The comprehensive guide to planning out and optimizing your marketing funnels Last Updated January 4, 2021 Zach Goldie Weak marketing funnels can drag down a business. So of course, there are countless articles about elements such as improving open rates.But we have found very few reliable guides that give a complete overview, that go from considering the reader’s stage of mind to putting the pieces together in the best possible way.That’s why we wrote one ourselves.It is a 110 page guide on building automated funnels, based on our experience working on hundreds of campaigns with everyone from Fortune 500s to SMEs to famous entrepreneurs. These are evergreen funnels designed to run continuously, without the need for slogging through one-off product launches.In it you will learn:Why automated funnels can be the cornerstone of your business (can you say “goodbye, launch model”?!)How small improvements to your funnel can lead to a huge boost in earningsMoving from vanity metrics to actionable data, numbers that enable great decisionsThe “classic” 6-step marketing funnel and how to apply it to your businessHow the “Hero’s Journey” is used as an essential format for email sequencesThis isn’t some “lite” or watered down guide. It is the distillation of a decade’s knowledge from working in the trenches.Even better, it’s under $10.We want this knowledge to be easily affordable, not as a three-figure video course. That’s why it’s available as either a paperback or kindle book on Amazon.The 90-Minute Guide to Building Marketing Funnels That Convert – Paperback editionThe 90-Minute Guide to Building Marketing Funnels That Convert – Kindle editionIf you’ve ever hit a hurdle with your funnel then go give it a read.SegMetrics is your complete marketing analytics toolset in one packageSegMetrics give you the power to find exactly what works – for email content, Lead Magnets, webinars, and more – so that you can improve your marketing Start Your Free 14-Day Trial Zach GoldiePeople are usually surprised to hear that Zach studied and worked as a mechanical engineer. Through life’s weird twists and turns, he then ended up learning to write sales copy. Enjoying the puzzle aspect, figuring how best to match up the reader’s motivations with the product’s selling points, he now leads SegMetrics' copy and marketing efforts. ArticleHow to Track Email Opens in Infusionsoft’s Campaign BuilderWhile Infusionsoft gives great reporting on broadcast emails, and individual emails sent out, it can be difficult to get open […] ArticleThe iOS14 Update – What it means for digital marketersAs if 2020 wasn’t crazy enough, last June Apple announced that iOS14 would include a new App Tracking Transparency framework […] Article9 Must-Have CRO Tools To Use And Track Results in 2020Every marketer knows how important it is to constantly improve a website and track the results of your work. If […]
A fairly awesome guide to finding your 80/20 customers Last Updated January 4, 2021 Zach Goldie Marketers have become rather obsessed with goals and conversions. (And with good reason!) We take them as the benchmark of success, building whole strategies about those precious metrics.But, they usually show a limited view into what is actually bringing in the big bucks.We often measure trial signups or a one-off purchase. It’s a great start but leaves the vast majority of revenue as simply appearing out of nowhere. Data-focused marketing has one huge blindspotA big issue that marketers face is the disconnect between measuring attraction and retention.Reporting from ad platforms or google analytics can show you whether a visitor achieved the goals you’ve set up, but these must be kept limited. Goals typically have to:Happen online, such as detect if an enquiry happened, not whether the call lead to a saleOccur within a couple of visits, ideally happening on the same device within a few weeksBe a one-off action, such as looking at if they signed up but not how long they kept the subscriptionWe have become used to these short term indicators that our traffic is probably correct.Which is fine if a company is aiming for a single interaction such as a one-off purchase. But if you’re aiming to attract repeat buyers or longterm subscribers then it’s just not up to task. It can tell you how many trial signups each campaign attracted, but after that all the sources get mixed into a single clump.Most SMEs report that over half of their annual revenue comes from repeat customersBIAKelseyIt becomes difficult to see where your biggest spenders came from, which means we can’t see where most of our revenue is coming fromSession based analytics can’t handle multi-purchase attributionMarketing analytics is typically focused on what happens while someone is visiting a website.This is fine until the cookie expires, the buyer switches devices or a transaction happens off the website. For example, website analytics won’t attribute later purchases to the original source and won’t receive information from the payment process about subscription payments. So, only first-purchase attribution is possible.Which is frustrating, because LTV is the best indicator of value in your business.It’s like counting how many people come into a restaurant and ask for a table, but ignoring how much they actually spent, let alone whether they ever came back again.A 5% Increase in Customer Retention can mean a 30% increase in company profitabilityBain & CompanySo website analytics is good for examining your top of funnel to get that first goal or purchase. But it fails with long funnels or long retention periods, where a customer needs tracking over months or years to attribute multiple purchases back to a single source.It’s a shame since attracting visitors who are even slightly more likely to become repeat buyers can have a big impact on profitability.Valuable answers are hiding in your subscriber databaseMarketing automation platforms are typically designed around email addresses. These are robust for longterm tracking (unlike browser cookies). You can identify purchases as coming from the same individual even if they were years apart, so long as they use the same email address.Many email platforms such as Mailchimp Drip and Klaviyo will connect directly to your payment processor. That means the revenue can still be associated with the subscriber data, even if it was automated or within an app.The real magic happens when you enrich that customer data.You can probably store more data in your email platform than you are currently doing. The UTM of each subscriber’s initial source can usually be recorded, along with tagging them about how they have interacted with different touchpoints and the items they’ve purchased.It takes a bit of doing, but can build a powerful customer database for your business.Note: download our Ultimate Tagging Guide if you’re unsure how to tidy yours6 ways you could use this 80/20 dataHaving a database of your top spenders is useful just by itself. You can use it for lookalike campaigns or targeted remarketing. But, there’s a whole bunch of opportunities for using it to boost your revenue:1) Compare the LTV of customers from each sourceWith enriched subscriber data you can finally see where your big spenders came from. You can break it down as far as you’d like, comparing general online vs offline or looking at individual ad campaigns.2) Which emails are being read by the big spenders?Open and click rates are useful, but it’s hard to measure the impact on revenue unless it’s aiming at a sale. Your database can tell you whether your most important customers are reading your emails or if it’s they only interest the freebie hunters.3) Do certain products attract repeat buyers?Just because a product gets the best immediate ROAS, doesn’t make it the most long term profitable. If you record each customer’s first purchase then you can see how the lifetime spend differs depending on what they bought first.4) What is the most popular second purchase?So you got a first purchase, great. Now what? Build up your tags to find out what are the most popular second buys and whether there’s a particular effective 1-2 punch to use in your remarketing or post-purchase emails5) Did that popular blog post attract eventual buyers?Content marketers rarely get the credit they deserve. Unless visitors make an immediate purchase, the revenue generated will often be attributed to other sources. This adds an extra reason to collect their email, as that way you can attribute the revenue correctly even if the transaction happens months after.6) Which onboarding method is best at reducing your churn?You can easily see which email sequence has the most interactions, but it’s hard to tell which one got folk to stick around. It gets even harder if you want to compare touchpoints like emails vs an onboarding video call, but with the right tags you can easily see how the LTV differs between tactics.The probability of selling to an existing customer is 60-70%, while the probability of selling to a new prospect is just 5-20% – Market MetricsTwo methods to crunch the LTV dataBuilding up this information around your subscribers is great, but only if you can analyze it the way you want. So, you have two options:Option 1: Pivot tablesYou can assess the data in excel, although it takes some familiarity with pivot tables. Expect it to take an hour or two per metric, often involving some data exporting and combining.As an example, let’s say you wanted to find an average time to first purchase, the workflow would be:Export your Leads & their creation dates (Or their tags and the tag application dates)Export your Purchases, along with the contact Id and the date the purchase was madeUse a filter (or pivot table) to make sure that you’re looking at the first purchase that each contact madeThen, use a VLookup to attach the Lead to their purchase, and compare the date the Lead was created to their first purchase dateFinally, create a second pivot table that groups leads by the number or days it took them to purchase, and then count each of themFor more details, download our guide to calculating real lead value.Option 2: SegMetricsTo manipulate the data in a few clicks, try out SegMetrics.It connects to your email marketing platform, advertising tools and payment providers. That way it can automatically gather the data for each person going through your funnel.You can then slice and dice the data any way you wish.You’ll be able to look at the behavior of webinar attendees, the revenue associated with each upsell or the LTV of each source. These can then be saved to revisit as often as you’d like, without any need to redo your work.“The majority of a band’s revenue comes from 10-20% of their fanbase” – Lucchese, Echo Nest CEOTL;DR, SegMetrics lets you see how you attracted and retained your best customersStop relying on your website analytics to guide your funnel decisions. It is great for optimising your top of funnel, but it won’t help you improve the LTV.Instead, enrich the data in your email platform. Record the UTM data and tidy up your tags.You can then use SegMetric’s multi-purchase attribution to reveal the answers. You can see where your best customers came from to allocate budget accordingly, or see which mid-funnel activities actually improved retention.Grab a 14-day trial to see for yourself.SegMetrics is your complete marketing analytics toolset in one packageSegMetrics give you the power to find exactly what works – for email content, Lead Magnets, webinars, and more – so that you can improve your marketing Start Your Free 14-Day Trial Zach GoldiePeople are usually surprised to hear that Zach studied and worked as a mechanical engineer. Through life’s weird twists and turns, he then ended up learning to write sales copy. Enjoying the puzzle aspect, figuring how best to match up the reader’s motivations with the product’s selling points, he now leads SegMetrics' copy and marketing efforts. ArticleHow to Track Email Opens in Infusionsoft’s Campaign BuilderWhile Infusionsoft gives great reporting on broadcast emails, and individual emails sent out, it can be difficult to get open […] ArticleThe iOS14 Update – What it means for digital marketersAs if 2020 wasn’t crazy enough, last June Apple announced that iOS14 would include a new App Tracking Transparency framework […] Article9 Must-Have CRO Tools To Use And Track Results in 2020Every marketer knows how important it is to constantly improve a website and track the results of your work. If […]
Building Marketing Funnels that Convert – in 90 Minutes Last Updated January 4, 2021 Zach Goldie We know every business owner wants to know the secret to getting conversions out of your marketing funnels. But not everyone has the time to learn all the intricacies of marketing analytics. That’s why Keith has created a fool-proof, 90-minute guide aimed at helping you and your business build a marketing funnel that achieves real results.In this book, you’ll learn:Why automated marketing funnels are the bread-and-butter of your businessHow optimizing your funnels can lead to a massive boost in salesThe 6-step “classic” marketing funnel and how you can implement it in your businessThe three critical things you must measure to quickly optimize your funnels and get them to convert betterWhy understanding the “Hero’s Journey” can be one of the most profitable things you’ll ever learn when it comes to email marketingAnd much more.Keith has taken over a decade of learned strategies for optimization and condensed it into one easy-to-read guide for his fellow entrepreneurs. You’ll be getting more conversions and in turn making higher profits in no time! He goes deeper into conversions than just email click rates (although still important!) and really helps you define your customer and each of their individual needs, resulting in higher satisfaction from your audience.“And while feedback from your customers and audience is always valuable, it’s important to understand that people’s actions always speak louder than their words. This is why it’s so important to define and measure every step of your funnel!”Get your copy and start turning a higher profit today: https://amzn.to/3jQPvgNSegMetrics is your complete marketing analytics toolset in one packageSegMetrics give you the power to find exactly what works – for email content, Lead Magnets, webinars, and more – so that you can improve your marketing Start Your Free 14-Day Trial Zach GoldiePeople are usually surprised to hear that Zach studied and worked as a mechanical engineer. Through life’s weird twists and turns, he then ended up learning to write sales copy. Enjoying the puzzle aspect, figuring how best to match up the reader’s motivations with the product’s selling points, he now leads SegMetrics' copy and marketing efforts. ArticleHow to Track Email Opens in Infusionsoft’s Campaign BuilderWhile Infusionsoft gives great reporting on broadcast emails, and individual emails sent out, it can be difficult to get open […] ArticleThe iOS14 Update – What it means for digital marketersAs if 2020 wasn’t crazy enough, last June Apple announced that iOS14 would include a new App Tracking Transparency framework […] Article9 Must-Have CRO Tools To Use And Track Results in 2020Every marketer knows how important it is to constantly improve a website and track the results of your work. If […]