A Practical Guide to Delivering on Trainer Metrics Matter
What is This Section About? This section of Trainer University defines the methodology for reliable delivery of results that match client expectations and Trainer agreements.
Why is This Section Important? Trainer is differentiated for its willingness to offer specific quantifiable metrics that provide a level of assurance to our clients. This section will enable the reader to develop a full understanding of how Trainer leverages this methodology to create and deliver accurate client agreements for every aspect of their PR and marketing programs. This ensures that each agreement meets (or exceeds) client expectations to their complete satisfaction.
By utilizing this methodology, Trainer has developed a significant and sustainable advantage over competitive agencies in its industry. Trainer’s Metrics Matter™ forecasting system for results coverage is the foundation of each client agreement. Forecasts are based on a thorough analysis of our client’s business objectives and available communications assets. Trainer’s forecasting system builds customer confidence by allowing our clients to track and apply coverage results against our agreement and monitor their investment. Why is Trainer unafraid of tracking coverage results with a live Metrics Matter scorecard? Simple: We believe transparency and accountability are the pillars of good business.
Trainer’s Approach to Forecasting a Soft Science: Luck and Guess Work; or, A Time-Tested and Proven System?
There are a number of factors that go into creating an achievable metric, including:
Why is This Section Important? Trainer is differentiated for its willingness to offer specific quantifiable metrics that provide a level of assurance to our clients. This section will enable the reader to develop a full understanding of how Trainer leverages this methodology to create and deliver accurate client agreements for every aspect of their PR and marketing programs. This ensures that each agreement meets (or exceeds) client expectations to their complete satisfaction.
By utilizing this methodology, Trainer has developed a significant and sustainable advantage over competitive agencies in its industry. Trainer’s Metrics Matter™ forecasting system for results coverage is the foundation of each client agreement. Forecasts are based on a thorough analysis of our client’s business objectives and available communications assets. Trainer’s forecasting system builds customer confidence by allowing our clients to track and apply coverage results against our agreement and monitor their investment. Why is Trainer unafraid of tracking coverage results with a live Metrics Matter scorecard? Simple: We believe transparency and accountability are the pillars of good business.
Trainer’s Approach to Forecasting a Soft Science: Luck and Guess Work; or, A Time-Tested and Proven System?
There are a number of factors that go into creating an achievable metric, including:
- Examining the anatomy of the asset
- Evaluating the successes and failures of the competition
- Considering industry dynamics and market events and forecasts
- Reviewing a product’s position in the “Hype Cycle”
- Evaluating your client as an expert resource, their location, and their availability
- Consider Trainer’s resource availability and proficiency in the space
- Determining publishing timing and status
- Factoring in relationships with critical third parties
- Allowing for positive and negative company history
- Considering audiences clients consider acceptable and useful
- Developing an assessment scorecard to develop the metrics
- Final Thoughts on Do’s and Don’ts
The Anatomy of Asset
- An asset is a tangible or intangible concept, to which a client can lay claim. The strength of an asset becomes a predominant factor in any successful promotion. An asset can be defined as any of the following: a new product, a customer, a partnership, a new patent, a new corporate headquarters, a new business model, a new position on an industry problem, a new executive, survey results, or even an event.
- Validating an asset with a third-party source is the most effective way to optimize results. Product assets may be characterized as an innovation for the industry: the fastest, the best, the highest quality, etc. Assets, such as a new executive, may be validated through prior accomplishments (e.g. an original Google engineer).
- Patents
- New Products
- Corporate Expansion
- New Executives
- Survey Results
- New Partners / Partner Ecosystem Definition
- New Customers / Customer Deployment / ROI
- Customer Vertical Domination
- Geography Domination
- New Applications
- New Architecture
- New Business Model
- Exemplary Customer Satisfaction
- Funding
- Leadership in Industry Standards Groups
- Philanthropic Initiatives
- Board Expansion
- Customer Advisory Board Formation / Expansion
- Acquisition
- Corporate Momentum, Revenue Growth
- Awards / Industry Recognition
Competitively Assessing your Asset
- To ensure accurate coverage forecasting (both quantitative and qualitative), competitive products and positions must be considered. It is critical that both the client and the agency research an asset thoroughly to eliminate potentially embarrassing claims that might jeopardize the forecast for that announcement.
- An accurate forecast must take into account previous competitor successes with similar announcements, and proactively identify any potential opportunities for a competitor to spoil an announcement by “stealing thunder.”
- Competitive concepts to consider before forecasting include:
- Are there any comparable industry solutions already available?
- What makes this new product/concept unique?
- What “in roads” has the competition already made to solve the issue the asset supports?
- What viable assets does the competition have that might reduce the significance of this asset?
- Which competitors are most likely to respond to this asset and what are they likely to say?
- Does this asset possess a sustainable advantage?
- What are the competitive claims?
- What coverage has the competition achieved with similar announcements?
Review of Industry Dynamics and Market Conditions
- Accurate forecasting is also dependent on industry interest in the asset (e.g. big data products are white hot right now). It is critical then that the client and agency share thoughts on why and how this asset might be considered “hot.”
- Bring team members together who have deep industry knowledge to assess the possibilities.
- Evaluate analyst reports to assess the viability of the product announcement.
- Conduct searches with tools, such as Google and Meltwater, and check in with key industry analysts to better determine interest in the asset.
- Consider bloggers’ attitudes and previous blogs about similar announcements.
- Industry dynamics to consider before forecasting include:
- Is there a possibility for adoption of this product solution within F1000 companies?
- Do industry analysts recognize this space as important?
- Is there a mass group of consumers / customers adopting the solution? If so, it may be old news.
- Are there economic factors that could negatively impact adoption of the new solution?
- Is the asset of interest to the client’s core audience?
- On a scale of 1 to 10, where would the asset stack up in terms of industry importance?
- Is this a new asset category, or has it been available for a long time – can this be perceived as old news?
- What are beta and end users (key customers) saying?
The Hype Cycle Consideration
Since 1995, Gartner has used hype cycles to characterize the over-enthusiasm, or "hype,” and subsequent disappointment that typically occurs with the introduction of new technologies. Hype cycles also demonstrate how - and when - technologies move beyond hype to offer practical benefits and become widely accepted.
- A strong hype cycle can make up for even a weak asset – catching the right wave is critical.
- Assess and verify how much market education will be required to ensure the minimum coverage needed (is it worth the uphill battle)?
- Forecast hot topics by factoring in statistics about topic coverage, which can be pulled leveraging industry tools. (Google & Meltwater)
- Ask the following questions about the asset’s hype cycle prior to forecasting:
- Have bloggers discovered this asset or a similar type of asset?
- In doing a quick Google or Meltwater search, are there substantial results associated with this topic?
- Are other admirable companies talking about this type of asset? Is this a crowd we want to be a part of?
- Has the topic passed its prime? Will this position the client as “edgy and fresh” or “boring and old school”?
- Has the topic become practical with real customers, enhancing coverage probability?
Client Asset Availability & Proficiency
- Understanding both the availability of the asset and the availability of a client spokesperson is a critical component to the forecasting process. Even the most solid assets cannot attain the forecasted coverage without the client’s participation.
- Another critical consideration: Does the client have a track record in delivering this type of asset? Is it believable and defensible?
- Ensure that a contractual clause, assuring resource availability as a condition to meet forecasts, is included in the client contract. This is a vital and necessary element in developing sound client agreements.
- To ensure accurate planning and forecasting, ask the following questions about the client’s resources:
- What date will the asset become available?
- Is it permissible to announce the asset on that date, beforehand, or a date after availability?
- What factors might delay the asset’s availability?
- How likely are these factors to occur?
- When will my client be able to provide me with more information on the influencing factors?
- Within the client’s organization, who is knowledgeable to discuss this asset?
- Do they have time to set aside to support the promotion of the asset?
- How much time can they devote to promoting it?
- What level of experience and proficiency does the spokesperson have?
- Prior to forecasting an asset, take time to review the client budget and the agency’s resources and experience in delivering results on this type of asset.
- All of these factors will influence your ability to deliver on agreements. Occasionally, client budgets are not adequate to “work” an asset and ensure optimal coverage.
- An honest assessment of your internal skills, gaps, and even resources, will save embarrassing conversations with the client later. Nothing leaves a worse taste than delivering on forecasts late or inadequately because staffing was not appropriate or sufficient.
- Ask the following questions about your resources to ensure accurate forecasting:
- Is this account adequately staffed to take on this asset?
- Do I have the right skill sets on-hand to deliver on this project?
- Do I know of suitable contracting resources to support this project?
- Does this project fall in the midst of holidays or vacation periods that will limit its success?
- Is the client willing to pay for the resources required to manage this project?
- Who will lead this promotion and have they successfully led similar projects?
- Is the agency staffed to handle unexpected opportunities, client demands or crisis if they overlap with the planned announcement?
Metrics Matter In a Nutshell…
- Review Previous Trainer Plans, Dashboards and Scorecards
- Research Client History and Current Scenario
- Define Hype Cycle and Interest to Industry Contacts
- Assess Status of Desired Targets
- Forecast to Match Client Budget and Relative Value