Startup Advice from Stewart Rogers — Don’t Shout, Convert
As the marketplace becomes increasingly more competitive, a plethora of marketing methods coexist especially in the marketing technology sector. If your startup isn’t using one of the marketing tech platforms out there, Stewart Rogers, Director of Marketing Technology at VentureBeat Insight, strongly advises you to engage with marketing technology to support your sales and marketing efforts early, especially focusing on Conversion Rate Optimisation, if you want amazing results. VentureBeat Insight is VB’s research arm and one of the best analysis and reports resource sites.
Conversion Rate Optimisation (CRO)
“CRO is free money for your organisation.” — Stewart Rogers, VB Insight
Loads of brands believe that the only way to get more viewers converting to customers is by increasing the viewers via original content, paid media, etc., which is costly. Stewart suggests companies to concentrate on their current audience and increase conversion rates just by using free CRO tools. “The average return on investment for CRO is 223.7%. Up to 5% of the people I’ve surveyed are actually getting over 1000% return because they’re using CRO.” So, the secret to marketing technology right now? Find the right CRO software early on to really kick off your marketing plan.
We hear about analytics software all the time. How does that take part in the whole marketing tech scene? Stewart’s two cents: “There are tons of analytics software out there… it’s the ridiculous attention to detail and data that is going to help you win. If you don’t know what is happening, then you can’t create a hypothesis to create a test from, to then work out how to make it better.” Look into the users’ journey and then test changes to the steps along the way to see where you can optimise conversion.
When it comes to driving serious conversion rates, one old-school method is still king. “Email marketing is still the most important channel if you want to get a return on investment. It actually makes more money back than CRO.” When building your email list early on, Stewart reminds startups to talk to your customers like human beings.
The Magic Words: “Which Means That…”
Last but not least, Stewart has three words that should be a motto for all startups marketing their product: “If you ever find yourself talking about the flashing lights on your product—stop —you have to turn every feature into a benefit. The best way to do that is with 3 words: which means that. So, if you say, ‘We have an incredible dial that goes up to 11, which means that you can play our sound system louder than anyone else’s.’ That is the benefit. And that’s what you market and you shout that from the rafters.”
Plenty of startups may rush into marketing their product and/or service without checking what resources are out there, especially in marketing technology, nor looking at their current users’ journeys. Do the research, plan accordingly and with a bit of effort, you’ll be successfully driving sales. If viewers aren’t converting, keep testing or ask the source themselves. Start developing a solid email list from the beginning, study data you’ve gathered and keep innovating and experimenting with marketing tech tools.