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In today’s marketing world you shouldn’t spend marketing dollars unless you know that they’re working. This class, taught by Charlie Gasmire of Vendevor, will focus on the importance of online marketing, and the effectiveness and efficiency of an online marketing plan. Learn the right way to track, analyze and utilize data that you’re finding through online marketing mechanisms to rebuild and modify plans today, and learn how to create the most effective and optimized marketing plan available. THE TAKEAWAYS - To obtain an understanding of online marketing programs including search marketing, display advertising, site optimization, mobile marketing, and online analytics. - To provide key principles for understanding online analytics and key measurements. - To identify target customers and use online marketing and campaign tools to acquire, convert and retain those customers. - To analyze and review real split tests completed by the Vendevor team to illustrate the tactics, processes, and best practices when split testing your website. - To introduce the components of an effective site optimization program: A/B and multivariate testing, target audience segmentation and data-based personalization for online customer experiences. Charlie Gasmire, Baylor MBA and CMO of Vendevor.com, has been an entrepreneur since selling lemonade and shining shoes at a very early age. He launched and ran four different internet marketing, consumer goods, and lead generation companies before co-founding Vendevor, a shopping cart and payment processing platform for small businesses, in 2012. In his spare time, Charlie is an avid pilot, musician, and triathlete.
Citation preview
YOU & MEWe have something in common
we’re spending money on our business
why? because we think this will happen
We measure the impact of employees
We measure the impact of hardware
We figure out what’s working
So…
?Why are we guessing with online advertising
Our Goal Today
That’s High and To the Right
Online Marketing
WHAT’S THE GOAL?
WHAT’S THE GOAL?
What action do you want people to take?
eCommerce Sales
Free Trial Sign ups
Subscription
Lead Generation / Email List
EverythingGoal determines Everything
XWhatever you do…
$Don’t spend money…
And pray for the best
Imitate
Innovate
before you
?HOW
Research
the competi
tion
http://Alexa.com Provides analytical insights to benchmark, compare and optimize business on the web
http://Compete.com Comprehensive domain reports and traffic sources for competitors
http://WhatRunsWhere.comBanner ad intelligence software - find out where competitors are running display advertisements
http://SpyFu.comKeyword intelligence - research your competitors’ targeted keywords and advertisements
http://KeywordSpy.comSEO and PPC keyword research software tool
http://Ahrefs.comBacklink research tool. Discover what sites link to your competitors.
Look at (and even copy) their website
http://www…
Imitate
Innovate
before you
Starte
r
marketi
ng vert
icals
SEM - Google, Yahoo, Bing
Social - FB, Twitter, LinkedIn
CPA Networks / Affiliates (for another day)
Mobile - AdMob, Millenial Media, Adfonic, Tapjoy
Retargeting - Adroll, Retargeter, Perfect Audience
What action do you want people to take?
What action do you want people to take?
Website that is really, really good at creating
that action
WEBSITE OPTIMIZATION
OPTIMIZE FOR WHAT?
COST PER ACQUISITION
CPA
CPACPA = CPC / CRCost per acquisition = (cost per click) / Conversion Rate
ALL ABOUT THE CPA
Homepage
Step 1
Step 2
Money Step
ALL ABOUT THE CPA
Homepage
Step 1
Step 2
Money Step
$1.00 CPC
ALL ABOUT THE CPA
Homepage
Step 1
Step 2
Money Step
$1.00 CPC
80% drop off
ALL ABOUT THE CPA
Homepage
Step 1
Step 2
Money Step
$1.00 CPC
80% drop off
50% drop off
ALL ABOUT THE CPA
Homepage
Step 1
Step 2
Money Step
$1.00 CPC
80% drop off
50% drop off
80% drop off
CPACPA = CPC / CRCost per acquisition = (cost per click) / Conversion Rate
ALL ABOUT THE CPA
Homepage
Step 1
Step 2
Money Step
$1.00 CPC
80% drop off
50% drop off
80% drop off
End to End: 2% CPA: $50.00
CPA$50.00
WHO CARES?
LTVLIFETIME VALUE
LTV$50.00(for example)
CPA vs.
LTV
LTV > CPAIFF:
Ad
budg
et
LTV < CPAif:
praying for “the best”
disclaimer: initially your CPA > LTV!
Rule of thumb: Optimize CPA down
30-60% generally !
LTV = CPAin our example…
$50 $50
CPAHOW TO LOWER?
A vs. BA/B TESTING
CONCEPTPage A
vs
Page B
Pic
Buy Now
Pic
Buy Now
Buy Now
2% Buy Now 3% Buy Now
CONCEPTWinner from A&B Page C
Pic Buy Now
vs
Pic
Buy Now
Buy Now
3% Buy Now 4% Buy Now
BEFORE
Homepage
Step 1
Step 2
Money Step
$1.00 CPC
80% drop off
50% drop off
80% drop off
End to End: 2% CPA: $50.00
AFTER
Homepage
Step 1
Step 2
Money Step
$1.00 CPC
60% drop off
50% drop off
80% drop off
End to End: 4% CPA: $25.00
CPA$25 VS. $50
LTV > CPAIFF:
$50 $25
Ad
budg
et
SPLIT TESTING TOOLS
WHAT TO TEST?layout background colors free trial credit card up front headlines benefits call to action text call to action button colors and positions what information you ask for and when major images - people asking for info - now or later pricing
ExamplesReal-world split tests
+28% RPVMobile Optimized View With Checkout Call to Action
+13.9% RPVLarger “Add to Cart” Button
Where to spend your time
Heat mapsHeat maps will tell you where people go
Now you know where to spend your time
Other things you (could) measure
tynt.com - copy/paste olark.com - live chat intercom.io - send trigger emails clicktale.com - visitor recordings crazyegg.com - heat maps kissmetrics.com - ultimate user metrics buffer.com - tracking social media engagement
JUST REMEMBER
h"p://youtu.be/r2CbbBLVaPk
The user is drunk
HELPFUL WEBINARS10 Weirdest A/B Split Tests to Increase Conversion Rate:
http://grow.kissmetrics.com/webinar-44-recording !
How To Build the Right Funnel and Grow Your Business http://grow.kissmetrics.com/webinar-45-recording
!The 7 Principles of Conversion Centered Design http://grow.kissmetrics.com/webinar-47-recording
!Unlock the Value of Usage Data
http://grow.kissmetrics.com/webinar-43-recording
HELPFUL CASE STUDIES“The User is Drunk Video”: http://youtu.be/r2CbbBLVaPkPrinciples of Persuasion: http://www.influenceatwork.com/wp-content/uploads/2012/02/E_Brand_principles.pdfLanding Page Optimization: http://Crazyegg.com ; http://tynt.com ; http://clicktale.com ; http://google.com/analytics ; http://intercom.io ; http://optimizely.com ; http://kissmetrics.com37 Signals Split Testing Blog 1: https://signalvnoise.com/posts/2977-behind-the-scenes-highrise-marketing-site-ab-testing-part-1 37 Signals Split Testing Blog 2: https://signalvnoise.com/posts/2983-behind-the-scenes-ab-testing-part-2-how-we-test 37 Signals Split Testing Blog 3: http://signalvnoise.com/posts/2991-behind-the-scenes-ab-testing-part-3-final Split Testing Pricing: http://blog.kissmetrics.com/5-psychological-studies/
eCommerce Split Testing: http://blog.optimizely.com/2014/04/28/ab-tests-that-increase-revenue-per-visitor-for-veggietales-by-38/
Include
in your d
esign
s
Six Principles of Persuasion: Reciprocity Commitment and Consistency Social Proof Authority Liking Scarcity
LAUNCH PLAN
What are you going to split test first? - On your website - In your advertising !
How are you going to measure success? !
How are you going to measure performance? !
When is the next test?
A/B Testing
Vendevor is a next generation eCommerce plugin for any existing website, blog, or Facebook Fan page.
MOBILE APP EXTENSIONSBeautifully DESIGNED
Add products, edit inventory, andmanage your store on the go.
Free Trial
ROUND TWO
39%increase
free trial sign-ups
ROUND THREE
81%increase
free trial sign-ups
REQUIRED FORM
30%increase
optional:
in form completion
processand design
split test
$
PRICING
$
Original Pricing Basic: $9/month Pro: $29/month Enterprise: $79/month
New Pricing Basic: $9/month Pro: $29/month Enterprise: $79/month Executive: $139/month
18%increase
Pro plans:
So…in conclusion
Measuremeasure everything
using easy to use tools
Testtest everything
Readread optimization blogs
LTV > CPAThis is your goal
Ad
budg
et
That’s High and To the Right
Online Marketing
Charlie Gasmire charlie@vendevor.com blog.vendevor.com
Photo Credits
Money Man: http://www.flickr.com/photos/cayusa/2276783536/
Rocket: http://www.flickr.com/photos/stuckincustoms/5896504098
Employee: credit: http://www.flickr.com/photos/ahmedrabea/3252032711/
Apple Computer: http://www.flickr.com/photos/lastquest/1408755246/“Computer Girl: http://www.flickr.com/photos/larskflem/95757299/“
Goal: http://www.flickr.com/photos/corscri/1320198723/“
Business Charts: http://www.flickr.com/photos/safari_vacation/5961260280/Camera Man: http://www.flickr.com/photos/guilherme-pavan/6266943380Gauge: http://www.flickr.com/photos/telstar/5097772126/Welders: http://www.flickr.com/photos/defenceimages/9501747301/
Scroll map: http://i.stack.imgur.com/vRwqe.pngRed diagonal line: http://www.flickr.com/photos/baboon/452245099Beer: http://www.flickr.com/photos/ramyoga/4810372978/Clock: http://www.flickr.com/photos/beth19/4721798240Praying Man: http://www.flickr.com/photos/stuckincustoms/2380543038/
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