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10 Tips for Fixing Your Conversion Problem — Permantly

The organization has a short-term ‘sales culture’ so almost everything marketing does is oriented to creating a lead. You know that there are larger system/infrastructure issues that are impacting performance but you can’t anyone to invest/focus on them. You’re on a trend mill running as fast as you can, but going nowhere.

It’s a nightmare thousand of marketers are living everyday, so let’s get to fixing this issue, permanently. The problem, at its core, is money. Yes, resources and time are also issue but the bigger challenge is that you have is a budget loaded with program dollars intended to be spent on media, events and other lead generating activities. Unfortunately, little are earmarked to fix the web infrastructure, navigation and content issues that are keeping leads from converting. You have a system problem, without system dollars to fix it.

Step one in the process is to get a capex budget. Just like the one used to build the corporate website. And get a big one, depending on size of the website you’ll need at least $500K, and perhaps over $1M, to build a “system” that will improve conversion rates. Here’s how you’re going to spend it.

Assessing Search – does the organization know what it wants to be known for (what topics, products, solutions) and how audiences search for those items? If not, pull together a top 10 list and get to work finding out. Use tools like Google Keyword Planner, Moz Open Site Explorer and Moz Keyword Explorer to gauge popularity and set priorities from your existing website.
Increasing SEM spend – after assessing your top 10 priorities you’ll most likely find you need to increase your spend to improve your position. Determine how much, and for how long.
Inventorying & Assessing Content – while your marketing dollars are working to help audience find you, the next step is to help visitors find the information they are looking for quickly. Assess the content on the following criteria: relevance (is it current, audience aligned, and insightful), accessibility (clicks and public view), and scanablity (ease of assessing key points)
Evaluating Readability – time to take a hard look at the content you’re producing. Is it written in the audience language or your engineers? Is it compelling, will it engage audiences. Use tools like Flesch Kincaid Reading Ease and the Gunning Fog Index to help score content.
Modifying Content – this could be painful. Try to leverage existing material. If you have videos, carve them up into 2 minute or less “snackable” insights. Long form content like white papers, etc., do the same. Chunk content into smaller more digestible bits. Next, create templates and guidelines for producers to follow so they know the type of content that will work best for marketing needs.
Investing in UX – find out how visitors really navigate your site. You may be shocked by their lack of sophistication, and patience. Use tools like Validately to help assess users experience with your web properties.
Optimization Everything – create pilot pages based on the UX findings and watch how visitors navigate and consume content. Use tools like Hot Jar to help track visitor clicks. Set performance metrics for bounce rates, time on page and conversion rates. Performance optimization is an ongoing effort so become comfortable with constant experimentation.
Training Everyone – to produce the right content, invest the time and resources to train on how to use the new templates — product marketers on how to produce audience focused content, marketing folks on how to write ad copy that’s compelling, etc. Use insights gathered in steps 5 and 7 to convince folks to get onboard.
Hiring an advisor – if this sounds like a lot of work, it is. If you don’t have the staff, the time, or the desire to take it on get someone to help you. You have a day job producing leads so put someone else on a parallel path of improving the process and performance. Chunk up the work plan mentioned above into quarters, align it to the marketing and the organizations priorities and set reasonable expectation on making progress.

Inbound marketing, content marketing, digital marketing, whatever you want to call it is not a marketing “tactic,” it is an ecosystem built from the outside in and requires a system thinking approach. The steps above will help you pinpoint issues within the system. “Digitalizing” an organization starts with audience facing sites so try to align this effort with any organizational effort related to digital transformation.

Getting the funding, use data points to prove the value of building a robust inbound lead generation capability. According to CEB, 71% of buyers start their purchase journey on the web. Build a market visibility index using your pipeline/waterfall metrics and market share. Reverse the numbers and find out what percent of the total opportunities available are in your pipeline. If you need more benchmarks, download Hubspot latest report on inbound marketing.

Need a case study? The process I just describe was implemented at a client this year. The results of the investment and effort have produced a 95% increased in MQL’s and an improvement in conversion rates by 65%. Inbound is now the top lead source in volume and performance. This organization has a hardcore outbound sales culture…which now, believes in the power of inbound marketing.

7 Tips for a Great Agency Partnership

A few weeks ago, I participated in an interview with CEB‘s new Marketing Solutions group. The focus of the article, as they described it, was to “understand what it takes to have a healthy client-agency relationship.”

The article was published in their July monthly newsletter to members. CEB was kind enough to allow me to share an excerpt of the article with my readers (see below).

We asked agency leaders from key partners in CEB’s recently launched Marketing Solutions* effort to answer the question “What key relationship-building steps do clients most often overlook?” Below you’ll find our curated list of top overlooked steps: 

Make Sure They “Get It”: No matter how well the agency knows your industry, there needs to be discipline on both sides, ensuring the agency invests time getting to know your business, customers, brand, and the expectations of key stakeholders. 
Keep the Creative Spark Alive: Saying “no” too many times or being too directive can kill a client/agency relationship. You’re looking for a fresh perspective, not a passive, tactical partner. Challenge your agency to do at least one wildly strategic or creative thing for you each year, something that might even make you a bit nervous. 
Be Constructive: Creative teams invest time in understanding a clients’ issues/objective and then brainstorm on possible solutions. Keep in mind that it’s not what you say, because agencies need your input, it’s how you say it. First be complimentary, what you like, and then give notes. 
Don’t Miss the Magic: Too often RFP’s are focused only on qualifications and price. The real magic in an agency relationship is how well you work together. Be mindful of the way your teams will work together—and bring out the best in each other—that will really make a difference. 
Understand Limitations: A good creative campaign can change perceptions about your brand, products, and even service capabilities. However, it is the burden of the organization to deliver on the “promise” being communicated. Be realistic of what your agency partners can and cannot solve for.
Agency’s Ability to Help You Bust Internal Silos: Assess agency candidates for their understanding of key partner functions (like sales, service or operations) and their ability to help you bring those other partners into creating seamless customer experiences.
Agency’s Ability to Disrupt Your Customers: Winning marketing efforts disrupt what customers think, believe, and assume about themselves (not about you). Bottom line: pressure test your agency’s empathy—the ability to go deep into how customers think about themselves and their own world.

Additionally. CEB is now providing execution support on B2B go-to-market messaging and content creation. They’ve partnered with select agencies, like gyro, to offer engagements that help create messaging and content that reflect the latest insights from CEB’s B2B buyer and best practice research If you’re interested in learning more, send me a note.

The “Stanley Cup” of B2B Social Media

This time of year, America’s third or fourth (depending on where you live) most popular sport gets its moment in the sun. The Stanley Cup finals begin this week and the nation’s attention turns to ice, hockey sticks, pucks, and maybe mullets.

For business marketers, the “holy grail,” or in this case the “Stanley Cup,” has been trying to demonstrate the business impact of social media. Not defined by adoption, usage, or engagement, but by influence. Proving that social media and/or social networks can influence buyer behavior. New insight suggests that it might be time to lace up the skates and put on the pads.

Word of mouth (WOM), defined by person-to-person communication be that in person or over the phone, is and has always been the most used, and most influential channel for business buyers. Sometimes also described and measured as NPS (Net Promoter Score), it is the “Wayne Gretsky” of driving influence among decision makers, both in new acquisition, and for renewal.

Unlike WOM, Social Media has struggled with demonstrating influence. Adoption and usage rates continue to grow, but the impact on B2B decision makers has been difficult to nearly impossible to measure (btw – this is not unlike other, more established media channels).

That was until now. Research from Buyersphere may give us a clue to how social media may influence decision makers in the near future, and it has given us a couple of “hockey sticks” and a “puck” to play with.

According to Buyersphere’s Annual Survey of B2B Buyer Behavior, even though buyers mention social media (and providers such as Twitter, Facebook and Linkedin) when asked to rate their usage and the usefulness of channels when searching for vendors, they fall off the grid when asked to evaluate their influence. As you would expect, word of mouth came out on top.

Diving deeper into the research, it revealed a few game changing findings. Twenty to thirty year olds (Gen Y), act like no other previous generations. The first “hockey stick” is somewhat known — twenty-something business buyers are roughly twice as likely to seek information or advice from social media as the generation before them (31-40 year olds). And almost four times more likely to than the baby boomers (51-60 year olds).

The second hockey stick, and the one that may end up being somewhat problematic for marketers, is that 49% of Millennials stated that they wanted to create and publish their own professional content. They not only want your content, but they also want to be able to disassemble it and repackage it with their own point of view.

And finally, the puck to play with is that buyers under 30 are the only group that describe word of mouth as social media first, and then phone or in person. Close to 50% of Gen Y buyers defined WOM as any social media, in person or phone, mentioned by only 33% of the respondents. Buyers 40-50 by contrast, define WOM as in person or phone 60% of the time with any social media platform only 23%.

Game On

Marketers most powerful and influential channel is now being redefined, and this presents the best opportunity to date to demonstrate the impact of social media on buyer behavior. “To skate to where the puck is going to be” as Gresky used to say, we need to plan now.

To define the approach we need to understand the components of “social media” that are often lumped together – social networks and social media. Social networks refer to the connection among users and their social structure (friend, business acquaintance, etc.).

Social media is defined as the online channel used to generate, access and distribute content. The distinction is important because of the way different generations of business buyers use and value them. This is key to unlocking influence.

We know that their social network heavily influences Gen Y, more than any other generation. We know that half of them want to produce and share their own content, 60% upload content to the web, and 62% rate products and services on the web.

So for Enterprise accounts, where Gen Y is 5-10 years from occupying the C-Suite, take a lesson from McDonalds and “grow your own customers.” Get Gen Y hooked on your content by involving them in your brand and making your content modular so it’s easy to repackage and share. The route to influence is through cause marketing efforts delivered via mobile devices. Thirty-seven percent of Millennials say they are drawn to products with co-branded campaigns.

For small businesses, which Gen Y owns close to 1 out of 3, according to the Executive Council of Small Business (ECSB), the goal should be to make them advocate for your brand, product or services to their network. To do that, focus on issue resolution, the number one loyalty driver. For prospects, provide them with information that is useful.

According to the ECSB, the number one pain point for all small business owners is sales and customer acquisition; being twice as prevalent among Gen Y owners. Specifically, lead generation and successfully competing with other small business owners. Help them understand how your products and services can help them grow their business.

Even though there is potential for social media to deliver a real, tangible business impact, it will be similar to this championship series. It’s not going to be quick, expect to lose a game or two along the way, and to be successful you’ll need to take many shots on goal…hell, you may even lose a tooth or get a “shiner.”