I’ve seen this many times. The CEO of an entrepreneurial business spends upwards of $200K a year on marketing and does not see the results they want. On the surface, it seems like all the elements are in place. An experienced marketing team, a robust marketing plan, and monthly reports showing increasing numbers. So how do you identify where the problem is?
Start with the marketing plan
I start with the marketing plan. Most look great and are jam-packed with solid initiatives. Google Adwords, Facebook, Instagram, Speaking, etc. Sometimes not all the initiatives are being implemented because of time constraints and sometimes there are too many initiatives for the size of the team. This aside, it’s the reporting that can tell the story, but you need to read between the lines.
What to look for in marketing reports
When I go through the reports, I often see Increases in followers and likes on social media as well as increases in traffic to the website – all good. As an FYI, I don’t base much on Facebook or Instagram likes, and in some cases, it’s not where the audience is.
I often go through dozens of pages of Marketing reports before I find the needle in the haystack, Bounce Rate. The bounce rate represents the percentage of visitors who enter a site and then leave rather than continuing to view other pages within the same site. If it’s a high number, your visitor left quickly.
You may be getting traffic to your site through various channels, but if they leave quickly, all the money you’re spending to get them there is not generating leads or getting you new clients. Bounce Rate is important. It’s one of the main stats you want to look at. 26 to 40 percent is excellent, 41 to 55 percent is roughly average. 56 to 70 percent is higher than average, Anything over 70 percent is disappointing.
Why your bounce rate may be high
The obvious reason for me is that nothing is compelling to keep them on the site. It may be the words, the visuals, or both. Nothing is leading them to the next page or to sign-up for a newsletter or lead magnet. The keywords may be getting people to your site, but it’s not compelling enought to stay. How many Websites do you go to and leave within 2 seconds?
The other possibility is that the wrong people are coming to the site. This connects to the target audience. If the marketing team is not clear about who your ideal client is, they may be targeting the wrong demographic, and if the wrong people are coming to the site they will leave quickly.
How to improve your Bounce Rate
If your bounce rate is high, take a deep dive into the kind of client you are trying to attract and make sure your marketing team understands who they are. Personas are often useful for this. Unfortunately, many of today’s marketers are well trained in marketing strategies but not in branding which is the foundation piece of all marketing. if you are not clear on your ideal client or the message that will speak to them, your marketing dollars may be going out the window. One of my brand mentors taught me many years ago that if you don’t begin with the brand, it’s like building a house beginning on the second floor.
Check out your bounce rate my friends and see if that’s your problem!