I was reviewing next steps with a client around their digital marketing plans – specifically content marketing and SEO. I was telling the client that we needed to beef up content that would help drive organic search traffic.
A salesperson in the room responded that the conversion from SEO traffic was very low and would drag down overall conversion rates, and even if we did convert them, there weren’t good customers.
Here was my response:
1. Organic search traffic is a relatively cheap source of prospect leads. The majority of the leads today come from networking and referrals. So the volume is low and conversions high as those are high touch sales channels. SEO on the other hand is high volume and low touch, which is a completely different way of thinking.
If the high touch sales funnel today takes in 10 leads and converts 1, that’s a 10% conversion rate. And that customer generates $100 profit.
From SEO, your leads are 1000 and you convert 5. That’s a .5% conversion rate. SUCKS! And each customer only generates $50 profit. But as a channel, it drives $250 in profit.
Which would you rather have? This is a very simplistic example, but don’t discount it without seeing the full picture.
2. Networking and Referrals bring in the exact same “type” of leads. They’re friends and all from the same small circles. This leads to a niche product. This is where the real opportunity lies. SEO will bring in a different type of customer. So create a different product that will convert them into better customers.
If you’re just starting on content marketing, keep this in mind – no matter how much you focus on a specific customer, you will bring in visitors that are different. It is your job to determine if those different visitors are good or not.
I see it as an opportunity to learn and see if your product can serve an entirely new audience and revenue stream, one that is currently untapped by you.