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10 strategies for increasing sales with conversion funnels

  1. 1 10 strategies for increasing sales with conversion funnels Dr Dave Chaffey, Co-founder Smart Insights GetResponse webinar: 20th May 2020
  2. 2 Agenda - how can we increase conversion? The ten strategies cover: • Understanding your goals and audiences • Segmenting using dedicated conversion funnels • Ideas and examples for lead magnets and follow-up email comms • Getting creative with our TOFU, MOFU AND BOFU! • Using a data-driven approach using ‘advanced’ Analytics and testing • Demonstration • Q&A
  3. 3 Digital Marketing consultant, trainer and author since 1997. Creator of the RACE planning system. Co-host of the What’s New in Marketing podcast. Co-founder and content director of - a marketing advice community with > ½ million uniques/month. Premium members in over 120 countries use our planning guides, templates and online courses to Plan, Manage and Optimize their digital marketing. About Dave Chaffey and Smart Insights
  4. 4 The RACE planning system funnel Source: Smart Insights digital marketing planning template
  5. 5 Your challenge and opportunity Source: Smart Insights E-commerce conversion rates compilation For non E-commerce businesses, lead generation conversion rates vary between 2.6 and 6.0%
  6. 6 1. Set your goals
  7. 7 Example: conversion funnel steps Source: GetResponse case study
  8. 8 Example: segmented customer journey
  9. 9 2. Understand your audience - personas Details need for an effective persona: • A. Characteristics • B. Motivations and Buyer behaviour • C. Customer journey/ content mapping
  10. 10 3. Select your lead magnet • Brainstorm : Free-Win-Save! • TOFU/MOFU/BOFU • Maintain quality… Source: GetResponse 25 lead magnet ideas TOFU: Whitepaper Spreadsheet Templates MOFU: Video Infographic BOFU: Consultation Demo Calculator/quote
  11. 11 What types of lead magnets work best? Source: GetResponse 2020 Lead Magnet Study
  12. 12 Consumer quiz example
  13. 13 4. Profile your subscribers Minimal : Email and name 2+ ‘Killer profiling fields’ Consider ‘progressive profiling’ Consider lead scoring and grading
  14. 14 Lead scoring – implicit – behaviour based Lead grading – explicit – profile-based Implicit Behavioural Explicit Profile
  15. 15 5. Surface your lead magnets q Home page? Segmented? q Run-of-site? Lightbox vs Static panel? X Seconds vs Exit intent? q Inline copy e.g. blogs q Offsite – social lead gen? q Offsite – influencer marketing: influencers create resources Sidebar panel Inline panel Inline text
  16. 16 Consumer DVP with clear outcomes
  17. 17 6. Define email nurture strategy
  18. 18 B2B Examples
  19. 19 Example nurturing emails that differentiate and encourage action Source
  20. 20 7. Map content funnel PLAN Annual GTM and communications plans based on six pillars REACH Grow awareness using inbound marketing ACT Generate website leads using content assets CONVERT Using offline sales touchpoints with online content support ENGAGE Create loyalty amongst customers GOALS AND MEASUREMENT Improve lead volume, quality, sales velocity and ABM Improve awareness: • Impression share • Unique visitors Improve MQLs: • Database contacts • Lead profile quality Improve SQLs: • Number of pitches and bids Improve retention: • Repeat contracts and renewal size CONTENT AND EXPERIENCE Define content strategy to explain Value Proposition Improve customer journeys Define personas with content mapping TOFU Content: • Demand gen blogs • Infographics • Analyst reports MOFU Content: • Products and solutions pages – co-branded • Landing pages BOFU Content: • TCO business-case whitepapers • Case studies by application/industry • Calculators ROFU content: • Customer support • Community – user groups MEDIA Always-on and campaign-based media plan Editorial calendar Grow reach: • Target keywords • Organic search/social • ABM advertising Convert to lead: • Webinars and roundtables • Ad retargeting • Influencer marketing Nurture to sale: • Ad retargeting • Influencer marketing Engage customers: • Ad retargeting • Social media advocacy CONVERSATION MESSAGING Multichannel contact strategy focusing on email nurture Improve data quality Offline/offsite convos: • Publisher and trade- show emails and ads • Event marketing Initial interactions: • Welcome emails • Website live chat • Website message bots Nurture interactions: • Email nurture and retargeting • Website personalization and • Website message bots Customer interactions: • Onboarding • Newsletter • Website personalization GOVERNANCE Go To Market plan Value proposition narratives. Customize analytics, Dashboard, KPIs. Martech stack • Acquisition plan and budget • Google Analytics lead goals • Contact strategy for lead nurture • Bidding process • CRO plan • Retention plan • Post-campaign review
  21. 21 Review using the content matrices Source: Smart Insights Content marketing matrix
  22. 22 8. Setup ad retargeting
  23. 23 9. AB test your lightboxes and landing page
  24. 24 Our experience = CRO works! Test example from 24
  25. 25 10. Optimize all comms with analytics
  26. 26 Tip: Use Page value to review lead magnets NB. Page value requires E-commerce tracking OR defining Goals for lead magnet funnel conversions in Google Analytics Admin
  27. 27 Reverse path from lead gen page
  28. 28 Prioritizing your tests with PIE • Potential: Uplift? • Importance: Traffic volume, value, quality • Ease: Implementation? Source: CXL: PXL: A Better Way to Prioritize Your A/B Tests
  29. 29 Source: Customer lifecycle guide Summary - Customer lifecycle omnichannel touchpoint review – filling gaps and optimization needed!
  30. 30 Let’s Connect – Questions and discussion welcome!
  31. 31 From strategies to implementation • Demonstration of GetResponse Conversion funnels and Retargeting • Q&A