514: The Problem with Marketing Success Metrics in 2017 w/ Elle Woulfe

ABOUT THIS EPISODE

In this episode we talk to Elle Woulfe, VP of Marketing at LookBookHQ.

Are you struggling to come up withoriginal content, weaken and weak out start a boncast interview, your idealclients? Let them talk about what they care about most and never run out ofcontent ideas again learn more at sweetfish media DOLCOM, you're. Listening to the be te begrowth, show a potcast dedicated to help him bee to be executive, achieveexplosive growth, whether you're looking for techniques and strategiesor tools and resources. You've come to the right place, I'm James Carburry andI'm Jonathan Green. Let's get into the show, welcome back to the Beautby growt showwe were here today with l Wolf. She is the vpofmarketing at book. HQ L, Howreyou doing today, I'm Jongrea. I am a real excited to chat with you today.I've actually been I've been hearing a lot of people talk about lookbook HQand some of the Lincoln posts that I have been sharing and so so getting totalk to you it something I'm reall...

...excited about, but before we dive intothe topic today, we're going to be talking about the problem withmarketing success metric in twenty seventeen. Before we get into that I'dlove to have you explaind to our listeners, what is lookbookage q? Whatare you UNOTMUP tere over there? So we are a GRO stage, company based OT OFTORONTO. I actually personally sit outside of Boston Massachusetts. I aman honorary Canadian, not Arand. We are an intelligent content platform, sobasically we help marketers to always deliver the next best content asset onguide their buyers on theirbuying journey. You know we believe thatmarketers can generate really great outcomes for themselves, for theircompanies and for their audiences. So we do this by making it easier formarketers and their audiences, Jo t simultaneously achieve their goals, andnot is you know, people consuming the right content at the right time andmarketers measuring the truth behind...

...their marketing is working, so we buildreally easy. Implement solutions for marketers that deliver amazing resultshere after year, and part of that is, is what we're going to talk about today,which is helping them to understand the truth behind marketing metrix, gettingdeeper insights Thanto how people are consuming marketing so to dive right into that L. I I guessW we'll start just by talking about of what marketers are doing today. Whatare they doing to look at their success? Metrics N in twenty seventeen sure soheyouthink about sort of where we've come from as B be marketers. I I workedat Elqua for a long time on the DMA generation side and you know ten twelvefifteen years ago it was revolutionary. This idea that we were going to be ableto sort of track what people were doing. Online people are calling a digitalbody, language online behavior. We could, you know, drop cookies and sortof see where people were going and suddenly you know the buying processwas happening online and the fact that we had some insight into what peoplewere doing was was empowering both...

...marketers and Satles people. Whensuddenly, you know the sales process started to to, you know, get sort oftaken away from the salesperson. So so we had all f this great insight and andhome marketers were measuring. That was in the form of cliqkes and downloads,and you know, conversions form fills this kind of thing right. So that hasbeen the primary way that we've been measuring marketing success, ats. Youknow how many people h Click through on a thing, that's a form of success. Howmany people attended a Webonare? How many people downloaded the thing right,there's a lot of hope built into those metracs right, but we can't see withthose madrixes what happened after they clect. We don't actually know if themarketing was actually consumed if the buyer was actually educated, so that isreally how people are doing it today. That's how we've been doing it. Youknow for for quite a long time, H and so obviously the problem with thatbeing that that we don't know what's...

...happening, post click, we don't know ifthey're consuming that content. So why do you think we're stuck there in thatkind of predicament of of measuring the action that they took leading to whatwould you know what we would hope would be them consuming the content, but notactually being able to measure whether or not theyhave consumed it or not? Iactuall the couple things I mean. I think. First of all, we've been SOT ofpainted into this corner, because you know we all sort of put all our eggs inone basket, which was marketing automation. We all sort of randitoutside of the boat and said okay, marketing, AU imation's, going to bethe salvation and we're all Gong ta we're going to build our our. You knowour B to be marketing process around this and we're going to build these.You know landing pagees and forms, and this is how we're going to convert andwe're also going to assume the margeting success is based on theseconversion points right, and I think we got away from what our jobs asmarketers really is. We really need to get back to the fact that our job'sMarketr is is educating buyers, it's...

...actually educating them, so they becomeinfluenc, so theyve become educated, so they become qualified to enter into asales process and what we've started to do is sort of like gamified. The wholething it's like what what we're trying to do is get them to click, get them tospor. A lot of points get them to a point where we say: yeah, that's good.Okay, pass theme over to sales and really all you're doing is handing overa person who potentially clicked on a lot of things. Because again you don't,as a marketer have insight into did it was there any value to that Cli? Whatwas the quality of that click? Did they actually are they actually educated?They actually do anything that they consume anything or actually educated.So and now there's you know, a lot of people are talking about intent and youknow you can see what P, but intent is just another form of declicking. It'slike. Oh, we can see what that hey're clicking on information like this. Itstill is divorced from consumption of information, and so I think part of itis, you know, just lack of a better alternative, but also just you know,we've kind of gotten in the mindset...

...that instead of you know as marketers,our job is to educate buyers as marketers wee kind of have got entothis place where our job has become to to sort of tally points and we've got awe've, got aort of tip hi scaleback in the other direction. So what's what'sthe alternative then to this? What can we do to kind of get over this hemp tha,the corner that we've painted ourselves in? Well, I mean it's it's exactly thatright. I mean if, if we assume that as marketers our job is to to really sortof educate buyers and to separate those people who are truly doing researchright, they are showing an intensity around. You know the buying processthey are consuming like so I always use is analogy. So last last summer I hadto buy a new car 'cause, my husband Cheke, my car out, and, let's just sayit didn't, come home with him, and so I I needed a Gar and it was likeadmission crinicale. I have little kids like I had to have a car, and so Ididn't you know every Thursday at one...

PM, click on an email from a carddealership and like read a little bit of information. I sat down. You know.After put my kids to bed and I spent about two hours like reading everypiece of information. I could get my hands on about the cars that I wasthinkining of buying 'ecause I had to. I had to buy so people who are about tobuy something that is the behavior that theydemonstrate rig. You don't consume a ton of content because you're not goingto buy something right. So what we need to do is be able to both facilitatethat behavior to make it easy for buyers who want to consume out ofcontent. We need to get out of their way and and deliver content in a waythat makes it easy for them. We also need to be able to identify when that'shappening. That's the consumption behavior you're looking for, and so, ifwe can, you know, give impower marketers to identify those consumption,metrics separate those people, all those other people who are just licking.I mean the problem is in you're marketing, automation, platiform or,however you're you know whatever you're running ore marketing on today, ifyou've got two people who are clicking...

...on lots of stuff and one is spending aton of time pouring over this information and the other is you knowit's going to die on their on their desktopmuch, like my desktop litt, likeright, there's tons of great intentions to read that information, but it's notactually happening. Your sales team absolutely wants to talk to the personwho's spending, the time with the content. 'cause, that's a real buyer,and so that's the consumption behavior we need to zeroine on and we need to beable to action, and you know intelligent content, delivery m becauseof the way that we deliver the content, we're able to track the the number ofassets consumed in the time spent with that content and actually now appendthat information too. The stuff we've always tracked, the clicks and thefornfills and the downloads and all F that stuff. So you get a heightenedsense of, is there actual consumption happening behind the click, and so onceyou know that there's consumption behind the click at that point is whenyou hand it over to sales, not just...

...when you, when the form has been filledout or when the, when the click has happened, but you're actually waitinguntil after the content has been consumed before you pass. That over didmy understond that right, you are, and I mean what I would say is it's up toyou, how you want to handle that as a marketer. I mean we see, people who aresort of you know treading into this new world and with different levels of ofcaution, and some are completely you know it's it's become somewhat of areligious experience and they're saying you know what, if there's not a seriouslevel of consumption, we're not going to pass it over at all they're, seeingsuch unbelievable, you know increase in whether it's funnal conversion, youknow sales acceptance. All of the metrics are looking for that they'reunwilling now to pass. You know what, whatever you want to call it Lee LowerCS, lleeds that don't neet this level of sales readiness, Um some people are,are using it a yet another sort of...

...dimension to scoreleve a sort of fashtrack or action these buyers in a different way. You know we we call theminternally, we calld them, you know, are fast moving buyers, those peoplewho demonstrate this type of behavior. We want to treat him diferently, wewant T, we want to talk to them faster. We want to move them through, and oursales team does too, because guess what they move through e. The funnel two anda half I'm foster they command much higher ACVs, and it's not because we'redoing anything magical here all we're doing is we're identifying real buyers,we're secarating, the actual buyer. The person who has a need to buy a cartomorrow verses the guy who's like Oh, I love bm ws, maybe some day I'll getone I'll. Click on that ad right and we'rewe're. Just tollying up the points,and so it's just all. We're trying to do is both facilitate that naturalbehavior of a buyer who, who you know, has something they need to buy and andthen identify when that behavior is occurring, so that sales can takeaction on it and it's it makes perfect sense, and it's just an exevolution ofof where we need to go and be to be...

...marketing sohave. You found that there's a particular type ofcontent that that is getting consumed more more frequently than others. S isa video is, is it case studies is. There is their particular type ofcontent that you guys are seeing on the back and obviously having know lots ofclients and lots of different industries using your product. Is thereanything standing out to you as far as the content that actually gets consumed?I will say the thing that you expect that I will say it's. It's very uniqueto you know: Buying stagor stage with a Fonel type of buyer type of solution.There's a couple neat things you can do when you deliver your content, this wayUm for known buyer. So if I know exactly who I'm targeting with thiscontent, so at's someone in my database, I'm trying to move them from pointad topoint B, I can curate an experience. I can say I want you to to move youthrough. I want to take you from this high level. Video to this. You knowanalyst report to this customer story,...

...and I can I can you know, put these inthis sequence and try to move you through these pieces of content. Youcan also, if I don't know who you are an perhaps you came if you were out inthe wild you cliked on display odd. Where t came to my website and I had noidea, we cam power R content recommendations with an algorithm wherewe say for people like you and the relationship of these content assets.We know that you know this is the likely series of content that is goingto make you stick around. No, you know our hypothesis here is attention isreally hard to get when you get someone to click on your OJEC lick on youremail to convert on, you know, xwis offer we let them disengage so easilyfrom our content. Why don't we make it a little bit harder? Why don't wedeliver? I mean if you think about how digital Pu publishers keep you engagedright, NETFLEX ES PN! You Know Ou tube. You can go there and squander an hourbecause they're using all of this great data to say people like you when theyclick on this thing, they will tend to...

...stick around for three hours. If Iserve this, this ind this and we believe, B to be marketers, should dothe same thing with their content right. So we're powering a lot of differentways for marketers to be able to do that and when they do, they can keepbuyers much more engaged, and so it has less to do with the type Ovassa andmore to do with the circumstances under which they're serving it right. Youknow, is it an unknown user who shows up on my website and clicked on thisfirst and therefore I'm going to serve them? This is an death, and so usingall this great information that we have both about th the assets you're tryingto serve the type of people you serve them do in the past, the type of personyou're serving it to now we can, we can, you know, serve up a great series of ofcontent, Recommendi tion that is likely to keep a person engaged in clickingand reading an and self educating, Ta Mak, perfect sense ill. This is thishas been fantastic if there's somebody listening to this, and they want to digmore into this. That's more questions, what's the best way for for them to Istay connected with you and also learn...

...more about boitch cu. I mean it's t theold fashioned stuff right. You can visitcook HQ DOT COM ill. We have agreat set of resources. You can experience. LOBOOK HQ contentexperiences, a inaction on our website. You can always find me on twitter, LH,wolf and I'm readily accessible on Lincon. I'm always happy to connectwith Bello marketers out there on the speaking circuit. Quite a bit I'll betalking a the MARTEX show in Boston the summer in a content, morketing worldand always happy to connect with with fellow marketers. Well, thank you somuch true time, tove t pin fantastic and really pershit Ip ther. If you're a Bauty Marke, we want tofuture you on sites like the Hufkington Post, social, MEA, examine eart andchief marker. Every week we seen that a question related to be to be marketing.We use the responses to those questions to fuel the content. We write forreally popular websites so head over to...

...sweetfish, Med com, slash questions andsign up today. Thank you. So much for listening until NE'S DONE.

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