1 "am i meeting my goals?" a study in accountability - conversion as a process southeast...
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"Am I Meeting My Goals?" A Study in Accountability - Conversion as a Process
Southeast Tourism Society
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Darryl WilsonPOP Class [email protected] Tourism Society
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Conversion…
Maximizing the value of marketing and research
Jack C. Yagerfor the Southeast Tourism Society
August 12, 2009
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Background
Marketer viewing research Direction Priority
Researcher viewing marketing Measurement Significance
Dispersion versus Clustering
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Conversion
Conversion = Success Converting = Action Conversive = Viability Converts = Transformation Conversing = Conversion
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Three dimensions of conversion
Time (when) Image (why) Action (what, how, who, where)
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How our brains convert
Right vs left Emotion and imagery Logic and attributes
Front vs back Processing Action
Conversion requires us to reach all four “corners”
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Conversion as a process
From “never heard of you” to “advocate” Incidences along the “road” Dimensions of time
Urgency/ NOW Priority
Dimensions of image Tuned Relevancy
Search for “sparks”
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The guiding force
Conversion as a guiding internal force in your decision-making
Is what I’m tracking going to: Move me faster to a “sale” Move me closer to the prospect Make me more efficient
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Conversion research begins with the ending
Critical factors What decisions are to be made What information is necessary How do I get that information How do I track that information over
time How do I make it information
Management attribute studies
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Pitfalls and Potholes
Avoiding over-spin Too much data Missing the point Simplify What’s the cost/ what’s the benefit/
what’s the value (branding comparison)
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Collecting information
Database of prospect information Database of guest research Tracking activity
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Metrics
Click through Time spent Target actions Retention Inquiries Micro-inquiries Visits Planned visits Financials/ ROI
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Search vs Re-search
Discovery methods Listen Strat planning Research by objectives Six sigma Open page Visual perspectives
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Drive down, around and up
Persona and core segmentation research Inside and outside data Demos, attitudes and interests, actions,
media, participation Analysis down to lowest level of significance Integration into outside sources (media) Build back up into personas Use personas for planning, strategy,
promotion, product, media, messaging
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Social marketing
Have a business strategy behind your social media tactics to drive real business SEO/SEM Website Online media Database Response Learn the technology Test/ avoid your own preferences Predictive modeling
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$’s and #’s
ROI and accountability Goal = Revenue per marketing dollar Intermediaries = Revenue per visitor Revenue per inquiry Per media source Per campaign/ per event/ per activity Action per dollar
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Knowledge builders
Areas of study Dollars spent Number of responses Number of visitors (actual/ potential/ long-term) Evaluation Likelihood/ timing of visiting/ revisiting Spending/ activities Group size
Value multipliers Long tail, big head
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Time as a conversion tool
Sooner better than later Fast = less cost The frequency multiplier effect
Reverse compound interest 1000 people * 110% = 1100 first year 1100 people * 110% = 1210 second year In 5 years = 1611 people = 61% increase
Seasonality Maintain price position
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Conversion checklist
Do I have a database (with emails) Do I know how much each one is worth Do I know why they might act Do I know who is acting when Do I know why each might act sooner Do I know what gives me volume Do I know what extends my reach Do I know what gives me frequency (sooner) Do I know what pays off
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Before you worry about conversion
Get your brand right first Then get a great strategy Then get someone to create the
messaging Then reach out, grab tight and bring
them in
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Conversion strategies
Convert people in the area to visitors(Business, medical, education, sports)
Convert residents to ambassadors Convert features to benefits Convert once to twice Convert low to high priority
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Expanding your point of view
Sense of urgency Blue ocean strategy Avoid the elephant fight Above and below the line
