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LSA19: Increase SMB Sales Growth

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This session was presented at the LSA19 event in Dana Point, California, February 25-27, 2019.

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LSA19: Increase SMB Sales Growth

  1. 1. INCREASE SMB SALES GROWTH DIGITAL MARKETING ADOPTION LEVEL
  2. 2. ONE Thing that Changes EVERYTHING Value Trust Adoption? Barriers:  Knowledge  Expertise  Terminology  Bad experiences
  3. 3. Customer Acquisition Cost CAC Customer Acquisition Cost CLV Customer Lifetime Value Barriers Add To Cost
  4. 4. Digital MarketingAdoption Level: DMAL Beginning the Modern Marketer Journey Perceives value, begins Operating as a Modern Marketer Managing as a Modern Marketer, realizing value
  5. 5. Digital Marketing Adoption Level: Measurements Website SocialDMAL Listing Reputation Online Ads Technology PEERS COMPETITORS
  6. 6. Digital Marketing Adoption Level: User Guide Segmentation Lead Ranking Insights Messaging DMAL Value Trust
  7. 7. Digital Marketing Adoption Level: Insights • 4 Star Review average • Ranked #1 in organic search • Social Media has very Positive Sentiment • Business Listings inaccurate • Website missing conversion elements • Beat top competitor w/additional keywords • Leverage Social Media sentiment with a larger spend • Losing potential Customers to competitors on Listings sites • Two new local competitors increasing PPC spend Example:
  8. 8. Digital Marketing Adoption Level: Messaging  Using specific language and insights for a business location  Using SWOT data, integrating Peers and Competitors  Adds value with each message
  9. 9. Case Study: Prospect Optimization Large North American Home Services Marketplace – Blind Test 1060 leads Digital Marketing Adoption Level Worked Undeveloped Appointment In Progress Sold Awareness 397 96 16 0 0 Understanding 394 111 9 1 5 Positive Perception 243 65 4 1 0 Buy-in 25 6 1 0 0 Participation/Hands-on 1 0 0 0 0 Learnings:  “Understanding” was the most productive segment  “Awareness” was the most COSTLY segment  Experienced Customers needed a more mature product to engage
  10. 10. Concerns with Customer Acquisition Techniques *Worse, its not sustainable
  11. 11. Discussion Topics ‘Culture eats strategy for breakfast.’ - Peter Drucker

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