Content Incrementality: Live Demo Lift
How do you know if your live demo produces more or better quality leads than you'd produce without it?
What does this report measure?
This report measures the incremental lift on conversions of a website interactive live demo:
- Website demo conversion rate
- Live demo lift analysis
- Live demo influenced opportunities
- Live demo influence on sales cycle, win rate, pipeline, and revenue
What insights can I surface with this dashboard?
Live demos have ballooned in popularity over the last few years thanks to companies like Demio, Navattic, and Walnut. But do they actually lead to more conversions? And if so, by how much?
This report will tell you definitively, with data, whether or not your website live demo hurts or helps conversions by comparing leads that use the live demo vs. leads that do not.
Live demo lift report
“Marketing influence” is a highly contentious topic in marketing. After all, not every marketing activity, ad, or piece of content a prospect engages with actually influences them. Much of it won’t.
So where do you draw the line? How do you prove actual marketing influence? The best way to prove marketing’s influence on outcomes is to analyze incremental lift: the lift in conversions (positive or negative) that are attributable to a specific marketing activity and that wouldn’t have occurred without it.
In HockeyStack, you can do this in two ways:
First, you can use lift analysis to estimate the increased likelihood of someone converting on a goal based on the marketing activity they engaged with. For example, how much more likely are newsletter subscribers to buy than non-subscribers? Lift analysis will tell you.
Second, you can compare conversion rates between people who took an action and those who didn’t. For example, do leads from channel partners turn into opportunities at a higher rate than non-partner leads? Comparing conversion rates will tell you.
Both methods use a different approach to reach a similar outcome: a strong signal of positive or negative lift attributable to a specific marketing activity. In this report, we use both methods to analyze the live demo’s true influence.
For example:
- Website demo conversion rates (CVR) by people who viewed demo vs. those who didn’t: in this example, people who viewed the live demo booked a demo twice as much.
- Sales cycle duration for those who viewed the demo vs. those who didn’t: not only does the live demo convert more leads, but those leads move through the sales cycle, on average, 12 days faster than those who don’t view the demo.
- Win rates of deals who viewed the live demo vs. those who didn’t: live demo viewers closed 15% more than those who didn't view the live demo. For every 100 deals, that’s 15 more new closed/won directly attributable to the live demo.
- Pipeline and revenue generated by those who viewed live demo vs. those who didn’t: those who viewed the live demo produced more than double the pipeline and revenue as those who didn’t.
- Lift analysis: and last, those who viewed the live demo were 3x more likely to convert into a lead and 7.3x more likely to convert into a closedwon deal than those who didn’t.
The conclusion? The live demo converts- very well.
For every 1,000 new website visitors, the live demo converts 50 more of them into deals than the website would have converted without it.
And not just any leads- live demo leads convert at a higher clip and move through the sales process faster. Not only does the live demo produce more, but it produces better. Win win.
If this were my brand, given the evidence, I’d make the live demo the focal point of our entire go-to-market strategy: place it above the fold on the homepage and on every product page, run targeted ads to it, test different versions of it, and experiment with a gated vs. ungated version.
Learn more about how HockeyStack helps marketing, revenue, and sales teams surface and action insights like the ones in this template by exploring the interactive demo or booking a virtual demo.
