you treat all your customers the same way?

 

Listening to Social Feedback
Business in general does a terrible job of listening to social feedback. According to Satmatrix, 55% of companies ignore customers who provide feedback via social media. In fact, that’s why I challenge companies to take the “Twitter Test” to see how they are performing in this area.

 

Some companies get it and are working hard to integrate social channels into their support systems. Suzanne Kapner wrote in a recent Wall Street Journal article about Citibank’s efforts to improve response to customer issues raised through social media....

 

[Here's a thoughtful reflection on customer service and social media. ~ Jeff]

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