Patent Grant
8155995
The present invention relates to systems and methods for assessing the effectiveness of an Internet marketing campaign, and to a method of offering data gathered thereby to subscribers.
The system and method of the present invention are directed to assessing an effectiveness of Internet marketing campaigns, and to providing data gathered thereby to subscribers.
The assessment data can be gathered in concert with, for example, private sector partners. Different marketing methods are tested, compared, and evaluated for effectiveness in reaching customers. Equations are provided for calculating such values as probability of conversion of a sale and of a success of a marketing campaign, based upon such factors as user anxiety and external motivation.
The data can be used to improve a marketing campaign, and also to inform a subscriber base of techniques found to be effective in Internet sales.
The features that characterize the invention, both as to organization and method of operation, together with further objects and advantages thereof, will be better understood from the following description used in conjunction with the accompanying drawing. It is to be expressly understood that the drawing is for the purpose of illustration and description and is not intended as a definition of the limits of the invention. These and other objects attained, and advantages offered, by the present invention will become more fully apparent as the description that now follows is read in conjunction with the accompanying drawing.
A description of the preferred embodiments of the present invention will now be presented with reference to
In
C=c1M+c2V+c3(i−f)−c4(a)
where C is the probability that a user will convert to a sale or lead through a given sales or marketing funnel; M is the external motivation of a consumer; V is the clarity and strength of a value proposition; i is the incentive to continue through an order process; f is the friction element that may prevent someone from continuing through an order process; a is the anxiety of a user; and c1, c2, c3, and c4 are coefficients.
The present invention includes the formulation of equations that can be used to predicting success in a campaign. For example, a probability that a viral campaign will succeed can be formulated as;
Vr=5C(F, P, S, . . . )+M−f
where Vr is a viral ratio; C is contagion; M is the underlying message; f is the friction (mechanism); F is a fun factor; P is a pride factor; and S is a sentimentality factor.
A probability that a business will succeed can be formulated as:
S=2v+o+t−r
where S is the probability of success; v is the strength and clarity of a value proposition, which equals the natural appeal minus the competitive threat; o is the opportunity for an increase in conversion; t is the amount of untapped cost-effective traffic; and r is a variable.
A product marketing methodology can be formulated as:
Opr>Oprn>Ochn
where Opr is product optimization; Oprn is presentation optimization; and Ochn is channel optimization.
A probability that a direct mail campaign will succeed can be formulated as:
D=A+V+M+R
where D is a probability of conversion; A is the consumer's attention; V is the force of the value proposition; M is the motivation to take action; and R is the effectiveness of the response funnel.
A micro testing index (M) calculation can be performed as:
M=3i+Pm+Chn+2(A/R)
where A/R is the testing return on investment, where A is the ability to test, and R represents the resources required to run the test; M is the probability that the test will yield profits; i is the strength of the idea being tested; Pm is the level of optimization of the presentation of the product; and Chn is the ability to drive cost-effective product.
An opportunity assessment can be formulated as:
S=2v+o+t−r
where v is a force equal to the natural appeal minus the competitive threat; o is the presentation opportunity assessment; and t is the channel opportunity assessment. The natural appeal is initially measured through a reverse search study. For partnerships, one can examine two key components: value proposition and existing channels.
A conversion index calculation can be formulated as:
C=4m+3v+l−(f+2a)
where C is the probability of conversion; m is the motivation of the user; v is the clarity of the value proposition; i is the incentive to continue; f is the friction; and a is the user anxiety.
Sub-path test elements can be delineated as follows: incentive (bonuses, discounts, and contests), friction (field number, field complexity, field layout, and button design), and anxiety relief (credibility indicators: testimonials, third-party certification, explanatory copy, and contact information).
Click-through rate (CTR) can be calculated as:
CTR=int+sn+inc
where int is the interest (curiosity, suspense), sn is the specific need (to complete a process), and inc is the incentive to click.
Testing priority can be formulated as:
Q=[2(ip)/(it)]−r
where Q is the testing sequence, ip is the potential impact, it is the time to impact, and r represents development resources.
In an exemplary marketing test, it was attempted to optimize a landing page. A first objective was to determine whether a small number of specific changes to an offer page would improve overall conversion for a company selling hypnosis products. Multiple variables were tested using the system and method of the present invention using a single factorial “A/B split testing” test design.
The optimized page included improved credibility factors, including a photograph, credentials, and signatures. Greater visibility was given to testimonials, and money-back guarantee was included. An overall improvement rate of 40.7% was observed. Additional improvement (39.0%) was made by removing the photograph from the landing page. Thus it can be seen that the system and method of the present invention can provide data valuable in improving sales for Internet marketing.
In a method of doing business using the present invention, a subscription can be offered to companies, which provides data gleaned from marketing experiments such as outlined above. Subscribers are also offered the opportunity to participate in web clinics on marketing techniques. Further, research partners can be joined with to conduct tests for their particular products/services.
In the foregoing description, certain terms have been used for brevity, clarity, and understanding, but no unnecessary limitations are to be implied therefrom beyond the requirements of the prior art, because such words are used for description purposes herein and are intended to be broadly construed. Moreover, the embodiments of the apparatus illustrated and described herein are by way of example, and the scope of the invention is not limited to the exact details of construction.
Having now described the invention, the construction, the operation and use of preferred embodiments thereof, and the advantageous new and useful results obtained thereby, the new and useful constructions, and reasonable mechanical equivalents thereof obvious to those skilled in the art, are set forth in the appended claims.
This application claims priority to provisional application Ser. No. 60/883,230, filed on Jan. 3, 2007.
| Number | Name | Date | Kind |
|---|---|---|---|
| 7856360 | Kramer et al. | Dec 2010 | B2 |
| 7890612 | Todd et al. | Feb 2011 | B2 |
| Number | Date | Country | |
|---|---|---|---|
| 60883230 | Jan 2007 | US |
