Marketing Darwinism - by Paul Dunay
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Home
Bio
Books
Press
Speaking
Webinars
Videos
Podcasts
Photos
Awards
Abstracts
Testimonials
  • Home
  • Bio
  • Books
  • Press
  • Speaking
  • Webinars
  • Videos
  • Podcasts
  • Photos
  • Awards
  • Abstracts
  • Testimonials
Marketing Darwinism - by Paul Dunay
Cloud, Exec Interviews, Marketing

Executive Interview with Todd Wells, CMO of award-winning Acumatica

Marketing Darwinism caught up with Marketing Executive Todd Wells, CMO of award-winning Acumatica

Marketing Darwinism: Acumatica- the leader in Cloud ERP.  What is the value proposition of the company and what explains the torrid growth pace?

Todd W: Acumatica does indeed continue to grow at a very substantial pace – and it’s great to see how the product and the value proposition resonates so well with our prospects and customers.  The value prop is centered on three basic promises: superior technology, high value, and unflagging support. That is essentially what we provide to all members of the Acumatica ecosystem, from worldwide OEMs and regional VARs to ISVs, developers, and of course customers. We truly believe it’s our duty and obligation to ensure the success of all those who place their trust in Acumatica.

Marketing Darwinism:  Todd, you were a marketing and data leader at Microsoft and then transitioned to a much smaller company.  As a Marketer, how do you unlearn the “access” to massive budgets and teams and find a more guerrilla footing?

Todd W: I tend to think about it less as unlearning and more about bringing all of my varied experience to bear on the work – whether that is the experience with scale or even in different industries prior.  The scale was certainly different from when I left Microsoft to when I started at Acumatica, but I think that we are now scaling so quickly that much of the work is similar to what I did before with large, global teams.  Meanwhile, of course, you just have to roll up your sleeves and do the work rather than delegate it. Massive budgets often mean you have to get more people involved, and that doesn’t necessarily lead to a better result.

Marketing Darwinism:  Acumatica’s marketing is top-notch and ubiquitous.  How do you approach the marketing mix?

Todd W:  Marketing is directly responsible for a substantive portion of our licensing wins on a quarterly basis – and so no question that our demand generation is focused on those vehicles that are quantitatively proven to drive pipeline – and we continue to dynamically invest and optimize across the entire mix.  But given that we are a challenger in the ERP space – we do have other complementary objectives such as brand awareness – and you will see our presence in airports and other vehicles – even including highly targeted television ads.

Marketing Darwinism: I see that Acumatica Summit is a core piece of your outreach strategy.  What does the Summit/Physical Event offer you that other, “virtual” means cannot?

Todd W:  I do believe that the Summit is an extremely strong community event and one that will continue into the foreseeable future. The way our attendees come together with real enthusiasm is hard to duplicate, it can’t be livestreamed. Virtual events and webinars are certainly a critical component of our marketing mix – and have grown substantially in importance during COVID and quarantine – but yes, as you say, the Acumatica Summit is the seminal event for us and our customers, partners, and industry analysts.  We invest a lot of time and effort to ensure that it is motivating, engaging and informative for all attendees – and we just recently concluded our 2021 Summit at the Wynn Las Vegas – with over 2,500 attendees and record satisfaction levels.

Marketing Darwinism:  Acumatica’s growth one can argue is partner-led.  What are the challenges and opportunities of being a CMO on a channel enablement scenario versus a direct-to-customer scenario?

Todd W:  Acumatica is entirely dedicated to our partner channel – and I like to think about partners as a marketing flywheel driving awareness and demand generation beyond what we can do ourselves.  A critical focus of my team is our partner marketing enablement capabilities through which we can go to market through and with our vast partner ecosystem. A direct-to-customer scenario is certainly more traditional, but leveraging the channel and all of its breadth and expertise can be a very powerful combination.

Marketing Darwinism: What is your advice for young marketers today?  In the tech industry and others?

Todd W: I think that there has probably never been a better time to be in Marketing – the ever changing and progressing capabilities across marketing technologies, the changing dynamics of our lives across work and our personal, etc.  Companies are more and more realizing how critical Marketing is to deliver on business objectives – and we are witnessing a resurgence in the prominence of the role.  There is so much to learn and understand across digital marketing, analytics, customer experience, creative etc these days – my advice is simply to learn as much across as many of these aspects as possible and to be open to any new opportunities to learn – the strongest marketers I work with have a broad spectrum of experiences and knowledge and are able to leverage it to deliver results.

August 25, 2021by Paul Dunay
Buzz Marketing, Content Marketing, Conversational Marketing, Digital Transformation, Interactive Marketing, Lead Generation, Lead Nurturing, Online Testing, Real Time Marketing

Interview with Srivats Srinivasan of Nayamode

I sat down with Srivats Srinivasan, an associate and entrepreneur. Srivats’ company, Nayamode, just acquired a Bay-Area agency called Bluewave. Interesting to see Seattle companies buying Bay Area outfits! I was particularly interested in this because of the role Marketing plays in Digital Transformation- this acquisition was based on Nayamode rounding out its Digital Transformation services.

Some excerpts from the chat …

Marketing Darwinism: Srivats, congratulations on both Nayamode’s success and the recent acquisition of Bluewave. Tell us more about your strategy.

SS: Thanks. We felt strongly that growth and evolution – really our journey to the next phase – required deepening elements of our skill-set as it pertains to the overall rubric of Digital Transformation. In this case, we were enamored with Bluewave’s deep design and visual storytelling track-record and understood that it was a key element in this next phase for us. The strong team and delightful customer base was a wonderful addition too!

Marketing Darwinism: You mentioned Digital Transformation. In your conception, what does it mean exactly?

SS: Yes, we understand that it is a term bandied about, almost in fact too much. In our view, Digital Transformation is about using technology judiciously and in context to create products, processes, and services that enhance and accelerate the best parts of the organization and keep the worst tendencies at bay. Digital Transformation is neither a one-size fits all “thing” nor is it an overnight turn. As with most fundamental shifts, there is a journey required and technology plays only so big a role.

Marketing Darwinism: Nayamode is one of those interesting stories insofar as you’ve grown without really marketing yourself in a broad sense. As Marketers, our readers would love to understand a bit more about your strategy here.

SS: You are no doubt generally correct but we are changing! At the outset, we grew through the sales process, leveraging our connections and experience in Marketing in large organizations, mostly in technology. As we grew, we certainly evolved, but were lucky in that our customers and we created deep partnerships in which as long as we continued to do great work and listen, we remained loyal to each other. Also, we had a bit of the “Cobbler’s Children” problem in which we paid so much attention externally that at times we neglected ourselves. That has changed however. In this phase, very much the most exciting phase in our history as a company, telling our story will be an integral part of the strategy. We are humbled to be included, for instance, in this blog.

Editor’s Note: While in some cases Marketing is an afterthought, we believe that Marketing firms can lead the process of Digital Transformation because of their keen view of the customer and their expertise in pivoting quickly based on business models and customer needs. This traverses the B to B and B to C spaces. We want to hear about other cases of M&A by Marketing companies looking to complete their Digital Transformation portfolios.

April 18, 2018by Paul Dunay
Advertising, Advocates, Artificial Intelligence, Blockchain, Branding, Cause Marketing, Conversion, Conversion Optimization, Customer Experience, Data Mining, Influencer, Innovation, Interactive Marketing, Internet, Lead Generation, Optimization, Reputation Management, Social Media, Strategy, Transformation, User Generated Content

7 Ways Blockchain can Transform Marketing

Here’s a great video of me and Aseem Badshah the CEO of Socedo, a social media lead generation tool, talking about 7 ways Blockchain can transform marketing! We hope you enjoy it …

January 26, 2018by Paul Dunay
Agile Marketing, Business Intelligence, Content Marketing, Conversational Marketing, Innovation, Interactive Marketing, Marketing, ROI, Social Media, Social Networking, Thought Leadership, Transformation

Are Marketers over indexing on ROI and the return of the Marketing Mix?

Two of my very good friends, Romi Mahajan of the KKM Group and Aseem Badshah of Socedo shot a video discussing our most recent blog post on the Return of the Marketing Mix. Ultimately, marketing is a mix of channels, tactics, and bets, of which some are measurable and some are not. It’s time for marketers to reclaim their role as engagers, risk-takers, and experimenters!!

January 16, 2018by Paul Dunay
Advertising, Content Marketing, Conversion Optimization, Customer Experience, Design, Innovation, Interactive Marketing, Internet, Optimization, Web Design

4 Lessons from Responsive Design for CMOs

responsive2

Responsive design brings a variety of benefits – both for brand marketers and the consumers interacting with content across multiple devices. According to data from a December 2012 study conducted by eConsultancy, nearly 70 percent of client-side marketers described their experience level with responsive design as “average” or better, and more than half of that group described their companies as “ahead of the curve” or “state of the art” when it came to the design technique.

As advanced as some brands and in-house digital marketers may believe they are in responsive design, there are still quite a few challenges that optimization experts and digital marketers must heed. Here are some lessons CMOs can use to get strategic in their approach while driving real, impact-filled growth to the bottom line.

Rule #1: Don’t Become Complacent

Since the mobile marketplace is extremely dynamic and the mobile consumer is ever changing, don’t become complacent just because you launched a responsive-design site.  At the beginning of 2013, tablet users were already showing a higher conversion rate than desktop shoppers. Moreover, 20 percent of mobile users use it as their primary device. This means consumers are evolving more quickly than you may think, so closely monitor your analytics. In fact, companies like Gilt have seen a 100 percent increase in mobile users in a single year.

Rule #2: Always Be Refining

Continually develop and refine new design iterations that work seamlessly across multiple screen sizes and functionalities (e.g., touch, swipe). Being immersive is just as important as being intuitive. Pinch, swipe and zoom are features that smartphone and tablet users know and love. In the early days of responsive design, it was said that these were features that couldn’t be tapped into. With today’s more common blend of adaptive and responsive design, we know that this is not the case. Developers have touch-screen-specific controls at their disposal, and customization can be achieved through injection of JavaScript, for example. It’s important to strike the right balance between optimal performance (page-load time) and customization, as the two are interrelated.

Rule #3: Never Stop Testing and Learning

Always be testing and learning with your responsive-design site so that key information and functions are visible, prioritized and accessible to people regardless of what device they are using. Getting shoppers to move through the entire funnel – starting on the home page and moving to key product and landing pages all the way through the checkout process – is no easy feat. Each consumer, be it a first-time visitor or a longtime brand advocate, wants something different and unique from the checkout process. For a big-box apparel retailer, for example, free shipping can prove effective in rewarding high-value customers and cultivating loyalty among a brand’s average customers. This is where testing and learning play an integral role in pinpointing the optimal threshold for free shipping to boost online sales and grow the brand’s market share amid competitors. The data and insights delivered from a test-and-learn strategy could very well disprove brand assumptions and, in turn, generate the type of ROI brands seek such as higher average order value, as well as an increase in purchase conversions and overall revenue. 

Rule #4: Leverage All Data

Even the most basic site analytics can reveal huge potential opportunities.  Incorporating analytics early in the development of a responsive-design site is important. Set your responsive breakpoints you seek to track within your analytics solution and run a report for traffic to specific pages by device type. You’ll be able to glean a wealth of information about which areas of your site are seeing the heaviest tablet traffic, compared to areas with significant upticks in smartphone-only traffic.  You’ll also be able to see which areas produce low traffic or poor conversions. This tactic can help you optimize the customer experience to drive customer engagement, loyalty, conversions and revenue consistently for the long haul.

February 12, 2014by Paul Dunay
Advertising, Behavioral Targeting, Conversion Optimization, Customer Experience, Interactive Marketing, Lead Generation, Online Advertising, Online Testing, Testing

Why CMOs Should Stop Being Addicted to Pay-per-Click Ads

bigstock_Road_To_Recovery_Sign_4438546

Back in 2001, when Google AdWords was just launched, I remember the day that my first pay-per-click (PPC) campaign yielded the first batch of leads for the company I was working for. In all, this tactic generated 42 leads, and a significant portion was even qualified. Better yet, the price was just right, ranging between 15 to 25 cents per click. It seemed like a great tool to grow our website traffic, as well as an effective means for generating unique leads. There was no doubt in my mind we were going to scale this campaign.

Since then, a lot has changed in the PPC world. Now there is a great deal more available in terms of competitive products from other search engines like Bing. You don’t just have an array of search ads; now there are native ads on Google that replicate the search experience, remarketing display ads, mobile ads, Facebook-sponsored ads, sponsored tweets via Twitter and LinkedIn ads. The CMO has fallen in love with performance-based ads like these PPC ad vehicles, mainly because they work (to some extent) and it’s easy to justify a budget for it when a return can be clearly shown to the CFO.

But like any ad, the efficacy of a single ad deteriorates over time because people become numb to repeated exposure to the ad. So the typical reaction is to change the ad around and run it again. But what happens when the efficacy of the ad network declines? The usual approach from marketers is to simply run more ads and spread them out in different places — all in the hopes that they will stick somewhere. But hope and guesswork do not make an effective strategy.

It’s amazing to me that so many enterprise-level CMOs focus on increasing their digital advertising budgets as the first option to increase online engagement. That’s only going to lead to a flawed strategy and less-than-stellar results. Why would you spend a lot of money, resources and staff hours on mobile ads if the online or mobile experience itself frustrates, irks and turns away customers?

What CMOs need to do is focus on creating seamless, easy-to-use-and-navigate, relevant and meaningful experiences for customers, regardless of their device or channel. And that doesn’t mean launching a full redesign of your website with fancy UX architecture, nor does it mean you should put all your mobile eggs into the responsive design basket. It means taking the slow and steady approach to test and tweak every single experience across the entire engagement funnel and using real-time data to power more personalized experiences that meet the individual needs, habits and behaviors of customers.

But before CMOs raise their hands in the air in praise of online testing and personalization, they need to make sure that they’re measuring the right metrics (that really matter for their business). For instance, analyze bounce rates and your average number of page views. These types of insights can tell you a story about your visitors — who they are, what they’re doing, where they’re going within your website or mobile site and what types of actions they’re taking. What if you have a high double-digit bounce rate of 30%, 40% or even 50%? This is what’s commonly known as the “show up and throw up” approach in the Web business. Most likely, you have a low single-digit page view of 1.xx or 2.xx, which is not uncommon. This is where the money is literally falling out of your budget. And that’s not something CMOs can or should take lightly.

Consider taking a piece of your PPC ad budget and instead, put it to good use by testing and optimizing your online experience. I’m not talking about search engine optimization (SEO). What I’m talking about is making every single page a funnel within a website or mobile site optimized and personalized for the actual traffic you are driving to it. For example, if Facebook is driving a certain portion of traffic to your website, are you using all of the data you have about those visitors and combining it with Facebook data to create the most intuitive, relevant and engaging on-site experience to convert “lookers” into purchasers? If a mobile ad is directing smartphone users to your mobile site, have you tested the specific page they’re landing on and optimizing it to drive higher engagement, conversions and cross-channel revenue? If your answer is no, then you have a serious problem.

The reality is that in a world where the consumer reigns supreme, there is an abundance of opportunities for brands to connect, interact with, speak to, engage and convert casual browsers into loyal brand advocates. So it’s high time brands stop running themselves ragged with PPC ads and start putting their attention toward creating a unified customer experience across every single device and channel.

January 15, 2014by Paul Dunay
Behavioral Targeting, Business Intelligence, Conversion Optimization, Customer Experience, Enterprise 2.0, Interactive Marketing, Online Testing, Strategy

6 Tips for Turning Big Data into Great Customer Experiences

Highway Signpost "Big Data"

The phenomenon of big data certainly comes with big promise. After all, having terabytes of data on customer history and behavior is certainly better than trying to extrapolate from just a few data points.

For sure, online marketers who make sense of big data are going to be better able to build customer experiences around hard data and evidence rather than on hunches and guesswork. Instead of working on intuition, or crude analytics, you could use definitive evidence to design product pages that lure your best customers directly toward the shopping cart. You’d know exactly when to introduce your promotions and offers, and you’d know which promotion would work best with each particular customer. You could optimize your online interface, so that everything from search to registration to “Place Order” was virtually friction-free.

Getting to that point, however, requires first harnessing the data. It is no small feat to integrate huge amounts of data from a variety of sources. It is even trickier to figure out exactly how to translate that information into more visits and fuller shopping carts—in real time, customer by customer.

The good news is, there are technologies and tools that make it much easier to find the gold hidden in the data—and use it to refine your online marketing with laser precision. But there’s a mind-set at work here, too—a way of thinking about data that may involve some shifts in culture, depending on where your organization is right now.

Having worked with a number of online marketers who needed to tame big data, here are six steps to help you get there:

1) Think continuous evolution and iteration, not instantaneous.

Yes, big data can fundamentally shift the way you do business. But don’t try to change everything at once. It’s far more productive to adopt a “test and learn” philosophy. Two dozen incremental improvements in site design or wording or personalization can get you much further than trying to “innovate” in one fell swoop. We see this every day.

The most successful marketers are optimizing and refining all the time. They steadily move ahead, with a thousand baby steps, finding something to improve almost every day.

Note: This tactic may call for some adjustments to Web development processes. The most agile marketers can typically go “live” with tweaks, adjustments or tests in a matter of hours. (Slow marketers wait for the next release. Don’t do that.)

2) Align big data goals with your individual business goals.

Create separate initiatives or projects for each of your business goals, such as acquiring new customers, boosting conversion rates, improving customer loyalty or increasing lifetime customer value. This approach makes it much easier to determine what type of data to reel in, and exactly how to use it. Focus a team or a project on one objective at a time.

3) Sell the concept internally.

In some organizations, moving toward data-driven, evidence-based marketing may call for some extra communication to get everyone on board:

  • Encourage knowledge sharing, continual learning. Let everyone know what you found out.
  • Simplify everything. Present data and outcomes in easy-to-understand terms that managers can use to make decisions. Use pictures and graphs.
  • Communicate plans and achievements across the organization. Don’t hide results.

 4) Create one team for big data.

You will need to include marketing strategists, analytics gurus and Web developers. And especially creatives, who may sometimes feel threatened or hampered by having to work with hard evidence.

Then integrate with those responsible for e-commerce and site optimization. No silos allowed.

Find a committed, obsessed, dedicated executive to drive the process and act as a focus for future customer experience innovations.

5) Your own data is best. By far.

The real-time data that your website and CRM systems are gathering is far more valuable than anything you can obtain from an outside vendor. Because it’s about your own living, breathing customers, it is data that your competitors don’t have. Advantage, you.

Examples of the typical aggregate data you can capitalize on in a big data strategy:

  • Acquisition source
  • Geography
  • Interaction behavior
  • Transaction behavior
  • Recency of visits
  • Frequency of visits
  • Social attributes
  • Form inputs
  • Conversion rates
  • Conversion values by product or category interests
  • Channel/device

6) Aim for real-time optimization, customer by customer.

For most marketers, the goal should be to make in-session decisions as to what customers should see, what offers you recommend and what you say to them.

Craft a custom experience for each visitor, and they’ll buy more.

Do all of this, and they’ll be back.

This article was originally published on iMedia Connection

May 29, 2013by Paul Dunay
Behavioral Targeting, Personalization

Why Digital Marketers Need to Get More Personal

What does personalization really mean? You’ll be forgiven if you have absolutely no idea. As trendy catchwords go, “personalization” has become a go-to term for websites and online marketers, laden with all the possibilities of connecting with individual consumers and a departure from the limitations of a one-size-fits-all approach.

Nearly every online marketing vendor touts some form of personalization as the secret sauce for helping to target customers.

It makes sense. The potential of personalized online marketing, when done well, is enormous—and for that reason, it’s a compelling sell. The problem is, it hasn’t been done successfully thus far. And thanks to vendor hype and overpromise, just mention the word “personalization,” and most have learned to greet it with a healthy dose of skepticism.

But personalization isn’t just marketing hype. It’s a complex concept that really can live up to its billing. However, retailers, in tandem with their marketing vendors, must first identify what personalization really means—and what it means to their business and target customers.

Furthermore, when it comes to their websites, mobile sites, apps and CRM platforms, major e-commerce players need to realize that only through a customized combination of multivariate testing, optimization and personalization best practices can they truly begin to reach consumers with personalization that is effective and full of impact. There are no easy answers or instant solutions for creating personalization that works. It’s about evolution rather than revolution.

Defining Personalization

A truly personalized customer experience—what amounts to a custom website for every consumer—has been the Holy Grail of marketing for over a decade. Yet the very concept is conflicted, fragmented and confusing. Ask 10 marketers to define personalization and you’ll get 10 answers. You’ll also find that despite all the hype, the bar has been set low; most of these same marketers are hoping for nothing more than a few product recommendations or more effective targeting.

Even the experts don’t give us a whole lot of direction on personalization. According to Forrester, Web personalization is “creating experiences on websites or through interactive media that are unique to individuals or segments of consumers.” Just about as vague as every other definition.

In reality, every specific piece of information you can gain about your customer—from search information to online behavior and purchases—can be used to create a personalized experience. That means that your approach to personalization can be as simple (using one or two collected insights) or complex (a detailed formula based on multiple insights) as you want it to be.

With the right combination of technology, research and testing, e-commerce businesses can now deliver a personalized online experience that far exceeds anything that can be delivered in store—short of hiring a dedicated personal shopper. With the right personalization strategy and tools, companies can create an online equivalent of a brick-and-mortar store, where anything a consumer might want is located in a single aisle.

Technology Is So Personal

It goes without saying that your marketing team is comprised of geniuses, but a lack of imagination—and technology—may be limiting their vision when it comes to personalization.

Yes, they’ve thought about segmentation, recommendations and retargeting, but these techniques are only a fraction of what technology now allows. New sophisticated real-time automated SaaS solutions empower marketers to create personalized experiences that far exceed what was previously possible. With SaaS solutions working in tandem with strategy and implementation, companies can begin to move toward complex forms of personalization—and achieve online what is already being done offline with propensity modeling and other business analytics.

Really, knowing about low-cost SaaS solutions—and how to use them to take advantage of opportunity—might just be the most significant indicator of marketing genius.

Getting Started with Personalization

Once the right technology is in place, one of the best ways to employ personalization is with a set of “rules” that define parameters. These rules establish conditions for a specific visitor experience; for every insight gleaned, you create a more and more personalized experience.

Of course, rules don’t exist in a vacuum. When defining them, you must take into account known consumer behaviors, including the various stages that shoppers go through when making any kind of purchase and the fact that they may visit your site several times before actually pulling the “buy now” trigger. While this knowledge might seem to complicate your rules in the immediate term, it can be used to your advantage.

Sure, go ahead and create rules for first-time visitors, but you can and should also devise more complicated formulas that incorporate insights and data from previous visits and apply them to future visits. So, for example, retarget repeat visitors based on the last product they searched for during their last visit. This rule path can then be enhanced with complementary content or offerings, whether for discount on the searched product or an up-sell on similar items. It’s personalization that gives customers what they want and shows them that you value them—a must for creating relationships and loyalty online.

Keep in mind, however, that while targeting with rules is effective and often a great place to start, it does have its limitations.

Marketers will find it nearly impossible to manually define rules for expansive websites that have vast and diverse daily traffic. In this case, technology needs to be partnered with sophisticated behavioral targeting through mathematical models that enable you to predict the most compelling content and offers based on known insights and data points about each visitor. This type of model learns and adjusts dynamically over time to optimize visitor experiences with content that yields the highest conversion rate. This approach is also better for the broader range of content (product types, specific brands or destinations) that each individual receives based on unique predictive attributes.

Using Product Recommendations the Right Way

Want to see great personalization in action? Amazon continues to set the gold standard for best practices in personalization. The site has an unparalleled ability to recognize and deftly exploit consumers’ online browsing and buying habits. (Of course, it also has the advantage of customer interactions living entirely online, while most retailers have offline presences that dilute their ability to gather insights.)

Because of Amazon’s clear success, almost every major e-commerce site has taken steps to mimic Amazon’s highly successful interactions with returning customers. (“You were interested in XYZ, so you may enjoy ABC,” etc.)

But that doesn’t mean they’re getting it right. Everything from competing recommendations (you want shoppers to buy more, not different) or recommendations for products that are out of stock to a lack of testing and product reviews means that many recommendation programs are falling flat or, even worse, are counterproductive.

To offer successful personalization through recommendation, focus on the essential elements.  Product recommendations should be placed on category pages, product pages and the shopping cart or basket page, with each page type getting its own recommendation formula and approach. This approach allows for more targeted recommendations and for segmented testing and optimization of recommendations. Recommendation content, placement on the page and the design of a promotion all play a role in the success of recommendations. Segmenting and measuring the conversion impact of every detail (e.g., images, fonts, colors, the number of recommended products, the placement on pages, and the recommendation model used) can help you identify the approach that yields the highest conversion rates for your visitors.

With a program for monitoring and improving recommendations, you improve the shopping experience for each customer—and potentially increase revenue and cart sizes.

Maximizing the Opportunity  

Companies that have already successfully leveraged new SaaS solutions along with optimization and personalization strategies have achieved, on average, a double-digit increase in conversions. And with these programs becoming more common, consumers are going to be expecting a sophisticated level of personalization.

The good news is that with the SaaS-based model, companies can have personalization programs up and running immediately. Add in multichannel data from call centers and stores or branches, and they can create an organization-wide, cross-channel approach to personalization within a quarter.

There is no doubt that, after years of hype and hyperbole, we’ve finally found the holy grail of online marketing: Personalization.

November 14, 2012by Paul Dunay
Conversion, Conversion Optimization

Four Ways to Evolve Your Online Conversions

When you think about it, the Darwinian idea of evolution is not a far cry from the way we as marketers adapt and change to new technology. With new ways of selling, new channels for promoting a brand and new ways of engaging customers, we’re constantly evolving to stay ahead of the game. And now in the era of rock-solid online competition, we have to evolve even further and ask ourselves: What does it take to lead the online conversion movement?

When it comes to our online strategies, it’s easier than ever to use data-driven, scientific tools to inform ourselves about what is really making our customers click. Through an iterative process of testing and personalization, your online visitors will begin to unknowingly select the best-performing content for your site. And the weaker content should become extinct with all the other not-so-great content choices that have cycled through your site. But in the end, the strong content survives, and in turn produces a web environment that pays off: better customer experiences and higher conversion rates.

1. Learn from those who are bigger, faster and stronger
When it comes to site optimization, the fittest brands aren’t just surviving—they’re thriving. Leading retailers have realized that the deep analytics and insights gained from testing with online customers is not only improving the efficiency and effectiveness of their e-commerce site, but several other aspects of their businesses as well. By having a better understanding than ever before of who their customers are, how they buy, when they buy and what they buy, businesses are now able to do everything better. For example, they can offer experiences more suited to customer needs and wants, they can cross-sell and upsell in-store, online, on mobile, on tablets, even in social, and they can drive more sales than ever before (which they figured out via constant, but relatively straightforward, changes to these sites).

2. Test your theory
Want to know the secrets of the most successful online retailing giants, eBay and Amazon? They test their websites constantly and as they go. Building on initial multivariate testing and website optimization programs that lead to increased site traffic, interaction and sales, those leaders roll out a variety of page and site variants to different customer segments to attain increasingly nuanced results and metrics.

Thanks to a continually evolving understanding of their customers’ behaviors, those powerful brands are able to regularly improve their websites in response to consumer needs and marketplace demands—all without disturbing the customer experience or implementing drastic changes that might compromise revenues.

3. Examine outliers
Online, everyone’s opinion matters—no matter how unexpected or seemingly bizarre an opinion might be. What you think customers want or how you think they should interact with your site just isn’t relevant because they will engage with you online exactly the way they want. That means that you need to start paying careful attention to everything they do. Ultimately, your visitors should design your website based on the choices they make on your pages. Testing will enable you to follow every aspect of their behavior and their interactions with your site, and it’s up to you to take that information into account to create the optimal site experience for your visitor.

Of course, customers don’t necessarily want the same things, and that’s where behavioral targeting and personalization comes in. With personalized web experiences for each customer, your website, mobile, tablet and social sites have the power to speak directly to individual customer needs, wants and interests—no matter how unique—thereby increasing customer loyalty, individual conversion rates and even purchases at checkout.

4. Select the best results, and apply your findings
Thanks to today’s cloud-based technology, you don’t need to wait thousands of years for the winning traits of your site to be revealed. Your testing efforts will begin to reveal data insights in a matter of days or weeks (though the lifespan of a test will vary depending on site traffic, conversion rate and uplift from the default).

Follow the 95% confidence rule when ending a test and identifying a “winner.” Here is the rule in layman’s terms: Based on what you observe in a test, you are 95 percent certain that the alternate or new version is better than the original.

Furthermore, that trait-selection process isn’t a one-off. Your site can be an ever- expanding and evolving centerpiece of your brand with a strategy for “continuous optimization.” Many factors can change how even your most loyal customers use your site, such as holiday seasons, promotions or just a maturing buying life cycle. With continual testing and optimization, you can ensure that your site is always in sync with consumer needs and behaviors.

***

Take it from Charles Darwin, the man who has been quoted as saying, “It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change.” The success of your e-commerce site isn’t driven by the size or cleverness of your marketing team; it’s driven by your team’s willingness to respond to the demands of customers and adjust accordingly. Only when you evolve will your consumers evolve into loyal, active buyers.

November 7, 2012by Paul Dunay
Commerce, Customer, Facebook

10 Reasons Brands Fail to Convert Facebook Fans into Paying Customers

According to HubSpot, ninety three percent of adults on the Internet are on Facebook, yet only 1% of a brand’s Facebook fans will ever make their way to the company’s main website. Many blame their low conversion rates on Facebook: “Facebook ads don’t work.” “I have a ton of likes but it doesn’t mean anything because I’m not making money.” “I keep posting things but I’m not getting many views.” Few, however, look to their own efforts for answers. And even fewer put a strategy in place to convert this highly active audience into highly engaged website visitors.

Upon learning these statistics, we did a little—actually, a lot—of digging to find out who/what is actually to blame for these disproportionately low conversion rates. We know, after all, that Facebook users are a highly active and engaged audience. So, why aren’t brands able to capitalize on that? It simply can’t be Facebook’s fault…

Below are the 10 most common reasons brands aren’t getting enough love from Facebook users, along with recommendations for better using the tools at their disposal. (In order to determine which methods work best, try them out and then test each one using the same online testing methods you use to measure your brand website’s effectiveness.)

1. Failure to Get Past the First Step

Most fans won’t ever come back to a brand’s page unless they feel they have good reason to. This is not totally different from how they interact with their friends’ pages when you think about it. Unless the new friend has great content to go back to, there’s not much of a reason to go directly to their page very often, if at all.

What does this mean for marketers? It means they’ve got to use that first “viewing” wisely, offering immediate and easy ways to engage visitors further upfront:

  • Email list
  • Blog subscription
  • Gift download

Test: The various methods listed above to determine which ones actually have a positive impact on conversion rates.

2. Poor Text and Visuals

A successful Facebook page must have concise, engaging text that’s relevant to both the brand and the fans’ interests. Overly long, humdrum copy will fail to capture fans’ attention. Crisp, eye-catching, hi-resolution visuals (photos, videos, illustrations) that clearly speak to those things visitors like about the brand in the first place, will draw them in for more.

Test: Copy length and content; image quality and subject matter.

3. Stagnant Page Content

If fans stop by more than once only to find the same old Facebook page, they might assume the page is outdated—or worse, abandoned. It’s important for marketers to give fans new ways to connect and advance their relationship with the brand or product being promoted. Keep to a consistent schedule with fresh content and ever-improving offers, using the results from the testing mentioned above.

Test: Update frequency.

4. Inconsistent or Sloppy Branding

If there’s no stylistic connection between a company’s Facebook page and its main website, visitors may not trust that the page is legit. Brands often spend a disproportionate amount of time, money and effort on website branding efforts, in comparison to the relative pittance reserved for complementary Facebook efforts. Keep branding consistent across all channels, so that visitors know exactly where they’re going and whom they’re dealing with.

Test: logo variations, cover photo options, and other brand elements.

5. Confused Calls-to-Action

Once fans arrive at a brand’s Facebook page, they should have a clear idea of what to do and what’s available to them. Offers and calls-to-action should be prominently displayed, and any associated instructions should be easy to follow. Be aware, however, that Facebook has guidelines concerning calls-to-actions, offers and anything else resembling blatant advertising on company pages, so it’s important to make sure you’re current on usage guidelines.

Test: Calls-to-Action and offer variations—in terms of design style, content, placement, and ease-of-use, to see which combos bring the most fans.

6. Too Many Clicks

People are impatient—especially on the Internet—and want immediate gratification. If visitors have to jump through too many hoops or fill out too many forms in order to get what they want, they’re likely to click away. Make sure the desired destination can be reached in the fewest amount of clicks possible. Also, if there are forms to fill out, keep them short and simple.

Test: length of forms, number of required fields, number of clicks necessary to get to target content.

7. Mystery Visitors

One of the most important aspects of Facebook marketing is finding out who’s using it to access the company website. Anything in a fan’s Facebook profile—age, gender, location, name, relationship status, “Likes,” and more—can be captured, depending on the level of authorization granted by that fan. With the right tools, marketers can compile user profiles using that authorized data as well as previous site behaviors, to get a better sense of the users they’re reaching on Facebook. Those profiles can then be tested to see what offers, content and/or experiences are most effective in attracting fans, “Likes”, website traffic or any other relevant conversion metric—as well as applied to other marketing efforts.

8. Preconceived Notions

As excited as marketers may get about shiny new objects—especially social media objects—they‘re often reluctant to spend money on developing new efforts for them. Dipping your toes in too slowly, however, can be ineffective. Once you’ve decided to “do” Facebook, you may as well do it right. Step out of your comfort zone and try new efforts for specific customer segments. An even crazier idea—consider developing Facebook-specific campaigns rather than repurposing ones created with a different platform in mind.

Test: Campaign effectiveness in terms of user receptivity by various demographics—age, location, interests—to gauge interest from potential untapped markets.

9. Ineffective Plugin Use

If Facebook plugins aren’t integrated into the main company site, a great deal of potential traffic—and revenue—is being lost. Plugin tools turn consumers into brand advocates, making it easy to share site information with Facebook friends. Some examples of plugins are:

  • “Like” button: lets visitors share main site pages back to their Facebook profile with one click.
  • “Like” box: enables visitors to “Like” the company’s Facebook page and directly view its stream from the brand site.
  • Recommendations: gives personalized suggestions for pages on the main site visitors might like, based on what other people are sharing.
  • Comment box: allows comments on any site content, such as a webpage, article, or photo. The visitor can share their comment on Facebook by posting it to their wall and their friends’ streams.

Test: Plugin types and the effectiveness of each for meeting your program goals.

10. Sticking to Stand-alone Metrics

Getting just one side of the story isn’t enough. Marketing programs need to be set up so that Facebook stats and user profiles are fully integrated with all other online and offline shopping channel information to create rich, detailed, and fully comprehensive user profiles. Profile reports should be updated on a regular basis, so the most recent user information is always available.

With the proper attention to detail and willingness to dedicate the same energy to Facebook efforts as they do to other initiatives, online marketers will no doubt find that their 1% conversion rate is something they can control. And that it’s not Facebook’s fault their customers aren’t more engaged.

October 3, 2012by Paul Dunay
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Welcome to my blog, my name is Paul Dunay and I lead Red Hat's Financial Services Marketing team Globally, I am also a Certified Professional Coach, Author and Award-Winning B2B Marketing Expert. Any views expressed are my own.

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