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Lead Attribution & the Customer Journey (Part 1)

2 May

Use the Data Available to You to See the Whole Picture

Lead Generation

CoreyMorrisGuest Contributor:
Corey Morris, Digital Marketing Director

Lead attribution and the customer journey. Yes, these are two of the most commonly used buzzwords in digital marketing right now. This is not a lazy blog post to latch onto what others are saying and to give you a fluffy, rosy version of how you should be considering both the customer journey and lead attribution to make your digital marketing drive results 10x over what you got last year. This blog is to make sure we’re all on the same page and using the data available to us to help make these topics attainable and realistic before we get too “pie in the sky” with our conceptual thinking.

But first, we must answer this question: what is lead attribution? Lead attribution is the practice of giving credit to the source who provided the lead. For example, if you are running a PPC campaign in Google AdWords and that person comes to a landing page on our site and completes the form, then they are a conversion—consequently, that lead gets attributed to PPC via AdWords.

This example sounds like typical and solid tracking; however, it could also be short-sighted when we’re talking about “last-click attribution.” By counting this lead as a lead specifically for AdWords PPC, we’re potentially not considering the other potential ways the user might have found us—and the other ways they interacted with our content before coming back. In this case, PPC is getting the credit.

The customer journey can be defined as the process a user takes to go from their initial step in researching, all the way to the point of conversion. If we’re using the Google AdWords PPC landing page form completion example noted above, then we’re also talking about how that same individual (yes, they’re a person, despite all of our “persona talk” about site visitors and users) ultimately decides to fill out a form, which is recorded as a conversion.

The challenge in all of this is that we don’t often work to connect the dots to attribute a lead to all the channels that had a role in the conversion— not just the one that received the last click. It can be tricky as it often isn’t linear or very trackable; however, that doesn’t let us off the hook. We have some data at our fingertips that helps us start the process of working toward building a system. If you have Google Analytics, then you have a tool that has two reports you should start looking at as your first step.

The first report in Google Analytics to get familiar with is the Multi-Channel Funnels Overview under the Conversions section. If you have conversion goals set up in your account, then you’ll have data in this report by default.

You can use the checkboxes to update the Venn diagram to mix and match, so you can understand how the different channels were involved in user journeys that ultimately led to a conversion. You can also see how many total assisted conversions there were.

The second report to take a look at is the Assisted Conversions report (also under the Conversions section in Google Analytics).

There’s a lot more you can do in this report. At a basic level, it shows a breakdown of assisted conversions, which are channels that were part of a user journey but didn’t get the last click or direct conversion at the end of the journey. If you have values set for your conversion goals or have eCommerce tracking on in Google Analytics then you also can see dollar values for each channel, which can be incredibly helpful in measuring the cost of your efforts against revenue generated. You can customize the data in this report by changing the number of days in the window prior to conversion as well as look at the value of first interaction versus last click.

Bonus: If you want to take another step and get into more advanced territory, take a look at the Attribution Model Comparison report in Google Analytics. There are some fun ways to compare models and see how the data and your perspective on conversions might change. We’ll get into this and go deeper with the next post in this series.

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IBS 2016: Innovation Starts at the End of the Channel

4 Feb

Why I’m Demanding a Disruption in Building Products Development

Trendsetters

It seems like every meeting I have been in over the last few months has the same common theme. When asking any building materials manufacturer what they want to be famous for, the one word I hear over and over is “innovation,” or being an “innovator,” or being “innovative.”

No matter the iteration of the word, they’re saying the same thing: they want to come to market with products that chart the path for the industry. The question is: what is anybody doing to really accomplish that? Just stating the word does not change the product development process or disrupt the industry with new and truly innovative products.

That’s why while I was at the 2016 International Builders’ Shower (IBS) and Kitchen and Bath Industry Show (KBIS), I was delighted to run across a company doing exactly that. Cosentino® is a building products company that develops stunning quartz and stone options for kitchen and bathroom surfaces. One of their products, Silestone®, is a beautiful high-end surface made of 94% quartz.

But what makes this product so innovative is not just the advanced bacteriostatic technology or its incredible resistance and durability, or even its numerous designs; it’s the way Cosentino develops those designs.

Through the support of their Silestone Trendspotters, a diverse group of top designers from across the country, Cosentino creates new looks every year inspired by some of the most cutting-edge and forthcoming designs in the market. How do they accomplish this? Cosentino goes straight to the other end of the channel to talk to the people using their product (and, presumably, their competitors’ products), and then gets their insights to develop a product that will set the course for tomorrow’s trends.

Let’s be clear: these designers aren’t just choosing colors. Manufacturers everywhere bring in a designer or two to pick out colors; that’s nothing new. The Trendspotters is a team of designers from all different places across the country, from different points in their careers (some veterans, some up-and-comers), from different styles and backgrounds, from different philosophies and clienteles.

Cosentino made a bold move in picking them, flying them to Italy, and turning them loose to work with engineers, product developers, and others on the manufacturing team to create a product they collectively thought reflected where design is headed. The magic of this is in how fearless Cosentino was in being open to the opportunity of what could be made when this diverse team of forward-thinkers got access to their resources, intelligence, and the inspiration of Italy.

Here are two of the new looks from the Etchings collections created this year by the Trendspotters:

  • Ink EtchInk: This jet black design is a classic, clean, and simple showstopper in most decor. By complementing the boldness of the Etchings design with a timeless shade, homeowners can feel confident their choice won’t go out of style any time soon.
  • AquaTint EtchAquatint: Look familiar? Our Art Director, Stephanie Voss, wrote a blog last year about how calming blue hues like Pantone’s Serenity will influence the building products industry in 2016. Proof pudding.

This approach to product development and design is brilliant precisely because it seems so obvious—but it’s not. Not everyone in building products is doing this. In fact, a lot of manufacturers either base their designs on focus group input or simply create designs based on studies published through standard trade outlets. Both options have their place, but are also inherently reactive—not always the best option for companies who seek to be innovative.

But who better to tell building products manufacturers at the top of the channel where design is going than some of the top designers in the country? By using these designers’ “on the ground” knowledge, Cosentino’s Silestone product is poised to set the tone for other designers and consumers in the coming years.

It takes time, energy, patience, investment, and courage to utilize an approach like this—an approach that empowers someone outside of your company to not only influence product design, but to create it. But that is true innovation. It’s listening, it’s using resources, it’s collaborating, and it’s understanding the channel on every level and using those insights to better your product and better the entire industry. Using focus groups and studies is also necessary for understanding today’s trends, but setting tomorrow’s requires further channel insights—exactly what Cosentino is doing with its Trendspotters.

I’m certain that this new line is going to be a hit, but I’m even more certain that the process will open the building products world to even more innovative creations.

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There’s a Word for Doing Something Just to Please Yourself…And It’s Not “Customer-Centric”

6 Nov

Content Marketing Must Be Customer-Centric, Not Company-Centric

You know what I just love? Reading content by a business about their business. In my time as a marketer, I’ve learned that most of the world’s best writing comes when the writer completely disregards the audience’s needs. If I can read an entire history of a company in whitepaper form, I feel like I’ve won the lotto. And I think most people feel the same.

Did you detect any sarcasm there? Because you should.

Self Centered

Here’s why: company-centric content sucks. You would think that enough B2B marketers would have figured that out by now and I wouldn’t have to state the obvious, but here I go: the only good content is content that solves a problem—not sells a product. (Customer-centric means “Help, don’t sell.”)

And yet, a recent survey by B2B Marketing and the UK-based agency Tomorrow People, found that only 38% of marketers consider their content to be “customer-centric.” Let’s think about that for a second, because that means a full 62% of marketers admit that they basically created content to please themselves. (I think there’s a word for that…)

And considering the survey is based on self-reporting, the problem could be even more widespread than the numbers indicate.

How many of us are ignoring our customers’ problems to talk our companies up via content marketing? It’s hard to know exactly, but here’s one thing that isn’t: as B2B marketers, we must start focusing on the Buyer 360—that specific combination of understanding your audience via Buyer Personas and understanding their challenges via the Buyer Journey—if we hope to make an impact with our content marketing efforts and close more sales.

For full findings from the study, read the article at Business2Community.

 

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Don’t Be Too Cool for “Old School”

22 Oct

Building Products Marketers Should Remember Direct Mail

Mail

As B2B building products marketers, it’s hard to resist the allure of the new and shiny. After all, it’s our job to push the envelope, develop new and exciting creative, and experiment with marketing tactics that drive results. But it’s also our job to use tried and true tactics that are proven to still have relevance in today’s marketplace.

A lot of marketers will be quick to tell you that direct mail is not one of those tactics—that it’s “old school” and doesn’t have the impact that digital/social/email all do. But marketers in the building industry would do well to learn what those in the fashion industry have proven time and time again: that everything comes back in style.

A recent study commissioned by Canada Post reveals that direct mail is no exception to the rule. In fact, according to this article in Marketo’s blog, direct mail still proves effective for B2B marketers, even in a predominantly digital age. Here are a few of the statistics from the study that you can’t miss:

  • 70% of people are curious to find out what’s in their mailbox. I wonder if as many feel the same about their email inbox.
  • 64% visited a website in reaction to direct mail. And typing in a website takes a lot more effort than clicking a button…
  • 51% prefer a combination of both mail and email. You may think digital is cool, but your audience might be sick of it. Mix it up.

Marketers get excited about the many new and different tools, communications channels, etc. available to us. And that’s okay; we see some cool and useful technology in our line of work, and these tools can be both fun and effective at driving results for our sales. But sometimes “old school” thinking works—when it’s right for your audience.

Take, for example, one of our clients, a major building products distributor. Many would say that fax is “old school” and no longer an effective marketing technique in the modern age; however, we conducted a survey last year of this client’s 10,000+ marketing list and discovered that fax is the second most preferred communication tactic by the audience. Ignoring a clear referendum from our audience simply because it seems “old school” would be ridiculous. And the same is true of direct mail, which continues to be effective, as the study proves.

Don’t get stagnant or miss out on conversion opportunities because you think you’re too cool for “old school.” You’re not. In fact, no marketer is too cool for something that drives measurable results.

But don’t take my word for it—the proof is in the numbers. Check out the full article for more direct mail insights.

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Not Ready to Speak? Try Listening.

25 Aug

With Building Products Social Media Marketing, Start by Listening

Stock Photo for Blog 8:24

I hear constantly from building product marketers that social media doesn’t apply to their business—that it’s “a B2C thing” or that it’s “for Millennials” and has no use when it comes to generating marketing qualified leads and closing sales. But when someone says this, what they’re really telling me is they’re not ready to use social as a platform to talk. My suggestion is this: if you’re hesitant about incorporating social media into your marketing plan, start instead with listening.

Quick story. I was at a trade show two years ago when a UPS delivery truck left behind a package containing my client’s pop-up booth. While an account coordinator at my agency tried frantically to get through to someone to talk to on the phone, I tweeted at UPS for help.

In the time the UPS social team responded to me, contacted the nearest store manager, and had the truck re-route to come and pick up the package, the account coordinator still hadn’t even reached an actual person on the phone.

These are the kinds of opportunities companies miss when they don’t at least listen to what’s happening in the social space. But there are many more benefits to social listening beyond just customer service. A recent article I read outlined a few that GE Lifesciences experienced when they began using social listening tools to monitor their industry:

  • Understanding language and terminology prospects were using
  • Learning the topics their audience was most interested in and creating content based on this information
  • Creating keyword search repositories for SEO and website taxonomy

Not every building products company is ready for a full social media marketing plan. I get it. 68% of CMOs openly admit their companies aren’t ready to fully incorporate social media into their strategies. But just because you’re not ready to use social as a platform to market your products doesn’t give you a free pass when it comes to listening to what your audience is saying.

At its heart, the building products industry is still about people. And as generational dynamics shift (hint: they’re already shifting), you can bet that those people are going to be on social media. One day social media won’t be optional—start listening now so that when that day comes, your company is prepared to speak.

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