1 "Am I Meeting My Goals?" A Study in Accountability - Conversion as a Process Southeast Tourism Society Thanks for joining us today. Your phone is automatically.

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"Am I Meeting My Goals?" A Study in Accountability - Conversion as a Process

Southeast Tourism Society

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Darryl WilsonPOP Class [email protected] Tourism Society

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Conversion…

Maximizing the value of marketing and research

Jack C. Yagerfor the Southeast Tourism Society

August 12, 2009

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Background

Marketer viewing research Direction Priority

Researcher viewing marketing Measurement Significance

Dispersion versus Clustering

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Conversion

Conversion = Success Converting = Action Conversive = Viability Converts = Transformation Conversing = Conversion

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Three dimensions of conversion

Time (when) Image (why) Action (what, how, who, where)

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How our brains convert

Right vs left Emotion and imagery Logic and attributes

Front vs back Processing Action

Conversion requires us to reach all four “corners”

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Conversion as a process

From “never heard of you” to “advocate” Incidences along the “road” Dimensions of time

Urgency/ NOW Priority

Dimensions of image Tuned Relevancy

Search for “sparks”

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The guiding force

Conversion as a guiding internal force in your decision-making

Is what I’m tracking going to: Move me faster to a “sale” Move me closer to the prospect Make me more efficient

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Conversion research begins with the ending

Critical factors What decisions are to be made What information is necessary How do I get that information How do I track that information over

time How do I make it information

Management attribute studies

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Pitfalls and Potholes

Avoiding over-spin Too much data Missing the point Simplify What’s the cost/ what’s the benefit/

what’s the value (branding comparison)

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Collecting information

Database of prospect information Database of guest research Tracking activity

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Metrics

Click through Time spent Target actions Retention Inquiries Micro-inquiries Visits Planned visits Financials/ ROI

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Search vs Re-search

Discovery methods Listen Strat planning Research by objectives Six sigma Open page Visual perspectives

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Drive down, around and up

Persona and core segmentation research Inside and outside data Demos, attitudes and interests, actions,

media, participation Analysis down to lowest level of significance Integration into outside sources (media) Build back up into personas Use personas for planning, strategy,

promotion, product, media, messaging

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Social marketing

Have a business strategy behind your social media tactics to drive real business SEO/SEM Website Online media Database Response Learn the technology Test/ avoid your own preferences Predictive modeling

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$’s and #’s

ROI and accountability Goal = Revenue per marketing dollar Intermediaries = Revenue per visitor Revenue per inquiry Per media source Per campaign/ per event/ per activity Action per dollar

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Knowledge builders

Areas of study Dollars spent Number of responses Number of visitors (actual/ potential/ long-term) Evaluation Likelihood/ timing of visiting/ revisiting Spending/ activities Group size

Value multipliers Long tail, big head

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Time as a conversion tool

Sooner better than later Fast = less cost The frequency multiplier effect

Reverse compound interest 1000 people * 110% = 1100 first year 1100 people * 110% = 1210 second year In 5 years = 1611 people = 61% increase

Seasonality Maintain price position

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Conversion checklist

Do I have a database (with emails) Do I know how much each one is worth Do I know why they might act Do I know who is acting when Do I know why each might act sooner Do I know what gives me volume Do I know what extends my reach Do I know what gives me frequency (sooner) Do I know what pays off

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Before you worry about conversion

Get your brand right first Then get a great strategy Then get someone to create the

messaging Then reach out, grab tight and bring

them in

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Conversion strategies

Convert people in the area to visitors(Business, medical, education, sports)

Convert residents to ambassadors Convert features to benefits Convert once to twice Convert low to high priority

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Expanding your point of view

Sense of urgency Blue ocean strategy Avoid the elephant fight Above and below the line

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Thank You!

Q&A

For more information:Jack [email protected]