All posts in “Conversions”

rolls of blueprints

Perfect Planning: Before and After the Promotion

The success of a promotion in any industry depends on the implementation of some general strategies that are relevant in all corners of business. Here are a few vetted tips that you can use to help improve the viability of a promotional campaign.

 

Before the Promotion

Are you sending the right traffic to your promotion landing page? You must be sure that you are optimising your target audience by streamlining it directly at a single source. Believe it or not, this is the way to expand your reach. You can also employ a multitiered strategy by using Facebook Ads, a PPC campaign and an email campaign that will bolster your overall exposure if executed concurrently.
Make sure that your traffic is targeted; the wide net strategy is not viable in any market. The more precise you are in targeting your niche, the better your promotional campaign will be. Make sure that you find your first responders at their preferred location as well.

 

During the Promotion

You must set the key performance metrics that you are looking to fulfill so that you can properly direct your promotion when it is in its active stage. This will help you to strategise your concept, making it more appealing to the audience that will be most likely to act like you want to fulfill your business objective.
Your campaign should also take advice from your previous campaigns – there is no reason to overlook the lessons that you have already learned in the past. Finally, remember that one of the most effective ways to create a higher conversion rate is to choose an engaging incentive and mechanic. Pay attention to how your audience responds to your lead ins!

 

After the Promotion

Do your customers know exactly what you want them to do after the conversion action? Are the directions on your promotion clear? Continue to direct your customers after the initial conversion, and make sure they receive what they opted in for.

 

Also are you using social media or emails to continue to drive customer engagement after the active promotion is over? Target the most enthusiastic of your new converts and empower them to spread your brand like an informal PR team.

 

These tips will definitely give you a leg up for your next promotion. However, here at Peazie we have run a few campaigns in our time. To create the ultimate competition that delights your customers and brings a value there are a host of things you need to think about from creative and data-driven campaign concepts, administration and permits, design and building, to tracking and optimising. Peazie has a reputation for partnering with top brands in many industries for creating premium promotion campaigns. With over 250 clients on board, Peazie has experience across the board as well, ensuring that your promotional campaign is built on the successes of the past!

 

Compass on spreadsheet

Campaign Tracking: What it is & How to use it

What is Campaign Tracking?

The modern methodology of campaign tracking goes back to a company named Urchin Software Corporation, a data management company that was acquired by Google in the year 2005. Urchin created the standard known as the UTM, or the Urchin tracking module. This tracking module sets today’s standard for campaign tracking, which is the organization of relevant data that comes from your social media pages and other promotional efforts.

Campaign tracking can take on any form that you wish depending on the key performance metrics that you set. If you are looking for the answer for how to increase company revenue, you will track a particular set of data. If your goal is conversions or impressions, the campaign of data that you track will be different.

Basically, you are putting eyes on the money that marketing says that you should spend. R&D and IT might have a point – those guys DO get carte blanche to say anything they want. No more! The data never lies.

 

How Do You Use Campaign Tracking?

Use campaign tracking to quantify your assumptions about how your key performance metrics are being met or not met. For instance, if you are trying to find out which social media network deserves more of your marketing dollars over the new quarter, then you should probably determine the network that drives the most traffic to your landing page. The secret is to focus your efforts on the data that is most relevant to the goal that you are trying to achieve.

Use tracking for bragging rights. If your marketing guys get into a friendly competition about who gives the best predictive analysis reports, bet on the next data tracking campaign – loser has to set up every report in Excel for the next month!

 

Why Use Campaign Tracking?

Not only does campaign tracking give you a benchmark for future predictions that are based in data, but you also give yourself a more effective platform on which to move in your current business efforts. When you are trying to sell a business, your tracking will come into question. Investors are just as interested in how you gather your data as they are in the data itself. Each channel that you are comparing can have its ROI tracked, so you can compare apples to apples for whatever metric you are trying to find.

Tracking solves arguments. Forget about office politics – take it to the spreadsheets. Data will shorten the time that your people spend talking about empty strategy and move people towards a singular goal, one that is agreed upon by the dispassionate computer. Save the emotions for the happy hour bar!

 

When Should You Use Campaign Tracking?

In short, use tracking whenever you can. It always costs a company less to analyse data than it does to play trial and error with marketing and development strategies. “A stitch in time saves nine,” as Aesop might say, meaning that “an ounce of preparation is worth a pound of cure.” Yes, it is bad form to define one pithy, taboo quote with another pithy, taboo quote, but you get the point.

Peazie is fast becoming an industry choice for promotional campaigns because of its ability to quantify analysis through quality campaign tracking. We organise campaign tracking for each promotion and competition we create. We manage the campaigns from end-to-end and advise how to optimise your traffic during the campaign to ensure the best quality leads, and highest amount of leads.    

 

perfecting your promotion

6 KEY takeaways from ‘Perfecting your Promotion’

A couple of weeks ago Peazie had the pleasure of presenting at the ‘Perfecting your Promotion’ event held by our friends at Plexus. It was a great turnout with many insights into how to leverage data to improve your promotions. For everyone who couldn’t make it here are the top 6 key takeaways from Peazie’s presentation:

 

1. Lead with the benefit

“Win XYZ” (what you win) should be your headline act, not “Buy XYZ” (the behavior you want to change).

Peazie has run thousands of campaigns, so we know what works and what doesn’t when it comes to writing headlines for a promotion. Clearly stating what a person will be gaining from entering the competition always works a lot better than using a headline that states why you want them to enter your competition. Remember everyone’s favourite radio station: WiiFM (What’s In It For Me)

 

2. Simple entry mechanics

Remove as many barriers to entry as possible. Do NOT run games of skill. You can ask for more effort or data from a consumer, but make it simple and fun otherwise your audience will ‘bounce’.

This is very simple to understand, the more barriers and friction there is to someone entering your competition, the less likely they will enter it. Our job as marketers is to design a promotion that removes as many barriers as possible.

 

3. Perceived attainability outweighs total prize pool

Counter intuitively, 10 x $10 performs better than 1 x $1,000… And instant win out-performs grand prize draws every day of the week – because we humans are impatient.

Having a large grand prize drives a lot of attention for a promotion, however we have examined the data from running thousands of campaigns and it consistently shows offering multiple smaller prizes actually gets more conversions. Reason being when people think the odds of winning is in their favour they are a lot more likely to enter a competition

 

4. Decide what’s more important – quantity or quality

Whilst cash drives the highest quantity customer acquisition, an incentive that is only of value to a good customer will drive better quality customer acquisition. If possible, measure the quality of your acquisition in real-time and optimise against it.

We have tried many different prizes over the years, we know cash works well with a mass audience. The freedom of choice that cash brings leads to a higher conversion rate. However when working with a niche target market, choosing the right prize, that is highly valued by the entrant will give them the incentive needed to supply their personal information to enter the competition.

 

5. Measure everything and optimise

3 banner ads targeted at 3 different audiences driving people to 3 pages = 27 campaign variants. Without exception, One of those variants will work MUCH better than another. Tech has made this level of real-time optimisation easy.

One of the biggest advantages of being a marketer in the digital age is that there are multitude options for advertising platforms. Platforms such as Facebook and Google Display Network allow great targeting, great reach, and multi-variant testing options. Ads should be tested, measured, and then optimised for ultimate performance to drive the best quality of traffic to ensure a highly successful campaign.     

 

6. Repeat your successes

Again, modern tech has enabled us to step-and-repeat great promotions. As marketers, we also know that frequency drives recall and saves us cash – so if you can avoid building a new promotion, step and repeat an existing success.

The reason Peazie can give any business a competitive advantage is that we have collected data on every single campaign we have conducted. We know what works, and what doesn’t, and you can be rest assured any campaign we create for you will apply the latest in data-driven promotion design.

 

Close up of a happy young women working together

Does Prize Value Impact Conversion Rates?

Choosing the right incentive is crucial for your competition. It sounds obvious, but it’s surprising how many get it wrong, spending thousands on a single prize in the belief that value – in a financial sense – will lead to increased conversions.

 

It might surprise you to know this is simply not the case. In fact, our data suggests that a single, more expensive prize in the $5k – $10k bracket drives around 10% fewer conversions than a simple $50 gift certificate. So here are a few things to keep in mind before you drop your entire marketing budget on your next huge prize.

 

Perception trumps reality

 

Perception is everything, regardless of the facts. As a competitive species, we gravitate toward scenarios where we are most likely to win. So even if the odds of winning a car or holiday are the same as winning the $50 gift certificate, for some reason the perceived odds favour the less expensive prize.

 

Give it a go! In your next competition, try offering something simple, over something lavish and expensive and see for yourself.

 

Volume trumps value

 

Another interesting takeaway from our data is the impact prize volume has on conversion rates. Having more than one prize up for grabs, even if they are lower in value, has a huge impact not just on conversion rates, but also on referral conversion.

 

Thinking about it logically, this makes perfect sense. Although we are competitive, we love to share experiences. After all, there’s a reason social media is such a big business. So while a single prize plays on our competitive streak, multiple prizes play on our want and need to share experiences within our communities, and friendship groups.

 

Goals trump everything!

 

When it comes to any campaign, it’s important to keep your business goals in mind. The majority of our clients seek to drive conversions and optimize conversion rates. If that’s your goal, spend $500 on 10 gift certificates, rather than $5,000 on something outrageous.

 

You can read some of our case studies here!  

 

Sometimes you might want to give away something lavish and outrageous, be it for PR or simply to improve brand perception, and prestige. Let’s face it, a $50 gift certificate won’t carry the same prestige as giving away a holiday, or a car.

 

If your business goal is to increase prestige, you’ll likely do better with a more expensive incentive. However, if you are dead set on a lavish, expensive giveaway, but worry about conversions, up the volume with some less expensive consolation prizes.
We hope these little golden tips help you understand how competitions can be run better. If you are still hungry for knowledge, get in touch with us at Peazie!

 

 

Students taking a multiple-choice exam

4 Reasons A/B Testing Is Super Important

When it comes to optimising and validating your marketing campaigns, few things are as effective and overlooked as A/B testing. It’s the unsung hero of conversion rate optimisation.

At it’s core A/B testing – or split testing – involves presenting variants of landing pages to understand which performs most effectively, through tracking user behaviour and interaction. Basically, this means you can understand what your audience responds positively to, and identify what leaves them bouncing away.

 

It sounds simple, and like most things it’s not difficult if you know what you’re doing. But let’s be real. If you understood how to use technologies that offer up A/B variants, and allow you to track conversions from each page, chances are you wouldn’t be checking out a blog post titled: Why A/B testing is super important for your next campaign.

Even with free tools such as Google Analytics at our disposal, A/B testing is a daunting prospect, often outsourced, or overlooked altogether. The truth is that if you’re not A/B testing your campaigns, you’re doing yourself, and your campaigns a terrible disservice.

Don’t believe us? Here are our top 4 reasons why A/B testing is super important for your next campaign?

 

Gain insights and adapt instantly!

Traditionally, the success or failure of campaigns rested on impractical statistics and performance data. Quarterly stats that showed how many people converted through the DM you hedged your marketing budget on, only to find your audience converts better through display ads.

With A/B testing, the days of wasted time, effort and budget are gone. Now you can hypothesise, test and optimise in an easy, efficient way. Gaining quantitative feedback, and iterating changes instantly.

 

Be awesome while protecting your budget
Despite the obvious benefits to business growth, marketing departments are notorious for being laboured with tiny budgets. Not wanting to throw away huge chunks of that budget on whims and supposition, marketing becomes safe. It becomes tried and tested methods that provide the most ROI based on partial data.

With your A/B insights, you can throw caution to the wind and come up with some awesome new marketing campaigns that you know will work, while protecting those all important pennies.

 

Stop guessing, and provide real numbers

Do you really know why people used the coupon in your direct mail campaign? Why they call your competition line, or how many times they watch your display ad before making a purchase decision?

A/B testing removes guesswork and supposition. Now, when you’re asked to present the numbers to your CFO, CTO, CMO, CEO, COO or other acronym, you can offer hard, quantitative evidence. A/B testing means you can show what works, why it works, and how that can be implemented in your wider strategy.

 

Understand what visitors DON’T tell you

My favourite reason for A/B testing is it can provide actionable insight into your audience instinctual, and subconscious behaviours.

Collecting full, honest insight data through forms and focus groups is impractical, and highly implausible, even for the modern day marketer. It’s widely accepted that these methods only really tell half the story.

A/B testing offers a window into the other half. Subconscious preferences, instinctual motivations and deterrents that under any other circumstance would be overlooked. Now these things become quantitative data.

 

Over to you!

The truth is that A/B testing is vital for any serious marketing campaign, as it offers incredible, actionable insights into your audience behaviour that simply isn’t available anywhere else. Do yourself a favour, stop guessing and start A/B testing.