Online Marketing For Profit
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Online Marketing For Profit

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A presentation for the Best of Richmond Knowledge session on 14th May 2010. ...

A presentation for the Best of Richmond Knowledge session on 14th May 2010.

Hannah Smith offers business owners some insight into various Online Marketing methodologies including SEO, PPC, and Social Media.

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  • A warning!Whilst I promise to try to avoid the use of geek speak I may slip up. If I do use a term that you don’t understand call me on it! Likewise if you have a question, or if you don’t understand anything please say so – chances are I’ll have lost several others in the room too.
  • Copy means words!‘Management speak’ – if you offer cleaning services, say so – don’t call them domestic cleansing operatives… Use the terms and phrases that your customers would probably use.
  • Quotesearcher (a client) are a financial services aggregator site – a bit like Moneysupermarket, Compare the Market etcKey features:Image of a carBenefits concisely expresssed via headline & bullet points (bullet points are your friend)
  • Trust indicators enstill confidenceOther examples include telephone numbers, bricks & mortar addresses (rather than PO Boxes) etc.
  • Mortgage Plus (a client) are a mortgage broker in Ireland. As you can imagine you need to give over a reasonable amount of personal information in order to get a mortgage – therefore making the website look trustworthy is really important.Key features:Lo-call numberCase study / testimonialRegulation detailsBricks and mortar addressPartner logosBullets
  • Make it as easy as possible for visitors to move around your site.
  • Play (sadly not a client… but one day, eh?)Make use of sensibly titled menu options and a prominent search box to make it easy for visitors to find what they’re looking for.
  • What’s a conversion?It’s whatever you want people to do on your site e.g.:CallGet a quoteBuySign up for a newsletterSo here’s the ‘rules’!Let people have a choice about how they convert – typically the more options you can offer the better. This also includes payment options if you’re running an eccomerce site.Make sure there’s an easy route to convert from every page of your site. That doesn’t mean you have to have a form on every page of your site, but a prominent button or link to drop the visitor straight into the conversion process is a great idea.
  • Liberate (a client) offer an outsourced call handling service. Essentially they will act as a receptionist for your business.Key features:Phone numberEmailRequest a call back formTestimonialBullet points
  • When it comes to online forms the rule of thumb is, the shorter, the better. Therefore have a think about what you need to know, versus what you want to know.If you do need to collect a lot of data then make the form as easy as possible to complete, offer help, explanations etc.
  • Lifesure (a client) – this is there caravan insurance quote formObviously they do need to ask a fair amount of questions in order to provide a quote, so you can see that we’ve tried to make it clear where the customer is within the process.We’ve also made use of mouse overs to offer tips / important information for those completing the form.You’ll also see an insurance award which they received (trust indicators)
  • PPC is also referred to as paid search, paid listings etc.
  • You decide which words or phrases you want your ad to appear for. You set a daily budget, and decide how much you want to pay per click on your chosen words / phrases. You are charged for each click on your ad. Once your budget is spent your ads stop appearing.Unlike traditional print advertising you are not charged for your ad simply to appear.
  • Now I promised you an ROI focus, so here we go!This is a pretty common place for people to fall down – because they haven’t done their maths first.PPC is easy to calculate ROI for, as you are in control over how much you pay per click. So here’s what you need to do.We’ve talked about conversions before – a conversion might be a purchase, an enquiry, a phone call etc, etc.
  • Sensible assumptions- You might be surprised at how low conversion rates can be online. On eccomerce sites conversion rates are often only around 2-4%. On insurance sites, rates to get a quote tend to be higher 25-50%, but obviously far fewer will actually buy. On B2B sites enquiry rates range from 2-4%.
  • Quick recap!
  • Ok, so on to SEO.Now SEO describes a process rather than an advertising medium.SEO affects the natural search results in the centre of the page.
  • So when considering undertaking SEO, the first question to consider is which terms to target.
  • There are lots of keyword tools out there, but this is my personal favourite!
  • So you enter your word / phraseBe sure to select UK & EnglishI normally check ideas containing my search terms as it tends to return a narrower set of terms
  • Select exact match!Make sure you look at local monthly searches rather than global!
  • Let’s imagine that we’re working for an insurance broker who specialise in Landlord Insurance… Here’s the resultsSo let’s take a look at how the results look for that term.
  • SERPs = search engine results pages.So Moneysupermarket are first, but beneath them you can see various Landlord Insurance brokersYou can also see we’re competing against 1.1m pages – not too bad
  • So, back to the ROI focus.Is it worth us going after that term?
  • First look at what a no.1 position might bring you… Now these figures might seem a little scary, right now but stay with me.So Landlord Insurance gets 14,800 searches per month 40% of which is 5,920.
  • Now, as I mentioned before – with SEO activity takes time, so I’d typically look to calculate potential ROI over a year.I’ve used the following assumptions - £3000 per month in fees; 6 months to hit the 1st page, and a further 6 to hit No.1.Little or no income will be generated in months 1 to 6.Months 7-9 – assumed 7.5% of the search volume 14,800 x 3 x 7.5% = 3330. 3330 x 40% x 25% x £50 = £16,650Months 10 & 11 – assumed 15% of the search volume = 4440. 4440 x 40% x 25% x £50 = £22,200Month 12 – assumed 40% of the search volume = £29,600Obviously from month 13 onwards, the activity begins to show excellent ROI – almost £9 back for every £1 spent.
  • Quick recap…
  • SEO isn’t always the answer!So we’re stood in an Italian restaurant, so I thought I’d take a look at the likely ROI for SEO activity for this venue.So I’ve had a look at the search volume for a few terms:Restaurant – what might the problem be with this search term? Too general in terms of type of restaurant, and not location specificItalian Restaurants – No locationItalian Restaurants London – better, but probably not location specific enoughRichmond Restaurants – not type specific, but great from a location viewpointItalian Restautants Richmond – very specific – but no volume!
  • Oh dear.So we’ve got a local box – this is going to be very hard to overturn…Beneath that we’ve got review sites…
  • So it’s really crowded and very competitive.
  • Here’s how SEO & PPC stack up.Location targeting – with SEO you’ll need to include a geographic qualifier in your keyword – e.g. Richmond Restaurants. With PPC you can elect to just show ads in your targeted area. This means you can bid on more generic ‘restaurant’ searches and take advantage of the higher search volume.
  • Don’t think of it as an either or scenario – it isn’t necessarily.
  • A final note!
  • Peter Drucker was a writer, professor and management consultant. He worked with General Motors, General Electric, Coca Cola, IBM & Intel.
  • Shiv Singh authored social influence marketing for dummies.
  • When I talk about social media, the reaction is often – oh you mean twitter and facebook… and I do… kind of. But at it’s very core social media is about engagement, not selling.
  • So, let’s talk strategy.What do you want to get out of your activity?Once you’ve figured out what you want to do; try and set some measurable objectives. Then create a strategy to fulfil them.
  • Your customers might not want to talk to you via Facebook.
  • You wouldn’t gatecrash a party where you didn’t know anyone and go straight up to people and ask them to buy your product or service. So don’t do it online either.
  • Try to make it easy for people who do like what you do to spread your message.
  • Calculating ROI via social media is going to be tough. But not impossible.Think offer redemptions, recommend a friend, newsletter sign ups, followers, fans, blog comments etc.
  • Innocent do very well – 18,777 fans. Plus people look to be very engaged – people write on the wall, and innocent answer them.Innocent use the page for product launches, to promote their blog, competitions etc, etc.
  • Here they are on twitter too…And communicating… not just promoting.If I had a criticism I’d suggest they probably ought to follow more people back…
  • And here’s an example of a small business kicking ass.Psycho donut are a single donut shop in California. Not a chain.2,587 fans.People interacting on the wall.Fab competitions & offers – sing the Pink Floyd verse ‘Mother do you think they’ll drop the bomb” and get a bumper sticker. Fab.
  • And here they are on twitter… 858 followers.Promoting events, competitions etc.Talking to their followers, FAB.
  • Hmmm now Rentokil have undoubtedly made some mistakes in the social arena… (Google it, you’ll see) but I think their blog is nonetheless a great example of how to make a niche subject more mainstream.
  • So you do lots of different marketing activity, but how does it all fit together?
  • Your customers (and potential customers) are the same people offline as online. People may experience your brand offline, and search for you online.
  • Collateral = business cards, brochures, leaflets, direct mail, press adverts etc.Think about how you can make what you do offline, work online. So, if you’re speaking at an event you might blog about it, tweet about it, email people about it etc.

Online Marketing For Profit Online Marketing For Profit Presentation Transcript

  • Online Marketing for Profit
  • Speaker Intro
    Hannah Smith
    11 years in marketing
    5 years in retail – POS, sales promotion, staff incentives
    3 years in direct response – national press, magazines, direct mail, sponsorship
    3 years in online – SEO, PPC, social media, conversion rate optimisation, email
  • What I’ll be Covering…
    Web Design
    SEO v PPC
    Social Media
    Integrating the marketing mix
  • Web Design
  • ‘Good’ Web Design
    Before sending traffic to a website it’s important to consider how well the site will convert visitors into customers
    When it comes to design everyone has an opinion(!) to avoid scuffles around ‘good’ and ‘bad’ design today we’ll be focussing on:
    Clarity of message
    Trust indicators
    Navigation
    Optimising for conversion
  • Clarity of Message
    This encompasses both the copy on your website, and the way in which it is presented
    Don’t succumb to ‘management-speak’
    Communicate features & benefits clearly & concisely
  • Trust Indicators
    Customer testimonials
    Awards
    Reviews
    Professional affiliations
  • Navigation/Menus
    Keep it simple!
    Name navigation/menu options sensibly
    Offer a search box
  • Optimising for Conversion
    Offer multiple routes to conversion
    Email
    Online form
    Telephone
    Make sure there is an easy route to convert on every page of your site
  • Online Forms
    The fewer the fields required the higher the conversion rate
    Make the form easy to complete
    Offer help / explanations etc
  • Any Questions?
  • SEO v PPC
  • What is PPC?
    PPC stands for pay per click. It’s advertising. It refers to the sponsored results which appear on the results pages of search engines:
    PPC Advertising
  • How does PPC work?
    All paid search ads are charged on a pay per click (PPC) basis
    As the name suggests, with PPC you are only charged when someone clicks on your ad
    This means that unlike in traditional print advertising, or online display advertising you are not paying for your ad simply to appear
  • How do you calculate ROI for PPC?
    Decide what a ‘conversion’ is
    Decide what a ‘conversion’ is worth to you
    For this you’ll either need some data; or you’ll need to make some reasonable assumptions e.g.
    Average order value or contract value or lifetime value
    % of that sum which is profit
    £100 (av. order) @ 20% profit = £20 per conversion
  • Calculating PPC ROI Cont.
    Once you know what a conversion is worth, you then need to decide how much you’re willing to pay
    E.G. if every conversion is worth £20, you’d probably be happy to pay around £5
    On this basis, for every £1 you spend, you’ll be getting £4 back
  • Calculating PPC ROI Cont.
    Now you know how much you can afford to pay per conversion, you’ll need to figure out how much to pay per click
    Again, you’ll need data, or you’ll need to make some assumptions
    e.g. 2% of visitors convert
    £5 x 2% = 10p
    So you can afford to pay 10p per click
  • PPC ROI Cheat Sheet
    1) Calculate how much a conversion is worth to you
    Average order value or contract value or lifetime value
    % of that sum which is profit
    £100 (av. order) @ 20% profit = £20 per conversion
    2) Decide how much you’re willing to pay per conversion
    EG if a conversion is worth £20, you might be happy to pay £5 for it
    3) From this calculate how much you can spend per click
    Price per conversion x Conversion rate
    £5 x 2% = 10p
  • Any Questions?
  • What is SEO?
    Stands for search engine optimisation – affects the natural search results
    Natural Search Results
  • How Does SEO Work?
    SEO is the process of optimising a site so that it appears for relevant search queries in the search engine results pages (SERPs)
    3 Key Areas
    Technical (or Code): ensuring your site can be properly indexed by search engines
    On-Page (or Content): site content
    Links: links to your website (this is the differentiating factor – links = ‘votes’)
    You are not charged when a user clicks on a natural search result – so you’re paying for the optimisation process, not the clicks
  • Which Search Terms Should you Target?
    Which terms do people use to find your products & services?
    ‘Broad’ terms deliver traffic volume
    ‘Tightly targeted’ terms are more likely to deliver qualified leads & sales
  • Broad or ‘Head’ Terms
    High volume
    Competitive
    Generic
    Possibly less ‘targeted’ – may not completely describe your business offering
    Examples
    Insurance
    Restaurants
    Books
  • Tightly Targeted Terms
    Lower volume
    Normally less competitive
    Specific
    Examples
    Renault Clio Insurance
    Italian Restaurants in Richmond
    Buy Roald Dahl childrens books
  • Keyword Research
    How do you find out the search volume of various terms?
    You’ll need to do some keyword research: https://adwords.google.co.uk/select/KeywordTool
  • Keyword Research
  • Keyword Research
    To get accurate search volume data make sure you select ‘exact’ match
  • Keyword Research
    Keyword Monthly Search Volume
    Landlord Insurance 14,800
    Cheap Landlord Insurance 1,600
    Landlord Insurance UK 1,000
    Landlord Insurance Quote 880
    Clearly here Landlord Insurance is the ‘money’ term; however you’ll see that there is
    still some volume for the other terms.
  • What Do the SERPs Look Like?
  • ROI for SEO
    Calculating ROI for SEO is harder than for PPC…
    It will probably be 3-6 months before you see results
    It’s about assessing the scale of the opportunity
    Less competitive keywords are easier to rank for, but will deliver less leads
    Highly competitive keywords require a lot of investment (time & money) to rank for, but will deliver far more leads
    As with our PPC example, you’ll also need to decide what a conversion is worth to you & make some assumptions about the percentage of visitors which will convert
  • What is No. 1 Likely to Bring You?
    Ordinarily you could reasonably expect to receive 30-40% of the clicks
    So a no. 1 ranking for Landlord Insurance is likely to bring around 5,920 visits per month
    Assume 40% will get a quote = 2368 leads
    Assume 25% will buy = 592 sales
    Assume £50 profit from each sale = £29,600
  • ROI Calculation – Year One
    Estimated Income
    Months 1-6 £0
    Months 7-9 £16,650
    Months 10 & 11 £22,200
    Month 12 £29,600
    Total £68,450
    Less SEO fees (£36,000)
    Total £32,450
    Assumptions: An SEO agency would charge £3000 per month to
    optimise for the term & it would take around 6 months to hit the first
    page; and a further 6 to hit number 1.
  • SEO ROI Cheat Sheet
    Check monthly search volume for the term(s) targeted
    Search Volume x Click Share = Visitors
    (No. 1 = 30-40%, but lower positions will garner a lower click share)
    Visitors x Conversion Rate x Conversion Value = Income
    Income – SEO Spend = Profit
    Remember rankings will take time to improve, it may
    be best to forecast over 12 months.
  • An Analogy…
    “PPC is like renting, SEO is like taking the plunge and
    buying a property…”
    … and similarly there are pros and cons to both
    approaches!
  • SEO Will Not Always Stack Up…
    Keyword Monthly Search Volume
    Restaurants 1,000,000
    Italian Restaurants 40,500
    Italian Restaurants in London 1,000
    Richmond Restaurants 1,300
    Italian Restaurants Richmond <10
    For a restaurant like this one I’d suggest a keyword like Richmond
    Restaurants might be a reasonable target, as it offers a balance
    of volume versus the potential to deliver bookings.
  • So What Do the SERPs Look Like?
  • Ouch!
    It’s crowded no?
    You’ll be competing against the local box, review/directory sites, etc
    It may be worth looking to optimise your local listing so that you’re included in the local box
  • What is No. 1 Likely to Bring You?
    Ordinarily you could reasonably expect to receive 30-40% of the clicks
    But given the nature of the SERPs and the somewhat generic nature of the search term you’re targeting (i.e. you don’t know if people are actually seeking an Italian restaurant) you could reasonably expect far less…
    In this instance I’d suggest another route to market, perhaps PPC…
  • Any Questions?
  • SEO v PPC
  • SEO v PPC
    Which approach is right for my business?
    Depends on a number of factors:
    Whether you are location dependent
    PPC is easy to location target
    With SEO you’ll need location targeted keywords (lower volume)
    How competitive your search terms are
    Some terms may be too competitive to rank for
    Your budget
    How quickly do you need to generate a return?
    A combination of the two may work best for you!
  • Don’t Forget Tracking!
    Whether you elect to go with PPC, SEO or a combination; make sure you are tracking whatever you’re doing:
    Web analytics solutions / conversion tracking
    Use separate phone numbers
    Have procedures in place internally: ‘Can I ask where you heard about us?’
    Monitor your activity – whether you’ve based your ROI on historic data or assumptions – you may have reforecast and amend your strategy accordingly.
  • Any Questions?
  • Social Media… Beyond the Buzz
  • “The purpose of a business is to create and keep a customer”
    Peter Drucker
  • “The purpose of a business is to create and keep a customer who creates customers”
    Shiv Singh
  • Social Media
    Social Media is about
    Conversation and interaction between individuals
    Share & share alike
    Social Media is not
    Broadcast advertising
  • A Facebook Page is not a Social Media Strategy…
    And neither is a Twitter Profile ;)
  • Strategy
    Take a step back & think about what it is you want to achieve:
    A better understanding of who your customers are?
    A chance to monitor the conversation?
    A new way for people to contact you?
    To find people to review / trial your product or service?
    A way to communicate with existing customers?
    A way to find new customers?
    To drive traffic to your website / company blog?
    Create a strategy to fulfil those objectives
  • Go Where Your Customers Are
    Blogs
    Forums / niche communities / Q & A sites
    Review sites
    Social networks – Facebook / Twitter / LinkedIn / niche networks appropriate to your field
  • Be Appropriate
    If you’re a chiropodist you may not have all that many ‘fans’ on Facebook
  • Understand the Community
    There’s etiquette online too
    Observe the community first
    Offer value to encourage others to promote for you
    Money off
    Exclusive offers / events
    Competitions
    Make sure you’re giving back to the community
    Interact, engage & be human
  • Why Should People Promote You?
    Is your product/service/messaging
    Interesting?
    Unusual?
    Useful?
    Funny?
    Valuable?
    Desirable?
    If not, you might need to get a little creative if you want your message to spread
  • Commit to It!
    Social media is not ‘free’
    It will take up time and resource
    Make sure you’ve agreed how long you’re going to spend in each day / week
    Don’t forget you’ll need to monitor & moderate on some social networks
    Review your progress/performance regularly and amend your strategy if necessary
  • Who Rocks at Social?
  • Any Questions?
  • Integrating Online into the Mix
  • How Does it All Fit Together?
    SEO
    PPC
    Social
    Press/Radio/TV
    Direct Mail
    Email
    An integrated campaign will perform exponentially
    better than a single channel campaign.
  • Play to Each Channel’s Strengths
    Press/Radio/TV/Exhibitions etc are all great for raising brand awareness, plus they will generate responses in their own right
    Likewise, direct mail campaigns may generate web traffic
    However, if you do great work offline, but are invisible online you’re missing a trick…
  • Influences
    Offline activity will influence online behaviour –one of our clients saw significant increases in branded search during a local radio campaign
    Brand recognition will also influence the number of people clicking on your paid and natural search listings
  • Sky – Case Study
    Brand searches and website visits are at their
    highest with integrated media campaigns.
    When Sky’s media campaign included both online
    and offline advertising (in September-November of
    2005) searches for the Sky brand increased by
    +20% and searches for the Sky URL more than
    doubled.
    - Source IAB.
  • Integrating Online into the Mix
    Any collateral you produce should also promote your online properties:
    Website
    Social profiles
    Blog
    Leverage offline activity online:
    Sponsorship
    Press releases
    Speaking engagements
    Charitable work
  • Get your Ducks in a Row…
    Integrated campaigns can be tricky to manage internally
    If you are running a variety of offers via various channels then make sure all members of staff are kept up to date & know how to process them
    Also have agreed processes in place if things should go wrong – e.g. if someone received an offer via email, but has forgotten to print the voucher how do you deal with it?
  • Any Questions?
    Hannah Smith
    hannah@gravytrain.co.uk
    http://www.gravytrain.co.uk/