#dfb2b 2015 - steve muylle, driving digital results in b2b markets

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DRIVING DIGITAL RESULTS IN B2B MARKETS

Steve Muylle, PhD Full Professor & Partner

DISRUPTION

3

© Vlerick Business School4 © Prof Dr Steve Muylle

DISRUPT JOB MATCHING?

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRw&url=http://be.accent.jobs/nl/job-blog/detail/ontdek-nu-onze-nieuwe-swop-app-versie-1.1&ei=6NCBVfm3OcmR7Abg_YHgDg&bvm=bv.96041959,d.ZGU&psig=AFQjCNFvSn8zc6Y5DCUGAlJvuHCn5pCKpg&ust=1434657380215713


DISRUPT JOB MATCHING?

http://www.pinoytutorial.com/lifebytes/eharmony-log-in-helps-people-with-disabilities/

© Vlerick Business School

“GETTING AMAZONED”

6

“We seek to be Earth’s most customer-centric company for four primary customer sets:

consumers, sellers, enterprises, and content creators.”

- Jeffrey P. Bezos Founder and Chief Executive Officer Amazon.com, Inc.

© Prof Dr Steve Muylle


TECH VALUATIONS

DIGITAL STRATEGY

8

© Vlerick Business School © Amit Basu & Steve Muylle

DIGITAL STRATEGY

9

(Source: adapted from Bharadwaj et al. 2013)

Organizational Performance

DIGITAL STRATEGY

Contexts Modes

Processes

KEY TECH TRENDS Analytics - Big Data Cloud Computing

Cognitive Computing Internet of Things

Mobile - Social

KEY MARKET SHIFTS Customer Behavior

Digitization of Products New Business Models Redefined Ecosystems

© Vlerick Business School © Amit Basu & Steve Muylle10

PROCESSES

Source: Basu Amit and Steve Muylle, How to plan E-business Initiatives In Established Companies, MIT Sloan Management Review, Vol. 49, No. 1, lead article, pp. 28-36, Fall 2007.

© Vlerick Business School11

SIEMENS LIFE PORTAL

Source: Stefaan De Moor, Service Director, Siemens NV, [email protected]© Prof Dr Steve Muylle

RESULTS

12


ORGANIZATIONAL PERFORMANCE

How does your firm evaluate the success of its customer facing digital initiatives?



DIGITAL ADVERTISING REVENUES

© Vlerick Business School © Prof Dr Steve Muylle15

GOOGLE

http://www.youtube.com/watch?v=fuFfx3BmYCI


FACEBOOK


http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=KtCPLJ3-42TaZM&tbnid=D7PA0ojRkIPWMM:&ved=0CAUQjRw&url=http://blog.fanpagekarma.com/2012/10/30/kpis-overview/&ei=WzqSUsGvHO_I0AWL5IDYDA&psig=AFQjCNHv7ay5EcIf8zWtW2EDFKPT-XPadg&ust=1385401206722951


MEASUREMENT

“If you try to measure every single thing you are doing, you will manage the ants while the elephants are storming by.”

Sheila Jordan, Cisco

Senior Vice President of Communication and Collaboration IT



METRICS

Many tech companies rely on “unique financial or operational metrics” to demonstrate their size or growth prospects, including their user numbers of even the number of people who “like” their company.

“In the absence of a clear description, it can be hard not to think that these big numbers will inevitably translate into big profits for the company. But the connection may not necessarily be there.”

Mary Jo WhiteChair of the Securities and Exchange Commission



FACEBOOK AND TWITTER “BUY” BUTTONS



PINTEREST AND INSTAGRAM “BUY” BUTTONS


http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRw&url=http://www.digitaltrends.com/mobile/pinterest-dives-into-e-commerce-with-buy-button/&ei=GsWBVbXwIcrxUIDSgfAF&bvm=bv.96041959,d.d24&psig=AFQjCNF0IHkk1N5UHQteEw5BMEcEBYXwBQ&ust=1434654244480228

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRw&url=http://blog.business.instagram.com/post/120537653811/the-next-steps-for-ads-on-instagram-new-formats&ei=X8WBVeD_J4r8UPf2gaAB&bvm=bv.96041959,d.d24&psig=AFQjCNH0RDLxHrsc8V9M94_xDVb7b3TfJA&ust=1434654413676263


METRICS

▪Financial metrics ▪Revenues (e.g., online product sales, ARPU) ▪Costs (e.g., CPM, CPC, CPA) ▪ Profits (e.g., CLTV, ROI)

▪Operational metrics ▪Open rates, bounce rates, unique visitors,

visits, visit duration, CTR, downloads, requests, fans, likes, shares, conversations, followers, … ▪Customer satisfaction, promotion, … ▪Brand awareness, associations, attitude, …



METHOD

1. Define measures that matter, and develop attribution models that capture the relationships between them

2. Leverage digital tools and analytics to collect and analyze the data across user touch points

3. Develop a dashboard for follow-up

4. Stimulate real-time measurement and experimentation (e.g., A/B testing)

5. Decide on which measures to report



ATTRIBUTION MODELS

Go beyond the measurement of “last click wins” if

users take multiple steps before converging

Define a key conversion outcome (e.g., a sale) and

analyze and map the paths that delivered the

conversion

Organize for tracking systems that identify the user

across online and offline channels



USER PATH AND ATTRIBUTION

© Steve Muylle & Amit Basu

AuthenticationSearch PaymentValuation Logistics Configurati

onCustomer Service BICollaborati

onIntegra

tion

Website

LinkedIn Ads

Google Adwords

E-mail

Media Ads

Direct Mail

Website

Tel call

Interview

Brochure Brochure Invoice

Applica-tion Form

Class room

Mobile App

Yammer

E-mail Yammer

Tel call Tel call

E-mail

Trusted 3Parties

Program Finder

Tel call

E-mail

PDF Brochure

E-mail

WebsiteON

LIN

EO

FFLI

NE

At individual, segment (persona), aggregate level


ATTRIBUTION MODEL

RANK PATH (SEQUENCE OF MECHANISMS) CONVERSION

Google Ad – Website – Form

Website – PDF Brochure – Website – Form

Direct mail – Brochure – Form

17

10

7

1

2

3



METRICS FOR ATTRIBUTION MODEL

Mechanism Operational Metric

Financial Metric

Google Ad Clicks CPC

Website Visits – Unique Visitors - CTR

CPV

PDF Brochure Downloads CPD

Direct Mail C2A CPC; CPA

Brochure Requests CPR

Form Attrition/Fill rate Revenue


CASE STUDY

27


BARCO

28 © Steve Muylle, Freya De Berti, Lieven Bertier


BARCO CLICKSHARE

ClickShare wireless presentation system CSC-1 – Full-featured wireless presentation system for high-profile meeting rooms and boardrooms

(April 2012)

CSM-1 – Wireless presentation for standard meeting rooms (November 2013)



DOWNSTREAM VALUE CHAIN

30

Barco Distributors Resellers End user firms

© Steve Muylle, Freya De Berti, Lieven Bertier


LEAD GENERATION

31

Awareness

Engagement

Contact

Lead

© Lieven Bertier


USER TOUCH POINT - EVENTS



USER TOUCH POINT - PRESS



USER TOUCH POINT - E-MAIL



USER TOUCH POINT - GOOGLE ADWORDS



USER TOUCH POINT - WEBSITE



USER TOUCH POINT - TWITTER



USER TOUCH POINT - FACEBOOK



USER TOUCH POINT - YOUTUBE


http://www.youtube.com/watch?v=jHJ6SOrSEvI


USER TOUCH POINTS

End Users

Events Press E-mail Google Adwords Website Twitter Faceboo

k YouTube



RESEARCH QUESTION

Is Barco’s digital strategy for ClickShare on the money?



5S FRAMEWORK

S Typical metrics

Sell Online sales

Serve Conversion rate, duration

Speak Discussions, ratings

Save Cost reduction, increase Web self-service

Sizzle Improve branding metrics, add features to

customer online Source: Chaffey & Smith

© Steve Muylle, Freya De Berti, Lieven Bertier42


DATA

Monthly user touch point and unit sales data User touch points elaborated in terms of views, clicks, shares (where appropriate) Period: March 2012 – August 2014 Analysis through multiple hierarchical regression (IBM SPSS 21)



ATTRIBUTION MODEL

44

YouTube views

YouTube min w

Press clipp.

Website views

Website contact Leads

Sales +4mths

Blog

Facebook

Events

Twitter

Adwords clicks

E-mail



ATTRIBUTION MODEL

45

YouTube views

YouTube min w

Press clipp.

Website views

Website contact Leads

Sales +4mths

Adwords clicks

2.917.47

.45

27.74

.722

17.61

.473

2.5

.02

Events


Facebook

Blog

Twitter

E-mail


ATTRIBUTION MODEL

110 extra unique web site visitors result in 1 extra lead 1 extra lead on average results in 3 extra units sold

Hence, the assumption is that for every 36 extra website visits, one extra unit gets sold.

How to drive traffic? 1 press clipping => 17 extra unique web visitors => 0.15 leads per clipping 2 YouTube views => 1 extra unique web visitor => 0.02 leads per You Tube view An event leads to 30 leads Google Adwords => every click leads to 0.7 extra unique web visitors => 0.007 leads per click



NEXT STEPS

47

Continue research collaboration Continue data collection Calibrate the hypothesized model

Refine Barco’s digital initiatives for ClickShare based on the research study insights



CONCEPTUAL VIEW

Authentication

Off

line

On

line

Search PaymentValuation Logistics Configuration

Customer Service BICollaborati

onIntegra

tion

Twitter

Facebook

Google/ YouTube

Website

Events

Press

E-mail

Press

Events Events Invoice Distri-butor Reseller Reseller

Twitter

E-mail

Website

Facebook

Website

© Steve Muylle & Amit Basu

Google/ YouTube

Reseller

© Vlerick Business School © Prof Dr Steve Muylle

Where’s the beef in your disruption initiatives? The key is to implement digital strategy initiatives that deliver. Many organizations get side tracked because of the multitude of KPIs provided by tech firms and agencies. A set of key metrics is to be defined that enables the organization to course correct, based on proper attribution.

TAKE AWAY

49


THANK YOU!

Steve Muylle, PhD Professor & Partner Vlerick Business School

Contact [email protected]

Connect

www.linkedin.com/in/stevemuylle

#dfb2b 2015 - steve muylle, driving digital results in b2b markets

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