3 Ways To Hack The Purchase Funnel to Boost Sales
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3 Ways To Hack The Purchase Funnel to Boost Sales
- 1. 3 ways to hack the purchase funnel @Skimlinks @7thingsmedia #PMINYC
- 2. Why are we talking about purchase funnels?
- 4. Is there really a funnel? 3% 1% 4% 0% 10% 4% 10% 0% DTU 36% 5% 11% Skimlinks 2% 6% 0% 40% SEO Other 42% 11% PPC Brand 14% 13% Other Display Retargeting/Tactical 20% 6% Affiliate 18% 12% 32%
- 5. What’s the last thing you bought? How were you influenced?
- 6. 43% of last click conversions were Search Sample: Skimlinks publisher network Source: Skimlinks data, Jul-Oct
- 7. Purchase intent Forms Matures
- 8. The lines are blurring
- 9. Advertisers are missing the opportunity to create & rapidly cultivate purchase intent
- 10. 3
- 13. Product/service discovery is evolving Devices Sources Generators +
- 17. Up to 95% of traffic from publisher content to merchants does NOT convert into a sale Sample: Skimlinks publisher network Source: Skimlinks data, Oct 2012
- 18. Showcase offers and recommend other products
- 20. Come back!
- 22. Source: Internet Retailer, Apr 2012
- 25. Use of coupons on publisher websites increases conversions on average by 12% Sample: Skimlinks publisher network Source: Skimlinks data, Oct 2012
- 26. 42% of consumers are more likely to try and purchase from a completely new brand after seeing an offer on an affiliate site Source: Forrester, Linkshare Online consumer research, Dec 2011
- 27. It’s not all about the coupon
- 29. Mobile visitors on publisher websites take 19% fewer clicks before arriving at merchant (and purchasing) Sample: Skimlinks publisher network Source: Skimlinks data, Oct 2012
- 32. How do you react?
Notas do Editor
- -How Merchants and Publishers can be most effective at every stage of the purchase funnel, and how the stages aren’t necessarily exclusive. Channels cross various stages of the funnel now so it’s important to recognize their value for each stage.
- Skimlinks-help over 150,000 publishers get involved in affiliate-blogs, editorial, forums, social, discount code-work closely with merchants to understand where these sites are effective and what other marketing channels they work with to see where our sites fit in
- JThis process has typically been represented in a classic purchase funnel. Brands put a wide net out to the relevant masses to get users aware, they then get a bit more targeted and have some influencers who help remind users of the brand, and then there are closing channels responsible for driving interested users to purchase.
- JIn that same case study, 88% of the clickpaths to conversion had over 3 clicks.74% of people visit 2-3 sites before purchasing. Need all messages to be consistent.
- Without that inspiration of seeing the brand introduced in content, the user would not be interested. And without the promotion of those shoes the user recognized, the purchase may not have happened. Developing and encouraging the intent are both critical to driving the purchase.Lianne spoke yesterday about the importance of the omni-channel approach where every channel works together for the ultimate goal of getting more users to purchase
- Are you looking at all these channels and how they work together, or does each channel operate independently?People buy impressions to get awareness and do videos to get awareness, and rely on direct, email to get the sale. Now the lines are blurred. Need to think of funnel as whole. Can’t target one without getting another.
- JThe introducers often miss out on the chance to drive a user to purchase straight from inspiration. When a user is introduced to a brand, there are incentives that can be used to get that user to buy rather than wait for them to travel down the funnel. Closers don’t always have all the information they need to drive the sale, and can be left promoting a product without promoting the brand. Needs to be a flow of data between companies.
- JIt’s called three ways but you’ll hear a lot more than 3.
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- JYour first impression creates a halo, coloring subsequent thoughts. First impressions count – your goal should be to switch customer mindsets to a default positive by creating a first positive impression, if you look good, sound good – then you, your brand, business or campaign will be perceived as good. Second, try tryvertising, sampling designed to produce a great first impression of your product that is really worth taking about – you’ll create an enduring halo effect that will influence subsequent experience. Third, create associations with people and things you know are evaluated positively – from celebrities and experts, to publications and security symbols. These will automatically and unconsciously create a halo effect around you and what you sell – resulting in more positive judgements – and transactions.
- J-It used to be simple. Users searched the web on desktops and laptops. You went to blogs and editorial sites to promote you, dabbled in some PPC and SEO, and got some email campaigns going. The avenues to scale sharing brands and products were pretty limited to blogging platforms. Publishers utilizing this here. Funnel widens at bottom too.-Now, you have to take various devices into consideration in terms of the formatting of your site & e-commerce. Social avenues have become a top source of getting your brand promoted, inspiring users. The avenues available to get users discovering and talking about your brand are multiplying and varied.
- JSocial media is a fantastic way to widen the top of your funnel by getting more eyeballs to get more social media players and content generators aware of your brand and promoting you as well. You can also use social media as a closer increasingly. Those using data to their advantage are seeing social as a positive closer.
- JMaking yourself discoverable is a fantastic way widen your reach and helps you get more new users. In a recent case study, when content sites were the first click in a clickpath, 55% of the users who ended up converting were new users.
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- Publishers as well – product reports, suggest similar products in newsletters
- FCreate brand as one-stop destination
- Explore the brand more – this publisher saw their conversion rate quardubple from our product sends and more detailed info
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- FMore people in world own toothbrushes than mobiles
- F Mobile-specific bannersEmails friendly for mobileMerchants making e-commerce sites mobile friendly to increase conversionOne merchant we work with has seen 33% of their affiliate sales come from mobile devices by applying these simple techniques
- JIn China, 30 million consumers are expected to shop online for the first time each year until 2015
- Utilize technology where a human can’t SO-LO-CO-MO
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- JThank you! Questions?Let technology facilitate something that a human can’t do -- scale