Wednesday, February 29, 2012

Live Blogging Triangle AMA Digital Marketing Training Camp: Converting Existing Visitors To Customers

Gregory Ng
Speaker: Gregory Ng

Agenda

  1. Unicorns
  2. 3 First Steps to Start Testing
  3. 10 Things you can do this year

Bonus: Book Givaways

E-commerce websites report an average conversion rate of 2.2%. Anything you want your customer to do on your website is considered a conversion.

The issue is that nobody ever things about the other 97.8%.

Companies on average spend more money on traffice acquisition than optimization (88:1). This is the wrong ratio.

If we had a budget of 100,000 the majority of that would be used on advertising and the remaining percentage was used on thinking about the business. This is so wrong.

A Case for Optimization
As companies, we spend more money on getting more people into the funnel instead of taking care of those already in the funnel.

C = M+rV+rO/F+A=>1

Conversion, Motivation, Relevance of value Prop, Revl of Offer, Friction, and Anxiety

Relevance = The right message to the right customer at the right time.

3 First Steps

  1. Believe in Data (this includes everyone in the company...hunches never trumps real data)
  2. You must Learn (Have/build the culture and always learning about your customer)
  3. Stay on Target (Know the keys for success and stay on that path. Know the metrics.)
10 Ideas To Use in 2012
  1. Don't treat everyone like it's their first visit (what you look for the second visit isn't the same as if it were you're first time)
  2. Create ways for visitors to self-select (track usage and optimize)
  3. Use geo-targeting to deliver relevant messages
  4. Speak their language (use the data to determine what's going on)
  5. Use online behavior to trigger marketing messages (should be built into CRM strategy)
  6. Use the weather (use weather widgets to offer specific items)
  7. Use dayparting in your Paid Search (if not, you should be. Hire data analysts!)
  8. Don't assume what works for others works for you (start with assumptions, but use data to prove it)
  9. Consider the device...and your data 
  10. Use "relevant messaging" to meet goals
5 T's Of Testing
  1. Team (that's committed to testing)
  2. Trust (in the data and in the tests)
  3. Technology (have the right technology)
  4. Traffic (you have to have the volume to test)
  5. Time (give time to test)

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Damond L. Nollan, M.B.A.

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