Taming the Big Data Beast to Drive More Internet Sales
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Big data is a term that is thrown around quite a bit. But what is it and how can it help you drive more Internet sales from your website? This presentation will break down what metrics to track and how to improve 3 specific areas: driving the right traffic to your website, converting more visitors to leads on your website, and closing more internet leads to sales.
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Taming the Big Data Beast to Drive More Internet Sales
- 1. 1 Taming the Big Data Beast BY: Vickie Gibbs, Founder and GM of Albright Digital May 8, 2013
- 2. What is Big Data? From an IBM research article: Every day, we create 2.5 quintillion* bytes of data — so much that 90% of the data in the world today has been created in the last two years alone. This data comes from everywhere: sensors used to gather climate information, posts to social media sites, digital pictures and videos, purchase transaction records, and cell phone GPS signals to name a few. This data is big data. * 1 Quintillion = 1,000,000,000,000,000,000 = 1018
- 3. What Will You Learn? Drive the Right Traffic to Your Website Convert More Website Visitors to Leads Improve Sales %
- 4. Drive the Right Traffic to Your Website
- 5. www.[dealership].com Website Traffic – Variety of Sources Email Social SEM SEO TV Radio .com Sites
- 6. How To Measure Website and Programs? Website Baseline Key Metrics Measure Traffic and Conversion by Channel Traffic Conv % Time on Site Return Users DirectOrganic Search Paid Search Email AutoTrader Edmunds Cars.com Other .coms
- 7. Analyze Marketing Channels by Attribution and ROI Channels that can be evaluated with Direct Attribution are Direct Response programs Some Channels are difficult to evaluate based on Direct Attribution Direct Organic Search Paid Search Email AutoTrader Edmunds Cars.com Other .coms Direct Attribution: The last marketing trigger that a customer saw before taking action
- 8. How to Analyze Traffic Channels? ROI Sales $ Generated / Marketing $ Invested = Return on Investment (ROI) Paid Search Local Weather.c om Monthly Measurement: • $5k on Google SEM • Driving 20 Leads • 10% Closing Ratio • 2 Sold Cars Monthly Measurement: • $500 on banner ads • Driving 10 Leads • 10% Closing Ratio • 1 Sold Car
- 9. Convert More Website Visitors to Leads
- 10. 2 Keys to Website Conversion • What do users want to do on your site? • Is your site easy to use?Usability • Right Message (CTA) • Right Customer • Right Time Message
- 12. Usability: Focus on Customer Needs and Corporate Priorities
- 13. Usability: Fewer Choices Direct User Behavior
- 14. Usability: Product Pages Should Drive Action
- 15. Usability: VDPs Should Drive Customers to Act
- 16. Copy, Presentation, Timing: All Important Lead Right Message Right User Right Time
- 17. CTA Tied to Traditional Ad Campaign 17
- 18. Target Lease CTA on Offers Page
- 19. Used Vehicles CTA on Used Search Page
- 20. Improve Sales %
- 21. Website Leads – KPIs 10% - 15% Average Website Closing % < > Your website should have the highest closing % of any Internet lead source
- 22. How To Find Potential Issues: Analyze Each Step of Your Funnel 22 Leads Appointments Shows Sales
- 23. What is Right for Your Dealership? Use Data From Your CRM: 1. What is your overall Internet lead sales conversion? 2. What is your Internet lead sales conversion by lead provider (including website)? 3. What is your Internet lead sales conversion for each of your sales people?
- 24. Recap … Drive the Right Traffic to Your Website: ◦ For Direct Response programs, measure ROI by program to optimize your spend Convert More Visitors to Leads: ◦ Usability ◦ Right Message, Right Time, Right Prospect Sell More Internet Leads: ◦ Use CRM data to understand where your funnel can be improved and what progress you are making 24 Vickie Gibbs, Founder and GM, Albright Digital, Booth 222 vgibbs@albrightdigital.com, @AlbrightDigital
Notes de l'éditeur
- First, let’s define “big data” … It’s basically everything … I found an IBM research article that stated that we produce 2.5 quintillion bytes of data … That’s a lot of data … And for y’all specifically you have so many reports and data points that are thrown at you every day … How do you make sense of it all? What is actionable data? What is the right part of the story to pay attention to? That’s what I’m going to talk to you about today….
- Because big data is so BIG, I am going to focus this session around what is going on on your website, and we are going to talk about that sales funnel. I chose to focus here because it is (or should be) a growing part of your business, and it has some very measurable data points that enable you to drive a positive ROI for the money you spend around programs.When you leave this session today, I hope to have given some tools and methods for doing the following 3 things:How to drive the right traffic to your websiteHow to convert more website visitors to leadsHow to improve website sales (or conversion of website leads to sales)
- Let’s first start at the top of the funnel with how do you drive the right traffic to your website …
- So you’ve had a website for awhile now, and over time the number of your visitors has grown. I’m sure you invest not only in your website, but also in programs to drive traffic to your website. These programs are wide and varied, and relate to strictly digital programs as well as traditional media. Ultimately, your website is your best marketing tool for the customer who is sitting at home, so you want to do everything you can to get your prospective customers there. Because as we know, almost all of our customers start their shopping experience online, so we have to sell them there before we get the chance to sell them in the store …. One of our challenges is bc we have all of these different programs driving traffic to our website, how do we know what is working and what isnt’?
- So all of y’all probably have Google Analytics … And you probably have a package from your website provider … And you probably rarely if ever have time to look at these reports if you’re a GM … If you’re an Internet Director/ Manager you probably look at your overall traffic reports, but peeling back the layers of the onion can seem like an arduous task … I’m going to review a few key metrics that you can measure on a regular basis to look at how changing your marketing mix or testing new programs can impact … Before you start testing or evaluating programs, I always tell people to get a baseline … Look at averages over a period of time when you weren’t doing anything new or special and see how these key metrics come out:Overall traffic (visit or UVs … I like to use UVs but pick one and stick with it) – as you introduce new programs or take away programs, you will want to see if there is an overall impact on traffic Average time on site for your user – as you introduce new programs, if you are driving bad traffic to your site, you’ll see this metric drop … For example, paid campaign that is driving users who have an average time on site of < 20s, not good traffic – will lower time on site and increase bounce rate# of return users – if you are introducing new programs to target new users, this number should go down as a % of your overall trafficConversion % (# of users filling out a form, and # of users calling in from phone # on website) – if you introduce new programs or tactics on your site, this should increase (also would see an increase in # of leads as long as traffic remained the same)If you want to evaluate how programs are doing, you will need to look at your traffic and conversion by channel … Most of your website providers and Google Analytics can provide this information if they put a conversion tracker on your lead forms and if you have a special phone number for your website that is distinct from the phone numbers advertised elsewhere. Once again you will want to track a baseline and then as you test programs, look at how these numbers change.
- As we know, the consumers that end up buying vehicles from us are impacted by multiple marketing stimuli … A single person may see one of your TV ads, hear you on the radio, see a post on Facebook, and see a Google paid listing and click through to your site. In measuring marketing programs, it is difficult to see how each of these programs impacts each consumer. However, there are some programs that we can directly measure … These are the direct response programs where there is the customer action can be directly attributed to a specific marketing program. That said, all your branding programs will work to also lift your direct response programs … But when it comes to being able to measure and ensure you are driving the right traffic to your website, you can leverage data to measure and evaluate your direct response programs. These programs are:Paid searchBanner ads and other promotions on .com sites where you can directly drive traffic to your website (also includes retargeting, and ad network promotions)Email marketingOther channels, cannot be tied to direct attribution, so we must look at other parameters to fully evaluate them. This is something I covered in my last presentation at DD13, Stop Drowning in Data, and I have a take away summarizing some of those measurements, which I’d be happy to email folks if you want to give me your card after. These other channels include some car related .com sites (Cars.com, Edmunds, Autotrader) because the $ you spend there drive some traffic, some leads, and offer branding opps … Direct traffic is driven from traditional media as well as repeat website visitors … Organic search is driving by SEO as well as by traditional media, and so on.
- In looking to answer the question – how do I drive the right traffic to my website and how do I turn a positive ROI on my direct response marketing programs, I use a simple formula – Take the Sales $ Generated over the Marketing $ spent and you’ll get your ROI … If this is > 1, you’re making money! If this is less than 1, you need to look at changing the program or eliminating it.
- Customer needs: shop – find what they are looking for, upcoming holiday – find something for MomCorporate priorities: national ad campaign for the new Kindle Fire HD selling against the iPad and other tabletsHow do they know it is working?- Heat maps – Google Analytics and other analytics packages have these – picture of your website with info about what % of users are clicking on what – by looking at this, Amazon will know if more people are clicking on the search button or the browse tabs, and which Mother’s Day promo is being clicked mostAsk about what customers do on a dealership site? Shop, find address, find phone number, search for cars, browse cars, service appt
- Focus customers on shoppingDepends on corp priorities and main focus of your websiteYou have to figure out what is right for you, and then optimize your site to meet those needs
- Key information is above the foldAction buttons below the fold and highlightedPlay with this design to see if it impacts conversion – A/B test forms and layout