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Build Your O2O Funnel
This document discusses how local businesses can build an online to offline (O2O) funnel to drive more in-store sales. It outlines a 5-step O2O funnel that includes: 1) increasing local search market share, 2) optimizing local listings, 3) driving online conversions, 4) increasing offline in-store conversions, and 5) boosting in-store sales. Case studies are provided showing how the O2O funnel can be modeled and ROI calculated for retail, restaurant, and medical businesses. Optimization of the O2O funnel is presented as a way for local businesses to get more shoppers and increase local ROI.
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Build Your O2O Funnel
- 1. Get more shoppers BuildYour Online 2 Offline Funnel Driving Local ROI with O2O Conversions
- 2. The Story 5.0 Million Local businesses analyzed 312 Million Reviews analyzed 1.8 Billion Local listings analyzed monthly Our Story
- 3. Local Search =Intent 93% of retail purchases are still happening in-store 72% of mobile local searches lead to an in-store visit 4/5 consumers conduct local searches 54% Looking for of Operation 53% Getting Directions 50% looking for an address 45% looking for product availability 51% will make a purchase within 24 hours Build your O2O funnel Build your O2O funnel
- 4. Build Your LocalO2O Funnel Build your O2O funnel Build your O2O funnel Build your O2O funnel Local Search Market Share Local Listings Presence Online Conversions Offline In-Store Conversions In-Store Sales T1 T2 T3 T4 T5 Local search impressions Pg 1 rank, accurate data, positive ratings & reviews Click-thru to: website, driving directions, phone calls, offers Store visits and calls Coupon and offer redemptions
- 5. Local O2O Funnel:Step 1 T1: Local Search Market Share T2: Local Listing Presence T3: Online Conversions T4: Offline In-Store Conversions T5: In-Store Sales Build your O2O funnel Build your O2O funnel
- 6. Local O2O Funnel:Step 2 T1: Local Search Market Share T2: Local Listing Presence T3: Online Conversions T4: Offline In-Store Conversions T5: In-Store Sales Build your O2O funnel Build your O2O funnel 3. Positive reviews 1. Page 1 SERP 2. Correct Data
- 7. Local O2O Funnel:Step 3 T1: Local Search Market Share T2: Local Listing Presence T3: Online Conversions T4: Offline In-Store Conversions T5: In-Store Sales Build your O2O funnel Build your O2O funnel
- 8. Local O2O Funnel:Step 3 T1: Local Search Market Share T2: Local Listing Presence T3: Online Conversions T4: Offline In-Store Conversions T5: In-Store Sales Build your O2O funnel Build your O2O funnel
- 9. Local O2O Funnel:Step 4 T1: Local Search Market Share T2: Local Listing Presence T3: Online Conversions T4: Offline In-Store Conversions T5: In-Store Sales Build your O2O funnel Build your O2O funnel Google Report May 2014 Google Report May 2013
- 10. Local O2O Funnel:Step 5 T1: Local Search Market Share T2: Local Listing Presence T3: Online Conversions T4: Offline In-Store Conversions T5: In-Store Sales Build your O2O funnel Build your O2O funnel Percentage of in-store visitors who buy Average order value
- 11. Get more shoppers TheBottom Line Calculating your O2O Funnel ROI
- 12. Remember the O2OFunnel Build your O2O funnel Build your O2O funnel Local Search Market Share Local Listings Presence Online Conversions Offline In-Store Conversions In-Store Sales T1 T2 T3 T4 T5 Local search impressions Pg 1 rank, accurate data, positive ratings & reviews Click-thru to: website, driving directions, phone calls, offers Store visits and calls Coupon and offer redemptions
- 13. Total Addressable Market Build your O2O funnel Build your O2O funnel TOTAL LOCAL SEARCH OPPORTUNITY Total brand searches (annual) Keyword category searches (annual) Total search opportunity Online conversion (directions/calls) @ 1% Online to in-store conversion rate @ 50% In-store visit to purchase rate @ 51%* Average order value @ $65 8.1 M 24 M 32.1 M 321 K 160.5 K 81.9 K $5.3 M T1: Local Search Market Share T2: Local Listing Presence T3: Online Conversions T4: Offline In-Store Conversions T5: In-Store Sales
- 14. Current Market Share Build your O2O funnel Build your O2O funnel Total Search Opportunity (TSO): 32.1 M LOCAL SEARCH MARKET SHARE Current local visibility (58%) * TSO Listing Accuracy (65%) YOUR MARKET SHARE -13,5 M -4.7 M 13.9 M CURRENT POTENTIAL SALES Click thru rate (directions or call) @ 1% Online to in-store conversion rate @ 50% In-store visit to purchase rate @ 51%* Average order value @ $65 T1: Local Search Market Share T2: Local Listing Presence T3: Online Conversions T4: Offline In-Store Conversions T5: In-Store Sales 139 K 69.5 K 35.4 K $2.3 M
- 15. Market Share Opportunities Build your O2O funnel Build your O2O funnel Your Market Share: 13.9M searches T1: Local Search Market Share T2: Local Listing Presence T3: Online Conversions T4: Offline In-Store Conversions T5: In-Store Sales GROW LOCAL SEARCH MARKET SHARE BY 25% Additional Market Share: Increase listings coverage & fix listing errors CURRENT POTENTIAL SALES Click thru rate (directions or call) @ 1% Online to in-store conversion rate @ 50% In-store visit to purchase rate @ 51%* Average order value @ $65 3.5 M 35 K 17.5K 8.9 K $580.1 K
- 16. Listing Presence Buildyour O2O funnel Build your O2O funnel Tools: • RioSEO • SweetIQ • Vendasta • WhiteSpark • Yext T1: Local Search Market Share T2: Local Listing Presence T3: Online Conversions T4: Offline In-Store Conversions T5: In-Store Sales
- 17. Measuring Performance Buildyour O2O funnel Build your O2O funnel T1: Local Search Market Share T2: Local Listing Presence T3: Online Conversions T4: Offline In-Store Conversions T5: In-Store Sales
- 18. Measuring Performance Buildyour O2O funnel Build your O2O funnel 17,567 T1: Local Search Market Share T2: Local Listing Presence T3: Online Conversions T4: Offline In-Store Conversions T5: In-Store Sales
- 19. Modeling offline conversions Build your O2O funnel Build your O2O funnel Online Conversions Offline in- Store Visit rate In-Store Sales conversion rate Average order value Calls 11% 50% – 71% 10% - 90% Depends Driving directions 6% Website clicks 2% T1: Local Search Market Share T2: Local Listing Presence T3: Online Conversions T4: Offline In-Store Conversions T5: In-Store Sales
- 20. Measuring O2O ROI Build your O2O funnel Build your O2O funnel T1: Local Search Market Share T2: Local Listing Presence T3: Online Conversions T4: Offline In-Store Conversions T5: In-Store Sales (Σ calls × in-store visit rate) + (Σ directions × in-store visit rate) × In-store conversion rate (purchases) × Average order value = Attributable in-store sales
- 21. Your O2O funnel:retail Local Search Impressions Local Listing Views Online Conversions Offline In-Store Conversions (visits) 273K 10.7% 60% 25% 101.1 M 10.8 M 1.9 M 1.1 M $13.6 M 17.6% 2.5% AOR: $50
- 22. Your O2O funnel:restaurant Local Search Impressions Local Listing Views Online Conversions Offline In-Store Conversions (visits) 215K 24.7% 70% 85% 13.1 M 3.2 M 362 K 253 K $6.5 M 11.2% 6.7% AOR: $30
- 23. Your O2O funnel:medical Local Search Impressions Local Listing Views Online Conversions Offline In-Store Conversions (visits) 1.1K 30% 60% 20% 1.1 M 306K 9.4K 5.7K $565.5 K 3.1% 0.3% AOR: $500
- 24. Get more shoppers MichaelMire Co-Founder & CRO @MichaelMire1 | Michael@sweetiq.com