Reducing Sales Cycles, Part 1: Using Web Analytics
Sean Shoffstall, VP of Innovation and Technology
Everyone says they want to reduce their sales cycle. But most of us find the task daunting at best. If we’re going to get serious about improving the way we move prospects towards a purchasing decision, we’ll need to break down some lofty concepts into actionable chunks. This is the first in a series of articles that will do just that.
So, where to begin?
I’ll start by expressing my fervent hope that you’re tracking your website visitors. Whether you’re using a free tool like Google Analytics or have invested in a powerful solution such as Adobe Site Catalyst, you’ve laid the groundwork to minimize the time from first customer interaction to sale.
We’ve touched on all these points before. This article will explain how you can use those tracking metrics to identify your hottest prospects and close the sales cycle faster. First, I’ll share two tips on converting faster through optimization and acceleration. Next, I’ll give you two ways to highlight the opportunities that are ready for your sales team.
Build a Follow-Up Strategy for Conversions
This tip is the most basic of the four. After your visitors have responded to an offer or downloaded a trial, provide them with an appropriate follow-on. For example, on the thank-you page that appears after you deliver the offer, you can supply a few additional offers to drive further engagement.
The key, of course, is relevance. If someone downloads an industry white paper, don’t follow up by offering a 5% discount on top-of-the-line server hardware. Your prospect is probably not ready to make a purchase decision.
Instead, the follow-on offer should be mapped along your nurturing flow. Offer something that will drive the visitor from awareness to interest, such as a case study or an interactive educational tool. Then use your web analytics to see which offer combinations have the highest take-rates and which also increase social sharing and return visitors. These metrics indicate relevance with your visitors and can help your sales team drive the direction of the conversation.
Analyze Funnel Conversion Drop-Offs
For this next idea, it’s critical that you take the time to set up your goal conversions and funnel path. We all hope that someone will land on our site, read a page or two, and then click to have a sales person contact them. Unfortunately, that rarely happens. It’s our job to lead the prospect, step by step, to that glorious conversion. But some of our prospects have SOS (Shiny Object Syndrome) and drop off our path to enlightenment.
That’s where funnel conversion analysis comes in. When set up properly, this analysis can help us understand where prospects are falling off. We’ll then need to take a look at our flow and see what adjustments we can make – in terms of how information is presented, what type of information is shown, and in what order – to optimize the prospect’s experience and drive better conversion performance.
Measure Multiple “Goal Page” Touches
This strategy plays off the previous one. After your prospect has converted once, watch to see whether they come back and convert multiple times. Start building a “hot leads” list (this is a basic scoring that we’ll examine in depth in a future article) based on people who have touched n goal pages.
A goal page is a page that contains high-value content. If a prospect visits a goal page, it’s an indication that they’re looking for information to help them make a buying decision. With Google Analytics or Omniture, it’s easy to create and apply segmentation, and then look into your Marketing Resource Management or Customer Resource Management system to generate your hot leads list. You can also use the segmentation to find optimal flows for your site – and then apply these learnings to other key pages.
Monitor Return Visitors or Multiple Visitors from the Same Company
WARNING: Custom coding ahead
This last strategy is the most fun. In the B2B space, I’ve worked with many clients who want to target not only specific customers for lead nurturing and scoring, but also their associated companies. Google and Omniture both have some basic domain reports that can help you find out which companies are visiting your site.
Want to take it to the next level? Capture IP addresses in a custom variable. Here’s where to do it in Google Analytics (Omniture also has this capability).
Why capture IP addresses? So that you can target specific companies. It makes sense that when a company wants to do business with you, multiple people from that company will probably visit your site for research. You may get visits from end users, Finance, IT, Legal, and possibly even an executive or two. Use your web analytics to set an alert that identifies any spike in the number of visits from a set of key accounts. You can then identify which pages and products they’re most interested in and have your sales team follow up proactively.
Next Steps
We’ve only scratched the surface here. You can easily take the foundation I’ve given you and create any number of different scenarios to leverage your web analytics. In future articles, we’ll explore how you can also use Lead Nurturing, Lead Scoring, and Testing and Targeting to shorten the sales cycle. Subscribe to our RSS feed to stay up-to-date on these and other topics.
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Sean Shoffstall, VP of Innovation and Technology Social media, search and metrics are the driving force behind today's online marketing. Sean specializes in driving the best results for clients in all aspects of their business. He gives them a solid platform to build key learnings in all online media through proven metrics and testing strategies, and by leveraging years of best practice learnings from the top companies online. Email Sean. |








