Taking place at ISBA offices in London on Tuesday April 30, the course is designed to be an introduction to the science and art of understanding whether and why your marketing spend is working and how to measure success.
The famous quote “Half my marketing spend is working…I just don’t know which half” is an overused cliché that also happens to be often true.
In this full-day course, Jon will guide ISBA members through the principles and practice of using data techniques to understand whether (and to what extent) your marketing spend is working, why it is doing so, and how to communicate your conclusions to other stakeholders.
This course will cover numerous elements of marketing (including, but not exclusively):
- Advertising / Media (traditional and digital)
- Promotions (on-trade and off-trade)
- Place / Distribution
- An understanding of primary and advanced marketing metrics: there are many metrics to help understand how marketing activity has performed from a range of different sources (agency analytics, econometric analysis, etc.).
- Developing tools to assess the effectiveness of marketing programs, including ROMI (Return on Marketing Investment): we will look at the different tools that are at an advertiser’s disposal, from developing internal understanding to metrics available from outside sources.
- The importance of knowing your customer: here we will cover the many ways you can understand your customer and what drives them to purchase including which communication method is optimal for to drive engagement with your brand. What data sets and techniques are available to use in the absence of retailers sharing customer purchase data. How can you make data-driven decisions to support your marketing strategies and ensure success?
- Determining the drivers of customer acquisition and retention and therefore developing the strategies and measures to support both: it is important to understand how general marketing (and media) impacts both product types:• On trade: Understanding how different specific marketing (and media) activities impact the owners, and how to drive brand loyalty with consumers as well increasing market share in a highly competitive marketplace
• Off-trade: Understand what drives customers to purchase products in a highly competitive marketplace
- Econometric modelling:
a. Linking advertising spend with revenue generationOne of the key outputs of econometric modelling is understanding the impact advertising has on sales (and revenue). Understanding the differences between media types (and media strategies) will help influence optimisationb. Linking promotional spend with revenue generationc. The role of intangible assets, such as Brand Equity and Customer Equity.d. Understanding outside factors on ROMI.
- Web Analytics and Metrics for Social Media Marketing: we will cover key digital metrics in the course and how they interact. It is also important to understand how traditional media can influence digital metric and account for this (i.e. via digital attribution analysis).
- Developing a marketing dashboard, or set of metrics to measure performance: this section will start with re-highlighting the priority KPIs, what a dashboard could/should look like, and different development options available on the market today. It will end as an open discussion regarding the best option for a dashboard (KPIs, technological solution, etc.)
For more information on the course please click here.
For information on ISBA membership click here.