A bird in the hand is worth two in the bush. A buyer in your CRM is worth two prospects in your email list! A buyer has proved that he has an intention and the capability to buy and will buy further if he is presented with an offer that makes sense.
If you build a list of people who are just curious about your product but have no intention to buy anything, you are never going to have conversions from this list! So the whole idea is not just to get more people into your sales funnel but to get more buyers into your sales funnel to whom you can present great offers and convert them to premium customers.
Getting more buyers into your funnel is easier said than done. But with some counter intuitive techniques there is a possibility to increase the number of buyers and revenue. You just need to make a simple tweak in your existing funnel. To illustrate this let us take an example of a typical sales funnel with prospects, a $10 front-end product and a $50 back-end product.
Case 1: $10 front-end, $50 back-end
Case 1: You build an email list of 100 people and present them with a front-end product worth $10. Let us assume you have a 10% conversion ratio and 10 people buy that product. Let us assume that you have a 10% conversion ratio again on the buyers list and 1 person buys the back-end product for $50. Now your total revenue is $100 + $50 = $150.
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Conversion tracking is an important part of digital marketing. Without conversion tracking, you wouldn’t be able to measure your ROI on marketing. You may have spent $100 on Website A and $100 on Website B on display advertising. Website A may have given you 100 clicks and website B may have given you 200 clicks. Now this doesn’t mean that website B is giving you better ROI. How many people convert into customers is more important than clicks and leads!
Google Analytics gives a way to measure how many people converted from which source using UTM tracking codes. UTM, also known as Urchin Traffic Monitor are URL parameters which go in the URL. You need to build different UTM codes for different traffic sources. For example, here’s how my UTM code would look for Facebook Ads:
You can visit this page to build your own UTM coded URL. Google analytics and other analytical softwares such as Kissmetrics pickup this UTM tracking codes and give you information about the conversions.
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Inbound marketing and inside sales are great ways to keep the cash register ringing even when you don’t have field sales people and a huge marketing budget. But what if you do not have a blog to start with? Where would you generate leads from? Starting a blog from scratch, publishing content and getting inbound traffic takes years to master.
If you have a sizable marketing budget, you can buy a well established website, portal or a blog that has your target audience as followers. You can redirect the traffic from the blog to your sales funnel, offer something of value and convert them into your customers.
If you are operating on a limited budget, the only way to get a serious audience into your list is to tap into the audience of existing blog and list owners. This can be done with solo ads on email lists or by promoting your product or service at a high affiliate commission. [click to continue…]
Marketing in one perspective is just communication – Communicating the availability and features of a product or service to potential customers. We encounter marketing messages every day. When you think about it, you would realize that most of the marketing messages are pushed to you and not requested by you. This is also termed as interruption marketing. TV ads, Newspaper Ads, Out door advertising, spam mail and so on are interruption marketing messages trying to get our attention while we carry on with our day.
For many companies this model works just fine. They out-spend the competition with the ads, they generate more sales and revenues and the cycle goes on. In certain cases, promotion of a product or service is not possible with the above method. A start up company who have come up with a new product or service do not have the marketing budget to out-spend the competition. Also the conversion rate on such marketing messages is extremely low because they are un-targeted. The marketing messages reaches a whole bunch of people who are not interested in the product or service. [click to continue…]
As consumers spend more time using the internet and less time with other channels – advertisers are also forced to follow this trend. The ads have to be there where the eyeballs are. Unfortunately, digital marketing is not as simple and straight forward as traditional marketing. Digital marketing is best done in-house and cannot be outsourced to a digital marketing agency for various practical reasons. This is the reason that digital marketing experts are sought after all over the world right now and the demand for such candidates will only go up in the future.
If you have a marketing background and want to become a digital marketing expert; you may be wondering which is the best way to go about it. There are several courses on digital marketing which are being offered as workshops, online courses and one-on-one coaching programs.
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It is a known fact that you can’t improve what you can’t measure. One of the main advantages of digital marketing over traditional marketing is the power to measure and assign a numerical value on each step of the process…
This blessing is also a curse in disguise because we may end up measuring 50 different types of digital marketing metrics where most of them really don’t matter that much. (Example: Number of Facebook likes on a blog post!). Such metrics are aptly named as vanity metrics because the rise in numbers may be exciting but it may not lead to real growth in sales and revenue. As digital marketers we need to focus on metrics that matter.
With experience and maturity we can learn not to get excited about vanity metrics. For example, a YouTube video going viral and hitting a million views is also a vanity metric. We may feel like celebrating that the video has got a million views but in many cases viral videos have a history of having no impact on the short term or long term revenue. [click to continue…]
For a very long time I have been expecting a payment gateway like clickbank.com for India. Clickbank is an international payment gateway and an affiliate network which specializes on selling digital products online such as software and educational programs. It was not easy to make it work in India because most of the payments are handled through credit card and PayPal and very few Indians use them. Then after RBI regulations even using PayPal within India was impossible.
eCommerce is booming in India and a large percentage of Indian users have started using online payment services to buy on the internet. So far this was limited to big eCommerce sites who start large usually with venture capital funding or as a sub of a big conglomerate. To serve such big players sites payment gateways like ccAvenue emerged. Companies like ccAvenue are not interested in small players such as a digital marketing consultant starting an online course on digital marketing (ahem!). Payment gateways require us to have huge volumes, high setup fees and a hell a lot of paperwork.
Instamojo is God send for people like me who sell training programs online through internet and usually do in small volumes. They charge a flat 5% fees on incoming transactions and the payout is done every two weeks to our bank account of choice via NEFT.
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Search engines and search engine optimization have come a long way since the past decade. Search engines came into existence basically as the evolution of classified directories and yellow pages where people would go to find information about local businesses. Even I remember picking up the yellow pages book to find something that I needed.
Now I don’t think people use yellow pages anymore. But there are a lot of striking similarities between yellow pages and search engines. In yellow pages you would find some ads along side the “organic” results. Some of the will be targeted too! So the basic business model for both of them is: provide information that can be used and once you get the audience’s attention earn some revenue via advertising.
Search engines of today are just yellow pages with magic in it. You can think of them like the magic newspapers in the magical world of Harry Potter. Images move and text can rearrange itself! It is fun when you think about it like that.
The world wide web being so flexible not only displays business information through various websites but also hosts newspapers, magazines and BLOGS! Now with improving technology, the WWW is soon set to replace the TV as an entertainment medium.
Quality Search Experience
The responsibilities of the search engines are to organize the world’s information so that the most relevant information shows up when specific “keywords” are searched for in the search bar. Each search engine has a specific way to rank these results. Google, the search engine with the biggest market share, claims to have more than 200 unique ways by which they consider which website to rank first, which to rank 2nd and so on.
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Earning views with video marketing might be tough the first time if you don’t know what you’re doing, but it’s about as easy as getting views and readers with any other type of marketing.
Before your first video is made, you should concentrate on building up a list. You can do this through forums, a squeeze page and many other mediums. This article will show you how to make your number of views explode with just a few simple steps.
1. Tell Your Followers
This step involves just telling anyone following you or interested in you about the video. You should send an email to your YouTube friends, to your mailing list, through your social media accounts and you should also embed the video into your blog for the most exposure.
This is the most basic step because you really aren’t doing that much. You don’t have to do any link building at this point, you’re just telling people about your new video.
2. Social Bookmarking
Social bookmarking might not be as good for articles as it was in the past, but it does a wonderful job with video marketing. Just go to about 20 different bookmarking sites or more and add your video URL. This also helps other people share your video because these websites are made for sharing.
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