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    Business Caffeine Monday (Part 2)- The Power of Being Discovered Online

    Last updated 3 years ago

    Last week in Part 1, I discussed the positive impact that improving your sales closing ratio can have on your business. This week, I am going to shed light at the top end of the buying funnel and highlight a skincare product business that I started working with about three months ago.

    When we engaged, this client was just rolling out a very modern, appealing and conversion-friendly website and needed help getting more qualified visitors to it who would have the propensity to buy their products.

    Being in the skincare product category, they certainly had a lot of competition. The good news is they had good brand mind share, but still needed to get in front of consumers who are showing buying intent but had never heard of their name.

    The client’s product had an average price point of around $450 and they wanted to increase their direct sales, both on their website and over the phone. Previously, they had worked on distribution via department stores and digital outlets, and sales were slowing.

    Setting goals and creating the right strategy

    Goal #1 was to drive relevant but affordable traffic to their site quickly. They had employed their own AdWords several years ago but didn’t get the return they had hoped for. This time around we focused on exposure beyond Google, to also include Yahoo and Bing and even extended networks like YouTube search ads, About.com, ASK, iVillage (NBCUniversal) and other sites that made sense for their target customer.

    Goal #2 was to target not only their name (yes, we had to bid on their name for protection, since other companies bid on their name which is so closely tied to their product names) and build out an extensive keyword list for the broad searches happening all the time in which they were not showing up for.

    Goal #3 was to target markets strategically across the country that both made sense and in which their initial budget could help them be extremely competitive. Luckily, the client was a regular Google Analytics user and this was helpful data to see which parts of the country their current customers where coming from.

    Goal #4 was to set up a sophisticated system that allowed us to collect data quickly and then leverage that data to pinpoint the keywords that were leading to sales (both online and over the phone) and then weed out the keywords that wasted their budget on clicks and no conversions over time.

    Goal #5 was to monitor the phone calls internally for quality assurance and label each call from the campaign appropriately- sale, lead, inquiry or other. This helped shed light on their sales force’s phone skills, stay on top of warm leads and quantify how many orders were coming in over the phone.

    Small changes can make a big impact

    We helped the client increase monthly online revenue by over 384% in less than three months. We employed our ReachSearch solution and married that with ReachRetargeting (to boost Search conversions and stay in front of missed opportunities).

    Here is a snapshot of their Google Analytics when we started (Aug 1 – 30, 2013) in orange and last month (Oct 1 – 31, 2013) in blue. Their overall new visitors increased 19.35% and pages per visit increased 9.96%, but the biggest factor that everybody cares about was increasing sales significantly by 384.86% (and that doesn’t include the phone orders)! The client has increased budget month-over-month and we plan to roll out new markets in upcoming months.

    The bottom line

    If you have invested the time, effort and money in developing a good website (and if you haven’t, you should- 85% of consumers abandon a website because of poor design, Online Marketing Institute), focus on the top of the funnel and add warm prospects. The key takeaways to rolling out a good Discover strategy are:

    >>Define your goals first

    >>Leverage data from your industry so you know what to bid and which search queries lead to conversions

    >>Go beyond Google (Yahoo/Bing make up 35% of Search Engine market share, comScore 2013) to help keep cost per click low and increase visibility

    >>Monitor what happens after they visit your site from the campaign (do they call, email, chat or fill out a contact form?) and map the conversions back to the keywords that led to them. Then over time, stop bidding on the keywords that lead to just a visit and no conversion, because they’ll eat up your budget

    >>Be sure to have a system in place that monitors and improves the phone calls that derive from the campaign

     

    Try the Marketing Math calculator for yourself and see what an incremental increase in qualified visitors could have on your bottom line. Here is the link: http://www.dontleakleads.com/Marketing-Math/ to plug in your numbers. Be sure to join the movement #DontLeakLeads!

     

    Download the eBook, “Don’t Leak Leads.” Get it HERE

    Grumpy Cat doesn't call back leads. But you should. #dontleakleads

    Last updated 3 years ago

    See more at http://www.dontleakleads.com/fun-with-funnels

    Brandon Fluharty has been a great addition to our company's technolgy fforts.

    Last updated 3 years ago

    Would you do business with a company that doesn't have a website? #dontleakleads

    Last updated 3 years ago

    Check out this video to see what real consumers have to say...

    “Throwing Away Time and Money?” Yeah… I Can Afford That.”

    ...Said No Business Owner, Ever

    Time and money. No business owner or manager would be OK with wasting either. But we’ve seen it happen time and time again. Businesses don’t show up in search results, go silent on social media sites, leave phone numbers off websites (or don’t have a website at all), don’t answer phone calls, and inexplicably don’t follow up with hot leads. These all create giant leaks in their sales funnel.

    However, even minor fixes and changes can make a significant impact on the bottom line. Want to see just how much small improvements can improve yours? Try out the Marketing Math Calculator today to see the difference fixing leaks in your sales funnel can make.

    >>DO THE MATH

    Business Caffeine Monday (Part 1)- Improving Your Closing Ratio

    Last updated 3 years ago

    A Common Problem to Fix (Closing Ratio)

    Here is some insight on a local university who was focused on promoting a business program geared for working professionals that my company has been engaged with recently.

    Below is a snapshot of actual numbers for that local university regarding their buying funnel (a typical journey a professional takes of going from an online consumer to an actual student) before we implemented changes.

    Small changes can make a big impact

    For this particular university, the problem wasn't being discovered and getting visits to their site (they were marketing themselves well online already), it was actually a breakdown at the conversion stage (# of applications to # of students closed) because of poor lead management.

    There was a disconnect between when an application form was submitted and the follow-up time from the academic advisors. Too many application forms were falling through the cracks.

    The fix

    We helped the university identify two types of leads- active leads (those ready to enroll in next 30 days) and long-term leads (those who have no definitive start date). Automated emails were set up for each type, with a different message and call-to-action. The active leads had a strong call-to-action to help close more students in a shorter time frame. The long-term leads receive compelling content emails dripped over time to help keep the program top-of-mind and relevant.

    In addition to the automated emails, academic advisors got in a good habit of prioritizing all inbound leads/applications for the day and set up alerts to contact the appropriate leads at the appropriate times.

    Closing ratio has increased 34% in the first 30 days.

    Instead of throwing more money at the top of the funnel, ReachLocal helped them make a very affordable fix (a few hundred dollars a month) using our ReachEdge system that is helping them significantly increase their closing ratio.

    Try the Marketing Math calculator for yourself which shows you how a simple increase in closing ratio could make a big impact for you.

    Here is the link: http://www.dontleakleads.com/Marketing-Math/ to plug in your numbers. Be sure to join the movement #DontLeakLeads!

    How long is too long to wait to hear back from a business?

     




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