Conversion in the Funnel = success!

The Funnel Marketing & Sales Funnel The Customer/Personas

& a bit more

@VirtualCMO

@VirtualCMO

TABLE OF CONTENTS

Content

•  The Marketing and Sales Funnel Framework •  TOFU •  MOFU •  BOFU •  Measuring the Funnel

•  Questions Appendix: •  Optimization •  Start at BOFU

•  Customer Centric Framework •  Customer Journey Mapping •  Mini exercise

•  Persona Profiling •  Customer Database (think customer data model not technical DB) •  Funnel Metrics applied to a Marketing Program

Me!

@VirtualCMO

Intro

This is part 2 of multi-part series of frameworks, practical tools, skills and examples of tools to help marketing teams (and organizations) adopt in the digital world. There are plenty of other approaches and some are more 360 customer relationship – we took these approaches as they fit most organizations and cultures we work with or where they are in the adoption curve and are stepping stones towards that 360 degree approach. We focused on the digital funnel for use in marketing. As the say Rome was not built in a day and what is key for us is frameworks for team to be able to work within that are easy and simple to understand and use – we don’t want to Six Sigma our teams into process for the sake of process or lack of innovation. This is part 2 the basic frameworks for a digital (any/all) marketing core competency and team – the focus on being customer centric and taking an outside-in view of the market. Part 1 was an Agile Marketing Framework – view on: •  SlideShare - http://www.slideshare.net/redshane/virtual-cmo-agile-marketingframework-mar-2013

•  LinkedIn - http://www.linkedin.com/profile/view?id=122511&trk=nav_responsive_tab_profile

@VirtualCMO

MARKETeeRiING (Marketing + Other Teams) BUILDS & IMPLEMENTS STUFF [TOOLS – Marketo etc … APPS, ETC.] TO SUPPORT MARKETING & REVENUE GOALS

The Company organizes efforts/resources to reflect the marketing and sales funnel.

The Funnel & Marketing (sales)

TOFU (Top of the Funnel) Builds General Awareness to Attract Visitors / Leads

MOFU (Middle of the Funnel) Turns visitors into leads, Nurtures leads & UpSell

BRAND & BUZZ Generates Brand Awareness

BOFU (Bottom of the Funnel) Turns leads into MQL Deepens Product Awareness Build Sales Support Tools

REVENUE/SALES Converts MQL / Leads Into Customers

What? Awareness

Interest

Intent

Purchase

@VirtualCMO

The Funnel

Awareness

Interest

Intent

Purchase

4 distinct types of interactions or needs driven by customer behavior

Who is socialKO?

Do for Me?

Why socialKO?

Contact Me

TOFU

MOFU

BOFU

REVENUE/SALES/eCOM

@VirtualCMO

TOFU

Awareness

Marketing applies specific focus on:

•  Building general awareness

•  Building brand proposition

•  Attracting visitors/leads to digital channels (& physical)

•  Building communications channels

TOFU

@VirtualCMO

MOFU

Awareness

Interest

Marketing applies specific focus on:

•  Converting visitors into leads

•  Nurturing visitors for when they are ready to engage in the future

•  Nurturing can increase lead optimization by avg. 30%+

TOFU

MOFU

@VirtualCMO

BOFU

Awareness

Interest

Intent

Purchase

Marketing applies specific focus on:

•  Validation for buying •  Deepening product awareness •  Sales Support Tools

•  Turning leads into qualified leads (MQL – Marketing Qualified Lead)

TOFU

MOFU

BOFU

Adobe Digital Marketing Optimization Survey found that a majority of companies (53%) spend less than 5% of their total marketing budgets on optimization activities, despite the fact that a small uplift in conversion rates can translate into thousands of dollars of extra revenue.*

REVENUE/ SALES/eCOM

@VirtualCMO

Measuring the Funnel: sample exec report

9

Awareness

Interest

Intent

CTA

TOFU

MOFU

BOFU

Users $

Jan 2014

Social KO eMail Promo 1 PR

Channel /Tactic

Website Top 10 Articles

Social Share

Reach 800,000 from live

2.5M UV per month

Page Views

390,000

Unique Users

115,000

DB 2500

Of Note 2nd month post beta: §  Website Visits = 50% of <… > & other competitors

§  20% month over month growth §  SEO reach grew from 10 keywords to 68 keywords on Google §  4 organic media coverage (+ Partnership media outreach)

@VirtualCMO

@VirtualCMO

TABLE OF CONTENTS

Appendix

• Optimization

•  Start at BOFU

• Customer Centric Framework

• Customer Journey Mapping

•  Mini exercise

•  Persona Profiling

• Customer Database (think customer data model not technical DB)

•  Funnel Metrics applied to a Marketing Program

Me!

@VirtualCMO

Optimization

Adobe Digital Marketing Optimisation Survey found that a majority of companies (53%) spend less than 5% of their total marketing budgets on optimisation activities, despite the fact that a small uplift in conversion rates can translate into thousands of dollars of extra revenue. • Marketing Funnel •  MOFU and BOFU •  Post CTA •  In the Product (digital/SaaS even physical) •  Motivate the Capture/Share of the “WOW” moments

• Marketing Campaigns •  Test Creative/Concepts •  Refine weekly

• CTA •  Clear Concise •  Just one per “real estate” •  Context = right time, right place, right next step •  Clear options if not ready for certain “buy” type CTA

Start at the BOFU it has xX impact on the Funnel

@VirtualCMO

Customer Centric Framework

CHANNELS: DIGITAL & OFF-LINE

ENGAGEMENT & REVENUE

THE FUNNEL

SocialKO CUSTOMER CENTRIC ORG

CUSTOMERS

@VirtualCMO

Customer Journey Mapping

 Tips to Begin Mapping: •  Clear on what you want, begin with

end in mind •  Know who you are mapping, pick a

generic customer representation •  Talk to cross section, both internally

and externally, customers too! •  Must-haves, critical customers

needs at each step, to move step to step, what “they” think & feel

•  Nice-to-haves, it’s complex and lots of data/insights, weigh this

•  Visualize map clearly when you share

•  Share it, bad and good, close gaps and identify best practices

•  Take action on the map •  Paralysis, Analysis, avoid it. It’s the

key stuff that counts, who they are and what’s important to them!

A customer journey map allows you to walk in “your” customers’ shoes by traveling with them as they interact with your company – full life cycle.

@VirtualCMO

Short Mapping Touch Point Exercise

What are the top 5 offline and online touch points* for <audience persona> for each of the following: awareness, sign up, download app, buy a product and renewal (weight top 5 – 1% to 100%)

Awareness Sign Up on socialKO

Download App

Buy a membership

Renew Refer via Social

Offline 1 2

3

4

5

Online 1 2

3

4

5

@VirtualCMO

Persona Profiling (b2b example)

16

 BACKGROUND: •  Basic details about persona’s role •  Key info about the persona’s company •  Relevant background info, like education

or hobbies, traits …

 DEMOGRAPHICS: •  Company Info (size, $, employees, etc …) •  Person: •  Gender •  Age Range •  Title (where it ranks in company) •  Decisions maker, influencer, blocker, etc …

 IDENTIFIERS: •  Buzz words •  Company Culture •  Leader/Follower

 GOALS: •  Persona’s primary goal •  Persona’s secondary goal •  Personal goals (look good, promote etc …)

 CHALLENGES: •  Primary challenge to persona’s success •  Secondary challenge to persona’s

success •  Personal challenges (have they skillset,

support, buy-in …)

 HOW WE HELP: •  How you solve your persona’s challenges •  How you help your persona achieve goals •  Can you help them personally/career

Conduct interviews with your target audience to learn about their goals and challenges in more detail.

@VirtualCMO

Persona Profiling

 REAL QUOTES: •  Include a few real quotes – taken

during your interviews – that represent your persona well. This will make it easier for employees to relate to and understand your persona.

 COMMON OBJECTIONS: •  Identify the most common

objections your persona will raise during the sales process.

Identifying common objections will help your sales team be better prepared during their conversations.

 MARKETING MESSAGING: •  How should you describe

your solution to your persona?

 ELEVATOR PITCH: •  Make describing your

solution simple and consistent across everyone in your company.

Establishing your messaging prepares your entire organization

to convey the same message.

Including a real

photo from

Creative Commons

or iStockphoto

helps everyone

envision the same

person.

@VirtualCMO

Customer Database: think “customer data model” not tech DB DB) The more robust your customer data model is the more successful marketing teams will be with customer engagement (acquisition and retention) and supporting revenues.

Add as much info to a contact •  Web Analytics •  Targeting Data/Segmentation •  Behaviorial •  Social Media Use a customer database that is easy for all teams to leverage •  Data Input •  Manage Funnels •  Manage Revenue Pipelines •  Reporting •  Personalization There are great plug-ins e.g. •  Social Profiles Make sure your customer database allows for - Import/Export/API for data •  e.g. Marketing Info •  Lead Nurturing events •  eMail activity and integrations •  Product Up/Cross Sell •  CMS •  Ad Serving/Integration •  … Helps to map and connect customer journey

@VirtualCMO

Detailed Funnel Measurement: sample

Awareness

Interest

Intent

CTA

TOFU

MOFU

BOFU

Users &/or $

Social Media eMail Promo 1 PR

FB twitter Instagram Drip Campaign

Valentine

Reach 1.05M 100k 150k 1.2M TBC 2.5M UV per month

Action 1 … likes ..RT .. likes … read

Action 2 … coms .. Fav .. coms … CTR

ConRate ..%

Landing Page

… UV … UV

… UV

… UV

… UV

… UV

ConRate ...%

#down loads

# Users

ConRate ..%

# eCards

# pCards

# cards x $... = Revenue. Simple ROI = Revenue - Costs

@VirtualCMO

Credits where rightfully due

Chris Walker The Million Social CMO (Head of Marketing at the WOOFipedia.com /

AKC.org) who was co-creator and guinea pig, or some of his teams were J

David Skok (Partner/Serial Entrepreneur) Matrix Partners & king of SaaS insights and

metric to drive a SaaS based business, relevant to all businesses.

Mike Volpe (CMO) and the team @ Hubspot who provided the the foresight to drive a form

of Agile and Funnels into Marketing Best Practices

The Marketo team for helping with automation best practices for nurturing the Funnel in

sales and marketing.

Some other teams who helped Chris and I create our versions of Agile Marketing & the

Funnel for Agile Marketing teams, but unnamed for confidentiality reasons

For a copy of the source PPT please email me at shane@social-KO.com for a copy!

@VirtualCMO

Me – a Digital CMO. Strategic - Digital + Mobile + Social + Technology. B2B, B2C & B2B2C markets. Early stage to Mature F500.

Shane Lennon @VirtualCMO SocialKO – Co-Founder

Roles: CMO x4,

CSO, CdMO, SVP Product, Digital,

VP Biz Dev, Corp Dev, Client Services

even CTO

Digital Profile: https://www.vizify.com/virtualcmo

Blog: https://medium.com/@VirtualCMO LinkedIn: http://www.linkedin.com/in/shanelennon

Social Streams:

https://www.rebelmouse.com/CMO/ Fun Blog (tumblr), Google+, Pinterest

Instagram e: shane@atVirtualCMO.com

•  2 Tech Companies Acquired by F500 •  To Oracle •  To Pitney Bowes

•  Scaled 5 Start Ups + Traditional Marketing Teams •  Traditional F500 Mkt Approach to Digital Demand Gen

Engine in 9 months, 3 x ROI, 2x $1M+ multi year sales •  2 Realignments / Re-Orgs + 2 x Digital Transformation •  Top 5 Digital Agency Web1.0

•  AGENCY.COM (pre & post IPO) •  50 Tech/Services Partnerships

•  1st Mobile Stock Trading App •  1st Location Based Mobile Social Network – gypsii

•  3M+ users in 18 months •  B2B2C Ad Campaign Dashboard & Server

•  New Digital Consumer Brand – WOOFipedia (AKC) •  1.3M social media audience •  Mobile UGC App & Digital Media Site •  Marketing Tech Stack (Web+Mobile+CMS+LeadNurture+CRM

+DB) •  eCommerce Edu Gaming & Rewards

•  DUtheMath + Atom Factory Talent Artists •  100,000 Social Media Users in 6 weeks •  55% Website Conversion Rate

•  Digital+Social Greeting Card Industry Disruptor •  Cleverbug

•  Mobile Content/WOM/Social Media B2B2C platforms •  BestBuzz and MyCityWay

•  Digital CMO Workshops & Trend Pieces •  Advised over 10+ start ups (hands off and hands on roles) •  Wearable Tech for Pet Market – Biz Plan funded $2.6M -

WOOFtag