- August 24, 2016
- Posted by: admin
- Category: Articles
As every busy workweek grinds to halt, marketers are left to face the Friday challenge. Every veteran marketer will tell how driving conversions on Fridays can be like watching grass grow.
Here’s why: Week after week marketers are churning marathon content to woo target recipients in exchange for personal information. At a quick glance, it may seem unchallenging and premeditated. But, scheduling the content is vital to set in motion an unceasing lead generation.
Weekends aren’t ideal to generate sizable traffic by harnessing the potential of content marketing.
You can create a mind-blowing content and serve those who express interest in exchange for information. Unlike a busy week process where a sales representative follows up soliciting the prospects if they are in need of the featured solution, the process slightly varies in the weekend.
Due to the immediate unavailability of neither the sales representatives nor the leads in the weekend, it is challenging to sustain a priority on negotiation until the weekend passes while the leads may become impatient the longer it takes to solve their needs.
Performance On Weekdays and Weekends
Most marketers will promptly vouch that the leads generated on weekdays bear higher weightage over leads acquired on weekends. Since marketers measure the quality of leads by assessing their transition while moving down the sales funnel, it is reckoned that a great degree of flexibility such as bid modification may become a necessity to close the sales.
Could A Particular Day Of The Week Yield Better Results?
The next obvious question would be “what other days of the week are favorable than the weekend?”
Here are some findings:
We counted the number of opportunities from 3/1/16 to 5/31/16, and our data suggests that the entire workweek is mostly productive and gradually declines on Friday. However, the onset of Weekend drastically limited the opportunity to a fraction of the other days of the week.
These figures may be impressive. But, they may not be of potential worth to change the dynamics of your content distribution on Friday. Eventually, companies just care about efficiency. If you can target just 5 % and if they carry the potent to account for 15% of the overall opportunities, then why treat the Friday leads with lesser significance? It could make sense to focus on Friday opportunities.
To make a precise evaluation of marketing performance of a particular day of the week, it is essential to feel the pulse at the integrating point where leads and opportunity intersect.
Suppose an opportunity rings on Thursday and the customer representative makes correspondence on Monday, the date when the representative corresponds is viewed as the day of the week leading to conversion.
The lead to opportunity rate of conversion exclusive to a day of the week is interdependent. Since the regular opportunity is harder to come by on weekends, a marketer needs to triple his or her efforts to churn leads to equating opportunities.
Here is a simple breakdown of facts using an example: If one opportunity is equal to 10% conversion rate, then to get 33% conversion, it is necessary to generate three leads. This data may represent the lead generation on an average workweek. But, to produce similar results on Sunday, you will need 50% additional leads.
Hence, it seems practical to refrain from paid media efforts on weekends to make prospecting efficient.
Are Fridays Better Than Other Days?
On an average workweek, it is possible to generate anywhere between 34% to 37% conversions. Fridays yield an average of 31% conversions. Although it isn’t comparable to the leads generated from Monday to Thursday, it isn’t substandard either.
Since the difference is marginal, it is not necessary to attempt calibrating the efforts to retain the running consistency.
Then, why are Friday leads faring on par with other days of the week?
Perhaps, it could be that when users download the content, they don’t bother checking them until Monday. Or maybe the leads come early during the day giving sales representatives time window to follow up.
Sometimes, if in the longer sales funnel, it is standard for the closure of sales to take place later from the weekend.
It is easy to make countless speculation why Friday sales could fare better than other days of the week. However, an only intense analysis would shore up results that accurately suggest why Friday could help you multiply conversion.
Analysis Of Your Statistics
The data represented here is based on the analysis by our experts. Your sales data could mean a different outcome which depends on changing factors because most sales process do not synchronize with one another, and a thorough investigation alone can explain the upshot.
It is possible to save marketing expenses by deciphering the various aspects of the day within a workweek leading to conversion. Attribution data plays a deeper role in allocating marketing budget, constructively demonstrating the peak points where utilization of paid media can help marketers mint profit.