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Archive for the ‘Marketing’ Category

The downside of very high conversion rates

April 13th, 2012

Almost every marketer I talk to wants to know about average conversion rates. And, I presume, they want that info so they can focus on being above average.

While a marketing Lake Wobegon, where all of your conversion rates are above average, sounds tempting on the face of it, let me make a, perhaps, counterintuitive argument …

 

Very high conversion rates are usually not good for your ultimate KPI — profit

And this is one reason why an obsession with average conversion rates can be harmful to your marketing health.

There are two possible downsides to very high conversion rates:

  • You are focusing too much of your marketing efforts on an audience that would buy from you anyway, and not enough on finding new customers
  • You are offering too big of an incentive

  Read more…

Marketing 101: Don’t forget about the “Holy Smokes!”

April 10th, 2012

When you first started in marketing, your first thought might have been — I’m going to create the next “Got Milk,” “Think Different” or “We Can Do It!”

Of course, after a career of KPIs, lead nurturing and discount deadlines, it’s easy to lose that sense of wonder and forget about the power of creativity, or as Jason Falls calls it … the “Holy Smokes!” factor. At the end of this blog post, I’ll show you how one marketer brought that creativity to a campaign that sought to capture children’s attention through learning in an era when video games and Facebook compete for their attention.

But first, let’s explore the “Holy Smokes!”

Several weeks ago, I attended Explore Dallas Fort Worth, a one-day workshop/boot camp on digital marketing that was a great experience both professionally and personally. I recently had the chance to speak with Jason Falls, CEO, Social Media Explorer, and co-host of the Explore event that will occur in five cities across the United States this year.

Jason told me that sometimes marketers lose track of the essential point of marketing — persuading someone to take an action, an idea that ties into my recent blog post about conversion.

He says, “Even in public relations, sometimes you’re trying to persuade a legislature to go a certain way, sometimes you are trying to persuade the general public to have a certain opinion about your company. It’s not always about making someone buy something.”

To accomplish this, Jason suggests taking the “Holy Smokes!” approach for any activity, from writing a speech, to producing a video, to writing ad copy. He says the idea is anytime you are engaged in marketing, you want your audience to consume the message and think, “’holy smoke,’ this message is: incredible, sad, awesome, beautiful, intelligent, informative or some other declarative response.”

Ideally, they will think, “Holy smokes, I have to share that with my friends,” he explains.

  Read more…

Marketing 101: What is conversion?

March 15th, 2012

I recently attended an event on social media for film and video professionals. There were four panelists: two social media experts and two video pros who are very active in using social media to market their work. The crowd ranged from very green on the topic to a few power users.

What stood out to me was that when the questions got started, one of the social media experts went off on a marketing riff and threw out the term “conversion.” A hand immediately shot up and asked, “What is conversion?”

Flat out the best question of the evening.

Sometimes as marketers, we get lost in a sea of acronyms — CRM, SEO, ROI, CTR, etc. — and it only took one word to remind me that not everyone gets all of these references.

To be a truly successful marketer, you want to be as transparent as possible as well as provide clarity. If your message is anywhere in the world of insider esoterica where the audience might be confused, that message is lost. And maybe worse than just ignored, the audience might even feel left out.

 

What is “conversion”?

The definition in the MarketingSherpa glossary that appears in MarketingSherpa handbooks defines conversion as, “The point at which a recipient of a marketing message performs a desired action.” In other words, conversion is simply getting someone to respond to your call-to-action. Read more…

Command-and-Control Marketing vs. Servant-based Marketing

February 28th, 2012

What are we really talking about when we’re discuss cutting-edge marketing topics like mobile, social media and Priority Inbox?

These are just technologies. Zeros and ones dancing around in some magic box in the sky. In this interview with Jim Ducharme, Community Manager, GetResponse, I lay out my argument for where you really should focus your efforts in the year ahead, and it’s not on technology …

 

  Read more…

Email Summit: Brian Solis on the connected consumer and the digitally evolving world

February 16th, 2012

Last week, we held our Email Summit 2012 at Caesars Palace in Las Vegas, where more than 750 of your marketing peers joined us for four days of keynotes, workshops, discussion panels, case study sessions and networking.

Brian Solis, Principal, Altimeter, joined us as one of our three keynote speakers for the Summit.  Brian spoke to the audience about integrating social media with your email marketing to engage a new type of connected customers. After his keynote, Brian took a few minutes to chat with GetResponse Community Manager, Jim Ducharme.

 

 

In this video interview, Brian talks about two main thoughts:

The connected consumer

  • The democratizing of information is creating an empowered and connected consumer
  • Technology simply facilitates to bring about change
  • Success now comes from listening and learning from consumers

 

The “Digital Darwinism” concept

  • When technology and society evolve faster than your ability to adapt
  • Examples of companies fading away because consumer behavior is evolving toward a digital world
  • The connected consumer requires you to design the experiences and outcomes they want in the channels they want

Read more…

Marketing Analytics: What the heck is ‘cross-channel management?’

January 24th, 2012

Technology and language have a strange relationship. Technology pushes the limits of what we can do. Language lags behind, trying to explain what we’ve done.

For example, take “cross-channel management.” Or is it called database integration? Or multi-channel management? Or a unified customer database?

All these phrases strive to describe a similar technology — one in which a company centralizes all its customer data and makes it actionable. The vendors appear to differentiate themselves in their language and their features.

But marketing teams are reaching the limits of their databases and they need more than snappy jargon. They need clarity.

Nearly 90% of email marketers say integrating email data with other data is at least a “somewhat significant” challenge, according to the MarketingSherpa 2012 Email Marketing Benchmark Report, written by W. Jeffrey Rice, Senior Research Analyst, MarketingSherpa. And just last week, we published a case study about a credit union that replaced its database to push its email marketing forward.

To help clarify this topic, I spoke with Kristin Hambelton, VP of Marketing at Neolane. Neolane provides “conversational marketing technology” (which is another phrase you can add to the list).

Read more…

Marketing Campaigns: Dig deep to replicate your successes (and learn from your failures) with marketing and sales enablement case studies

January 6th, 2012

Sales were up 80% in 2011! Congratulations!

Except, well, now you have to repeat that feat in 2012 (or at least hold the line). So, how exactly did you lift sales?

Not only that, but your team is 80% bigger this year, and many of them weren’t even working with you when you initiated many of the changes that got you the big success in the first place (nice hypothetical problem to have, right?). Still, it begs the question …

 

How do your replicate your success?

Or how do you avoid making the same mistakes? Well, first you have to discover why you succeeded and failed. And then you need to spread that new business intelligence throughout your team and your organization.

I recommend forensic reporting. That’s a term I like to use to explain what our reporters do here at MarketingSherpa, and how we write the case studies that appear in our free marketing newsletters. (While our case studies are meant for external consumption, this is something I used to do internally as well for companies like IBM and BEA Systems to spread effective tactics inside the company, so I can see how the same principles apply.)

First, you have to understand these case studies don’t just exist somewhere. Marketers and teams go about their jobs and do various things. From these actions, they bring about successes or failures. But the reasons why and how they did it, which is the case study, is never prepackaged.

As the name “forensics reporting” connotes, you have to investigate and dig pretty deep, because often the entire picture of what led to the success or failure isn’t even immediately obvious to the people that helped make it happen.

Here’s a very simplified, six-step process to get your started …

  Read more…

Most-Tweeted MarketingSherpa Blog Posts of 2011: Top social media tactics, email marketing testing, and more

December 29th, 2011

It’s that time of year again … time to look back and reflect on what we’ve learned. For the MarketingSherpa blog, we wanted to focus that reflection on what you, our readers, valued most in 2011. So we created our top posts list from the number tweets you shared for each post.

And to say social media marketing dominated this year’s most-tweeted Sherpa blog posts would be an understatement. But it’s not surprising marketers have social marketing on the brain as we found more than two-thirds of organizations increased their social marketing expenditures in 2011, according to the MarketingSherpa 2011 Social Marketing Benchmark Report.

Without further ado, here are your top 11 Sherpa blog posts for 2011 along with a brief (140 character of less) description of the post from your peers …

Read more…

Is Your Company Embracing ‘Fear-Based’ or ‘Fear-Less’ Marketing in 2012 and Beyond?

December 22nd, 2011

Does fear rule and dictate your company’s marketing strategy?

Seriously, think about the question for a second because it’s a problem that is prolific around the globe today.

For example, did you know one of the number one reasons why businesses, big and small, elect not to embrace the power of content marketing and social media is because of fear?

Yep, they’re afraid their competition will learn about what they’re doing successfully and copy it.

Sadly, that little bit of fear is what’s keeping businesses around the globe from truly being great at social media.

 

Secret Sauce Doesn’t Exist 

I like to put it this way — As businesses, we’ve got to stop thinking our “secret sauce” is anything more than Thousand Island dressing.

Speaking of “secret sauce,” how many books, case studies, television documentaries, etc. have been produced regarding the business model that is McDonald’s? As you already know, the answer is well into the thousands.

McDonald’s has been poked, prodded and scoured more than any scientific experiment that ever existed. Yet notwithstanding this reality, how many fast-food companies have successfully copied Ray Croc’s masterpiece?

Zero.

None.

Nada.

McDonald’s has no secrets. The business is out there for the world to see, yet no one can successfully mimic the golden arches.

But this little example is simply a single representation of how it works in every industry around the world.

Read more…

Content Marketing: Statistics are not engaging stories

December 20th, 2011

What if I told you 42% of U.S. cell phone owners used their phones to fight boredom? Who cares, right? It’s a factoid. It should pass through one ear and out the other.

But, let me tell you about a completely fictional teenager named Jamal. Jamal wakes up every day at 6:00 a.m. and eats breakfast while checking his phone. He plays Angry Birds on the school bus, and checks his Facebook page in the bathroom during class.

“I use it when I get bored,” Jamal says. “Most of my friends are the same way.”

This little anecdote adds life to the stat. It shows us that 42% is not just a number on a screen. It represents something real.

Read more…