simon melaniphy business mania bournemouth university talk 171110
DESCRIPTION
Refreshed Media Managing Director Simon Melaniphy gave a 1 hour talk to students at Bournemouth University's Business Mania Group on setting up and growing RefreshedTRANSCRIPT
Simon Melaniphy
Twitter.com/SimonMelaniphyTwitter.com/Refreshed_Medialinkedin.com/in/SimonMelaniphy
Today’s Session
1.Who am I and Refreshed Media?
2.What’s it like to run a business?
3.What makes success?
4.What helped make Refreshed
5.Your questions
The Emerge Group
• 36 year old founding director & MD Refreshed Media
• GCSE business studies & A-level • BSc Software Engineering
• Businesses• pinboards // promo company• run club nights• DJ agency• headphone boosters• Impact Internet Services• Refreshed Media
Simon Melaniphy
About Refreshed Media…
A full service marketing group with big digital ideas
• Established since 2003 as a full service digital agency
• Local and national cross-sector client base
• Multi-award winning
• Strategic marketing, planning plus all the digital, media and
traditional tactical skills to make it happen
• Highly competent IA, UX, creative and development resource
Focused on traffic generation and lead & sales conversion
• Google Adwords Certified Partner
• Test and measure to improve your website conversion rate
• Google Analytics qualified consultancy
The Emerge Group
Refreshed Media is proud to be a key part of Emerge Group:
•One of the UK’s top 50 independent communication groups
•Delivering an integrated offering:• strategic marketing • digital • “traditional” marketing, advertising and print• media planning and buying
•Over 100 staff in Bournemouth, Reigate, Manchester & Edinburgh
•A financially sound group turning over £25m & holding no debt
Emerge Group
We’ve worked with clients from…We’ve worked with clients from…
Comet – Tweet The Parcel Game
Comet – Tweety Uppy World Cup Game
BBC Radio 1 Interactive Video Campaign
Complete Cruise Solution
Meetdraw
Welcome to our World;Examples of our Work
Global Entrepreneurship
Week
The Emerge GroupGlobal Entrepreneurship Week
Welcome to our World;Examples of our WorkWhat’s it like to run
a business?
The Emerge GroupWhat’s it like to run a business?
Welcome to our World;Examples of our WorkWhat makes
success?
The Emerge GroupWhat 4 qualities helped these people achieve?
Vision
Belief
Determination
Passion
The Emerge GroupStart with the end in mind
…but enjoy the journey…and celebrate!
The Emerge Group
Product specialist
The Team – !!!!!!!! MASSIVELY IMPORTANT !!!!!!!!
Sales / Marketing /
Account Management
Accounting & administration
Leadership & vision
The Emerge GroupKeep Learning
“Delayed gratification”
The Emerge GroupKeep Learning
• From technician to entrepreneur
• Build systems
The Emerge GroupKeep Learning
• “There is always a way if you’re committed”
• “The path to success is to take massive, determined action”
• “Stay committed to your decisions, but stay flexible in your approach”
• “Setting goals is the first step in turning the invisible into the visible”
• “Passion is the genesis of genius”
• Watch for plateaus
The Emerge GroupKeep learning
The Emerge GroupKeep Learning
The Emerge GroupKeep Learning…from a mentor?
The Emerge GroupGrow your network
The Emerge GroupYou don’t need money (well perhaps a little!)
Welcome to our World;Examples of our WorkThings that helped
make Refreshed
The Emerge Group
• Do what you love and what you’re best at….
• Clients love it!
• Makes the hard times easier
Passion!
The Emerge GroupLook big from the start!
The Emerge GroupFocus!
The Emerge GroupGreat Team!
The Emerge GroupSales & Marketing!
The Emerge GroupGood accounting and forecasting!
The Emerge GroupWork hard!
The Emerge GroupKeep Developing...
Website Conversion Definition
“A desired action taken by a website visitor”
Types of conversion?
•E-commerce sale
•Completed enquiry form
•Newsletter signup
•Software download
•Membership signup
•Free trial signup
What Is A Conversion Rate?
Goal achievements
________________________ x 100
Website visitors
e.g. 200 conversions
_______________ = 2% conversion rate
10,000 visitors
What Conversion Rate Should I Expect?
•Varies significantly
•E-commerce sales = 0.5% to 8%
•B2C typically 1% to 2%, best in class = 5%
•Retail financial services typically 1% to 2%
•Free subscriptions to paid subscribers = 1% to 7%Stats courtesy of Fireclick.com
•What do you NEED it to be to generate a positive ROI?
Return On Investment
Example, if a conversion = a sale @ £100 & PPC average CPC of 50p
Monthly Investment Visits Conversions Conv. Rate RevenueSearch Engine Marketing £15,000 30,000 450 1.50% £45,000
Option 1 = Increase SEM Investment (£2k):
Monthly Investment Visits Conversions Conv. Rate RevenueSearch Engine Marketing £17,000 34,000 510 1.50% £51,000
Option 2 = Invest in CRO
Monthly Investment Visits Conversions Conv. Rate RevenueSearch Engine Marketing £15,000 30000 750 2.50% £75,000Conversion Rate Optimisation £2,000
Conversion Rate Optimisation
“39% of companies are
dissatisfied with their
website conversion rate”
Econsultancy, 2010
What is CRO?
The process of measuring, understanding and adapting your website in
order to better suit visitor needs and in order to achieve website objectives.
Visits
CRO: Analysis,
Measurement, Testing
More
conversions /
sales / leads
CRO Process
Heatmaps
Scroll Analysis
Are visitors reaching the bottom of your pages?
Conversion Rate Optimisation– Split Testing
• One of these designs gained 25% more conversions that the other – which was it??
Case Study: Natural Training
Version 2 = 60% more likely to click, 40% more likely to convert!
• Through GA & user tests identified page which converting visitors usually visited
•Struggled to find call to action
•Tested positioning, designs and language
CRO: Multivariate Testing
• 9 different versions of this page section...
• A massive 300% difference in conversion results
3 different colour tab versions
3 different text versions
= 9 different page versions
Case Study: National Express
The winning version increase conversion rates by 14%!
Keep Innovating
• CRO has been a good complimentary upsell
• A differentiator / USP to many agencies
• Keeps the conversation with the client about ROI
Welcome to our World;Examples of our WorkSummary
The Emerge Group
1. Can you do it? Yes! But do you really want it?
2. Keep learning
3. Sales is as important as the product
4. Build the team
5. Keep passionate and enjoying it
The most important bits
Simon Melaniphy
Twitter.com/SimonMelaniphyTwitter.com/Refreshed_Medialinkedin.com/in/SimonMelaniphy
SlideShare.net/RefreshedMedia