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internet marketing

What’s your web site?

by drm on October 18, 2010

Our work in lead generation and social media marketing give us a unique perspective on two different dynamics that are at play in the world of interactive marketing.

The first is the idea of creating a brand online.  This is like going shopping for a new set of fancy clothes.  You start with the intention, I want to look good, and then you keep trying on clothing until you look pretty much the way that you want.  (Or, you think that you look the way that you want, but that’s another story…some of us can’t ever quite get there.)

For web marketing, this means getting the kind of look and feel, feature set and whiz-bang cool things that let you say that your web site is a pretty cool looking set of duds.

NewImage.jpg

Of course, you factor in practical considerations.  After all, just like when you go shopping for clothing, you’ve got to stay reasonably close to your budget, and you’ve got to be able to sit down in it.  But, when push comes to shove, you are going to err in the direction of your heart.

The second is the challenge of converting online visitors into prospects and customers.  This, after all, is the paramount benefit of the internet, that you can provide prospective customers with the kind of information that they need in order to determine whether to work with you or buy your product.

This is nothing like buying a suit of clothes.  This is like trying to find recruit athletes to a Division III college.  You can’t give them a scholarship, you can’t influence admissions, but you need them to believe that you can give them a better experience than anyone else.  It’s about capturing interest, holding on to it and closing the sale at the right time.

That’s an entirely different kind of web experience.  Your web site isn’t designed on the basis of aesthetics; it has to be designed on the basis of data.  What are the images, information points and links that cause your users to take an action that is of an economic  benefit for you?

For most of us in business, that action is a phone call or a visit to our place of business.  And when the prospect already has gotten information that is important to them and decided to reach out and contact you, you have the highest odds of making that  prospect a customer.

As we’ve worked over the past year and a half with local businesses, we’ve discovered that there is a tremendous lack of understanding as to how to use a web site in order to create qualified prospects.  And, as we’ve  built social media footprints for our clients, and developed broader distribution of their content that has elevated their natural search traffic, we’ve found that very few have reliable processes for tracking and capturing those users.

Where do you start as a small business?  With taking the time to understand the simplest attributes of web tracking.  Anyone in business can use the Analytics tool from Google in order to track the activity on their web site.  That is your starting point.  If you are able to answer how many people are visiting your web site, what kind of things they look at most frequently, and how many of them are sending you additional inquiries, either in person, by phone or on e-mail, then you have the beginning of the information that will help you decide how to make your web site more than a pretty set of clothes.

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I’ve been intrigued by the dynamic of building lead volume in our Apartment Finder business over the past year.

As I’ve discussed before, the multi-family marketing business is a competitive, lead-generating business that is driven by consumer’s accessing print and online directories and inquiring about apartments for rent.

There are three ways that marketing companies like Apartment Finder hand customer leads over to its clients:  a phone call directly to the apartment community; an e-mail to an apartment community, either directly or through a leasing intermediary; a click-thru to the apartment community web site; and, a prospect who walks directly into the community leasing office without making prior contact.

This week, one of our biggest competitors in the space shared a few public metric related to their lead production.  According to their recent earnings release, the company increased leads 35% year-over-year, and currently produces more than 75% of their leads from their Internet and mobile platforms.

lead comparison.pngThat made me curious.  How did our metrics at Apartment Finder measure up?

The chart to the right shows the increase in lead production at Apartment Finder over the past year.  Overall, leads gained 43%.  Phone leads were up 25%, e-mail leads were up 169% and click-thru’s to property web sites were up 71%.

This data is derived from two third-party sources:  CallSource, which manages our tracking number program, and Omniture, which provides us with web analytics.

Most interesting to me was the distribution between leads from print distribution and from internet and mobile distribution.

At Apartment Finder, 53% of our leads, including click-thru’s, are driven by our Internet distribution and 47% by print.  Subtract click-thru’s, which can’t be tracked back to a specific individual, and the ratio drops closer to 50-50.

But the key issue isn’t what source the lead comes from.  The issue is how useful the lead is.

I had an engaging conversation around the relative quality of leads with a leading apartment marketer at the National Apartment Association Conference this past June.  E-mails that are generated as a by-product of creating an appointment to see an apartment had a high conversion, he said.  Phone calls to the community were the second best kind of lead.  And e-mail inquiries were the lowest-converting type of lead.

That means there are other metrics that can point to how good the lead generation of a marketing partner will be.  A big one is the percentage of phone calls to e-mail leads.

At Apartment Finder, 80% of our leads from print and internet are phone calls.  20% are e-mails.   That’s an exceptionally good ratio, I think.

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Increasing a focus on internet marketing for SMB’s isn’t enough; solving the analytics equation is a big challenge

May 21, 2010

An Emarketer analysis this week of two research studies concluded that social media was going to be a big focus on web marketing expansion by small businesses.
Our experience on the ground selling our DigitalSherpa service confirms the direction of the surveys.  Once we get into a discussion about how content marketing and digital networking can [...]

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Emerging local businesses spend 30% of their budget on digital marketing, driving a structural change in the market, BIA/Kelsey research shows

April 26, 2010

The landscape for local advertising, particularly by small- to medium-sized businesses (SMB’s) is undergoing a profound shift that is being masked in part by the overall downturn in advertising spending, two recent research reports from BIA/The Kelsey Group demonstrates. The key for local media companies is to segment the SMB client base in relation [...]

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Internet advertising shows strong momentum, and content helps to drive conversion

April 13, 2010

The recovering economy is driving bullish projections for online advertising. Two trends are apparent: the dollars will migrate toward the outlets with the largest and best performing audiences, and the trend towards leveraging social media tools in marketing continues to be a small portion of overall spend.
eMarketer has featured several research snippets and [...]

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The Kelsey Group examines NCI’s DigitalSherpa initiative

March 12, 2010

Over the past year, the team at NCI has been developing a social marketing service under the umbrella of Digital Sherpa for local advertisers. The service was launched commercially into the multi-family market last August and into the home design market in December.
Our attention over the past months has been focused on executing on [...]

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Most marketers look to social media to increase web traffic and improve results, a new survey shows

March 3, 2010

What’s the most important and tangible goal for marketers using social media? To drive web traffic, according to an ongoing benchmarking study conducted by the consulting firm MarketingSherpa.
73% of the more than 2300 respondents to the MarketingSherpa survey says they target the goal of increasing web traffic, and measure results against that goal, when [...]

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