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DIS Opens New Kollegium in Frederiksberg

DIS Opens New Kollegium in Frederiksberg

The Kollegium is home to 93 local students, 10 international students, and 135 DIS students. DIS is thrilled to give back to the local community and create a unique, international environment in Copenhagen.

A Focus on Cultural Exchange

This past fall, local and international students applied to live at Nimbus under a competitive process, where willingness to be an active and engaged part of the Kollegium was a large requirement. Selected students interviewed with the DIS Housing Team. (DIS students continue to apply to their housing on Student Registration as done previously.)

Before opening up the application process to the general public, DIS reached out to students who are a part of the DIS community, such as students of previous or current Homestay or Visiting hosts, and gave them an opportunity to apply beforehand. These 30 residents are key in laying the groundwork for an international and open environment.

Local resident, 23-year old Rasmus Bjørn-Rosager, whose parents are still active hosts and have had nine DIS students living with them through the years, looks forward to living with DIS students in the Kollegium:

“It will be exciting to live in an international environment where there are possibilities for such interesting conversations and where we will meet different perspectives on life, as well as build friendships and a network.”

The Inauguration of the Nimbus Kollegium

DIS held an inauguration of the new Nimbus Kollegium on January 5th, 2018, where a number of speakers articulated their enthusiasm for the project process as well as the future of the Kolllegium.

DIS Executive Director Malene Torp opened the event, handing the mic to Jørgen Glenthøj, Mayor of Frederiksberg. Glenthøj spoke about the “many cultures [that] will meet and networks [that] will develop.”

Leif Beck Fallesen, Chairman of the DIS Board of Directors, spoke about Nimbus Kollegium representing one of the core DIS values, of studying abroad to open minds to global issues and challenges. Additional speakers included Henrik Jensen, CEO, De Forenede Ejendomsselskaber, Jacob Hicks, Kollegium Community Facilitator, DIS, and Bente Münsberg, Resident, Nimbus Kollegium.

History of the Buildings

Designed by Henning Larsen Architects, the Kollegium is located between Finsensvej and Peter Bangs Vej. Previously, Fisker and Nielsen’s company headquarters produced the Nilfisk vacuum and Nimbus motorcycle on the same land. Representations of this history are seen on the walls and doors, with posters and engravings throughout the buildings.

DIS Students Arrived on January 13th, 2018

On Saturday, the first group of DIS students to ever live in Nimbus arrived and met the local students, who moved in one week prior. We look forward to hearing stories of the semester and how the community forms together.

>> Are you a student in Copenhagen and interested to find more information? Read about Nimbus Kollegium here (in Danish)

>> See a video featuring the new Nimbus Kollegium rooms and spaces  (in Danish)

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Why Sales Reps are the Best Marketers in Your Company

Why Sales Reps are the Best Marketers in Your Company

Every marketing playbook begins with “know your target market.”

It’s preached day in and day out by the top marketing pros. Every well-paid exec learns this on their first day on the job.

And for good reason. Knowing your target market is critical to generating traffic or converting sales.

But what does it really mean?

Most playbooks will tell you to fill out the classic buyer persona or demographic template.

What does that tell you, though? Honestly.

BMW sells convertibles to old, white, bald, suburban dudes who make a comfortable six-figures a year.

Ok. Now what?

That doesn’t tell you why they buy. That doesn’t tell you how to reach them, where they hang out, who influences them, or how to upsell them at the right time.

To make matters worse, most companies sell to multiple customer personas. And each one buys for vastly different reasons.

So shoe-horning them into a single box of…

Age
Gender
Location

… isn’t going to bring in paying customers.

Many marketers want to jump the gun. They go straight into A/B testing multiple audiences, for example.

You need 1,000 conversions monthly, minimum, to get results with statistical significance. And if you’re testing variables against a single persona, that means you need multiples of 1,000 conversions for each one. Which is one of the many reasons why A/B tests often fall flat.

Sales reps, on the other hand, know your target market inside and out. Even the lowest SDR on the totem pole has your target market down cold.

They deal with annoying sales objections all day long. They know what makes your target customer tick. They know what pushes them off the fence and what turns them into paying customers.

How? Because they’re in the trenches talking, learning, experimenting, and failing on a daily basis.

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Sales reps spend 41% of their time selling. Dealing with real customers in your target market. Finding out if they’re qualified to buy, or if they aren’t.

Meaning they know major things that marketers struggle with:

Who’s gonna buy from you
Why they’re gonna buy from you
Why they’re picking you instead of competitor A who charges less
Who ain’t gonna buy from you
Why they ain’t

That’s more powerful than any buyer persona template you can come up with. And according to HubSpot’s State of Inbound Report, leads sourced by the sales department are among the highest quality (outside of unicorn-esque personal referrals).

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And they also produce the most leads and sales for a given business.

Sales reps understand customer motivations and preferences deeper than marketers do. Because without speaking one-on-one or meeting face to face, you can’t learn everything you need to learn about them.

They know how to sell without selling

You’ve just walked into a car dealership to scout new vehicles. It’s time for an upgrade.

You walk in the door and instantly realize you’ve made a big mistake.

It’s all downhill from here.

Time for a cup of terrible black coffee from the helpful car salesperson grinning from ear to ear. “Another deer in headlights,” they think. Practically licking their lips.

You know exactly what’s coming. But you still can’t avoid it.

You want the damn car. You’re practically foaming at the mouth.

You told yourself to be strong. To fight back. To flee from temptation.

But that smooth-talkin’ sales rep just roped you in.

They sold to you without selling.

90% of the sale happened before you ever stepped on that filthy lot. They built a brand image around the product. They didn’t even tell you to buy the car. They didn’t talk about its features or its wonderful quality.

They didn’t ask you to sign anything, read anything, or even what package you wanted. They simply got you to take a test drive.

See, we buy based on emotions. Ones that never show up on the Customer Persona deck circulating your department’s Slack channel.

They made you feel like a star when you got behind the wheel. That’s selling without selling. And sales reps are king at it.

It’s simply another form of branding that’s unmatched by most online attempts. And branding drives sales:

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Sales reps don’t know how to leverage branding or deliver an amazing customer experience because they read about it on GrowthHackers.com.

They know because they know. Because if they didn’t know, they wouldn’t eat.

Sales reps know how to sell to existing customers

Landed a few new clients from that latest marketing campaign?

“Run another one and double the acquisition! We just need X more traffic to land Y in new leads.”

Except, of course, those are just leads. Not sales.

And most new sales are completely unprofitable at the beginning.

So that’s not where the money’s at. Savvy (and wealthy) salespeople focus instead on where marketers don’t: existing customers.

You know, the customers who already use your product or service. Who already pay you cold hard cash. The ones that cost 5x less to sell to.

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But marketers aren’t really at fault for this. Our system/current mantra is that marketers exist to drive traffic. New inbound leads.

Content is king, right?

Their sole goal at most companies is to bring in more visitors. Meaning they often get caught up in customer acquisition and acquiring as many new visits as possible.

That leaves almost no room for focusing on marketing messages to existing customers.

Even worse, the deck is stacked against marketers. The mass majority of channels used by marketing departments are better for acquisition than retention:

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State of Inbound found that marketers’ top priorities consisted of entirely acquisition-focused tactics, too:

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On top of that, only 42% of companies can measure customer lifetime value with any accuracy. And if we know anything about real data, that data is probably wrong.

If you can’t measure lifetime value, you can’t know the potential of your existing customers.

That leaves you with one option:

To keep turning the wheels to avoid customer churn. To go back to those acquisition-based tactics. Bring in new leads with inbound strategies and make sure the CPA is low enough to allow for profits.

But sales reps are different.

They’ve built real, lasting relationships with the sales they’ve closed.

They don’t get paid based on Twitter followers. They get paid based on new real revenue.

And the money is in the list.

No, no the crappy email one full of unqualified subscribers who aren’t ever going to pay you. (Those influencers are wrong.)

The money is in the existing customer list because the probability of selling to an existing customer is 60-70%. Increasing customer retention by just 5% can increase profits by 25% or more.

Selling to existing customers is easier. And more profitable.

But typical marketing gigs don’t allow room for that. Marketers drive the traffic and email signups. Sales maniacally focus on dollars and cents.

Your sales reps actually talk on the phone

I know it sounds crazy. Phone calls? Is this 1973?

But phone calls are extremely important in today’s world.

Here’s why.

According to HubSpot, the most successful channel for sales reps to connect with a prospect is via phone:

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That means more deals. And more real, tangible sales are landed on the phone than any other channel.

Sitting on social platforms all day doesn’t drive big-ticket sales.

Sure, it can be great for generating brand awareness, but when push comes to shove, phone calls convert best.

Want to reach C-level executives, VPs, and managers? In other words, decision makers? Phone calls are your best bet.

And marketers almost never call customers. They’re too busy running around, managing new marketing campaigns.

Sales reps, on the other hand, are taking advantage of outdated phone calls for one specific reason: personalization. The Holy Grail of conversions.

According to AdAge, most marketers say that personalization will be the most important marketing tactic in years to come. But 60% of marketers struggle to personalize their content in real time.

Marketers love to talk about personalization. However, they don’t like to do it.

Phone calls are arguably the most personalized form of communication (aside from face-to-face interactions).

You’re talking directly with the prospect, for extended periods of time, developing rapport. You’re finding out what they did on the weekend, what ages their kids are, their tone of voice, their frustrations or excitements.

Try getting that on Instagram.

It’s real communication where the customer has a voice, and the sales rep is there to serve.

In fact, customers actually enjoy being contacted by phone:

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56% of surveyed customers prefer to communicate by phone for business purposes, after email and face-to-face.

When it comes to big fish like C-level executives and VPs, phone calls and real interactions rank high as well:

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While messaging and social seem fun, it’s not what business communicators or consumers want.

And sales reps are the ones conducting the face-to-face interactions and phone calls, not marketers.

To add to that, the most successful channel for connecting with prospects is via phone:

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Want to drive more sales?

You need to reach your prospects. And the best way to do it is through conducting a good old-fashioned phone call.

Aligning both departments is critical for success

Marketing and sales are often seen as two different worlds.

One has their heads in the clouds, posting cat gifs on social all day. While the other is a sleazy, money-hungry cesspool. (Marketers words, not mine.)

But that’s not true. The stereotypes simply don’t hold weight anymore.

Marketing and sales departments shouldn’t be seen as competition, but rather, two parts of a well-oiled machine.

When marketing and sales teams are tightly aligned, companies state that their marketing strategy is more effective:

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If you’re sales and marketing teams aren’t, you’re likely struggling with marketing.

And the cold hard truth is:

The majority of sales and marketing departments aren’t tightly aligned.

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Some are even rarely or completely misaligned. Meaning most strategies and campaigns are going to have major flaws that hinder revenue.

So your first step is to work on the fundamentals by making sure your messaging is aligned across both departments. Whether you’re cold emailing as part of your outbound marketing or blogging as part of your inbound marketing.

Conclusion

Viral coefficients don’t pay the bills. Neither do 301 redirects or Facebook chatbots.

And therein lies the problem.

Good marketing can’t beat real relationships or high-quality customer service.

Sales reps are actually the best marketers in your company. Even if they don’t want to be.

Experience trumps all, and sales reps almost always have the most customer experience in your company. They know your customers’ ins and outs. Their pain points. Their desires, wants and needs.

Aligning marketing and sales has never been more important according to the latest business data.

Want to become a better marketer? Spend more time selling, first.

About the Author: Brad Smith is the founder of Codeless, a B2B content creation company. Frequent contributor to Kissmetrics, Unbounce, WordStream, AdEspresso, Search Engine Journal, Autopilot, and more.

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Why the Top of Your Funnel is Almost Always More Profitable than the Bottom

Why the Top of Your Funnel is Almost Always More Profitable than the Bottom

Yes. AdWords converts better than most other channels. Anywhere, ever.

But. That doesn’t mean it’s the only option. Or even the best option.

Two reasons why:

First, your cost per lead tends to be higher than other inbound channels. Chiefly because…

Second, AdWords doesn’t scale as well as other options. So you hit a point of diminishing returns. ‘Cause only 3.4% of search queries results in an AdWords click.

That ain’t a lot. ‘Specially on your ~5-10 niche keywords that actually convert.

The trick is to turn your attention from the bottom of the funnel back to the top.

Here’s why the top of your funnel is almost always more profitable than the bottom.

Closing and scaling BOFU deals isn’t sustainable

AdWords has intent. People search, click, and opt-in or buy.

It’s literally trained people to give you money.

It’s the ‘last touch’ so often that it becomes “easy to track ROI.” So like any self-fulfilling prophecy, the more attention it gets, the more “it works.” The more budget and labor and buy-in.

The problem is scale.

Especially when you’re paying $25 to $50+ per click. (Or more — I see you insurance and law.)

Conversions might be good on AdWords. But in many cases there’s (1) not enough to grow your business past six figures. Or (2) there’s not enough margin to reinvest in other areas.

Bottom-of-the-funnel advertising like this works well because you can throw down a few bucks and see a few more bucks come in not long afterward.

But here’s where more problems crop up.

High-end CPCs dramatically push up your Cost Per Leads. That, in turn, pushes up your minimum monthly ad budget. So it’s not uncommon to see ~$30k/month budgets in competitive niches on the low end (I’ve worked on a few myself).

You need so many leads to turn into customers. So you need to cast the net wide enough to convert a few measly percentage points.

Here’s the additional wrinkle, though.

According to a Salesforce B2B benchmark report, it takes an average of 84 days for a lead to become an opportunity:

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And that’s not even a final sale.

84 long, hard days to transition from a lead to an opportunity, and 18 more days to close the deal.

Now. What are your payment terms? Net 30 or worse?

You’re now looking at not recouping a single dollar from that $30k/month budget until the next quarter (at the earliest).

So in reality, you need like four or five times that budget to sustain you. It’s like working capital in finance. You need enough to keep the lights open until the money, eventually, flows back into your bottom line.

Fortunately, all hope isn’t lost.

There’s a powerful antidote to a sluggish, budget-sabotaging funnel. It goes by the name of: Brand Awareness.

The stuff that big, mega enterprises have invested in for years. But most SMBs and tech geeks shy away because it “doesn’t convert.”

Generating brand awareness is a cheap investment

Brand awareness is typically the goal of any top-of-the-funnel campaign.

You want to start positioning your brand favorably within the minds and hearts of consumers.

Unfortunately, it’s often overlooked. It’s the Great Brand vs. Performance Marketing debate.

On the one hand, ‘branding’ is like a clichéd buzzword that’s lost all meaning. And on the other, it’s only seen as viable for large companies with massive budgets. It’s a “nice to have,” not a “must have.”

To make matters worse, it’s nearly impossible to draw a direct line from brand building activities to sales. So it gets dismissed by all hardcore data geeks (even when data itself lies).

But here’s the thing.

When done correctly, brand building is an investment in future sales.

Take a look at Facebook ad expert Jon Loomer’s current ad campaigns:

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What do you notice?

First off, it’s all divided by a typical marketing/sales funnel.

Traffic/reach – TOFU
Lead generation – MOFU
Conversions – BOFU

Now take a look at the daily budgets for each. This is where it gets interesting.

He dedicates the majority of his budget to-top-of-the-funnel marketing activities.

Around $1,500 per month goes to top-of-the-funnel campaigns, and he only sets $300 aside for MOFU and BOFU tactics.

That’s a massive difference.

Why?

Why on earth would he invest $1,500 a month into campaigns that have zero chance of converting?

Why not dump that money into MOFU and BOFU campaigns with sale-based offers?

Because he’s making a future investment. You can’t convert sales when there isn’t enough built-in demand in the first place.

Let me explain with some data.

Nielsen conducted a massive study on understanding what drives sales, and they found that 59% of people buy products and services from brands that they recognize.

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Familiar faces are more likely to get the final deal.

But that’s not all.

SurveyMonkey and Search Engine Land found that 70% of consumers look for a known retailer when deciding which search result to click:

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That’s not surprising at all, really.

Think about it:

When you searched for “inbound marketing” recently, did you click on HubSpot or joeschmoe.net?

I’m gonna go out on a limb and say it wasn’t the latter.

Even if joeschmoe.net were ranking #1, you’d probably still click HubSpot at #5.

Cuz: Brand awareness = trust.

Brand recognition is a powerful way to drive sales.

And once you develop a brand reputation within your own space, you end up being able to drive traffic without having to take the normal funnel stage route.

Meaning you don’t have to pay to drive traffic anymore.

You don’t have to pay for ads and lead magnets.

You just have to focus on closing. You reduce your costs dramatically.

It’s time for some good news:

Building brand awareness is cheap.

I’m talking dirt freaking cheap. Pennies to the dollar cheap.

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According to Moz, Facebook Ads have the cheapest CPM (cost per 1,000 impressions) of any advertising platform ever.

Except they “don’t work,” right?

Maybe, maybe not. But try comparing that cost to the freaking newspaper, magazine, and radio CPMs then:

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And guess what?

You only have to spend $1 per day on Facebook as the minimum daily budget. That means you can reach 4,000 more people a day with ads based on brand awareness for a single measly dollar.

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Using expert-level mathematician skills, that’s 120,000 brand impressions each month for only $30.

That’s just about the cheapest brand exposure you’ll ever get. Like, ever.

That’s 120,000 more people seeing your brand than last month.

Here’s how to implement cheap branding on Facebook to keep your top of the funnel profitable and growing like never before.

Create a self-sustaining TOFU campaign on Facebook

Self-sustaining campaigns run and run and run.

It only takes three easy steps that you can complete in just minutes today.

Create a new, medium-sized saved audience based on your target market.
Create a remarketing audience based on those engaged users.
Create a new lookalike audience based on leads.

With this, you’ll only be spending a few bucks a day while simultaneously creating a campaign that maintains itself.

You just rinse and repeat each time the cycle completes to replenish your audience.

This way, you’re generating thousands of new visits and impressions to build brand awareness every single month.

More brand awareness = more recognition/trust = more sales in fewer funnel stages = less money out of your pocket.

To get started, fire up the Facebook Business Manager and head to the audiences section:

From here, select the option to create a new saved audience:

The saved audience is a great starting point to generate a big enough list for brand awareness campaigns.

Start by entering the basic demographic data associated with your target customers:

Next, it’s time to narrow it down a bit.

You can’t target 200,000,000 people with brand awareness ads. Unfortunately, there aren’t that many people who care about your company.

Start adding various interests related to your company. For example, if you sell SEO services, add that as an interest:

Are your services B2B? Narrow it down further:

Lastly, finish it off with some exclusions to avoid targeting users who typically don’t respond well to your products or services:

Next, hit save and name your audience so that you can recognize it later.

Now, head to the Ads Manager and create a new campaign based on the brand awareness objective:

Then, scroll down to the audience section and choose the saved audience you just created:

Next, set your budget to just a single dollar per day (or more if you have a larger budget):

Now it’s time for the creative.

For brand awareness ads, you don’t want to focus on converting someone to sales. Offers like that won’t resonate with users who have no clue who you are.

Give them value associated with your brand without asking for anything in return.

For example, take your latest blog post and use that as your creative.

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You’re done with the first step. Next up, it’s time to set up a remarketing audience based on visits to your brand awareness blog post.

First things first, you need to get your Facebook Pixel setup if you haven’t already. Head to the Events Manager and select the Pixels option.

Click to create your Pixel and give it a recognizable name for your site:

Next, install your Pixel code by selecting any of the listed options:

From there, simply follow the directions for each based on your choice to get your code installed.

Now, go back to the audience section and create a new custom audience based on website traffic:

Make sure that you select “People who visited specific web pages” as your criteria, and then enter the blog post you drive traffic to for your brand awareness ads:

If you want to get even more specific, narrow down the traffic by refining the frequency to two or more visits:

Still with me?

Next, hit save, and you’ve generated your second audience.

With this audience, you can bring back users and narrow your list down even further to the most brand-aware visitors.

Lastly, you’ll want to take that new custom audience and turn it into a lookalike audience.

That will allow Facebook to wrangle up more users for you to target who have similar interests and tendencies as your best performers in these campaigns.

Genius, right?

Head to the audiences section and create a new lookalike audience. Select the second remarketing audience you just saved as the “Source:”

Next, be sure to choose the 1% audience size to keep it targeted and dirt cheap (See: this study).

Hit save, and you’ve just created a self-sustaining top-of-the-funnel campaign to generate tons of brand awareness.

Phew. You made it.

Now it’s time to sit back and reap the rewards of a well-sown crop.

Conclusion

Yes. You should invest in AdWords.

But invest all you’ve got?

No. Probably not.

Not when you’re looking at ~four * $30k/month to start getting your first few customers. Not unless you’ve got a rich uncle hiding somewhere. Or a private equity firm cutting the checks.

Instead of following the typical playbook, flip the script. Invest in the stuff that’s going to make future sales easier and less expensive.

Invest in branding activities, that you have no way of tracking today, in pursuit of an easier tomorrow.

Brand awareness has the power to drive faster, funnel-skipping sales, at scale. And when done correctly, it can even be a cheap investment that will pay off dividends for years to come.

About the Author: Brad Smith is the founder of Codeless, a B2B content creation company. Frequent contributor to Kissmetrics, Unbounce, WordStream, AdEspresso, Search Engine Journal, Autopilot, and more.

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How to cite sources in content writing

How to cite sources in content writing

This is a guest article by Julia Morison. If you are interested in submitting a guest article of your own, be sure to read the guest article guidelines.

In the quest to making content look legitimate and reliable, we add quotations of experts. In the process, we often end up annoying them. Let me elaborate it further.

When we begin to write an article, we often look for relevant links, quotes, ideas and thoughts of renowned scholars and experts to add. However, what we do wrong is that we do not give them the credit; we simply mention their names at the end of the extracted quote. Such activities discourage many professionals to share their views online.

What you must do is, cite the complete reference along with the link to the site from where you have copied that particular piece of information.

To learn more about proper citation and referencing, check out the different scenarios I have mentioned below:

Citation scenario #1:

If you want to copy the quote, idea or thought of a person, do not go directly copy pasting it on your blog. Instead, mention the name, website link or links to social media sites as well. Try to make the act a mutually benefiting one rather throwing an impression that you were attempting to steal the content.

Moreover, it is against internet etiquettes too. When a person copy-paste a quote without proper referencing his document will be recognized as a plagiarized work, and it will lose credibility. Therefore, you should make your work authentic and trustworthy.

Citation scenario #2:

When you are composing a research-based document and wanted to add data extracted from surveys or polls, figures and facts from reputable sites, you must hyperlink the site as well.

Many writers simply mention the survey and add the information; this weakens the authenticity of their blog. If you truly want to uplift the credibility of your content, always mention the link of the site from where you have extracted the information. It will help your audience to navigate to that site for learning about the subject in detail.

Citation scenario #3:

It is simple to create references for information taken out from general articles or sites.

However, if you read about information on a subject from a website which was not the same as the source of the information, you have to add a link to the site from where you have extracted the information. A simple way to do this is by adding a ‘Via’ link to the website, in addition to a ‘Source’ link to the original source of the information.

Final words

It is imperative to cite sources to make your content trustworthy.

However, there are many formats involved in the citation, which are difficult to grasp and are time-consuming too. Every category has its own formats, whether it is to cite Twitter or articles on websites. You have to follow a distinctive set of rules for the different formats.

However, some professionals suggest writers use IEEE citation generator for creating references and citations. It is said to be one of the most efficient and highly productive tools for making fast citation, and when used properly, it can transform your document into a 100% plagiarism-free one.

Author Bio: Julia Morison is a head hunter and a research specialist at US-Based Writing Firm. She is a traveller, a blogger, a techie and a social activist. When she not in her office, she spends her time writing and educating the masses. Follow her on Twitter and LinkedIn.

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Why Inbound Marketing Fails (and How to Guard Against It)

Why Inbound Marketing Fails (and How to Guard Against It)

There’s no doubting the power of inbound marketing.

It’s safe to say that inbound has revolutionized the way marketing works in today’s world.

When it works, that is.

Because many times, it doesn’t. Or at least, it takes too long.

Crafting an inbound campaign requires audience targeting, multiple forms of content based on funnel stages, and perfect integration between marketing and sales. Which rarely happens in most companies.

And on top of that, inbound marketing tends to pull in a very specific type of buyer.

Hint: It ain’t the CEO of a Fortune 500.

Inbound is great for driving certain kinds of leads. But again, many of those are unqualified and can take months to convert.

And you can’t risk spending months or years producing content only to see a trickle of unqualified, small deals roll in your door.

Here’s why inbound marketing fails and how you can guard against it.

Why Inbound Marketing Often Brings in the Wrong Clients

Inbound marketing is like a box of chocolates. You never know…

Cheesy movie quotes aside, this one rings true.

You really don’t know what you’re gonna get when you start a new campaign. Especially when it comes to B2B clients.

Think of it this way:

What clients and client types do you want?

Most likely large corporations. The big-time players. The accounts that will take your business to six-figures overnight.

Now… what clients do you usually get through your blog?

Small businesses. Local shops. Cookie-cutter clients.

Sure, your box of chocolates might have one or two big-time clients. But you really don’t know and can’t always control the outcome.

So why does this happen?

It all comes down to the inbound “funnel.”

Look at the standard funnel stages, and which content/lead magnets are usually associated with them:

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Whitepapers, guides, webinars, and demos.

These are all great. They all work to one degree or another. And there’s no doubt about that.

But when it comes to bringing in top clients, the typical inbound playbook fails miserably.

The only people sitting on hour-long webinars and downloading whitepapers are lower-level employees or a small business’s workers looking to improve their day-to-day, tactical activities.

C-suite executives and decision makers for large corporations aren’t anywhere near this type of content. They’re too busy.

And topics like “XX conversion rate tactics to increase your growth by YY%” don’t appeal to them. Because they don’t do tactics. They hire people to do them.

This leads to a long list of unqualified leads. Ones who aren’t making a final decision to purchase. Or even have a budget worth discussing.

Don’t keep reaching into the chocolate box with your fingers crossed. Unless you have another plan or can supplement it to cover the flaws.

Here’s how to take matters into your own hands and prevent the vicious cycle of poor inbound leads.

How Account-Based Marketing Can Help You Land Better Clients

Scaleable marketing activities work at the top of the funnel. Or for companies with extremely low barriers to purchase (read: low-priced, transactional, or free).

But those very same tactics often fail when you move up the food chain.

They aren’t personalized enough. They’re not customized enough.

And that’s exactly what account-based marketing seeks to achieve.

It focuses on identifying and qualifying ideal prospects first, before trying to get them deep into your funnel.

Before you’ve wasted thousands of dollars A/B testing or sending email campaigns and remarketing ads.

Your typical inbound marketing strategy is like fishing with a net, dragging it across the web and collecting as many leads as possible.

Account-based marketing, on the other hand, is like fishing with spears. You’re carefully selecting a target.

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A great example comes from WP Engine and Terminus.

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Their entire funnel was focused on identifying prospects ahead of time, expanding that research, engaging with them, advocating, and finally measuring success.

Conducting all that account research ahead of time wasn’t cheap or easy. But they got engagement from 93% of accounts on their target list.

Open rates jumped from 27% to 43%.

Overall, they increased their sales opportunities by 28%.

And that’s not all. The WP Engine team targeted 87 accounts and closed 32 deals.

Instead of casting a wide net, they honed in on specific accounts that were desirable and compatible with their services.

Through detailed, one-on-one customization, they were able to land clients that otherwise were unreachable.

So, how do you put some account-based marketing tactics into practice? Here are a few ideas to get you started.

Conduct a Lead Search and Turn Them into an Audience

The first step in any proper account-based marketing game plan is to identify prospects first.

Creating a target list will allow you to get hyper-specific with your marketing messaging.

And we all know that personalization is critical.

Remember that ABM isn’t about marketing to 1,000 companies. Weed out prospects that aren’t going to convert.

Start by researching companies that could utilize your services and that match your target demographics.

You can do most of this directly on LinkedIn’s advanced lead search:

Once you’ve plugged in your data, you can start to add specific target accounts to your list.

Selecting these accounts will add them to your sales list, giving you constant updates.

Now that you’ve found accounts that fit your business goals, it’s time to do some deep digging.

Locate specific accounts and head to their profiles. Click “See all employees” to generate a list of employees at the company:

You can either scan for gatekeepers or use the keyword search to find them faster:

If you notice any shared connections, you have an even better shot at opening the door to a conversation.

And if you dig even deeper, you can often find the prospect’s email and social media accounts:

Start engaging with their content to get yourself out there. Sometimes, that’s all you need to start a conversation.

Take it a step further by researching these leads on tools like Socedo that allow you to target specific leads on social media:

Simply enter a few target keywords related to your products and services, and you’ll generate a huge list of leads.

Weed through the rest by narrowing your keywords down further.

Then simply repeat the same process of engagement and getting your foot in the door. You’ll quickly see which decision makers and buyers from which accounts are in-market.

Keep adding these accounts to a list or a Google Doc that you can keep track of.

The next step is to utilize LinkedIn’s Matched Audiences feature to target ads directly to your accounts.

These new audience formats are already proving to be extremely successful.

Advertisers see a 32% increase in post-click conversion rates with account-based targeting and a 37% increase in CTR for contact targeting.

To get started with these, fire up your LinkedIn Campaign Manager and head to the account assets section.

Click “Matched Audiences”:

Next, select the “Upload list audiences” tab and upload your own list of leads that you’ve collected through Socedo and LinkedIn:

You can upload lists of accounts or direct email contacts:

Be sure to format each with their own template listed in the upload process.

Now you can target high-quality ads their way, driving tons of brand awareness and getting a front row seat to their daily LinkedIn browsing.

Conferences Can Produce High ROIs

Most people think that conferences and conventions are a huge budget waster.

They cost thousands of dollars just to obtain a few tickets.

On top of that, you’ve gotta pay thousands in hotel and transportation costs.

It seems like an ROI nightmare.

Rand Fishkin from Moz estimates that a typical conference can cost anywhere between $4,630–$10,230. That could be your entire month’s marketing budget.

But what if that conference leads to you acquiring a new skill, discovering unique and groundbreaking ideas, or building relationships?

What if it nets you one of your best clients to date?

You could easily double, if not triple, your ROI.

Tons of high-level executives and business owners attend conferences every year. Rand himself has attended dozens over the years and believes they are an amazing investment.

Start by scouting conventions and conferences in your niche, specifically looking at the sponsoring companies of these conventions.

This will give you an idea of whether or not your target accounts are going to be attending.

For example, when you look at Salesforce’s Dreamforce conference page, you can see the exact companies sponsoring and attending:

Knowing that they’re willing to pay big money to sponsor the event and have their brand featured tells you two things:

  1. They have a large budget
  2. They are heavily invested in your niche

Those two elements are critical when it comes to driving a sale.

Conferences are a great place to engage in genuine conversation with current targets and even find new targets for your business.

Sure, it’s old school and “lame.” But if lame works, let’s all be lame together.

So, what’s next? What do you do after you’ve initiated a relationship?

Go Old School with Direct Mail

Initiating the relationship is the easy part.

The hard part is standing out amongst the dozen other people vying for the same client you are.

Thinking about sending a targeted email offer?

Think again.

Email alone isn’t enough to catch their attention (even if it has en emoji in the subject).

And CMOs don’t have time to read your email offer.

Remarketing? Forget it. They see thousands of ads a month.

The goal in this step isn’t to get them to convert.

They aren’t ready yet. Account-based marketing takes a long time, but it doesn’t produce subpar leads like inbound marketing does.

While both take time and money, ABM produces a consistent quality of leads with a higher response rate.

To get the attention of high-level executives and big companies, you need to reach them through uncommon mediums.

For example, direct mail.

One study found that direct mail had the third highest ROI of any marketing tactic.

Another found that direct mail open rates are 42%. That’s nearly double email open rates.

One Utah-based marketing company found massive success with a direct mail campaign to land high-ticket clients.

97th Floor in Utah sent out a direct mail piece to their top clients, encouraging them to give back to the community:

On the back of the piece, they gave each client $20 to use to give back during the holiday season:

They effectively connected their offline efforts with online goals.

On top of that, they connected it to a #20helps hashtag to generate more buzz on social media.

Direct mail is old school, but when combined with online landing pages, it’s massively effective.

Why? Direct mail alone isn’t enough. You have to connect it back to inbound and digital best practices.

According to a study, marketing campaigns that used direct mail in conjunction with digital landing pages experienced a 118% lift in response rates.

Meaning people are much more likely to go to your site if you connect direct mail to online activities.

Want to reach the leads you really need?

Think outside the box and flip the script:

Go old school with direct mail, and tie it back to modern times with a landing page.

Conclusion

Inbound marketing was a game changer when the concept came to life.

And it still is today.

But it’s nowhere near foolproof or all-encompassing.

Results can take months to come to fruition, and the leads you do generate aren’t the ones your business really needs.

High-level executives aren’t sitting on your webinars during their busy schedules.

Decision makers aren’t being swayed by what CTA button color you choose.

In the event that your inbound marketing strategy is failing, you need a backup plan.

Safeguarding by using account-based marketing is a great start.

It can help you reduce the “box of chocolates” effect that you find with typical inbound playbooks.

Seemingly old-school sales methods like direct mail can help you cultivate real, genuine relationships with big-time leads.

The biggest customers don’t sign up after a blog post.

They get referrals. They vet. And they build rapport through personalization before ever signing on the dotted line.

About the Author: Brad Smith is the founder of Codeless, a B2B content creation company. Frequent contributor to Kissmetrics, Unbounce, WordStream, AdEspresso, Search Engine Journal, Autopilot, and more.

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6 Engagement Marketing Metrics & How to Improve Them

6 Engagement Marketing Metrics & How to Improve Them

“Engagement.” It’s a term often dismissed as “fluffy” that lacks true value towards primary business goals.

But we live in a world where customers can engage with us in real time. And with this comes an expectation of delivering the best experience possible.

It’s not just about letting your customers feel heard. Engagement metrics, while often seen as “vanity metrics,” are important indicators of how well your marketing is performing.

In this article, I’ll share six engagement metrics you must measure throughout the funnel to ensure your marketing is working. I’ll also share actionable tactics on how to improve them and, as a result, your bottom line.

1. Content Reach

You put in the grind and work hours to create a superb piece of content. You know it will serve your audience, but…

Crickets.

While often considered a vanity metric, Reach is still a great indicator of your content’s performance. If you’re promoting visual media through social platforms or blog posts, Reach dictates how well it will perform.

A simple definition of Reach is: “the total number of people who see your content.” It’s a metric that indicates the unique users and readers who see the content you promote.

There are a few elements to consider when measuring Reach:

  1. Unique users: As explained above, this is the standard method of measuring the reach of your content. Typically, unique users are measured through a 30-day window (thanks to cookies.) Bear in mind that not all views are created equally: a visitor to a landing page for a lead magnet will be more valuable than blog post readership.
  2. Geo: Understanding where in the world people are consuming your content helps you allocate budget and resources effectively.
  3. Device: Are your users reading your content on a desktop or a mobile device? Understanding how people consume your content will help you optimize and format the design experience of your content.

Another metric to keep an eye on is social shares. Calculated as part of your Reach, shares can provide an indicator on how well your content is resonating with your audience.

How to Boost Content Reach

Thanks to algorithm updates, organic reach is now tougher than ever. Last month, we saw the biggest ever drop in Facebook organic reach to date.

So how do you combat this? The most obvious way is through paid promotion. Many brands are allocating budget to boost the reach of their content.

Sponsored posts on Twitter, Facebook, and LinkedIn, are more popular than ever. For example, Barry Feldman invested in sponsored Facebook posts to announce his new eBook. While this post only generated 100 organic views, his paid efforts reached over 2,400 users:

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Amplifying content using sponsored social posts and other paid media can be an effective way of extending reach, as well as generating a fresh stream of traffic. When it comes to earned media, influencer marketing is more popular than ever. In fact, 84% of marketers planned on running at least one influencer marketing campaign in 2017.

Consider starting by engaging with micro-influencers first. Unlike celebrities or public figures, they’re individuals who operate in specific verticals.

Their follower size is between 1,000 to 100,000 – which makes them more affordable and accessible than traditional influencers with an audience of 1M or over. They also tend to have a much higher rate of engagement.

Stitch Fix uses Instagram as a method of collaborating with micro-influencers. In the example below, they linked to a Q&A post with a fashion blogger to add value to their community while tapping into a wider audience:

Identify the micro-influencers relevant to your brand, and then engage with them via social media before reaching out. Alternatively, get connected with influencers quickly using a platform like Upfluence or Hype Factory.

2. Time on Page vs. Scroll Depth

When you create an awesome piece of content, you want people to read it. However, if it takes ten minutes to read and users are only spending two minutes on the page, this might indicate a deeper issue.

“Average time on page” is a Google Analytics metric that helps you understand how users are engaging with your content. Before we cover this metric, it’s important first to understand average session duration.

Calculate average session duration by dividing total duration of all sessions (in seconds) by the number of sessions:

Total session duration (secs) / Number of sessions

The session duration for an individual user varies by how a user engaged with the last page of a session. For example, if a page contains a video, the session duration is tracked until the moment they hit “play.” Otherwise, the time spent on the page does not count towards the total session duration. Analytics Edge puts it best:

“If you track things like file downloads with events, and if a visitor downloads a file at the end of the last page, then the session duration is calculated to the time of that event (note: This does not happen if the event is a non-interaction type).”

So, why is “average time on page” such a tricky metric to measure?

“Time on page” and “time on site” are measured between timestamps of hits. So, if a user bounces, no time is recorded.

Furthermore, time on page is recorded even when a window or tab is inactive. This means that time on page is an average of users who didn’t bounce from that page.

Many marketers prefer monitoring scroll depth to time on page. It can provide a more accurate engagement metric for content, as the further someone scrolls through content, the more engaged they’re likely to be.

The truth is, you should measure both. Scroll depth alone can be misleading, as many users scroll through a page before deciding whether or not to continue reading.

You can access on-page metrics on Google Analytics using the Chrome extension (In-Page Analytics was removed from the GA interface this year.) Another solution is CrazyEgg or Hotjar’s Scrollmap technology, which shows you where on your page users are most engaged.

How to boost Content Engagement

The more time people spend on your content, the higher the chance they are to convert.

Start treating your content as a marketing asset. Run regular A/B tests on pages with the large opportunities. You can find these opportunities by identifying pages that generate large amounts of traffic with low engagement. Head to Behavior > Site Content > All Pages on Google Analytics to access this data.

When Alex Turnbull wanted to improve engagement on the Groove blog, he ran an A/B test to see what effect storytelling would have on readership:

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The result? A 300% increase in people scrolling to the bottom of the page.

Look at your content and put yourself in your user’s shoes. Where are you failing to get their attention? At what stages might they get bored of your content?

Identify these potential points of friction, and then experiment with different headlines, introductions, and design layouts to improve engagement.

3. Social Comments & Conversation Rate

Reach is a great indicator of how many eyeballs view your content. Engagement with that content is often neglected and is arguably the most important aspect of social media marketing.

Therefore, comments should be regularly measured. Not only that but the overall sentiment of the conversation (i.e., positive or negative.)

Comment count is an exciting metric but can be meaningless without context. You must also measure the conversation rate. Calculate your conversation rate using this formula:

Total comments / Followers * 100 = Conversation rate

For example, a post that generates 30 comments may not seem like much to some. But for a Facebook page of only 250 likes, this number is significant. Using the formula above, the conversation rate for this post is 12%.

However, not all of your followers may see your post, and the above calculation doesn’t account for “non-followers” who see your content. With this in mind, another way of calculating conversation rate is against total reach:

Total comments / Reach * 100 = Conversation rate

With the above calculation, you’re measuring engagement against the number of users who actually see your post i.e. total impressions.

This metric helps answer the question: is this post interesting enough to initiate a discussion around?

How to Boost Conversation Rate

Using the question above, you can assume that the higher the conversation rate, the more your social content can be considered “interesting.”

Therefore, to increase engagement with your brand on social media, your content must be more interesting!

Ok, great. But “interesting” is subjective. What may be interesting to one audience may be boring to another.

To find out what content to create, look at the data. Look at your social media analytics over the last year and see where the spikes in engagement and reach occurred. Ask yourself:

  • What’s so interesting about this content?
  • Does the caption/headline hook in your users?
  • Is the image funny/inspiring?
  • Was the topic topical, or emotionally driven?

Use Unmetric’s free Discover tool to uncover popular content around specific topics. Search for relevant keywords/hashtags, select “Organic” under Post Type and then sort by “Most Comments:”

Using this approach, you can let the market tell you what it finds interesting. Use the data available to you and do more of what works.

4. Brand Name Search

Many marketers consider “branding” another fluffy term. It’s still important, and can often be the first step towards a sale.

The fastest way to measure your brand awareness is through brand query searches. To uncover this metric, head to Google Search Console and navigate to the Queries page and select the “Impressions” box:

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This page gives you an accurate estimate of how many people are searching for your brand name.

Other ways of measuring brand awareness include:

  • Social mentions: Search your brand name on Twitter and look at the total number of tweets in contains. Alternatively, use a tool like Mention to monitor social posts that mention your brand.
  • Inbound links: Using Webmaster Tools or Ahrefs can show you which pages link to your website.
  • Reviews: Sites like GetApp and Trustpilot can give you an idea of how people rate your brand’s products and services.

How to Boost Brand Awareness

The more content you produce, the more your brand awareness will grow over time.

Use retargeting ads to maintain top-of-mind awareness. Use Google’s display network and Facebook Ads to serve ads to those who have visited your website.

Retargeting ads can also help increase conversions using the Facebook pixel. For example, Expedia uses Facebook retargeting to capture users who viewed hotels without booking:

Content creation and PR also helps with brand building efforts. If your content is useful, entertaining or insightful, you’ll increase brand awareness over time.

5. Email Marketing Engagement

Email marketing is still one of the most effective marketing channels. When it comes to measuring engagement, there are:

  1. Open rate: One of the top metrics measured by all marketers. Put simply; this tells you the total number of people who open your email.
  2. Clickthrough rate: The percentage of recipients who click on one or more links on your email. Calculated by dividing total (or unique) clicks by the number of delivered emails and multiplying that by 100.
  3. Conversion rate: The percentage of email recipients who clicked and completed an action on the landing page.
  4. Forwarding/sharing rate: The percentage of recipients who forward your email or click a “share” call-to-action.

Conversion rate is especially important. This metric is the biggest indicator of email marketing success. The ultimate goal of your email is to make a sale or persuade leads to take the next step in the funnel.

Using a tool like Return Path can help give you further insights into how your recipients are engaging with your emails. It shows you which devices and browser’s users use, as well as insights on when and where they view your emails.

Furthermore, it allows you to segment emails by demographics, mobile use, and custom tags.

How to Boost Email Engagement

The best approach to improving your email marketing results is to optimize each stage of the journey.

Open rates, for example, can be optimized by testing subject lines and which days of the week to send them. It’s also worth segmenting the users who open them most frequently and analyzing their behavior.

Many factors will affect clickthrough rates. For example, if your opening sentence doesn’t hook readers in, they’re less likely to read the rest of the email.

But your main focus should be on conversion rate. Test the following elements to improve conversions and, ultimately, ROI:

  • Opening sentence: Hook the reader in and guide them towards the call-to-action
  • Calls-to-action: Experiment with different text/buttons, e.g., “Click here” vs. “Get your free guide now.”
  • Landing page: Ensure the copy of the landing page compliments the email copy. The journey should flow seamlessly.

The example below from Freshbooks used social proof to reduce anxiety when releasing a new integration. It featured a testimonial from a customer, including a headshot to add an extra layer of personalization:

It’s the same approach you would take when optimizing a landing page. Test every element, from subject lines (headlines) to call-to-action text and buttons. Remove any unnecessary elements to make your emails as clear and persuasive as possible.

6. Net Promoter Score

As marketers, we’re always striving to make our audience happier. Net promoter score (or NPS) allows us to measure how happy they truly are.

Developed by Fred Reichheld of Bain & Company, NPS is a measure of how likely a customer is to recommend your brand.

Customers are categorized into three different segments: Promoters (score of 9 to 10), Passives (score of 7 to 8) and Detractors (score of 0 to 6.)

NPS can be calculated simply the question “How likely would you be to recommend our product/service?” Use this question within your website, SaaS platform or in an email survey.

How to Boost NPS

To improve NPS is to improve customer satisfaction. It’s a score that indicates how well your entire business is doing. Your goal is to generate more promoters, while converting passives and detractors into promoters.

It all boils down to delivering a delightful experience from the very beginning of the marketing funnel all the way to your product and service delivery.

NPS shows your product and marketing teams what users love about your product and where their pain points are. Use customer development to uncover where these sticking points are for your detractors.

So, then, the question is: what do you do with your promoters?

Referral and ambassador programs can turn happy customers into an entirely new acquisition engine.

Lululemon is a great example of this in action. They empower their ambassadors to lead yoga classes all over the world, and get support directly from the brand in the form of guidelines and content:

The key is to make them feel a part of something. Give your promoters the tools to easily create user-generated content (UGC) around your brand and to spread your message.

Conclusion

While engagement is often associated with “vanity metrics,” they can still be a key indicator for success.

The fact is your audience is active on many different platforms at once. Not just your blog, platform or website. The question is how do you get them onto your own media and into your marketing funnel?

Nurturing your audience on the platforms they’re active is the best way to do this. Improve each touchpoint on every channel you communicate with your audience on. This is how you convert attention into traffic & leads.

How do you currently measure the conversation with your customers? What are you doing to keep them engaged?

About the Author: Juuso Lyytikkä is the Head of Growth at Funnel.io. Funnel is a marketing analytics tool for online marketers that collects data from ALL advertising platforms and allows marketers to send and visualize this data anywhere. Book a demo to get a free trial.

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How to Manage Marketing Campaigns like a Financial Currency Trader

How to Manage Marketing Campaigns like a Financial Currency Trader

KPIs are due EOD.

Profit and loss statements need to be generated.

Budget status updates have been requested.

Juggling multiple marketing campaigns is stressful. But more importantly, it’s also incredibly risky.

Soon enough, you’ve depleted your budget to the last few cents, and you have nothing to show for it.

Or worse, you didn’t spot the right trends in a successful tactic before spending too much on the underperforming ones.

And now you don’t have enough money to re-allocate to top-tier mediums.

Curiously enough, adopting the same methodical mindset of a financial currency trader can help you better manage results.

Here’s how.

Start With a Currency Arbitrage Mindset

Here’s the problem with digital marketing.

It changes every day. Old stuff gives way to new stuff.

And you never really know how a campaign will perform until you try it.

That saying (1) is unhelpful and (2) requires extra money to experiment with potentially budget-draining activities.

But it’s true.

You really don’t know which playbook, game plan, or actionable tip is going to work until you experiment. The stuff that worked last year almost certainly won’t work the same this year.

Not to mention that every business is structured differently. Each caters to diverse audiences. So copying your competitors or that awesome tactic you read about is also out.

What works for Company X might bankrupt Company Z.

If there were set-in-stone tactics that produced million-dollar businesses overnight, every dude on GrowthHackers.org would be rich.

PPC might be amazing for your friend’s business. But that doesn’t mean investing in PPC is instantly going to turn you into the next Zuckerberg.

So where do people turn when they hit this realization? A/B testing.

You all know those case studies that promise a mythical pot of gold at the end of a rainbow.

I did X and generated a 40000000000% increase in conversions!

Okay, maybe that’s a slight exaggeration, but it’s not that far off.

Most A/B tests fail, though.

They take too long to get results. Plus that whole “bias” thing. And of course, sample size.

You need a minimum of 1,000 conversions monthly for statistical significance.

So what should you do instead?

Implement a currency arbitrage mindset.

Currency arbitrage is a strategy in which the trader takes advantage of different spreads offered by brokers for a particular currency pair by making trades.

Different spreads imply a gap between the bid and ask prices. Meaning, they can buy and sell pairs to make more money.

What does this mean in English?

Place lots of small bets on different tactics, channels, platforms, and mediums so that you can evaluate their effectiveness in real-time.

Once you see specific trends developing (either positive or negative), you double down on the winners and cut your losses on the rest.

This way, you can test multiple experiments at once without the bias and lack of statistical significance that comes with A/B testing.

You get in and out fast. And you come out on the other side with specific campaigns to focus on rather than a mixed bag.

For example, you can’t always control the end result. But you can control the inputs that eventually get you there. And you can monitor, forecast, or predict where those will fall based on just a few days’ worth of performance.

Then, you can fine tune and adjust each ‘level’ accordingly to squeeze out the best results.

Adjusting Your Budget Based on Market Movement

The first banner advertisement ever appeared on HotWired in 1994.

Look at this gem:

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By today’s standards, it looks like a joke, right?

Is that tie-dye? Yes, yes it is.

But it gets worse:

See that subliminal “YOU WILL” message on the right???

Super subtle. Lord have mercy on us all.

But guess what?

This banner ad debuted with a click-through rate of 78%.

Yes, you read that right. Seventy. Eight. Percent.

If you told any marketer today that your banner ads are getting a 78% CTR, you’d get laughed out of the room.

Why? It’s inconceivable. It’s probably impossible in today’s world.

Today, the average display ad CTR is 0.05%.

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This all brings me back to one concept coined by Andrew Chen:

The law of shitty click-throughs:

All marketing strategies over time will result in shitty click-through rates.

As more and more people use these tactics, the market becomes saturated.

Users get sick of it, and they don’t click. Or they go banner blind.

You can see trends that follow this concept with almost any marketing activity.

Remember the good old days when Facebook organic reach was insane?

You paid nothing and reached thousands or millions of eager users.

Now, organic reach is almost nothing:

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As more and more marketers use the concepts put in place, it results in fewer and fewer results.

This is a perfect example of market movement and active management in currency trading.

You can’t hold certain trades forever and expect exponential performance.

Just because something is generating an insane ROI now, doesn’t mean you can ride it off into the sunset.

Markets are constantly shifting, just like marketing tactics.

What was hot one day (banner ads) isn’t now.

If you don’t adjust your strategy based on analytic research and forecasts, you risk declining performances associated with passive management.

Passive management is when you sit idly by and attempt to cruise to the finish line on your current strategy.

Active management relies on analytical performance data over time to spot trends and make informed decisions about what needs to change.

If you notice a decline in organic reach on Facebook, you probably shouldn’t be dumping your campaign dollars into it.

Unfortunately, us marketers (including me) fall into this trap more often than we’d like to admit.

You log in to Google AdWords or Analytics and see some great conversion data:

Your plans are working as you’d hoped.

But that doesn’t mean you can sit back and let the good times roll.

Sure, you can do that for a little bit. But over time, as markets, tactics, and consumers shift, you’ve gotta take an active role in managing campaigns.

Adjust based on trends.

A great way to do this is by analyzing specific topics on Google Trends:

Or even keeping up to date with the latest studies on popular marketing tactics by conducting a basic Google search:

Stay up-to-date with market movement and look at the underlying trends or patterns. Because when people are blogging about it, tweeting it, favoriting it, or liking it, it’s already too late.

Be Cautious in a Bull Market

When everything is running smoothly, it’s referred to as a bull market.

Investor confidence and financial optimism are at an all-time high.

On the surface, everything is running like a well-oiled machine.

Unemployment is low. The economy’s GDP is growing steadily. Stocks are rising.

And your marketing tactics are getting more traction.

But with all of this surface-based optimism comes serious potential side effects:

It now becomes difficult to predict potential shifts and trends or when tactics might change.

Facebook’s organic reach was booming just a few years ago. Until, of course, it didn’t.

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Now? Good luck. We’ve crapped out.

There is actually a pretty easy explanation for it. Simple supply vs. demand.

User growth is slowing while the number of content pieces has exploded exponentially. Too much supply, not enough demand.

Guess what’s going to repeat now on Instagram?

Right now it’s the place to be for your content. Just give it a minute.

And don’t get swept up by the bull market.

Find your own Big Short

Have you ever seen The Big Short?

If not, I highly recommend it. It’s a great movie.

Not just because it’s an incredible, intense account of the 2005 housing crisis.

Mainly because it features Steve Carell:

via GIPHY

Inspirational as always, Prison Mike.

In all seriousness, it’s a great movie that heavily relates to digital marketing.

The main concept of the movie was based on the true story of Michael Burry, a hedge fund manager who shorted the housing crisis of 2005.

He believed there was a housing bubble, leading him to short sell and bet against the banks who thought he was a chump, taking his deals like candy.

The idea of short selling is motivated by the belief that a security’s price will decline, enabling it to be bought back at a lower price point for maximum profit.

And people thought Michael (Burry, not Prison) was insane.

Who in their right mind bets against the housing market when prices are nearly doubling year after year?

But Burry noticed a few troubling trends. He saw that subprime home loans were in danger of defaulting. And many adjustable rate mortgages with balloon payments were all adjusting around the same time.

He decided to throw more than one billion dollars into credit default swaps.

It’s safe to say that the banks weren’t too happy in the end.

Here’s the moral of the story:

Very few people believed him. But Burry discovered the mystical unicorn that most marketers strive to find.

The main point as it relates to marketing campaigns is this:

You need to find your own big short.

Your own diamond in the rough that you can tap into before anyone else.

Your own display ad invention that generates a 78% CTR.

Finding the tactic that brings your conversions up by 10x.

Sounds wonderful. But you know it’s not easy. Because it hasn’t been blogged about or shared at conferences just yet.

But examples of it do already exist in the marketing world today.

For example, Brian Dean of Backlinko raised the link-building bar with his skyscraper technique.

He took a spin on a classic link-building tactic that increased his search traffic by 110% in just two weeks.

Image Source

On top of a massive increase in traffic, he generated countless backlinks from thousands of different referring domains:

referring domains from backlinko blog postImage Source

He effectively took his link-building strategy to the next level by going against the grain.

He didn’t sit back and ride the wave of guest blogging or other outdated, declining strategies.

He found his own big short.

While small marketing tactics like A/B testing and creating new ads or creative for your campaigns is a step in the right direction, it isn’t the end-all-be-all. Small bets don’t move the needle.

They merely help you figure out if you’re on the right track (or not). And help to show you when it’s time to go all-in.

Conclusion

Managing marketing campaigns is a stressful task.

Big, splashy, high-budget campaigns have high expectations. Bosses and clients expect big, lofty performance to go with it.

Money can get away from you fast if you aren’t careful.

Even worse, you can get so caught up in data that you miss the right trends.

Trends that tell you which aspects of your campaign are winning and which are losing.

Instead of flying blind or crossing your fingers, think like a financial currency trader.

Analyze the data with a currency arbitrage mindset. Keep up with market movement by taking an active management role in your campaigns. Be cautious in a bull market when everyone’s saying the same things.

And don’t be afraid to bet big when the time comes.

About the Author: Brad Smith is the founder of Codeless, a B2B content creation company. Frequent contributor to Kissmetrics, Unbounce, WordStream, AdEspresso, Search Engine Journal, Autopilot, and more.

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University of Richmond Goes Danish for International Education Week

University of Richmond Goes Danish for International Education Week

The week started out with a “Sock Walk” across campus, where participants wore brightly colored and patterned socks. The President of the University of Richmond, the Provost, Deputy Chief of Mission from the Danish Embassy in Washington D.C., Lars Bo Møller, administrators, students and Danes from the community joined in the walk, which ended with a Danish breakfast. There, three University of Richmond students currently studying at DIS Copenhagen joined the group by Skype and exchanged some of their favorite cultural reflections with the Danish students in Richmond.

Other events during the week included a presentation from Søren Bregenholt, Corporate Vice President of Novo Nordisk – who flew in just for this event – about “Happiness and Business in Denmark,” a Sus-Dane-ability Challenge, and a talk by the Danish Ambassador to the U.S., Lars Gert Lose. Malene Torp, DIS Executive Director, and Julie Scott, DIS Director for Institutional Relations, were present for this meeting with the Ambassador.

During the week, DIS faculty member Janis Granger collaborated with University of Richmond’s Professor Joanne Drell, a medieval historian, to lead a discussion on the Christian and pagan elements in “Beowulf” and “The Saga of the Volsungs.” At DIS, Janis teaches Nordic Noir, Scandinavian Crime Fiction, Hans Christian Andersen and the Danish Golden Age, and the Optional Study Tour course, Iceland: Vikings and Sagas.

The candle-lit walk was another highlight of the week, where stations displayed aspects of Danish culture. Janis hosted a Hans Christian Andersen booth while the five Danish students studying at the University of Richmond stood by the julestue they had created, complete with a Christmas tree decorated with Danish flags. There were stations celebrating hygge, music from Denmark, a display of the University of Richmond’s mascot in Lego, and more. Afterwards, there was a dinner of Danish cuisine at the campus cafeteria, including flæskesteg and rødkål, Danish hotdogs, and desserts such as æblekage and drømmekage, made from recipes supplied by the Danish students.

Janis reflected on the week, sharing,

“I was honored to be invited to celebrate this special Danish week. With my many years at DIS, I was on board to welcome the first University of Richmond students in 1998 and I actually remember a couple of them – by name. For a number of years, I also worked closely with the University of Richmond in helping Danish students study there.

At this late stage of my career, it was a privilege to be a part of this whirlwind week. As a Dane, who has chosen to be Danish, I reveled in the celebration of our partnership with University of Richmond and with a week of pure Danishness.”

See videos and photos of Let’s Go Danish Week

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What Happens When Your Startup is Acquired by a Big-Name Brand?

What Happens When Your Startup is Acquired by a Big-Name Brand?

Editor’s Note: Jeff Seibert spoke at Stanford University to discuss what he learned by building and selling startups. This post is a summarization of the talk.

It finally happened. Your promising little startup finally found its niche, got noticed, and got acquired by a big-name technology company. So what’s next? One need only look at Jeff Seibert, former senior product director at Twitter, to learn valuable lessons about how to proceed when your startup is acquired by a larger brand.

Jeff’s first company, Increo, was sold to Box in 2009. His second startup, Crashlytics, was sold to Twitter in 2013, and then, when he became the senior product director at Twitter, he got to see things from the other side of the table. What happens from the big brand’s perspective? How is the startup integrated as smoothly as possible? Jeff played a major role in several notable Twitter deals as well – Periscope being the largest of those. Here are just a few of the many lessons he learned.

Start by Building Tools to Help People

Increo was a company founded on the sharing of ideas and collaboration. The company’s first product Feedbackr, was build around the simple premise of uploading a document, and then getting feedback on those ideas and making changes to the file accordingly. Feedbackr was designed during Seibert’s senior year of college, and was launched in May – just a few weeks before graduation.

The product was featured on TechCrunch, where it enjoyed an initial spike of traffic, and then flat-lined. Seibert mistakenly thought that getting showcased on TechCrunch was their big break into the world of startups — but it was only the first step on what would become a long and ever-changing journey.

Throughout that summer, Seibert and his team continued to work on and refine the product – eventually paving the way for it to accept 100 different file formats — a feat that was fairly complex for the time. Since everything was in real-time, people could be drawing on the document while others left comments and notes. The product was immensely popular with freelancers, but never really broke the 20,000 user mark.

Back to the Drawing Board

The pressure was on to keep the company afloat. Despite over three dozen interviews around Silicon Valley to acquire funding, nothing was happening. Keep in mind that this was 2009, a time when investors were wary of spending a lot anyway because of the lessons learned from the first dot-com bubble burst.

The team went back to the drawing board to look at their core product. There were lots of companies out there that dealt in documents, but very few of them would let you display those documents in the browser, much less add markup and such to them. So the team theorized that instead of having a standalone product – they could partner with other companies to allow their document conversion to power their own platform.

Not a Partnership – An Acquisition

The companies that Seibert and his team approached had a few notable constraints. They wanted exclusive use of the technology and they had to be able to host it themselves, since using a third party would’ve opened them up to all kinds of legal snafus.

Jeff and his team stepped back — realizing this looked a lot less like partnership and more like an acquisition. Suddenly, offers were on the table. Pros and cons were quickly hashed out, and some really pertinent issues percolated to the top. Most importantly:

  • The technology had to be right – One of the companies Seibert was considering used Ruby on Rails to power their platform, whereas Feedbackr used Java. It would take over a year to rewrite the product.
  • The culture had to be a good fit – If the company culture isn’t quite right — for example, the business is older and set in their ways about how to do things, it may not work out to everyone’s benefit.
  • The roadmap for the future had to be clear – One of the companies was looking to build a presence in the Wiki space, whereas the team at Feedbackr really didn’t see the potential or the purpose.
  • The company had to have growth – A company that was fairly stagnated wouldn’t show much promise for the future of the product. They had to need the product as much as the product needed them.
  • The product had to be scalable – Where would the product be five years from now? Could it grow to accommodate demand?

All of these questions helped the Increo team rule out different offers before finally being acquired by Box. Not only was Feedbackr Seibert’s first experience with having a company acquired, but it was also Box’s first experience acquiring another startup.

Making Up for Lost Technology

One of the biggest lessons Seibert (and Box) learned from this acquisition was that even though the deal was small and simple, they couldn’t afford to rest on their laurels. Other companies, like Crocodoc, were leveraging new technology to make document conversions and previews even more user and technology-friendly. Not one to be left behind, Box purchased them as well.

If you’re the purchaser – the one place you don’t want to find yourself in is making up for lost technology — by concentrating too much on what you have, and not what else is out there, it gives your competition time to seize upon something newer and fresher — and being an afterthought is not what you want to be.

Ideas in Sync

Jeff’s second product was actually born out of a frustration with the complexity of syncing systems together. After some time working with document previewing technology, he began working on Box’s sync project to help users keep versions of files neatly synced up and updated. Working on systems to make this happen is highly complex, buggy and cumbersome. These kinds of clients crashed constantly — which in turn lead to the idea of Crashlytics.

In short, Crashlytics detected crashes and uploaded reports to the server. In the beginning, it was cryptic at best, but through further refinement, the process could be automated: detect when the crash happened, where it happened, and save it to the server. As you might imagine, developers and programmers loved the idea — the waiting list was long and people couldn’t stop talking about it.

Happy Tweets

One of Crashlytics big brand customers was Twitter. They became very attached to the technology and used it in their apps. So focused were they on how useful Crashlytics was that they continued to invite the team to come out to their headquarters and consider working for Twitter. Seibert and his team had no intention of leaving Crashlytics or even selling it to Twitter. They were 100% focused on their own goals and creating a product that people loved.

With a bit more prodding, a few of the Crashlytics team, including Jeff, met with Twitter executives. That’s when it became apparent that Twitter had a set vision for the future of mobile and software development kits — a vision that perfectly gelled with Crashlytics own vision. Here was this complete strategic alignment that meshed together so fully that it was impossible to deny.

Yet Crashlytics was still its own company. Twitter invested heavily in the company and helped them further build and refine their own product, while the Crashlytics team helped Twitter reinvent their brand and rework their focus on bringing in the very developers that helped make Twitter great.

So here you have one person with two very different acquisition perspectives — one of having their product become part of another brand that needed what they had created, and another where the result is less of an acquisition and more of a “melding of the minds” to create something bigger and better than either could have done alone.

What Big Companies Look For in Startups

Beyond the cultural and technology fit, as well as future plans, there’s the team. It may sound like a small and insignificant piece of the puzzle, as there are countless highly qualified individuals out there. But they must be willing to work within the established company’s culture and brand.

Can they build a solution that’s powerful, scalable, and elegant to solve a pressing need? Have they already built such a solution? And perhaps most importantly, can they, and the solution they’ve built, help win over this market? There’s a big focus on building a team that’s highly energized, highly intelligent and highly productive. The people are what makes the product, and the product is what solves the need. If some of these things aren’t in alignment or agreement, the deal doesn’t happen — which is more often than not.

That’s right. According to Seibert, almost all deals fail. This is just something you come to expect as you do it a few times. From the startup’s point of view, you can’t afford to be burnt out, tired or simply floating about day-to-day, unsure of where or how to best spend your energy. From the company’s point of view, they can’t afford to invest in something that’s just a hobby or an experiment. They need a long-term solution because they have strategies in place both today and well into the future. If both groups aren’t completely committed – things are not going to end well.

Striking the right balance is the bottom line. Making sure everyone is clear and amenable about the path forward is what’s going to make or break an acquisition. Sometimes it works out, sometimes it doesn’t — and there’s nothing wrong with that.

Have you been part of a startup that has been acquired, or were you the one involved in the acquisition? We’d love to hear your perspective on buying, selling or valuing a startup. Share your thoughts and comments with us below!

About the Authors: Sherice Jacob helps business owners improve website design and increase conversion rates through compelling copywriting, user-friendly design and smart analytics analysis. Learn more at iElectrify.com and download your free web copy tune-up and conversion checklist today!

 

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Students at Pratt Institute Hold Exhibition to Showcase DIS Summer Projects

Students at Pratt Institute Hold Exhibition to Showcase DIS Summer Projects

During summer 2017, 36 Pratt students attended DIS, spanning all disciplines — from furniture to graphic design, urban design, interior architecture, and architecture.

The event is held at the Juliana Curran Teria Design Center, Pratt Institute, and is organized and driven by students. Friends, professors, and fellow classmates come to the exhibition to admire studio projects made by Pratt students taking part in the Summer Session at DIS in Copenhagen. During the exhibition, students, Anna Kallen Talley (Graphic Design) and Alicia Tagliasacchi (Furniture Design), also received awards from DIS, highlighting their hard work and engagement in the studio work.

DIS Director of Architecture & Design, Furniture Design, and Graphic Design Programs, Henning Thomsen, was also in attendance. He applauded the event, saying, “Pratt Institute has a special place in our heart, dedicated students and great faculty that have supported our program in Copenhagen for decades. Seeing this student-driven exhibition is always a true joy.”

>> Read about Session 4: Architecture & Design at DIS Copenhagen here

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