Tom Levers

The ROI Calculator and Your Web Site

Posted in DEMAND GENERATION, MARKETING, PUBLIC RELATIONS by Tom Levers on September 23, 2009

Sales / Marketing Tools
Sales / Marketing Tools

 

Often the goal in a business to business sales process is to sell using a method of defining return on investment or using a configurator to cost justify so that you can educate and take a leadership role.

Often the key question is… can we determine a  metrics path that will yield an ROI? 

One approach is to use  a  form or spread sheet process that must be completed in order to self guide the understanding of value.

The one key caveat is to capture leads prior to completion of the  ROI process. Note that the call to action must be at the top of any web page.

Typically the length to protect against abandoment must be limited. So actions that make assumptions like Seven reasons to choose XYZ  will help reduce the complexity by building in more common assumption. 

Treatment

The best approach is for the form to have  more steps, but the steps are greatly simplified.

The treatment can make the ROI the main focus of the landing page and include an email capture at the beginning to facilitate the recovery process.

Conclusions

The main goal is to acquired more ROI completed unique visitors. So almost everyone that started the ROI process finished.

This  implys that reducing friction was the main reason for completion. This is accomplished by:

  • Limiting the number of questions and making all questions easily answered with drop-down boxes reduced friction dramatically.
  • Submitting your metrics and getting a comparison based on other replys.

What Next?

Also, consider that not every valid prospect is sales-ready at the same time.  Some people who are in the initial stages of researching before they buy and may not be aware of an ROI education process.  Consider ROI calls-to-action that provide information to early stage buyers without requiring them to go through different complex ROI processes.

Transferable Principles:

Whether your market is B2B, B2C, or both, the following principles can guide the testing phase of your ROI optimization cycle:

  • Use a specific goal or hypothesis – the improvement you want and how you hope to achieve it. Identifying whatyou need begins with knowing what you want to achieve.
  • Predict as many secondary metrics as you can imagine.  For example, consider how adding images may affect page load time, a prospect’s perception of value and eye-path.
  • Check and recheck to make sure you are using the correct metric for your goals.  After performing a test, consider if there is another way to measure results.  For instance, decide whether measuring user engagement is best done by looking at time-on-page, clickthrough, or by tracking return visitors, or using heat maps.
  • Take the time to  follow-up metrics. They will help you evaluate if your optimization translates into long-term gains.
  • Be discriminating with your metrics and analytics. Focus on relevance and insights rather than data overload.  Prioritize the data relevant to your immediate optimization goal.

Summary:

Focus on the before-and-after of your ROI process.  The following points will help you identifythe pitfalls to avoid and protect the integrity of the ROI development process.

  • Recognize whether the barriers to your ROI lead optimization process are internal or external.
  • Cast yourself as a customer advocate and walk through your own ROI lead conversion.
  • Avoid interruptions in the conversion path—elements that stop the momentum. 
  • Beware of factors like bias, impatience, and extrapolation in your interpretations of ROI data.
  • Strive for environmental stability.

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