Tuesday, 6 June 2017

How to Retarget the Middle of the Funnel in an Increasingly Form-less World

Remember the good old days?

The 2005-era SEO? White keywords on a white background. #1 on Google. Collect your paycheck. Call it a day.

Things were so… refreshingly easy.

Since then, it’s becoming anything but. A few zoo animals made SEO exponentially more difficult. Then the number of competition and platforms exploded.

Just when you started mastering the whole ‘gated content’ thing – the whole inbound marketing thing – consumer behavior again started to shift. Right from under our noses. And we didn’t even see it coming.

Content is still king, though, right?

Yes and no.

It’s still important. It still solves many problems. Can help many different people.

But… not the way we’ve been accustomed to doing. The playbook is shifting yet again. The importance of ‘gated content’ is declining.

Here’s why and how marketers can adapt in real-time.

The Decade-Old ‘Inbound Marketing’ Playbook Everyone Follows

Most B2B marketers have followed the same playbook the past decade or so.

Create various levels of content, with different objectives, and restrict ~50%+ behind a ‘paywall’ of sorts.

So you have a blog post. And then you repurpose the blog post by writing up a bunch of blog posts, tweets, emails, and ads. Those things point back to the original ‘gated’ piece. Bada bing, bada boom, you got leads.

repurposing content sharing on social

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Then you expand on it. Webinars get a form. Cheat sheets get a form. Free trials get a form.

oprah you get a form meme

Wanna see something SUPER meta? HubSpot created a gated infographic flowchart about which content to gate:

hubspot should i gate this content flowchart

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Don’t get me wrong – this is really nice. Lots of effort and beautifully designed.

The age-old inbound playbook tells us to lock the best content behind a form and leave the quick, day to day pieces for the everyday visitor.

traditional sales process flow

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And this was all fine. People put up with it. Until it started taking it’s toll. Until it started becoming overwhelming.

And consumers have stopped responding.

Why Gated Content is Dying (And What’s Happening Instead)

Andrew Chen wrote about the Law of Shitty Clickthroughs a few years back.

In it, he compared the clickthrough rates of a display ad on Hotwired (back in ‘94 when they were first introduced) with the average Facebook display ad CTR today. The results:

Now you understand the title of his post. And the premise:

Over time, the effectiveness of a tactic (or channel) declines. Precipitously.

Email still works. It’s still important. But here’s the problem.

First, you’ve got market leading email service providers like Gmail actively filtering your junk mail before it hits someones inbox. Because trillions of emails are being sent. So it’s only natural that people slowly but surely recoil away from yet-another automated email about your latest blog post.

I’ve personally been wrestling with this decision. And the fact that anecdotally I’ve seen a drop off in results from just the past few years.

Then Drift talked about A Year Without Forms. Cue light bulbs.

Over the course of a year, they eliminated almost all of their landing page opt-in forms. They kept up their publishing schedule, but (a) treated it solely as top of the funnel branding and (b) started focusing on more quality metrics (like, are they getting good feedback).

But. But… how do they generate leads then?

While admittedly biased, they rely on messaging.

Live chat used to suck. Today it’s getting a little more sophisticated. And they use messaging (the online equivalent to texting) as a one-stop shop. This way people can get information, ask questions, or provide their info to follow up with someone.

Another side benefit? Speed.

A study in the Harvard Business Review proved that there’s no time like the present. (To follow up with leads.)

If you wait just five minutes to get back to a new lead, your chances of qualifying them drop 400%!

Now how do you respond to people within 5 minutes via email when you’ve got 300 unread messages a day?

Image Source

Now ‘content mapping’ can still apply. That’s where your content is segmented based not only by persona, but also where that individual is within their buyer’s journey.

So you can still have some content targeting the Consideration and Decision stages. People still need to be nurtured. They still need repetition. They still need multiple ‘touches’ in different channels.

But again, no ‘gates.’

On-site messaging like this also has some pretty impressive statistics. They get 15x more engagement than email, and 63% of the people who started a chat in one study ended up speaking with a sales rep.

drift live chat bot
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Advanced functionality like Bots can automatically route new chatters to the best person on your team. And it can even allow those to automatically schedule an appointment.

welcome back notice from drift

This is just one example of course. But it’s illustrative of the industry-wide de-emphasis of forms and gated content that will take place over the next few years.

However… a form-less setup like this also has its own drawbacks. For example, how are you supposed to segment prospects? How are you supposed to target people at the right time?

Especially when you’re not collecting their data in multiple forms that explicitly tell you when they’re officially ‘entering’ into the next stage of the funnel.

Here’s how.

How Do You Nurture MOFU Prospects without Forms?

The loss of age-old forms shouldn’t dent marketing automation one bit. Its ability to drive a 451% new qualified leads or a 34% increase in sales is still relevant.

The difference is that you’re relying less on email to be the driver.

So let’s start with the basics.

The easiest way to segment traffic is based on specific page visits. For example, if you were using Facebook’s custom audiences, you can create middle of the funnel (MOFU) audiences based on their visits to your site.

create a custom audience 2017

You could also target specific page visits, too.

For example, blog posts are excellent for taking advantage of long-tail search trends. And serendipitously attracting people from social.

So you can assume people primarily viewing those posts as top of the funnel (TOFU).

But Product and Pricing and case study pages are different. Here, someone’s expressing a little bit of interest. They’re checking out what you have to offer. They’ve recognized a potential need in their life. And they want to see how your widget helps.

So you can target visitors of those specific page URLs now as potential MOFUs.

create audience custom combination Facebook

What’s that? “Your customer’s aren’t on / using Facebook?”

Well you’re in luck. Twitter’s advertising platform supports the same specific URL-targeting:

audience rules exact url

As does LinkedIn’s new and improved ‘Matched Audience’:

Now you can run retargeting ads across the three primary social networks for people in each stage of your funnel (based on pageviews and previous visits).

Outside of social retargeting, you can also use messaging to provide the right ‘campaign’ to someone based on specific pageviews, too.

For example, someone on a Product page might get a more personalized, one-on-one question for assistance. While someone on a blog post might get a content CTA instead.

drift live chat

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You’re still nurturing leads based on their (assumed) journey stage. But without the pesky requirement of filling out a form.

Now you’ve got interested leads being (automatically) followed up in multiple channels. The next step is to get on the phone with qualified ones.

Enter calendar apps.

Sean McVey of Virtru changed their traditional contact form-based approach to Calendly in order to automatically schedule sales calls.

virtru ab test

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And the results quickly took off. Conversion rates jumped to 50% and 61% of leads scheduled a call.

virtru schedule demo ab test

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Then once someone creates a Calendly appointment, you can send that data pretty much anywhere with a little help from Zapier:

zapier first zap

Which allows you to now start sending more bottom of the funnel (BOFU) related messages to these newly minted marketing or sales qualified leads.

You can send them to your CRM. You can send them to your messaging platform. You can send them to social platforms.

And you can even send them to email ones, too. Completing the circle without a single traditional, annoying form.

Conclusion

It’s tempting to follow the playbook.

The tried and true techniques that marketers have been using and preaching for decades.

But their success also comes at a cost. Namely, declining performance like clickthroughs.

At the same time, consumers have continued to evolve. They’re texting instead of calling. And speed is becoming the ultimate competitive advantage.

That paves the way for new mediums. On-site messaging is becoming a faster, easier alternative for most.

At the expense of slow, frustrating, contact forms.

Those trends are happening whether we like it or not. The changes are already occurring.

The good news is that we don’t have to entirely ditch the old playbook. We can still target different people in different places with things like social retargeting, calendar applications, and of course, messaging.

The principles and overall strategy isn’t changing. It’s just requiring us to be more fluid and tactically flexible instead.

About the Author: Brad Smith is the founder of Codeless, a B2B content creation company. Frequent contributor to Kissmetrics, Unbounce, WordStream, AdEspresso, Search Engine Journal, Autopilot, and more.



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Monday, 5 June 2017

#SproutChat Calendar: Upcoming Topics for June 2017

Summer is just around the corner and we’re getting ready by brushing up on our social game. This June, #SproutChat is bringing you insight on industry topics ranging from growing an engaged audience on social to improving your social strategy with data. See a topic that interests you? Use the “add to event” button to ensure a calendar reminder.

Wednesday, June 7: Using Analytics to Improve Your Social Strategy

Marketers know that analytics are an integral part of any social campaign, but how do you identify which metrics matter most? And, once you determine them, how do apply your learnings? We’ll chat about how to keep track of analytics that can help improve your social strategy.

Add to Calendar: Outlook • Google • Yahoo • Outlook.com • Apple Calendar

Wednesday, June 14: Marketing With Instagram Stories

Instagram Stories powers marketers with a dynamic, affordable, video medium that can drive awareness and help prompt purchase. In this week’s #SproutChat, we’ll discuss ways your brand can incorporate Stories into its social strategy and hear from our community on the benefits of this feature.

Add to Calendar: Outlook • Google • Yahoo • Outlook.com • Apple Calendar

Wednesday, June 21: Adam Greenbaum on Building an Audience

Building a robust following on social is rough, especially when you’re starting from the ground up. This week, we’ll be joined by Sprout All Star and CEO at Whisker Cloud, Adam Greenbaum, for pointers on growing your community from zero while still maintaining an engaged audience.

Add to Calendar: Outlook • Google • Yahoo • Outlook.com • Apple Calendar

Wednesday, June 28: Adam Buchanan Discusses Influencer Marketing

Influencer marketing drives awareness and communicates your brand’s benefits to an audience your organization wouldn’t otherwise reach.  This week, Sprout All Star and Digital Marketer, Adam Buchanan, will walk us through the benefits of partnership programs and how to identify influencers.

Add to Calendar: Outlook • Google • Yahoo • Outlook.com • Apple Calendar

This post #SproutChat Calendar: Upcoming Topics for June 2017 originally appeared on Sprout Social.



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How to Find the Best Twitter Hashtags

7 Simple But Powerful Ways to Lower SaaS Customer Churn

If you’re like most SaaS managers, you’re committed to running and growing your business.

But to do that, you need to ensure you’re meeting the needs of your customers, and that includes reducing churn.

With companies spending anywhere from 5-25 times more to acquire a customer than keep an existing one, reducing churn is a high priority for any SaaS manager interested in building lifelong evangelists for their brand.

So, with that in mind, here are seven battle-tested ways to help you do that.

1. Make Customers “Sticky”

It’s no secret that churn is directly related to engagement with your product or service (or lack thereof).

Simply put, the more customers interact with your product, the less likely they are to leave.

As John Warrillow, author of The Automatic Customer: Creating a Subscription Business in Any Industry, writes, “Your biggest competitor for your subscription business is not the rival service; it is your customer’s inertia in not using your service.”

The goal, then, is to invite subscribers to interact with your product or service as frequently as possible.

Or, put another way, make them “sticky.”

A sticky customer, according to Harvard Business Review, is a customer who is likely to follow through on an intended purchase, buy your product repeatedly, and recommend it to others.

Dollar Shave Club insert themselves into the daily lives of their subscribers by identifying and meeting a burning need in their target market:

Quality razors at an affordable price.

dollar shave club value proposition

While inviting customers to interact with your product or service daily isn’t always an option (especially if what you’re offering only requires weekly or monthly check-ins), that doesn’t mean you can’t engage users in other ways.

Freshbooks, for instance, invite readers to click through in their emails and read their latest articles:

freshbooks newsletter articles

Others SaaS companies, like Zapier, reiterate the benefits of their product when invoicing their customers:

zapier invoice email

Like many SaaS companies, Zapier knows invoicing can trigger cancellations (especially if users are inactive), so they maximize every opportunity to reinforce the value they’re customers are getting from their product.

If your customers are quittin’—stay top of mind to get ‘em stickin’.

2. Watch the 90-day Onboarding Clock

In an analysis across several industries, Localytics found the average mobile app retention rate was 20% after 90 days.

localytics app retention and churn

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In other words, 80% of all app users are likely to churn within their first three months of signing up.

One reason for this is poor onboarding. If new subscribers aren’t taken by the hand and shown exactly what they need to do and when and how to do it, they’re unlikely to use your product or service.

Sprout Social knows this better than anyone.

Before beginning a free trial, Sprout Social users need to login and connect their social media accounts. If they don’t, they receive this email:

sprout social onboarding email

Like many SaaS companies, Sprout Social understands the importance of reducing friction at critical stages of an onboarding flow (such as asking a subscriber to take action). Your copy needs to manage expectations, overcome objections and explain, how to use your product or service, step-by-step, while highlighting your brand’s unique advantage.

Magoosh, for instance, was able to increase signups by 17% simply by adding a welcome email to their onboarding flow:

magoosh onboarding email

To get users to integrate your product or service into their daily lives (and therefore make them sticky), offer quick and easy wins when onboarding (like activating their account or completing a form) and praise them often when they follow through.

3. Charge Up Front

Take a look at this pricing page from One Pager.

Which feels like better value for the money?

Example A:

one pager pricing page monthly 2017

Or, Example B?

one pager annual pricing 2017

If you’re like most readers, you chose Example A.

Why?

Because you’re paying less.

Simple, right?

You’re saving up to 25%. And let’s be honest: who doesn’t love a bargain?

But there’s something else going on here…

When you charge up front for subscriptions, it reduces churn.

Think about it:

When you’re locked in at an annual fee, you’re far more likely to familiarize yourself with the product or service, incorporate it into your daily life, and, if you’re getting value, renew your subscription.

And although it’s tempting to believe you’ll put off familiarizing yourself, the truth is you’re more likely to make a commitment right away.

This is because paying for an annual subscription often requires more up-front.

Take a look at this pricing comparison from Leadpages:

With a Pro Annual Account, you’re saving 39% annually and paying less per month, but you’re also investing more to get started (fair’s fair, right?).

When you’re paying as much $576 up front, you’ll likely want to make a return on that investment as quickly as possible—and that means getting started immediately.

Offering annual subscriptions with discounted prices safeguards your cash flow in the event of monthly churn, and, in most cases, reduce your customer acquisition cost (CAC) while increasing your customer lifetime value (CLV).

Win. Win.

4. Add a Negative Option

BJ Fogg had a problem:

He was eating too much popcorn.

So, in an effort to curb his unhealthy habit, Fogg took the bag of popcorn out of his kitchen, climbed the ladder in his garage, and put the popcorn on the highest shelf.

The rationale?

If he really wanted popcorn, he could always go to the garage, get the ladder, and climb up to get it.

By increasing the number of steps needed to do the undesired behavior (unhealthy eating), Fogg was essentially “designing for laziness.”

Similarly, having a “negative option” for your SaaS company is a way of designing for user laziness.

With negative option billing, customers must either pay for the product or service or specifically opt out in advance of billing.

Mindfulness app Calm use a negative option for their annual billing.

A year ago, I bought an annual subscription, meditated consistently for 3-months and then, well, life got in the way and I forgot about it.

That is until I received this recent email…

calm payment renewal google play

Had I been reminded before, I probably would have cancelled my subscription. Having been billed, however, I’m now more likely to invest to “get my money’s worth” and who knows, maybe I’ll become sticky before my next billing.

Like a secure relationship, you don’t need to constant reassurance everything’s going well.

You’ll be first to know if it isn’t.

5. Identify and Reduce Activity Churn

Most SaaS companies focus on regular churn (i.e. the number of users that cancel their account each month).

While reducing regular churn is important, what’s arguably more important is identifying activity churn: the number of users that became inactive each month.

As Des Traynor writes,

“Typically customers gradually stop using products, from using it every morning to every week to once a month … At some point down the road you’ll remember you’re paying for something you don’t need and don’t use, and then you ‘churn’, even though the decision was made months ago.”

So, how do you reduce activity churn (and therefore regular churn)?

Send reengagement emails to inactive subscribers.

AD FOR CAMPAIGNS GOES HERE

Check out this email I received from Fotolia after I didn’t log in for a few months (sorry Fotolia):

A word of warning, though:

Be aware of when you mail inactive users. Returning from a week’s vacation to find a “We miss you!” email isn’t just annoying; it’s likely to make canceling your subscription top of mind.

Rather than focus on whether users are active or not (active/inactive), focus on how frequently they engage with your product (always/often/sometimes/rarely/never).

When Groove examined their churn rate, they found users who averaged 35 seconds in their initial session and logged in 0.3 times per day were more likely to cancel their subscription:

abandonment metrics

Groove’s offer to help these users through the setup process resulted in a 26% response rate. And of the users who went on to complete the process, over 40% stuck around after 30 days.

Sometimes, it’s not that users aren’t using your product or service; it’s that they’re not using it enough.

And if they’re not, you need to reach out and find out why.

6. Ask For Feedback

I get it:

People come and go.

That’s how it is. It’s not you. It’s them (well, maybe it is you a little).

Humor aside, churn can benefit you greatly (if you use it correctly, that is.)

Returning to our earlier example, Groove was able to reduce their churn by 71% simply by asking why their customers were leaving:

groove asking why customers are leaving

Image Source

Granted, it seems overly simplistic, but asking for feedback offers you an opportunity to iterate and make your product or service the very best it can be.

When asking for feedback, it’s important to reach out to the right customers.

There’s a difference between a subscriber who didn’t convert from a free trial into a customer and a lifelong customer who unexpectedly canceled after years of loyal service.

You won’t always hear back from churning customers, that’s a given, but when you do, the insights are often worth their weight in gold.

Over time, recurring patterns will emerge and you’ll be able to categorize reasons for churn into different “buckets.” With enough data, you’ll be able to identify which buckets need to be addressed, first, and your churn rate will plummet.

7. Increase Your Average Customer Spend

It’s a grim reality many SaaS managers have to accept:

As a company grows, so, too, does its churn.

With negative cash flow, you need more new customer revenue to replace churned revenue. Without it, your company’s growth will begin to plateau.

One way to reduce this type of stagnation is to focus on what David Skok calls “negative churn.”

In his own words, “[Negative churn] happens when the expansions/up-sells/cross-sells to your current customer base exceed the revenue that you are losing because of churn.”

In other words, by increasing the average customer spend of your existing customer base, it’s possible to recoup lost revenue.

One of the most common ways to do this is to offer upsells with each purchase.

AppSumo offers a gentle upsell to their Monthly 1K program in the footer of their order confirmation emails to increase their average customer spend:

appsumo monthly 1k upsell email

Upselling customers is all about timing and there’s no better time to do it than after a customer’s just made a purchase.

This might be after invoicing a customer for their annual subscription (see: “Charge up front”), or before shipping their most recent order (a favorite of subscription box services like Dollar Shave Club).

It’s important to mention here that increasing your average customer spend doesn’t just benefit you; it provides more value to your customers.

If you’re using tied pricing, for example, and each tier unlocks more features that benefit the subscriber (read: helps them achieve their goals more quickly and easily), they’re more likely to adopt it into their daily lives and become sticky.

The Importance of Value

Churn is something every SaaS owner goes through.

And although it isn’t always avoidable, it is manageable when you instill a few of the above best practices.

As we’ve seen, reducing churn goes beyond the basics of improving your product; it’s about adding value to the lives of your customers.

If you can do that, and make a meaningful difference in your customers’ lives, churn will level off, and you can get back to doing what you do best—running and growing your company.

What are your experiences with reducing churn? Leave a comment below.

About the Author: Sam Thomas Davies is the content marketing manager at Sleeknote: a company that helps ecommerce business owners capture and convert more leads without hurting the user experience. Follow him on Twitter and LinkedIn.



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Stop putting 'Stories' in every friggin' app

TwitterFacebook

This needs to stop. Please make it stop.

I'm not just talking about Trump making idiotic moves like pulling the U.S. out of the Paris Agreement. (There seems to be no stopping Mr. Tiny Hands from flipping the bird to everything that we hold dear.)

No, I'm talking about apps shamefully ripping off Snapchat Stories.

As I've said many times before, this is all Facebook's fault.

When Instagram (a Facebook-owned company) cloned the crap out of Snapchat Stories a year ago, we all shook our heads, pointed our fingers, and laughed at how scared it must have been to copy one of Snapchat's core features. Read more...

More about Snapchat, Skype, Social Media, Copying, and Snapchat Stories


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