//Creating a Business Around Your Website: Learning After Launch to Foster Growth

Creating a Business Around Your Website: Learning After Launch to Foster Growth

 

 

This article is part of a series on best practices in website development, followed by Marketo's web development team. You can learn more about the pre-planning process How Create a Plan of Action, to Prepare Your Team and Your Project for Success ] throughout the construction process and finally how manage the process of putting into production in our previous messages.

From your website to all the apps you've developed, any digital product that touches your customers throughout their journey, from sale to delivery, must be considered a child that requires attention and instructions constant. Imagine having a glimpse of the three things your child should learn every day. What if these three things increased their chances of achieving their dream of becoming an astronaut or professional athlete by 400%? Or what about the three things that will help them avoid harmful diseases like cancer and 1000% diabetes? Unfortunately, this platform does not exist – although I'm sure many parents would pay millions of dollars to get this information. However, with the proper configuration and process, you can get this type of information to create the optimal plan for your digital child's health.

In this blog, we will prepare your website to be a source of continuous learning for your business. We will discuss tips for teams, goals, timelines, data, tools, ideas and angles. Sorry, there is not yet an eye-catching acronym for this, but if you find something to help you remember, let me know in the comments below.

SCRUM team

These are your stakeholders. This should not be very different from what stakeholders have enabled for the product Return on Investment Planning except that team members may be different depending on the size of your team.

If there is a function or department missing from this initial set of stakeholders, be sure to plug this hole now. For true continuous learning, you need a representative of every aspect of the business. Representatives from support, sales, content marketing, social media, SEM, SEO, training, user experience and engineering need to be included to get a more holistic picture . Each member of the team has a different vision of what is important for the user journey and what defines success and failure. Do not miss any piece of this puzzle and you will miss opportunities to improve the possible business results with your digital products.

This may sound like a lot of voices in the room, but a complete view is needed to succeed. With so many voices, it's important to have tight programs with strict guidelines and timelines.

Fix an Agenda

Here is an example of an agenda and the process to manage it:

Introduction and recall of OKRs, available resources and the process to follow. All newcomers' questions are currently in the field: 5 minutes
Leader of the presentations: 10 minutes each
Learned from last week: 5 minutes
Do you want to learn / test this week and suggest ways to learn: 5 minutes

Recommend the order of presentation
Customer service
New marketing client
Sales

Q & A on resources to clarify design, development or other resource estimates: 10 minutes
Vote: 5 minutes

Program and Process Management

Presentations: Each department has a total of 10 minutes to make its presentation. The short presentation window keeps things focused. All questions are left for question period before the vote. Each member of the team must be prepared with:

What did they learn and how? For example, 33% of visitors request demonstrations on the use of the messaging service provider (ESP). They found the website confusing and could not find details about how the PES worked. We discovered this through the tracking of demo requests and the survey of 10 visitors who requested ESP demos.
You want to learn / test and how. For example, how a video demo and a new landing page with a feature comparison can reduce support requests and increase premium conversions. Our goal is to reduce the number of customer support requests by 10% and increase the number of premium conversions by 5%. We believe these benchmarks are reasonable because of the percentage of visitors who submit a request for assistance or additional PES information requests.

Complete the planning table

While the ministries introduce the leader of SCRUM, he completes the chart on the whiteboard:

Section learned:
What was impacted
Why
What percentage

Suggestion section:
Type of suggestion (content, tool, functionality, other)
Percentage of audience, this would have an impact
Size of the audience with whom they wish to test
Expected impact
Time / cost / resources to implement

Voted

At the end of the meeting, the team will vote on each item. If there is equality and lack of resources to perform the best results, there is a brief open discussion and a final vote of the product owner.

Note that these data are also essential to help management identify the return on investment of the expansion of the team. It is difficult to ask for more resources.

Process Management

Start by setting up your whiteboard. I recommend proceeding as follows:

Left: OKRs established for this quarter or month so that the team remains focused on priorities during the vote.
Under the OKR: available resources essential to the implementation of optimization strategies, including number of hours of design, engineering or content creation.
The table, which contains the strengths and suggestions of each service presentation, lists each department speaking in order, so that it can know in turn.

While the presentation process becomes a fluid part of your planning, you should be able to reduce the presentations by five minutes, if possible. If it takes more than 10 minutes, there are too many goals per week, the results and suggestions are not prepared, or you allow too many questions / answers. Remind everyone of the strict rules: if they are not prepared, they will not show up.

Objectives and Key Results

The objectives and key results (OKR) give you a north star. These are sometimes called goals of your business. You need to know where you are going and why. How much profit do you need to generate to cover your monthly expenses? How many customers do you convert per month based on the average monthly profit per customer to reach this monthly minimum? How many new leads do you need to generate to convert the number of customers required? You can see how the North Star setting allows all other OKRs to align perfectly – up to the extent of the performance of one campaign compared to another.

It does not matter if the numbers you start with are accurate. What matters is that they are based on what is important for your business. Start with what you know and come back from there. Do you know how much your monthly fees are? Do you know how much an average customer generates each month?

Chronology

If you've never heard the phrase "time-based goals," learn it. The OKRs have this intrinsically integrated. Each goal must have a lapse of time. Otherwise, there is no common unit of measure. How much will it cost to acquire 10 new customers in 30 days? Without the 30 days, the whole of your plan changes. Time is the most important and consistent unit of measurement for you to achieve your goals. Your bills will not wait six months. Your goals of developing the business and paying your bills can not wait either.

Data

What data do you need to see what works and what does not work? Examples include clickthrough rates, cost per click, conversion rates, the average business value of a customer and the lifetime value of a customer. Identifying the different data points needed to better understand what works is the foundation of a sound analysis plan.

Tools

What tools will you use to measure the data? Tools include Google Tag Manager, chatbots, tracking codes, tracking pixels, and Lead Gen Forms with built-in analysis tools. These are the tools you will need to capture and organize the data that will give you insight into what works and what does not work.

Examine the tools as an open field and choose what suits you best. From my experience, you can often get a better result by using Google tags to track Google's data and API to create a custom analytics dashboard providing the exact information your team has. needs daily and weekly.

Overview

A solid (or analytical) information dashboard will tell you where to double and where to fall back.

Reflections should highlight behaviors such as measuring the time spent on the site and the rebound rate based on personality. For example, you can see an average of three minutes on a page with an 80% bounce rate for a particular person you see. This tells us that a specific type of user (person) took three minutes to become familiar with your product, and then ended on the registration page . This could mean that this character is a window buyer or that there was something specific that they were looking for in the price and features chart that was not included.

If I saw a rebound rate of 80% with an average of three minutes on the site, I would proceed as follows:

Examine the current client's data to identify the number of clients that match that character. Maybe this person is not the ideal client profile.
Conduct interviews with clients to find out why they converted and what would have created frustration or had them quit .
Create two to three premium sign-up options for the A / B test that offers a higher conversion for the same character.
Create an exit survey offering 90 free days to understand why they decided not to buy.

Knowledge improves return on investment

Insights should tell you which campaigns offer a better return on investment. Suppose an example where there are two campaigns with a total of 100 new leads generated per campaign.

25% clickthrough rate, $ 1 cost-per-click, 1% conversion rate, $ 100 LTV, or $ 75 loss
5% clickthrough rate, $ 3 cost per click, 15% conversion rate, with an LTV of $ 1,000 = $ 450 profit

If you only use click-through or cost-per-click to choose the best-performing campaign, you will lose many thousands of dollars in advertising per month.

From there, I see that the problem is the adequacy of the product market. During the first campaign, the message generated a lot of interest, but very little interest for the product, even at a low entry price of $ 100. Reasons may include: The person doing the research does not have the power to make a decision, they only window shop or the campaign was misleading and the user landed on the wrong page.

You may be wondering how to analyze all these "ideas" to determine what works and what does not work? Hire a vice president of the angles.

VP of the Angles

The only job of this person is to search for opportunities in your data. Their key function is to identify where and how to make improvements by doubling where and how to test more to identify triggers for identified behaviors and what to kill.

A good vice president of Angles will have a CRO framework (or conversion rate optimization) that he will use to analyze the opportunities and risks of complying with the OKRs. They will also have a MED optimization approach (minimal effective dose).

Here is a summary of the two CRO frameworks that I use and how I implement MED:

AIO frame (all-in-one)

What
How
Why
Start small with fruits on hand, resulting in immediate impacts
Zoom on the key pages of the user funnel:

. First 5 pages with high bounce rate

. First 5 pages with a high exit rate

. Top 5 pages with the least amount of time

. First 5 pages of figure

. Top 5 best pages dedicated to time

. Top 5 offline page loading

Use data and interviews to identify optimal solutions to identified problems such as:

. Google Analytics

. Lead Shapes

. CRM

. User Interviews

. Inciting exit investigations

. Incentive Entry Surveys

. Interactions of Chatbot

. Investigations by e-mail

. What is the revenue potential?

. What are the cost savings?

. Are the gains incremental or does the game change?

. How much will it cost? (team, time, costs)

PMI Frame (Plan, Measure, Impact)

What plan
How to measure
Why (impact)
. Who are we trying to persuade?

. What action do we want them to take?

. What action do they want to take?

. The actions we want them to take

. The pages we are going to test

. Landmarks for Success / Failure

. The sample size required for precision

. What is the revenue potential?

. What are the cost savings?

. Are the gains incremental or does the game change?

. What will be the cost to perform tests? (team, time, costs)

Evaluation systems

Each of these systems has a simple evaluation system to evaluate options. Rate each impact on a scale of 1 to 5, with 5 being the test with the speed, impact and cost of the highest resources. Each score is multiplied by five and the total obtained is used to identify the best performing tests.

Personally, I like to use the MED (minimal effective dose) as a super vote.

MED is the smallest contribution needed to achieve the desired result. For example, if you want to boil water, the MED is 212 degrees Fahrenheit. Increasing the temperature above 212 degrees will not produce a better result, it will simply waste resources.

Example: What will the MED generate a new business figure of $ 1 million next quarter?

Option
Time
Cost
PROVEN KING
Insider Top Referring Event
30 days to plan
$ 10,000
$ 2 million in new business opportunities
Launch a new sponsorship bonus program
1 day to launch

30-day Awareness and Activation Campaign

$ 0
Unknown
New content marketing program
2 weeks to build

30-day Awareness and Activation Campaign

$ 25,000
$ 1.5 million in new business converted

Now you have all the tools and processes you need to measure and successfully manage your web development process. What you do with it depends on you. I would love to hear about your web design process in the comments below.