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Gretchen Goldsmith - How Rose Publishing's web traffic and online sales have grown during the worst recession since WW2
 

Gretchen Goldsmith - How Rose Publishing's web traffic and online sales have grown during the worst recession since WW2

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Online marketing is growing due to the high costs and declining effectiveness of traditional methods. There are many choices: emailing, banner ads, Twitter, Facebook, Google Adwords, SEO, and more. ...

Online marketing is growing due to the high costs and declining effectiveness of traditional methods. There are many choices: emailing, banner ads, Twitter, Facebook, Google Adwords, SEO, and more. Forget the wild-eyed blue-sky mentality toward internet advertising, this seminar is packed with tips and data based on a one-year case study of Rose Publishing's four-fold growth in unique visitors to their website from September 08 to August 09, as well as measurable increases in sales in multiple channels. It will give traditional print publishers a variety of ideas about new methods and will show ways to track ROI for online efforts. Marketing, technical, and financial people will benefit from this 30-minute session.

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    Gretchen Goldsmith - How Rose Publishing's web traffic and online sales have grown during the worst recession since WW2 Gretchen Goldsmith - How Rose Publishing's web traffic and online sales have grown during the worst recession since WW2 Presentation Transcript

    • Online Marketing Case Study: How Rose Publishing increased online sales by 50% during the worst recession since World War 2 Sept 08-Aug 09 Twitter hashtag: #ECPAELS Gretchen Goldsmith, CEO, Rose Publishing Inc.
    • Problem Independent brick and mortar bookstores are in decline. Retail in general is suffering. Goal To increase our direct business via the Internet.
    • First, the Offer Something irresistible and valuable… “Be generous online.” • Through the Bible in a year? • Verse a day? • Free Bible eChart each week?
    • The Offer • Through the Bible in a year? Done by many others • Verse a day? Done by many others • Free Bible eChart each week - Proprietary Rose Publishing content
    • Determine the best methods • Banners • Social media -Twitter, Facebook, Linkedin • Google AdWords • Search Engine Optimization (SEO) • Our own paper catalogs
    • Banners on the most compatible websites 279 names, $1800, <3 sales in 8 weeks
    • Social Media
    • Social Media Not highly effective for • Direct selling Good for • Google ranking (link authority) Top 2.6%=>1% • Getting to know industry leaders, authors; • Seminars (mind-reading industry influencers) • News (heard about airplane in Hudson River first)
    • Where did our ONLINE sales come from Sep 08 - Aug 09? Email marketing 40% Direct - people who enter our URL usually 29% through catalogs or word of mouth Search engines: Google/organic 12% (unpaid) Google AdWords 10% Search engines: All others/organic 5% (unpaid) Referrals from people via email 4% Banner ads <1% Social Media: Facebook, Twitter, <1% LinkedIn
    • 90% of our online business came from 3 sources 1. Email marketing to our own list 2. Our own snail mail catalog 3. Google paid/unpaid traffic
    • Email Marketing • To develop an email list fast that – Delights our customers – Connects with old & new customers – Generates direct sales – Helps provide feedback for customer service & product development
    • Email Marketing • A recommended book: Seth Godin’s Permission Marketing. • Long on principles, short on details.
    • What We Learned 1. You have to earn someone’s email address – The offer and design must be good. • Offer was good. Design needed pizzaz. • Result: 10% conversion
    • After: Offer was good. Design good. 20% conversion.
    • Increasing Sign-ups Reasons to give us information Establish credibility
    • What We Learned 2. People can be tricky - close the loopholes.
    • After: New Design - no access to free chart without double opt-in verification of email account. Subscription confirmation rate went from 50% to 70%.
    • What We Learned 3. Overwhelm them with value. • Not just one, but nine free e-Charts. Plus another one each week. • Counterintuitive: Giveaways help product sales in most cases.
    • What We Learned 4. Invite them to share with friends and they will. • Add urgency – limited time to share • Reassure privacy • Give ways to share 5. Test your customers’ tolerance. • Number of emails per week? • Best day of the week to send?
    • What We Learned 6. Add LOTS of self-advertising below the fold • Here’s an old email Conversion Rate = 0.22%
    • Here’s a new email that is 3 times longer • More products • Discounts • Related items Conversion Rate = 1.17% 5 times higher!
    • What We Learned 7. Provide a consistent look throughout sales process – show other products of interest.
    • What We Learned 8. A healthy email list requires work • Check deliverability (from 90% to 99% - solve problems with ISPs). • Segment subscribers (according to sources). • Track metrics (opens, clickthroughs, sales, date & time). Google Analytics is free. • Track value per name a year later. • Reengage inactive names by email AND snail mail. • Remove non-responsive email addresses. • Ask for a purchase in a low-key but clear way.
    • Results: Number of Online Visits and Orders Increased • Web visits tripled over 8 months • Our number of web orders in Jan-Apr 09 were nearly double the number in Jan-Apr 08 • The orders were smaller but our retail sales increased in 12 months by 20%. Online buyers buy less but more often. Lifetime value will probably be higher.
    • Results: Competitive Advantage Rose Publishing Publisher 1 Publisher 2 • Visits per month compared to two industry leading competitors as reported from compete.com
    • Gretchen Goldsmith CEO/President Rose Publishing, Inc. gretchen@rose-publishing.com Feedback, please! Five-question survey has link to handouts www.tinyurl.com/ecparose