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HeroConf: Taking a Full Funnel Approach to Digital Marketing
The document discusses a full funnel marketing approach, emphasizing the need to understand the buyer's journey and implement a market-centric strategy for effective engagement. It focuses on the importance of leveraging micro-conversions and aligning marketing efforts with sales cycles to enhance customer experiences and drive conversions. Additionally, it highlights the necessity of effective attribution modeling to measure campaign effectiveness beyond last-click insights.
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HeroConf: Taking a Full Funnel Approach to Digital Marketing
- 1. Taking A FullFunnel Approach To Marketing Amy BishopDirector – Digital Will Larcom Account
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- 3. Meet Your Presenters AmyBishop – Director of Digital Marketing, ZirMed – Love cat memes. Okay, any memes. – Search Engine Land Columnist – @hoffman8
- 4. Meet Your Presenters WillLarcom – Account Manager at Hanapin Marketing – PPC Hero Blogger – @Will_Larcom – Spirit Animal: Husky
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- 6. Session Objectives Understand thebuying 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. Embracing The FullFunnel 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. Taking A MarketCentric Approach
- 9. Taking a MarketCentric Approach 1. Understanding who your market is and why they care
- 10. Taking a MarketCentric Approach 1. Understanding who your market is and why they care 2. Allowing the message and path to be defined by the market
- 11. Example: You sellcars. Who is your target market?
- 12. EVERYONE!! Example: You Sellcars. Who is your Target Market?
- 13. Example: You Sellcars. Who is your Target Market? EVERYONE!!
- 14. The key isto start with the problems that you can help solve.
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- 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. Market Driven Strategycontext Understanding theproblem 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. Aligning the Buyer’sJourney with the Sales Cycle Prospecting & Initial Contact Qualification Presentation Objection Handling Closing Awareness ConsiderationEvaluation Decision & Purchase
- 19. Why It Matters GoodExperience Bad Experience
- 20. Exploring The FullFunnel
- 21. The E-Commerce Funnel Awareness Consideration Decision Adoption Advocacy Exposetarget audience to brand content
- 22. The E-Commerce Funnel Awareness Consideration Decision Adoption Advocacy Exposetarget audience to brand content Generate user engagement with product/brand
- 23. The E-Commerce Funnel Awareness Consideration Decision Adoption Advocacy Exposetarget audience to brand content Generate user engagement with product/brand Drive target audience to product offers
- 24. The E-Commerce Funnel Awareness Consideration Decision Adoption Advocacy Exposetarget audience to brand content Generate user engagement with product/brand Drive target audience to product offers Generate repeat customers
- 25. The E-Commerce Funnel Awareness Consideration Decision Adoption Advocacy Exposetarget audience to brand content Generate user engagement with product/brand Drive target audience to product offers Generate repeat customers Encourage customer influencers
- 26. The E-Commerce Funnel Awareness Consideration Decision Adoption Advocacy Exposetarget audience to brand content
- 27. The Lead GenJourney Unaware/Prospecting Problem Acknowledged Seeking Solution Brand Interest Customer Expose target audience to brand content Explain issue & reveal solution oriented offer
- 28. The Lead GenJourney 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. The Lead GenJourney 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. The Lead GenJourney 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. But How DoI Know What Stage They Are In?
- 32. How do youknow 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. How do youknow 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. Leveraging Micro-Conversions If youcan’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. Potential Content Offering VideoeBook White paper Case Study Infographic Blog Posts Fact Sheet FAQ Webinar By The Numbers Sheet
- 36. Multi-Channel, Market-Centric Approach High FunnelMicro-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. Organizing Your FullFunnel Efforts
- 38. E-Commerce Map Adoption Decision Advocacy Objective KPIPlatforms 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. Lead Generation Map BrandInterest 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. Data Based MarketingIntervals
- 41. Remarketing Obstacles “Why doadvertisers 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. Remarketing Smartly Define Micro- Conversions Build Remarketing Lists offof Micro- Conversions Deliver Next Stage Content
- 43. Picking the RipestFruit Results without a full funnel plan
- 44. Picking The RipestFruit Results with a full funnel plan
- 45. Understanding The Data 1.Compare path length 2. Analyze purchase lag 3. Consult cohort analysis
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- 47. Path Length ByGoal Marketing Qualified Lead Sale
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- 49. Conversion Length ByGoal Marketing Qualified Lead Sale
- 50. Next Step: IllustratingThe 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
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- 54. Cohort Analysis -Graphed
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- 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. Determining Your Acceptable Costper 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. Measuring Success Conversions CPLTotal 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. Measuring Success Conversions CPLTotal 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. Measuring Success Conversions CPLTotal 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. So Why NotJust Push Demo & Phone Calls?
- 62. Why It Matters GoodExperience Bad Experience
- 63. Pushing High FunnelConsumers 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. Pushing High FunnelConsumers 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. Aligning the Buyer’sJourney with the Sales Cycle Awareness ConsiderationEvaluation Decision & Purchase Prospecting & Initial Contact Qualification Presentation Objection Handling Closing
- 66. Pushing High FunnelConsumers 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. Importance of AttributionModeling
- 68. The Importance ofAttribution 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. Moving Beyond LastClick • 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
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- 71. Attribution Modeling -Analytics Last Click First Click
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- 75. Concluding Thoughts • Conversionspaths 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. Thank Your ForJoining Us! Amy BishopDirector – Digital Will Larcom Account
Editor's Notes
- #17 These problems may not even be mutually exclusive. Maybe they need a low-cost, reliable vehicle with third row seating. Then you’ll overlay demographic information and firmographics to even further break these problems down into smaller more targeted buckets but the key is that if you can understand the problem that they are trying to solve – then you can respond to their needs with helpful and beneficial content as they make their way through the buyer’s journey. You’ve heard people say “don’t lead with features” – this is why. Maybe you have an SUV with incredible towing power but if you’re selling it to someone who is interested in the third row seating and safety features specifically because they have 3 kids and one on the way, they don’t care about the towing power.
- #18 Then you’ll overlay demographic information and firmographics to even further break these problems down into smaller more targeted buckets but the key is that if you can understand the problem that they are trying to solve – then you can respond to their needs with helpful and beneficial content as they make their way through the buyer’s journey. You’ve heard people say “don’t lead with features” – this is why.
- #19 These two things are not the same – but you can’t think only through the lens of one. You have to find a way to bridge the two so that they work in synch
- #53 Filter for your KPI metric – in this situation, it is transactions/sales
- #54 Also available
- #66 These two things are not the same – but you can’t think only through the lens of one. You have to find a way to bridge the two so that they work in sync