The Ultimate Formula to Improve Conversions - July 2011

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It's a small formula. But it will have a big impact on your conversion rates, if you follow each of the elements of the equation in a systematic, methodical way.

Conversion = (Content + Usability + Motivation + Incentive) - (Friction + Anxiety)

Byron White, CEO of ideaLaunch, and Tim Ash, CEO and Founder of Site Tuners will walk you through this simple, but powerful conversion-rate improvement formula that they put to work every day–on the web and for multiple channels.

In this webinar, you'll learn:

Conversion: How to use the Four Pillars of Trust to increase conversion rates.
Content: How to create different content for different readers for betterment.
Usability: How to avoid confusing your buyers and smooth the path to your conversion goal.
Motivation: How to motivate customers to take action and feel great!
Incentive: How to push customers over the edge in simple ways.
Friction: How to find it and reduce it to maximize conversions.
Anxiety: How to reduce both customers' and your own anxiety.

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The Ultimate Formula to Improve Conversions - July 2011

  1. 1. The Ultimate Formula to Improve ConversionsByron White July Content Marketing Webinar Tim AshCEO and Founder Monthly Webinar #24 CEO and FounderideaLaunch Monday July 25th, 2011 Site Tuners@ByronWhite @Tim_Ash#UltimateCRO #CRO #LPO #UltimateCRO
  2. 2. The Content The Ultimate FormulaMarketing Revolution to Improve Conversion Rates
  3. 3. TheContentMarketingRevolution
  4. 4. It’s the art of listening to your customers’ wants and needs. Search Box Social Media Web Analytics Keyword Popularity Customer Service Questionnaires
  5. 5. And the science of distributing it to them in a compelling way. Apps Downloads Printed Books eBooks RSS Feeds Newsletters News Feeds Widgets
  6. 6. It’s catching readers orbiting at high speeds. Classes Desktop Events Information Portals iTunes Mobile Online Offsite Social Networks Webinars
  7. 7. With information they want and need. Comparisons Competitive Reviews Do’s and Don’ts How To’s Tips and Advice Video Tours Webinars Workbooks
  8. 8. It’s testing campaigns to learn what works best. A/B Testing Multivariate Testing Eye Tracking Segmentation Geo Targeting Usability Content Testing
  9. 9. And finding the most efficient path to sales. Beta Testing Content Scoring Conversion Analysis Customer Surveys Lead Scoring Purchase Patterns Teaser Campaigns Trial Offers
  10. 10. Content marketing is a six-step process and you need all six.
  11. 11. The Ultimate Formulato ImproveConversion Ratesand Grow Your Business
  12. 12. The Ultimate Formula to Improve ConversionsConversion = (Content + Usability + Motivation + Incentive) - (Friction + Anxiety) Content: Are you earning trust with information customers want and need? Usability: Is your content and imagery optimized for conversion? Motivation: Do you give clear reasons to buy and not try the competition? Incentive: Are you offering any incentives, trials or rewards? Friction: Have you identified potential resistance and reduced the pain points? Anxiety: Have you pinpointed the concerns and resolved the issues?
  13. 13. 1 Content How Good?Customer Wants and NeedsAccess to Industry Expert WritersConversion InfluenceCost for Conversion Ratio How Much?Content CurationTopic ResearchCompetitive IntelligenceLink PopularityMarket Share Value How Often?Competitive Publishing FrequencyTimeliness and Contextual RelevancyConversational and Contagious
  14. 14. Indentify your company’s mantra as the starting point. Winning is Everything Green Bay Packers Think IBM Fun Family Entertainment Disney Save Babies March of Dimes Healthy Fast Food Wendy’s Kick Butt in Air and Space Air Force The Art of the Start, Guy Kawasaki
  15. 15. Get in tune with Customer 2.0 wants and needs. Customers Needs 2.0 Customers Needs • Credibility, Belief and Logic • Info in a Hurry • Exposure to New Information • Access to Specific Things • Features and Benefits • Personalization • Mystery and Bravery • Authority Advice • Surprise and Delight • Relevant Content • Personal Reference • Social SupportContent Critical by Gerry McGovern and Rob Norton
  16. 16. You need a Content Plan packed with lots of research. What’s in the Plan? Content Analysis Competitive Research Customer Research Keyword Research Keyword Silos Market Share Reports Style Guide Content Recommendations Performance Goals
  17. 17. You need Great writers with great characteristics. Curiosity Storytellers Passionate Voice Journalists Well Traversed Researchers Make Meaning Socratic Keep it Simple Optimizers Less is More Knowledge Seekers Short and Sweet Wordsmiths Fresh Insight Deep Diggers Results Driven Big Picture Thinkers Inquisitive
  18. 18. Learn how and why to tell stories. Great Stories Solve Problems Teach us to be Smart Offer Surprise and Delight Focus on What Happens Next Introduce Great Characters Contagiously Get Passed Around Engage Readers Keep Readers Coming Back for More Sisomo by Kevin Roberts
  19. 19. Why some stories get passed on and on. Information A Story Fills You Up Moves You On Facts Acts Citing Exciting Reams Dreams Promotional Emotional Static Dramatic Checklists Casts of Characters Compiling Compelling Annotated Animated Feeding the Brain Touching the Heart Expires Inspires
  20. 20. 2 UsabilityInformation Is the Driver of Usability How Hard to Find What You Want Information Architecture Segment Readers and Customers Keep-It-Simple Stupid (KISS) Make It Easy to Test
  21. 21. The Paradox of Choice Too Many Choices in the New Micro-Expansion Age New rules for complex decision-making have changed. New meaning needs to be developed to find the best path. New methodology for the web-confined space. New reward needs to surface to influence decisions.The Paradox of Choice by Barry Schwartz
  22. 22. Develop an Information Architecture Plan (NOT a Site Map)
  23. 23. Segment your prospect customers for best conversions.
  24. 24. 3 Motivation and Incentive Who Are Your Customers? What do they want? What do the need? What motivates them? What turns them on? Are you giving it to them? Test, test, test!
  25. 25. Customer research is the key to motivation.Who Are Your Customers? Search box. Track what prospects are looking for and what they find. FAQ’s. Review what customer ask for and the language used. Customer service reps. Learn the FAQs and knowledge requests. Customers. Speak with customers and learn the wants and needs. Analytics. Discover the source of traffic and navigational pathways. Surveys. Ask for feedback on your content, navigation and methodology.
  26. 26. Learn what your customers want and need.
  27. 27. Learn when your customers are happy and not.
  28. 28. Develop customer personas for content creation.
  29. 29. Customer personas
  30. 30. Develop style guides for content creation.
  31. 31. Diversify your content asset portfolio to earn trust. Articles Books Courseware eBooks Podcasts Printed Books Tip Centers Webinars Whitepapers Widgets Workbooks Video
  32. 32. Distribute your content assets to multiple channels.Distribution Channels Blog Facebook Linked In Press Releases Podcasts Twitter Webinars
  33. 33. Try “Feel” words in content to improve conversion rates. Employment Feel Words Financial Feel Words Entry-Level Position You’re Already Pre-Approved Excellent Growth Opportunity Cash Back Offer Immediate Openings Be Debt-Free in Weeks Leading Company Seeks Instant Financial Freedom Growing Company Seeks No Annual Fee Team Player Pocket Extra Money Strong Interpersonal Skills Low Introductory Rate Financially Motivated Fast Cash Annual Performance Bonus Start Saving Now Team Environment Peace of Mind
  34. 34. Try “sell” words in content to improve conversion ratesOffer Well Words Trial Sell Words Motivator Sell Words Special Offer Free Trial Free Gift Exclusive Offer First Time Trial Pays for Itself Limited Time Offer No-Risk Trial Limited Availability Click Here Risk-Free Trial As Seen on TV Right Now Buy After Review Solve X Instant Access Test Drive Stop Y Instant Download Free Membership All-Inclusive Free Shipping Free Subscription Best-Rated No-Fuss Signup Join Beta Group Tested and Proven Easy Signup Free Trial with Feedback Money-Back Guarantee
  35. 35. Test both positive and negative sell words in content. Negative Sell Words Positive Sell Words Baffling Persevering Blurred Efficient Unclear Hard-Driving Bewildering Proactive Mind-Boggling Adaptable Complicated Responsive Convoluted First-Rate Perplexing Top-Notch Puzzling Highly Competent Mixed Up Powerful
  36. 36. Tip # 1: Funny or Die: Groupon’s Fate Hinges on Words http://tinyurl.com/ByronGroupon “Groupon’s breakthrough sprang not just from the deals but from an ingredient that was both unlikely and ephemeral: words.” “Groupon borrowed some tools and terms from journalism, softened the traditional heavy hand of advertising, added some banter and attitude and married the result to a discounted deal. It has managed, at least for the moment, to make words pay.” “Without horses,” she writes, “Polo shirts would be branded with monkeys and Paul Revere would have been forced to ride on a Segway. Celebrate our hoofed counterparts with today’s Groupon. ...”
  37. 37. Tip #2: Maybe the incentive to buy should be YOU!
  38. 38. 4 Friction + Anxiety Sources of Friction and Anxiety Lack of Trust Customer and Fan Base Support Alignments with Wants and Needs Difficulty in Solving Problems Risk in Taking Action Risk in Not Taking Action
  39. 39. Research your content marketing strength and weakness. Content Asset YourSite.com Competitor.com Traffic A C PPC Spend B A Content Portfolio B B Content Authority C B Publishing Frequency D C Social Reach F D Social Conversations F F Testimonials A F Partnerships B A Internal Links C B Inbound Links C C SEO Strength A C SEO Performance B A Testing Methodology A B
  40. 40. Use free tools to find all the answers fast and easy.Free Research Tools WordVision.com SpyFu.com Compete.com QuantCast.com SEOMajestic.com Raven-SEO-Tools.com Tools.SEOBook.com SEOToolSet.com LinkVendor.com MarketLeap.com
  41. 41. Organize all the data to pinpoint opportunity for betterment.
  42. 42. Is the friction and anxiety driven by not enough information?
  43. 43. Is the friction and anxiety driven by TOO MUCH information?
  44. 44. 5 How do you measure success with this new formula?
  45. 45. Customers that download content assets.
  46. 46. Revenue from customers that downloaded content assets.
  47. 47. Improvements to time on site.
  48. 48. Decreasing user acquisition costs.
  49. 49. Improvement in listing positions.
  50. 50. Increasing organic traffic.
  51. 51. Return visitors to your website.
  52. 52. Capturing organic market share from the competition.
  53. 53. Increasing conversion rates as the final goal.
  54. 54. Byron White, ideaLaunchChief Idea OfficerTwitter: @ByronWhiteByron[at]ideaLaunch.com “The only marketingPhone: 617-227-8800 x 201 left is content marketing.” Seth Godin Free Book Download: ideaLaunch.com

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