Archive for the ‘Guides’ Category

Vision

It’s worth spending time coming up with a compelling vision statement, because it’s something which will be repeated over and over again as it’s the key driver to drum up excitement, passion, investment, confidence and trust that the product end goal is rather spectacular, solving the big problems and then in turn delivering huge value for the business and customers.

First things first, craft your vision statement which should only be one clear sentence, where in a nutshell it should explain what you’re looking to deliver, to who and why giving off a wow factor:

Vision statement

Then create a product vision board specifying who the target market is for your product, problems the product solves, clarifying what the product is and how the product is going to benefit the business and customers:

Vision board

Lastly, having a vision diagram is a great way of providing stakeholders and the business with a snapshot using one image of where you’re at with the product and where you’re heading. Having colour coding for ‘live’, ‘in progress’, ‘planned’ and ‘to do’ would cover it – there are plenty of mind map tools to help you visualise your product, one of which is Lucidchart which comes as a plugin for Confluence also. It’s important to keep the product diagram focused on high level features rather than detailed technical solutions around systems as that would be more of a technical architectural diagram:

Vision diagram

Having a solid product vision isn’t just to help the business allocate resource, but it’s also essential for the developers to know exactly where they need to head and why.

The Product Group London

If you’re a Product Owner or Product Manager and would like to participate in a variety of interesting product focused discussions, then The Product Group London is for you.

It’s also an opportunity to meet, interact and network with those in a similar role who solve similar problems and have similar challenges.

At the monthly meetups there’s normally a topic of the night and a featured product which gets discussed. For example, the July 2018 agenda was:

  1. Topic of the Night: Developing the role of product management – how do you develop the role of product management in organisations that either (1) have no formal product function, (2) have a product function that is not realising its potential, or (3) have a well-established function and need to develop it to the next level?
  2. Featured Product: Clear Review – Stuart Hearn, Founder & CEO

You can also:

Conversion1

Neil’s Recruitment have recently posted a fantastic Paid Search resource guide for grads, 1st / 2nd jobbers and those who are keen to know more about the ins and outs of paid search advertising.

The Paid Search guide which can be accessed here includes:

  • The conversion funnel
  • What is paid search aka PPC & where does it fit in
  • Basics
  • Free training webinar
  • Blogs & trade press
  • Things to research / understand
  • Glossary

It’s good to see recruitment companies like this going the extra mile to educate those who are new to digital advertising, which also clearly shows they themselves have a deep understanding on the subject.

Resource guide
Neil’s Recruitment have come up with some handy tips for writing your cover letter, honing your CV and helping you stand out in an interview:

NRC_RTB_V1-2

Neil’s Recruitment have recently posted a fantastic RTB resource guide for grads, 1st / 2nd jobbers and those who are keen to know more about what RTB is along with all those other 3 letter acronyms.

The RTB guide which can be accessed here includes:

  • What is RTB
  • Free training webinar
  • Blogs and trade press
  • Things to research/understand
  • Excel tips
  • Maths practice
  • Glossary

It’s good to see recruitment companies like this going the extra mile to educate those who are new to digital advertising, which also clearly shows they themselves have a deep understanding on the subject.

20130716

With such huge global reach and engaging ad formats, Facebook has now become a very powerful CRM tool.

Similar to display CRM, this activity would usually fall under the programmatic buying team. When thinking about what strategies to setup, it’s always good to discuss them first with the central CRM team.

Facebook CRM should run across both Facebook Marketplace and FBX. You can still use a consistant strategy structure which would be in line with display – remarketing site visitors who didn’t get passed the first conversion step, remarketing those who drop off during the conversion process and remarketing those who have converted (current customers).

For FB Marketplace you will need to rely on the CRM team heavily to provide an up to date list of email addresses by segment / strategy as targeting is by email addess (custom audience targeting). This can then be used for including / excluding at time of strategy setup. As well as targeting by email you can also target your existing FB fan base within Marketplace. The good thing about CRM across FB Marketplace is that you can deliver ads across all formats including mobile install ads.

For FBX, this is all cookie based so you can mirror the display setup 1-1. You can only deliver basic ads across the news feed and ASUs for FBX.

When it comes to post click performance, all clients will notice a dramatic improvement vs. display CRM (+250% CTR and +350% click to pixel / conversion event) but for CRM campaigns it’s all about having up to date bespoke creative, a reasonable freq. cap and bid to match the segment. Also it’s essential to have exposure across as many channels as possible for CRM and all of this is a priority over performance.

image

Using a DSP on a self service basis lets you set your own rules and strategy structure therefore site remarketing strategies should be completely separate from prospecting. It’s essential to separate them as the KPIs and strategy between prospecting and CRM are so different (similar to brand and generic search) – it’s a classic way of how a lot of ad networks used to over represent the real prospecting display results by including remarketing strategies within prospecting campaign results.

From remarketing site visitors who have bounced, to remarketing high value customers, the set-up should be bespoke to the segment. The further you get in the user journey, the less cookies there will be allowing you to be able to afford to be more aggressive as there’s less risk of budget getting out of control, also the further your customers get in the journey, the more you want to keep them (as their value increases):

Let’s start with remarketing people who have visited but not registered their details – a tight frequency should be implemented and reasonably low CPM.

Dependent on your user journey you should then split out your remarketing strategies by segment (which should all be list in your cookie CRM database) eg. Age, gender, country, product, user level – as the segment becomes more valuable to your business, the frequency cap should be loosened and CPM increased.

As well as the media strategies, the likes of creative and ongoing promotions are crucial for success in this area – it’s not going to help serving your high value customers banners telling them to sign up again or promote an out of date offer. A reminder of what’s currently available, what’s just launched, cross sell, RAF, special offers and what’s coming soon are the basics.

Remember, the harder you work on CRM and generally looking after your customers to avoid them leaving, the more you can afford to pay for new customers which has a positive effect on the incremental volume you can drive (referring to the classic volume price curve).