95% of your digital marketing spend is wasted. here's how to fix it

Copyright © OpenText Corporation. All rights reserved.

#otew2012

95% of your Digital Marketing spend is wasted. Here’s the solution.

Reinventing marketing strategy.

CEM-100Deb Lavoy@deb_lavoy

The problem

leads

prospects

suspects

customers

deb lavoy @deb_lavoy

THE FUNNEL

The traditional funnel has been the center of marketing and sales strategy for decades.

leads

prospects

suspects

customers


THE FUNNEL

The goal was to “nurture” a “lead” toward a sale. The problem, is that the vast majority of people who enter the funnel are rejected.

leads

prospects

suspects

customers


THE FUNNEL

The funnel isn’t a funnel. it’s a filter. It only lets through a tiny percentage of people who are ready to engage with sales.

6

The people who were interested, but not ready to buy

7

The top of the traditional funnel*

AD

Media Mention

Social Mention

Register now!

*for considered purchases (vs spontaneous)

8

Translation –a sales person will call you. If you are lucky he or she might know what you were reading.

9

99.9% of people who come to this page are not ready or interested in talking to a sales person

10

You are telling them that until they want to talk to a sales person you don’t care about them.

So they go away

leads

prospects

suspects

customers


You work hard and pay $$ to gain their attention. Then let most of them go without a second look.

99%

1%

99%

1%

99%

1%

leads

prospects

suspects

customers


THE FUNNEL

THE FILTERleaves most people behind

99%

1%

99%

1%

99%

1%

leads

prospects

suspects

customers


Do leads that do not instantly convert have no value?

99%

1%

99%

1%

99%

1%

leads

prospects

suspects

customers


Another problem: the fattest part of the funnel is ignored.

99%

1%

99%

1%

99%

1%

awareness

interest

15

The Idea

16

Can we look at the funnel a different way?What if our goal is broader than getting people to buy. What if we also consider reach, building market presence, and an audience for our core messages?

aware

interested

engaged

customer

evaluating

deb lavoy @deb_lavoy productfour.wordpress.com [email protected]

What if instead of filtering, we aggregate?

Instead of discarding those that don’t pass, we want to build some kind of relationship. First, we change to the language form a predatory vocabulary to a service vocabulary

aware

interested

engaged

customer

Now we are aggregating a body of people who are at least somewhat interested in what we say.evaluating

A co

nsta

ntly

gro

win

g re

serv

oir o

f

inte

rest

ed p

eopl

e


What if instead of filtering, we aggregated?

3 things to do with non-converting leads


audience is intensely valuable and hard won. even if you are not the answer to their immediate product or services needs, there was something that they found interesting. Figure it out and build on it.an audience gives you credibility, gravitas, insight, presence in the market (don't blow it)as either your business or their needs evolve, you are ready for one another.build critical mass of awareness and relevanceBe a visible presence in the market


1 Retain them as audience

retain mindshare for future purchasemake that person into a non-customer reference (hey jim, i need to know more about EIM, where would you look?)garner insight


2 Remain relevant

Ensure a seamless path to the next level of engagement so that the people who want to move on do it easily.In other words, you're building different levels of orbit around your biz - an ecosystem of a kind.


3Be there when they’re ready

Think orbits, not funnelsAt each level, our “friends” need something from us.

Us, Inc

them.

pull


Us, Inc

The Market: Be of interest

Acquaintances: Be meaningful

Community: Be valuable

Evaluators: Build confidenceCustomers: Be helpful

Employees: Be Excellent

them.

pull


25

The execution

OK. But how do we do that?(five touchstone activities)

something to say that’s not about your company, your new product, your latest award. What does your market need to know? Care about? Find interesting?

This is the hardest part. This is the culmination of your marketing insight into your customer and your value proposition. What do you have to say that matters?

(talk to me about narrative hierarchies)deb lavoy @deb_lavoy productfour.wordpress.com [email protected]

1 Have something to say

A place (page, site, blog or community) that people will want to visit and revisit find interesting stuff and people – not brochures, or self-aggrandizing propaganda (which isn’t to say you should be invisible).

This will also aggregate your marketing assets so they are not disconnected shots in the dark, but building a library of value. Video galleries, slide galleries, imagery, papers, articles and blogs all play a role here – but its not about you, its about them.

A good destination aggregates both interested people and interesting content


2 A Digital Destination

A simple non-threatening, step a person can take to be involved. A newsletter, a place to add an idea or rating or comment, a place to contribute, a calculator, a widget – something to do that both brings me deeper and sets up a reason to come back. No forcing, the message here is “we are offering value, because we care and respect you- if you find it interesting, join us”


3An easy engagement

Email and/or social almost always plays a role here, in conjunction with a regular program of content that matters – an expert series, a topic series, a monthly discussion…cute kittens, something that asks them to come back again.


4 A reason to come back

A way to go deeper (bonus marks) Every interaction gives them two choices. Maintain the relationship, or deepen it. PROVIDE FOR BOTH.Begin to comment, join the community, upload a photo, contribute a case study, enter a contest, ask a question….


5 A way to go deeper

TRANSACTION

Ad Lead

Out with the old

1%

We’ve got something

interesting going on

Really? Tell me more

person destination

In with the new

relationship

• Every time they visit it’s a meaningful experience.

• Every time they visit they can either maintain or deepen their relationship.

• Every time they visit, you’re setting up their next visit.

The pattern you want to see

35

This creates a pattern that builds and aggregates audience instead of filters

36

Is your buzz just draining away?

37

Fill the pool

Stay in touch

[email protected]

@deb_lavoyProductfour.wordpress.comwww.linkedin.com/in/deblouisonlavoy

mailto:[email protected]

mailto:[email protected]

http://www.linkedin.com/in/deblouisonlavoy



95% of your digital marketing spend is wasted. here's how to fix it

Documents

deb lavoy

debproductfour

easy engagement

sales person

interested

build

building

interesting