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HeroConf: Taking a Full Funnel Approach to Digital Marketing

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Diving into a market-centric, multi-channel, full funnel approach to digital marketing. Continue the buyer's progression by creating solution-oriented paths delivered through multiple channels in synchrony. Leverage multiple attribution models to track performance and make decisions.

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HeroConf: Taking a Full Funnel Approach to Digital Marketing

  1. 1. Taking A Full Funnel Approach To Marketing Amy BishopDirector – Digital Will Larcom Account
  2. 2. Meet Your Speakers
  3. 3. Meet Your Presenters Amy Bishop – Director of Digital Marketing, ZirMed – Love cat memes. Okay, any memes. – Search Engine Land Columnist – @hoffman8
  4. 4. Meet Your Presenters Will Larcom – Account Manager at Hanapin Marketing – PPC Hero Blogger – @Will_Larcom – Spirit Animal: Husky
  5. 5. Introduction
  6. 6. Session Objectives Understand the buying cycle to leverage a market-centric strategy Implement a nuanced, data supported remarketing strategy Align the buying cycle with milestones and micro-conversions Determining goals & assessing the value of different milestones throughout the complete buyer's journey
  7. 7. Embracing The Full Funnel Mindset • A major draw of PPC is its direct, real time attribution • With this benefit, comes an adverse impact on industry mindset • Last click attribution leads to an over emphasis on bottom of the funnel • Movie Promotion Analogy • Release Date -> First Images -> First Poster -> Teaser Trailer -> Trailer #1 -> Trailer #2 –> Trailer #3 -> Movie Finally Attended
  8. 8. Taking A Market Centric Approach
  9. 9. Taking a Market Centric Approach 1. Understanding who your market is and why they care
  10. 10. Taking a Market Centric Approach 1. Understanding who your market is and why they care 2. Allowing the message and path to be defined by the market
  11. 11. Example: You sell cars. Who is your target market?
  12. 12. EVERYONE!! Example: You Sell cars. Who is your Target Market?
  13. 13. Example: You Sell cars. Who is your Target Market? EVERYONE!!
  14. 14. The key is to start with the problems that you can help solve.
  15. 15. Great but…. What?
  16. 16. What’s the problem? • Need a vehicle that gets good gas mileage • Need a vehicle with good safety ratings • Need the ability to tow • Need a low-cost, reliable vehicle • Need third row seating
  17. 17. Market Driven Strategycontext Understanding the problem allows you to understand their interests relevance With context, you can ensure that you are creating relevant responses, messages & content relationships With relevance, you can dig deeper into their needs, build trust & guide their journey
  18. 18. Aligning the Buyer’s Journey with the Sales Cycle Prospecting & Initial Contact Qualification Presentation Objection Handling Closing Awareness ConsiderationEvaluation Decision & Purchase
  19. 19. Why It Matters Good Experience Bad Experience
  20. 20. Exploring The Full Funnel
  21. 21. The E-Commerce Funnel Awareness Consideration Decision Adoption Advocacy Expose target audience to brand content
  22. 22. The E-Commerce Funnel Awareness Consideration Decision Adoption Advocacy Expose target audience to brand content Generate user engagement with product/brand
  23. 23. The E-Commerce Funnel Awareness Consideration Decision Adoption Advocacy Expose target audience to brand content Generate user engagement with product/brand Drive target audience to product offers
  24. 24. The E-Commerce Funnel Awareness Consideration Decision Adoption Advocacy Expose target audience to brand content Generate user engagement with product/brand Drive target audience to product offers Generate repeat customers
  25. 25. The E-Commerce Funnel Awareness Consideration Decision Adoption Advocacy Expose target audience to brand content Generate user engagement with product/brand Drive target audience to product offers Generate repeat customers Encourage customer influencers
  26. 26. The E-Commerce Funnel Awareness Consideration Decision Adoption Advocacy Expose target audience to brand content
  27. 27. The Lead Gen Journey Unaware/Prospecting Problem Acknowledged Seeking Solution Brand Interest Customer Expose target audience to brand content Explain issue & reveal solution oriented offer
  28. 28. The Lead Gen Journey Unaware/Prospecting Problem Acknowledged Seeking Solution Brand Interest Customer Expose target audience to brand content Explain issue & reveal solution oriented offer Demonstrate value to MQL with micro-conversions
  29. 29. The Lead Gen Journey Unaware/Prospecting Problem Acknowledged Seeking Solution Brand Interest Customer Expose target audience to brand content Explain issue & reveal solution oriented offer Demonstrate value to MQL with micro-conversions Audience actively seeking your product type/service
  30. 30. The Lead Gen Journey Unaware/Prospecting Problem Acknowledged Seeking Solution Brand Interest Customer Expose target audience to brand content Explain issue & reveal solution oriented offer Demonstrate value to MQL with micro-conversions Audience actively seeking your product type/service SQL becomes customer
  31. 31. But How Do I Know What Stage They Are In?
  32. 32. How do you know what stage they are in? • With a CRM, you can leadscore and set statuses based upon explicit and implicit data • Search terms can provide insight into the buying cycle • Look at your attribution model to understand the impact of different channels • You can observe intent based upon implicit data from actions
  33. 33. How do you know what stage they are in? • With a CRM, you can leadscore and set statuses based upon explicit and implicit data • Search terms can provide insight into the buying cycle • Look at your attribution model to understand the impact of different channels • You can observe intent based upon implicit data from actions Enter: micro-conversions.
  34. 34. Leveraging Micro-Conversions If you can’t get the sale right now, get something that will help you market. What is their current buying cycle stage? What problem are they solving? What is needed to get to the next step in the buying cycle? What is needed to get to the next step in the sales cycle?
  35. 35. Potential Content Offering Video eBook White paper Case Study Infographic Blog Posts Fact Sheet FAQ Webinar By The Numbers Sheet
  36. 36. Multi-Channel, Market-Centric Approach High Funnel Micro-Conversion – Identify the Prospect’s Problem What the customer gets: better understanding of the problem and how to get started on a solution What you get: better understanding of the problem! Mid-Funnel Micro-Conversion: Reviewing Options What the customer gets: better understanding of potential solutions in more depth and the pros and cons What you get: continued and increased understanding of their path and considerations Low-Funnel Micro-Conversion: Differentiation & Decision What the customer gets: peace of mind in their decision What you get: the chance to give your value prop when they are most likely to hear and absorb it.
  37. 37. Organizing Your Full Funnel Efforts
  38. 38. E-Commerce Map Adoption Decision Advocacy Objective KPI Platforms Maximize reach and video/ad views Cost per view, CPM, CTR, Reach Site traffic, engaged visitors CPC, On-site behavior, ad engagements Drive conversion CPA, ROAS, ROI Construct brand affinity Social interaction, Repeat Customers Inspire influencers Earned impressions, earned views, earned reach
  39. 39. Lead Generation Map Brand Interest Seeking Solution Customers Objective KPI Platforms Connect with target audience CPM, CPC Establish a need for a solution Site engagement, blog traffic, infographic downloads/views Demonstrate value CPA Micro-conversion: Case Study Generate specific brand interest CPA Micro-conversion: Demo Turn leads into customers Lead to live rate, retention
  40. 40. Data Based Marketing Intervals
  41. 41. Remarketing Obstacles “Why do advertisers remarket? Aren’t those the people that have already decided they don’t want your product?” -Random friend that believes I am a Paper Clip Marketer
  42. 42. Remarketing Smartly Define Micro- Conversions Build Remarketing Lists off of Micro- Conversions Deliver Next Stage Content
  43. 43. Picking the Ripest Fruit Results without a full funnel plan
  44. 44. Picking The Ripest Fruit Results with a full funnel plan
  45. 45. Understanding The Data 1. Compare path length 2. Analyze purchase lag 3. Consult cohort analysis
  46. 46. Path Length
  47. 47. Path Length By Goal Marketing Qualified Lead Sale
  48. 48. Conversion Lag
  49. 49. Conversion Length By Goal Marketing Qualified Lead Sale
  50. 50. Next Step: Illustrating The Path • We already have the path length & time lag for two separate conversions • Cohort Analysis will allow us to illustrate the delay between the two
  51. 51. Cohort Analysis
  52. 52. Cohort Analysis Segment
  53. 53. Cohort Analysis
  54. 54. Cohort Analysis - Graphed
  55. 55. Measuring Success
  56. 56. Measuring Success: Balancing Volume & Cost • Age old question: ROI or Revenue? • If possible, let cost per sale – not cost per lead – drive your marketing decisions • Understand the value of leads even if they don’t close right away • Analyze performance accordingly
  57. 57. Determining Your Acceptable Cost per Sale At some point, capping CPA also caps volume. Sometimes CPA increases could also lead to volume increases, which can mean PROFIT increases. That should be the focus. Make sure you understand where the threshold is.
  58. 58. Measuring Success Conversions CPL Total Cost Close Rate Cost Per Sale Sales Phone Call 47 $27.26 $1,280.99 34.5% $79 16 Video View 283 $9.07 $2,567.38 5.4% $168 15 Infographic 143 $14.57 $2,083.28 9.5% $154 14 Quiz 314 $18.05 $5,668.49 12.5% $145 39 Calculator 254 $10.73 $2,725.42 14.5% $74 37 Demo Request 92 $22.19 $2,041.30 25.8% $86 24
  59. 59. Measuring Success Conversions CPL Total Cost Close Rate Cost Per Sale Sales Phone Call 47 $27.26 $1,280.99 34.5% $79 16 Video View 283 $9.07 $2,567.38 5.4% $168 15 Infographic 143 $14.57 $2,083.28 9.5% $154 14 Quiz 314 $18.05 $5,668.49 12.5% $145 39 Calculator 254 $10.73 $2,725.42 14.5% $74 37 Demo Request 92 $22.19 $2,041.30 25.8% $86 24
  60. 60. Measuring Success Conversions CPL Total Cost Close Rate Cost Per Sale Sales Phone Call 47 $27.26 $1,280.99 34.5% $79 16 Video View 283 $9.07 $2,567.38 5.4% $168 15 Infographic 143 $14.57 $2,083.28 9.5% $154 14 Quiz 314 $18.05 $5,668.49 12.5% $145 39 Calculator 254 $10.73 $2,725.42 14.5% $74 37 Demo Request 92 $22.19 $2,041.30 25.8% $86 24 Even with a relatively low close rate, the cost per sale of the calculator is still pretty low – thanks to the sheer volume of conversions at such a low CPL.
  61. 61. So Why Not Just Push Demo & Phone Calls?
  62. 62. Why It Matters Good Experience Bad Experience
  63. 63. Pushing High Funnel Consumers Who Aren’t Ready Clicks Conversion Rate Conversions CPL Total Cost Close Rate Cost Per Sale Sales Phone Call 154 1.9% 3 $87.30 $254.10 34.5% $253 1 Video View 254 14.0% 36 $11.64 $413.93 5.4% $218 2 Infographic 274 9.3% 25 $17.19 $437.96 9.5% $181 2 Demo Request 183 2.3% 4 $71.74 $301.95 25.8% $278 1
  64. 64. Pushing High Funnel Consumers Who Aren’t Ready Clicks Conversion Rate Conversions CPL Total Cost Close Rate Cost Per Sale Sales Phone Call 154 1.9% 3 $87.30 $254.10 34.5% $253 1 Video View 254 14.0% 36 $11.64 $413.93 5.4% $218 2 Infographic 274 9.3% 25 $17.19 $437.96 9.5% $181 2 Demo Request 183 2.3% 4 $71.74 $301.95 25.8% $278 1
  65. 65. Aligning the Buyer’s Journey with the Sales Cycle Awareness ConsiderationEvaluation Decision & Purchase Prospecting & Initial Contact Qualification Presentation Objection Handling Closing
  66. 66. Pushing High Funnel Consumers Who Aren’t Ready Clicks Conversion Rate Conversions CPL Total Cost Close Rate Cost Per Sale Sales Phone Call 154 1.9% 3 $87.30 $254.10 34.5% $253 1 Video View 254 14.0% 36 $11.64 $413.93 5.4% $218 2 Infographic 274 9.3% 25 $17.19 $437.96 9.5% $181 2 Demo Request 183 2.3% 4 $71.74 $301.95 25.8% $278 1 Bonus: we have this many more leads in our CRM that we now know something about to help us market more intelligently.
  67. 67. Importance of Attribution Modeling
  68. 68. The Importance of Attribution Modeling Know how each channel & campaign contributes Align channels with appropriate actions and micro- conversions Create a better organized multi- channel experience Measure effectiveness accordingly
  69. 69. Moving Beyond Last Click • Measuring higher funnel campaigns solely from a last click perspective will yield underwhelming and inaccurate results. • But….but…how??? • Multiple Methods • Attribution models in Analytics or AdWords • Conversion paths in Analytics • Before/after analysis when launching high funnel or remarketing efforts
  70. 70. Attribution Modeling Analytics AdWords
  71. 71. Attribution Modeling - Analytics Last Click First Click
  72. 72. Top Conversion Paths
  73. 73. Before/After Launch Analysis
  74. 74. Concluding Roadmap
  75. 75. Concluding Thoughts • Conversions paths are becoming increasingly complex • Take a market centric approach – market solutions, not just products • Align strategy with your specific sales funnel • Leverage micro-conversions to align remarketing with buyer journey data • Measure success based on the both the value and cost of the sale • View performance in a broader scope than simply last click performance
  76. 76. Thank Your For Joining Us! Amy BishopDirector – Digital Will Larcom Account

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