Data-Driven Marketing: The 15 Metrics Everyone in Marketing Should Know / Edition 1
  • Data-Driven Marketing: The 15 Metrics Everyone in Marketing Should Know / Edition 1
  • Data-Driven Marketing: The 15 Metrics Everyone in Marketing Should Know / Edition 1

Data-Driven Marketing: The 15 Metrics Everyone in Marketing Should Know / Edition 1

by Mark Jeffery
     
 

We live in budget-cutting times, and marketing budgets are among the first to get cut. Why? When non-marketing executives take a hard look at the numbers, they often can't see a tangible link between marketing and overall revenue. So if you're a marketer today, you're probably facing the need to do more with less, justify all investments, show results, and still

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Overview

We live in budget-cutting times, and marketing budgets are among the first to get cut. Why? When non-marketing executives take a hard look at the numbers, they often can't see a tangible link between marketing and overall revenue. So if you're a marketer today, you're probably facing the need to do more with less, justify all investments, show results, and still beat the competition. The secret to this balancing act is having—and correctly using—the numbers.

Data-Driven Marketing uses simple, non-technical language to help you to master the latest analytical techniques while maximizing your Return on Marketing Investment (ROMI). You'll take your marketing performance to the next level as you discover:

  • Why more than 80 percent of companies don't make data-driven marketing decisions (and suffer for it)
  • The 15 key metrics every marketer should know
  • The five obstacles to data-driven marketing and how to overcome them
  • In-depth examples of how to apply data-driven principles in small and large organizations
  • How to use the 15 metrics to improve the performance of your campaigns by a factor of five or more
  • New research insights from the Kellogg School of Management, America's leading marketing business school, surveying 252 Fortune 1000 firms, encompassing $53 billion of annual marketing spending
  • Free downloadable ROMI templates for all examples given in the book

Every marketing department is under pressure to deliver, but some will thrive and some won't. Data-Driven Marketing provides top-to-bottom coverage of what works, what doesn't, and what makes the difference in this important but misunderstood area. Pick up this essential guide today and you'll not only come out on top, but know (and measure) the reason why.

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Product Details

ISBN-13:
9780470504543
Publisher:
Wiley
Publication date:
02/08/2010
Pages:
298
Sales rank:
251,769
Product dimensions:
6.10(w) x 9.00(h) x 1.20(d)

Table of Contents

DOWNLOADABLE ROMI RESOURCES XIII

ACKNOWLEDGMENTS XVII

INTRODUCTION XIX

PART I Essentials 1

CHAPTER 1 The Marketing Divide: Why 80 Percent of CompaniesDon't Make Data-Driven Marketing Decisions—And Those Who DoAre the Leaders 3

The 15 Essential Marketing Metrics 7

Case Examples 9

Marketing Budgets: Key Differences between the Leaders and theLaggards 17

Using Marketing Metrics to Weather Difficult Economic Times20

The First Step: Defining the Data-Driven Marketing Strategy22

Chapter Insights 25

Case Examples: Best Buy, Porsche Turbo Cabriolet Launch, DuPontTyvek NASCAR

CHAPTER 2 Where Do You Start? Overcoming the Five Obstaclesto Data-Driven Marketing 26

Overcome Obstacle 1: Getting Started—Focus on Collectingthe Right Data and Create Momentum by Scoring an Easy Win 28

Overcome Obstacle 2: Causality—Conduct Small Experiments33

Overcome Obstacle 3: Lack of Data—Strategies for ObtainingCustomer Data 35

Overcome Obstacle 4: Resources and Tools—Build theInfrastructure for Data-Driven Marketing 39

Overcome Obstacle 5: People and Change—Create aData-Driven Marketing Culture 44

A Road Map for Implementing Data-Driven Marketing 49

Chapter Insights 51

Case Examples: Royal Bank of Canada, Walgreens, ContinentalAirlines, Harrah’s Entertainment

CHAPTER 3 The 10 Classical Marketing Metrics 52

Linking Marketing Activities to Metrics 53

A Balanced Scorecard for Marketing 62

Facing the B2B Measurement Challenge 67

Chapter Insights 71

Case Examples: MasterCard FIFA Sponsorship, Microsoft OEMComarketing

PART II 15 METRICS TO RADICALLY IMPROVE MARKETING PERFORMANCE73

CHAPTER 4 The Five Essential Nonfinancial Metrics:#1—Brand Awareness, #2—Test-Drive, #3—Churn,#4—Customer Satisfaction (CSAT), and #5—Take Rate75

Shaping Perception: Metric #1—Brand Awareness 75

Comparative Marketing: Metric #2—Test-Drive 87

Loyalty Marketing: Metric #3—Churn 91

Customer Satisfaction: Metric #4—CSAT 96

Campaign Effectiveness: Metric #5—Take Rate 99

Chapter Insights 103

Case Examples: Philips Consumer Lifestyles, Navistar America'sGreenest School, Porsche First Mile, Intel, Ray-Ban, Lexus, DentalCare Partners, DSW Shoe Warehouse Downloadable Excel Templates:Churn, Take Rate

CHAPTER 5 Show Me the ROI! The Four Essential FinancialMetrics: #6—Profit, #7—Net Present Value (NPV),#8—Internal Rate of Return (IRR), and #9—Payback104

Metric #6: Profit 105

Finance for Marketing Managers: Metrics #7—NPV,#8—IRR, and #9—Payback Defined 106

Return on Marketing Investment (ROMI) Framework for ManagementDecisions 115

ROMI for Sports Sponsorship 119

ROMI for a New Product Launch 122

Stress-Test the Numbers: Sensitivity Analysis 129

Chapter Insights 133

Case Examples: Sports Sponsorship and Web New Product LaunchROMI (Disguised) Downloadable Excel Templates: NPV, IRR, Payback,Campaign ROI, Sports Sponsorship ROI, New Product Launch ROI, TableFunction Sensitivity Analysis, Monte Carlo Analysis

CHAPTER 6 All Customers Are Not Equal: Metric#10—Customer Lifetime Value (CLTV) 134

Metric #10—Customer Value Defined 135

The New Marketing Strategy: Value-Based Marketing 138

Balancing Short- and Long-Term Customer Profitability 146

Customer Life Cycle Management 151

Chapter Insights 154

Case Examples: Sainsbury’s, 3M, Continental Airlines,Royal Bank of Canada, Carnival Cruise Lines

Downloadable Excel Template: Customer Lifetime Value

CHAPTER 7 From Clicks to Value with Internet MarketingMetrics: #11—Cost per Click (CPC), #12—TransactionConversion Rate (TCR), #13—Return on Ad Dollars Spent (ROA),#14—Bounce Rate, and #15—Word of Mouth (WOM)156

CPC versus CPM: Optimizing Metric #11—CPC Is the GoogleInnovation 157

Optimizing Sponsored Search: Metrics #12—TCR and#13—ROA 159

How Good Is Your Web Site? Metric #14—Bounce Rate 168

Changing the Internet Search Marketing Game with AttributionModeling 172

Beyond SEM: Internet Display Advertising Impact 176

Hypertargeting Display Advertising in Social Media 178

Metric #15—Word of Mouth (WOM) Social Media MarketingEngagement 181

Chapter Insights 186

Case Examples: Google, Air France, Opinmind, Meteor Solutions,Palm Centro, Capcom Resident Evil 5 Downloadable Excel Templates:Search Engine Marketing Metrics (CPC, CTR, TCR, Take Rate, ROA),Air France Click Data, Google ROA Impact, Bounce Rate, Word ofMouth (WOM)

PART III THE NEXT LEVEL 187

CHAPTER 8 Agile Marketing: Using Near-Time Data to ImprovePerformance by a Factor of Five or More 189

If You Are Going to Fail, Fail Fast 190

Design for Measurement 196

Chapter Insights 200

Case Examples: Microsoft Security Guidance, DuPont PerformanceAlliance

CHAPTER 9 Wow, That Product Is Exactly What I Need! The ThreeEssential Approaches to Analytic Marketing 201

The First Essential Approach to Analytic Marketing: PropensityModeling 202

The Second Essential Approach to Analytic Marketing: MarketBasket Analysis 206

The Third Essential Approach to Analytic Marketing: DecisionTrees 207

Timing Is Everything: Event-Driven Marketing Case Examples214

The Business Case for Analytic Marketing 218

Chapter Insights 220

Case Examples: Meredith, EarthLink, DIRECTV, National AustraliaBank, Ping Golf Downloadable Excel Template: Analytic Marketing ROIDownloadable SAS File: EarthLink Retention Marketing

CHAPTER 10 What's It Going to Take? Infrastructure forData-Driven Marketing 222

Which Data Do You Really Need? 223

Do You Need to Build a Ranch House or Empire State BuildingInfrastructure? 225

Requirement Complexity 229

Should You Forklift or Rearchitect Data in the Enterprise DataWarehouse? 233

What We Know Can and Will Go Wrong (If You Don’t WatchOut!) 234

Harrah's Entertainment: Creating the Data-Driven MarketingInfrastructure Portfolio 237

Chapter Insights 246

Case Example: Harrah’s Entertainment

CHAPTER 11 Marketing Budgets, Technology, and Core Processes:Key Differences between the Leaders and the Laggards 247

Marketing Campaign Management: The State of the Industry 249

Research: Marketing Processes, Technology, and the Link to FirmPerformance 252

B2B versus B2C Investment Portfolio Mixes: Leaders versusLaggards 256

Overcoming the Four Barriers to Professionalizing MarketingProcesses 260

Upgrading Marketing Campaign Management Processes: AThree-Phased Approach 262

Lessons Learned from the Research: Complexity RequiresGovernance 266

The Creative X-Factor 268

Tying It All Together 271

Chapter Insights 272

Case Examples: Blendtec Viral Marketing, Nissan Qashqai NewProduct Launch

APPENDIX FOR INSTRUCTORS How to Use This Book to TeachData-Driven Marketing 275

NOTES 279

INDEX 285

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