Day: October 22, 2020
Why aren’t more companies using marketing automation? A recent survey from Liana Technologies found that 60 percent of respondents said they didn’t know how to use marketing automation. They listed a lack of know-how as the main reason they weren’t adopting marketing automation campaigns. Half of those surveyed also listed a lack of strategy or …
Your bounce rate can be such a scary number, right? It’s common knowledge that a high bounce rate is bad, and a low rate is good. Every time you log into your Google Analytics account, it’s right there waiting for you. I understand the feeling when you see that number creeping up. But the problem is …
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The post Bounce Rate Analytics: How to Measure, Assess, and Audit to Increase Conversions appeared first on ROI Credit Builders.
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Your bounce rate can be such a scary number, right?
It’s common knowledge that a high bounce rate is bad, and a low rate is good.
Every time you log into your Google Analytics account, it’s right there waiting for you.
I understand the feeling when you see that number creeping up.
But the problem is that numbers can be misleading.
After all, how high is too high, really?
In this post, I’ll show you how to fully measure and assess your bounce rate. That way, you’ll know if it’s actually too high for your industry or if it’s perfectly normal.
I’ll share tips and tricks on how to audit your bounce rate and understand what’s driving it up.
I’ll also tell you some of my secrets for lowering your bounce rate.
But first, let’s talk about exactly what a bounce rate is and why you should care.
What is a Bounce Rate and Why Does it Matter?
A “bounce” occurs when someone visits your website and leaves without interacting further with your site. Your bounce rate shows you the percentage of your visitors who bounce off of your site.
By default, Google Analytics considers a visitor to have interacted with your site if they visited at least one additional page.
The bounce rate you see in your overview report on Google Analytics is your site-wide bounce rate.
It’s the average number of bounces across all of your pages divided by the total number of visits across all of those pages within the same period.
You can also track the bounce rate of a single page or a segment or section of your site.
I’ll show you how once we start looking at the different segment reports.
The bounce rate of a single page is exactly what it sounds like. It’s the total number of bounces divided by the total number of visits on a page.
Inspired by common questions that we’ve heard, this infographic provides answers to the most asked questions about bounce rate and provides tips to help you improve your bounce rate.
If you run an e-commerce site with a blog, you may want to implement a segmented bounce rate.
Your blog posts may have a very different average bounce rate than your product pages.
We’ll get into the exact details later, but segmenting the two can make your numbers more meaningful when you’re looking at the data.
So, why is bounce rate important?
According to SEMrush, bounce rate is the 4th most important ranking factor on SERPs.
However, Google does not use bounce rate in its algorithm metrics, according to Google’s Gary Illyes:
We don’t use *anything* from Google analytics in the “algo”.
— Gary 鯨理／경리 Illyes (@methode) June 26, 2017
Can they both be right?
Yes, and I’ll tell you why.
Google’s algorithm may not directly take bounce rate into account, but what it signifies is very important to it.
As of 2016, RankBrain was the third-most important ranking factor of Google’s algorithm.
If you’re not familiar with RankBrain, its main purpose is to improve users’ search results by better understanding their search intent.
If a user clicks on your page and leaves without any interaction, that could signal to RankBrain that your site isn’t what they’re looking for.
It makes it look like your result doesn’t match the searcher intent well. As a result, RankBrain says, “Maybe this page shouldn’t be so high in the results.”
Can you see how these connect?
If you understand bounce rate properly, it can tell you if your marketing strategy is effective and if your visitors are engaging with your content.
The key is to understand what your “target” is and break down your bounce rate in a way that provides meaning.
What is a Good Bounce Rate?
Many different variables determine what a “good” bounce rate is.
Things like your business type, industry, country, and the types of devices your visitors are using all influence what a good average bounce rate would be for your site.
For instance, Brafton found that the average bounce rate is 58.18%. However, their research shows that bounce rates are higher for B2B businesses than B2C businesses.
These benchmarks show a wide range of average bounce rates across industries:
If you’re still unsure about the bounce rate you should be targeting, Google Analytics can help you figure it out.
Google Analytics provides a quick visualization of the average bounce rate for what it believes is your industry. It does this by benchmarking.
First, you need to set up benchmarking in Google Analytics.
Under the admin section, click on “Account Settings” and then check the “Benchmarking” box.
Now you can compare industry averages.
Just navigate to your behavior reports. Click on “Site Content” and then “Landing Pages.”
You’ll immediately see the average, site-wide bounce rate.
Of course, a site-wide average can be too broad to be a valuable benchmark.
You can drill down further to view section-specific bounce rates.
With either the Content Drilldown Report or the advanced filter feature, you can see the average bounce rates for your site sections.
For example, now you can compare the industry average for just your blog or product pages.
In the “Audience” section of Google Analytics, go under “Behavior” then “Benchmarking.” Then, select “Channels.”
Now you can choose your vertical and compare whichever time period you want to review.
This should give you a better idea of your website’s bounce rate performance compared to the average by channel.
The chart above compares your channel bounce rate against other Google Analytics accounts or properties in your industry.
If you want to look deeper, you can do so by going into “Acquisition,” then “All Traffic,” and then “Channels.”
Then click the “Comparison” button on the right and filter by “Bounce Rate” to see which channels are above or below average.
You can then dig even deeper into each one for further analysis.
Ultimately, a “good” bounce rate will be different for every site. It may even be different for every page on your site.
I suggest you focus on your bounce rate trends over time and how you can improve the highest ones to boost conversions.
The focus should be on using this metric to find weaknesses in your site. Don’t worry about hitting a magic number.
Now, let’s look at how you can improve your bounce rates.
Modifying Bounce Rates
Your site-wide bounce rate is too broad to be anything but a vanity metric.
It’s too shallow to provide meaning.
To measure and assess your bounce rate, you need to narrow it down and group it by different variables.
You won’t be able to start lowering your bounce rate until you really understand what’s causing it to be high.
You can modify the bounce rate metric you see in Google Analytics in a couple of ways.
As I already mentioned above, the first way is by segmenting your bounce rate.
We’ll look at nine different segment options that will help you assess and improve your bounce rate.
Segment Bounce Rate by Age
There are plenty of different demographics that Google Analytics tracks, which allows you to better segment and analyze your site traffic.
One of these is the age range of your visitors.
To look at bounce rate by age range, look under “Audience” and then “Demographics” on the left-hand sidebar. Then, click the “Age” option.
The resulting report should look something like this.
Now you can easily see if your bounce rate is higher with a certain age range.
You can see in the example above that seniors (65+) have a much higher bounce rate than the rest of this site’s visitors.
If seniors are part of your ideal target market, make sure that you structure your web pages properly for marketing to them.
For example, avoid using jargon, trendy language, and slang.
Segment Bounce Rate by Gender
The “Gender” option is just below “Age” on that left-hand menu.
This report tells you your bounce rate for males and females.
You can now easily see if your site is better at retaining one gender over the other.
Gender targeting with tactics such as different language and colors can impact viewing and purchasing behavior.
If you have a higher bounce rate with one gender, make sure you’re not accidentally creating the perception that you’re only targeting the other sex.
Segment Bounce Rate by Affinity
The next option in the “Audience” section is under “Interests” and then “Affinity Categories.”
This groups bounce rate based on visitor interests.
Check out which affinity categories have the highest bounce rates to see if you’re losing out on key marketing groups.
You can see in the example above that this site is engaging best with business professionals and shutterbugs.
Engagement with music lovers, movie lovers, and green living enthusiasts is the poorest.
This knowledge can now help you better target those groups with your imagery and content.
Segment Bounce Rate by Location
Still in “Audience,” just under “Interests,” you’ll find the “Geo” section. Within that, you can click on “Location” for another segment report.
First, you’ll see a color-coded map that shows you where most of your visitors come from.
Below that, you’ll see the table version breaking down your visitors by geographic region.
This gives you your bounce rate by country.
In the example above, you can see that Australia and the UK have much higher bounce rates than the other countries.
You can drill further into it to see if certain provinces are engaging worse than others. Then, you can adapt your marketing strategy to target areas where you want to see improvement.
Segment Bounce Rate for New Visitors
A good segment to check out is the “New Vs. Returning” breakdown. It’s also in the “Audience” section under “Behavior.”
Now you can see if your new visitors are bouncing at a higher rate than your returning visitors.
I would expect your new visitors to have a higher rate.
To get more value out of this segment, you can view the acquisition source as a secondary dimension.
Just click on the “Secondary Dimension” drop-down list at the top of the table and select “Source” from the list that appears below.
We’ll talk more about acquisition in a minute.
Segment Bounce Rate by Browser
The browser breakdown report is a good way to see if you have any technical issues causing your visitors to bounce.
In the “Audience” section under “Technology,” select “Browser & OS.”
The report should look like this:
If one browser has a higher bounce rate than the others, that might indicate that you haven’t configured your site well for that browser.
You also need to consider versions of browsers. For example, don’t just check Internet Explorer. Check across versions 8.0, 9.0, and 11.0.
If one has a noticeably higher bounce rate, your site might have bugs or UX issues with that browser.
Even if it’s an outdated browser, you will want to fix the issue if the browser is still bringing you traffic.
Segment Bounce Rate by Device
Underneath the “Technology” section, (still under Audience), you will see the “Mobile” section. Select “Overview” to see your bounce rate across devices.
This will give you a bounce rate comparison between desktop, mobile, and tablet.
If you find out that your bounce rate is significantly higher on mobile or tablet, it may indicate that you haven’t properly optimized your site for those devices.
You can also view the “Devices” report. This further breaks it down by mobile brand and operating system.
For example, if you find that Apple users are bouncing at a higher rate than Android users, you might have some design issues.
Pay attention to individual device models as well.
Focus on trends and device release dates. For example, you might discover that your bounce rate is fine for Apple devices in general, but it’s too high for the latest models.
This may indicate that your website isn’t compatible with the newest Apple OS.
Segment Bounce Rate by Acquisition
Now, let’s look at segmentation by acquisition rather than by audience.
Go to “Acquisition,” then “All Traffic,” and then “Source/Medium” in the left-hand menu.
The table at the bottom of your screen should look like this.
It will show you a breakdown of where your traffic is coming from and the associated bounce rates.
Take a look at the sources with the highest bounce rates to see if there’s a trend.
Here’s an example where you can see that the paid advertising campaigns have a much higher bounce rate:
Either your advertising targeting is too broad, or your landing pages are not lining up very well with your ads, resulting in a higher bounce rate.
Segment Bounce Rate by Landing Page
The final option we’ll discuss is segmentation by landing pages.
In the left-hand menu under “Behavior,” click on “Site Content” and then “Landing Pages.”
The resulting table shows you a breakdown of your landing pages and their average bounce rates.
You might find that one page has a much higher bounce rate than the others.
Visit that page and look for any design problems or issues that might be making it less effective than the others.
Make sure you haven’t forgotten any key steps to optimize your landing pages for conversions.
Now that you know the different ways that you can segment your site traffic, I’ll show you how you can create adjusted bounce rates.
How To Create Adjusted Bounce Rates in Google Analytics
You can adjust what Google Analytics considers an interaction. This will directly impact your bounce rate.
For example, you might feel that a visitor has interacted on your site if they watched a video.
In Google Analytics, you have the option to set an event like playing a video, clicking a button, or completing a download as an interaction.
Then, users who complete these “events” will no longer count toward your bounce rate.
However, you need to careful with this. Make sure that automated events don’t skew your results.
If you’ve set up your videos to play automatically, you don’t want to count video views as interactions.
The simple way to modify how Google records interactions is by sending events into your Google Analytics that tell you when a user spends a certain amount of time on a page scrolls through a certain percentage of a page, or sees a specific element on the page.
You can send events from Google Tag Manager:
1. Adjust Your Bounce Rate Through Scroll Percentage Events
The “Scroll Depth” trigger allows you to create custom events based on how far a visitor scrolls down a page.
First, you need to create a new tag.
Then, name your tag, select “Universal Analytics” for tag type and choose “Event” for the track type.
Next, you need to type in the event category and event action.
To get the action, simply click the small plus sign beside the field and select “Page Path.”
For the event label, pick “Scroll Depth Threshold.”
If you don’t see this option available, go to your “Built-In Variables” screen and enable the scrolling variables:
Now, select “Non-interaction Event” as “False,” and add in your UA tracking ID.
If you’ve completed all of those fields, it should look like this:
For this tag, I recommend setting the scroll to 75% of the page. That means that Google will consider a visitor to have interacted on your site if they scroll 75% of the way through the page.
Make sure you’ve selected “Scroll Depth” as the trigger type. Then, in percentages, put down “75 percent”.
Once done, you can save, preview, debug, and then publish.
2. Adjust Your Bounce Rate Through the Timer Function
You can also decide that Google should consider a visitor to have interacted on a page if they spend a minimum amount of time on the page.
Create a new tag and give it a name, such as “UA — Adjusted Bounce Rate — Timer.”
You can choose the length of time that you want to start with. I suggest starting with 30 seconds.
To do this, add a new trigger and name it “Timer — 30 seconds”.
The interval is in milliseconds. So, for 30 seconds, you need to put enter “30000.”
Select a limit of one. Then, in the conditions section, set it for “Page URL matches RegEx*.”
This will make it so that Google Analytics includes all of your pages in the tracking.
Make sure you save, preview, and debug before publishing.
Other Methods for Decreasing Bounce Rate
Here are some more ways to see where visitors are bouncing and how you can use that information to boost conversions.
Review Top Exit Pages
Another report you should check out is your top exit page report.
You can find it right below the landing pages report on the left-hand menu.
This report will show you what pages people most often abandon your website from.
Take a look at your top traffic pages and compare your bounce rate and your exit rate.
This will show you who’s landing directly on that page and bouncing versus who’s arriving there from an internal link and exiting.
It can help you narrow down where you should spend your time testing and making improvements on your site.
Review In-Page Analytics
Another great report within Google Analytics is the in-page analytics report.
This is only available now via a Chrome plugin, but it is still beneficial.
As you can see below, the report allows you to see the click-through rate for every link on a web page.
This is a great way to evaluate a landing page, but it can be useful for any content on your site, including your homepage.
It will allow you to see which links in your content people are clicking on and which ones they skip right over.
This will help you determine which anchor texts you should reword or which calls-to-action you need to improve.
View Page Timings
Your pages may have high abandonment because they’re too slow.
You can check this with the Page Timings report.
In the “Behavior” section of the left-hand menu, click “Site Speed” and then “Page Timings.”
The report will tell you how fast each page on your site is loading.
You can sort by number of page views and average page speed. That way, you can start improving your pages with the highest traffic yet slowest load times first.
It also shows you your overall site average speed.
In light of Google’s Speed Update, site speed is becoming increasingly important. But even apart from that, it’s critical for improving bounce rates.
For example, the average page speed above means that our bounce rate is 123% higher than it could be.
Google Analytics Site Speed Reports
You can check out the other Site Speed reports for further analysis and options for improving your site speed.
The Speed Suggestions report will indicate potential issues and give you useful advice on how to resolve them, such as prioritizing visible content.
You can also use Google’s PageSpeed Insight for more strategies for improving site speed.
Utilize A/B Testing
Throughout all of these report checks, you are hopefully pinpointing some specific areas you need to target for improvements.
It’s difficult to guarantee which changes will improve your bounce rate the most.
For instance, you may have identified a weak landing page. But what do you need to do to improve it?
Do you need to make it longer? Do you need a different call-to-action? What will increase your conversion rate?
A/B testing is a great way to test your improvement strategies.
It allows you to test things like different call-to-action wording, different landing page designs, and different target audiences.
A/B testing will make it easy to see what’s working and what isn’t since it allows you to show one version of your website to half of your visitors and another version to the other half.
Just make sure you set a clear goal for your testing and follow the correct steps.
To better understand your A/B test results, you can also use a significance calculator.
Make Your Pages Easy to Read
It’s easy to forget such a simple aspect of your pages, but readability is important.
There are lots of free tools that allow you to check your content’s readability and your website, like the Yoast plugin for WordPress.
Make sure the headline is big and bold. Then, use subheadings stand bullet points to make the article easier to read.
Here are a few tips to help you format your content and make it more readable:
- Use subheadings to throw more light on your topic.
- Use bullet points to explain benefits or points worth noting.
- Use plenty of charts, images, screenshots, and quotes from industry experts, where appropriate.
- Bold keywords a few times (don’t overdo this).
- Ask a lot of questions in your content, to give readers an invitation to participate, instead of just read.
- End your content with a subheading entitled “conclusion.” This tells the reader to read the last few words and take action quickly. Make your conclusion actionable.
You can test how readable your site is with WebFX’s free readability tool.
Also, be mindful of your font size and type, your sentence and paragraph length, and the amount of white space on the page.
Consider other elements on your page that might be distracting, like your color choices and ad placements.
Include Clear CTAs and Consider Their Placements
A great way to get people to engage and convert is by using compelling calls-to-action.
A call-to-action should compel someone to do something, such as sign up for a newsletter or purchase a product.
There are many ways to improve your call-to-action buttons. Consider your copy, color, button size, placement on the page, and so much more.
Apple suggests making sure that all CTA buttons are at least 44 pixels tall.
Sprout Social, a social media management software business, understands that giving users a free trial period and educating them along the way is a surefire way to convert more users into customers.
You can get buy-in without getting a buy from a client with a CTA for a free trial. This will help you achieve a good bounce rate. Review your landing page, whether a WordPress theme or not, to see how you can offer something with urgency and get a site visitor to take positive action.
If you’re in the SaaS business, offering free trials truly works. Your free trial should be made plain in your CTA.
Use Videos and Images to Engage Your Audience
Humans are visual creatures.
We love imagery. We also retain information better from images.
If you hear something or read something, the chances are good that you’ll only remember 10% of it three days later. However, if you see a picture, you’re likely to remember 65% of it.
Adding images and videos is a great way to get your audience engaged with your content.
Short, catchy videos are increasing in popularity, and they can boost engagement.
Infographics are also effective at drawing your visitors in.
In fact, over 41% of marketers say infographics were their most engaging form of visual content.
If you find that your audience isn’t engaging with a certain page, you may simply need to add more images, videos, and infographics.
Offer Live Chat Support
Live chat is the fastest method for offering customer service support.
If people come to your page and don’t immediately find exactly what they want, live chat can help engage them before they give up and try the next site.
There are lots of platforms out there today that can help you set up live chat services, such as Intercom.
Live chat is one of the best tools you can implement on your website this year to decrease bounce and boost conversions.
Target Keywords With High-Value Traffic
Keywords can make or break your bounce rate. If you want to improve bounce rate, start targeting high-value keywords, because that’s where the high-value traffic is.
According to LinchPin SEO, a perfect high-value keyword sits at the intersection of four important metrics:
- Traffic value
- Conversion value
- Persona value
- Brand value
Did you know that 97% of Google’s revenue is from advertising? The bulk of their revenue comes from targeting expensive keywords.
All keywords are not created equal. Some are going to bring you valuable traffic, while others will only keep you waiting by the side of the road for a ride that probably isn’t going to come.
Simply writing content for your blog will not adequately reduce your bounce rate or improve conversions.
You’ve also got to target keywords with high-value traffic. These keywords, in turn, will send high-value customers to you.
Attract the Right Visitors
In her book Content Strategy for the Web, Christina Halvorson wrote that “Better content means better business for you.”
A higher bounce happens when you’re getting the wrong website visitor from the start. This is a targeting problem.
If your content strategy isn’t yielding the right visitors and increased sales for you, it’s time to improve.
There’s nothing as powerful as publishing custom content that’s “right” for your market, using a content strategy that takes each stage of the buying cycle into account.
Brian Dean boosted his conversions by 785% in one day, with A/B split testing, because he recognized that the traditional ebook giveaway is no longer effective for building a massive list. He created the “content upgrade” strategy, which has now become a marketing standard.
The mistake that a lot of content marketers make is attributing a high bounce rate to a lack of quality content. But, the term “quality” is relative. Your definition of “quality” may not be the same as mine. A higher bounce might be better attributed to the wrong content.
For example, in the internet marketing world, lengthy articles (usually 2000+ words) are considered high quality, because they tend to address every question or concern of the target audience.
On the other hand, this is not true in non-internet-related industries, like health, entertainment, and finance. In these industries, shorter, informative articles tend to perform better on social media platforms.
This is a lesson for you when building a campaign or creating content: Always target the right visitors. If you run a Facebook Ads campaign, drill down into your campaign and get to the right people.
The value of the right audience can’t be overemphasized. In an interview with Forbes, Robert Kiyosaki said that the key to his success in building a multimillion-dollar brand around financial literacy is “simplicity.”
This is truly striking because I’ve often advocated the KISS (keep it simple stupid) concept.
It’s a chain reaction. When you create the right content and use the right channels to distribute it, you’ll ultimately reach the right audience that will be interested in your offer. You’ll develop a good bounce rate.
This is the easiest way to make marketing work for you. For example, if you sell information products (such as ebooks or software) and services, you’ll double or triple your sales conversion rate just by attracting the right prospects.
Further, HubSpot’s research data shows us that 50% of consumer time on the web is spent engaging with custom content that’s tailored to them.
Write Attractive Meta Descriptions
A lot of companies don’t optimize their meta descriptions for search users. As a result, their click-through rate continues to decline.
Maybe they didn’t think that it was that important – but it is.
When users type a keyword into Google search, any word that matches the search term is bolded, to differentiate it from the rest and tell the searcher to consider that result.
Meta descriptions are HTML attributes that describe what a particular web page is about. Search engines use meta descriptions to display a snippet of your web page, so that users can determine whether a particular search result is right for them, just by reading the description.
The optimal length for a meta description is 155 characters. If a web page description is longer, the remaining characters will not show in the search results pages. Instead, you’ll see an ellipsis (…) at the end. This may cause a higher bounce rate because people felt misled about your website.
Before you can successfully write an attractive meta description, you’ve got to understand the anatomy of a search result and where the meta tag fits in.
One of the tactics that I employed to grow Gawker Media’s traffic by 5,000,000 visitors was creating a unique meta description for each page, instead of allowing Google to automatically pull the site’s slogan or initial copy.
So, how do you write an attractive meta description?
If you’ve got the All In One SEO pack installed on your WordPress blog, this is easy to do. For every post that you publish (each of which is a separate web page on your site), you can provide a unique meta description. Use these tips:
Include the Target Keyword
Since a meta description is basically targeted at search users, make sure that the keyword they’re searching for is present in your description. However, this doesn’t mean that you should go stuffing keywords into descriptions.
On the contrary, you should absolutely continue to write naturally.
For example, let’s say that your main keyword is best plumber in NY. Here’s how to include it in your description naturally:
You can see that I mentioned the keyword just once in the description – not more. Also, notice how the keyword flows into the rest of the copy, so it doesn’t appear manipulative. This helps achieve a good bounce rate where a site visitor will see what the site is about and hopefully be enticed by the CTA.
Use A Call-to-Action in Your Meta
Search users – all users, really – need you to tell them what to do next.
Still using the above keyword (best plumber in NY) as our example, here’s how to use it as a call-to-action in your meta description:
Analyzing and improving your bounce rate can be intimidating. But improving your bounce rate means a more engaged audience and more conversions.
If you follow the steps I’ve outlined in this post, you should see your bounce rate decrease in no time.
First, understand what a “good” bounce rate really is and narrow down your analysis to pinpoint exactly what your bounce rate metrics are telling you.
Remember that a site-wide bounce rate is simply a vanity metric. It’s too broad to provide actionable information.
Focus on the different segment reports and your other analytics tools to dive into the data.
Check out your top exit pages, page timings, and speed reports to understand what might be causing your bounce rates to be high.
To help people engage with your content, be sure to improve your site’s readability, add imagery, optimize your CTAs, and use live chat.
Do some A/B testing to see what works best for you and your audience.
Monitor your reports with each change to see where and how you’re improving
Remember: There is no magic number that you’re trying to hit.
Aim to keep improving and offering your customers a better, more engaging experience.
What tools and tricks do you use to monitor and improve your bounce rate?
The post Bounce Rate Analytics: How to Measure, Assess, and Audit to Increase Conversions appeared first on Neil Patel.
Why aren’t more companies using marketing automation?
A recent survey from Liana Technologies found that 60 percent of respondents said they didn’t know how to use marketing automation. They listed a lack of know-how as the main reason they weren’t adopting marketing automation campaigns.
Half of those surveyed also listed a lack of strategy or personnel as yet another reason they weren’t moving forward with marketing automation.
As you can see from the research, these companies need marketing automation consulting.
10 Ways a Marketing Automation Consultant Can Help Grow Your Business
Marketing automation is often viewed as a nice-to-have option, something that could be helpful but really isn’t all that necessary for companies looking to grow. Marketing automation isn’t an extra; it’s a component that’s an essential part of your marketing.
This isn’t always as clear until you breakdown the benefits that come with marketing automation.
Here are ten ways a marketing automation consultant can help you grow your business.
- More targeted marketing: Many companies force their customers into the same marketing funnel. They’re not focused on optimizing their funnel based on the buyer’s journey, so most of their prospects fall out of their marketing funnel. A marketing automation consultant helps you segment and target your customers properly. A good consultant will help you identify customers who are ready to buy, leads that need to be nurtured, and leads you can disqualify.
- Improve customer experiences: According to Salesforce, 76 percent of consumers expect you to understand their needs and expectations. Another 84 percent said, “being treated like a person, not a number” is essential to earning their business. Marketing automation helps you achieve this at scale, so you’re able to provide the one-on-one attention and personalization customers expect.
- Increased traffic: Big companies have embraced analytics, but most don’t know how to use their data. Most don’t have a data-driven culture, so it’s difficult for many organizations to have confidence in their marketing decisions. This isn’t just big companies, though; it’s most companies in general. This means it’s harder for companies to identify the traffic sources working well versus those that aren’t. With marketing automation tools like lead scoring and lead nurturing, you can identify your best performing traffic sources.
- Higher quality leads: When customers go through the same funnels, without segmentation, lead quality suffers. Your marketing automation consultant should help you outline the buyer’s journey and segment customers based on their place in the funnel. Doing this increases lead quality as customers are pre-qualified before and after they convert. This keeps the quality of the leads sent to sales high.
- More leads: Once you’ve identified the list of marketing automation tools and workflows you need to generate high-quality leads, you can use those same automation tools to scale your lead generation campaigns. Your marketing automation consultant will help you increase lead production, using the lessons learned from your smaller campaigns. You’ll know which traffic sources perform best, how to improve lead quality,
- Increased conversion rates: One of the hidden benefits of marketing automation is that the benefits are cumulative. Your marketing automation consultant will show you how to combine the strategy, tactics, workflows, and tools you’ve put together into a single system. Each component, when optimized, should produce increased conversion rates consistently in your campaigns over time.
- Increased ROI: As your conversion rates increase, your ROI will continue to grow. A great marketing automation consultant will show you how to maintain your ROI as you continue to scale. You should see more revenue with less spend consistently over time.
- Reduced expenses: As metrics like your return on ad spend (ROAS) and your conversion rate improves, you should see a decrease in costs (e.g., cost per lead, cost per action, customer acquisition costs). Your marketing automation consultant should monitor your returns and expenses, ensuring that both are moving in the right direction.
- Data sharing between marketing channels: Your marketing automation stack should provide your team with the right data analysis tools. If you use analysis tools like Cyfe or Power BI, you’ll want to make sure that your team has access to data across marketing channels; your consultant should help you set this up, so your team has need-to-know access to data. Doing this will reduce operational silos, keeping everyone in your team on the same page; no more fights between sales and marketing for control.
- Shorter sales cycles: Let’s say you’ve received two sets of leads. Set A has customers who are ready to buy now. They’ve done their homework, and they’ve decided your company is the best fit. Set B has interested customers; they won’t be ready to decide for another three to six months. Set A has a shorter sales cycle — your consultant helps you find and segment these customers as they come into your funnel.
These benefits aren’t random one-offs; they’re outcomes your business needs to grow. The problem with growth is scaling. As you grow, it gets harder to manage all of this manually.
How to Get Started With a Marketing Automation Consultant
Your marketing automation consultant should be a specialist with deep expertise in automation. They should also have experience across a broad range of marketing disciplines and channels, including:
- Advertising (display, content,
- Direct response
- Market research
- Search (organic and paid)
- Websites (e.g., conversion rate optimization, usability, etc.)
If you’re ready to get started with a marketing automation consultant, there are a few things you’ll need to prepare ahead of time. Upfront preparation makes it easier to get started; your consultant doesn’t have to waste a lot of time (and your money) getting you up to speed.
Both of you will be able to jump in right away.
You’ll want to make sure that you have a list of:
- Goals, KPIs, and objectives: For example, this could include a list of tools you’d like to integrate in your technology stack, as well as how you’d like these tools to perform. This could also provide your consultant with information on the specific outcomes you’d like to see due to automation (e.g., a 7 percent increase in productivity, shorter sales cycles, less double entry, improved utilization rates, etc.).
- The tools and resources you’re using: You’ll want to make a list of the tools and resources you’re already using. Collect additional information on the number of users for each software, tool, or subscription. Make note of any API keys and special instructions. Also include a list of the software, tools, and resources you’d like to use.
- Decision-makers and influencers: If you’re part of a team, you may find that some people aren’t all that excited to share their data. Others are interested in working with your consultant to automate essential marketing tasks. Sharing a list of decision-makers and influencers with your consultant makes their job easier. Right from the beginning, they know where everyone stands and who to talk to if they need help getting everyone on the same page.
- Obstacles and challenges: You’ll want to outline the list of barriers and challenges that may prevent you from achieving the goals and objectives you’ve listed above. Maybe some of the services you use don’t offer an API or integrate with third-party services like Zapier. Maybe some of the tools in your list are outdated, or they’re unsupported legacy options (i.e., legacy software running on Windows XP).
- Policies and procedures: If your company has specific policies, procedures, or guidelines for software purchases, you’ll want to share that with your consultant as well. You want to let your consultant know what’s allowed, required, forbidden, and unacceptable. You want to set your consultant up for success by giving them a clear set of guidelines to follow; this helps your company grow.
- Strengths and weaknesses: This step is uncomfortable but it’s also important; if your team, division, or company has problems in a specific area, spell that out for your consultant as clearly as possible. Does it take your company a long time to make important decisions? Is your organization good at finding great employees and contractors? Give your consultant a brief overview of your strengths and weaknesses. Getting people on board is easier when you know what you’re working with.
Sharing this information upfront makes automation smooth and efficient.
If you’ve already answered these questions for your consultant, they’re able to focus their attention on helping you automate your marketing campaigns, projects, and tasks.
Measuring the ROI of Marketing Automation Consulting Services
In general, consultants aren’t big on measuring ROI, but they should be. It’s reasonable to expect the same from your marketing automation consultant. If you’ve done the upfront work I’ve mentioned already, you should have everything you need to measure the ROI ahead of time.
Remember the list of goals, KPIs, and objectives you wrote down earlier?
Your consultant should be able to help you refine your goals and objectives. If you haven’t already, you want to add some specificity to these goals. You’ll want to add specific numbers, facts. or figures to these goals. Use these figures as a general guide — you want to discuss these with your consultant making sure they’re realistic and achievable.
Here are a few examples you can use:
- Increase productivity becomes — Increase our marketing team’s productivity by 16 percent
- Improve lead quality becomes — Use lead scoring to achieve a 6 percent lift in marketing qualified lead volume
- Identify top-performing marketing channels becomes — Identify top performing marketing channels by automating URL tagging for all current and future marketing campaigns
- decrease customer acquisition costs becomes — Reduce customer acquisition costs on Google ads by a minimum of 11 percent
Measuring your ROI is pretty straightforward if you have a clear idea of your campaign goals and objectives. The easier it is for you to list a starting point, the easier it will be for your consultant to help you reach your goals and objectives.
4 Point Checklist For Finding the Right Marketing Automation Consultant
Choosing the right marketing automation consultant is simple if you’ve prepared ahead of time. From there, you can screen consultants the same way you would for any other consultant or professional. First, you outline your process, listing your goals and objectives, your current technology stack, decision-makers, influencers, etc. Second, you filter your providers through your process, ensuring each candidate meets the criteria you’ve set.
Here’s a shortlist of the criteria you can use to evaluate your consultants.
- They understand digital marketing. The best marketing automation consultants are marketers themselves. The ideal candidate is a marketing veteran who’s managed marketing campaigns from beginning to end throughout their career. You’re looking for someone who got their start as a marketer.
- They understand your business. Your marketing automation consultant should have an in-depth knowledge of your business — how it works, what you need, mistakes to avoid, etc. If you’re managing a retail or ecommerce company, your consultant should have experience managing marketing campaigns for retail or e-commerce companies. You’re looking for someone who has a native understanding of your business.
- They’re data-driven. Marketing automation requires a mix of art and science. You’ll need someone who loves to read through data but is skilled enough to explain it to the people on your team who aren’t data-driven. The ideal consultant can tell stories with data and helping your team make important decisions.
- They’re proactive and knowledgeable. When it comes to automation, you shouldn’t be as knowledgeable as your consultant. They should be able to make recommendations and connections you weren’t even thinking of. They should be able to help you automate your campaigns in new ways; to increase your productivity by customizing your marketing stack.
This checklist is pretty simple.
A great marketing automation consultant should be able to handle everything we’ve covered so far comfortably. They should be able to break things down for you, showing you how to improve your plan, refine your goals and objectives, and add to your technology stack.
They should be asking questions.
If they’re good at what they do, they’ll have some questions and requirements of their own.
While many organizations are switching to marketing automation, most don’t have a clear plan they can follow. Companies list a lack of know-how, strategy, or personnel as the reasons why they weren’t completely on board with marketing automation.
That’s changing fast, though.
More companies are investing in marketing automation. They’re taking the time to implement a strategy for their business. Marketing automation isn’t an extra; it’s a component that’s an essential part of your marketing, especially as your company grows.
With the right consultant and a clear strategy, you’ll have the people, process, and technology you need to grow your business quickly.
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Your business credit isn’t the only thing that affects your ability to get funding. Still, it is a huge piece of the pie. One way to see your business credit and get a feel for where you stand is to get a credit report sample.
A Free Credit Report Sample Can Help You Know Where to Start with Funding and Fundability
Unlike your personal credit report, you can’t really get a free copy of a business credit report. However, you can get a sneak peak in some cases with these options.
So, Nav is a service that will let you see a credit report sample from all three of the major credit reporting agencies. But these are only summaries, not full reports. Generally, that means you can see your score, and maybe the accounts you have listed. While this will help you get your bearings, it will not suffice for the purpose of correcting mistakes or even to show you what you need to do to improve your score. You do have the option to pay for more information though.
Keep your business protected with our professional business credit monitoring.
Similarly, Credit.net will let you see a credit report sample with their free trial. There is no credit card required. Also, after you pull the report, you have 30 days to check it out. As a result, at least once you can get a totally free look at your report. Since there is no fear of missing a cancelation deadline and having to pay anyway, it’s a great option.
Scorely offers you a credit report sample before you pay for an ongoing subscription. In contrast to Nav or Credit.net, they actually calculate their own score similar to the big 3: Experian, Equifax, and Dun & Bradstreet. They strive to be totally transparent and to make their reports easy to understand.
You do have to pay for an ongoing subscription to CreditSafe. However, they will give you a credit report sample to get you started. Also, they have a number of reports that are unique to them. This means you are getting something that you may not get with the other monitoring services or even the standard reports from Dun & Bradstreet, Experian, or Equifax.
How To Read Your Credit Report Sample
In truth, each reporting agency offers different types of reports and information. Similarly, they all contain the same general data. You need to understand what your credit report sample says, whichever agency it is from, about your business.
Dun & Bradstreet
Dun & Bradstreet offers several different types of business credit reports. In fact, there are six different reporting options in all. They all offer different information related to credit worthiness, and it takes all of them to get the whole picture. The price range listed above is dependent on which reports you want to order.
The report most use is the PAYDEX. This is likely because it is the easiest to understand, due to it being the most like the consumer FICO score. It measures how quickly a customer makes payments and ranges from 1 to 100. Scores of 70 or higher are acceptable. For example, a score of 100 shows payments are made in advance, and a score of 1 indicates that they are 120 days late, or more.
The other Dun & Bradstreet Credit Reports include:
- Dun and Bradstreet Delinquency Predictor Score
The delinquency predictor score measures how likely it is that the company will not pay, will be late paying, or will fall into bankruptcy. The scale is 1 to 5, and a 2 is good.
- Financial Stress Score
The financial stress score measures pressure on the balance sheet. It shows how likely the company is to shut down within a year. These scores range from 5 to 1, with a score of 2 being a good thing.
- Supplier Evaluation Risk Rating
This rating ranks the odds of a company surviving 12 months. The minimum score is a 9 and the maximum is 1. A “good” score is 5.
- Credit Limit Recommendation
The credit limit recommendation reflects a business’s borrowing capacity. It is a recommendation for how much debt a company can handle. Typically, creditors use this to determine how much credit to extend.
- D&B Credit Rating
This one ranks overall business risk on a scale of one to four. A score of 2 is good. The rating is given in conjunction with letters, the combination of which indicates a company’s net worth.
Even if there isn’t enough information on a business to assign a regular rating, Dun and Bradstreet will assign what they call a Credit Appraisal Score. This is based on the number of employees. Another option is an alternative rating based on what data is actually available.
Keep your business protected with our professional business credit monitoring.
Experian’s uses what it calls Intelliscore as its credit ranking. There are more than 800 different factors that they use to predict a company’s credit risk. With Intelliscore, a score of 76 or higher indicates a low risk of default or late payment. If a score falls between 51 to 75, it indicates a low to medium risk. Scores from 26 to 50 are medium risk, and from 25 down to 1 is medium high to high risk.
Here is where Experian gets tricky. Intelliscore is a blended score of both the business and business owner’s personal information. That means it offers insights into a business’s public record findings, collections, and payment trends, as well as overall business background. Experian is also unique in that it does not ask businesses to self-report. Instead, they collect all the information themselves. You will have to give permission for a lender to view this report, due to it containing personal information.
Equifax collects information similar to Dun and Bradstreet, including: information from public records, financial data from the business, and payment history from creditors. Credit utilization is also a factor, which accounts for how much credit you are using versus the amount of credit you have available to use.
The information is used to calculate various scores, including the business credit risk score and the business failure score. The first measures how likely it is that a business will become 90 days or more delinquent on bills over the next year. The score ranges from 101 to 992. The second ranges from 1,000 to 1610 and predicts how likely it is that the business will file for bankruptcy over the next 12-month period. A lower score indicates higher risk.
They also calculate what they call the business payment index. This is the Equifax version of Dun & Bradstreet’s PAYDEX. It even runs on the same scale of 0 to 100. This is an indicator of payment history over the past year. It is different from the PAYDEX, however, in that you must reach a score of 90 or higher for it to be a good score.
In addition, Equifax offers business identity reports to confirm a company actually exists. It verifies details such as the company’s tax ID, number of employees, and yearly sales.
Equifax does not allow business owners to request reports on their own company. They decide themselves when to start a credit file on a specific company.
Keep your business protected with our professional business credit monitoring.
A Note on CreditSafe
If you want to subscribe with them after you see your credit report sample, they offer 3 packages, Standard, Plus, and Premier. The problem is, they do not list their prices on their website. You have to request a quote to determine what your pricing would be. They allow you to purchase individual products as well.
CreditSafe is quickly growing in popularity. No doubt that is partly due to the subscription service it offers, which allows easy insight into your own company’s credit report. The free trial allows for test driving, which sweetens the deal even more.
Their main score, the CreditSafe rating, works on a scale of 1-100. It predicts the likelihood that payment performance will become 90 plus days beyond terms within the next 12 months or that the business will go bankrupt. They offer a variety of other scores and reports that provide a ton of information however.
They collect data from over 8,000 sources including:
- FTSE Stock
- Telephone research
- Local Agents
- Companies House
- Trade Payment Data
- Registry Offices
Of course, this is far less than 8,000, but it gives an idea of the sources they use to gather their information.
CreditSafe Business Credit Reports
- International Score
This score is derived from the Creditsafe rating. It allows for a comparison of credit risk between companies that are registered in different countries.
- Credit Limit
The Creditsafe recommended credit limit uses information from the business payment records and those of similar companies to calculate a dollar amount recommendation of the maximum amount of credit a company should receive at any one time.
- Days Beyond Terms (DBT)
Compares how many days late a business pays its bills in comparison to other companies in the industry.
- Derogatory Legal
This is a report on the number and value of tax liens and judgements that have been filed in the past 6 years and 9 months. It also includes bankruptcies filed in the last 9 years and 9 months
- Payment Trend
A report designed to highlight at a glance substantial changes in how a company is paying its bills.
- Business Spend Trend
Lets you know whether the total annual business spending is going up or down when compared to the previous year.
Subscription packages come in levels, and the prices depend on your business’s individual needs. You will have to speak to a consultant to get a quote.
How To Use the Information on Your Credit Report Sample
Honestly, it’s a great idea to get a credit report sample. But, what do you do with the information that is on it? Here’s what. You use it to figure out where you need to start with building stronger fundability. Truly, your business credit score isn’t the only thing that affects fundability. In fact, there are many other factors that come into play as well. However, if you have a problem with any of these other factors, it will often be detectable on your credit report sample. Once you see it, you will know what you need to work on, including business credit.
What Affects Fundability?
What are some of these other factors you can use your credit report sample to check? Here are just a few.
Other Business Data Agencies
In addition to the business credit reporting agencies that directly calculate and issue credit reports, there are other business data agencies that affect those reports indirectly. Two examples of this are LexisNexis and The Small Business Finance Exchange. These two agencies gather data from a variety of sources, including public records. This means they could even have access to information relating to automobile accidents and liens. While you may not be able to access or change the data the agencies have on your business, you can ensure that any new information they receive is positive. Enough positive information can help counteract any negative information from the past. If you see something on your credit report you did not expect, it may have come from one or both of these agencies.
On the surface, it seems obvious that all of your business information should be the same everywhere it may show up. However, when you start changing things up like adding a business phone number and address or incorporating, you may find that some things slip through the cracks. If you see accounts missing from your credit report sample, or accounts on it that should not be, you may have a problem with this.
The Application Process
Consider the timing of the application. Does your credit report make it seem as if your business is currently fundable? If not, get to work.
Use Your Credit Report Sample to Build Fundability
Of course, there are a lot of factors that affect fundability that you may not be able to use your credit report sample to check on. Still, getting a peek at what is on your business credit report is a fabulous start.
With the information you see, you can start making some decisions about how to create stronger business fundability. If you see an issue with any of these factors you need to work on it. Seeing a credit report sample is the first step toward detection and correction. Also, I would encourage you, don’t stop with a credit report sample. You need to see more. Regular monitoring of your business credit is vital.
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