ISL Skillshare: Optimize For Success
- 1. 641 S ST NW. Washington, DC 20001 P: +1 202-683-9980 www.isl.co OptimizeforSuccess AUGUST 8, 2017 A HANDY GUIDE FOR SMALL BUSIN ES SES
- 2. 2 HI, MY NAME IS… JuliaSchroeder Analytics Strategist @julianofoolia, julia@isl.co
- 3. 3 1. Numbers Are Your Friend 2. Establishing KPIs & Tracking Methods 3. Advertising 101 4. Types of Paid Media 5. Targeting 6. Building a Budget & Projecting ROI 7. Example Time! 8. UTM Codes & Google Analytics 9. Takeaways TABLE OF CONTE NTS
- 4. OPTIM IZE FOR SUCCESS NumbersAreYourFriend 4
- 5. OPTIM IZE FOR SUCCESS 5 WhyWe’reHere Let’s say that you’ve established a web & social presence. You’re gaining traffic and picking up a social media following. How do you know you’re on the right track? Digital media offers what traditional media cannot - hard, real-time metrics. With the right know-how, you can develop measurable KPI’s and align a strategy to meet your goals. In this session, we’ll explore how to quantify your marketing efforts by developing trackable advertising strategies - all in the effort to help you learn from and optimize your digital presence.
- 6. 6 DataDrives Strategy C ONTEN T STRATEGY PUBLISHING + ENGAGEMENT PAID STRATEGY REPORTING INTRODUCTION It’s easy to ignore data… but you really, really shouldn’t. Reporting metrics are the unbiased & free way to evaluate success & inform next steps - and you don’t need to be a math or excel genius to use them!
- 7. 1. Areyouspendingeffectivelyacrossdifferentchannels? 2. Isyouraudienceaccomplishingyourdesiredweb/socialgoals? 3. Arecertaincreativeelements deliveringastrongerreturnoninvestment? 4. Docertainaudiencesegmentsoutperformothers? 5. Areyoumatching performancebenchmarksforyourprimaryKPIs? 7 INTRODUCTION WhatCanIGetOutofReporting? By gathering metrics on a monthly and quarterly basis (recommended), you’ll be able to draw insights which will allow you to make data-driven optimizations to your digital strategy. For example:
- 8. 8 INTRODUCTION SmarterTime& MonetaryInvestments All of this boils down to the above. Smarter marketing strategies help you to understand what drives your business goals, and cut out the fluff that doesn’t serve your purpose. It all starts with data.
- 10. ESTABLIS HING KP I’ S 10 They’re not as scientific as the name may suggest. KPI’saremeasurablevaluesthatdemonstratehoweffectivelyyouareachievingyour goals. We recommend choosing 1-3 primary KPI’s for each channel in order to build tactics to meet them. KeyPerformanceIndicators
- 11. 11 ESTABLIS HING KP I’ S • Impressions • Reach • Fans • Engagement Rate • Share of Voice • Sentiment • Link Clicks • Coupon Downloads • Conversions AWARENESS ENGAGEMENT DIRECT RESPONSE SocialKPIs WebsiteKPIs TRAFFIC CONVERSIONS BEHAVIOUR • Site Sessions • Returning VS New • Traffic Sources • Ecommerce • Downloads • Button Clicks • Time on Site • Pageviews • Bounce Rate
- 12. You don’t have to purchase expensive social media management or reporting software - platforms have built- in reporting tools for free! Google Analytics requires some initial setup; however, the process is well-explained and easy to follow. Youshould absolutelyinstallGAonyoursiteifyouhaven’talready! 12 ESTABLIS HING KP I’ S KPITracking: FreeToolsOfTheTrade FB BUSINESS MANAGER FB PAGE INSIGHTS FBADS ADS.TWITTER.COM TWAUDIENCE INSIGHTS IG BUSINESSACCOUNT GOOGLEANALYTICS
- 13. ESTABLIS HING KPI ’ S 13 FacebookPageInsights If you have administrative ownership of a Facebook page, you have access to page insights. Thisisoneofthemostcomprehensive,freetools forsocialmediareporting. You can: - Track Reach, Impressions, Fan Growth - Analyze Video Views, Post Engagements, Messages Received - Develop owned benchmarks to understand average performance - & more~
- 14. ESTABLIS HING KPI ’ S 14 TwitterAnalytics If you have administrative ownership of a Twitter page, you have access to Twitter Analytics. TwitterAnalyticsprovidesasnapshotofyour handle’sTweetperformance,topengagements, andmore: - Impressions, Engagement Rate, Link Clicks, etc. - Analyze audience information (age, demo, psychographic profiles) - Develop owned benchmarks to understand average performance
- 15. ESTABLIS HING KPI ’ S 15 If you have a website, don’t skip Google Analytics. Its free and delivers all the information you need to understand: - Howpeopleuseyoursite: Page views, downloads, actions performed - Howpeoplefindyoursite:Source of website entry (social channels, web search, etc.) - Howpeopleinteractwithyoursite:New/ Returning users, Bounce Rate, Avg. Site Session Duration, etc. GoogleAnalytics
- 16. 16 ESTABLIS HING KPI ’ S SoWhat? Once you establish a few primary KPI’s, these free tools will help you understandyourbenchmarks. It’s important to know what your average performance is across your KPI categories in order to set achievable goals. Thisbecomesincreasinglyimportantinthecontextof advertising.You want to know that your media dollars are doing work - and understanding your benchmarks is one the easiest way to do that!
- 17. Advertising101 17 OPTIM IZE FOR SUCCESS
- 18. ADVERTISING 101 18 While you may be able to achieve some of your business’s goals & KPI’s without advertising support, you’re probably going to have to invest in your business’s paid media at some point. As a small or new business, breaking through to your target audience may seem daunting: you may be competing with big-name brands with large advertising budgets, or may not know how to invest in advertising efficiently. This guide will give you the tips & tricks you need to know to kickstart your digital advertising strategy. GettingSmartwithYourAdvertising Dollars
- 20. 20 HowBuyingWorks Direct Buy Real-Time Bidding (RTB) • What: When you (the advertiser) strikes a deal with the seller (entity selling the ad space) to guarantee a fixed flight and media budget. ‣ Example: A full-page takeover of the New York Times website, an ad in a magazine, a TV spot during a certain program. • Pros: Ensured exposure ; Much easier to guarantee results upfront ; One transaction • Cons: Less flexibility in changing creative or flight ; Larger budget required ; Manual process & additional communication needed. • What: When you (the advertiser) leverages a programmatic seller (platform selling the ad space) to bid against other advertisers who are also trying to reach your target audience. ‣ Example: Self-serve platforms like Google Display Network, Google Adwords, Facebook, Twitter, etc. • Pros: Flexibility to swap creatives and budget ; Ability to control bid and remain competitive ; Targeting at your disposal • Cons: No true results “guarantee” ; Bid prices can be high if target audience is highly competitive
- 21. ADVERTISING 101 21 WhereShouldYouAdvertise? This depends on a few things, but should be informed by the following questions: ‣ Who you are advertising to? What audience are you trying to reach? Where is the most applicable place to find them? ‣ What is your goal? Are you advertising for awareness, or drive newsletter sign ups? Do you want to engage with a community or drive mass video views? ‣ What is your business? Do some media make more send than others? E.g., Terrestrial radio for car sales, digital radio for album promotion, Twitch for game releases, etc. ‣ What is your budget? Can your intended advertising budget support large scale format like TV, or will you need to play in more conversation or flexible advertising formats like display or social?
- 23. Ad sellers realized that they could make mad money if they could improve how advertisers chose to target and serve. As a result, your behaviors are collected to paint a picture of a virtual “you.” This is done via: ‣ Cookies: A text file sent from a website and stored in a user's web browser while the user is browsing that website. ‣ Web beacons: Also known as a "tracking pixel.” A a transparent graphic image (usually 1 pixel x 1 pixel) that is placed on a site or in an email, and used in combination with cookies to transfer or collect information through a graphic image request. ‣ Persistent IDs: Refers to "people-based" marketing as opposed to device-based. Persistent ID Targeting uses ID logins for sites or mobile apps such as Facebook; IDs are assigned to a user, and stay with the user throughout browsing and across devices. ADVERTISING 101 23 Targeting:It’sKindaCreepy
- 24. ADVERTISING 101 24 Targeting:SocialAdvertising Social media is where many users are most inclined to freely share personal information. This makes targeting options even more robust. Available targeting parameters include: ‣ The Basics: Age/Gender/Geographic/Language ‣ Interests: Page likes, frequented groups, activities, etc. ‣ Behaviours: Purchase history, travel history, browser preferences ‣ Socioeconomic: HHI, Cash VS Credit preference, Occupation/Industry
- 25. ADVERTISING 101 25 Targeting:SearchAdvertising Search ads rely on your search engine behaviors. While lifestyle/interest targeting offered by aforementioned social ads are limited, specific search keyword targeting is robust. Google AdWords is one of the best tools to get started! Available targeting parameters include: ‣ The Basics: Age/Gender/Geographic/Language/Time of Day ‣ Search Queries: Keywords and phrases plugged into Google ‣ Contextual: Groupings of keywords surrounding popular topics (“Dogs, “Pets,” etc.)
- 26. ADVERTISING 101 26 ChoosingYourTarget Because there are SO many different ways to target, advertisers can be selective in who their ads are served to. After all - the point of targeting is to not only to segment ideal target groups, but also to eliminate wasting dollars on uninterested ones. Matching the right people to the right messages at the right time leads to improved social performance at a reduced cost.
- 28. ADVERTISING 101 28 BudgetBasics “Cool, but how much money do I need?” ( Is the most frequent question I hear. ) Understanding how much money is the right amount is entirely dependent on your goals, cost benchmarks, target audience and number of assets. After that - some simple math formulas will tell you exactly how much advertising funds you need to set aside! 1: 2: Buying Goal Target Audience # of Assets 3: Cost Benchmarks 4:
- 29. ADVERTISING 101 29 BudgetBasics:BuyingGoals/Objectives Your buying goal should align with your intended campaign goal - but this time, it dictates how & when you bid. Advertising platforms call this the “Advertising Objective.” For example, if your Facebook campaign goal is reach, you’ll want to choose a buying goal within the “Awareness” category, versus “Engagement” category. This tells Facebook to bid against unique eyeballs at the most competitive price, allowing you to reach more people for your dollar. 1: 2: Buying Goal Target Audience # of Assets 3: Cost Benchmarks 4:
- 30. ADVERTISING 101 30 BudgetBasics:SelectingaBuyingGoal 1: 2: Buying Goal Target Audience # of Assets 3: Cost Benchmarks 4:
- 31. ADVERTISING 101 31 BudgetBasics:CostBenchmarks 1: 2: Buying Goal Target Audience # of Assets 3: Cost Benchmarks 4: Self-serve ads operate on a real-time bidding system. This means that means that for whatever buying goal you selected, the ad platform is placing you in “competition” with other advertisers buying for the same target audience. Based on how “expensive” your target audience is, your buying goal costs may rise and fall. Investing $100 for one audience may produce 15K impressions, but only 10K impressions for another, more competitive group.
- 32. ADVERTISING 101 32 Pause!VocalLesson. CPC: Cost per Click CPM: Cost per Mille AKA Cost per 1,000 Impressions CPR: Cost per Reach CPE: Cost per Engagement CPV: Cost per View CPA: Cost per Acquisition CTR: Clickthrough Rate Cost Per Conversion: Cost per intended action Flight: Runtime of the campaign Frequency: # of times your ad is shown to the same user on average GDN: Google Display Network Native: Within the platform Organic: Non-paid PPC: Pay per Click (Same as CPC) Relevancy Score / Quality Score: 1-10 number some ad networks assign that indicates targeting-content efficacy Retargeting: Allows marketers to display ads to people who have visited their website or are part of their contacts database SEM: Search Engine Marketing (Google AdWords, Sponsored web search) UTM: Urchin Tracking Module / A way to track links in Google Analytics by appending unique field to a URL Advertisers love a good acronym. Here’s some terms you'll want to have on-hand:
- 33. ADVERTISING 101 33 BudgetBasics:CostBenchmarks 1: 2: Buying Goal Target Audience # of Assets 3: Cost Benchmarks 4: Once you start advertising, you’ll be able to quickly gather your owned cost benchmarks. You’ll know that $X advertising investment typically produces Y impressions/engagements/video views, etc. Until then, we recommend using industry benchmarks as a projection starting point.
- 34. ADVERTISING 101 34 BudgetBasics:IndustryBenchmarks Facebook Benchmarks Twitter Benchmarks Instagram Benchmarks AdWords Benchmarks CPM: $6.33 CPE: $0.16 CPV: $0.05 CPC: $0.50 CPM: $10 CPE: $1.50 CPV: $0.10 CPC: $0.10 CPM: $6.30 CPE: $1.40 CPV: $0.05 CPC: $1.41 CPC: $2.32 CPV: $0.10
- 35. ADVERTISING 101 35 BudgetBasics:TargetAudience 1: 2: Buying Goal Target Audience # of Assets 3: Cost Benchmarks 4: Remember that target audience we made? We know the size of it. After locking down our buying goal, we can take those benchmarks to understand what it will cost to reach or engage with 25, 50, 75, or 100% of the audience one time. This is where your cost benchmarks come into play! For example, if you know the size of your audience is 10,000 people, and industry benchmark dictates a $6.33 CPM, you can follow the following formula: • (Sizeof Audience)/(1000)*(CPMBenchmark)=$Needed • (10,000Users)/(1000)*6.33=$63.30Needed
- 36. ADVERTISING 101 36 BudgetBasics:TargetAudience You can also prioritize budget by committing to reaching a specific percentage of that audience. This formula would look like: • ((Sizeof Audience*DesiredPercentageof Audience)/(1000)*(CPMBenchmark)=$ Needed $6.33 Facebook CPM 25% AUDIENCE: 2,500 REACH 50% AUDIENCE: 5,000 REACH 75% AUDIENCE: 7,500 REACH 100% AUDIENCE: 10,000 REACH COST TO REACH: $15.82 $31.65 $47.48 $63.30
- 37. ADVERTISING 101 37 BudgetBasics:CostBenchmarks 1: 2: Buying Goal Target Audience # of Assets 3: Cost Benchmarks 4: After gaining an understanding of the buying goal and cost per reach of the target audience, you’ll want to allocate funds according to the volume of assets going out. You’ve found that it only costs $63 to reach 100% of your audience? That’s great! Have 60 assets going out over a five month span? $63 isn’t going to cut it. Prioritize the % of your target audience you’d ideally like to reach per asset to determine ideal budget.
- 39. Next-levelTracking: UTMCodes&GA 39 OPTIM IZE FOR SUCCESS
- 40. NEXT-LEVEL TRACK ING 40 You’ve laid the groundwork for your paid strategy & are now familiar with the free tracking tools in your toolkit - Now it’s time to take your tracking to the next level. UTM codes are snippets of text added to a URL that tells Google Analytics various pieces of information. Depending on how detailed you’d like your tracking to be, you can configure UTM codes for any piece of content that contains a link. UTMCodes&GoogleAnalytics
- 43. 43 UTMCodes-YourNewTrackingBFF You can configure your links to hold the following information: - Source: Referral source (Facebook, Instagram, Email, etc.) - Medium: Organic, Boosted Post, Click-to-website ads, etc. - Campaign: Specific initiative; ex: “RecruitmentQ2” - Content (Optional): Differentiates between specific ad units if you're running multiple versions; ex: “Version1,” “2B”, etc. - Term (Optional): Used for paid search ads - but if you connect Google AdWords, this is done for you! ex: “Coffee DC,” “Coffee shop DC” https://raventools.com/marketing-reports/google-analytics/url-builder/ NEXT-LEVEL TRACK ING
- 44. 44 WhyTaketheExtraStep? OncedataiscollectedinGoogleAnalytics,therearenotake-backs.You cannot apply UTM tracking codes to posts, ads, or hyperlinked URLs after users have clicked in an attempt to retroactively filter that data. Google Analytics data is stored via how users arrived atthetimeofclick - and cannot be altered not after. So,ifyou’replanningtospendANYmediadollarsthatdrivetoyour website….thisstepisnon-negotiable!Doing so will allow you to see if certain ad units are delivering rockstar performance, and if others are falling flat. If you have a site, do not skip this step. NEXT-LEVEL TRACK ING
- 45. 641 S ST NW. Washington, DC 20001 P: +1 202-683-9980 www.isl.co A J. WALTER THOMPSON CO. Thanks! JuliaSchroeder Analytics Strategist @julianofoolia, julia@isl.co KEEP IN TOUCH .
- 46. Takeaways 46 OPTIM IZE FOR SUCCESS