Let’s Talk Conversion

In my vocabulary conversion refers to religion or to exchange rates.  This conversion; which is a complex process, is now added to my list.  Taking a lead to a closing sale, conversion completed.  Unfortunately, there is no single, concise definition of Lead Conversion as there are different definitions as needed by the organizations.  As explained in chapter 10, conversion is not a “one size fits all” concept (Zahay).  “Each company should customize its own definition of a conversion, arriving at one that reflects its goals and processes.”  In addition, “There may be multiple conversion points…..Measurable objectives should be established for each team at each stage of the lead generation and management process” (Zahay, Internet Marketing Third Edition).

In simpler terms, one company’s  conversion  such as,  Facebook may be to convert a social media patron to click on a link and provide further contact information.  City Kidz will convert someone to be a volunteer.   Amazon will convert a customer to make a final purchase.  Each organization has different goals and therefore,  have different meanings for conversion.

None the less, we will be discussing the process down the funicular image, from Qualified Lead to Won Deal!

(Images, Google.com)

Four issues marketers must consider when trying to make the conversion process for B2B or B2C customers on their websites as effective as possible include:

Personas

We know what a target market is.  Now we are going to put flesh, bones and a face to the profile of our target audience.  This way the a) needs, b) fears,  and c) aspirations of the customers can be easily addressed.

Purchasing Scenarios

To understand the purchasing process as the funnel strategy in the depiction above shows.  The second being to understand how the customer will use the website to make a purchase.

Designing and Testing Landing Pages

The ease with which a customer experiences the objectives while navigating from start to final goal on a company website.  This will be further explained by David Scheibler on October 31, 2012.

Conversion Paths

Please view the video for a clearer understanding of conversion paths.

http://www.youtube.com/watch?v=dCXcWEq1W_(Tube)

As seen in the graph below, visitors take a variety of different paths or clicks through the website. 

The following graphic shows the sample Purchase Conversion Funnel and describes each part of the

graph.

1.   Shows the flow of visitors into the scenario and at which step they

entered the scenario.

2.   Shows visitors who started their visits at this step.

3.   Shows visitors who entered at Step 2.

4.   Shows visitors who went directly from Step 3 to Step 4.

5.   Shows visitors who abandoned at Step 3.

6.   Shows visitors who abandoned the site at this step.

7.   Shows the detours that led the visitor away from the scenario.

8.   Shows movement from step to step (Webtrends).

Source:  http://product.webtrends.com/WRC/8.7/ResourceCenter/rc/library/pdf/aug/Tracking_Conversion_and_Abandonment_through_Scenario_Analysis.pdf

Conclusion

In conclusion, the marketer must know each step a segment or target audience may take on the website  to reach the final stage, the final purchase.   A further interesting address, “ Learn How to Improve Lead Quality & Increase Conversions” can be found at: 

http://demand.eloqua.com/LP=3296?elqoffer=GGLeadScoring&GoogleCampaign=Lead&sls=PPC_Google_Lead_2012&gclid=COjKrvn0nLMCFe5FMgod5GwAww .        The final question asked is where did the customers go who did not reach the final purchase stage?  This however, will be another topic.

Student Post ,  Let’s Talk Conversion, Developing Internet Marketing Strategies and Programs.

 

Bibliographaphy

n.d. Google Images. 25 Oct 2012. <http://www.google.ca/imgres?imgurl=http://cdn2.business2community.com/wp-content/uploads/2012/09/b2b-buying-process-lead-scoring.png&imgrefurl=http://www.business2community.com/b2b-perspective/the-blurry-b2b-buying-process-new-b2b-buyer-2-0293868&h=376&w=>.

Images, Google. Google.com. n.d. 25 Oct 2012. <http://www.google.com/imgres?num=10&hl=en&biw=961&bih=554&tbm=isch&tbnid=69ecxCTf34uNRM:&imgrefurl=http://www.business2community.com/b2b-perspective/the-blurry-b2b-buying-process-new-b2b-buyer-2-0293868&docid=3sHOGhHVdbl1tM&imgurl=http://cdn2.business2com>.

Tube, You. n.d. 25 Oct 2012. <http://www.youtube.com/watch?v=dCXcWEq1W_I>.

Webtrends. Webtrands Marketing Lab 2. n.d. 25 Oct 2012. <http://product.webtrends.com/WRC/8.7/ResourceCenter/rc/library/pdf/aug/Tracking_Conversion_and_Abandonment_through_Scenario_Analysis.pdf>.

Zahay, Roberts and. Internet Marketing Third Edition. Mason: South Western, 2013. 274.

Zahay, Roberts and. "Lead Generation and Conversion in B2B Marketing." Zahay, Roberts and. Internet Marketing Third Edition. Mason: South Western, 2013. 283.