Problem Set #2: Evive

Introduction

Evive is a fairly young and innovative company that was founded in 2015 by wellness couple Dominic Dubé and Claudia Poulin. Their cubed smoothie and soup trends have captivated many Canadians by offering a quick and easy way of making smoothies and soups to enhance a healthy lifestyle. Their mission towards empowering many to adopt a healthier and smart lifestyle has allowed the brand to get creative with their flavours through public engagement such as crowdsourcing, with their latest flavour being Ginger Zest. This problem set has allowed us to think creatively, yet abiding to the standard laws of increasing awareness, engagement and conversion. The statistics provided in our kpi scenarios are only hypothetical in order to show what it will take to reach our objectives.

Develop three SMART social/digital objectives for the provided scenario. Create an objective for each type discussed in class (awareness, engagement, conversion).

Awareness

Increase Evive’s email subscriber list by 10 percent, while providing coupons on soup cube products, especially the brand’s newest “Ginger Zest” flavour for a duration of 1 month.

Engagement

Increase our customer satisfaction rate by 15 percent, specifically for those who rate Evive’s live chat customer support as “good” or “excellent” on all our social media platforms. By having a full-time community manager answering questions and discussing the products online, we can attract more consumers within a period of 1- 2 months.

Conversion

Increase 7 percent of the average plan online ordering that include the “Ginger Zest” flavour.

Assign two Key Performance Indicators that will be used to measure success for each of your three objectives.

Awareness

1. Clickthrough Rate (CRT)

Effectively measure and track the clickthrough rate (crt) of the emails by the recipient. We aim to measure the rate clicked through the links provided for the soup-cubes as well as the subscribe button. This can be accomplished by measuring the total number of clicks or unique clicks on each email, dividing that number by the number of emails sent then multiplying that product by 100.

2. List Growth Rate

The list growth rate kpi will ensure that we are able to track the rate at which our email subscribers are growing at. This awareness kpi can be measured by gathering the number of new email subscribers and subtracting the number of unsubscribes and spam complaints, then dividing that figure by the total number of email subscribers on our list and lastly multiplying it by 100.

Engagement

1. Social Media Engagement - Tracking Comments

Our aim is to track all the engagement between the community manager and the customers on Evive’s various platforms. By tracking comments, we are able to stay relevant, engaging and informative. The satisfaction rate that we are trying to achieve can easily be tailored to our performance with answering questions, inquiries and even addressing complaints. This will eventually drive-up brand loyalty and trust amongst our customers.

2. Net Promoter Score - NPS

The net promoter score (NPS) will allow us to gather the positive or higher product reviews (whether comments or ratings) and individually ask them how likely it is that they would recommend the product or brand to someone else. This can be sent out via emails or simple text messages. This KPI might be a little more technical, but its efficient method of grouping customer satisfactions will be able to provide Evive with data that can be used to plan future promotions or marketing strategies.

Conversion

1. Purchase order cycle time

The purchase order cycle time is a productive kpi that covers the end-to-end ordering process from “the moment an order is created to the order approval and the receipt and invoice payment process” (Datapine, 2020). Tracking and optimizing this kpi will enable Evive to plan for the future. This kpi will provide key insights about which product is trending, how long it takes for the customers to decide, what elements change the customers’ decisions and so on. These key insights will help Evive gather valuable information on how to speed up their customers' purchase process.

2. Return on Investment

The return on investment (ROI) is a useful and vital kpi to evaluate the efficiency of a campaign. The return-on-investment kpi will help the company understand its profits as well as the impact of the campaign on its business. Moreover, it is also extremely important for the company to track and analyze different short and long-term projects. This kpi can be measured by dividing the profit earned on a campaign/investment by the cost of the campaign/investment.

KPIs should be detailed with rationale provided where required.

Awareness

Using a clickthrough and list growth rate kpi is productive enough to gather sufficient data needed to track the number of new email subscribers which can be used to measure the number of customers clicking on and using the coupon being offered to purchase the Ginger Zest soup cube. By using a list growth rate kpi, we are able to pay attention to our subscriber increase and decrease rate as “there’s a natural decay of your email marketing list, and it expires by about 22.5% every year” (Cox, 2020) therefore, making sure that we continuously send out new emails and attract new customers, will guarantee our healthy growth and expansion.

Scenario: In order to obtain our 15% growth rate for the list growth kpi, let’s assume that we gather 1600 new subscribers, subtract 100 unsubscribes or email complaints/spam to get 1500, divide that figure by 10,000 existing email addresses and finally multiply it by 100 to get a 15% subscriber growth rate.

Furthermore, adopting a clickthrough rate kpi to track our email subscriber list growth, is a great and simple way of individually calculating performance in present time and gradually over time. The use of CRT is also a great method of obtaining accurate A/B testing results. A/B testing is an efficient user experience research methodology that can allow us to compare two variants and thus eliminate what doesn't attract and what attracts new email subscribers and clicks for the coupons.

Scenario: If we were to gather 1000 coupon and new subscriber clicks by sending out 10,000 delivered emails, we are able to divide the two to get a figure of 0.1, which is then multiplied by 100 to get our goal of a 10% clickthrough rate.

https://www.youtube.com/watch?v=jXBPlaoCACM

Engagement

Tracking comments on the various social media platforms, will ensure consistency, engagement and brand loyalty. Comments can also be used to assess the number of customers who are satisfied or disappointed with the product they received. By allowing this kpi, it will enable the company to offer a different product, refund or exchange (when applicable) to the customer.

Comments are a notable kpi tool for social media managers as they allow for the brand to learn about new tastes and preferences, as well as current trends that could be made differently than other companies. The Ginger Zest soup flavour was crowd-sourced which is a direct proof that the public's opinions matter to the brand.

As mentioned above, the NPS is a more technical kpi that involves grouping public members together to receive a score that determines an individual's likeliness of recommending the product or brand to others. The difference between the NPS and the customer satisfaction score (CSAT) is that the NPS gathers data that is solely based on intention rather than emotion.

For a customer to recommend one of the products or the brand to someone else, ensure that they are doing so because it has benefited or changed them in some shape or form to adopt a healthier lifestyle, which is the mission and demographic that Evive focuses on. The NPS is measured on a Likert scale (1-10) by placing members into three categories, promoters (9-10), passives (7-8) and detractors (0-6).

To obtain Evive’s NPS score, we will need to gather the data from either text messages or emails and subtract the percentage of detractors from the promoters. The higher the score (above 30), the more valuable the company is for the customers, which means that there are more happy customers than unhappy ones. A score below 0, indicates that the brand has too many issues (whether that may be internal or external).

Conversion

The purchase order cycle time is a productive kpi to gather key insights needed to improve our conversion objectives, which is to increase 7 percent of the average plan online ordering that includes the “Ginger Zest” flavour. By using the purchase order cycle time kpi, we are able to track and analyze various customers’ behavior data, which is an important key insight in order to increase the online ordering plans that include the Ginger Zest flavour. Understanding the customers’ behavior means that Evive can provide customers better flavours and services that are more in line with what they are looking for.

For example, by using the purchase order cycle time kpi, Evive will acknowledge how long it takes for the customers to decide to try the new Ginger Zest flavour, what types of target audiences are interested in the Ginger Zest flavour, and whether the customers like the Ginger Zest flavour and would want to order more. We are also able to understand the customer’s needs and it can offer them different flavours they did not even know they wanted.

Another kpi to achieve the conversion objective is the return-on-investment kpi. Evive company can calculate the return-on-investment kpi to determine which campaigns are giving the company the greater return. For example, Evive promotes their new Ginger Zest soup in both their online store and in-store groceries across the country. After the promotion, Evive can calculate the return-on-investment kpi to evaluate which way of selling had a better and more profitable result and Evive can decide what to spend on in the future and how to allocate the budget across different social media channels.