conversion

Are your auditions sucked into a black hole?

by Paul Strikwerda in Articles, Internet, Pay-to-Play 10 Comments

Houses for SaleJohn was a realtor.

The past couple of years had been the toughest ever.

Plenty of prospects; very few buyers. John had to work twice as hard and twice as long to woo aspiring home owners.

One day, his boss called him into the office and by the look on his face, he was not a happy camper. “John,” he said, “Do you have any idea how many leads you lost in the past three months?” “Well, maybe a few here and there,” said John. “I don’t really keep track.”

“What?” answered his boss angrily, “Are you telling me that you’ve spent hours researching homes and showing your clients house after house, and you have no clue how many sales opportunities you missed? Are you serious? How about the Taylors? They seemed ready to buy and they bailed out at the last moment. What went wrong?”

“Oh, I remember them” said John. “They backed out because they said the escrow fee was too high.” “That might be true” said his boss, “but do you want to know what really happened? After you had put in all your time and found them the perfect house, they walked out of our office and contacted the sellers directly. Two days later, the property was sold.”

JUST AN ANALOGY?

Of course I made this entire story up, and yet this scenario happens in voiceoverland each and every day. If you’ve taken a good look at your audition submissions of the past couple of months, doesn’t it seem like a majority has disappeared into a gigantic black hole?

As I mentioned in my first blog about this topic: most of my submissions didn’t result in an actual booking, not because the job was awarded to another talent, but because the voice-shopper never became a buyer. How did I know? Because months after the deadline for a project had past, still no talent had been selected for the job.

It turns out that I’m not alone. Many of you have vented your frustration and are demanding an explanation. That’s why I brought the matter up with three pay-to-play sites. I specifically asked them about their “conversion rate.” That’s the term marketing professionals use when a prospective consumer takes the intended action. I particularly wanted to know the percentage of voice-seekers who had become voice-buyers.

THE INDUSTRY RESPONDS

Mike Gomez works for www.voice123.com. His initial response was:

“We have around 4,000 active Premium subscribers on the site and these are the stats we keep regarding hirings:

50% – book at least 1 a month

30% – book between 1 & 5 a month

20% – book more than 5 a month”

That didn’t tell me anything about the percentage of job offers that actually lead to bookings. So, I tried again and Mike sent me the following reply:

“(…) those are the numbers we have, since we don’t control who gets hired, why and when but only seekers do, we currently have no accurate way to account for this.  Although we do know most jobs are granted on the site because we see talents are renewing constantly since our sales have been growing constantly through the months and the only way talents have money to renew is if they get work.”

Let’s do the math here. 4000 Premium subscribers times $299.00 (the voice123 annual subscription fee). That’s one million, one hundred ninety six thousand dollars. Yet, they have no “accurate way to account for who gets hired.”

There’s no doubt in my mind that voice123 has earned its spot in the market place. But the fact that people continue to renew their membership doesn’t tell me a whole lot about the effectiveness of the service voice123 provides. One does not measure the success of a temp agency by the number of job seekers in the database, but by the number of real jobs these people find through the agency.

WHAT VOPLANET ARE YOU FROM?

Donna Summers is the president of VoiceCasting and partner at www.voplanet.com. This is what she told me about her companies’ conversion rate:

“Because we deal with large production companies and ad agencies for the most part, virtually all the auditions we do are for actual jobs.  It is rare that an ad agency would take the time, effort and money it takes to put together an ad campaign, hire a copyrighter to write the script, get as far as voicing it and then completely dump it.

If one of our talents gets the job, we are of course, thrilled.  If the client books elsewhere, we do call and thank the client for the opportunity and ask who booked the job.  In answering your question, Paul, I would have to say that 100% with a little margin for error would be the number of auditions that actually become jobs.”

VERIFICATION

As a former journalist, I have to add that there is no independent way of verifying these statements, especially because both companies don’t seem to have a conversion monitoring mechanism in place. There actually is software to keep track of these things. QVC uses it and so does Amazon.com. In fact, most e-commerce site tracks their transactions at least on a daily basis.

So, how would you evaluate whether or not your investment in a particular pay-to-play site is worthwhile? Without a clear conversion rate, you can only base your decision on:

  • Previous personal experience
  • Anecdotal evidence
  • Testimonials & recommendations
  • The reputation of the company
  • Trust and gut feeling
  • The size of your wallet

 

SLICING THE BREAD

The Dutch philosopher Baruch Spinoza once said: “Life is like bread – no matter how thin you slice it, there are always two sides.

In my next installment, you can read the response of the www.voices.com team, as well as the revelations of an “Ad man.”

Paul Strikwerda ©nethervoice


Where Voice-Over Casting Sites Fail

by Paul Strikwerda in Articles, Internet, Pay-to-Play 9 Comments

 

Monkey

A rude awakening.

There is no other way to describe it.

This morning I decided to take a closer look at one of the voice-over websites I subscribe to, and I particularly looked at all the auditions I had submitted in the past couple of months. What I discovered didn’t exactly make my day. Here’s why.

In four months, I had submitted a total of 185 auditions. For about 80% of these job offers, the indicated deadline had passed. In other words: one might assume that the client would have hired a voice by now.

However, much to my surprise, I noticed that in only 10% of the above cases a talent had actually been selected. Mind you, not every selection ends in a booking. When I looked even deeper into the postings that never lead to anything, it got worse. I saw that at least half of those had over one hundred submissions!

THE BOTTOM LINE: a majority of auditions didn’t result in an actual booking, not because the job was awarded to another talent, but because the voice-shopper never became a buyer. In most cases, the client had plenty of talent to choose from. And with 100+ submissions per project, bidding must have been fierce. What’s going on here?

At least four things came to mind:

  1. Is this an overall trend or is it unique to my situation?
  2. These missed opportunities mean a huge loss in revenue for the site in question, as well as for the subscribers who pay to play, and not to be thrown away.
  3. There’s tremendous untapped potential! Why are some sites barely scratching the surface of a goldmine?
  4. What can be done to turn browsers into buyers?

BATTING AVERAGE

To take up the last question first, this refers to what marketing guru’s call the “conversion rate.”  Consumer behavior expert Paco Underhill is the author of “Why We Buy: The Science of Shopping.” He writes:

“Conversion rate measures what you make of what you have- it shows how well (or how poorly) the entire enterprise is functioning where it counts most: in the store. Conversion rate is to retail what batting average is to baseball -without knowing it, you can say that somebody had a hundred hits last season, but you don’t know whether he had three hundred at-bats, or a thousand. Without conversion rate, you don’t know if you’re Mickey Mantle or Mickey Mouse.

One could also describe conversion rate is as “the percentage of visitors who take the action you wish for.” In the case of this blog, I hope my readers will leave a comment, become a subscriber and visit the rest of my website. Of course I also hope you find my writings entertaining and that you take away something useful. But what I’m ultimately aiming for is “engagement.” Remember that. I’ll get back to it later.

JUST LOOKING

It’s obvious that the conversion rate of the voice-over website I mentioned in the intro left a lot to be desired for. Yet, it’s nothing new for an internet-based business. Here’s the deal. This “just looking” behavior is ubiquitous online. That’s inherent to the medium. It gets worse, though. Some studies suggest that over half of all online shoppers abandon their carts part way through the check out process. Why is that?

The beginning of an answer to that question lies in the “interception rate,” the percentage of customers who have some contact with an employee. Paco Underhill:

“The more shopper-employee contacts that take place, the greater the average sale. Talking with an employee has a way of drawing a customer in closer. With no sales assistance it could be the difference between a conversion rate of 22 percent and a conversion rate that’s 50 to 60%.”

So, let me ask you this: when’s the last time you went on an online shopping spree, and had any type of interaction with an employee?

Where’s the engagement? Where’s the relationship? Where’s the interception?

Now, let’s go one step further and bring this closer to home. If you are a voice-over actor with a personal website or a blog, do you know your conversion rate? If not, wouldn’t you want to know? Do you even know how to measure your visitor’s response? I could care less about the number of hits you get on an average day, or your ranking on Bing. Bing doesn’t pay your bills. Don’t get me wrong: getting people in the door is a promising start. Keeping them inside is even better. Getting them to take action is the ultimate goal.

Here’s the 64 thousand dollar question: How do you do that? If customer-interception plays such a big part in increasing your sales, is such a thing even realistic in an anonymous, impersonal virtual world? How could you possibly turn browsers into buyers? Be sure to check out my next installment!

Paul Strikwerda ©nethervoice