In most industries a 5% conversion rate of turning online visitors to new leads would be solid.
That means that 95% of online visitors are not converting their first visit and in a measurable way. That is why it is important to have digital follow up systems in place to get back in front of potential customers who don’t complete your goal such as giving you a call or filling out your online form on their first visit. When we look at direct mailing campaigns it shows why it is important to have follow up systems in place for this online traffic as it takes 5+ interactions for many customers.
Typically our sales optimized landing pages convert 15-20%+ as we use a decade of data and experience working on over 100 companies to build our digital sales solutions. Even our highest converting case studies, who convert upwards of 30% of online visitors into new leads, still have 70%+ of people who will not complete the goal on their website or landing page especially first visit.
We can’t just bat-an-eye at the 70%+ of people who were searching for what your company offers or fits your ideal customer profile within the geographic area you serve and came across your company from seeing one of your digital ads. Even though these people didn’t give you a call or fill out your online form on their first visit, doesn’t mean they can’t still add value to your business in ways that are much harder or even impossible to accurately track.
Value Not Able To Be Tracked
Someone saw your company’s digital ad as they searched for exactly what you offer in the geographic area you serve. They clicked on it, landed on your website or landing page, scrolled down, and didn’t give you a call or fill out your online form – both of which we would have tracked as a goal conversion.
Instead, they took a screenshot of your site on their smartphone then sent the image as a text to their buddy who ends up becoming a new customer. What does this look like from a digital marketing and sales tracking standpoint?
Unfortunately, even with top sales tracking technologies, your campaign will show this as an unqualified visitor who simply scrolled your site then left without taking any valuable action. Therefore no value will be contributed to the campaign for the new customer that was referred by the person who initially clicked on your ad. Now, if they had copied and pasted the website URL to their buddy via text message then there are more advanced URL Tracking tactics which could have still given proper credit to the advertising campaign that produced the new customer.
Now imagine if that new customer who was referred by the person who clicked your ad and did “nothing trackable” now tells others about you. His lifetime value as a customer and the ripple effect he can make especially if he shares your company on social media is massive. Yet your digital marketing and sales tracking couldn’t account for an accurate level of sales growth from these metrics without a lot of trust. The best you could do is measure the direct traffic increases to your site knowing that referrals will either directly search for your company name online or type in your website.
How do you get more of your ideal customers? How do you nurture customers into your ideal long term customer? This is what we do.
Now what if this new customer who now is referring others, sharing your company on social media, and left you positive online reviews, then becomes a lifetime customer who purchases from you several more times either per year or every few years. What if this customer becomes a lifelong company advocate who forever will tell everyone about your company.
How valuable is this to your brand equity and overall business valuation when you want to exit or leverage the value for more growth?
When clients write positive reviews, refer others, share your business on social media, or even allow of a yard sign to be put on their lawn, then that all contributes to what I call “brand lift” – the benefits that are harder or impossible to track back to increasing your exposure online in precise ways.
The moral of the story is not everything can be tracked and that falls under the all-inclusive “brand lift” category BUT a lot can be tracked and the more that is tracked the more confidence businesses have to grow. Accurate sales tracking is one of the key ingredients to unlock Digital Age growth and success. That’s why it is important to work with a company who are experts in digital analytics, conversion optimization, A/B split testing, sales-optimizing all top Google Assets, and more – like we deliver to our clients.
“Brand Lift” Accounts For It All
“Brand lift” accounts for the bottomline growth of getting your company in front of more potential customers. Your bottomline growth is what matters and if it’s growing while we are running our campaign then we know things are working – especially if you haven’t made any other major changes in your business. With that said, we track as much as we possibly can using the top sales technologies. This allows us to show clear results while still focusing on real bottomline growth knowing that revenue growth rules over all other marketing metrics.
Your bottomline results is the north star of your business and can never be mixed up with top of the funnel marketing metrics. For example, say you were hyper-focused on cost-per-click or cost-per-lead. Both of these metrics mean nothing to your bottomline. They are not valuable to your business unless you can track your lead quality and revenue generated from each lead which I break down in our Levels to Digital Marketing & Sales Tracking article.
Without tracking revenue, you can’t assume that cheaper leads are more valuable when most the times they aren’t.
There is sales growth that comes from digital advertising campaigns that is harder to track. This includes referral scenarios as mentioned previously. Our goal is to track results with the highest level of accuracy. From lead volume to quality and then actual revenue generated based on the capabilities of the top marketing and sales technologies that we implement. We leverage sales intelligence to take things to the next level but it is still difficult to track all the value generated from a digital advertising campaign and ripple effect it can have on all areas of your business.
There is a positive ripple effect of getting more people to see your business especially when they are searching for your offerings directly or fit your ideal customer profile. When they visit your business website or landing page they start learning about your company, offerings, and why they should choose you. That’s why it is important to show up professionally online as this is your first impression and often times the entire buying decision happens online by looking at reviews and going through your digital sales presentation which is your website or landing page.
A professional digital presence boosts trust and credibility plus takes potential customers through the buying decision. Even people referred to your business will often check out your digital presence before reaching out. If the experience isn’t good then how do they expect the offline experience to be? This is why it’s important to provide a professional experience from stranger to paying customer in this new Digital Age to then maximize referrals and other “brand lift” components while also increasing trust, credibility, customers, and success of your business.