Online marketers are given the “Open Sesame” to Effective Advertising. CXMap creates the key to digital advertising’s most elusive treasure chest – sustainable profitability.
Nobody ever said that Internet marketing is for the fainthearted, but a continuous low click-through rate (CTR); unit economics that remains defiantly underwater, and abysmal customer conversion is enough to make even the most professional marketers throw their hands up in despair.
When advertising campaign glitches are noticed, it’s a sure sign of a much bigger problem. We at CXMap refer to this as “The Tip of the Growth Marketing Iceberg”, or in other words, “a well-conceived social media strategy going wrong.” From our team’s over 100 years of aggregate experience in the cyber promotion of products and brands, we see it as mismanagement of customer growth and customer retention planning.
Let me digress to introduce my vision and myself: I am Alex – a 15-year marketing veteran – and the entrepreneurial leader of what began as a pioneering project to melt the iceberg; to make Google advertising and advertising on Facebook a rewarding experience once again. It culminated in what important marketers herald as a groundbreaking application: one that has pierced Web Analytics to the core and elevated genuine customer engagement as the preferred route to target market viability.
Initially, our attempts to connect to the user experience were roller-coaster rides in the theme park known as “trial-and-error.” First, we tried piggy-backing on Google analytics. Later, we followed the lead of Minimum Variable Product (MVP) techniques to inject opinion leaders into the formula. Somewhere between these two paradigms, we tried various growth hypotheses and audience/channel experiments, even going so far as integrating Tableau into our thinking: we were obsessed with getting in front of big data and business analytics,
Throughout this stressful time we never lost sight of CXMap’s goals, namely: online customer acquisition from identifiable acquisition sources with solid user engagement and lifetime values – at the very least. With this as our yardstick, we concluded that our initiatives as stated above were not working. The last straw (the one that all but broke the camel’s back) was an attempt to join the tools of multiple services, which like all the rest yielded inconsistent results.
Basically, negative unit economics emerged for most constructed alternatives. With hindsight, we deduced that while the adapted disciplines are great for specific tasks, breaking these boundaries was near impossible. Metrics appeared good at first then quickly dissipated; cause-and-effect was blurred. Our mistakes taught us little except that we should be controlling the process, where factually the process was controlling us. Also, surprisingly it was like mixing oil and water in cases – the technologies were simply incompatible.
There’s an overused saying, “when the going gets tough, the tough get going.” Yet, it describes our resilient entrepreneurial spirit to a tee. We decided to go back to meaningful market segments defined by group behavior patterns, and our own innovated technologies to fulfill the following functions:
1. Generate more qualified leads.
2. Turn qualified leads into more customer conversions.
3. Retain customer conversions to grow the customer base.
4. Consolidate good marketing ideas and eject those that are not.
5. Evaluate all of the above with quantifiable website metrics.
Here’s an example that demonstrates how this 5-part proposition enabled our client to satisfy customer expectations:
Our Client: a South Florida Realtor that targets online cash buying prospects (to eliminate mortgage application hassles) of condominiums and single-family homes, from West Palm Beach to Fort Lauderdale.
First step – we started here: baby boomers in northern climes/ migrating to every warm climate imaginable/ with both rental and home purchase as possibilities/ with migration time horizons up to 3 years
We ended with this: Singles OR couples (segments A & B)/ over 60/ migrating to South Florida (excluding Miami) from NYC and Chicago/ in the next 3 months/ with free cash from a property sold or in contract. In short: 2 highly focused segments with enough buying power and positive ROI potential to warrant our client’s social media spend. We pinpointed 2 outlier segments with exact same characteristics except “leaning towards the target regions, but not sure yet.”
Following steps – with our online App now public we were able to measure real-time group behavior patterns for segments A & B and outliers by drawing up buyer journey maps, using buyer journey analytics and experience maps. It aligned us with their bottlenecks, lifestyle, preferences, reactions, likes and dislikes, and thought patterns.
By leveraging off this, customer conversion escalated into sustained sales and profitability. Moreover, testing workable marketing ideas decisively diminished false advertising. Many say our story – though adventurous – had a happy ending. We say it’s only the beginning.