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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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Presentation on theme: "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."— Presentation transcript:

1 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 muted. Our POP class will start shortly. Darryl Wilson POP Class Manager Southeast Tourism Society

2 2 Conversion… Maximizing the value of marketing and research Jack C. Yager for the Southeast Tourism Society August 12, 2009

3 3 Background  Marketer viewing research Direction Priority  Researcher viewing marketing Measurement Significance  Dispersion versus Clustering

4 4 Conversion  Conversion = Success  Converting = Action  Conversive = Viability  Converts = Transformation  Conversing = Conversion

5 5 Three dimensions of conversion  Time (when)  Image (why)  Action (what, how, who, where)

6 6 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”

7 7 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”

8 8 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

9 9 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

10 10 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)

11 11 Collecting information  Database of prospect information  Database of guest research  Tracking activity

12 12 Metrics  Click through  Time spent  Target actions  Retention  Inquiries  Micro-inquiries  Visits  Planned visits  Financials/ ROI

13 13 Search vs Re-search Discovery methods Listen Strat planning Research by objectives Six sigma Open page Visual perspectives

14 14 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

15 15 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

16 16 $’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

17 17 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

18 18 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

19 19 Conversion checklist  Do I have a database (with s)  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

20 20 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

21 21 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

22 22 Expanding your point of view  Sense of urgency  Blue ocean strategy  Avoid the elephant fight  Above and below the line

23 23 Thank You! Q&A For more information: Jack Yager


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