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Consumer Insights And Behavior – Part Two

Consumer Insights And Behavior

In this episode of Five Questions with.. We’re continuing our conversation with Captify CEO and co-founder Dom Joseph about pulling some insights into how consumer behavior has changed as a result of the Coronavirus. Part one of our conversation about changing consumer behavior and consumers in a COVID-19 world can be found here.

What are some consumer insights you have on the type of messaging that resonates with consumers today?

I think there’s been some very clever stuff coming out from some brands that have managed to move quickly. I do think some messages have been a bit ‘done-straight-away’.

I saw a funny meme yesterday that got sent around about brands trying to evolve their messaging to the emotional state of the country right now but still trying to sell their product straight away afterwards. Consumers will really see through that sentiment.

It’s a tricky one for brands to work out. I think they’ve probably got to try a few things and iterate and find out what

I think this causes a lot of problems for a lot of companies because often the link between creative and media buying strategy is so disparate that actually a lot of brands won’t be able to move quickly enough. They won’t be able to adopt and listen. You’ve got to have a different message right now.

One of our biggest clients, KFC , were very, very quick to change. Their slogan is normally ‘finger lickin’ good’, and right now we’ve been told not to touch our faces! I was very impressed with how quick they were to do that. So, some brands are able to change their messaging and make it right for the scenario, and a lot of others are going to really struggle.

Again, we’re just here to help. If consumer insights can help inform that creative strategy, and if we can help with the creative build, then that’s something that we would do. Then, we can offer to help you guys out. I do think that companies have got to evolve it right now. You have to really understand your audience, which is a very difficult one to work out.

Who does Captify work with?

https://www.captify.us/We work with about 700 brands around the world. Most of it is still with agencies. We’ve really built up a lot of our setup focused on servicing agencies. However with a lot of our agencies, we’re starting to get a closer integration with the brand itself. That is very much of interest, because what we don’t like is being too cut off from really getting the best out of our product.

The best way to use Captify ‘s product is in combination with the client’s data, so we can actually look at the full end-to-end customer journey. We can overlay our first-party client’s data on our data to see and understand the search behaviors of their users and that allows us to be able to pull the consumer insights from the data.

If we can match all the search data we already have on those users it gives us a much richer understanding of what your existing or high-value audiences have been doing over the last twelve months, what have been the trigger points.

If we can get to that level of integration with a client then we’re able to do much more stuff together and the consumer insights get more powerful, the way that you can react quickly and customize content is more powerful.

The ideal client at Captify is one where we are using our product to its full capacity to inform everything from strategy to buying, all the way through to measurement. We really strive as a business to be a core partner that can be used at all stages in that journey. There’s no specific brand, we work in every vertical, but our biggest verticals are travel, automotive, finance and retail.

Three Ways To Increase The Conversion Rate Of Your Website

When a client says that they want to generate more leads, sales, revenue from their website, the most common tactic is to focus on increasing traffic, whether that is through increasing the PPC and/or social media budgets or adding more content in order to attract more organic search traffic.

One option that is often overlooked is increasing the conversion rate. For example:

That is a 50% uplift in results!

How do you achieve that? Here are three ways you can increase the conversion rate of your website.

1. A/B Test

A/B or split testing allows you to test two alternative versions of your page (page A and page B) so see which one has the highest conversion rate.

There are a lot of different things you can test on a page, but these are the three that I start with:

The headline. You should have a strong, convincing and believable headline that promotes the main offer. The legendary ad guru David Ogilvy once said: “On the average, five times as many people read the headline as read the body copy. It follows that, if you don’t sell the product in your headline, you have wasted 80% of your money.“
The offer. What is it that the customer is getting for their money (how is it all described and laid out).
The size of your order buttons and the wording of call to action (e.g. “Join now and get access to XYZ” vs “Sign up”). For software products the primary call-to-action should often be the “demo/trial”, not the “checkout/purchase” buttons. Enlarging your action buttons usually helps.

2. Optimize Your Form

ImageScape reduced the number of form fields from 11 to 4 and saw a 160% increase in the number of forms submitted and their conversion rate increased 120%.

Here are three ways you can improve the conversion rate of your form:

Test the button copy:

One of the easiest changes to make on a form. Instead of using the generic “Submit” text, tests have shown a higher conversion rate using “Click Here” and “Go”.

Form length really does matter:

Expedia has done a lot of testing on what is the idea length of form, and they found that by eliminating company name from a form they were able to increase profits by $12m.

Require Unnecessary Information

Testing has shown that reducing the length of a form from 11 fields to 4, can increase conversion rates by as much as 120%.

What changes can you make to your form?

3. Focus On Google Analytics

One of the most overlooked tools that can be used to improve conversion rate optimization is Google Analytics.

In the Conversions section of Analytics you can review your conversion funnels. By looking at the Funnel Visualization below, we’re able to see how many users dropped off from each step, indicating areas of optimization.

As we can see, it breaks down that we have a significant number of people dropping off after they reach the cart page. Maybe there’s an area for optimization to reduce that drop-off amount.

Need help increasing the conversion rate of your website? Need your landing page audited? Then contact us today and start converting more traffic into leads, sales and revenue.

Consumer Behavior And Insights

In this episode of Five Questions with.. we’re chatting with Captify CEO and co-founder Dom Joseph about how consumer intent and consumer behavior has changed as a result of the Coronavirus.

Who is Captify?

Captify is the largest holder of search data outside of Google . We essentially bring in search data from publishers all over the web. Consumers who are searching outside of Amazon and Google for holidays, cars, different types of products, even just researching things in life and so on, we bring all that search data in and then use it to provide ad campaigns and insights to our clients.

We bring in about 46 billion searches a month and Google does about 110 billion, so it has a relatively large scale, but we’re really focused on consumers who are specifically a little bit further down the funnel. You might actually use Google to research a topic, but since you want to buy something you would actually then go to the next level of publisher or partner, and those are the companies we work with. It’s the on-site search data from those partners that provides us with the consumer insights..

We provide value to our clients through consumer insights, using the data to derive the interest and intent that users are showing, informing media buying strategies with it.

For example if you’re looking to sell more cars, it’s helpful to look at how consumers are searching and going through the consideration phase and then engage them across all channels from CTV to video and display native. A true omnichannel view of consumer behavior and the buyer’s journey.

How has coronavirus changed Consumer Behavior?

What we’re seeing is that obviously as Coronavirus broke there was a very abrupt change in consumer behavior. We have moved past the crisis and panic mode, and now we’re seeing a real shift towards people looking for a positive presence in their lives.

We’re seeing higher trends in movies that provide comedic relief and escapism from the constant barrage of news. I know for one that I’m certainly doing that myself. I’ve stopped watching the news, I’m just tired of seeing day-by-day how many tens of thousands of people are affected, it’s all got a bit too much.

Another change in consumer behavior we are seeing is that consumers are really searching in a different way. We are seeing a huge rise in people searching for specific products, everybody looking for fitness stuff as well as home appliances to really enhance the way they’re spending their lockdown.

Home office is also a big one, we’ve seen a huge amount of that. We’ve seen a huge amount of spend from our clients in all of these verticals.

So, despite the fact that many advertisers are clearly paused we’re still seeing that actually some of them are going for it in quite a buoyant fashion. Some sectors are clearly going to be in a very good way from this, everybody that’s advertising around food and home office and such, as I said. That’s reflected in the search behavior that we see.

We’re also seeing parents looking for new toys and new methods to entertain their children. Everybody’s starting to run out of ideas now having had this prolonged period indoors.

I think generally the consumption on the internet and watching videos is so much higher right now too, which in combination with our search data is evolving to the areas I mentioned above.

We’re also seeing a huge influx in video inventory, which has led to a big opportunity for advertisers to take advantage of perhaps cheaper inventory, and more being available in CTV and so on. That in turn is shifting advertiser patterns as well.

You can hear more of our interview with Dom Joseph on our YouTube channel.

Should You Be Advertising Right Now?

We are a month or so into a Stay at Home order in New England and a like many small business owners you are wondering whether you should pull or pause your ad spending as the COVID-19 crisis puts a strain on your businesses.

The good news is that research shows that your buyers want you to continue to advertise.

A March 2020 survey by GlobalWebIndex asked internet users in 13 markets whether companies should continue advertising as normal. Nearly four in 10 US respondents agreed, and a similar share (35%) were neutral, compared with 28% who disagreed.

These results are similar to what we saw in a survey from Kantar, where just 8% of consumers in 30 countries believed that businesses should not advertising during this crisis.

This does not mean that your messaging now will be the same as before the pandemic.

In fact 77% of respondents said they wanted advertising to “talk about how the brand is helpful in the new everyday life,” and 75% said it should “inform about [the brand’s] efforts to face the situation.”

The type of messaging we are seeing work really well right now is advertising that shows that you are part of the community and what you are doing to help your employees, customers and community.

Here is a good example from Ford Credit giving customers that they have some breathing room around their car payments.

Or this tweet from Budweiser announcing they are diverting their sports budgets to crisis aid efforts.

In uncertain times, there’s one thing that remains certain: we are #OneTeam.

Let’s come together in support of the heroes on the front line of the health crisis.

Learn how you can join us and the @RedCross at https://t.co/a3OxgiGqeF pic.twitter.com/e7OC8cKAMm
— Budweiser (@budweiserusa) March 25, 2020

If you have gone dark with your advertising and are ready to emerge stronger and clearer, we can help you. Contact us today to get started.

B2B Sales - Account Based Marketing

In this episode of Five Questions with.. we’re chatting about B2B sales and how to do Account Based Marketing with Andrew Fox from AdDaptive Intelligence

Who is AdDaptive?

AdDaptive is focused on revolutionizing companies’ B2B marketing approaches by reaching niche audiences about midway down the funnel. By advertising only to targeted accounts and decision makes that matter most, they eliminate a lot of wasted ad spend.

Using data to focus on your best targets

Success for any B2B sales or account-based marketing campaigns is measured in the numbers of appointments made or revenue generated. leads and sales.

Quick definition: Account-based marketing, also known as key account marketing or ABM, is a marketing strategy that focuses on a set of target accounts within a market. It uses personalized campaigns designed to engage each account, basing the marketing message on the specific attributes and needs of the account

AdDaptive provides a B2B analysis report that can help you understand your target audience by name, location, NAICS code, revenue, total employees and years in business.

You can select the attributes of the businesses and decision makers you want to reach, or you can onboard your own data to build new custom audiences. With these custom audiences you can amplify the effectiveness of your marketing campaigns and deliver better customer experiences, achieving a higher return on your marketing budget.

How is the Corona Virus impacting client’s ABM campaigns?

The approach is still the same in that we’re all people first. There is not a difference between B2B and B2C. It’s just people to people marketing.

Being authentic and emphatic goes a long way. Connect with people on a human level first. Reach out and touch base with them on a personal basis, making sure they’re okay. Understand that people are taking time to understand this new world because nobody had a global pandemic playbook that they could bring up and start implementing.

As a result, clients are looking for is a consultative approach. They want to know what is going on in their market and when it is safe to launch a new ABM campaign.

What does the future look like for B2B Sales?

It depends what industry you’re in, what business you’re in. Some industries have been hit harder than others and will take longer to bounce back.

Many companies we work with have not cancelled campaigns, they have just pushed them off a few weeks or months. As a result, I do think we’ll have a strong second half of Q2 and then a robust second half of the year.

If you have questions on B2B sales or account-based marketing, please fill out the form below.

Inbound Marketing ROI Unlocks Budget

A 2018 study from Hubspot illustrates that companies see higher ROI as a result of their inbound marketing practices.

A survey of over 6,200 marketing and sales professionals in 99 countries showed that over 53% of marketers see a higher ROI from inbound marketing tactics than from outbound.

The higher ROI is resulting in higher budgets, with 46% of teams have higher budgets in 2018.

Where are marketers spending this increased budget? One area is video channels

However, what is really interesting is the difference in enthusiasm around video the C-Suite to individual contributors but also the difference in opinion about what are the best distribution channels to use.

The Inbound Sales Process

The first step to understanding your inbound marketing ROI is to understand what your sales funnel looks like. A typical client inbound marketing funnel looks like this:

Identify

Identifying the right business opportunities from the start can be the difference between a thriving business and a failing one. Knowing what to look for also helps salespeople create a predictable, scalable sales funnel.

Connect

Inbound salespeople connect with leads to help them decide whether they should prioritize the goal or challenge they’re facing. If the buyer decides to do so, these leads become qualified leads.

Explore

Inbound salespeople explore their qualified leads’ goals or challenges to assess whether their offering is a good fit.

Advise

Inbound salespeople advise prospects on why their solution is uniquely positioned to address the buyer’s needs.

For the three areas (identify, connect and explore), use your analytics data to determine what your average conversion rate is for each category then compare it to the tangible fourth category—advise.

As you go through this process, working backward in some cases, you’ll discover a dollar expenditure that applies to each bucket into which you can split your inbound marketing efforts.

After that, demonstrating ROI is as simple as comparing those numbers to the amount of sales those efforts generated. If the number is positive, then the budget should be increased.

Contact us today and let us work with you to measure the ROI of your inbound marketing efforts.

Creating Killer Buyer Personas

Buyer personas are representations of your ideal customers. They help you understand your customers (and prospective customers) and make it easier for you to develop content tailored to the specific needs, behaviors, and concerns of your ideal customers.

The best buyer personas are based on market research and insights you gather from your actual customer base (through surveys, interviews, etc).

Depending on your business, you could have as few as one or two personas or as many as 10 or 20.

Buyer Personas include:

Buyer personas are not:

While we develop a buyer persona that represents your ideal customer, we also develop a negative persona representing undesirable customers. Negative personas may include potential customers who are not economic buyers of your services.

How do you use buyer personas?

Buyer personas allow you to personalize or target your marketing for different segments of your audience. For example, instead of sending the same email to everyone in your database, you can segment by buyer persona and tailor your messaging according to what you know about each audience member.

How do you create buyer personas?

Gather information:
Ask your best customers either in person or over the phone what they like about your product or service.
Look through your contacts database to uncover trends about how certain seekers or customers find and consume your content.
Ask your sales and service team for feedback on the potential customers they are interacting with most.

Buyer Personas Example:

Background (job/family/career path/education)

Head of Human Resources
Worked at the same company for 10 years; worked her way up from HR Associate
Married with 2 children (10 and 8)

Demographics: M/F/Age/Income/Location

Skews female
Age 30-45
Dual HH Income: $140,000
Suburban

Identifiers: Demeanor/Communication preferences

Calm demeanor
Probably has an assistant screening calls
Asks to receive collateral mailed/printed

Goals: Primary goal, secondary goal

Keep employees happy and turnover low
Support legal and finance teams

Challenges: Primary challenge, secondary challenge

Getting everything done with a small staff
Rolling out changes to the entire company

What can we do? To help them achieve their goals and overcome their challenges

Make it easy to manage all employee data in one place
Integrate with legal and finance teams’ systems

Real quotes:About goals/challenges etc

“It’s been difficult getting company-wide adoption of new technologies in the past.”
“I don’t have time to train new employees on a million different databases and platforms.”
“I’ve had to deal with so many painful integrations with other departments’ databases and software.”

Common objections: Why wouldn’t they buy your product/service

I’m worried I’ll lose data transitioning to a new system.
I don’t want to have to train the entire company on how to use a new system.

Marketing message: How should you describe your solution to your persona?

Integrated HR Database Management

Elevator pitch: Sell your persona on your solution

We give you an intuitive database that integrates with your existing software and platforms, and lifetime training to help new employees get up to speed quickly.

By developing buyer personas, you focus on the objections and challenges that your target audience has. This allows you to clarify your marketing message and elevator pitch so you can more effectively communicate with prospective clients. To get started with your buyer personas and your digital marketing program, contact us today.

Understanding Your KPI (Key Performance Indicator)

When it comes to increasing revenue, we don’t believe in guessing. That’s why we pay close attention to our key performance indicators (KPI’s). By understanding our KPI’s, we sold over $1.5 million dollars worth of sports tickets in twelve months.

Here’s how:

1. We Knew the Value of Each Website Visitor:

Consider these numbers:

Knowing the positive correlations between these rates helped us project what we needed to do in order to meet our revenue goals. The question was no longer “how do we sell an additional $100,000 online next year.” Instead, we asked “how do we drive an additional 1 million visitors to the website next year” which—when answered—answered our original question.

2. Know the Value of Each Visitor From Each Marketing Channel:

In addition to enabling us to calculate revenue per visitor, knowing our KPI’s allowed us to test our partner channels to see where we monetized the traffic. Through analytics we could tell how much traffic we sent to partner sites and the number of sales and revenue we made from those partners. We were able to track the revenue in order to compare different traffic sources (organic, social, referral) to determine which channel proved the most profitable. We quickly realized that having a partner with the highest commission rate was not as important as a partner with a high conversion rate. With KPI’s on our side, we tested, planned, and executed a strategy that enabled us to sell over $2 million worth of sports tickets worldwide in one year. Do you know your KPI’s? Do you know the value of a visitor to your website? Ready to find out?

Consumer Insights And Behavior

What are some consumer insights you have on the type of messaging that resonates with consumers today?

Who does Captify work with?

Recent Posts

Three Ways To Increase The Conversion Rate Of Your Website

1. A/B Test

2. Optimize Your Form

Test the button copy:

Form length really does matter:

Require Unnecessary Information

3. Focus On Google Analytics

Recent Posts

Consumer Behavior And Insights

Who is Captify?

How has coronavirus changed Consumer Behavior?

Recent Posts

Should You Be Advertising Right Now?

Recent Posts

B2B Sales - Account Based Marketing

Who is AdDaptive?

Using data to focus on your best targets

How is the Corona Virus impacting client’s ABM campaigns?

What does the future look like for B2B Sales?

Recent Posts

Inbound Marketing ROI Unlocks Budget

The Inbound Sales Process

Identify

Connect

Explore

Advise

Recent Posts

Creating Killer Buyer Personas

Buyer Personas include:

Buyer personas are not:

How do you use buyer personas?

How do you create buyer personas?

Buyer Personas Example:

Recent Posts

Understanding Your KPI (Key Performance Indicator)

1. We Knew the Value of Each Website Visitor:

2. Know the Value of Each Visitor From Each Marketing Channel:

Recent Posts

What we do

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