Search This Blog

Showing posts with label sales. Show all posts
Showing posts with label sales. Show all posts

Tuesday, October 29, 2024

Planting seeds for seasonal marketing

How does your marketing grow? The core should always be made up of a plan for the long-term view with evergreen and perennial content. Annuals should only be added as needed to meet current trends.

Photo by Singkham: https://www.pexels.com/photo/clear-light-bulb-planter-on-gray-rock-1108572/

That sales and marketing should be aligned is indisputable. But that the sales department should dictate marketing is definitely disputable. 

My experience an SaaS startup for eCommerce businesses crystalized that recognition for me.  Initially, I worked on content planned with the CEO and produced some solid, evergreen pieces. However, when  a VP of marketing whose background was in sales and not in marketing came in, she pushed everything into a short term perspective.

This was manifested in constantly pushing content around coupons and discount codes to drive customers to purchase. Pushing promotions is the ultimate short-term marketing effort designed for immediate sales alone.

While discounts are definitely a big part of retail sales, they should not be the sole strategy used by sellers who want to cultivate long term relationships with customers. The goal of marketing is not just to convert customers based on sales for the week or occasion but to win loyal customers with a high customer lifetime value (CLV) who have your brand top-of-mind when they're ready to purchase even without a coupon as part of the deal. 



Perennial vs. annual planting 

Building a relationship with customers on the basis of marketing is like planting a garden. You can go for the quick wins of instant color and results for the season by planting annuals. That's the marketing done from the perspective of people who come from sales who always favor immediate results. 


But for real value, you plan perennials, which will deliver blooms of color year after year. That's what a true marketing perspective takes into account.

 
A perennial perspective doesn't mean ignoring seasonal opportunities. On the contrary, it sees the value of planning for repeated returns in all seasons with marketing messages and content that are relevant for that time of year and that occasion that will recur. 



Yearly holiday vs. pandemic holiday

Notice that I referred to an occasion that will recur as forming the core of your marketing. That doesn't mean that you ignore current trends altogether but that you recognize that they are transient. That means they they won't deliver the same bang for your marketing bucks as the perennial marketing you plan.

 Nothing illustrates that better than the mistake many businesses made in going all-in on pandemic messaging while ignoring their need for evergreen content. 


This is particularly striking in the content of the content marketing that the startup I worked for decided to feature for Halloween. There was no pre-existing content for that holiday's importance to the world of eCommerce on the site, so I created an evergreen holiday piece on different  possible approaches to fall and Halloween marking. 

Thinking only of the short-term, though, the VP demanded a different piece that explicitly centered around the pandemic's impact on Halloween. That's what was put on the site, and that bit of annual color is of  no interest to anyone today. 

For a business that already had created core content, including standard seasonal and holiday content, it would have been a strategic move to some pieces that centered around the impact of the pandemic on the industry and its customers in 2020-2021. In fact, it would have been smart to use some of that to link to their more traditional content to point out the need to adapt to the times with new strategies and approaches.

However, for businesses that were just building out their content, devoting all resources to pandemic-centered content with only masked people shown on their site was a mistake. If they failed to move that content off the main pages of their sites in the past year or two they were showing their own failure to adapt to the changing needs of the time. 
 



Friday, January 29, 2021

CRO is like basketball

free image from https://www.dreamstime.com/photos-images/basketball-hitting.html
Conversion rate optimization (CRO) is the term for what marketers do to determine which versions of landing pages or sites yield the best conversion rate. The conversion itself depends on the specific goals in place, the call to action (CTA).

The conversion for an e-commerce site is usually completing a purchase. But it can also be just getting that customer to take the first step on the purchase journey. In such cases, the goal may just be having the prospective customer indicate some level of interest and establishing some kind of connection.

That’s why you have to be clear on your metrics for CRO. It can count as a conversion to have the customer sign up for a subscription to a company newsletter, put in a request for a quote, or even just sharing an email address by signing up for an account.

The way CRO works is like finding the techniques a basketball player can use to get more of the balls he throws into the basket. He’s not taking more throws but throwing more effectively to achieve his goal and score points for the team.
 
That doesn’t assure that they will win every game, but it will tilt the odds in their favor.
 

How to calculate CRO

You calculate the conversion rate by dividing the number of conversions generated by the number of visits to that page, whether it’s a home page, landing page, or blog post. That means that if you have 10,000 visits, out o f which you have 150 conversions, you have a1.5% conversion rate. If your optimization results in getting 200 conversions out of the same number of visits, you’ve achieved a 2% conversion rate.

Given that it is a percentage, a high conversion rate is not a function of a larger number of visits but of more of those visits translating into conversions. That’s what it means to optimize the rate, getting more value out of your existing traffic. It’s not about generating new visitors but out of getting more of the ones you draw to convert.


Phases of conversion rate optimization


CRO involves testing various attributes, from colors to picture placement, to button shapes, to the steps involved in checkout. The first phase in the process of CRO is the research and hypothesis phase, in which the particular attributes that are correlated with better conversions are identified. They are then subject to A/B testing to discover if the site with them does indeed perform better with a lower bounce rate than the one without them.

Why conversion rate optimization is important


Before CRO was adopted as a data-driven practice, the only way to discover if something was promoting or hindering conversion was to set up your site that way and wait a while until you had results. You would then have to guess what needed tweaking, and through trial-and-error may have finally arrived at an optimized site. So while you may have arrived at the same point in the end, it would have only been achieved at the cost of lost conversions for all those months of trying to figure out what are the bottlenecks in your conversion funnel. Now A/B testing tools make it possible to discover the most effective way to set up your website by working through different versions to get data on what works more quickly.

Conversion rate optimization best practices


In general, conversion rates improve when visitors have to do less work to find what they want. That means that sites designed according to CRO best practices typically include a clean look like that allows them to easily navigate to where they want to go, obviously placed and colored specific call to action buttons, and no jumping through hoops for the contact information that provides leads and builds connection, whether that is a phone number, email, or live chat. All those contribute to expediting the customer's buying decision.
Benefits of CRO

Applying CRO makes your sites work better to achieve your goals, and that brings several benefits:

Better bang for your marketing bucks
When your landing page delivers more conversions, you get better returns from your ad spend. CRO helps drive site visitors toward what they seek to complete the purchase journey. Having that in places on your site delivers a better return on all of your marketing investments, and you will see revenue growth as a result of more conversions.

Improved understanding of your visitor customer experience

Conversion research reveals both quantitative and qualitative data about visitor responses. It reveals which parts are sticking points that can prevent them from proceeding through their customer journey, as well as what they do find appealing in your site. Working off that information, you can better plan your content and layout going forward based on deeper insight into your target audience.

Getting a leg up on your competition

Better conversion rates indicate increased visitor engagement that can boost your traffic as well as reduce bounce rates. Because Google takes bounce rates into account in ranking, getting visitors to stick around a while on your site can improve your search engine ranking to achieve a leg up on your competition. That, in turn, allows your site to draw more visitors that will convert at a higher rate.

Related posts:

Make your content as accessible as possible

7 ways to grab customer attention in subject lines

What Edison can teach us about SEO

Think marathon rather than sprint when planning content marketing




Friday, July 24, 2015

Good data should not come at the cost of Goodwill

 https://upload.wikimedia.org/wikipedia/commons/a/a9/2008-08-04_CVS_Pharmacy_in_Durham.jpg
CVS recently ran an experiment that's generating a lot of buzz online. Unfortunately, it's not the kind of customer reaction retailer likes to get.
The drugstore giant chose the week of July 12 to deviate from its usual offer of special coupons or promotions in printed circulars. They were betting that what they gained in data insight for the week would be worth the price of alienating some customers.
- See more at: http://www.baselinemag.com/blogs/dont-sacrifice-goodwill-for-good-data.html#sthash.V3PGO2I9.dpuf