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The digital age and technological innovation have opened the door for more flexible and accessible web-based solutions, inviting more and more organizations to utilize software-as-a-service (SaaS) tools, such as Salesforce, Slack, Zendesk, etc., to optimize processes and fast-track their operations.
SaaS has moved forward from being seen as technological innovation. Scratching the surface unravels its key characteristics: accessibility, flexibility in types of features and payment options, collaborative functions, and security, which qualifies it as a working business model.
This superior delivery method has made the global SaaS industry proliferate with no signs of slowing down. It’s said that 64% of small and medium businesses will commit to cloud-based technology as a means to boost workflow productivity in 2019. While a recent report reveals that 73% of organizations say nearly all (80%+) of their apps will be SaaS come 2020.
The SaaS ecosystem considerably evolved in the past years and will only progress as technology advances. Businesses operating within the trade will find it hard to stand out in this highly-saturated industry. Stay up-to-date and check out these latest trends to stay ahead of the competition.
Soon, it will become a common strategy to offer core services such as an API together with a suite of tools, rather than offer a full-featured service. This gives SaaS providers the ability to deliver well-supplied, focused services to keep afloat in an overcrowded market.
The unceasing debate over horizontal (operations-focused) and vertical (industry-specific) models will see a convergence soon. While each model has its own purpose, advantages, and disadvantages, it’s clear that neither is superior.
In this data-driven marketing age, you can witness SaaS applications moving towards the do-it-all approach, enabling the integration of third-party apps and current business solutions, making SaaS applications targeted but not industry-specific. This will only encourage more businesses to join in on the trend and push for open connectivity in the coming year.
SaaS businesses leverage on utilizing flexible pricing structures. You can provide the option to only pay for any particular feature clients may need; or optimize pricing methods for a month, three months, six months, or one year.
Like other industries, SaaS is being unsurprisingly tapped by artificial intelligence (AI) and machine learning technologies. In 2019, it’s projected that businesses will develop and adopt machine learning-as-a-service (MLaaS) into their roster of web-based solutions.
Software companies who plan to embed intelligent applications into their business operations will want to select the fitting AI platform to create their service. The demand for MLaaS will continue to grow, which is why choosing the best cloud-computing provider is vital to this step.
One popular trend that’s widespread in the industry is the shift from SaaS to PaaS (Platform-as-a-Service). SaaS maturity encourages businesses to look for other ways to retain and grow their customer retention rates. A fantastic way to achieve this is to convert to PaaS, which allows clients to choose and create add-on apps to the original products. This scalability mainly enhances their overall experience with the service.
Since the industry is getting highly-saturated and the number of players continues rising, the competition is naturally heightened. That means in 2019, SaaS businesses and new players will try their luck in connecting to new prospects with micro-SaaS. These types of businesses don’t get outside funding but can have high margins, low overheads, and be location-independent.
Tyler Tringas of Storemapper defines it:
“A SaaS business targeting a niche market, run by one person or a very small team, with small costs, a narrow focus, a small but dedicated user base, and no outside funding. Hence, micro-SaaS.”
A survey from a financial company concluded that 43% of small business owners use their mobile devices to maintain their business. This calls for SaaS companies to concentrate on the mobile side of things. Since their services initially started as web or native apps, the task to provide a seamless mobile experience that is superior to their counterparts is vital to their success.
SaaS systems are more flexible compared to on-premise solutions or larger legacy software packages and products. Product development and research teams are always experimenting on combining and adding new features, tools, and plug-ins to their services to accommodate their clients’ requirements.
Standalone products can further improve flexibility as systems will be susceptible to custom manipulations and will let companies create apps at a fraction of a price. Additionally, open API architectures will allow connectivity alongside minimal coding, which implies that any app can work in any software environment.
Like any other business, SaaS companies put their clients first. As the competition intensifies, the goal to deliver a richer and more valuable experience for your clients will become a company-wide effort. Revenue and customer loyalty will follow as you continue to focus on customers.
Guiding them in making the most out of your SaaS software or service not only increases usage but also feature adoption (if service offered on free trial).
Speaking of free trials, this strategy will continue to rise. Free models eliminate customer apprehension in investing and committing point-blank. 61% of SaaS businesses offer variations of these as it is proven effective for customer acquisition.
SaaS technology has cemented its remarkable position in the B2B cosmos. Given that, it’s about time to face 2019 with new technologies and forward-thinking game plan to advance in this increasingly growing space. Before making any significant steps, it is best to know where to pivot, invest, and innovate.
To keep up with the trends and changing market demands, it’s important for brands to be data-driven. To help you out, claim your free copy of “A Complete Guide to Data-Driven Marketing” today!
It’s now common to see people deeply focused on the screens of their mobile phones everywhere we go. You can imagine a scene from The Crocodile Hunter, where the late Steve Irwin narrates the behavior of a small gathering of individuals who are seen with their noses buried in screens. In his thick Australian accent, he’d probably say something like, ‘Look at those beauts in their natural habitat.’
While mobile marketing channels have seen growth overall, B2B industries are still wrapping their heads around the growth of mobile adoption. Therefore, businesses need to turn to their own analytics to determine the importance of mobile channels specifically for their audiences. Apparently, mobile visits are relatively unimportant in some B2B markets, making it considerably challenging for some businesses to generate leads through this channel.
However, the Boston Consulting Group came up with an interesting report after in-depth research on B2B mobile use and found that 80% of B2B buyers are using their mobile devices at work and more than 60% reveal that mobile played a considerable role in a recent purchase. In addition, 70% of B2B buyers experienced a significant increase in their mobile usage over the past two to three years, and 60% are expected to continue this trend.
The growing number of mobile users have prompted businesses to tap into this wealth of opportunity. This has resulted in the discovery that many mobile users are consuming more than twice the minutes compared to desktop users. For this reason, many B2B marketers are now focused on developing more effective mobile marketing strategies.
And who can blame them?
The same BCG study also found that B2B online inquiries are moving rapidly from desktops and laptops to smartphones, with Google reporting around 50% of B2B queries being made through mobile devices. This is expected to grow to 70% by 2020. The one factor that drives this number up is the increasing amount of time spent on mobile devices at work. It is estimated that mobile usage per B2B individual will increase from two hours a day to three by 2020. This change is largely driven by the digital generation and the increasing use of smartphones by the more senior demographic.
These may appear to be impressive numbers, but they are still small as opposed to B2C. However, the good news is it’s growing steadily. According to Forrester research, the B2B e-commerce industry is expected to grow at a compound annual growth rate of 7.4%, reaching a value of $1.2 trillion by 2021. It’s worth noting that the majority of B2B purchases are already influenced by internet research, with an increasing percentage done on mobile.
Businesses are making headway in mobilizing websites and developing functional apps, but they need to understand that going mobile is just the beginning. Digital marketers must also understand that a customer’s preferences, expectations, and intent change, including how they interact with different platforms.
B2B buyers are using their mobile devices to conduct research on their needs and find other sources of information, potential vendors, and service providers. So, what should you be doing to effectively market B2B products and services on mobile and reach these modern buyers?
A mobile leader is data-driven and analytical, with having an in-depth understanding of their customers’ behavior beyond buyer personas. You should know the strategies to put into action within a specific budget. You should have the behavioral understanding of a marketer, with the technical know-how to be crafty on the product side, not to mention some expertise in mobile tech. There should also be an understanding of the process involved in funnel analysis and the importance of branding.
Beyond the skill sets, a mobile leader’s power lies in their ability to predict the future of mobile and its impact on the brand. This level of understanding and innovation is what will lead to success.
In the age of customer-first best practices, optimizing the user experience becomes one of the most important aspects of any marketing campaign. When it comes to mobile, this means optimizing the mobile experience so that the value provided to mobile buyers is maximized. This goes beyond simply creating a mobile-friendly version of your website and covers every aspect of the mobile buying experience.
Mobile devices are a reliable option for local searches since mobile searches are initiated later on in the sales funnel. On the other end, desktop search is mostly done by those who are more inclined to gather additional information.
Google is continuously working on local search to be a ranking factor, so optimizing for it will definitely be important in the near future. Expect to see many more B2B companies with increased mobile visibility where they target highly-focused queries to boost they click-through rates.
Most B2B buyers are actively using social media to conduct research and make their purchasing choices. Added to that, social media consumption is one of the leading activities that people conduct on their mobile devices. And with Facebook and YouTube becoming more popular in running social media searches on a daily basis, creating content that aims to be shared is what you should focus on.
The mobile adoption trend has forced traditional digital marketing strategies to evolve and focus more on the customer experience via handheld devices. As a marketer, adapting to these changes is a must, particularly now that people rely on their smartphones to facilitate almost everything, from buying and acquiring products and services to searching for pertinent information.
Optimizing your mobile channel is an important aspect of creating a sales funnel that drives revenue-building engagement, so optimizing for mobile is a must in planning and executing today’s marketing strategies. It’s time to focus on how to deliver a great experience on each comprehensive mobile customer journey every single time.
Trust is an essential component in building customer relationships. You’ll want people to regard your brand with confidence because of the way you operate your business, interact with clients, protect their data, and promote your products and services. Ultimately, this trust will help boost online conversions.
Trust signals serve as validations from customers and online communities regarding the credibility and legitimacy of your business. It can be in the form of a badge, a certificate, content, or symbols that online users consciously or unconsciously look for to help them gauge the authenticity of your website. Trust signals also make your website SEO-friendly in the eyes of Google and other search engines.
With this post, you’ll learn about common trust signals that you can use on your website and how they can help in increasing online conversions for your business (sales & lead generation).
B2B buyers base their purchasing decision not just according to how much product info you provide to them, but also how useful the info is. You might think you’re doing a great service to your audience by writing lengthy product descriptions on your site, but you should try different methods of educating potential buyers about your product.
This is especially true if you’re selling something that’s either technical or customizable, such as software, in which case, you can come up with product training videos to show how your product works or to explain how you can tailor the program to fit specific business models or needs.
Once people have bought or used your product, encourage them to submit product reviews. Allowing them to talk about their experience with your product is a sign that you value their opinion, not to mention that their feedback can act as a valuable customer testimonial.
Just like product reviews, you can use customer testimonials as trust signals to show that people are satisfied with your offering. Note that testimonials work better if your company primarily provides a service and does not have e-commerce capabilities.
You can highlight testimonials anywhere on your website – from your homepage to landing pages that focus on a particular solution. Make sure the testimonials contain a detailed account of how customers benefited from using your service, not just generic comments that might fail to impress future buyers.
Testimonials can be effective in stirring certain reactions or responses, especially when they come from real people with real interactions with your company. Don’t forget to include your customers’ name, company name, job title, and actual photos, so website visitors can see for themselves that these customers are in fact legitimate people who use your services.
Through testimonials, people who used to be unfamiliar with your business may become more interested or even move further into the next stages of the marketing funnel. Combining user-generated content with personalized lead nurturing, you can engage your prospects and eventually encourage them to convert.
Because social media is mainly about communicating information and sharing it with others, it can be a great venue to get people to engage in trust marketing or word-of-mouth marketing. An active, engaging social media profile can help you connect with users as you share content, initiate interactions, and build relationships with your followers.
This makes it imperative for you to display your company’s social profiles throughout your website, where people can find out more about your brand’s personality. Once in a while, you can post photos of your company events or news about your brand’s milestones in the industry to help you become more relatable as a social community.
You can even display your personal Twitter or LinkedIn account along with your picture so that you can have a more personal connection with sales prospects. Business-wise, connecting with your social media followers can help you meet like-minded individuals who can be instrumental in further expanding your professional network.
B2B customers might prefer to speak to a representative about your business via phone first, while others might want to receive preliminary information through email, so make sure to include your phone number and email address prominently on your website.
Aside from these, you may also indicate which people they should contact in a particular department, so your website visitors will have a name to work with.
Providing information about your business address can also add to your trustworthiness, for the simple reason that it makes customers aware as to where to physically find your company. Also, from an SEO perspective, you can be found more easily on local searches.
You can also specify your business operating hours, so customers will know when they can get in touch with your company. By making all these contact details available on your website, you can cover every possible contact point with customers. Ultimately, this extensive contact access shows that your brand’s legitimacy and can help drive more B2B prospects to convert.
The precept behind showing the logos of popular brands or companies in your list of customers is that if someone of that stature trusts you with their business, then others should probably entrust their business to you as well. Lately, it’s also common practice to mention media outfits that have featured a startup retailer or an upcoming tech company as a way to influence public perception.
Content marketing can be a form of trust signal, too. When you share useful content through blog posts, for instance, you’re making use of an opportunity to help customers with their needs or problems through the information you provide. Your content will also show that you’re an industry expert who can provide valuable insights and instructions.
As long as you follow this path in content marketing, you’re increasing the trust signals for your business. The complete opposite happens when you serve content that’s overly sales-y, as customers are more likely to tag your business as self-serving and untrustworthy.
Security badges are also essential in ensuring visitors about the integrity of your site and that there’s no way for them to fall victim to scammers or spammers who might use their personal or financial information illegally. As a B2B vendor, you must assure your customers that your site or business has been verified for technical security and legitimacy of business.
Examples of common security seals include verified/accredited business badges and anti-virus secure badges. These can give your visitors peace of mind while searching your website and when considering your brand’s offering.
Trust signals play a big role in driving more conversions on your website because they see it as a safe and secure place where they can engage with you or buy from you.
Don’t give your prospects any opportunities to doubt your brand’s credibility. Make sure your website visitors know from the get-go that your brand can be trusted.
Everyone has a why. Our “why” is simple… We Believe! together we believe that one genuine, heartfelt act of kindness will absolutely make a difference in the life of another human being. Paying it forward with authentic, selfless, and meaningful acts of kindness can create a positive ripple effect.
At PureB2B, we are blessed to be a part of the Pure Incubation family and wish you all a new year filled with endless possibilities. Let’s create some positive ripples!
This past holiday season, PureB2B kicked off our first annual Inspire to Act initiative. See what our CEO, Melissa Chang, and Director of HR Kathrin Williams have to say about the initiative and the amazing impact it has had on the PureB2B team.
Like most sales leaders, every year around November someone puts something on my calendar that says something like “Discuss 2018 Client Holiday Gifts”. While we still feel its immensely important to thank and acknowledge our amazing clients, we’ve decided to spare everyone another desk trinket with a vendor logo on it this holiday season. This year, and going forward, PureB2B will be taking a different approach, allocating the “holiday gift” budget to making a donation to charity. With so many great charitable organizations, our first challenge was to figure out which charity we wanted to make our donation to. Like most sales organization we solved this problem with a look at the sales scoreboard and bestowed the responsibility of choosing the charity to our #1 revenue generating team member thus far. Congrats to Stephanie Labasco, who this year has chosen the Make-A-Wish foundation – NYC Chapter.
“Make-A-Wish is the largest wish-granting charity in the world, with 60 chapters throughout the United States and its territories, and 41 international affiliates on 5 continents. Our National office is located in Phoenix, Arizona. Since 1983, Make-A-Wish® Metro New York and Western New York has granted the wishes of 14,000 children with critical illnesses. We serve children in the five boroughs of New York City, Nassau County, and 17 counties in the Buffalo and Rochester areas. Our team was excited to be able to have an impact on Ian W’s wish to be able to swim again! A little more on Ian W’s story.
Before eight-year-old Ian got sick, his favorite thing to do was to go to the beach and play in the water with his little brother, and best friend, Mark. Trips to the beach are no longer possible because of his degenerative neuromuscular disease. But being in the water still makes him smile and laugh. That’s why Ian’s wish was for a backyard swimming pool.
He can no longer walk or stand on his own, but once he is in the pool, Ian is much more independent and can even float on his own for a brief moment. And he’s able to have fun with his mom, dad and, of course, Mark.
When a wish is granted, a child replaces fear with confidence, sadness with joy, and anxiety with hope. That’s the true power of a wish.”
We thank every single one of our clients, partners and vendors for being a part of our growth story, and giving us the opportunity to have an impact this holiday season!
The internet has revolutionized the way people acquire goods and services, thus giving birth to the thriving ecommerce industry. Online sales have been growing over 20% annually, with projected revenue of $4 trillion in 2020.
Naturally, online retail has opened up an entirely new avenue in sales and marketing. In the past, traditional marketing methods relied on ads, billboards, and speaking to a broad audience. Now, ecommerce marketing has the luxury to target and personalize its efforts via acquiring good leads. As such, the right lead generation strategies should be in place to make sure you are reaching the right audience.
Here are some techniques you can apply to generate more leads for your ecommerce business:
Create timely pop-ups or CTAs on your site encouraging your visitors to tell their friend about your store and reward them for doing so. These types of forms usually require the referrer to enter their details and an unlimited number of friends—that’s instant contact information at the tip of your hands.
Email addresses are the gateway to talking to your customers with follow-ups, discounts, and other marketing techniques down the road.
To entice the referrals to make a purchase, give the new customers a discount. If it’s something that can get them to save money, people will be more inclined to buy the item.
Cookies are an excellent tool for retargeting. If your visitors don’t purchase after their first visit, encourage them to return by quickly reminding them of a product they viewed even when they are on a different website (i.e. Facebook).
Oberlo notes that cookies are not always reliable since they expire and are sometimes blocked. However, there are still some people whose information you can collect. The expiration is one of the reasons why you should initiate retargeting as soon as possible.
You can also use geotargeting to get ahold of the local market.
Ecommerce is living in a world of social media and the internet. Most people spend an accumulated two hours or more on their social media accounts. Take advantage of this by investing in Facebook, Twitter, LinkedIn, and Instagram ads. Most platforms allow you to include a link to your website and showcase your products in a carousel format.
Additionally, offer a sneak peak of your collection on social media. Features such as the Shop on Facebook Pages and Instagram Shoppable make things convenient for your audience. Plus, these tools can help boost your brand awareness by putting it in front of as many people within your target market as possible.
Encourage both first-time visitors and existing customers to sign up for your newsletter. The key is to give them something instantly in return, like a 10% discount voucher. This strategy is a popular incentive for email collection, which should be a top priority in your lead generation efforts.
This strategy operates on the same principle as referrals but can be more personalized in the long run. Now that you have their email addresses, you can send them free shipping deals straight to their inbox if and when they abandon their shopping cart. You can also send them an exclusive discount code that they can use during a limited time.
Most ecommerce websites encourage customers to create an account so that they can avail of specific perks, namely: seamless order tracking, personalized product recommendations, and a faster checkout process. This feature can help you extract more information from your leads by asking for additional details during account creation.
Remember, the catch here is always to make your customers feel that they’re exchanging their information for something valuable in return, so don’t forget to focus on the benefits of creating an account with your website.
If your website’s UX design isn’t polished, visitors may get confused. The primary goal is to make things simple and straightforward so that your buyers can successfully go to the checkout page without getting lost. The same goes for your call-to-action buttons. Use big fonts and colors that are attention-grabbing yet pleasing to the eyes, so they know what to do.
Another design consideration to take into account is the need for conversion rate optimization. This means regularly analyzing your conversion performance and running experiments to find the best-possible strategies for enticing sales.
Don’t forget to optimize your website for mobile. People also shop on the go. If your text is too difficult to read or your site is too tricky to navigate, you may risk losing a customer’s interest.
Things happen quite quickly online. If you use time-sensitive language in your promotional material, you can encourage visitors to act on your site. Creating a sense of urgency forms a strong catalyst that encourages buyers to make the purchase decision right then and there.
For instance, you could offer a unique 5% voucher before your prospective buyer exits your page and say that it’s only valid until the end of the day. All they’d have to do to redeem the code is enter their email address—and that’s an instant lead right there.
There will be no information to collect if people aren’t visiting your site. The best way to drive traffic is to ensure you have good SEO practices in place, so your store ranks well on Search Engine Results Pages (SERPs). When it comes to brand visibility, search engines are your bread and butter. If you can successfully rank your website well organically, that’ll mean a steady flow of visitors to your site and consistent growth of your sales funnel, for free!
Research the most commonly used keywords and search phrases and incorporate them into your product descriptions. Continuously monitor the SEO trends and invest in SEM and paid search ads to propel your lead generation efforts forward.
Competition in the ecommerce industry is fierce, but finding new and improved methods of attracting the right buyers and turning them into leads will help you stay in the game. Contact information is the currency of a great inbound marketing strategy for ecommerce.
Focus on the customer and use real insights to improve your value proposition. The more you know about your target audience, the better you can tailor-fit your processes, increase delivered value, and generate more ecommerce leads.
Pure Incubation places on the Inc. Magazine’s 40th annual list for the fifth time in a row with 192% growth over the last four years.
Topsfield, MA – September 27th, 2018
For the fifth consecutive year, Massachusetts-based, Pure Incubation placed on Inc. Magazine’s annual Inc. 5000 list, an elite ranking of the country’s fastest-growing small and mid-size companies. Pure Incubation is holding steady at number 2,289 this year with a revenue of $20 million up from $13.8 million just last year.
Chris Rack, Chief Revenue Officer of PureB2B, a subsidiary of Pure Incubation, raves about its employees’ contribution to the company’s recent success.
The team is totally rocking it! They are the reason behind our every success, and I believe they will continue to do so in the future.
Rich Bibbins, Chief Operating Officer and Chief Information Officer of Pure Incubation, points to the commitment and teamwork of everyone as the result of the company’s recent success.
The recent success reflects everyone’s commitment to the company. This is truly the epitome of teamwork, and I see continued growth as we move forward together.
Pure Incubation creates, nurtures and launches marketing technology companies that drive sales growth for businesses across a variety of industries. Leveraging decades of experience in B2B demand generation and content marketing, Pure Incubation builds profitable companies by combining established and emerging technologies to create innovative services that deliver business value.
Founded in 2007 by industry and entrepreneurial veterans Melissa Chang and Barry Harrigan, Pure Incubation has since launched four self-sustaining subsidiary companies – MedData Group, PureB2B, ProspectOne, and Demand Science. Based in Topsfield, MA, Pure Incubation is continually developing new strategies and technologies to amplify the marketing capabilities of the world’s leading businesses.
If you want to beef up your content marketing strategy, it’s not enough to rely on the same techniques over and over again. You want to make sure that you are continually improving, reaching the right people, and hitting (maybe even surpassing) industry benchmarks.
Industry benchmarking is a powerful way to help you distinguish which marketing practices you should adopt or stop using. It allows you to accurately gauge your competitors’ performance using analytical data. You can then use this data to interpret performance factors, predict trends, and ensure your strategy is up-to-date with modern consumer demands.
Analyzing whether or not your company is on par with industry benchmarks is imperative. It helps weed out the tactics that need improvement or eliminate those that are no longer useful. It also helps your team set goals and provide insight into how much more you can do with your upcoming campaigns.
Many tools can help automate the benchmarking process. However, the data needs to be analyzed and understood. The first step is to determine the areas you want to track. For instance, if you have a personal blog, you may want to focus on things like website traffic, bounce rate, and time spent on your site.
Let’s discuss some of the most common metrics you should know, what they track, and the average benchmark across multiple industries.
Your conversion rate is the percentage of your audience who convert to customers. Usually, high conversion rates mean that your marketing strategies are successful. Lander reports that the average landing page conversion rate across all industries is 2.35%. However, don’t be complacent as values vary per sector.
According to a study released by Unbounce, the top industries with the highest percentage of conversion rates are vocational studies and job training (6%) and business services (5.5%). Those on the lower end of the spectrum are higher education (2.6%) and real estate (2.9%). Note that even the lowest figures cited are higher than the global average percentage.
Bounce rate is the percentage of your page visitors who leave without exploring the other pages of your website. They may have even opened a piece of sponsored content but closed it immediately after seeing the first page. Ideally, bounce rates should not be too high. You want your audience to stay on your website and navigate to other pages.
Digishuffle shared their 2017 bounce rate benchmark reports and showed that the industries with low bounce rates are real estate (49.25%), shopping (47.85%), and automotive (46.34%). No doubt, visitors to these pages surf through many products offered on the same site. After all, the end goal is a purchase during each session.
It’s different for blogs and entertainment websites, however. They have a higher bounce rate of 76.47%. The market behavior for this industry indicates that a user tends to consume a single piece of information and then continues with their day.
How much attention are your readers giving you? This varies by what kind of content you produce. If you have a lot of text-heavy articles, you can expect that the average time is longer—unless they didn’t understand your message, got bored, and left before they finished reading your content.
The more time spent, the better. Brafton pooled the statistics of 181 websites from 2015 to 2016 and deduced that the average session a visitor stays on a site is 2 minutes and 17 seconds. The outlier here was the hospital and healthcare industry, racking up 3 minutes and 38 seconds.
The difference is enormous compared to lifestyle blog posts who only get an average of 1 minute and 20 seconds of screen time, which reveals why that industry has relatively high bounce rates.
All companies want high CTRs. It’s the immediate response of your audience when they see an ad that piques their interest. It sends a message that your ad is compelling and you’re able to maximize your ad’s placement and budget. Related to that is CPC. That’s the amount marketers pay for each click gathered by advertisements on search engines like Google, Yahoo!, or Bing. The lower you pay, the better.
Wordstream released a graph of the average CTR of ads in Google AdWords. Dating and personal services have the highest percentage at 3.40%, with legal services garnering the least amount at 1.35%. Keep in mind that the average for all industries is 1.91%
CPC data shows that dating websites have a low CPC of $0.19, which justifies its high CTR. Similarly, legal ads pay a hefty $5.88. The average CPC for all industries is $2.32.
When analyzed, dating websites have a lot of creative freedom regarding copy, as they capitalize on human emotion. On the other hand, legal services have a harder time due to the demands of their professions and some restrictions enforced by Google and government entities.
It’s important to regularly keep track of this data and see how you can improve your CTR and CPC.
Email is not dead. In fact, it’s an incredibly powerful marketing tool now more than ever. There’s a lot of data to look at with email marketing analytics, with the most notable figures being open and click rates.
You want to pay attention to which emails consumers are opening. It usually has something to do with an enticing email headline and brand recall. If the receiver is a fan of your brand, he or she will give your message the time of day.
MailChimp shared that the industry-wide open rate average is 20.81%. The top performers were emails related to hobbies (27.35%), government entities (26.52%), and the arts (26.03%).
On the other hand, click rate refers to the number of people who clicked links on your email. How enticing is your product? The top three industries were hobbies (4.78%), media (4.55%), and government (3.65%). The average for all sectors is 2.43%.
Benchmarks keep you on track. With the ease of recording data through services like Google AdWords, Google Analytics, and Facebook Ads, it’s no excuse not to pay attention to the figures. Working with data will help improve your brand’s presence and your whole content marketing strategy.
So, how well is YOUR content performing? Register for a FREE Content Analysis today!
No offense, but most of your B2B leads most likely won’t convert into sales. Some might not be ready to buy, some you could lose to competition, while some might have needs that your solutions don’t exactly fit.
As B2B marketers, you need to assess which of your prospects have the attributes and behaviors that make them high-quality leads. You must also qualify leads based on their potential lifetime value (LTV) or the predicted net profit that a customer will contribute to doing business with your company.
Ideally, the costs you spend on your customers should be proportionate to the revenue that they bring in to your business. But how can you predict LTV and conversion potential before the sale? Well, it all comes down to effective lead qualification.
There are several ways to help you determine the best leads for your marketing team such as the so-called the BANT (budget, authority, need, and timing) and CHAMP (challenges, authority, money, and prioritization) frameworks.
BANT and CHAMP are traditional lead qualification methods that form a systematic criteria, which you can use to determine the “quality” of a sales lead.
However, digital marketing technologies have paved the way for more modern techniques in qualifying your leads. These days, you can tap various data from your customer relationship management (CRM) system to create a lead scoring system for potential customers on your list.
Modern lead scoring has you assign points to each new lead you receive based on their behavior or demographic information. You then use this total lead score as your guide in ranking your prospects and measuring their customer-fit or interest in your brand.
As you can see, scoring criteria these days involve a more dynamic group of attributes. However, that doesn’t make classic methods like BANT and CHAMP ineffective. In fact, you can take their most basic principles as a basis for establishing a lead scoring system that best suits your business model.
Aside from assigning points to your B2B lead based on the BANT or CHAMP frameworks, you can also design your scoring system to include other values or criteria such as a lead’s response to your sales activities or actions. This information will help paint a clearer picture of a lead’s intent.
Although the numerous data points involved in lead scoring make it quite a tedious task, what you get is a higher level of understanding about your prospects. It also becomes easier for you to qualify them as an ideal customer and scale up your marketing and sales efforts with them. It just doesn’t pay to not take advantage of data-driven lead management strategies in your campaigns.
For one, you may not be directing your efforts properly if you don’t prioritize your B2B leads. Estimates say that sales reps spend about 40% of their time looking for which lead to call. You want your team to focus on leads that have the highest potential for sales conversion and to cut down on time wasted by calling every single person on your list.
When you call every possible person on your list, there are two likely results. First, you find out at the end of the call that there was no selling opportunity at all with your lead. Second, it takes longer to make sure that your prospects meet the set criteria that qualifies them as a high-potential lead. Either way, you lose a considerable amount of time that you could have used to manage more efficiently.
Based on statistics, salespeople who used prioritized lists took 20% more actions per lead, meaning they were able to make more contact attempts and increase engagement time. Together, these actions show higher productivity for your team and more opportunities to engage your best prospects.
Furthermore, studies estimate that 83% of companies without a lead prioritization system registered below average conversion rates. So, if you want your brand to keep up with the competition, implementing a proper lead qualification system is a no-brainer.
In closing, a perfect sales situation is one where you convert every B2B lead you have on your list. But realistically speaking, that just doesn’t happen. Your potential customers will naturally be in different stages of the buying cycle and will always have unique circumstances that set them apart from the rest.
A custom lead scoring system can help you set proper parameters in determining which leads to prioritize and ultimately invest in so that you can convert them into high-value customers.
Social selling refers to the use of social media communities in your sales strategies. However, despite their similarities, social selling is not exactly like social media marketing.
Social media marketing is about delivering content to a particular community or segment, whereas social selling refers to the meaningful interaction between salespeople and individual prospects.
As a relatively new sales strategy, social selling involves leveraging technology and data for social lead generation. Once a lead is generated, the goal of social selling is to nurture that lead through one on one interactions and to drive the prospect towards a purchase decision.
Since the number of social users climbs every day, salespeople are finding it easier to create opportunities and reach their quotas through social selling. It’s a much more personal way to engage with sales prospects as opposed to the traditional cold call or email.
If you want to be successful with social selling, you need to share valuable information, respond to questions and engagement, and present solutions to your audience’s problems.
Social selling has the same goal as traditional selling – to drive purchase decisions – using a new approach. That said, there are core principles you need to understand and apply to help you make the most of this sales strategy:
As people spend more time engaging on social media, it’s becoming the perfect platform to initiate a sales conversation using the information users provide on their social profiles.
To help you identify which people can become prospective customers, look for those who are searching for products or services that are similar to what you’re trying to sell. If you come across someone who has bought from a competitor but didn’t have a positive experience, that’s a great opportunity to come in and sweep them off their feet with your brilliant solution.
Don’t ignore the importance of researching your audience. The more you know, the better you’ll be at crafting effective social selling strategies in the future.
Every social network is different. To understand which platform is the most suitable for your business, you need to know where your audience spends the most time and, most importantly, where content engagement is highest.
For example, if you’re a B2B organization, you’ll probably want to take advantage of LinkedIn, since it’s the most effective platform for B2B lead generation. Meanwhile, Facebook works well for B2C because it lets you create a Business Page, which you can use to connect with prospects without giving them the impression that you’re flooding their personal space with business offers.
When it comes to choosing the right tools, it all depends on what platform(s) you choose to focus on. It’s highly recommended that you get a monitoring tool like Hootsuite or Mention. It pays to know what your audience is talking about, so you can tap into any trending topics to maximize your chances of engagement.
Social media is designed to facilitate social interaction, so don’t go overboard automating your social selling tools. You want your prospects to identify your brand as a real human being with a face and a name instead of a generic brand page. The key is to inject a little personality into your communications.
Employing automation for your marketing and customer service campaigns may be practical, but social selling needs to include more of a human touch.
One of the best ways to build trust and authority in the eyes of your target audience is to share content that educates, entertains, and inspires. The more you’re able to deliver value; the more loyal your audience will be when it comes to acting on your brand’s content.
Here are some pointers to help your brand provide real value on social:
The bottom line here is not to keep pushing your product or service to the point that it becomes annoying. Instead, you should take the time to establish yourself as an expert in the field by producing and sharing the types of content that your target audience loves to consume.
Social media was made for sharing, and people aren’t afraid to give their opinion. Your prospects and leads may be asking for recommendations or discussing their pain points on their social media accounts. You should always utilize these types of information to learn more about what they need and want.
From there, you can create opportunities for your company and present your product or service as a viable option to address the pain points of your prospective customers.
In a nutshell, social selling is about using social media channels and other relevant technologies to help you learn about who your audience is and how they behave.
By having a good understanding of what and who makes up your potential buyers, social selling lets you engage with your best prospects on a far more personal level than most other channels. When you’re able to personalize your approach, you’ll be maximizing your conversion rates and resource usage in no time!
For more insights on using customer data to optimize your sales process, check out our Complete Guide to Data-Driven Marketing today!