Marketing Effectiveness

Tuesday, April 30, 2019
09:30 - 17:00
ISBA Offices 12 Henrietta Street Covent Garden London WC2E 8LH map
£475 + VAT

An introduction to the science and art of understanding whether and why your marketing spend is working and how to measure success.

A practical and interactive course in marketing effectiveness. 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, we will take you 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.
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Course content:  

This course will cover numerous elements of marketing (including, but not exclusively):

  • Advertising / Media (traditional and digital)
  • Promotions (on-trade and off-trade)
  • Price
  • Product
  • Place / Distribution
This course will give you:  
  1. 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.).

  2. 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.

  3. 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?

  4. 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

  5. Econometric modelling:
    a. Linking advertising spend with revenue generation

    One 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 optimisation

    b. Linking promotional spend with revenue generation

    c. The role of intangible assets, such as Brand Equity and Customer Equity.

    d. Understanding outside factors on ROMI.

  6. 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).

  7. 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.)

What you will learn
  • Building blocks: metrics and data
  • Techniques: applying different analytical and statistical techniques to analyse the available metrics/data
  • Conclusions: drawing them, and communicating them

 

Key benefits
  • Individuals will gain valuable skills in understanding and applying marketing effectiveness techniques
  • Organisations will benefit from building in-house capability in this important area, enabling them to better assess and improve campaign effectiveness
Who is this course aimed at?

Anyone with a role or interest focused on the use of marketing data to improve campaign effectiveness. It is suitable for a range of skill levels, from those just starting to build their effectiveness skills to more experienced marketing practitioners. However, prior knowledge and experience of marketing is expected (whether planning, executing or reporting on campaigns).