Marketing key metric engagement assignment

Traditionally, marketers modeled consumers’ decisions as they progressed from awareness through consideration, preference, action, and loyalty ????” through what is called the marketing funnel (see Figure 1-1). The marketer’s Job was to move people from the large end down to the small end. But now it’s time for a rethink, as the funnel has outlived its usefulness as a metaphor. Face it: Marketers no longer dictate funnel because: ?????? Complexity reigns in the middle of the funnel. Awareness is still important; you need to know that a product or service exists in order to buy it.

And the marketer’s endpoint is still a transaction. But, in between, other factors such as recommendations from friends or family, product reviews, and competitive alternatives described by peers influence individuals. The funnel’s consideration, preference, and action stages ignore these forces that marketers don’t control. Rather than a clean linear path, the real process looks more like a complex network of detours, back alleys, alternate entry and exit points, external influences, and alternative resources (see Figure 1-2). ?? The most valuable customer isn’t necessarily someone who buys a lot. In this socially charged era in which peers influence each other as much as companies do, good customers can’t be identified solely by their purchases. l Companies also need to track individuals who influence others to buy. For example, a customer who buys very little from you but always rates and reviews what she buys can be Just as valuable as someone who buys a lot ????” her reviews might influence 100 other people to buy your product.

Our definition of engagement includes four components (see Figure 2): 4 Engagement is the level of involvement, interaction, intimacy, and influence an individual has with a brand over time. Figure 2 The Four Components Of Engagement INVOLVEMENT INTERACTION INTIMACY INFLUENCE What To Track ?????? Site visits ?????? Time spent ?????? Pages viewed ?????? Search keywords ?????? Navigation paths ?????? Site logins ?????? Contributed comments ?????? Quantity/frequency of written reviews, blog comments, forum discussions, and UGC ?????? Sentiment tracking on third-party sites (blogs, reviews, forums, etc. ???? Sentiment tracking of internal customer contributions ?????? Opinions expressed in customer service calls ?????? Net Promoter (NP) score ?????? Product/service satisfaction ratings ?????? Brand affinity ?????? Content forwarded to friends ?????? Posts on high-profile blogs ?????? ecommerce platforms ?????? Social media platforms ?????? Brand monitoring ?????? Customer service calls ?????? Surveys How To Track ?????? Web analytics Engagement goes beyond reach and frequency to measure people’s real feelings about brands. It starts with their own brand relationship and continues as they extend that relationship to other customers.

As a customer’s participation with a brand deepens from site use and purchases (involvement and interaction) to affinity and championing (intimacy and influence), measuring and acting on engagement becomes more critical to understanding customers’ intentions. The four parts of engagement build on each other to make a holistic picture. ?????? Involvement. This component is the most basic measurement of engagement and reflects the measurable aspects of an individual’s relationship with a company or brand. It includes actions like visits to a site or a physical store, time spent per page, and ages viewed.

For example, Brandlntel tracked sentiment about the film Snakes On A Plane and TV series Heroes. Eighty percent of the conversation about Snakes On A Plane focused on the hype of the film and Samuel L. Jackson the actor, not his character, while Heroes conversations were all about the characters and the premise of the show. This is why Heroes is a hit and Snakes was a flop; Brandlntel’s studies show that people aren’t really engaged unless theyre talking about plot and characters rather than hype and actors. You can measure influence through opt-in surveys, mailed questionnaires, or customer service calls and phone surveys.

With a new set of components ????” involvement, interaction, intimacy, and influence ????” companies can integrate data from many sources to build the engagement profile, an aggregate description of the types and levels of engagement your customers exhibit. But with all this new data, what metrics matter, and how can you combine them? To understand how engagement affects customer value, consider these three customer scenarios that reflect different customers and how they approach one brand, an online retailer: ?????? Charlie: passive participant. Charlie’s Just not that into you.

For some brands, it would make sense to start a brand ambassador program to draw users like Sarah closer to the company and energize their word-of-mouth. 7 8 Figure 3 Passive Participant PROFILE????” CHARLIE ?????? Passive participant ?????? Reads and views others’ contribution ?????? Only participates on rare occasions ?????? Not registered on the site Involvement Interaction Intimacy Influence ?????? Text analysis shows that the few comments Charlie makes tend to show favorable sentiment ?????? Text analysis of the