1. The document discusses assessing online marketing channels and how to best use them to increase conversion rates. 2. It emphasizes understanding the customer journey across multiple touchpoints and devices in order to improve experiences. 3. A strategic framework is recommended that involves planning channel usage, testing optimizations, analyzing results, and iterating based on data.

1. Assessing Online Marketing Channels And
How They Can Be Best Used
ALEX BONO

2. Quick Introductions
Alex Bono
Partner MKKO Ventures
▪ Founding team - Groupon, Spain
▪ Since moving back to Singapore, actively involved in funding,
growing and consulting in internet business in Southeast Asia.
▪ Currently growing mums.sg as COO– eCommerce focused in
babies and mums
▪ Used to multiple hats: from financial planning, operations, tech,
marketing…
MKKO Ventures (consulting and execution)
▪ Consulting
▪ eCommerce
▪ Online marketing/Apps
▪ Growing startups
▪ Fund raising
ALEX BONO

3. Assessing Online Marketing Channels And How They
Can Be Best Used
ALEX BONO

4. Today…
▪ How can you grow revenue
▪ What types of channels are best for which kinds of context
▪ What percentage and rate of conversion can you expect from
individual channels
ALEX BONO

5. Today…
You will not get a solution to improve a
conversion rate
You will get parameters to start improving the
conversion rates.
ALEX BONO

6. More people are purchasing online
Question: Which of the following have you done online in the past month? Purchased a product online (via any device)
Source: GlobalWebIndex Q4 2013 /// Base: Global Internet Users aged 16-64
CN
382m
KR
21m
IN
84m
SG
2m
MY
7m
PH
15m
HK
2m
TH
9m
ID
32m
ALEX BONO

7. What is a conversion rate?
CONVERSION
RATE
NUMBER OF GOAL
ACHIEVEMENTS=
VISITS/
ALEX BONO

8. Most common conversions
ALEX BONO
Source: Millward Brown Digital 2013 –
Conversion optimization Report

9. Conversion rate
ALEX BONO
▪ However in eCommerce, we focus on
LEADS
(signups)
SALES+

10. So, why is it critical to under the CR econo-system?
Conversion Rate 101:
Get more customers for “free”.
Create the momentum allocating budget and resource to
customer acquisition.
ALEX BONO

11. So, why is it critical to under the CR econo-system?
Conversion Rate 101:
Develop an advantage over your competitors.
Helps shape the mindset of always improving within the company.
ALEX BONO

12. So, why is it critical to under the CR econo-system?
Conversion Rate 101:
Create better alignment.
Bring marketing, technology and strategy together.
ALEX BONO

13. So, why is it critical to under the CR econo-system?
Conversion Rate 101:
It makes financial sense.
More revenue leads to profits.
Increasing your conversion by 50% could impact profits by 500%.
ALEX BONO

14. Why is it critical to under the CR econo-system?
ALEX BONO
PROFIT
OVERHEADS
COST OF SALES
AD COSTS
PROFIT
OVERHEADS
COST OF SALES
AD COSTS
Before After
Revenue
50% increase in
conversion rate

15. So, why is it critical to under the CR econo-system?
Conversion Rate 101:
Paid advertising is expensive.
Reducing your spend on PPC means lowering CAC (Customer
Acquisition Cost).
ALEX BONO

16. So, why is it critical to under the CR econo-system?
Conversion Rate 101:
Be more customer centric.
Walk in the shoes of your customers – learn from them and improve the
overall experience.
ALEX BONO

17. So, why is it critical to under the CR econo-system?
Conversion Rate 101:
Attract the right affiliates and partners.
They can monetize better.
ALEX BONO

18. So, why is it critical to under the CR econo-system?
Conversion Rate 101:
Seal the ‘bucket’ leakages.
Once you’ve acquired the customer, it’s far easier to keep them happy
than having to acquire a new one.
ALEX BONO

19. Why is it critical to under the CR econo-system?
▪ Drive traffic from PPC(FaceBook and AdWords)
▪ How conversion rate affects CPA
ALEX BONO
Campaign Type
Campaign
Budget
Landing Page
Costs
Media
Spend
Traffi
c
Conversion
Rate
New
Customers
CPA
Without LP $10,000 - $10,000
10,00
0
2% (1) 200 $50
With LP $10,000 $1,000 $9,000 9,000 2.5% (2) 225
$44.4
4
With LP + Testing &
Optimization
$10,000 $2,000 $8,000 8,000 3% (3) 240
$41.6
7
1 Google
2 Omniture typical 25% increase in conversion
3 50% increase through testing

20. Why is it critical to under the CR econo-system?
CR needs to be approached with a holistic, long term and strategic
point of view
▪ It is about continuous improvement
▪ It is not a quick fix to boost sales (marketing growth hacks)
▪ Improving CR in e-commerce requires testing. Lots of it.
▪ It requires a method to test
▪ And identifying your overall aim
▪ Understanding how that aim fits your strategy?
...If you do not know your strategy…Do the basics first.
REVIEW YOUR STRATEGY.
ALEX BONO

21. Conversion rate is not an aim.
But a consequence.
#1

22. Your site needs a mission.
#2

24. How do people buy?

25. Case one
▪ Mums.sg: eCommerce site focused
in mums, kids and babies
▪ Very targeted audience
ALEX BONO

26. Example
▪ Let’s take a look at the journey of a new customer at
MUMS.SG. [29 year old, Jamie first time mum. During her free time
at work and on the go, she tries to makes full use of it to purchase
items for her baby.]
ALEX BONO
Awareness Consideration Purchase Preference
Search
Website
Display
Forums
Social
Comparison
sites
Website
Email
Online chat
[customer
service]
Email
Social
Search
STAGE
CHANNELS

27. How do people buy?
Nowadays, the customer journey is more complex. More sources
of information, more variety, more competition, more choice…
ALEX BONO

28. How do people buy?
ALEX BONO
Icons design: http://www.danilodemarco.com/pittogrammi
Awareness Consideration Purchase Preference

29. Channels or touch points?
Touchpoints are:
▪ Ways to which customers interact with us.
▪ They can either be direct, indirect and even invisible.
▪ Each of these contribute to a larger ecosystem.
ALEX BONO
Source: http://www.conversionation.net/2012/04/is-touchpoint-marketing-the-only-marketing-left/

30. Agile commerce: from channels to touch points
ALEX BONO

31. What are the elements of a touch point?
▪ The person (who) (the interacting individuals, whether it’s with other persons or with social
objects)
▪ the intention (why) (the purposes of the person, often several ones at the same time)
▪ the social objects (where) (such as content, where intent and interaction occur)
▪ the context (when) (such as the various stages in the life cycle, time and place)
ALEX BONO
Source: http://www.conversionation.net/2012/04/is-touchpoint-marketing-the-only-marketing-left/

32. What is The customer journey?
▪ It is how we interact with the customer
▪ It is the before, during and after we get them to visit our site
(repeatedly and recommending to others). And getting a ‘YES’
(conversion)
ALEX BONO

33. Why is managing touch points important?
▪ The consumer goes on a ‘customer journey’ as a result of trying
to get a smart decisions on the purchases
▪ As they progress through the purchase funnel, experience at
each touch point can have consequence to our outcomes
ALEX BONO

34. Understand the customer
journey to improve your
conversion rate.#3

35. Manage your touch points,
ensuring good experiences at
every turn will increase your
conversion rates.
#4

36. Number of sources used when making last purchase decision
ALEX BONO

37. People who searched online for last purchase by market %
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38. Time to purchase - baby care online
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39. We are spending more time on screens
ALEX BONO – alex@mkkoventures.com
Source: Google Research - The new multi screen world.
Understanding cross-platform consumer behavior

40. We often move from one screen to another while shopping
ALEX BONO
Source: Google Research - The new multi screen world.
Understanding cross-platform consumer behavior

41. And take a multi-device patch to purchase
ALEX BONO
Source: Google Research - The new multi screen world.
Understanding cross-platform consumer behavior

42. Online shopping is a multi-screen activity
ALEX BONO

43. Purchase is not linear.
The decision making process
happens through different
channels and devices.
#5

44. Channels and medium
Channels to drive traffic (owned, paid and borrowed)
▪ Social: Facebook, twitter, pinterest, g+
▪ Content marketing: blogs, reviews, forums …
▪ Search PPC: adwords, bing, yahoo
▪ Display networks: google, yahoo...
▪ Remarketing networks: FBX, google, AdRoll,
Retargeter, Chango...
▪ Email marketing (+transactional mails)
▪ Apps as a channel
▪ Shopping channel management: groupon, ...
▪ Affiliates
▪ Online PR
▪ Partnerships (banks, credit cards, other sites)
▪ Video: YouTube (content)
▪ Offline link: QR promo codes
▪ Messaging apps / Third party apps
▪ Video games (game consoles)
ALEX BONO
▪ Kiosks and ATM’s
▪ SMS
Screens
▪ Smartphone
▪ Tablets (different sizes)
▪ Laptops/Desktops
▪ Interactive TV
▪ Smart watches (coming soon)
Different ad platforms
(channels) and devices deal
with very different states of
mind for the target
audience!

45. Understanding key questions…and create your
framework
Which channels produce results and which only
traffic?
ALEX BONO

46. So…
Which channels do work alone and which
interact to convert?
ALEX BONO

47. So…
Which channels reduce the time to
purchase/convert?
ALEX BONO

48. So…
Which channels are enablers and which ones
are finishers?
ALEX BONO

49. So…
Which screens work better for the channel?
ALEX BONO

50. Remember…
Channels are a mean.
Touch points are interactions
▪ Factors such as:
▪ Relevance of the advertising
▪ Stage of the customer journey
▪ Audience
▪ Targeting and segmentation
▪ Location
▪ Context
Condition the effectiveness of the channel driving traffic
ALEX BONO

51. Invest to convert
ALEX BONO

52. Multichannel (funnel) conversion paths
ALEX BONO

53. Multichannel (funnel) conversion paths – Attribution
models
▪ Marketing channels do not work on isolation
▪ Assign conversion to the “last click” may be biasing the overall
marketing efforts and the interaction of the channels
▪ Attribution models that can measure multichannel performance
will get more relevant
ALEX BONO

54. Strategise. Plan how to use
channels as effective touch
point to engage customers#6

55. In site optimization is key to make channels effective
▪ Landing pages segmented by channel and device
▪ Visual experience
▪ Usability
▪ Responsive or mobile site
▪ Navigation
▪ Speed
▪ Responsive marketing (bounce exchange)
Are absolutely key to increase conversion rates and make touch
points effective
ALEX BONO

56. In site optimization is key to make channels effective
ALEX BONO
RED BUTTON
Increased 21%
conversions

57. A Framework to improve conversion rates
▪ STRATEGIZE
▪ PLAN
▪ MEASURE
▪ ANALYZE
▪ TEST
▪ OPTIMIZE
ALEX BONO

58. Invest to convert
▪ Marketers investing 10-25% of their time in optimization have
higher conversion rates (>2%)
▪ Those investing more than 5% of their budget on optimization
tactics are more likely to have higher conversion rates >2%
ALEX BONO

59. How to increase revenue 101
steps on how to increase revenue
1. maximize exisitig traffic
2. identify barriers and remove them
3. widenning the conversion funnel
4. reduce churn rate
ALEX BONO

60. Example
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G+  2% up
3 steps signup  40% up
Price  15% up
Maybe later  10%
67% uplift in sign-ups

61. Example
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Changing the incentive.
Conversion decreased 48%

62. Most popular optimization tactics
ALEX BONO
Source: Millward Brown Digital 2013 –
Conversion optimization Report
use more than
four tactics.
27%

63. Test and analyse (conversion flow)
▪ Analytics
▪ Experiments: A/B, MVT
▪ Behavioural tools (bounce exchange)
▪ Copywriting
▪ Personalization tests
ALEX BONO

64. Have a framework to test
systematically.
#7

65. And you need technology to execute
▪ Testing, experiments and optimization (optimizely,
google…)
▪ Analytics (Kissmetrics, google analytics, comscore,
quantcast…)
▪ BI (gooddata, Rjmetrics….)
▪ Sales enablement
▪ Email marketing (mailchimp, exact target…)
▪ Mobile marketing
▪ Social and search ads tech
▪ Remarketing tools
▪ Browsing behaviour (bounce exchange…)
ALEX BONO

66. Test and analyze
ALEX BONO
▪ Some tools good to start with:
▪ Analytics/BI: Google Analytics, KissMetrics, Mixpanel,
segment.io, Custora, GoodData, Omniture, Clicky,
RjMetrics
▪ Survey: Survey Monkey, Survey.io, PollDaddy
▪ User Testing: Crazy Egg, clicktale
▪ Experiments and Testing: Optimizely, Google
experiments, Visual Web Optimizer

67. Marketing, strategy and
technology need to all work
together.#8

68. Take aways
The only best practice “best practices” I would recommend to
optimize your conversion rate and your channels efficiency
would be to strategize, plan, test and analyse to master customer
journeys.
…listen to advises…
but
Every business is different
ALEX BONO

69. Take aways
Do one step at a time
Do what you understand first
ALEX BONO

70. Do not master channels.
Master Customer Journeys
#9

71. #1 Conversion rate is not an aim. But a consequence.
#2 Your site needs a mission.
#3 Understand the customer journey to improve your
conversion rate.
#4 Manage your touch points, ensuring good experiences at
every turn will increase your conversion rates.
#5 Purchase is not linear. The decision making process
happens through different channels and devices.
#6 Strategize. Plan how to use channels as effective touch
point to engage customers
#7 Have a framework to test systematically.
#8 Marketing, strategy and technology need to all work
together.
#9 Do not master channels. Master Customer Journeys

72. Thank you
Alex@mkkoventures.com
Twitter: @albono