Data Driven Marketing Ch 1 Video
1:14 – How do you start goal creation?
2:49 – Define my source of traffic
5:10 Define what the assets in the process are going to be
Chapter 1 of my book on data-driven marketing is about defining the goal. Before you get into the expense of setting up databases, and automation tools, and engagement tracking, it would first be good for your organization to make sure that they can set defined goals. As we walk you through the 12 steps of setting up data-driven marketing inside your organization I thought that starting with goals was important. Some people may put this after the setup and implementation of technology and data, but if you can’t get through this chapter with an understandable goal for your organization or your campaign, really don’t read on past this until you’ve taken care of this one element.
We’ve provided a link to download a checklist on everything that you’re going to need to do to be able to implement data-driven marketing inside your organization, and we’ve provided some resources on how to do proper goal setting and measurements to make this even easier. You’ll find it in the resource section of this book. Let’s get into setting goals.
That is interesting. We’ll just keep rolling. We’re in an accelerator, so there’s 50 different businesses in this building and somebody just yelled something. I have no idea.
How do you start goal creation? I’m going to walk you through the tactical side and then I’m going to do a little bit of the strategic side for you in this video. The tactical side is the individual elements that you need to be able to account for and measure it in your campaign. It starts with what is the end goal of the campaign. I firmly believe always start with the end in mind. Is this going to be a campaign to generate leads? Is this going to be a campaign to engage our contacts into demo requests? Is this going to be a campaign to actually sell our product from a landing page? We need to define what we want to sell, and then we need to define statistically how many we want to sell.
Let’s say for the sake of this video that I want to launch a campaign into my database and I want to get 10 demo requests that lead to 2 sales. I’m going to write that down, 10 demos, 2 sales. Now I know exactly what I want the outcome to be. Now all of the other things that I do from a strategic planning and implementation and a measurement perspective are going to be geared towards that goal. At the end of this I’m going to look to see did I reach my goal. If yes, did I exceed it and how did I exceed it so that I can set better goals in the future? If no, where in my process did I fail? Was it at initial engagement? Was it an opt-in? Was it a throughput conversion? Was it at the actual sales processing side? Where did I fall apart statistically so I know where to address fixing this going forward?
The next thing is I want to define my source of traffic. Number 1 was define the end result. Number 2, source of traffic. As a source of traffic you might be thinking SEM, Google AdWords or Facebook marketing. You could be thinking organic. When I think of source of traffic is how am I going to get eyeballs onto to this campaign? It could be email. It could be a live event. It could be a lot of different things, but we need to define exactly what it is going to be for this campaign. We need to understand that each traffic source has an independent measurement variable that we need to consider. If you’re going to group together Google AdWords with big organic and Facebook marketing with twitter referral all into one campaign and not measure them independently, then don’t start a data-driven marketing. You have to setup a measurment channel for each individual traffic source so that you can see what the end result of each of those is.
I always recommend when I’m launching a new campaign to pick one traffic source, implement it there, learn about it, then re-implement that traffic source maybe with another traffic source. Go from 1, to 2, to 3, to 4, and every time I’m re-implementing them with the previous ones with the improvements so that I’m actually learning. Once you get to the point where you have algorithms in place that can measure these things and predict which things you need to do, it’s going to be important that you setup proper measurement in each of the individual channels.
Number 3: I want to make sure that when I compare my recommended traffic source with my persona elements of my campaign that there is a match. Now, what does that mean? If I’m looking to do demo requests to marketing agencies that offer organic style services, organic trafficking conversion, I want to look at on Facebook paid am I targeting only digital marketing agencies instead of end users or businesses. I want to look to see that if I know that I typically sell them to the C-Suite of companies that do under $5 million a year in revenue that I’ not targeting $100 million dollar a year companies that probably are already using a platform like this, so that I can make sure that I have match on what I’m doing. I’m giving you an example of one of our actual campaigns so that you can see that we eat our own dog food and that this book is being written around our experience doing this for ourselves and for clients.
Next, I want to define what the assets in the process are going to be. This can be landing pages. It can be social media pages. It can be thank you pages, email conversions, phone calls. How do I outline each of the assets that are going to be put into play as I implement this campaign, which is in the goal defining stage? The next is I have my end result, I have my trafficking source, I have defined and measured that there is … I did a comparative analysis of my persona relative to the traffic source to make sure that there’s match, I’ve outlined the assets that I’m going to use in my process, so now I’m going to start to define what the KPIs are that I want to measure. KPIs; key performance indicators.
How many of the people do I engage with do I expect to get in front of my offer? Whether that be a landing page, a live event, an email open, a sales phone call, what is the statistical outcome of the first stage of this process? Then what is the second stage? What asset are we going to interact with? Is it going to be a script that our call center uses? Is it going to be the presentation that I make at a live event? What are the expected KPIs of those activities? How many people do I expect to pick up the phone? How many people do I expect to make my pitch to? How many people do I expect to have a follow-up conversation with?
I also want to, at this point, start to outline number 6; any known variables that I might not be able to fully account for in my campaign that I want to outline and set aside. I want to be able to measure those as best I can, or at least know how they affect negatively or positively to KPIs that I can statistically measure.
The last piece of this is after I’ve outlined all of this and I’ve done all of the known veritable analysis I want to set the time frame. When am I going to implement this? How long is it going to last? Time frame and expense, so that I know exactly what the outcome is of this overall activity. When you look at like Napoleon Hill and you talk about it from a holistic perspective and you do goal setting, you need to set the goal, which is the defined outcome. You need to set the time frame. Goals don’t go on forever. They need to know the date that you’re going to launch or attempt to reach it, and the date that you’re going to say that you should have reached the goal so that you can measure. Then you’re going to create the strategy. Then you’re going to implement and then you’re going to review, analyze and adjust as you need. The goal never changes, only the process of getting there does. Everything in data-driven marketing, just like everything in business, everything in life revolves around setting goals and following a systematic procedure to reach them.
In this chapter, Chapter 1, Defining Your Goal, we went through the 7 steps. I’m going to repeat them one more time to close this out. Define the end result that you want to reach. Figure out who your traffic source is going to be. Compare and do comparative analysis of your traffic source with your persona. Make sure that you outline all the assets that are in the process. Define the KPIs that you’re going to use and then get the expected measurement. Number 6, outline any variables that you can think of that could affect the overall campaign, and then set a time frame and measure of expenses and implementation strategy to make it a holistic plan before you implement.
If you’re completing this video or Chapter 1 of this book you should have a defined goal in all of these elements outlined in your checklist, and use the resources that we made available to help guide you through how we do this inside of our own organization. So in the appendix you’ll find goal setting for Enfusen demo accounts. This will help you to see that process that we went through and how we analyze our assets so that you could do the exact same in your businesses. This is Chapter 1. Look towards the next chapter, which is Creating Your Database so that you can continue to move forward with implementing data-driven marketing in your organization. Thank you.