The ROI of Site Search
The calculation of ROI (Return on Investment) is a critical step of the business decision making process. It can also be the most intimidating step. Even those who sat through Finance 101 and understand the concepts of ROI calculation may not fully understand how to do it in practice. Fortunately, we’ve had a lot of experience in using this tool, especially in calculating the ROI of site search improvements.
B2B Sales is changing
According to Forrester, the percentage of B2B buyers who prefer to do research online increased from 53% in 2015 to 68% in 2017. But it’s not just pre-sales research. Accenture’s research indicates that when you look at the end-to-end buying process, 94% of buyers do online research. The digital shift has completely transformed B2C buying behaviors, and while B2B has been more resistant to the shift, those changes are coming.
To take advantage of this trend, successful digital sales leaders will recalibrate where resources and management attention is focused. Sales Reps will continue to be a key part of the B2B sales process, especially during the final phases of high consideration purchases. But online capabilities, especially during the research phase, needs a better seat at your sales table.
Many companies have a measurement problem when it comes to understanding the effectiveness of site search. But that measurement problem often stems from the failure to ask the right question. The question shouldn’t be about customer behavior. The question should be about the customer experience. At SoloSegment we believe that the only customer experience that matters when you’re talking about site search is the success rate. Did the customer find the right content to answer their question on the first click? Unless you start with that point of view, you’re doing it wrong.
The biggest roadblock to fixing your site search is recognizing that you have a problem. Many business owners will brush site search off as unimportant, and even when they know their site search is broken, they will put it off and tell themselves they’ll “fix it soon.” It’s common for our prospects to be skeptical on the real value of improving site search, but the facts are clear.
Site searchers tend to show up at your website with a certain purpose in mind. They have a need and believe that you have the solution. This should be great news, because you have all this great content and if they get to see your product, it is likely they’ll buy it. But our experience shows that many site searchers don’t actually get to the point of seeing your content. They use your site search and are frustrated by the poor quality of results. You’re frustrated too, because you don’t know why this happens. Finding out why searchers are frustrated and creating a plan to prevent it can significantly improve your site search conversions and lead to sales.
As digital professionals, we’re tasked with understanding and managing the behavior of customers and sales prospects across our digital properties. Really knowing what’s going on can be a challenge. Nowhere is that more true than site search. Most companies have a lot of of stranded customer value on their site search pages. Customer journeys are abandoned due to poor search results and poor user experiences. Acquiring the tools and building the expertise to deliver an excellent site search customer experience allows you to unlock that value.