Digital Key Performance Indicators: Signs of What Exactly?
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Understanding the importance of Key Performance Indicators and why your digital strategy needs it.How to develop the right KPIs and identify the right metrics for your online campaigns
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Digital Key Performance Indicators: Signs of What Exactly?
- 1. KPIs – An Indicator of What Exactly?
- 2. KPIs are a means to an end, the end being ability to ‘optimise’ digital marketing campaigns, channels and investment. 2
- 3. KPIs must • Be aligned to strategy • Have ownership …..to support Business Goals 3
- 4. KPIs must be …..to drive Implementation
- 5. Identify the right the Indicators What do we want? GOALS How can we get it? STRATEGY What do we see when we do a good job? How can we measure this? KPIs METRICS ALIGNED TO STRATEGY 5
- 6. “One of the strengths for Digital is its ability to help find the right needle in a digital haystack of data.”
- 7. The raison d’etre for KPIs are monetisation, optimisation and prioritisation By digital touch point By campaign Of marketing investment 7
- 8. Use Touch- points that work for you • Product Demos • Technical Expertise • Social Media Data • Search • Web Analytics • Display Advertising • Behavioural Targeting • Rich Media 8
- 9. Monetise, Optimise & Prioritise for better ROI Source: Reporting and analytics tools and capabilities, (Davenport and Harris, 2007) 9
- 10. Challenge: Use information from online behaviour to make better decisions about on-ground inventory allocation Source: Google Analytics Cases
- 11. Nissan: Online Indicators, Offline Purchase CONVERSION ENGAGEMENT AWARENESS • Online Banner Click Thru rate • Build and price tool • Views per model • Test-drive request form • Brochure downloads • Product page: time spent 11
- 12. Nissan : Online Indicators, Offline Purchase GOALS • Leverage product pages, online promotional materials, and data collection to understand user preferences(model, colour & accessories). • Make informed decisions about serving demand in local markets APPROACH RESULTS • Focussed on metrics that drive conversion KPI • And added tags that track user preferences • Global dashboard with timely analysis of product popularity globally and by market • Predictive analytics used to model user’s path to conversion. • At-a-glance reporting for quicker, more accurate decisions • Implemented custom reporting to facilitate knowledge sharing • Validated supply & inventory decisions measurable effect on sales 12
- 13. Choose Metrics that work What do we want? GOALS How can we get it? STRATEGY What do we see when we do a good job? How can we measure this? KPIs METRICS ACTIONABLE VITAL SIGNS 13
- 14. Focus on Metrics that matter Numbers that look good on paper, but don’t really impact the KPI. – Vanity Metrics Stats that tie to business goals & specific tasks you can improve. – Actionable Metrics • Facebook Fans & Twitter Followers • Engagement Rate on post ( Comments, Shares & Re-tweets) • Traffic to the website • Banner Impressions • Bounce rate on website pages • Click thru rate on Banners 14
- 15. Use Dashboards to navigate the data 15
- 16. “You can’t manage what you don’t measure”
- 17. Different Metrics for Different KPI Retention Conversion • 1-2-1 communications • Active user registration • Search activity • Site visits • Behavioural targeting • Download app/service Engagement Awareness • Personalisation • Viewing a video • Community involvement • Buy a device • Depth of exploration • Product engagement • Repeat traffic • Site search • Social media shares 17
- 18. Challenge: Optimizing direct promotions to maximize Purchase
- 19. X-Box: e-DM Promotion Goal: Identify crucial moments in the path to conversion & increase franchise game downloads. Insight: Users who play the demo games are more likely to download the games. KPI: Franchise Game downloads Metrics: % Played demo,% Open eDM. Approach: Open rate can be increased by sending demo offers to recipients who have not played the games. eDMs can be used to sustain engagement and reduce drop-offs. 19
- 20. Tags are the foundation for metrics Tagging (pages, assets, ads, etc) allows • Tracking of consumer behaviour with respect to owned, bought and earned media; • Measurement of marketing efficiency; and critically • Optimization of digital marketing (spend/activity) 20
- 21. Tagging Website Assets Page-level tagging automated through CMS • All sites/pages created through the CMS system should automatically receive page-level tagging across all platforms (e.g. .com, .mobi, GOSP, etc.) • Asset-level tagging is required for campaign activities on local sites to track user interaction (e.g. clicks) with those assets (e.g. links, banners, touts, Flash content, etc.) Asset-level tagging for campaign activities, through agencies managing content Without page-level tagging, asset level tagging is not recognised in reporting 21
- 22. Challenge: Compare performance within each category in isolation, as well as understand site visitor behaviour & entire PUMA experience Source: Google Analytics Cases
- 23. Puma : Comparative Website Experience GOALS APPROACH • Understand how to leverage the website as branding tool & ecommerce gateway. • Use segmentation and compare market-wise site experience and user behavior. • Enrich the entire website experience to drive conversions • Measure on-page effectiveness for design & site elements. • Increase online orders and improve conversion rates • Test multiple website headers, interface options and content variations. 23 RESULTS • Order rate increased 7.1% by optimizing website header. • Visitors spent twice as long on the site interacting with PUMA brand content • Key growth regions saw nearly 50% increase in engagement & visits
- 25. Measuring effectiveness : 5-Step process Starts with brief to agency Determine end action items to be measured Prioritize targets Set targets based on benchmark (from previous similar campaigns) Use a dashboard to help review & improve performance to achieve targets 25
- 26. Without KPIs
- 27. In summary • Strategy: Different KPIs for each stage of the consumer journey • Use KPIs that indicate progress in the right direction : to the goal • Metrics: Identify key metrics that allow you to measure the KPIs • Integrate KPIs & metrics into every campaign plan • Tagging: Tagging equals campaign accountability • Implement tagging to empower measurement of campaigns • KPIs: Using KPIs right to help you do business better. • Monitor the dashboard and use insights to optimize activities.
- 28. THANK YOU
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- S pecificM easurableA chievableR ealisticT imely
- Actionable:Serves as ‘vital signs’ to monitor an activityGives indication when course correction is required before it’s too lateShows how much cloer/farther we are to our goal.
- Nissan Motor Company owns a network of websites across the world that helps consumers decide which Nissan vehicle they’d like to purchase. On these sites the visitor can explore products and services, download localized versions of promotional materials, and submit a reservation for taking test drive.
- Nissan wanted to access much greater detail – such as users’ preferences according to car type, model, and color – to enable them to measure more information about each inquiry Visitors requesting a test drive or brochure is prompted to complete a form that includes not only contact details, but also the vehicle they are interested in – including category, model, and color. Nissan simply places an e-commerce tag on the “thank you” page that follows the user’s completion of a brochure or test drive request form, and this enables the product preference information to be captured. By analyzing the resulting reports, Nissan’s Global Marketing Strategy Division can understand which vehicles are in demand, and can make decisions tailored for each local market. These insights have enabled quick decision-making on critical business activities as well as facilitating website optimization.
- Added tags to web- pages, enquiry & test-drive & brochure download forms that track user preferences.Custom reports allow Nissan to easily perceive complex information in one view, dramatically reducing the time to summarize multiple reports, document the findings, and share this within the organization. As a result, Nissan has been able to decentralize access to their different market operations. While the Global Marketing Strategy Division can quickly check results from the world, each country manager can also check his or her own result at one view to quickly assess the popularity of models for a specific region.
- Actionable:Serves as ‘vital signs’ to monitor an activityGives indication when course correction is required before it’s too lateShows how much closer/farther we are to our goal.
- A metric that cannot be affected is not useful ( Absolute visitors vs visitors month on month)Metrics that can only go up do not paint a true picture (Cumulative time spent on site vs Length of each session)
- A dashboard allows you to view all KPI & associated metrics. It also gives a summary of how well you are doing. Dashboards are critical to understanding KPIs and metrics from dataA dashboard is both the master health check for your campaign and a GPS to navigate the reams of data in order to understand what actions need to be taken.
- The ‘ask’ of the consumer at each step of the consumer journey is more involving and therefore KPIs also change to measure that involvement.
- Validate what you know by gut instinct.
- So how do you understand if the consumer has performed specific activities? You tag all items that help understand user actions.Tags give a lot of information.Each tag has their own numerical code that conveys information about the owner, the port of departure, destination, and flight details.Tags make it easy to trace each person travelling through the purchase funnel & decision making process.
- All pages created via Content Management System are tagged at Page Level automatically for .com, mobi and GOSPFor tracking of user interactions, Asset level tagging (such as banners, download buttons) for campaign activities on local sites is required
- PUMA used profiles and custom filters to create a holistic view of all of PUMA.com and a separate, targeted view of each PUMA category site. Used Key Event Tracking to measure interactions with dynamic page elements and Advanced Segments to isolate visitors from each region. Dashboard used to monitor effectiveness and track testing.
- Measure: Putting the basic KPIs & metrics in placeMonitor: Using a dashboard to understand your activity & progressOptimization: Using learnings from previous activities to make channels & messaging more effectiveRecommendation & ROI tracker: Tracking changes made & the resulting benefit.Testing: Focus on optimization & understanding what changes could yield max ROI
- For world domination