MarketingSherpa Blog

You’ve determined if there is any true value in your marketing and you’ve taken the steps to craft your value proposition, when the one looming question hits you – what should I do next?

Turning theory into action was the key focus of Tony Doty, Senior Manager of Optimization, MECLABS, and Lauren Maki, Manager of Optimization, MECLABS, during the Industry Deep Dive session, “Value Proposition: How to turn that shiny, new value prop into a high-performing page,” here at MarketingSherpa and MarketingExperiments Optimization Summit 2013.

“We have a lot of great tools for developing value proposition, but often we find a lot of marketers asking us what to do next and that’s what this is all about,” Tony said.

Today’s MarketingSherpa blog post will feature four questions every marketer should ask themselves about what the next step should be for implementing value proposition development into marketing efforts.

Question #1: Who is my target audience?

Tony and Lauren explained before you think about where you will express your value prop statements, you need to first determine who your audience for that value proposition is and what their needs are.

“We should always craft a value proposition with a customer’s needs in mind,” Tony said.

Question #2: Do I know where my customers are coming from?

Tony also explained once you’ve identified the target audience for your value proposition, you need to understand the channels where your traffic comes from, and adapt your message as needed per channel.

Lauren brought up a good point that customers from different channels have different needs and motivations, so your value proposition placement should be strategic within each channel.

To do this, she explained you first need to identify not just who your target prospect group is, but also where that prospect group is coming from.

“There’s a lot more places than just your homepage for your value proposition,” Lauren explained. “Look at your data to determine if what you’re doing is effective once you’ve started putting your value propositions into place [in those different channels].”

Some of the channels Lauren highlighted in her example are:

• Targeted email campaigns
• PPC campaigns
• Display ads
• Referral sites
• Landing pages
• Product pages
• Informational pages
• Cart checkout
• Social media

Question #3: What do I express in my messaging?

Tony further explained each step of your funnel serves a specific purpose and as prospects make their way through your sales funnel, each step in your sales process the messaging in your marketing should offer more value than the previous step.

Here are a few examples Tony shared on effectively differentiating your message throughout your sales process:

Location: Homepage

Messaging: Briefly introduce your company and direct visitors to the page they need

Location: PPC ad / Display ad

Messaging: Capture attention and elicit a click to get them onto the landing page

Location: Product Page

Messaging: Give prospects enough product information to complete the call-to-action

Location: Checkout

Messaging: Reduce friction and anxiety while providing process level value to get users through the process

“With every step you want them to take, you need to give them something of value for taking that next step,” Tony said.

Question #4: How do you express my value proposition in my messaging?

One final thought Tony and Lauren offered is although a value proposition is designed to be a single statement of value that is supported by evidentials, that is still not enough to sell something to someone – it’s just a good place to start your marketing efforts.

“Ultimately, a value proposition is a guide and not a template,” Lauren said.

Lauren also suggested your value proposition efforts should not be limited just to your copywriting.

“Every element on your page should either state or supports your value proposition directly,” Lauren concluded.

Related Resources:

Value Proposition: A free worksheet to help you win arguments in any meeting

Customer Value: The 4 essential levels of value propositions

The Marketing-Sales Funnel: Gravity is not your friend

Marketing in highly competitive environments can be difficult as pressure mounts to stand out amongst fierce competitors in a space that feels like its constantly shrinking.

So, in today’s MarketingSherpa blog post, you will hear three ideas to inspire you from a MarketingExperiments Web clinic – “Discovering Your Value Proposition: 6 ways to stand out in a crowded marketplace.” Our goal is to share a few simple techniques to differentiate your offers in highly competitive environments and avoid “me too” marketing.

But first, let’s clarify what a value proposition is.

According to the MECLABS Value Proposition Development Online Course, a value proposition is defined as the answer to the question – “If I am your ideal prospect, why should I buy from you rather than your competitors?”

So, how would you answer this question about your offer?

Take a few minutes to brainstorm on how you would answer this question.

Now if what you wrote down read like any of these …

• “We empower you with software solutions.”
• “I don’t sell products and services; I sell results — my guarantee.”
• “We help people find their passion and purpose.”
• “We are the leading [insert your service here] provider.”
• “Get found online.”
• “This site has what the person is looking to find.”

Then, it’s likely your campaigns are underperforming. Here are some techniques you can use to plug some of the leaks in your sales funnel.

Technique #1: Craft offers that focus on your “only-factor”

Your value proposition must include one aspect that differentiates you from your competitors. This one singularity is your “only-factor.” If your value proposition doesn’t do this, you’re already at a disadvantage.

The goal here is to craft offers with a powerful only-factor that will ideally have the right amount of appeal and exclusivity. Offers that are short on either of these elements can result in the following:

• Offers with appeal but not much exclusivity lose appeal in a crowded marketplace with lots of competitors, and choices, for your ideal customer.

• Offers that are exclusive but lack appeal quickly lose their leverage because not enough of those ideal customers will likely be motivated to act on your offer.

Technique #2: Support value propositions with clear evidentials

Evidentials are supporting claims in your offer that can be quantified and verified. To illustrate this point, let’s revisit the hypothetical car dealership owned by our Director of Editorial Content, Daniel Burstein.

Suppose Daniel decides to make a commercial for his dealership and in the ad he says:

“Please visit us at Burstein Auto; we have Florida’s best selection of cars for you to choose from!”

That statement is not very quantifiable because almost anyone can make the claim that they have the “best” of something.

Now if he were to instead say something like this …

“Please visit us at Burstein Auto; our dealership spans across five acres of land with over 1,500 new cars for you to choose from.”

The claims made in the second statement are quantified and have greater credibility because they can be verified. An overall goal for evidentials is to use them as bulleted points of information that support your claims strategically.

Here are a few key questions to ask yourself or your team about your evidentials:

• Is our claim quantifiable?
• Can our claim be verified?

Read more…

One of my favorite proverbs is “Change yourself and you change your fortunes.”

Making changes that increase the bottom line starts with marketers making a commitment to change how they engage customers effectively with their tools at hand.

Tools like customer relationship management (CRM) and marketing automation systems that track user activities allow marketers to leverage behavior insights gained from captured analytics to engage both return customers and potential prospects.

But, according to Jermaine Griggs, Founder, Hear and Play Music and AutomationClinic.com, some marketers fail to put these tools to good use.

“Instead of better understanding ‘who’ or ‘what’ and letting the captured data talk to us, many of us are using CRM to send static time-based follow-ups,” Jermaine said.

Jermaine was a presenter at MarketingSherpa Email Summit 2013, and one of the key takeaways from his session at Summit was a hypothetical litmus test for marketers to self-assess their CRM and marketing automation usage.

Today’s MarketingSherpa blog post will present Jermaine’s litmus test as five questions every marketer should ask themselves about how they use CRMs and marketing automation to drive email campaigns. Our goal is to share peer insights you can use to aid your email marketing efforts.

But first, let’s take a look at a case study that provides a little backstory on how Jermaine discovered he was not using his CRM and marketing automation platform to their full potential.

Jermaine explained Hear and Play underwent a transformation when it started using its CRM and marketing automation platform to focus on personalizing its automated email marketing campaigns. The change resulted in a 416% increase in lifetime customer value and product purchases per customer from an average of 1.5 to 12.46.

“Our transformation came when we stopped using our CRM merely as a glorified autoresponder and started to really harness the power of behavioral and personalized marketing,” Jermaine explained.

Question #1: Do I have email campaign steps users can’t influence?

Jermaine suggested marketers assess their email campaigns using a ratio he calls an S2D score, or static vs. dynamic ratio.

In Jermaine’s S2D ratio:

• Dynamic sends are influenced directly by customer action
• Static sends are steps in a process that are not influenced by any customer action

Jermaine accredited increased use of dynamic sends over static sends as a driver of success in Hear and Play’s email marketing strategy reformation and suggests marketers take the time look at their data and acknowledge past customer behavior.

“It will go a long way, and there is an exponential impact on how customers respond,” Jermaine said.

Read more…

Optimizing form fields in emails can be tricky as sales and marketing departments don’t always agree on how to create an effective lead flow process that captures important customer information while minimizing elements of friction.

So, today’s MarketingSherpa Blog post will share two case studies featured at MarketingSherpa Email Summit 2013 and how one marketing team increased its conversion rate 22% by removing its capture form. Our goal is to share with you some real-world email campaigns you can use to aid your lead generation optimization effort.

First, let’s get some backstory on the role segmentation played in these case studies …

According to Dave Mossop, Manager of Interactive Marketing, Expedia CruiseShipCenters, segmenting between prospects and return customers early on in the campaign was key to allowing the team to offer more relevant content in its messaging.

“We did a very simple split of prospects versus customers and that alone gives you enough information to talk to these audiences very differently,” Dave explained.

By segmenting between prospects and return customers, the team was able to deliver a greater relevance for:

• Price points – Lower for new prospects and higher for return customers
• Itineraries – Specific destinations for new prospects and a broader range of destinations for return customers
• Information – Answer first time cruise information for new prospects and explain the benefit of “Why book with us?”
• Special offers – Exclusive bonus offers for prior customers

“As our team grew, we started going one level deeper by going to customer segments,” Dave explained.

Additional segmentation of past customers allowed the team to:

• Focus messaging, sales offers and itineraries
• Discover upsell and cross sell opportunities
• Prevent down-selling to luxury cruise clients

The team took its segmentation efforts even further by grouping past customers based on previous cruise lines. Expedia CruiseShipCenters discovered past customers were likely to book on the same cruise line again.

By understanding past customer behaviors, the team was also able to:

• Promote cruise line loyalty program offers and exclusives
• Write content from perspective of experience

“We see phenomenal results as we get completely relevant and completely personal with the customer we have this data on,” Dave concluded. “Personalization makes a difference, but who we send to matters even more.”

Read more…

In the MarketingSherpa 2012 Mobile Marketing Benchmark Report (free excerpt at that link), we asked …

Q: How much do you expect your organization’s mobile marketing budget to change from 2012 to 2013?             

Click to enlarge

A combined 71% of respondents said they would see budget increases, with over half of those reporting increases seeing more than 10%.

While this is great news for many marketing teams, it’s also a tough challenge: Mobile is still a new channel with several unknowns. So today’s MarketingSherpa blog post will share our discoveries in the hopes that our findings can aid your strategy planning efforts for the upcoming year.

I sat down with Benjamin Filip, Research Manager, Data Sciences, MECLABS, and a lead data analyst for the report, for a look at what we can learn from the data to help you get the best use of your (hopefully bigger) mobile budget.

“It really depends on what an organization’s goals are,” Benjamin said. “Some factors to consider in planning how to spend a bigger budget are usage, effectiveness and difficulty.”

According to the data below, from the 2012 Mobile Marketing Benchmark Report, when comparing the factors of usage, effectiveness and difficulty, we can find some good opportunities. For example, our respondents reported “Includes video content” as a highly effective tactic that is not very difficult to implement, yet it is not highly utilized.

Read more…

The Internet has a wealth of free, public information that could help you uncover sales leads, get closer access to industry influencers, monitor your competition, and curate news for content marketing.

One way to tap into this wealth of data is with a listening dashboard. At one of the roundtables recently held during the B2B Summit 2012 in Orlando, Nancy Chou, Senior Director of Customer Success, LeadFormix, shared a presentation on how B2B marketers could use social media to generate leads by creating a “listening dashboard.”

What is a “listening dashboard”?

A listening dashboard is ultimately a customer intelligence gathering strategy that consists of collecting and combining together smaller pieces of information to produce a larger and more insightful picture of a given topic, brand or prospect.

Here are some of the benefits Nancy listed that a listening dashboard can offer:

• Hear what people are saying, and uncover sales leads whenever people discuss relevant keywords
• Gain closer access to the industry influencers through the article and blog posts they write
• Monitor your competition, gather sales intelligence and beat your competition by following discussions in real time
• Share fresh news and content from industry thought leaders with prospects and customers

How to set up a listening dashboard

If you’re interested in building your own listening dashboard, Nancy provided four steps for building a listening dashboard for free:

1. Create a list of the RSS feeds you typically read
2. Gather additional newsfeeds on specific keywords using sites like alltop for newsfeeds and technorati or Google blog search to gather blogs written by industry thought leaders or topics of interest
3. Start following influential people on Twitter using search engines like listorious and wefollow that categorize Twitter users by keyword
4. Set up a Google Alerts account to be notified whenever a keyword, industry topic, competitor or thought leader releases new content

The steps above will get you started; however, if you need more sophisticated social media monitoring and tracking services, fee-based tracking tools are available.

Related Resources:

How IntraLinks Used Social Media to Generate Twice as Many Sales-ready Leads as Any Other Channel

B2B Lead Generation: 6 social media tactics from 7 experts

Social Media Marketing: 9 tactics for B2B social channel advertising

B2B Social Marketing: 4 ways to build one-to-one relationships with social influencers

I have small confession to make. Content marketing is fast becoming an industry topic near and dear to my heart. My responsibilities as a content creator for marketers has given me a soft spot for this segment of our audience that I was recently able to indulge during the “Confessions of a Content Marketer” session at the MarketingSherpa B2B Summit 2012 in Orlando, Fla.

The session presenter was Edwin Jensen, Director of Business Development, The Ian Martin Group and he offered a series of short insights dubbed “tips from the marketing trenches.”

So, today’s MarketingSherpa post will present some of the tips Edwin shared in just the way he intended — as “a great blog post for some of you out there.”

Read more…