The MiM 5 Step Process to Harness the Dynamic Power of Internet Marketing

1Thursday, June 24, 2010

Don’t you just love data?Did you know...

• 76.3% of the US population are internet users at the end of 2009.

Sources: Internet World Stats, Nielsen, Facebook

• 46.1 million mobile data users in the U.S. used mobile search functions in the third quarter of 2007 with local listings being the main objective.

• There are currently 461,580 users on Facebook. In Maine.

• There are 236,600 Facebook users within a 25 mile radius of where you are now sitting.

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• A survey of B2B buyers only find relevant content 42% of the time online.

The Bad News.

Sources:DemandGen, Genius.com, Forrester

• The lack of relevant content as perceived by buyers is responsible for reducing the vendor's chance of closing the sale by 45%.

• Web sites not designed with customer goals in mind waste millions in lost revenue and and higher customer support costs.

• Factors that limit a company's ability to boost overall Web site satisfaction scores, include:

• Rising consumer expectations.

• Web site projects that don't actually

address customer needs.

• Failure to follow basic usability standards.

3Thursday, June 24, 2010

The (potentially) Good News

• 95% of recent B2B purchasers said the solution provider they chose “provided them with ample content to help navigate through each stage of the buying process.”

• To satisfy Web site visitors, online customer experience professionals should find and fix known usability flaws, use personas to understand what people really want from their site, design emotionally engaging experiences that go beyond functional design, and begin planning the online experience of the future.

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Some more good news...

Source: Hubspot State of Inbound Marketing Report

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What you can (and should) expect...

• Reduction in customer acquisition cost.

• Increased conversion rates.

• Increase in retention rate.

• Increase of customer lifetime value.

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Is this all just theory?

• 76% reduction in cost-per-lead (CPL)

Client case study: The FeedRoom.

• Increase in conversion rate from .68% to 4.3%

7Thursday, June 24, 2010

A little more about me.Decide for yourself- here’s how:

Read the blog: http://www.minternetmarketing.com/blog/

Have fun Facebook: http://www.facebook.com/carole.mahoney

Follow our thoughts on Twitter: http://twitter.com/minetmarketing

Follow & Connect on LinkedIn: http://www.linkedin.com/in/carolemahoney http://www.linkedin.com/companies/mahoney-internet-

marketing

8Thursday, June 24, 2010

Our agenda• What all businesses have in common.

• How the Internet has shifted marketing tactics.

• Why Internet marketing is still marketing.

• Some Internet marketing basic concepts.

• The purpose behind the MiM process and why it is critical for results.

• The MiM 5 step process for success.• Questions....

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1.All have an ultimate conversion goal (that can be measured).

2.Each conversion requires a series of steps to help visitors achieve that goal.

3.Each has visitor/audience have their own goals and their own ways of accomplishing them.

3 Things that all businesses have in common.

10Thursday, June 24, 2010

The Common Factor between B2B & B2C.

• You are still selling something and trying to persuade someone (or a group of) to take action.

• Both have a sales process.

• Hint: Only you care about the sales process, your potential customers only care about WIIFM.

11Thursday, June 24, 2010

If it looks like a duck, and quacks like a duck....It's still marketing.

Your marketing strategy still needs to address

AIDAS.

• Attention

• Interest

• Desire

• Action

• Satisfaction

Text

12Thursday, June 24, 2010

The landscape has changed.Because the way people buy has changed.

Another challenge, understanding that your online visitors:

• Control their experience

• Are goal oriented

• Are fragmented

• Want a self service environment (that’s why they are online)

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The tactics have shifted.

You are here.

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Starting with some basics.Decide what type of site you have (or want).

How does it fit into your business model, marketing plan, and sales process?

4 types of commercial sites (or a combination of)

1-E-Commerce. Goals: Increase sales, decrease marketing and distribution expense.

2-Content. Goals: Increase readership, level of interest, time on site.

3-Lead-generation. Goals: Increase and segment leads.

4-Self service. Goals: Increase customer satisfaction and decrease support costs.

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The purpose behind the process.

16Thursday, June 24, 2010

It’s not just about marketing...• You are creating a structure that makes testing,

measuring and optimizing on a continuing basis streamlined.

• Makes project management easier and

simpler to follow.

• Helps non-technical people to lead and manage internet marketing.

• Creates a structure that non-experts can operate in.

• Allows organizations to capitalize on strengths while minimizing weaknesses over time.

• Reduces overall marketing expense because you are able to get more from existing traffic.

17Thursday, June 24, 2010

The Process

1. Research

2. Plan

3. Implement

4. Measure & Test

5. Optimize

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1- Research• Determine current business

model and topography. products/service USP, competitors.

• Core Business Value

• Map Selling Process

• Determine Business KPIs

• Customer knowledge, need, risk, consensus.

• Customer information & decision making style.

• Map Buying Process19Thursday, June 24, 2010

The Goal Posts.

Your Sales Process Their Buying Process

Find Prospect Recognition of need (Attention)

Build Rapport Search for Info (Interest)

Qualify Leads Decide Next Step (Desire)

Present Proposal Purchase Decision (Desire)

Close Sale Purchase Decision (Action)

Post- Sales Eval Post- Purchase Eval (Satisfaction)

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Finding just the right spot

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2. Plan• Define Personas, create

narratives

• Determine the tone of copy

• Identify the content strategy needed for the persona

• Identify the tactics to drive into sales funnel

• Wire frame the conversion process.

• Create the site map

• Align the keyword phrases to each page

• Map the points of measurement

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Introducing ...your Customer

23Thursday, June 24, 2010

The Garden is Planned

24Thursday, June 24, 2010

3. Implement

• Create persuasive copy

• Create visual mock up of page levels

• Design in grey scale

• Design in with color

• Create in HTML

• Test!!!!!!

25Thursday, June 24, 2010

The Labor of Love

26Thursday, June 24, 2010

4. Measure & Test

• Establish the new baselines

• Run tests

• Report findings

27Thursday, June 24, 2010

Advanced Metrics for Content & Lead Generation sites

• Reject Rate- Home Page (or other highest entry page

• Reject Rate- All Pages

• Repeat Visitor Share

• Heavy User Share

• Committed Visitor Share

• Committed Visitor Volume

• Visitor Engagement Index

• Scanning Visitor Share

• Scanning Visitor Volume

• Scanning Visitor Index

• Take Rate28Thursday, June 24, 2010

Advanced Metrics for E-Commerce sites

• Conversion Rate

• Average Order Amount (AOA)

• Sales Per Visit (SPV)

• Cost per Order (CPO)

• Cost Per Visit (CPV)

• Order Acquisition Gap (OAG)

• Order Acquisition Ratio (OAR)

• Contribution Per Order (CON)

• Return on Investment (ROI)

29Thursday, June 24, 2010

5-Optimize• Implement updates and

changes as needed from measurement and testing.

• Refine the strategy according to results.

• Invest in the tactics with the highest returns.

• Develop new content as needed.

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Questions?

How does your marketing garden look?

31Thursday, June 24, 2010