If your billing software is guilty of any of these transgressions, if might be time to change things up.
We collaborated with Justin Wagner at Adfinitely on this post. Adfinitely is an Atlanta-based company that provides marketing technology to multi-location businesses.
Are you wanting to track ROI on your PPC spend beyond form fills and downloads? Most of today’s leading PPC agencies are using call tracking to track offline leads and conversions. Fill out the form below to uncover the PPC secrets that helped one agency increase call conversions for their client by 400%.
So you’ve done your research, and it looks like there are some reasonably priced keywords for your product along with a good handful of people searching for those keywords each month. The next step is to take a look at your products, customers, and site analytics. For some businesses, looking at products means average order size. For others, it might mean lifetime customer value. The takeaway here is you need to know the value of driving one potential customer to your website, whether it’s $30 or $3,000.
Next, you want to look at your site analytics to determine your conversion rates, or the rate at which people are turning into customers. How often does a new site visitor become a customer or purchase your products? The higher the rate of purchase, and the higher the ticket price on an individual sale, the more we can afford to spend on driving traffic to the site.
For example, if we know the average order size on our website is $100, clicks are roughly $1, and our conversion rate is 2%, then for every 50 people we get to the site, one will make a purchase. This leaves our profit for those 50 clicks at $50, if we already have our margin baked into average order size. But if we can bump our conversion rate up to 7%, we get 3.5 purchases on average for $350 in total sales, equalling $300 in profit.
Once you’ve determined your campaign will be profitable, you can take calculations one step further and start to think about what a reasonable budget would be.
Let’s say, for example, when using the Google Keyword Planner, you learned that ~5,000 people search for products like yours every month, using a variety of different keywords in their queries. Let’s also say the average cost per click for those search terms was just $1.
Let’s also take a guess at an average click-through-rate for these keywords (the rate at which people will click your ad when they see it on the page). When figuring out a click-through-rate, you can consult various charts and websites that give averages per industry, but as a whole, it’s going to vary wildly, so we’d recommend starting with 5% then adjusting your calculations based on real-world data when your campaign starts. Now, with a 5% CTR (click-through-rate) and ~5,000 monthly searches at $1/click, you could expect to see roughly $250 in spend.
That seems simple enough, but remember that all of these numbers can vary wildly, from clicks costing more than $25 to CTRs both above 10% and below 1%. The beauty of PPC, however, is that you can monitor all these factors continuously and only spend money on clicks and keywords that you know are going to be profitable.
The real answer here is: As much as possible, so long as you’re staying profitable. If your campaigns are driving more revenue than they’re costing, why slow down?
To start, you can use the tips and calculator above to at least get an approximation of how much you could spend and whether not you should even try in the first place.
The post How much should you spend on PPC? PPC Budget Calculator & Tips for setting a budget appeared first on CallRail.
Our product roadmaps are already defined by our company’s ethos — our customers are just waiting for us to recognize it. Their pain points, frustrations, and repetitive tasking are our infinite roadmaps. The world of technology is full of opportunities, innovation, and demand, and when we solve one customer’s problem, another will arise before we can finish bug-fixing the first.
Airplane WiFi is my favorite example of this. Is there a technology hardship worse than trying to browse the internet on an airplane? It’s excruciatingly slow compared to our office WiFi and 4G connections! But while we complain in between the lethargic page loads, we forget that 15 years ago, WiFi on an airplane was an idea that could be best described as ‘wishful thinking.’
This is a perfect example of how a solution can immediately lead you to the next problem. We were all so excited when we boarded an airplane and saw the WiFi light glowing for the first time. But within a short few years (or maybe months, for you heavy travelers out there) we were no longer appeased with just having wifi — we had to have fast wifi.
In other words, innovation very often runs parallel to problems that need solving. If we’re lucky, our product is never complete, just like our customer is never satisfied. By building customer empathy into process and product creation, we can be sure that we’ll always be on top of the next thing our customers need.
Qualitative data is the key to understanding what quantitative data you need, and how to get it. User interviews, product reviews, and customer feedback can provide you with the “what” and the “why” as step one. Step two is then layering quantitative data on top to measure the “how often,” “how much,” and “when.”
I make it a habit to talk to customers in-person at least once a quarter. Whenever possible, I partner with our Customer Support, Marketing, and Sales teams and tag along when they speak with our customers. Reaching out to users directly through email is also a fast and effective way to start a relationship with your customer base.
CallRail’s Agency Summit conferences have been an enlightening source of feedback since the inaugural conference in Atlanta in 2018. At these conferences, I’m able to present new concepts and discuss product enhancements with groups of customers. The feedback received during these lunch and learns, happy hours, and interactive presentations have led to significant improvements in our Account Center product, which has in turn increased adoption of the product.
The feedback from any conversation you have with your customers powers ideas, highlights opportunities, and ensures our software development has a human touch. And while you may only see a small number of customers respond in your first few attempts, users will become more engaged as they start to see their feedback implemented in your product.
When you consider which customers to talk to, here are a few things to keep in mind:
If you were to stop reading here, you might go on to have fantastic conversations with your customers but build the least-used feature of your application. Customer empathy as a tool cannot stop at qualitative data. It must be layered with quantitative data in order to validate your new assumptions and confirm there is scale to justify development.
Here at CallRail, we use customer support tickets to create our own Holy Grail of qualitative and quantitative data. After hearing from customers that they wanted to be alerted to data anomalies or setup issues within their accounts, I searched our customer support tickets for how often customers have been reaching out about these topics. My research bore fruit: I found enough tickets with similar problems to reinforce the sentiment I had heard during customer interviews and meetings.
These customer support tickets gave me the quantitative data I needed to justify building a solution for our customers: An upgrade to our Slack Integration that allows customers to receive insights in Slack for data anomalies, along with alerts about issues with their accounts.
Through the simple process of engaging in conversation with our users, combined with the careful use of quantitative data to determine how frequently a need or pain point is expressed, you can build a strong case to either add a feature to your roadmap. Or, you might learn that it’s better to reject the idea, so you can make room for other new ideas to be evaluated.
Henry Ford is famously quoted as saying that if he’d asked his customers what they wanted, he would have built a faster horse instead of the car. If building the right products were as easy as listening to customers and then building what they say, Product Managers would be out of a job.
The last critical step in building customer empathy into your process and your products is to make sure you always hear the problems, frustrations, and pain points before you come up with a solution. Empathy is about understanding the problem so intimately that the solution can be freed from existing expectations.
The post Why customer empathy is critical to our processes and products appeared first on CallRail.
Most companies today have adopted some form of marketing whether it’s digital, email, social or content in order to increase brand awareness and generate leads. Why not replicate some of your email marketing initiatives to your partners so they can be equipped to sell your brand successfully? A to-partner marketing strategy with your marketing automation platform, like Hubspot or Marketo, may lead to increased deal registrations, increased partner portal logins, and increased partner engagement. It can be an essential part of a healthy partner ecosystem.
To-partner marketing is creating campaigns for partners through your marketing automation platform (MAP) so they can successfully sell your product or service. It’s a key component of the overall marketing mix for many businesses, and to-partner marketing can easily be an extension of your existing marketing efforts. Below are some ways you can ensure the success of your to-partner campaigns by developing a to-partner marketing program within your marketing automation platform.
● Design a partner marketing strategy. Create a marketing plan the same way you would for other channels like email messaging, audience (or partner) segmentation, and cadence. Start with a brainstorm and narrow down your thoughts into a tactical plan with a cohesive vision. Document exactly what type of content will be developed, who will be responsible, how it will be shared, etc. All of your messaging and content should work together for an educational experience for your partners. Remember, the end goal is to fuel your partners with relevant collateral and information about your business.
● Align your internal teams around your partners. Partner marketing will never be successful unless marketing and channel managers are on the same page with the same goals. Once you’ve created a strategy in step one, work with your various teams to create content that supports the various goals. If you’d like more help here, download our eBook “Aligning Your Company Around a Culture of Channel Partner Success.”
● Create content. Make sure your strategy is evergreen yet adaptable based on feedback. Ideally, you will collaborate closely with your partners to get valuable insight on a regular basis. Hopefully, you receive great ideas based on what your partners enjoyed and found helpful to their sales. Take time to understand what their pain points are, what obstacles they face, and what they need to better position your products–then create content around those ideas.
● Develop campaigns at scale. This is where your marketing automation tool comes in. Creating email programs that can be used for larger groups of people will help you reach more partners in a shorter amount of time. Using a system like Hubspot or Marketo to automate your efforts will help you manage programs effectively. The following tips are a good basis for beginners:
●Avoid being spammy
● Test and send to yourself first
● Use a double opt-in structure so you don’t get dinged for unsolicited emails
● Build (and keep) a clean mailing list
● Avoid excess code and use simple graphics
Measure carefully and monitor your success. Use the tools that your marketing automation platform provides to track things like click-through and engagement. Benchmarking these metrics could be a good way to understand your initial success or areas of improvement of your to-partner campaign.
Optimize campaigns for the future. Use the benchmark reports you created in Step 5 to make actionable decisions. Email metrics like open rate, click rate, conversion rate (if there is a call to action) are a good starting point for analysis. After analyzing the data, you might want to ask yourself some of these questions: What type of content was engaged with the most? Was there a type of email format (graphic, html, etc) that resonated best? From there, you can leverage Allbound and see where your partners improved. Did the partners who engaged with your email content have a rise in logins? Were they more active within Allbound? Test everything and learn from the successes and failures of your first campaign.
Target your best growth opportunities. Use Allbound to uncover partner engagement opportunities. Have you noticed a decline in partners who would frequently register deals and now trending less frequently? Or a learning track that isn’t being utilized that would greatly benefit partners? Leverage Allbound to see what valuable resources aren’t being utilized and then send them via email. Combining the power of Allbound with the ability to streamline through a marketing automation tool will help you share content, engage with partners, and track overall success.
Allbound integrates seamlessly with systems you already have in place (like a marketing automation platform), allowing partners to gain key insights into your business. If you are using marketing automation for customers, why not try it for partners as well? If you have questions on how to start, let us know!
The post Using Your Marketing Automation for To-Partner Marketing appeared first on Partner Relationship Management Software (PRM).