the art of the marketing scorecard webcast by beckon

Jennifer Zeszut CEO and CMO Beckon jennifer@beckon.com @jenniferland

@jenniferland @BeckonInc #marketing #scorecards

Finance Baby Marketing Baby

MARKETING DATA IS MESSY DATA

Meet Beckon.

MARKETING SPEND,

ACTIVITY, ROI

BRAND OUTCOMES

BUSINESS OUTCOMES

Meet Beckon.

MARKETING SPEND,

ACTIVITY, ROI

BRAND OUTCOMES

BUSINESS OUTCOMES

•  AUTOMATED DATA INGESTION AND TRANSFORMATION (ETL) •  NORMALIZED KPI AND METRIC DEFINITIONS •  CONSISTENT TAXONOMY AND TAGGING STRUCTURE

UNITED MARKETING PERFORMANCE DATA HUB

Meet Beckon.

MARKETING SPEND,

ACTIVITY, ROI

BRAND OUTCOMES

BUSINESS OUTCOMES

Meet Beckon.

MARKETING SPEND,

ACTIVITY, ROI

BRAND OUTCOMES

BUSINESS OUTCOMES

OTHER DASHBOARDS, MIX MODELS,

ANALYSIS TOOLS, DATA WAREHOUSES

Democratize the data

Continuously updated marketing dashboards

Continuously updated marketing

scorecards

DO YOU

KNOW WHAT’S

WORKING?

DO YOU

KNOW WHAT’S

WORKING?

Helping brands understand and beautifully communicate the business impact of everything that marketing does

Partner to savvy CMOs everywhere

In this session… •  Scorecards defined • History • Benefits •  Scorecard design frameworks •  Pro tips • Build your own…

Resources for you…

1. A copy of this presentation

BECKON SCORECARD BUILDERO

DEFINITIONS:Objective: Key marketing or business objective to be monitored or evaluated. Can be organized into a linear process (e.g., Buyers Journey) or a theme (e.g., Annual Marketing Goals or Campaign Performance).

Tip: State key marketing or business objectives in the form of a question.

Key Performance Indicator (KPI): The one metric that best describes the performance of the objective in question.

Metrics: The set of performance measures by which an objective is evaluated.

Types include:

• Top-level Metrics: Return on marketing objectives (ROMO) and return on marketing investment (marketing ROI)

• Volume Metrics: Impression and engagement volume, total sales and other outcomes.

• Effectiveness Metrics: Awareness, engagement, engagement rate, outcome, and conversion rate.

• Efficiency Metrics: Cost per impression, cost per engagement and cost per outcome.

Beckon Proprietary and Confidential. Contact sales@beckon.com for more information.

2. Build-Your-Own Performance Scorecard Worksheet

3. A Sample Marketing Performance Scorecard

BECKON MARKETING DATA FRAMEWORKOB

ONLINE OFFLINE

MARKETING ACTIVITIES OUTCOMES

BRAND BUSINESS

BUSINESS MARKETING CAMPAIGN CHANNEL BUYER’S JOURNEY

STRATEGIC METRICS(all-channel,

CMO level)

TOP-DOWN ANALYTICSStart with a goal,

then find the data.

• Scorecards

• Dashboards

BOTTOM-UP ANALYTICS

Start with data,then find the insights.

• Ad-hoc analysis

• Auto correlation

• Variances

VOLUME (COUNTS) EFFECTIVENESS (RATIOS) EFFICIENCY ($)

AGGREGATED METRICS(multi-channel,manager level)

ACTIVITY METRICS(single-channel,tactician level)

• Total new customers• Total sales• NPS• Net sentiment

• Engagement/Impressions ratio• Paid/Earned ratio• Aided awareness• Share of voice

• ROMI• ROMO• Cost per new customer• Cost per point of awareness

• Impressions by campaign• Engagement by channel• Sales by region• GRPs by DMA

• E/I ratio by campaign• P/E ratio by channel• Engagement rate by agency• Likes per post by channel

• Cost per impression by campaign• Cost per engagement by channel• ROMI per business unit• Sales per square foot by region

• Visits• Clicks• Likes• Sends

• Click-through rate• Conversion rate• Open rate• Cart abandonment rate

• Cost per click• Cost per thousand• Cost per point• Cost per attendee

MARKETING

• Funnel• P/O/E• Channel• Campaign

BUSINESS

• Product• Industry• Region• Competition

ORGANIZATIONAL

• Business unit• Department• Owner• Agency

CUSTOMER

• Segmentation• Type (new, old)• Demographics

EXECUTION

• Placement• Creative• Offer• Test/Control

Display

Mobile

SEOSEM

Video TV

Direct

Sponsors

Retail

Call C

Compet

4. The Marketing KPI Framework

5. Marketing Scorecard Best Practices Whitepaper

Scorecard roots run deep…

1960s: The Balanced Scorecard

1980-1990s: Six Sigma

What is a marketing scorecard?

An information-dense way of reporting metrics

A nice visualization of data

Don’t let the pretty pictures fool you

A marketing scorecard

A marketing scorecard 1.  A data-driven marketing

performance measurement system that aligns marketing activities to business strategy and allows teams to monitor and improve their marketing over time.

A marketing scorecard 1.  A data-driven marketing

performance measurement system that aligns marketing activities to business strategy and allows teams to monitor and improve their marketing over time.

2.  A powerful storytelling vehicle for marketing’s success

Is a scorecard the same as a dashboard?

DASHBOARDS • Events and trends as they happen

SCORECARDS • Progress towards objectives

Is a scorecard the same as a dashboard?

DASHBOARDS • Events and trends as they happen

SCORECARDS • Progress towards objectives

• What’s happening

• How well you're doing

The hallmarks of a good marketing scorecard • Binds tactical metrics to a strategic framework. •  Reports performance against pre-specified criteria. •  Provides context to the data. • Are continuously updated. •  Lets you drill down into the detail.

1. Bind tactical metrics to a strategic framework.

down-loads

friends

clicks

re-tweets

fans visits

SQLs Impre-ssions

down-loads

friends

clicks

re-tweets

fans visits

SQLs Impre-ssions

INCREASE AWARENESS

friends

clicks

re-tweets

fans visits

SQLs Impre-ssions

INCREASE AWARENESS

DRIVE SALES

2. Report performance against pre-specified criteria.

THE MARKETING PERFORMANCE CURSE:

SELECTING PERFORMANCE KPIS AFTER THE MARKETING EFFORT

THE MARKETING PERFORMANCE CURSE:

SELECTING PERFORMANCE KPIS AFTER THE MARKETING EFFORT

Everyone should should know, upfront, the criteria by which they will be judged.

ü  Consistent campaign scorecard

ü  Consistent brand/product scorecard

ü  Consistent market/country scorecard

3. Provide context to the data.

10,000 followers!

SO WHAT? Is that good or bad?

55 @jenniferland @BeckonInc #marketing #scorecards

Current period performance versus previous period performance

PLANNED VERSUS ACTUAL

INTERNAL BENCHMARKING

Performance versus a comparable effort with similar scope and objectives

How are we tracking to where we planned to be?

EXTERNAL BENCHMARKING Performance versus industry averages or norms

Performance versus the same period last year HISTORICAL TREND (YOY)

56 @jenniferland @BeckonInc #marketing #scorecards

4. Is continuously updated.

Process or

Automation

5. Lets you drill down into the detail.

The elements of a scorecard

Objectives: A key marketing or business goal that you want to monitor and evaluate Remember to make them SMART: Specific Measureable Attainable Realistic Timely

KPIs: key measurements that best answer the questions you must ask in order to drive your objectives. KPIs are often derived—they are aggregate counts or ratios of two or more underlying metrics.

Metrics: the set of performance measures by which you’ll monitor and evaluate how well you’re meeting your objectives. Proper Scope: Activity, Aggregated, Strategic Proper Type: Volume, Effectiveness, Efficiency Do I have the data? •  Yes – ensure it has the proper Reporting Categorization •  No – how can I collect it?

What KPIs and metrics matter?

What’s the right scorecard for you?

BECKON SCORECARD BUILDER

DEFINITIONS:

Objective: Key marketing

or business objective to be

monitored or evaluated. Can

be organized into a linear

process (e.g., Buyers Journey)

or a theme (e.g., Annual

Marketing Goals or Campaign

Performance).

Tip: State key marketing or

business objectives in the form

of a question.

Key Performance Indicator

(KPI): The one metric that best

describes the performance of

the objective in question.

Metrics: The set of performance

measures by which an objective

is evaluated.

Types include:

• Top-level Metrics: Return on

marketing objectives (ROMO)

and return on marketing

investment (marketing ROI)

• Volume Metrics: Impression

and engagement volume,

total sales and other

outcomes.

• Effectiveness Metrics:

Awareness, engagement,

engagement rate, outcome,

and conversion rate.

• Efficiency Metrics: Cost

per impression, cost per

engagement and cost per

outcome.

Options for structuring your omnichannel marketing scorecard • By the buyer’s journey • By business objective • By key campaigns • By marketing objective • By marketing channel • All of the above

By marketing channel

By buyer’s journey

Pro tip: Build one master scorecard and toggle scopes

By business objective

By marketing objective

By key campaigns

Where to start: deep or wide? B

KPI KPI KPI KPI KPI KPI KPI …

Where to start: deep or wide? U

Focused and deep U

Wide but shallow U

Do both if you can U

4 key takeaways

4 key takeaways • A marketing scorecard is not a pretty picture; it is a data-

driven performance measurement system that enables team alignment and performance optimization.

• Consider structuring yours around a buyer’s journey framework or other integrated set of objectives. (Avoid a channel-specific scorecard.)

• Make sure you have a plan for continuously updated data (by way of either automation or processes).

• Be prepared for your scorecard to travel far and wide. Put your best foot forward.

If you do this right…

1. A copy of this presentation

BECKON SCORECARD BUILDERO

DEFINITIONS:Objective: Key marketing or business objective to be monitored or evaluated. Can be organized into a linear process (e.g., Buyers Journey) or a theme (e.g., Annual Marketing Goals or Campaign Performance).

Tip: State key marketing or business objectives in the form of a question.

Key Performance Indicator (KPI): The one metric that best describes the performance of the objective in question.

Metrics: The set of performance measures by which an objective is evaluated.

Types include:

• Top-level Metrics: Return on marketing objectives (ROMO) and return on marketing investment (marketing ROI)

• Volume Metrics: Impression and engagement volume, total sales and other outcomes.

• Effectiveness Metrics: Awareness, engagement, engagement rate, outcome, and conversion rate.

• Efficiency Metrics: Cost per impression, cost per engagement and cost per outcome.

2. Build-Your-Own Performance Scorecard Worksheet

3. A Sample Marketing Performance Scorecard

BECKON MARKETING DATA FRAMEWORKOB

ONLINE OFFLINE

MARKETING ACTIVITIES OUTCOMES

BRAND BUSINESS

BUSINESS MARKETING CAMPAIGN CHANNEL BUYER’S JOURNEY

STRATEGIC METRICS(all-channel,

CMO level)

TOP-DOWN ANALYTICSStart with a goal,

then find the data.

• Scorecards

• Dashboards

BOTTOM-UP ANALYTICS

Start with data,then find the insights.

• Ad-hoc analysis

• Auto correlation

• Variances

VOLUME (COUNTS) EFFECTIVENESS (RATIOS) EFFICIENCY ($)

AGGREGATED METRICS(multi-channel,manager level)

ACTIVITY METRICS(single-channel,tactician level)

• Total new customers• Total sales• NPS• Net sentiment

• Engagement/Impressions ratio• Paid/Earned ratio• Aided awareness• Share of voice

• ROMI• ROMO• Cost per new customer• Cost per point of awareness

• Impressions by campaign• Engagement by channel• Sales by region• GRPs by DMA

• E/I ratio by campaign• P/E ratio by channel• Engagement rate by agency• Likes per post by channel

• Cost per impression by campaign• Cost per engagement by channel• ROMI per business unit• Sales per square foot by region

• Visits• Clicks• Likes• Sends

• Click-through rate• Conversion rate• Open rate• Cart abandonment rate

• Cost per click• Cost per thousand• Cost per point• Cost per attendee

MARKETING

• Funnel• P/O/E• Channel• Campaign

BUSINESS

• Product• Industry• Region• Competition

ORGANIZATIONAL

• Business unit• Department• Owner• Agency

CUSTOMER

• Segmentation• Type (new, old)• Demographics

EXECUTION

• Placement• Creative• Offer• Test/Control

Display

Mobile

SEOSEM

Video TV

Direct

the art of the marketing scorecard webcast by beckon

marketing data

updated marketing scorecards

messy data

updated marketing dashboards

state key marketing

marketing objectives

annual marketing goals

data warehouses

Marketing

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