589: Use These KPIs to Measure Every Stage of Your Funnel w/ Alex Lirtsman

ABOUT THIS EPISODE

In this episode we talk to Alex Lirtsman, Co-Founder and Chief Strategist at Ready Set Rocket.

This episode was based on this blog post.

There's a ton of noise out there. Sohow do you get decision makers to pay attention to your brand start a podcastand invite your ideal clients to be guess on your show, learn more atsweetfish media dotcom, youere listening to the Beeta, begrowth, show a pottast dedicated to helping bee to be executives achieveexplosive growth, whether you're looking for techniques and strategiesor tools and resources. You've come to the right place, I'm James Carberry andI'm Jonathan Green. Let's get into the show, AH BLAH BLAH BLAH BLAH welcome back tothe bby growth show. We are here today with Alex Lertsman. He is the cofounderand chief strategist at ready, set rocket Alexe doing today. I'm doinggreat thanks for having me on I'm Stok to chat with you today Alex we're goingto be talking about the the traditional btab marketing funnel against the moremodern thing that I've been hearing a lot of people talking about recently,which is this idea of the customer journey and how D we map the customersjourney, but before we get into that live for you to explain to ourlisteners, just give them a little bit of context as far as what you and yourteam are up to at ready set rocket. So it thinks for having me on wear offfull service DITRAL agency ALLETI. We held brands and enterprises figure outhow to BU connect with their consumer all the way from Grand Awareness,speaking of a traditional, funnel all the way through how they stay engagedwith a customer and really create a deep relationship with their customersand so for us. A lot of this is very fudtle based, but it's also based onactual customer research and understanding. PATESOF brand reallyneed to connect a really resume with a customer through that entire customerJorney. I love it so so Alex I want to start by of talking about thetraditional marketing funnel explaine...

...to our listeners, ee Gona h how youthink about the traditional marketing funnel and then we're going to get intowhy it's necessary for us to evolve our thinking beyond that, but t, let'sstart with the marketing funnel itself. Well, I think the marketing foulsalways been absolutely critical if you cant, F, start driving sales untilsomebody's aware of your brand and the traditional marketing funnel always hada prominence of explaining in a really simple way that if you don't haveawareness of o your brand, it's really hard to try, favorability and andconsideration, and then finally, conversion or sales. So it served twopurposes one. I sort of understanding Huwe frame up, even the audiences thatyou want to talk to. How do you drive them all the way from awareness tosails? But the second thing which I think drives upon the value of lookingat a traditional markting funnel, is tak eyes that are matched to specificstages of that funnel. So when somebody is talking about, why is our socialcampaign? Not Driving sales, it's a easy thing for a marketer to look at atraditional fundal and say because a social campaign is probably or a brandawareness. Camping is primarily focused on brand awareness. So if we want tohold that campaign accountable for its success, it probably wouldn't be salesand probably would be brand mentions or content shares or a visitor storewebsite. Whatever sort of are more topoffone metrix are, and so that wasalways and still has an incredible place, an explaining a framework of howdo we drive? How do we drive a consumer all the way from awareness toconversion, and then the second part is, as I mentiond is tesigning CPI, toevery single stage of that funnel got talk it more about assigning Kpis toevery stage of that funnel. Can you walk us through some examples, maybe ofwhat that could look like? Yes, so...

...typically, when we're starting out andsomebody's not familiar with your brand a lot of times before you could askthem to purchase something, and especially in the beagebe context, theyhave to be familiar with the brand. They have to at least have heard aboutyour brand before you can ask them to purchase most of the time. You needmultiple touchboins so from in the wereness standpoint. How many times hasthis AH unique user or this prospect? How many times have they seen our brandin the wild right, whether it's been on a display billboard a shared piece ofcontemt sort of whatever it is right, and then your track and Cape the eyesaround purely around brand awareness, and so it might be unique visits to ourown properties. It might be content shares. It might be the number ofsocial followers brand matchos whatever it is right, so you Nid to make surethat somebody at a very high level is at least aware of your brand before youcould start having got start really truly prospecting them and then fromthere as you move on to okay, this is sort of something that I might havesome interest in an based on the content that I've seen on their websidebased on the videos. I've Seen Baonthe a newsletter that I'm receivingwhatever it is. I'm starting to think about this brand from a favorableperspective. You still might be to do a level of research and considerationButr at least they're part of your mindset, and you have a positiveconmentation with their brand. So the CAPEYES that youare starting to trackaround us are a little bit more engagement, focus and things that aredriving Bin, a favorability and then fom there, you H. Typically, we thinkof somebody is moving from favorability. They have, they probably think of yourbrand favorably and we're they're now, starting to really do a little bitdeeper research in consideration so for Beter B brands. It's a lot of whitepaper downloads are probably doing some...

...demos thre, they might be H. Jumping onthe web, Anar might be an online shaw, they might be opening up emails sharingemails, that kind of thing and that's wher, they're, really sort of Deepin.This consideration pace and again, if you're running an email marketingprogram you shouldn't be focused on well, is my email marketing program,which is doing a fantastic job. Probably in driving consideration is atEma, martining program generating sales. That would probably be a littlepremature, predigr Oma marketting programmed to to be doing that for you,but it can absolutely drie consideration right and you try to eatmeasury consideration appropriately having some primary keepy eyes or Beshmark that you want to hat that are really focus on consideration beforeyou move into a traditional conversion event and ha traditional conversionamanttypically. How many? How many former submissions or contact formsubmissions? Am I getting? How many phone calls am I getting from the siteright and so maybe you're using up a tracking phone number? So you can seeall the touch points that led there, but still along the way. What you're?What you're focusing on is by this point. There have been multiplethings that happen along this funnel that have have gotten me there rightand soow how you are optimize in your forms towards your Kpi of ah formsubmission and a tow becomes your primary TPI for this a part of thefunnel. I love the idea of having specific Capeyes for every part of yourfunnl, but I want to spend the rest of this interview Alex talking about thethe transformation toward a customer journey mapping. Can you talk to thisabout and one of the shortcomings of of the traditional funnel and how has thatbeen seguayed into the importance of customer journey mapping? So there hasbeen the evolution ofacy. Consumers are...

...more informed because they have greateraccess to useful information and so the typical funnel of somebody's goingthrough themotions that I just thought stress that still needs to happen, butit can happen in a much more rapid iteration does it might happen the sameday, you're still sort of exposed to the brand and then you're going throughthis orney but you're as a as a consumer you're going through thatjourney at your own pace right and show what the funnel does a grate job of is.It creates a framework it Allis. You in organization, explain how a customerhow a customer first becomes aware all the way down to conversion, but thatdoesn't really but the flootside of that. It's about your marketingorganization, it's not about the customer right. So if we're sort of, ifwe're moving away from this age on one way of communication and it's aboutdialogue and it's about relationships versus leads and it's a little bit abecomes less transactional in nature, the customer journey is sort ofdisevolution from taking a funnel a to really adapting into. How is thecustomer really engaging with our brands so forget about minds as anorganization or how I believe her? She should be marketed to it's about? Well,how does this really work for that? And it's very imnostic of my needs as as acompany right, and so it's putting that user purse and I think, obviously, traditional funal easy wayfor business is to categorize Gabes Aline, then high level, business,objective, wbut, the CONSARE, it's super oversimplified for construe,consumer behavior and purchas behavior is also rarely linear. So the process,I walk, you throw that's a niyield process when you're having to sort ofas a marketing organizition. This is at we bi, but the focuses a still on thebusiness at's, not on the consumer and...

...the and goal is the purchase and thesale or the transaction, and it's really not focusd, on sort of what ishappening, postadly right and so the customer journey really s a way ofhaving an evolution from that and having that focus on a holist customerlifetime, Vallu or hirer. You managing that relationship all the way throughit's user centric in nature, so you culd also gain greater insights out ofit, and you can focus, as I mention on the userexperience oir minds et their motions as they navigate the journey. I love it.Could you walk through maybe an example of oither, a clint of yours or I'd love,to hear a tangible example of the shift from thinking about it only from thetraditional funnel perspective into really mapping out a customer journey?Yes, so I think this supplies to pretty much every single customer that we'reengagewent, I think a lot of times where we're brought in they are tryingto solve a challenge. Our problem, the challenge, is usually impacting aspecific part of of the funnel, and so the conversation, as always starts withwe are not getting most a lot of time. Its we're just not driving enoughtsright and s typically conversation, that's had is OK. If we could only dotwo things, can we widen the funnel, so we can drive more leads through and canwe fix the funnels, so it's working harterhts and where sort of theevolution has come about. One example is h: We were with Large Media MediaCompany, third largest media company- in the U S, and so when they came to us,it was h their anticipation is. We would do two things for them as wewould widen the funnel, so they could communicate their value and their offering andtheir reach to more media buyers, media...

...planners and then maybe sort of createa program to fix toaut through marketing. armation things like this,and so we came back to them with, is well that's tha, right thinking, butmaybe what we need to do is sort of understand what the customer actuallywants before we introduce ourbiasis and it's very easy to sit in the boardroomor even as an agency, and think that you understand the customer thing Dabase on some high level researcher insides, that you really understandtheir journey and so typic. So what we did was we actually broke down thajourney of all of the things that need to happen before somebody submits Ta,lead and so from an analytics perspective. One an all of the pagesthat were touched before somebody ever submitted to lead whater. How manytimes are they actually interact with any of their properties but websiteproperties, weabenrs every single part of their relationship before they before they became a client and socoming out of this from the user's pe perspective, from both and andanalytics, and the crmprospective joining both identified, anunidentified data to say this is what their journey actually looks it beforewe start tweaking. Any part of that journey is the most critical piece andthen you ere really able to take their mind set in, and I think it's it's apivotent mindset, more than anything else, to sort of think about it from acustomer pespective versus from yours. So when I was talking about earlier ofall of the pieces of that funnel, if you were to rebuild as as a customerjourney, anawareness were really focused a lot on content marketing. Youmight have some tangential searches that have nothing to do with your brandthat are driving people to discover your brand you're thinking about sortof like prospecting campaigns right but, like those are things that we wouldnever even think about...

...unless we actually took a stuf back andsay: Okay well, for our court of leads and relationships that have turned intosubstantial relationships. What what is the process that they went through andso can we then optimize the journey so that process becong be replicated yes,that process can be replicated and highly scalable, and I think sort ofthis w a lot of times we're thinking about this Az allright. What do wethink is the right solution versus thinking about Er is like what has thecustomer? Actually demonstratit was the right solution to dry, a long termrelationship, and then how do we scale that optimizand scale that forwardAlexis has been really really helpful? If there is somebody listening to this,they want to stay connected with you, or they want to learn more about ready,set rocket. What is the best way for them to go about doing both of thosethings, so I'm Alex already set rock in com, but I will say that base on whatwe just talked about will put up a quick article, that sort of summarizeseverything. If you go to beaterbe journey notready set rock in dot com,you can see sort of that evolution from a traditional Finnal, which I, as IShud, still important to the customer journey base, way of thin its beatebejourney, not ready, set Rocki, dotcom and then fe free to shoot me an email.If you have any questions, Alance Eveybay, Sai Rock. I like thank you somuch foryour time today. This has been fantastic, so I really appreciatit t to ensure that you never miss anepisode of the B to b gross show subscribe to the show in Itunes. Wereyour favorite podcast player this garantees that every episode will getdelivered directly to your device if you'd like to connect with be to beexecutives from all over the world make sure to join our private facebookcommunity. There are some incredible conversations happening inside thisgroup to join visit B, TA B Growth Show...

Com, slash, FB. Thank you so much forlistening until next time.

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