Advanced Measurement

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Advanced Measurement On-Demand     Register    

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Overview

In this module, you’ll go deeper with direct marketing math, as well as how to apply this new knowledge for your company’s benefit. All formulas and analytical methods are explained step-by-step with examples so you can understand the calculations and apply them yourself. Methods such as the two-step promotion planning and holistic measurement will help you take a deeper approach to metrics and measurement.

Topics

  • Relationship between customer lifetime value (LTV), Acquisition Cost and ROI
  • Maximizing lead volume within allowable acquisition cost (AAC)
  • Factors in calculating LTV
  • Multichannel Metrics – challenges and solutions
  • Useful test and experiment designs
  • Why moving toward a unified customer view is important

 
Duration
Approximately 90 minutes - self paced

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LTV, Acquisition Cost and ROI

  • Leveraging the Relationship between LTV, AAC and ROI Revenues
    • The Ultimate DM Metrics
    • Relationship of ROI to LTV and AAC
      • ROI, LTV and AAC Relationship exercise
  • Two Step Promotion Planning
    • Extensive work through exercise of two-step promotion planning
    • 3 effort fulfillment campaign
    • Working with Target CPL and Required Response Rates

Allowable Acquisition Cost and Customer Lifetime Value

  • Maximizing Lead Volume within your AAC
    • Extensive exercise: Maximizing lead volume
    • Cost per media property
    • Working with roll-out quantity
    • Cumulative Cost and Cumulative Response Rate
    • Cumulative CPL
  • Factors in Calculating Customer Lifetime Value
    • Customer Lifetime Value (LTV)
    • Extensive exercise: Calculating LTV
    • Calculating costs & gross profit
    • Three year exercise
  • Calculating the discount rate
    • Calculating the discount rate in LTV exercise

LTV, Acquisition Cost and ROI

  • Leveraging the Relationship between LTV, AAC and ROI Revenues
    • The Ultimate DM Metrics
    • Relationship of ROI to LTV and AAC
      • ROI, LTV and AAC Relationship exercise
  • Two Step Promotion Planning
    • Extensive work through exercise of two-step promotion planning
    • 3 effort fulfillment campaign
    • Working with Target CPL and Required Response Rates

The Challenges and Key Considerations

  • Multichannel Measurement Challenges
    • Four key challenges
      • Multichannel consumer
      • Marketing silos
      • Lack of centralized data
      • Attribution
    • Meeting the challenges
  • Taking a Holistic View
    • 4 tools for a holistic view of measurement
      • Look beyond response rates
      • Benchmark your brand awareness
      • Create an engagement score
      • Measure the value of social media
    • What’s Your Brand Worth?
    • Making it work for you
    • Match engagement to sales
    • What’s a Facebook Like Worth? It Depends!
    • The Halo Effect

What to Test

  • Choose your Metrics
    • The Dashboard Trap
    • What to do with too much information
  • How do you Improve ROI? Test. Test. Test.
    • Why do we test?
    • Matrix testing
    • Incremental Channel Test Design
  • Know your Attribution Options
    • Common Attribution Methods
  • Move Toward a Unified Customer View
    • Customer Experience: Frustration and Silos
    • Cell Organization
    • Multiple Touches – One Consumer
    • Multiple Touches – Multiple Consumers
    • Change is a Problem
      • Customer Data: Change Is Constant
    • Takeaways
Are you just dying to attend one of DMA’s Education seminars this year, but you’re not sure how to convince your boss to let you attend? Try one of these approaches or download our customizable convince your boss letter.

Try:

    • I know budgets are tight, but this is an opportunity that pays for itself instantly. A single tip from any of the DMA seminar could pay for the costs of the whole training. I’ll be learning secrets from practicing experts and industry thought leaders.

 

    • I'll become more proficient in industry best practices, as well as on the latest tactics and technologies in today’s ever‐evolving marketing landscape. From direct mail to data governance, social media to email marketing; the DMA has all of our needs covered.

 

  • I can share what I learned after the seminar; maybe host a brown‐bag working lunch and present the team with all the new techniques, strategies, and ideas I’ll come back with. Combining my own notes and ideas with the session handouts provided by the DMA, I'll have plenty of inspiration and information to share when I return. Besides… this’ll allow everyone to get trained all for the price of sending just one person; and the team will definitely appreciate the opportunity to find out about the latest strategies used by many of our competitors today.

 

Still presenting itself as a hard sell? Inform your boss that your course can go on their accomplishments at the end of the year for their review: "Trained staff to improve results!" This is a win/win.

Instructor Bio
Chuck Mcleestee 300x180

Chuck McLeester
Direct/Relationship Marketing Strategist, Measured Marketing LLC
Chuck McLeester is a marketing strategist and analyst with experience in a variety of categories including healthcare/pharmaceuticals, financial services, pet products, travel/hospitality, and publishing. He spent several years as a client-side direct marketer before moving to the agency side 25 years ago. His areas of expertise include direct marketing, relationship marketing and digital marketing. He has created groundbreaking online and offline relationship marketing programs for consumer and pharmaceutical brands for Johnson & Johnson, The Iams Company, Procter & Gamble, and many other clients. A thought leader in the area of measurement and metrics, Chuck developed many innovative response analysis techniques. He has been a featured speaker at the Direct Marketing Association’s annual conference for the past 15 years in addition to his numerous other speaking engagements. Read More

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Related Courses
Fundamental Measurement
Multichannel Measurement