Archive for the ‘Digital Marketing’ Category

 

Through this blog, I wish to share a solution that allows brand managers to measure, compare, and contrast the success of their Digital media campaigns across Consumer decision journey

 Need Identification: McKinsey’s CDJ works perfectly for a number of reasons:

  • Marketplace is bombarded with digital stats but marketers are want “green up” arrows because they don’t understand the data that they see often.
  • Digital reports are either too simple or too complicated to really make enough sense about the campaign (or conversely too much noise and they can’t tell the difference, and it’s never given adequate context so they can tell). Digital brand managers are so beaten up by their managers and directors to prove out ROI, they don’t know what to do.

Opportunity: Create a metrics chart for helping a marketer save time, money and relieve tension instead of generating another report that can be sliced numerous ways and keeping them up even more hours at night. This metrics chart works around the actual acquisition “journey” as it helps the marketer understand the business process far better, gives them a campaign context and helps them understand what is happening to the campaign globally as it culminates in ROI thus giving a much broader picture to look at before he/she dives into specific reports.

Scope:  To make sure that marketers target and clarify the actual value of the CDJ and even prioritize the benefits revealed in the updated “decision journey” that buyers are following. To do this, it’s required to do a better breakout of the McKinsey CDJ and identify hard value for the online marketer.  The CDJ exposes the role of VOC (voice of consumer which quite often is Social and shows the tipping point move away from messaging from the advertiser to the qualifying from real life validation by friends, likes shares, eBay/Tech-tree/Compare India reviews etc) and also reveals a 4th or to their mind “inner loop” which they skew heavily towards both retail and brand loyalty.

Challenge: This is not just a metric chart, but it delivers the actual business value of the metric and how actionable it can be made. This has been worked out for product online marketing campaign and I have kept out the brand management/Corporate marketing scope out of it. Reason being, if online activities are undertaken for online brand management then certain activities like website management, SEO, SMM, ORM are on a retainership basis and broad level KPIs.

The shared metrics in the image can always be customized as per the campaign’s requirement and business objectives.

Also, please make a note that an Advertising content and message will have to do justice with the key objective meant for each CDJ stage. Please refer to the “sink-the-funnel” graph, it will have to create push effect. Example If a brand manager objective is to move prospect from consideration set to evaluation set and he throws a generic brand message ad, it will not serve the objective.

I have kept the below metric chart simple and added my comments next to metrics so as to make it self-explanatory.

Enjoy reading and travelling across the CDJ!

Cheers!

Please click on the below link to download the metrics in excel sheet form

KPI for Digital Product Marketing_CDJ

Key Performance Metrics of Product Online Marketing Campaign for each CDJ Stage

Metrics chart that helps brand managers to measure, compare, and contrast the success of their Digital media campaigns across Consumer decision journey

2020 –India at the Fulcrum of Digital Age

This paper attempts to illustrate the impact of Internet penetration on not just the consumer behaviour and lifestyle, but also on the way business will be conducted in India by 2020. Due to phenomenally increasing accessibility of Internet via mobile phones coupled with availability of Technologies like RFID, Augmented Reality and Cloud Computing, mobile phones will become the prospective unique identifier of an individual in both real and Digital world and would bring about convergence of both the worlds. This convergence will form the basis for marketers to determine the consumer profile and target accordingly. Mobile phone would just not remain a means of communication, but it would increasingly be used for several other activities like Online bill payment, Remote control of Devices, to act as credit card etc. Consumers expect to get their stuff 24 X 7 from palms of their hands. Online medium will become the preferred medium of marketers and mobile phone will be the key initiator of this paradigm shift.

To read the complete paper, please click on below link:

2020 – India at the Fulcrum of Digital Age

Today, we all would certainly relate to the fact that we live in an online world more than we live in the physical world.

Living life virtually, almost 24*7! Aren’t you? Infact, even our thinking pattern is in  format of facebook post or tweet’s 140 characters! Yeah…not always, but most often. What’s say? You can come out of the Self-realization mode now 🙂

Inside the house, you are exchanging thoughts with your hubby over the facebook? or calling him to the living room for having dinner through fb 😉

Latest Reflex Action for the new “we” digi reporters:

  • The moment you are well dressed up, the very next moment goes up the post pic. And your partner is the first one to like it :=) awwwww
  • When u see a canine  taking a bio break on ur friends bike, u don’t shoo  it away but capture that moment in ur phone and proudly break it on YouTube

Even before the kid of a celebrity is born, people start discussing the delivery date and kids name 😀  Big B would certainly admit that all netizens are today’s digi astrologer 😀

Infact, even our bosses follow us on this space and appraise on public forum. An instant performance evaluation – if he/she likes, +1, retweets, replies, share or give a #ff 🙂

U r talking or listening, bored or happy, sleepy or awake, travelling or watching movie, in conference or in mall – u r glued to your device that let us LIVE our digital life consciously or sub-consciously……ALWAYS ON

Our virtual life is so very full of such digitalized moments, that all of us can scarp about our ONLINE life 🙂 and make tunes like “we dress for facebook” 😀

Good night to all Digital Doctorates, with this small piece of self-realization!