how to demonstrate roi from digital marketing programs

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SOURCE OF INSIGHT

Tim O’ConnellRetail Properties of America, Inc.

AVP, Director of Digital Marketing & [email protected] | T 630.634.4294 | @RPAI_REIT

Tim O’Connell is the Assistant Vice President, Director of Digital Marketing & Communications for RPAI where he is responsible for the Company’s marketing, advertising, public relations and market research initiatives. He played an integral role in the Company’s re-branding initiatives as part of the company’s IPO in 2012.

He leads RPAI’s charitable giving including a partnership with The Wellness House, employee engagement and overall marketing initiatives. He works collaboratively with the executive management team to develop and implement key messages supporting all investor information and presentations to the board of directors, shareholders, investors and rating agencies. Tim is an active member with International Council of Shopping Centers (ICSC) and was the recipient of the ICSC 2011 US Silver MAXI Award for an inter-disciplinary campaign and the ICSC 2012 US Silver MAXI Award for New Media Excellence within Emerging Technology.

In 2011, Tim was also honored with the ICSC John T. Riordan Professional Education Scholarship Award. He received his B.B.A. in Marketing from Benedictine University in Lisle, Illinois, where he is an active alumni member for the College of Business.

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THE DIGITAL CLIMATE

Challenges Facing Marketers Today– Too much content to monitor– Limited staff = lack of time to track and report– Difficult to stay engaged with digital audience– Inability to quantify data and demonstrate a return

on investment

Objectives for Today– Clarify and align objectives/tactics– Prioritize meaningful metrics– Explore tools and practices to simplify measurement

Understanding the existing outlook to pinpoint future objectives

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RETURN ON INVESTMENT (“ROI”)The basic formula to quantify success

ROI =(Benefit or Gain – Cost of Investment) x 100

Cost of Investment

ROI can only be calculated after the investment has yielded a return and it cannot be estimated before you have completed your program

Values used in the ROI equation are non-variable

All resources utilized in a campaign have a value

The Basic Rules of ROI

300% =($2,000 – $500) x 100

$500

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STRATEGIC PLANNING PROCESSLaying the foundation to deliver measurable results

1. Gather Business Goals

2. Define Mission/Purpose

3. Develop Program Goals

4. Select KPIs

5. Tactics

6. Metrics

Who?

Why?

What?

How?

Source: Content Marketing Institute

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1. GATHER BUSINESS GOALSWhat aspect of the business does your program support?

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2. DEFINE MISSION / PURPOSE

Create a digital mission statement that captures the vision of your business and addresses the goals of your program

Laying the foundation for your program’s goals

Example: Develop a group of advocates who in turn help strengthen, promote and maintain the mission and position of the brand.

2. DEFINE MISSION / PURPOSE (Cont.)

Utilize digital media to engage with shoppers by sharing information about our retailers, promoting special events and creating stronger consumer outreach and feedback opportunities to drive traffic to our centers

RPAI’s Social Mission

Through the use of digital media, we will continue to build our brand by putting a face and personality to RPAI, thus keeping us…

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3. DEVELOP PROGRAM GOALS

Business Objectives

Program Mission / Purpose

Goal A

Depth goal Depth Goal

Goal B

Depth Goal Depth Goal

Goal C

Depth Goal Depth Goal

What you look to accomplish

To adequately measure ROI, all of the time associated with program development must be recorded

If your output doesn’t align with a program goal, it should not be included within your strategy

Strategic Planning: Cost-Benefit Analysis (Pre & Post)

– Labor– Tools & Software– Conversion– Advocacy / Satisfaction

Sample chart was curated from Angie Schottmuller, Marketing Optimization Advisor

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4. DEFINE YOUR KEY PERFORMANCE INDICATORS

Objective KPI Measurement

Awareness % share of voice for online mentions

Consideration # of total “social” interactions

Leads / Sales # of conversations driven from social media

Retention # of repeat visitors

Advocacy # of total positive mentions, reviews or shares

Innovation $ saved or generated as a result of social feedback

Market Research # of social support inquires resolved

Customer Service # of social support inquiries resolved

Social PR# of negative brand mentions solved(Bonus: # converted to positive mentions)

HR Recruiting # of candidates driven from social media

Measuring the success of your campaign

Note: KPI’s are examples. Metrics should be indicative of the progress for your organizational goals.

Sample KPI’s were curated from Angie Schottmuller, Marketing Optimization Advisor

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5. SOCIAL MEDIA TACTICSValue-basis for comparing tactics

CONSUMERDRIVEN CREATIVE

Develop consumer driven creative that

generates both short term and long term

revenue from multiple sources

USER ENGAGEMENT

Drive user engagement and promote content

contributions

Listen Interact React Share

OFFLINEEVENTS

Offline events are excellent ways to capture additional content to submit

through your digital market channels

EDITORIAL CALENDAR

Seasonal cues will drive users to the web.

Develop a strategic calendar that supports seasonal cues, national

and local events

REPURPOSE CONTENT

Bring new life to your content by repurposing your work internally and

externally

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5. SOCIAL MEDIA TACTICS (Cont.)

The 70+20+10 principle and the importance of experimenting

70%

20%

10%

Tried & TrueTouch Points

Emerging Trends & Technology

Experimental

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6. ANALYZING AVAILABLE METRICSHow can you measure the success of your campaign

Awareness ROI Calculator (multiply figures less cost)

Market size 1,500,000

Awareness change 3.00%

Purchase intent 10.00%

Sales conversion 75.00%

Unit profits $75

Awareness value $253,125

Cost of awareness work ($15,000)

Awareness value less costs $238,125

ROI =(Benefit or Gain – Cost of Investment) x 100

Cost of Investment

Jan. Feb. Mar. Apr. May June0

20

40

60

80

100

120

140

160

180

Twitter

Facebook

Instagram

YouTube

LinkedIn

Social Media Correlations

ROI EXERCISES & BEST PRACTICES

Prepare your team members and provide them with the tools they need to maximize opportunities

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CUSTOMER PERSONASDefining your primary customers


IDENTIFYPersonas;

define concerns, drivers, roles,

etc.

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QUESTIONSWhat do your

personas ask at each stage of the buying process?

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ANSWERSAnswer the

question your personas ask.

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MAPMap content available to answer the

questions asked.

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IDENTIFYHoles

Where are you missing content?

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SCHEDULEWho is writing

the content and when is it

published?

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CREATEContent to fill in

the holes.

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CUSTOMER PERSONAS (Cont.)

Defining your primary customers


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CONVERSATION KITCreating content for team members who represent your brand

Interview Guide•Develop a sample guide for your team to discuss opportunities with your tenants, customers, etc.

Flow Chart•Create a flow chart that plots your customers position relative to its peer universe for a few key indicators

Track Your Results•Remember to always track your results

•Every piece of data will support the benefits of your program

Summary Sheet•Build a summary sheet for your executive team and share the outcome of your program

Question: Does your content truly help front-line executives sell your brand?

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CONVERSATION KIT (Cont.)

Package your research results and success stories into white papers, videos, blogs, social content, print collateral, etc.

Creating content for team members representing your brand

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GENERATE ROI FROM CONFERENCES

Expose your social media channels to the world

Go behind the scenes

Piggyback on the conference’s social media frenzy

Showcase your blogging skills

Visually summarize presentations

Create a webinar interview series

Let your followers experience the conference (e.g., Periscope)

Capitalize on content marketing opportunities

CONTENT MARKETING AUTOMATION

Easily track, schedule and curate to generate ROI

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HOOTSUITE

Customizable interface Allows teams to collaborate Assign and manage tasks

Social media management, simplified

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HOOTSUITE

Schedule updates Monitor mentions Track results

Social media management, simplified

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ENGAGE SCIENCES

Schedule and post content to multiple social profiles

Utilize unit tags to boost engagement

Social campaigns for an array of digital channels

Harness data that can be leveraged for targeting and segmentation

Acquire, engage and inspire your followers

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ENGAGE SCIENCES

Build social profiles on your followers by connecting and engaging them with the content they are seeking

Establish brand advocates that share your content with their network

Keep your finger on the pulse of your digital audience

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ENGAGE SCIENCESHighlight brand advocates and showcase rich content

KEY TAKEAWAYS

There has never been a better time for marketers. We now have greater access, tools and ways to reach our audiences than ever before.

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HOW TO GENERATE A SUCCESSFUL ROI

1. Take Risks & Go Against the Grain Push the envelope and drive compelling stories Develop prevailing themes within your advertising that

force action• Just Do It – Nike• Think Different – Apple

Our stories become richer when we step outside of the box

Unique and consistent messaging will drive your brand

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2. Be Authentic We are exposed to so much content every day Be honest and feed the expectations of your audience

• Builds loyalty among your customers

Stay true to your mission and vision and you will always generate followers


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3. Audience Doesn’t matter what is behind the link if there is no

one there to click on it Give them a piece of content worth sharing Doesn’t matter if it’s a 6 second vine, a 3 minute

YouTube video or entire Netflix TV series…As long as the content is good, you will have an audience
