When most people first hear the words “conversion marketing,” they get a slightly confused look on their faces and they search their brains, looking for anything that could help them figure out what the heck are they talking about? The idea behind conversion marketing really isn’t as complicated as it may sound; basically, it’s the process of getting a consumer to do whatever it is that the producer wants them to do, such as buying something on their website or, in the case of UF Young Entrepreneurs for Leadership and Sustainability, submitting an application for their program.
As YELS’s March 1st deadline approaches, the program’s main concern is getting enough applications. That’s not to say that they haven’t been successful, but for every summer program, the goal is to get as many applicants as possible, right? Using conversion marketing ideas, YELS is looking to increase its number of applicants on a yearly basis. In order to make this happen, the program needs to become more well known. Word-of-mouth is one of the most effective ways to get people interested in any type of product, and YELS hopes to use this type of free advertising to achieve its goal. Setting up a Facebook fan page, making its website more to-the-point and appealing to highschoolers, and even possibly creating YouTube and Flickr accounts will all help this process of getting teens to spread the word.
How will the company know if they’re taking steps in the right direction? Of course, if they are successful in reaching their goal at the end of the day, then they know for sure. Another way to find out is by using programs such as Google Analytics to track the number of views their website is receiving, along with the bounce rate and other things related to web analytics and conversion marketing.
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The innovative picture does a good job depicting your whole post. It’s definitely worth while noting the different end-points for different companies. Just like with YELS having an endpoint with a complete application, there are millions of other endpoints for other websites.
[...] take is that there is a conflict of interest in applying the funnel towards gaining sales. This is because, in many situations, application of analytics increases [...]
Thanks, Joey.
As far as how this post was linked to the other post “Conversion Marketing is a Tool for Tools”… That post implied that I was saying that YELS was only hoping to get people to purchase something. While, yes, they will be making some money from the submission of an application, that isn’t their end goal (as was pointed out in my post and confirmed by Joey’s comment). Their goal is simply to get people to apply. In reality, the program itself prides itself on the fact that it’s a “break-even” company; they try to make enough money so cover their expenses, and then the rest of their profit goes towards the scholarships they give out to help their students pay for the program.
Sorry, but I just wanted to clear that up with the author of the other post and anyone who may have read it.
I agree with Joey.
I linked to your post because it had a great picture explaining the use of the funnel in conversion marketing. I did not mean to imply it was unethical. I’m glad we’ve cleared this up. Good luck putting your plan to action!