Marketing Millenials - The Best Tactics to Increase Your Conversion Rates (Solo Edition)
In this session, he's focusing on top-notch techniques to enhance your conversion rates. Daniel will shed light on the importance of audience insights, crafting engaging content, refining the user journey, and employing powerful lead conversion strategies to expand your funnel and amplify conversions. Listen in today to advance your B2B marketing funnel.
In today's fast-paced marketing world, it's not just about generating more leads—it's about the quality and efficiency of those leads and how they convert into customers.
Understanding the audience is pivotal, which can be achieved through interactive surveys and direct conversations with both existing customers and prospects, including those who declined to convert.
Compelling Content Creation
Optimizing User Experience
Daniel drives home the significance of auditing the conversion path before allocating more budget to potentially inefficient channels and the incredible potential of tools like Chili Piper to fast-track high-quality leads.
He closes by inviting feedback and episode preferences, reinforcing his commitment to delivering valuable content for listeners.
Read the full discussion in the transcript below 👇
Audio OWEWK2532069629.mp3/2024-01-23
Welcome to the Marketing Millennials, the No BS Marketing Podcast. I'm Daniel Murray, and join me for unfiltered conversations with the brains behind marketing's coolest companies. The one request I tell our guests, stories or it didn't happen. Get ready to turn the f**k up. What's up, Marketing Besties? Welcome back to another episode of the Marketing Millennials. Today I'm solo, and I wanted to come talk about levers you can pull in marketing. And there are essentially two levers we can pull to drive success in marketing. With the simplest form, we can either increase the number of leads, essentially widening the top of funnel, or we can convert those leads more efficiently, moving them down the funnel to conversion. Today we're going to talk about the second option, increasing conversion rates. Now why focus on conversion rates? The simple answer is, while getting more leads is great, it's not just about quantity. It's about quality and efficiency. I know we've been talking about efficiency this year. It's more important than ever in 2024, it was important in 2023, but being more efficient with your marketing spend, this is how you do it with improving conversion rates. By improving your conversion rate, you're essentially, and you're ensuring that the leads you get are more likely to become customers. So how do we get those leads down the funnel more efficiently? There are several strategies, but I'm going to talk about three or four today on this podcast. One, understanding your audience. Two, creating compelling content. Three, optimizing the user experience. And four, one thing that I love doing in every B2B company that I go to. So the first thing is understanding your audience. This is the fundamental of all marketing. You need to know who you're talking to, what they care about, what problems you want to solve. And when a lead comes in, they need to feel like, oh, they understand me. They are solving the problem that I am having. They understand who I am. A lot of people are talking to everybody, but at first you got to talk about what your product actually solves for. And by understanding your audience deeply, you can tailor your messaging, tailoring your offers. But I know that understanding your audience is more buzz, buzzy. But I think there's a couple of things that I used to do when I was a marketing ops. One was adding surveys into the funnel. And the surveys also had a call to action to schedule a call to chat about your experience. Or I would go to customer success and go ask the customer success and say, hey, can I speak to some of your customers? I want to get to just learn about their problems deeper, what they're experiencing. But the thing is, it's not only talking about customers because they already have the problem you're solving. It's also about the buyers in the funnel and also the buyers that didn't buy. So you can learn why didn't they buy? What message resonated with them? What do I need to change? What are their objections? So you can go deeper in that. That's one way to do it is talk to customers. The other is listen to sales calls, talk to sales. Schedule out a 30 hour block a day or a week to just listen to what buyers and customers are saying. This will make your marketing so much better. Surveys are great. I like them. But sometimes that bias, a lot of people don't know what they're saying. They get, if you ever filled out a survey, sometimes you just want to give the right answer, not the right answer instead of the answer you actually feel. So that's why surveys are a lot of biases. So you have to get multiple ways of collecting data when understanding your customer. The next thing going down to do is create more compelling content. We've all heard content is king and they say that for a good reason. It's the way you can educate your leads. I think there's multiple places where you could put content and your content should be a couple of things. It should be informative, engaging, educational. People should either feel like, oh, you're getting me better. My dog, your job, you're inspiring me. You're doing something so innovative. You're producing solid leadership. That's why I always say in B2B expertise is the number one thing in content. If you could show you're an expert, people will trust you more and more in your content. And there's different types of content. There's content top of funnel to get more attention so people understand who you are. There's middle funnel content, which is, I don't like to think of it as a funnel, but I'm going to do it in this sense. Middle funnel is more answering the next level questions, questions about pain points, questions about how to do X, Y, and Z. And then the bottom is questions that the sales teams needs content created for the sales team content for the bottom of the funnel content. People already know what they want. They just have a couple of frequently asked questions that they need answered by you and you create content for that. The third thing is optimizing the user experience. And this is all about making the journey from lead all the way to customer referral as smooth and frictionless as possible. And the way I think about this is, I know we talked about there's two levers, but inside the lever of conversion, you got to figure out what lever in that lever to pull that will get the greatest impact in your marketing on your efforts. And I think you go, you audit the funnel and say, okay, is the biggest lever I can pull improving visitor to form fill? Is it form fill to book meeting? Is it book meeting to opportunity? Is it the opportunity to sale? Is it sale to the onboarding experience? Is it the referral? What metric can I pull as quickly as possible? That will have the most impact and you can kind of rank those by priorities and by level of effort. But I think you need to audit what metric I want to pull and what do the specific impact that that metric, if I improve that metric by this, say 2%, 3%, how will that affect the whole funnel? How would that affect revenue at the end of the day? Because all we, if you're not producing revenue as a marketer, it's hard to stay at your job. So figuring out that. So when I was a marketing ops, I would evaluate the metrics and say, okay, we need to improve book meetings. So what could we do to improve book meetings? And this kind of leads me to something I always do is if you don't have a way for prospects to book or get fast tracked on your site, I think you're missing out on huge conversions because a lot of people don't want that first call from SDRs. They want to be streamlined. They want to feel like it's a fast track. So one way you could do that is on your form, you can basically qualify if they're your ideal customer profile, ICP by adding a couple of fields that relate to your ICP. If they're a high level prospect, they should be fast tracked to a meeting right now or asked to get a call right now or figure out the question right now. If they're medium, still show them the book. If they're not, then send them down another funnel. So it's a way of pre-dequeuing or pre-sending people down different paths by ICP. I used to use Chili Piper for this, but you can use a lot of other things. But I love Chili Piper for adding book meetings in the form. They also have something I used to use called Call a Concierge, where they can call a round robin to either SDRs or your team once someone, you can ask, do you want to book a call? Do you want to book a meeting or do you want to call right now? And whatever they press, it will round robin to the best person or the territory that they want to be put in. So I think that was my fourth thing is adding, if the book meetings is something you want to approve, that is one of the things that I suggest. But I think right now in marketing, we need to focus on converse rate, auditing that conversion path, whether it's updating landing page, updating copy, updating form fields, updating email first touch, audit all those things before you blame any channel, before you blame that Facebook's not working for me, before you start spending more. Because if there's leaks in the funnel, you're just wasting money all the way down the funnel and you're ultimately pouring things in that are just leaking out. So that's my quick rant for the day, but just to sum up, one is deeply understand your customers as I talked about ways to do that. Create compelling content. I think content is what attracts people. I think thought leadership, having a creator on board, having expertise in your content will separate you from everybody else. I think having a frictionless experience on your site. So many people don't think about that word frictionless. We're in a world where people are shopping at Amazon, people are shopping, they're getting such frictionless experiences that if you're not doing this as a B2B brand, you're going to get left behind. So think about how you can make your experience frictionless. And then also, add something, a book meeting on your site or a way to fast track prospects, ICP, down the funnel. Well, that was my little rant for the day. Thank you so much. I'll see you all soon. Let me know if you like these type of episodes or what type of episodes you want to talk about. Just DM me on LinkedIn, Daniel Murray or Twitter at DMurray68. I'd love to hear what type of episodes you want to hear from, whether it's interviews, solo, me and Ari, my wife, who's the greatest marketer, talking together. What type of things you want to hear? I want to get a great experience for you all. So thank you so much for listening and have a great day. Thanks so much for listening. Tune in next week to hear more great insights from marketing's coolest operators. And if you haven't already, please consider subscribing to the Marketing Millennials podcast and giving it a five star rating. It helps bring more marketers into our community.