Sam Ruchlewicz for PRAXIS 2018
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The document discusses measuring the impact of storytelling in marketing. It notes that many marketers struggle to quantify the value of storytelling efforts and link them to business outcomes. It proposes developing a framework with aligned metrics to measure how storytelling influences key performance indicators and profits. The goal is to demonstrate how storytelling contributes directly to business goals like increasing sales, preference, lifetime customer value, and other priorities.
Sam Ruchlewicz for PRAXIS 2018
- 1. W E L C O M E ! Measuring the Impact of Stories One of the most frequent complaints/challenges I hear from both clients and colleagues is the lack of a framework for measuring the impact of marketing efforts – including storytelling - on an organization’s overall marketing and business strategy. 1
- 2. VP - Warschawski Warschawski is a global, full-service marketing communications agency headquartered in Baltimore, MD with offices in NYC and Washington, DC.
- 3. HELLO, LET ME INTRODUCE MYSELF… I’m Sam. I have a fairly non-traditional background in finance, but I currently manage all digital marketing & data analytics initiatives & accounts for Warschawski. I’m on the faculty at Betamore Academy, Cabrini University & Johns Hopkins & teach graduate level courses on a variety of topics. I’m also involved in the start-up community and love all things ice hockey and football (the American version) STRATEGY DIGITAL MEASUREME NT LinkedIn /in/samruchlewicz Twitter @samruchlewicz E-mail [email protected]
- 4. PEOPLE DON’T READ ADS. PEOPLE READ WHAT INTERESTS THEM. Howard Gossage
- 5. PEOPLE LIKE STORIES Stories are more than just entertainment – from an evolutionary standpoint, they are essential for communicating knowledge, shaping attitudes, creating social norms and fostering social cooperation – in short, most of the things that make us human. In fact, the human mind is wired to divert attention and precious resources to character-centric narratives – which, in turn, causes a host of biochemical reactions that ultimately result in our being more inclined to take actions.
- 6. 6 WE HAVE FOR A LONG TIME In fact, some researchers from MIT analyzed 1,327 different works of fiction from the Project Gutenberg library using sentiment analysis – and found that nearly all of them followed one of six emotional arcs or trajectories – and almost all of them follow a similar narrative pattern STORIES FOLLOW PATTERNS
- 7. 7 CONNECT & ENGAGE Stories allow us to forge a human, personal connection in an increasingly digital, impersonal world WHAT DO STORIES DO? What is the point of telling stories? How do they help us capture our prospect’s attention, captivate them with our messages and convert them into loyal, paying customers? INFORM & EDUCATE Humans retain exponentially more information from a story than from a mere recitation of facts – allowing brands to inform and educate consumers simultaneously INSPIRE ACTION Engaging stories naturally cause audiences to empathize with the characters and they trigger the same biochemical activity as if the audience was experiencing the story first-hand – providing a perfect opportunity to drive action LOVE & LOYALTY Stories are memorable experiences – they bring us closer to brands and forge the types of emotional connections that countless studies have linked to brand loyalty and preference. Your challenge is to determine what stories do this best.
- 8. 8 Biologically, humans are wired to detect patterns – whether or not they are there. Stories play into that need, constantly generating and releasing tension in a (fairly) predictable way. In fact, studies show that stories generate both cortisol and oxytocin. ATTENTION We’ve all seen the movie Inception, right? Where an idea implanted in a person’s mind goes on to shape their reality? Well, the same thing happens with stories. We remember them. We internalize them. And we use them as bases for action in the future – consciously or not. BELIEF Stories can be up to 22x more memorable than facts and figures alone – likely because (1) stories engage our entire brain and (2) our ability to use them has been selected for over thousands of years of evolution MEMORABILITY Humans are wired to feel stories as if they are experiences; stories stimulate the entire brain – not just the parts associated with language. Stories, then, engage the entire brain – which is both memorable and emotive. EMOTION S T O R I E S & M A R K E T I N G
- 9. WHY ARE WE HERE? Since stories are so wonderful and great, so ingrained in our history and our biology, then why are we here? Clearly they are effective. But it doesn’t matter what we know. It matters what we can prove.
- 10. THE PROBLEM
- 11. H O W T H E P R O B L E M S T A R T S 11 Someone – usually in the marketing department or the C-Suite – insists that the company begin incorporating ”stories” in communications - for whatever reason THE DRIVER Everyone jumps & starts creating stories galore. We share them on social, we use them in ads, we publish them everywhere we can. Things are good. WE TELL STORIES! No one has good answers to the good questions – and no one knows where to get them. Things are decidedly NOT good. HOW DID WE GET HERE? The problems peak the attention of some HIPPOs – who starts asking questions about the storytelling program. Why are we doing it? How has it helped us? Should we be doing more? Doing less? Where does it fit in our sales & marketing strategy? QUESTIONS ARISE Excitement fades. Buyers’ remorse sets in. Stories cease to have the impact they once did. Complaints or customer service issues may start. No one is sure what stories to tell, or how to tell them. Inconsistencies arise. UH-OH
- 12. 12 “We’re spending a fortune on these ‘Content Marketing’ consultants – and I don’t even know what they’re doing!” “What do all of these metrics mean? Is it good if more people “like” our new brand video? How do I read these reports? What is useful here?” “The CEO says we NEED to be on Social Media, but I don’t know what we need to do on there or how it helps us sell our products & services.” ”Our SEM is converting through the roof! We should just fire those content guys and spend all of our money on that!” T H E P R O B L E M Most marketers – about 61% according to a HubSpot survey, to be exact – cite content marketing (including storytelling) as a “go-to” marketing tactic. The problem arises when those marketers are asked to quantify the value of the outcomes produced as a result of those efforts.
- 13. R E P O R T I N G There are simply too many “metrics” being thrown around – and there is too little emphasis on identifying and solving for the ones that actually matter to the bottom line. And unless you have clarity of your goals, there is simply no way that you’ll be able to quantify the value of your marketing/media/storytelling/social/digital efforts – let alone justify the budgets supporting them to C-Suite executives ENGAGEMENT RATE What does this even mean? FOLLOWER SWhat are they good for? REACH Who here knows that this is a calculated metric? UNIQUE VISITORS CPM SENTIMENT COMMENTS 13 IMPRESSIO NS AVE CPV C LIC KS LIKES SHARES
- 14. 14 WHO CARES? What is the value of a story to your business? How does the number of ‘likes’ on brand story help you achieve your goals on social or other channels? And most importantly, how are the stories your company is telling helping you achieve your bottom-line goals?
- 15. STEP BACK
- 16. T H R E E B I G Q U E S T I O N S 16 HELP THE BUSINESS? HOW DO YOU KNOW? IS IT WORTH IT? WHAT ROLE DO STORIES PLAY? For humans, stories can be a connector, an educator, and an entertainer. For business, the roles stories play are likely different – is it a converter, an informer, an engager? What are stories doing to help you engage, captivate and convert your target audience into real, paying, profitable customers? WHAT IS SUCCESS? Storytelling is a marketing investment – even if you are just sharing content you already have. There’s time, creative, design, review, etc. So, how do you know this is time/resources well spent? What does success look like? How does that success help your bottom line? WHAT STORY TO TELL? This is one of those questions most people don’t both to ask – everyone assumes that since people are social storytellers, businesses should follow suit. But does that make sense for your brand?
- 17. HOW DO YOU KNOW? The four words that will forever change your life as a marketer, social media guru, analytics junkie, brand evangelist, whatever.
- 18. THE (BIG) PROBLEM SOUND FAMILIAR? Marketing Team: Traffic is up across every channel! CTR is up, CPC is down for our paid search campaigns, overall content marketing/storytelling efforts are a HUGE SUCCESS! Lots of ROI! Executives: Great! But how does this impact our expected earnings for Q2? Marketing Team: Well, our brand story video generated 65% more engagement on social over last year! Executives: …..
- 19. 19 METRIC DISCONNECT Content/Social metrics don’t correlate to business outcomes 2 UNCLEAR STRATEGY Regarding how storytelling is expected to contribute 3 NO COORDINATION Across teams and departments regarding content/story 4 BAD THINGS HAPPEN There’s a reason CCOs & CMOs have the shortest tenure in the C-suite. And there’s a reason the average agency relationship lasts less than 18 months P U T A N O T H E R W A Y Most marketers have absolutely no idea what contribution (if any) storytelling efforts are making to their bottom line – and no idea how to figure it out. Lack of clarity here = a lack of understanding in what stories to tell 1
- 20. RESET
- 21. 21 S T O R I E S TACTILE Humans feel stories in a personal, human way MOTIVATIONAL Stories are natural motivators – whether that be to remember, to buy or to share. They inspire action INNATE Humans have a unique, innate predisposition to see patterns – and stories align nicely with that tendency VIRAL Stories are shareable because they are memorable – once we see the pattern of the story, we can easily share it EVERGREEN We’ve been telling versions of the same story for millennia – and we’ll likely continue doing it forever. Why do we tell them? What do they do? How do they help?
- 22. T H I N G S W E C A R E A B O U T 22 AWARENESS TRUST THOUGHT LEADERSHIP PERCEPTION CREDBIILITY CUSTOMERS SALES PROFIT
- 23. 23 PREFERENCE DEAL SIZE DEAL VELOCITY LIFETIME VALUE Why do we buy from one brand over another? Why do we trust one bank over all of the others? Why do we pay more for Apple or Starbucks? Small deals are nice – big deals are nicer. Stories not only help close the sale, they help us cross-sell or upsell, increasing overall transaction revenue. Stories are natural motivators – they inspire action. In business terms, a story that resonates is likely to encourage buyers to make purchases now. Stories create emotional connections – which tends to result in higher LTV (ask Starbucks) and increased customer loyalty WHICH DRIVE
- 24. 24 & W H A T M A T T E R S (PEOPLE & PROFIT)
- 25. 25 H O W I T S H O U L D B E Storytelling measurement doesn’t need to be a foreign concept or something that “just has value” – we can (and should) quantify how effective our stories are so we know which ones to tell (and which ones to not). P R I O R I T Y 1 P R I O R I T Y 2 P R I O R I T Y 3 BUSINESS GOALS ALIGNED METRICS PROFITABLE REALITY What do we expect Stories to do for us? That allow us to see if stories are meeting our goals The thing we’re all looking to find
- 26. A BETTER WAY I’ve been obsessed with thinking about this situation – and I’m convinced there is a better way to do this. Because as marketers and communicators, we’re creating a TON more value than we’re getting credit. And that needs to change.
- 28. 1 2 3 4 28 The things we count – like impressions, site visits, followers, retweets, etc. VANITY METRICS Better-than-vanity metrics (like CTR, CPV, etc.) that provide some context to vanity metrics and allow us to better understand what is happening, maybe in real-time PERFORMANCE METRICS Connecting metrics to KPIs and looking for interesting relationships; segmentation across different performance metrics; statistical analysis INSIGHT DRIVEN A complete, quantified understanding of how our marketing organization is performing relative to the user’s intent and what is likely to happen next. PREDICTIVE, END-TO-END OUTCOMES A VISION FOR MEASUREMEN T
- 29. THE END GOALTHE PLACE EVERY STORY MUST START
- 30. OBSESS ABOUT INTENT You can’t judge every visitor by a transaction or every new customer by their LTV – that’s not materially different from judging a fish by its ability to climb a tree. Stories should be designed to meet people where they are and take them to where they want to go – which is why we need to measure every stage of the process and obsess about intent.
- 31. 31 1 2 3 4 SEE Largest Addressable Qualified Audience THINK Largest Addressable Qualified Audience with some commercial intent DO Largest Addressable Qualified Audience with A LOT of commercial intent CARE Customers with at least TWO transactions F R A M E W O R K S Here is one (incredibly useful) framework for doing exactly that – developed & made popular by Avinash Kaushik at Google. I use it in more detail on the following slide
- 32. A C Q U I S I T I O N B E H AV I O R O U T C O M E S SEE THINK DO CARE MARGINAL INCREASE IN SEARCH I.I. BRAND RECALL CONVERSION RATE AMPLIFICATION APPLAUSE CONVERSATION MICRO- CONVERSION LOYALTY RATIO LTV PER CUSTOMER PROFIT PER PLACEMENT & USER MICRO- CONVERSION SITE ENGAGEMENT REPEAT VISITORS PER PLACEMENT VIRAL COEFFICIENT 32
- 33. B E T T E R M E T R I C S 33 BRAND PERCEPTION PERMANENCE II PURCHASE PROB. ECONOMIC VALUEDoes the story create an emotional connection with your brand? Do those people who hear/see/experience it tend to think of your brand more favorably after the story? The average individual sees upwards of 5,000 brand messages a day – so how long does that story remain in their mind? How memorable is it? Does your story inspire action? Do the individuals who see/hear/experience your story exhibit a higher propensity to purchase than those that don’t? The holy grail - the true value of your story to your company, broken down in bottom-line terms. In other words, is this a profitable endeavor?
- 34. 34 OTHER AWESOME METRICS These are just some of the metrics that can be used to calculate the value of stories – and I’m sure there are many more PROFIT PER PLACEMENT OR STORY APPLAUSE AMPLIFICATION CONVERSATION RELATIVE CONVERSION TIME MARGINAL INCREASE IN SEARCH PURCHASE INTENT LIFT INCREMENTAL INCREASE IN BRAND RECALL INCREMENTAL INCREASE IN DOMAIN AUTHORITY MARGINAL INCREASE IN INFLUENCER SCORE UNIQUE ENGAGED USERS THOUGHT LEADERSHIP INDEX CONVERSATIO N RATE PER STORY OR CHANNEL VIRAL COEFFICIENT LOYALTY RATIO
- 35. 1 2 3 M E T R I C S A R E N O T E N O U G H 35 Metrics alone will not tell you the degree to which a particular story or campaign or whatever actually added real value – after all, you were going to convert some customers anyway. Seek to quantify incremental value added – don’t succumb to post hoc, ergo propter hoc QUANTIFY VALUE ADDED QUANTIFY While we all LOVE quantitative data, many of the game-changing insights lie in the qualitative realm – the comments, the reviews, the tweets. Incorporating qualitative data with quantitative can yield incredible insights into what stories are resonating – and which ones aren’t. QUALITATIVE MATTERS FEEL Every great brand is continually refining the stories it tells based on customer feedback – both overt (collected) and implied (clickstream/monitoring) – and you should do the same. After all, people do lie to us (I know you’re shocked) TEST, TEST, TEST EXPERIMEN T
- 36. 36 T H E Q U A L I T A T I V E S I D E So any attempt to quantify their impact must take into account the positive (or negative) emotions they create within your target audience. Luckily, we live in a world where most people post their feelings online regularly – and tend to do so all the time. Sentiment Analysis provides a powerful tool for marketers to understand the qualitative side – and even predict which ads will be most successful STORIES DO MORE THAN IMPACT NUMBERS OR PURCHASES
- 37. E C O N O M I C V A L U E M E T H O D S 37 COMPARABLES ONLINE/OFFLINE FINANCE WITH & WITHOUT Use your company’s established models for comparable tactics/channels/whatever. Take it. Use it. Tag all of the “leads” generated online (coupons, forms, offers, unique phone number, etc.) in the CRM, wait 1.5 sales cycles and pull the results. Finance/Accounting should be your BFF. They have a ton of models that you can use to evaluate everything, from LTV to Expected Value to ROI. And they know how much other areas of marketing pay for comps. “With & Without You” is actually a borrowed sport-stat reference meant to capture the value of a player based on how (s)he impacts the play of teammates.
- 38. 38 USE THE ONE THING EVERYONE GETS (Money)
- 39. W E C A N M E A S U R E T H A T , T O O 39 Social Listening L Sentiment Analysis S Digital Platforms D Network Analysis N We’re fortunate to live in an age when everyone – from a small child to a grandparent – has the ability (and in the inclination) to post their thoughts and feelings – all the time. It has never been easier to understand how key members of your target audience are feeling about your story, ad or brand Sentiment Analysis allows us to better understand the content and context of conversations at scale Network Analysis allows us to quickly understand the nature of influence – who is connected to who, how influential various people are and how likely a story is to resonate
- 40. 1 2 3 4 5 40 WHAT ARE STORIES? To put it simply: they are a better way of earning the attention of your target audience. So measuring their impact is as simple as measuring the impact of every other ad Structure A Test Launch the Creative Calculate The Increment Translate to Bottom- Line Outcomes Calculate ROI or ROAS
- 41. SOME EXAMPLES
- 42. MEH. Basic Facebook & Analytics reports provide little real value – and a ton of ”vanity” marketing metrics. None of this tells us how effective our stories (or anything, really) are at engaging, inspiring or converting our prospects into customers.
- 43. PRETTY GOOD! We can see the per session value for each channel – as well as the fact that social (in this case) is dramatically under-performing relative to other channels like paid search and affiliates. But this doesn’t show us how effective our stories are – it simply shows us channels. Not as helpful, but it is better than the FB/GA defaults. And drilldowns into this report might reveal that specific messaging/campaigns are better than others.
- 44. SOLID Per session value AND conversation probability – great step!
- 45. M E A S U R I N G I M P A C T 45
- 46. QUITE HELPFUL These graphs (all provided courtesy of Facebook & Nielsen) show us how effective our stories are – and how long a prospect must be exposed to them before we can expect to see effects to recall, awareness & purchase intent. The graph at right shows us how significant each tactic is (FB, TV, both) at generating purchase intent.
- 47. EVEN BETTER One of the big questions marketers need to ask is how often a prospect needs to be exposed to a story before an effect (awareness/recall/purchase intent) is created – which is answered by the chart at left. Knowing this, we can optimize delivery of ads to maximize effect and minimize cost. The chat at right shows us just how powerful stories can be – a sequence of three ads generates 8x lift over three sustained ads
- 48. ONE STEP MORE
- 49. I T A P P L I E S T O E V E R Y O N E 49
- 50. PROOF ANALYTICS
- 52. One of AirBnB’s greatest challenges was convincing customers that it was OK to stay in people’s houses – and convincing homeowners that it was safe to have guests CONNECTIONS AirBnB launched in 2007 with a goal to radically change travel & lodging – by creating a peer-to-peer rental system INNOVATION There’s also the profit component of this – could AirBnB scale this new concept into a profitable business, all while competing with traditional hotel marketing powerhouses? NUMBER ONE
- 53. 53 2 IMPORTANT GOALS Airbnb quickly learned that stories could help them achieve two (equally) important goals: (1) create emotional connections between guests & hosts, thereby increasing bookings and (2) make it easy for hosts to get started, thereby increasing supply to meet demand Airbnb had a rough start – after the first year, the company was making less than $1,000 a month ($12,000/year) in reservation fees. Times were tough – and the company resorted to selling cereal to raise capital ROUGH START One of the major complaints with the platform was that the pictures – and the stories – were lacking. Prospective renters couldn’t “see themselves” staying at various properties, which discouraged booking COULD STORIES HELP?
- 54. V I S U A L S T O R I E S 54 Airbnb’s three co-founders became “self-taught” photographers, traveling regularly from San Francisco (where the company was based) to NYC (where the most rentals were located) in order to meet with customers and take “professional” pictures of Airbnb properties
- 55. S O C I A L C O N V E R S A T I O N 55 Airbnb invests in professional photographers for listings; sees 2x jump in reservations TURNING POINT 1 Airbnb launches ”experiences” for hosts/travelers to connect in more meaningful ways TURNING POINT 2
- 56. 0 20 40 60 80 100 120 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… 20… Airbnb launches ”experiences” for hosts/travelers to connect in more meaningful ways TURNING POINT 2 S E A R C H I N T E R E S T 56 Airbnb invests in professional photographers for listings; sees 2x jump in reservations TURNING POINT 1
- 57. 0 500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 3,500,000 2009 2010 2011 2012 2013 2014 2015 2016 2017 Airbnb launches ”experiences” for hosts/travelers to connect in more meaningful ways TURNING POINT 2 N E W Y E A R S B O O K I N G S 57 Airbnb invests in professional photographers for listings; sees 2x jump in reservations TURNING POINT 1
- 58. 58 ANNUAL BOOKINGS & REVENUE One of Airbnb’s initial user complaints was that properties were not desirable – and it was difficult to determine what it would ”feel” like to say at one of these properties. In short: there was no personal, emotional connection between host & guest $- $200,000,000.00 $400,000,000.00 $600,000,000.00 $800,000,000.00 $1,000,000,000.00 $1,200,000,000.00 $1,400,000,000.00 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 0 20,000,000 40,000,000 60,000,000 80,000,000 100,000,000 120,000,000 Room Nights Revenue Airbnb invests in professional photographers for listings; sees 2x jump in reservations TURNING POINT
- 59. 59 AIRBNB IS A GLOBAL PHENOMENON The number of Airbnb properties by continent, 2018 North America South America Europe Africa Asia Oceania 1.2 M 250 k 1.8M 100 k 600 k 250 k
- 60. K E E P I N G I T G O I N G 60 Airbnb has fully committed to its brand story – helping guests “experience places like a local” – and that is reflected in every aspect of the UX “LIKE A LOCAL” Expanding on this success, Airbnb launched “experiences” in 2017, where guests can learn to make pasta from an chef in Italy or hike with wolves in Portland. You choose the experience, Airbnb brings it to life (profitably!) EXPERIENCES Finally, there are stories – which Airbnb launched in 2018. These allow guests to share their trip with others, and hosts to create powerful, lasting emotional connections STORIES
- 61. 1 2 3 4 61 Airbnb’s team of marketers & data scientists is constantly testing image, copy & host information to see what performs best & generates bookings TESTING The company has built several algorithms to continually scan reviews and recommendations - helping to determine which stories resonated and which reservations delivered memorable, positive experiences NLP & REVIEWS While historical data is helpful, what really moves the needle for businesses is forecasting – being able to approximate the impact of proposed changes -- which is exactly what Airbnb does every day FORECASTING IMPACT Armed with all of this data, Airbnb makes it easy for photographers to take the best photos, for hosts to incorporate the best features and for users to find exactly the property they are looking for – keeping them engaged in the story and coming back for more PRESCRIPTIVE MODEL ALWAYS MEASURING IMPACT
- 62. IN ACTION: NIKE
- 63. This story was created to speak directly to core Nike target audiences – Millennials, African Americans, etc. AUDIENCE One of Nike’s over-arching goals in this campaign was to leverage an existing social conversation in the US within their brand storytelling efforts CONVERSATION As a major player in a highly elastic, short- sales-cycle space, Nike was searching for a way to boost revenue immediately REVENUE
- 64. 64 Story within a Story Engineered To Appeal Ready For Backlash Plan To Calculate Impact A DIFFERENT KIND OF STORY In the “Kaepernick Campaign”, Nike took a powerful stand and aligned its brand with a divisive individual and a (possibly) more divisive social issue. What does this tell us about storytelling? And how can we measure impact
- 65. 1 2 3 65 PRETEST REPORT Nike pre-tested the “Dream Crazy” Kaepernick campaign – and it almost wasn’t launched because of the results from ABX Overall Score of 94 (Below Average) The Campaign’s Clarity & Brand Scores were Dismal Strong “Talk” Scores Indicated Backlash Was Likely
- 66. B E F O R E & A F T E R 66 Nike Favorability Strong Favorable Favorable Neutral Negative Nike Favorability Strong Favorable Favorable Neutral Negative BEFORE AFTER
- 67. T E S T B R E A K D O W N S 67
- 68. T H E P R E P 68
- 69. 69 The online reaction was swift – and negative – to Nike’s Kaepernick campaign. But that’s not our entire story; and Nike was ready for it. SWIFT NEGATIVE REACTION
- 70. I G N I T I N G A C O N V E R S A T I O N 70
- 71. P U R C H A S E I N T E N T 71
- 72. 72 THE IMPACT What does all of that translate into? Was this just a conversation-starter or did this campaign actually product some bottom-line results? 31% Increase in Online Sales (14% Incremental YoY) $78,696,290 per week in incremental US revenue $9,507,232,078 Market Capitalization Increase
- 74. BETTER MEASUREMENT ISN’T OPTIONAL DON’T LET THE PERFECT GET IN THE WAY OF THE NECESSARY 1
- 75. DON’T MAKE IT AN AFTERTHOUGHT LINK WHAT YOU’RE DOING TO WHAT THE COMPANY CARES ABOUT FIRST 2
- 76. END-TO-END OUTCOMES SHOW YOUR BOSS & THE WORLD THE IMPACT YOU ARE MAKING! 3
- 77. T H A N K Y O U ! A N Y Q U E S T I O N S ?
- 78. AWESOME! Same report as above, with RPC (revenue per click) and CPC (cost-per-click) data added – which allows me to quickly see which clicks/campaigns have the potential to be profitable (and which ones don‘t!)
- 79. E V E R Y T H I N G L O O K S G O O D ! The Power of PowerPoint | thepopp.com 79 All Channels & Campaigns Profitable!
- 80. B U T … I S I T R E A L LY ? 80 A Deeper Look – Some Campaigns Are Net Losses
- 81. P I P E L I N E V S . T R A N S A C T I O N 81 Higher Ratios = Pipeline Potential Lower Ratios = Trans. Revenue
- 82. VA L U E C R E AT E D B Y C A M PA I G N 82 How much it’s all worth!
- 83. B O T T O M - L I N E I M PA C T S 83 Higher Ratios = Pipeline Potential Lower Ratios = Trans. Revenue
- 84. S T O R Y S T R U C T U R E 84 INTRODUCTION COMPLICATION CLIMAX FALLING ACTION DENOUMENT Freytag’s Pyramid – a structure that we can trace all the way back to Aristotle and the Ancient Greeks – still holds true today; in fact, a similar structure is found in cultures around the world (Jo-ha-kyū, Kishōtenketsu, etc.)
- 85. S T O R Y S T R U C T U R E – P A R T 2 85 Nancy Duarte, in her book Resonate, argues that effective stories – from presentations to advertisements and beyond – all follow a similar pattern and similar structure, designed to lead the audience through a situation using the story’s protagonist as a guide. The chart at left shows how the experiences of the audience (in blue) are driven by the actions and experiences of the protagonist (in grey), all while following the same general Freytag structure. This shows how stories can help us understand problems we didn’t know we had and imagine how possible solutions might make our lives better. BRINGING THE AUDIENCE ALONG
- 86. S T O R I E S B Y S T A G E 86 LOYALTY RETENTION ACTION INTEREST ATTENTION AWARENESS Does the story increase awareness among individuals previously unaware of your brand? AWARENESS Does the story generate interest - i.e. some level of commercial intent – among those paying attention to it? INTEREST Is the story memorable? Do potential customers who hear the story tend to remember it? How long does this memory persist? Is it favorable over time? RETENTION Does the story capture the attention of your target audience? Do they stay engaged? ATTENTION Does the story drive action – whether that be a social media share or a purchase? How significant is this impact? ACTION Are those individuals who remember the story more likely to be loyal customers? Does the story increase their likelihood to recommend to re-purchase? By what margin? LOYALTY
- 87. 87 Storytelling is a business activity There are very real costs associated with doing it – including content creation/curation, promotion and evaluation Like every other (good) business activity, storytelling should make a measurable contribution to your organization’s bottom- line goals L E V E L S E T
- 88. Everyone loves to be “popular” – and marketers are no different. Whether it’s page “likes” or the dreaded following-to-follower ratio. We love to see our stories shared, read & heard. The problem is that being popular doesn’t pay the bills. And it doesn’t justify budgets. It just makes us feel good about ourselves. POPULAR Every marketer’s dream – the ability to quantify the impact they are having on the company’s bottom line (and in doing so, justify their continued existence). How many of your stories are profitable? PROFITABLE
Editor's Notes
- #3: No slide master
- #33: H/T: Framework - Avinash Kaushik; Chief Evangelist at Google
- #38: For instance: 100 web leads generated, 80 viable, 50 pitched, 20 closed. Total Revenue: $200,000. Margin: $35,000. Value per lead: $350. You can do the same thing to value various goal completions: Segment & Calculate Relative Value (easy) Run Cross-Market Tests (cease one advertising tactic in a few markets for 1.5 sales cycles; maintain advertising in the others) – measure the outcome
- #46: FB Creative Test Infographic – provided by Facebook
- #47: FB Creative Test results – provided by Facebook
- #48: FB Creative Test Infographic – provided by Facebook; Nielsen Digital Brand Effect Test Example; provided by Neilsen
- #49: Sentiment provided by Brandwatch (I believe)
- #50: No idea where I found this one
- #51: Provided by Proof Analytics (proofanalytics.ai)
- #56: No slide master
- #57: No slide master
- #58: No slide master
- #59: Source: Airbnb public documents
- #60: Airbnb
- #67: No slide master
- #68: No slide master
- #69: No slide master
- #71: No slide master
- #72: No slide master
- #73: Nike public filings & various media reports
- #86: Found on: http://tomtunguz.com/storytelling-duarte/