Billy Bateman goes over three key conversational marketing metrics. He discusses what numbers you should be aiming for and simple techniques to improve them.
Host: Billy Bateman is the Co-Founder and VP of Operations for ChatFunnels, a digital conversation analytics, and optimization solutions provider. He has a background in digital marketing, business operations, and entrepreneurship.
Billy grew up in Idaho and graduated from Brigham Young University and has a Masters of Business Administration from Boise State University. While at BSU, he completed Boise State’s Venture College Entrepreneurship Program and became a mentor and entrepreneurial lead on a technology commercialization project. He is an avid outdoorsman and enjoys fishing and hunting.
The 3 Conversational Marketing Metrics:
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Billy: All right, everybody, this week I want to take a few minutes and talk about three metrics in conversational marketing that you should be looking at if you aren't already. The first one would be your visitor to activation. So that's gonna be a couple of things. First, how many visitors do we have on the Web site and then how many visitors activate the bot via button click.
And how many of you actively sending an invitation to whether that be a live chat or bot conversation while they're on their Web site? If you're not getting to at least 50 percent of your visitors with just an activation and invitation to engage, you're not giving enough people an opportunity to quickly engage with your team and find out if your products are the best fit for them.
The second one would be your conversation to email capture. Really, this is a measure of, are you offering enough value to people that they are giving you a way to reach back out to them. If you're not offering enough value, something's got to change. You need to get better offers. That's one thing you can do.
Another is, hey, whoever is manning live chat, are they doing a good enough job of building report, that the people actually want to give them their emails. We're doing a poor job with your live chat. You're not capturing emails out of there. Then you've got work to do.
Overall, if you've got a large deployment with a lot of visitors, you should be capturing emails out of 10 to 15 percent of all your conversations at least. If you're below that, you need some help and you need to start working on things. Ideally, you're getting up into the 40 and 50 percent of all your conversations result and in an email capture. If you're getting too far above 50 percent, you probably need to open up more opportunities for people to talk to you and have more of those conversations that probably aren't going to lead to an e-mail capture.
But you'll probably net more emails overall by giving you more opportunities to engage with the team. And the last one is your calendar drop to meetings booked. So if you're using bots to book meetings at all, you want to look at for people that get all the way to they've been qualified by the bot. They been presented as sales reps calendar and the opportunity to book a meeting. What percentage of those people are actually scheduling a meeting?
So it's a measure of two things. One, did you provide a good experience through the bot that they actually are going to follow through? And then it's once again a measure of what's the value for the offer they're making? And then the third thing is how available your reps. Because what we see is when reps don't have a lot of availability, quickly, your calendar dropped to meetings booked goes way down.
If people are like the soonest they can get a meeting is two, three, four days out. That number is going to plummet. If people get same day and next day meetings, you're going to get a very usually if your offer is good enough, you're going to be close to 50 percent on calendar dropped to meetings booked. If you're above 40 percent, you're doing all right. If you're below that number, you can start working on that in the first place to look is OK, what's the value of the offer that we're giving people and what are we making them commit to?
Maybe we need to change the meeting length from a 45 minute to a 30 minute or from the 30 to 15. If that's really all we need. And then how available are my reps? Look at their calendars, see if people are getting opportunities for those same day meetings, for the next day meetings if they aren't need to work on that and see maybe we need to add more reps.
Maybe we there's ways we can open up people's calendars, but those are the three metrics a lot of people don't look at, that we think are really key to measuring how effective is my conversational marketing and what are the levers that can pull to affect things by diving into these metrics.
So just to recap, one is visitor to activation. Two is conversations to email capture. And three would be that calendar dropped to meetings booked. Hope this helps. And just go out. Make it happen. If you need help. As always reach out to us @Chatfunnels. We're happy to talk and brainstorm with how we can get you to the next level with your conversational marketing.