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Strategic Planning

Why You Need to Re-Evaluate Your Marketing Funnel During 2020 Planning

By: Michelle Sarantos – Content Optimization Specialist

With 2019 coming to a close and 2020 on the horizon, Q4 is crucial planning time to understand the pain points your company faces when it comes to conversions. Have you noticed a drop-off in conversions over the last few months? Static sales or low engagement with your brand? If you’ve taken note of any nuances, now is the time to re-evaluate your marketing funnel to understand where and why your customers are dropping off. Read on to find how a conversion audit can help address these problems and maximize your marketing budget in 2020.

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What is a Conversion Audit?

A conversion audit can help address where and why your customers are dropping. Conversion audits look at everything – from where your content is lacking to where your CTA buttons are placed. Believe it or not, these components and their locations are crux points for your customers that can either help move them forward in your funnel or make them want to take their business elsewhere.

As a business, you need to put yourself in your customer’s shoes. Depending on their stage in the funnel, customers may get to a point on your website and decide “this isn’t what I wanted or expected” or “I cannot find what I’m looking for easily.” This could cause them to leave your site and potentially head back to Google to find what they’re looking for from your competitors. Conducting a conversion audit can assist with identifying key issues that could prevent this scenario for your business.

Why You Should Consider a Conversion Audit

A conversion audit not only allows you to find out where your customers are dropping off, but allows you to evaluate how your analytics, website, social media, email and direct mail strategies work together as a whole for customer acquisition.

Consider these top problems that the audit can help resolve:
  1. Discovering why customers are leaving your site before converting
  2. Static or flat sales year over year
  3. Low engagement with your brand overall

Elements to Analyze in a Conversion Audit

Getting started on a conversion audit can seem daunting, but knowing the main elements to dig into can ensure that your audit goes smoothly, and identifies the critical touchpoints.

Know Your Audience

Once you have identified a drop in conversions, it might be time to check on your audience. Understanding who your audience is can lead to discoveries into why they are dropping off your site. One tip to make sure your targeting efforts are worthwhile is to segment your audience into different groups. Whether you segment by device, behavior, location, or source, it’s important to figure out what segment is most important to your business.

Dig into Traffic and Data

Data and traffic are your source of truth when it comes to your business metrics and goals. Consider a deeper dive into your analytics to see where users are dropping off or even where they are going after they hit a landing page.

Content Assets for All Stages in the Funnel

Once you’ve identified your audience and have segmented them into specific groups, make sure you’re equipped with the right content to target different stages of the funnel. Examples of this content can include:

  • Ebooks
  • Articles
  • Blogs
  • Whitepapers
  • Specific landing pages
  • Call-to-actions

These key pieces of content will come in handy when you’re ready to attract your prospective and returning customers. With customers landing anywhere from awareness to decision within the funnel, it is crucial to target them at the correct stage.

Evaluate Forms and Processes

Forms are one of the main ways that leads come through to your business. Try filling out the form yourself to check if the wording is clear to a user and to confirm the form actually submits.

After the audit, apply your learnings and consider next steps. Are your customers not offered the correct call-to-action to continue in the funnel? Is the content speaking to brand awareness instead of decision making? Once you’ve identified your problems, it’s time to put your solutions into motion.

Why Now is a Key Time to Re-Evaluate Your Marketing

After applying your key findings, consider adjusting your marketing spend to ensure channels that are converting continue to improve and acquire new customers. 

As marketing trends constantly change, it’s important to keep conversion and conversion rates high on your priority list. Keeping these top of mind during 2020 planning allows you to be more strategic in how you tackle customer behavior and acquisition in order to gain both new and returning customers.

With the right tools and guidance, your business can increase conversion rates and acquire customers as brand advocates from a conversion audit. A successful conversion audit can address your initial problems and eliminate wasted ad spend while gaining confidence in your data. 

Set your business up for major growth in 2020. Not sure where to start? Contact us today to learn more about how Tallwave’s conversion audit can identify key opportunities for your business.

Written by Michelle Sarantos – Content Optimization Specialist

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