As the economy recovers, we might expect marketing spends to increase, however marketers still need to generate maximum ROI from their spend.
At Moneypenny, we’ll always consider new ways to maximise our marketing budget, so here are some techniques from leading marketing suppliers to generate great results, without breaking the bank.
We’re focussing on the ‘interest’ stage of the customer journey, when they visit your website, looking at some low-cost website enhancements, especially for those businesses focused on driving inbound leads through to a sales team to convert. They’ve worked well for us in the past, and we hope they’ll work for you too.
Tracking
You need to track every stage of the lead journey, from the first landing on your site, to signing the sales contract, to discover what is or isn’t working.
At Moneypenny we use a tool called Ruler Analytics to help us track our lead to sales process. Before Ruler, we had a real disconnect between what showed in our CRM and our website analytics, whereas now we can connect the two and for example can see what variations in key words work best, or which marketing campaign attracted most attention.
As Dave Smithbury, Head of Marketing at Ruler Analytics explains: “Ruler tracks all visitors to your website, recording page views across multiple sessions. When a visitor then calls you, completes a web form or live chat session, becoming a lead, Ruler matches the lead data to the activity, and sends the data to your CRM. You’ll be able to see what channel, campaign and keyword generated that lead, and you’ll be able to see their full customer journey too. When that lead converts into a sale, Ruler will fire all the revenue data back into your Google Analytics and other analytics dashboards. This means you can count sales and revenue gained through marketing, not vanity metrics like clicks and impressions. Once you know what’s working, you can focus time and budget on the campaigns and keywords that are bringing you revenue.”
As a result of using Ruler, Moneypenny saw an 8% increase in quality leads, and reduced its Cost per Lead (CPL) by 11%.
Improving response speed
Whether a user enquires via live chat, a form completion, or by phone, the speed at which your team responds has a huge impact on the likelihood of that prospect converting into a sale.
According to ResponseiQ, if you call a prospect within five minutes of them enquiring via web form or live chat, you’re 21 times more likely to qualify them.
One way to make it easier for sales to speak to people quickly is to use the Website Callback Tool offered by ResponseiQ, which now includes the option to have a Moneypenny Receptionist answer calls for you.
The tool sits on your website in a similar way to a live chat widget, however, a user fills in their phone number and it immediately fires a call to your sales team. Alternatively the visitor can schedule the call for a convenient time. Your sales team are immediately in contact with the prospect, with no delays in scheduling calls or missing each other.
This type of website call back tool can increase inbound leads by as much as 24%, as it’s a new channel for users to engage with on their own terms, and if someone submits a call back request, it’s a hotter lead than a simple form completion or email.
Moneypenny data has shown that 69% of people won’t leave a voicemail, so if your team are always on the phone, or customers are likely to be left on hold, it’s a good idea to use a Phone Answering Service like Moneypenny.
For more on how ResponseiQ can help improve your marketing efforts, check out this Supercharged Lead Gen interview with their CEO Scott Lee.
You might also like to read our Supercharged Lead Gen series, in which our Digital Marketing Manager, Daniel Marshall, speaks to some of the greatest minds in marketing, gaining their top tips for supercharging lead generation.
