So far, we have been focusing on loading performance and cost data into Roivenue. For a real data-driven business, this solves only one side of the problem. You know what has happened, but you still need to evaluate it. This evaluation is handled by the Marketing Plans feature, which enables you to track your plans in the system.
In general, you can imagine Roivenue Marketing Plans as a counter-value to the data loaded from the marketing platforms; it is what campaign data is compared against. One of the usual workflows of planning is to define a high-level goal, e.g. increase revenue by 10% in this year for the business unit as a whole. This high-level plan is then dispersed across used platforms and campaigns within these platforms.
There are two levels of marketing plans – marketing plan group and marketing plans. Marketing plan groups are defined for a specific time period and there cannot be an overlay between time periods of these marketing plan groups. A marketing plan can be defined within a defined marketing plan group. Definition of a marketing plan is described below.
A marketing plan can be defined against all of the metrics and performances available in the Performance Monitor.
The steps to take when setting up a marketing plan are as follows:
1. Select a metric or indicator
2. Select scope of the plan – will it be set on the whole business unit, a specific platform or a channel?
3. If you had selected the platform or channel scope, define which platform or channel the plan should relate to
4. Targets & Margins - definition of the plan’s logic, three options are available:
1. Higher is better - the more we have the better - e.g. Revenue
2. Closer is better - we want to reach a specific value - e.g. marketing investment ratio
3. Lower is better - the less the better - e.g. CPC
5. On the right side of the screen, you can define time granularity on which the plan will be defined. All values are held on daily level in the system and can also be exported on this time granularity.
6. Define the target values on the timeline below
A quick way to see how you compare to the plan is in the "Marketing Plans Overview" section, which provides weekly results for each plan in small boxes next to the plan. Same as Evaluate, these boxes assign colours to weekly results – green is good, yellow is borderline and red means that the plan has not been fulfilled. These levels are related to the definitions in the plan setup section.
To sum this section up, setting up plans in Roivenue is comprised of these steps:
1. Define a marketing plan group and within it a marketing plan
2. Define to which subset of data this plan should relate – scope, metric and time period
3. Define values of the plan as well as borders for its evaluation
4. Evaluate this plan either in Roivenue or externally
To comply with this standard, the Roivenue planning section is designed to enable you to define plans on three levels – Global, Platform, and Channel. The Global level plan relates to the whole business unit, the Platform level plan relates to data from one platform, and the Channel level plan relates to data from one marketing channel, which has been created earlier.
You can define a plan based on a selected metric or performance along these three levels. If we want our business to increase revenue by 10%, it is a good idea to divide this goal into parts. If we want more revenue, we will need to bring in more visits. Therefore, we set up a plan for "visits" for each channel, and if this plan is fulfilled throughout the year, we are on the way to achieving our main, high-level goal. But to do that, we need to hit other targets, such as conversion ratio or conversion value. All of these can be defined and evaluated in the "Marketing Plans" section.
To get started with this feature, access "Marketing Plans" from the menu on the left in the Performance section.
7. After defining the target value, you can also define level of acceptance. Visually, this level of acceptance defines a border between yellow and red zones (green zone is good, yellow is medium, red is bad). Select how margins should be defined from one of three options available:
The plan has now been created and loaded into the system. There are two ways in which you can interact with the defined plans - you can either export them to the "Exports" section and evaluate them externally, or you can take advantage of Roivenue's built-in Evaluation function.
This function can already be accessed in the plan creation phase, giving you the option to save and evaluate, which saves the defined plan and transfers you to its evaluation. On the evaluate screen, you see the defined plan and its borders plotted against data related to the specified platform or channel on a weekly basis.
Check out the training video here: