Sunday, August 29, 2010

C.O.D. Campaign Management

To ensure that C.O.D.'s KPI's are measured (returning clients/visitors to site), the company will connect with Google's Analytic services to ensure that the company's goals of being the leading digital distributor are being met. C.O.D.'s key performance indicators are solely focused on assessment of searchers looking for our sight/services and gaining the needed information for their project through variable search engines and our partnerships with social media sites (Facebook, Myspace, Twitter, etc.). To ensure that the company's ability to capture its goals, C.O.D. will evaluate metric results for site Bounces, Bounce Rates, Clicks, Entrances/Exits, % of Exits, Time on Page/Site, Page Views, Search Depth, Total Unique Searches, and Search Exits. This information will be vital in assessing our achievement of set goals and objectives as identifying C.O.D. as the leading digital distributor within the music industry.

To ensure that C.O.D. is meeting its goal with consumers, assessing the conversion rate will be critical in determining our ROI (Return On Investment) that will provide our accounting department with information about the company's E-commerce revenue. To further enhance our marketing campaign, it is critical to monitor Goal Conversions ensuring that consumers have achieved the desired outcome if utilizing our channels. With that, the allotted budget for our campaign totals $75K. Of the total budget, $40K will be reserved and utilized for C.O.D.'s viral marketing campaigns. The remaining $35K will be apportioned for site construction and design for digital promotional campaigns. Within the viral marketing campaign, the desired conversion would be 25K views. This number of views/visits will result in a cost per conversion of $1.60. In regards to website views through Search Engine Optimization, C.O.D.'s budget is $4,500, and the desired number of conversions is 20K within the first year, resulting in the cost of conversion totaling $0.23 a person. Advertisement on Facebook, which will cost $18,250 for one year, would result in a cost of $1.22 per conversion if the desired goal is 15K conversions (viewing the website from the Facebook Ad). Lastly, the remaining $12,250 will be used in the development of advertising campaigns for email marketing. If C.O.D. is able to capture 5K conversions (consumers visiting the site), the cost of conversion would equal $2.45.

In closing, one of the essential elements in assessing need for change within our campaign will be focused on the assessment of the company's Bounce Rate from prospective clients. If there is a 50% increase in our sites bounce rate, our marketing department will begin re-evaluating our current marketing approach and begin to develop a format that will optimize searchers' goals in utilizing our site.  It will also be vital to reflect on the company's Goal Conversions to ensure that visitors find all that they are looking for within our site. This information will be vital in the maintenance of and increase of C.O.D.'s performance indicators, as well as, assist in the increase of predicted revenue that our campaign is set to capture. Also after reviewing the information, it may be more cost effective to minimize the budget of email promotions if there is a low number in our conversion rate indicating that prospective clients are not responding to the marketing campaign.

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