Tuesday, 1 December 2009

Objectives: The web marketing process (part 5)

The Web Marketing Process | Objectives
This article is part 5 of a series. You'll find part one here. And part 4 here.

Get live updates as each new part is released: Follow on Twitter.

In parts 2-4 we looked at setting objectives for a web marketing campaign. In particular, we found out how to use the resulting information to find the number of visitors needed to achieve the campaign revenue target.

A Campaign Plan is an essential component of The Web Marketing Process. In fact, another way to think about The Web Marketing Process, is to view it as the section headings of a marketing plan. Click the following link and download section one of The Web Marketing Process Campaign Plan (free PDF, no email address required).

Once you have the Campaign Plan displayed in a browser, I suggest you print a copy for yourself so you can refer to it easily throughout the rest of this article. If you find any of the following confusing, revist parts 2, 3 and 4 of this series.

This is section one of the Campaign Plan. As you progress through this article series, you'll be able to download other sections of the plan until you have a complete Campaign Planner.

Naturally, section one focuses on objectives and targeting. In this article, we'll look at objectives and move onto targeting in part 6 of The Web Marketing Process.

How to fill out the Campaign Plan:

Name:
You can call the campaign anything you like. Ideally the name should make it possible to tell one campaign from another. For example, if I was running a seminar on the 9th of December I might enter: Seminar 09/12

Start Date:
The date the campaign promotion starts. For example: 2/11/09

Budget:
The amount you're prepared to invest in promotional costs. For example, the amount you'll invest in advertising, copywriting, photography and whatever else you'll need. Example: £500

% ROI:
The desired return on your campaign budget. Example: 200%

Target Revenue:
The amount of your budget plus the return on that money. Example: £1,500 (£500 + £500 x 200%)

Average Income Per sale:
The amount you expect to make, on average, per sale from this campaign. Example: £150 and ticking (i.e. checking) the Net box

Sales Required:
The number of sales required to achieve the target revenue. This is the target revenue ÷ the average revenue per sale. Example: 10 (£1500 ÷ £150)

Appointments Per Sale:
The number of appointments needed, on average, to get 1 sale. If you don't know, start with a guess. Example: 4

Leads Per Appointment:
The number of leads needed to get one appointment. If you don't know, start with a guess. Example: 4

Visitors Per Lead:
The number of visitors needed to get one lead. Example: 28

Visitor Target:
The number of visitors needed to achieve the target revenue. This the visitors/lead x leads/appointment x appointments/sale x sales required. Example: 4,480 (28 x 4 x 4 x 10)

Budget/Visitor:
The amount of money I can afford to spend on each visitor. This is the budget ÷ visitor target. Example: £0.11 (500 ÷ 4480)

You should now be looking at the initial information you need to start your first campaign. As soon as you've completed the initial section of your Campaign Plan, you're ready to move onto part 6 in this series - Target Marketing.

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3 comments:

Sarah said...

Thank you, for such a clear and comprehensive post. Since I’ve been reading you, I feel I have begun to understand more about this topic. Please keep writing. I just hope people are listening to you and reading you.

Wayne Davies said...

Hey Sarah, thanks for your kind words. You're welcome to help spread the word via a link to this blog from Twitter, your own blog, your Facebook page, LinkedIn page or website.

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