95% of your digital marketing spend is wasted. Here's how to fix it.
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#otew2012
95% of your Digital Marketing spend is wasted. Here’s the solution.
Reinventing marketing strategy.
CEM-100Deb Lavoy@deb_lavoy
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The problem
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leads
prospects
suspects
customers
deb lavoy @deb_lavoy
THE FUNNEL
The traditional funnel has been the center of marketing and sales strategy for decades.
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leads
prospects
suspects
customers
deb lavoy @deb_lavoy
THE FUNNEL
The goal was to “nurture” a “lead” toward a sale. The problem, is that the vast majority of people who enter the funnel are rejected.
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leads
prospects
suspects
customers
deb lavoy @deb_lavoy
THE FUNNEL
The funnel isn’t a funnel. it’s a filter. It only lets through a tiny percentage of people who are ready to engage with sales.
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The people who were interested, but not ready to buy
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The top of the traditional funnel*
AD
Media Mention
Social Mention
Register now!
*for considered purchases (vs spontaneous)
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Translation –a sales person will call you. If you are lucky he or she might know what you were reading.
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99.9% of people who come to this page are not ready or interested in talking to a sales person
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You are telling them that until they want to talk to a sales person you don’t care about them.
So they go away
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leads
prospects
suspects
customers
deb lavoy @deb_lavoy
You work hard and pay $$ to gain their attention. Then let most of them go without a second look.
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leads
prospects
suspects
customers
deb lavoy @deb_lavoy
THE FUNNEL
THE FILTERleaves most people behind
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leads
prospects
suspects
customers
deb lavoy @deb_lavoy
Do leads that do not instantly convert have no value?
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leads
prospects
suspects
customers
deb lavoy @deb_lavoy
Another problem: the fattest part of the funnel is ignored.
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awareness
interest
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The Idea
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Can we look at the funnel a different way?What if our goal is broader than getting people to buy. What if we also consider reach, building market presence, and an audience for our core messages?
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aware
interested
engaged
customer
evaluating
deb lavoy @deb_lavoy productfour.wordpress.com [email protected]
What if instead of filtering, we aggregate?
Instead of discarding those that don’t pass, we want to build some kind of relationship. First, we change to the language form a predatory vocabulary to a service vocabulary
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aware
interested
engaged
customer
Now we are aggregating a body of people who are at least somewhat interested in what we say.evaluating
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deb lavoy @deb_lavoy productfour.wordpress.com [email protected]
What if instead of filtering, we aggregated?
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3 things to do with non-converting leads
deb lavoy @deb_lavoy productfour.wordpress.com [email protected]
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audience is intensely valuable and hard won. even if you are not the answer to their immediate product or services needs, there was something that they found interesting. Figure it out and build on it.an audience gives you credibility, gravitas, insight, presence in the market (don't blow it)as either your business or their needs evolve, you are ready for one another.build critical mass of awareness and relevanceBe a visible presence in the market
deb lavoy @deb_lavoy productfour.wordpress.com [email protected]
1 Retain them as audience
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retain mindshare for future purchasemake that person into a non-customer reference (hey jim, i need to know more about EIM, where would you look?)garner insight
deb lavoy @deb_lavoy productfour.wordpress.com [email protected]
2 Remain relevant
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Ensure a seamless path to the next level of engagement so that the people who want to move on do it easily.In other words, you're building different levels of orbit around your biz - an ecosystem of a kind.
deb lavoy @deb_lavoy productfour.wordpress.com [email protected]
3Be there when they’re ready
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Think orbits, not funnelsAt each level, our “friends” need something from us.
Us, Inc
them.
pull
deb lavoy @deb_lavoy productfour.wordpress.com [email protected]
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Us, Inc
The Market: Be of interest
Acquaintances: Be meaningful
Community: Be valuable
Evaluators: Build confidenceCustomers: Be helpful
Employees: Be Excellent
them.
pull
deb lavoy @deb_lavoy productfour.wordpress.com [email protected]
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The execution
OK. But how do we do that?(five touchstone activities)
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something to say that’s not about your company, your new product, your latest award. What does your market need to know? Care about? Find interesting?
This is the hardest part. This is the culmination of your marketing insight into your customer and your value proposition. What do you have to say that matters?
(talk to me about narrative hierarchies)deb lavoy @deb_lavoy productfour.wordpress.com [email protected]
1 Have something to say
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A place (page, site, blog or community) that people will want to visit and revisit find interesting stuff and people – not brochures, or self-aggrandizing propaganda (which isn’t to say you should be invisible).
This will also aggregate your marketing assets so they are not disconnected shots in the dark, but building a library of value. Video galleries, slide galleries, imagery, papers, articles and blogs all play a role here – but its not about you, its about them.
A good destination aggregates both interested people and interesting content
deb lavoy @deb_lavoy productfour.wordpress.com [email protected]
2 A Digital Destination
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A simple non-threatening, step a person can take to be involved. A newsletter, a place to add an idea or rating or comment, a place to contribute, a calculator, a widget – something to do that both brings me deeper and sets up a reason to come back. No forcing, the message here is “we are offering value, because we care and respect you- if you find it interesting, join us”
deb lavoy @deb_lavoy productfour.wordpress.com [email protected]
3An easy engagement
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A simple non-threatening, step a person can take to be involved. A newsletter, a place to add an idea or rating or comment, a place to contribute, a calculator, a widget – something to do that both brings me deeper and sets up a reason to come back. No forcing, the message here is “we are offering value, because we care and respect you- if you find it interesting, join us”
deb lavoy @deb_lavoy productfour.wordpress.com [email protected]
3An easy engagement
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Email and/or social almost always plays a role here, in conjunction with a regular program of content that matters – an expert series, a topic series, a monthly discussion…cute kittens, something that asks them to come back again.
deb lavoy @deb_lavoy productfour.wordpress.com [email protected]
4 A reason to come back
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A way to go deeper (bonus marks) Every interaction gives them two choices. Maintain the relationship, or deepen it. PROVIDE FOR BOTH.Begin to comment, join the community, upload a photo, contribute a case study, enter a contest, ask a question….
deb lavoy @deb_lavoy productfour.wordpress.com [email protected]
5 A way to go deeper
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TRANSACTION
Ad Lead
Out with the old
1%
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We’ve got something
interesting going on
Really? Tell me more
person destination
In with the new
relationship
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• Every time they visit it’s a meaningful experience.
• Every time they visit they can either maintain or deepen their relationship.
• Every time they visit, you’re setting up their next visit.
The pattern you want to see
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This creates a pattern that builds and aggregates audience instead of filters
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Is your buzz just draining away?
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Fill the pool
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Stay in touch
@deb_lavoyProductfour.wordpress.comwww.linkedin.com/in/deblouisonlavoy