Category: Marketing Automation

In this article, you’ll learn the essential definitions of email marketing automation building blocks and simple workflows to achieve your business goals.

Conversion rate is the proportion of website visitors or prospects who convert into paying customers or leads for a firm. It’s one of the most crucial metrics for businesses today, and you’ve likely been responsible with directing visitors through your conversion funnel. Every day, email, blog, and online advertising efforts get more competitive, heightening the significance of conversion rate. Every marketer is attempting to determine ways to improve it. How Is The Conversion Rate Determined? Let’s say you define conversion as individuals who purchase the black table from your website after getting on the site via a Facebook advertisement for the same product. If your Facebook ad drives 1,000 individuals to your website in one month, and 100 of them purchase a black chair, then: Your Facebook ad campaigns have a conversion rate of 100/1000, or 10%. Why is Conversion Rate Important? Conversion Rate is simply the percentage of site visitors who completed a targeted action on your website. Conversion Rate is a significant indicator since it indicates the proportion of website visitors that became customers or leads. It also helps you determine what the average is for: checkout time visit duration visit count Aspects Influencing Conversion Rate Marketing Channel Different marketing channels provide distinct functions. Consequently, have various conversion rates. LinkedIn, for instance, is built for B2B audiences, whereas Instagram is exclusively B2C. Due to the difference in ticket size, you may require multiple B2C clients to equal one B2B customer. On the same scale, however, a B2C platform would produce a higher conversion rate than a B2B platform. Purchase Intent As the term implies, buying intent indicates if a prospect is prepared to acquire your product or service. This can be accurately evaluated by considering a variety of parameters, such as the time spent on the landing page, the visitor’s gender, their decision-making status, the quality of their interaction with your adverts, etc. Price Point You cannot upsell to a low-priced customer, and a high-priced client will not purchase a low-cost product from you. This is the buyer’s mentality. Buyer Motivation Urgency has always been more productive than inspiration. Indeed, that is a fact! Your conversion rate is highly dependent on the urgency with which the prospect desires to purchase. If they fluctuate between being a warm and cold prospect, they will likely remain in your pipeline for an extended period of time. Your Explanation Conversion Rate is very dependent on how it is defined. Don’t scratch your head just yet! It is possible to establish any expectation as the conversion rate’s driving parameter, which shows that context is what determines the tone of a conversion rate. Buyer Anxiety We always prefer to acquire from trustworthy individuals or businesses. This is why review channels are so popular. In this uncertain world, people prefer assurance, which can be derived from market credibility. Your sales, and thus your conversion rate, depend on how hesitant your prospects are to purchase your items or services. The more the buyer’s concern, the lower the conversion. A Good UX Try to make your website as simple and user-friendly as feasible. A superior UX improves the clarity of the offer, which increases the conversion rate. And since we are discussing UI and UX, please keep in mind that the year is 2023. Making your website responsive is no longer a luxury but a must. submitted by /u/Web3osolutions [link] [comments]

Let’s face it; social media is a constant battle. In today’s social media landscape, what’s hot one day may be cold the next. This has made staying on top of ever-changing trends a challenge, even for the most experienced social media managers.  To challenge this, businesses must constantly tweak and update their social media strategies.…
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Last Updated on December 7, 2022 by Rakesh Gupta Big Idea or Enduring Question: Allow your users to select more than one record when using lookup Component. This blog is a sequel to my previous blog – What? Use Lookup Field into a Flow Screen Element?!!. In the previous blog, I
The post Select Multiple Records in the Lookup Component appeared first on Automation Champion.

I am looking for a tool that allows me to investigate if businesses in a city have websites, but this need to be automated and massively searches. Example, I write the name of the city in the searcher to show me on a map the businesses that have websites I hope someone can help me submitted by /u/Yord-Mar-2029 [link] [comments]

Hello everyone! This is my first ever product translate.video that I launched on product hunt! Using translate.video you can translate videos to 75+ languages with just 1-click! All the new users get 10mins of free video translation! If you are already part of the ProductHunt community, try out our product and share your feedback. Our team will be around all day to answer your questions and comments. Our ProductHunt page -https://www.producthunt.com/posts/translatevideo If you are not on ProductHunt check out this link and sign up Our Product – https://translate.video Looking forward to hearing from you all. Cheers! submitted by /u/Ok_Resident_6199 [link] [comments]

Every year, more than 30 Million tweets are scheduled through Buffer, making it the number one channel where Buffer users are scheduling their social media posts. As of today, we’re helping Buffer users take their planning to the next level — we’ve just released scheduling for Twitter threads so that anyone can easily schedule their Twitter threads with Buffer for free! You can now draft unlimited-length Twitter threads, preview how’ll they look, save them for later, and schedule them for the optimal time.Start scheduling Twitter ThreadsScheduling for Twitter threads has been a most-requested feature from Buffer users ever since threads became available on the platform — and rightfully so. Since the launch of the feature in 2017, Twitter threads have become an everyday way to use Twitter and share content.0:00/1×How to schedule Twitter Threads in BufferScheduling a thread is super simple, just follow these steps:Connect your Twitter account to BufferOpen up the Buffer composer and select your Twitter accountAdd some content and then select Start ThreadSave your thread as a draft or schedule it for the time of your choiceWatch the retweets and likes roll in!And if you need more, head to this link to see step-by-step how to schedule Twitter threads. Why you should schedule Twitter ThreadsNo one is happier about us adding thread scheduling to Buffer than our own social media manager, Mitra!Here’s a thread she recently scheduled to Buffer’s twitter account about Twitter’s latest features. I love it because it highlights a few of the things that Buffer can help you with when it comes to threads.Twitter offers many features that entrepreneurs and content creators alike can leverage for their businesses.Here’s a quick rundown of Twitter’s latest features:— Buffer (@buffer) December 6, 2022

1. Save threads for laterThis thread had been in the works for a little while. Mitra was able to start writing it a few weeks ago, save it as a draft, and come back to it later after she had done some more research.2. Quickly find and add images to your threadBuffer lets you import media from Google, OneDrive, Dropbox. You can also grab content straight from Canva or Giphy. 3. Add links to your threadThe call to action on this thread includes a link to a blog post.4. Use insights to schedule at the best timeMitra scheduled this thread to go out at the optimal time, based on the insights generated by Buffer’s data analysis.Start scheduling today!Twitter threads scheduling is available now on all Buffer plans, including the Free plan. Get started for freeFor more about how to create engaging threads, check out these resources: How to Write a Great Twitter ThreadCan Twitter Threads Increase Reach, Engagement, and Referral Traffic? An ExperimentHappy thread scheduling!

In the marketing industry, you’ve likely heard the term “market share” from time to time, but what does it mean? Why is it necessary, and how is it calculated?
As marketers, it’s important to understand market share so you know how your company ranks against competitors and can develop new marketing strategies to reach more potential customers. In this post, we’ll outline what market share is, how to calculate it, give real-life examples, and explain how you can increase yours.
What is market share?
Market Share Formula
Relative Market Share 
Relative Market Share Formula
Market Share Examples
How to Expand Your Market Share
Understand Your Market Share to Increase Business Success

Suppose consumers buy 100 T-shirts, and 70 are from Company A, 25 from Company B, and 5 from Company C. In that case, Company A owns a market share of 70% and is the leading industry competitor.
Market share is typically calculated for a specific period, like yearly or quarterly sales, and is sometimes separated by region.

Market Share Formula

Calculating your market share will give you an overall understanding of your position in the industry, but it’s also helpful to understand how you measure up to your direct competitors.

Relative Market Share
Relative market share compares your performance to industry leaders.
Rather than using total industry revenue, you’re dividing your market share by your top competitor’s market share, multiplying the result by 100. The result will show you the portion of the market you own in relation to your most significant competitor. The image below shows the relative market share formula.

Relative Market Share Formula

Market Share Examples
It may be easier to understand market share with real-life examples, so we’ll go over some below for businesses you may already be familiar with.
Nike Market Share
Nike is part of the athletic footwear and apparel industry, selling various sports equipment, casual shoes, and accessories.
Nike’s global market share in sportswear is estimated to be 43.7%. The brand is an industry competitor for Adidas and Under Armour.
Tesla Market Share
Tesla is part of the automotive industry and produces electric vehicles (EVs). Within the U.S. EV industry, Tesla holds an over 70% market share.
It’s essential to recognize that the market for EVs worldwide is significantly smaller than standard vehicles. EV’s market share in the automobile industry is 2.8%, and Tesla’s is .8%. These differences are significant, so it is vital to analyze relative market share to compare your business to your direct competitors rather than just the market as a whole.
Spotify
Spotify is a music-streaming platform and has the highest music-streaming market share with 31% of the market.
The second-highest market share belongs to Apple Music (15%), followed by Amazon Music (13), Tencent (13%), and YouTube (8%).
Amazon
E-commerce company Amazon has a U.S. e-commerce market share of 37.8% and is the leading online retailer in the country. Second place belongs to Walmart with 6.3%, and third place goes to Apple with 3.9%.
Target
Most recent statistics show Target is the largest department store retailer in the U.S. with a 38% market share. Walmart and Macy’s both rank second with 13%.
Chewy
Chew is an online pet product and food retailer with a market share of 40% in the U.S. The company plans to expand into the global market in 2024 and is expected to gain a 20% market share outside of the U.S. by 2030.
Google Market Share
Google has a market share of 92.37%, making it the most popular search engine in the world. It dominates the competition, as the second-largest industry leader is Bing with a market share of just 3.57%.
Once you’ve calculated your market share and understand how you relate to your industry competitors, you can begin strategizing how to increase your overall revenue.

How To Expand Your Market Share
Below are a few strategies your company can use to expand your market share.
1. Lower prices.
A great way to compete in your industry is to offer low prices. This is the low-hanging fruit of expanding your market share because consumers typically look for lower-cost products.
However, it’s also important to note that the cheap option isn’t right for every brand. You want to ensure that you’re pricing products appropriately to provide value to customers but not lose out on revenue opportunities to beat the competition.
2. Innovate new products and features.
Companies innovating and bringing new technology to the table often see their market share increase.
New products and features attract new customers, also known as acquisition, which is a driving factor for generating revenue. New customers make new purchases and, in turn, contribute to higher profit margins and larger contributions to overall industry revenue. More significant contributions directly translate to increased market share.
3. Delight your customers.
One of the best ways to grow your market share is to work on existing customer relationships.
You can inspire customer loyalty by delighting current customers by providing exceptional experiences and customer loyalty. Loyal customers are more likely to make repeat purchases, which increases your business revenue and contribution to total industry revenue. As mentioned above, higher revenue contributions equal a higher market share percentage.

4. Increase brand awareness.
Branding awareness and national marketing play a significant role in capturing market share. Getting your name out there is important, so customers know who you are. Becoming a household name and the preferred brand in an industry will help increase your market share.
Generally, larger companies have the highest market share because they can provide products and services more efficiently and effectively.
But why is this so important? Below, let’s figure out what impact market share can have on your company.

Market share is more important in industries that are based on discretionary income. Market share doesn’t always have a significant impact in constantly growing industries. However, it’s important to remember that a company can have too much market share — also known as a monopoly.
For example, with growing industries with a growing market share, companies can still increase their sales even if they lose market share.
On the other hand, with discretionary income industries, such as travel or non-essential goods like entertainment and leisure, the economy can significantly impact market share. Sales and margins can vary depending on the time of year, meaning that competition is always at an all-time high.
Higher competition often leads to risky strategies. For instance, companies might be willing to lose money temporarily to force competitors out of the industry and gain more market share. Once they have more market share, they can raise prices.

Understand Your Market Share to Increase Business Success
Lower market shares can let you know that you need to focus on customer acquisition, marketing to raise brand awareness, and overall strategies to increase revenue. Higher percentages indicate that your current plan is adequate and that you should focus on customer retention and product innovation.
Whether your company is well-established or just starting, it’s important to understand your industry standing as it will help you meet business objectives and achieve desired success.

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As a small business owner, ongoing tasks need your attention constantly. There are new strategies you want to develop; you must plan your content, research product ideas, and much more. Naturally, it is always a welcome bonus if a tool helps you take care of repetitive tasks, freeing up much-needed time for other projects.   That’s…
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