inbound marketing: buy-in, budgets and best practices
DESCRIPTION
You may have heard of inbound marketing, but how can you use it to effectively market your products and drive revenue? This presentation will show you how to get other stakeholders in your company on board with inbound marketing, how it will impact your bottom line and how it has worked for others. Request a Consultation: http://enterpriseinbound.kunocreative.com/inbound-services-quoteTRANSCRIPT
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Buy-In, Budgets,
& Best Practices.
Chris Knipper, CEO, Founder
INBOUND MARKETING
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INBOUND MARKETINGThe process of creating quality content that is of interest to your target audience and then
publishing that content throughout many our your digital channels to pull your prospect, inward, to
you. You do this by educating them and solving their problems.
The DEFINITION
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The VEHICLE
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Buy-In WITHOUTSUPPORT
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What Inbound
Marketing IS NOT.
1 It is not a marketing campaign
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INBOUND FAILS AS TEST B2B EXAMPLEEmail Blast & Advertising
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INBOUND WINS B2B EXAMPLEConsistent Leads From All Sources – Organic, Referral, & Social
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Why Inbound Marketing Fails
as a “TEST” Campaign
Marketing Campaign
Product Centric
Sales & Promo’s
Short Term – Campaign
Bottom of Sales Funnel
Inbound Marketing
User Centric
Educate & Solve Problems
Not a Campaign – Ongoing
Top and Middle of Funnel
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80% 20%
Buyer Process JOURNEY80% of B2B Purchase Cycles Happen Before Contacting Sales
Source – Forbes
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INBOUND MARKETING
80% Research20
%
Buyer Process JOURNEY
Sales
OUTBOUND MARKETING
80% Sales20
%Research
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INBOUND WINS B2B2C EXAMPLEAfter 3 Years, 1,000 -> 100,000 Visitors, Sales Up 300%
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1 It is not a marketing campaign
2 It is not social media mgt.
What Inbound
Marketing IS NOT.
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SOCIAL LEADS B2B2C EXAMPLE276 New Leads From Social in 5 Months
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1 It is not a marketing campaign
2 It is not social media marketing
3 It is not a way to quickly cut costs
What Inbound
Marketing IS NOT.
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CUTTING COSTS B2B EXAMPLEOvertime PPC Budget Transitioned to Inbound - Created More Leads
PPC Leads
Social, Direct & Organic Leads
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GETTING BUY- IN W/SOCIAL
Leads &
Customers
Get Buy-In
Social
Also
Impacts
Organic
& Direct
Create More Leads & Customers To Get Buy-In, Don’t Sell Cost Cutting
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Get Buy-In By Reporting
The
BENEFITS
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BENEFITS.What do CEOs care about?
1 Customer Acquisition Costs
• All program and advertising spend
/ number of new customers
• Set a Goal for improvement
Source – Mike Volpe, CMO, HubSpot
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BENEFITS.What do CEOs care about?
1 Customer Acquisition Costs
2 Marketing as a % of CAC
Source – Mike Volpe, CMO, HubSpot
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MARKETING.As a Percentage of CAC
Long, complex sale 10-20%
Inside sales, less complex 20-50%
Short, simple sales 60-90%
Source – Mike Volpe, CMO, HubSpot
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BENEFITS.What do CEOs care about?
1 Customer Acquisition Costs
2 Marketing as a % of CAC
3 Ratio of life-time value to CAC
Source – Mike Volpe, CMO, HubSpot
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LIFE-TIME VALUE.To Customer Acquisition Costs
CAC = $100,000
LTV = $400,000
LTV:CAC = 4
>3 is usually good for a growing companyOr bad if under spending hurts growth
Source – Mike Volpe, CMO, HubSpot
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DIGITAL MARKETING.Average Budget = 2.5%
Revenue – Marketing Budget
< $5 Million - 7–8%$5–10 Million – 6–7%$10–100 Million – 5–6%$100–300 Million – 3–5%>$300 Million – 3–4%
Source – Gartner & SBA
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“Active digital marketers
tend to devote about 30
percent of their
marketing budgets to
paid media, and 50
percent to content.
Digital marketers can
spend significantly less
on marketing as a
percentage of sales”
– McKinsey & Company
• 30% - Paid Media.
• 50% - Content
Budgets Digital Marketers
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INBOUND MARKETING SCORECARD
Measuring Content Marketing KPIs
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• Output KPIsBlog posts, downloads, videos - Keeping track of
the quantity and regularity of what we publish.
• Interactive KPIsMeasuring how good our content really is, as
indicated by searches, views, likes, shares,
comments and links.
• Conversion KPIsSpecifically measure the
impact of your content
marketing on
lead generation
How & What Do We Measure?
Measuring Content Marketing KPIs
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INBOUND MARKETING SCORECARD
Measuring Content Marketing KPIs
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BUY-IN -> BENEFITS.Summary
1 What to report to the CEO
2 Benchmarks for budgets
3 KPI to measure for success
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Buy-In WHO’S ON BOARD?
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The CREW
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BEST PRACTICES BUILD A TEAM
LEADER(strategy & project management)
CONTENT(blogging, social media, design, seo)
SOCIAL MEDIA(engagement & advertising)
LEAD GEN(premium content, email, ppc, social ads)
MKTG AUTOMATION(campaigns, lead management, lead scoring)
SALES(ideally, integrated)
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Who Else Needs
• Product Managers
• Sales
• Legal
• Regulatory
TO BE INVOLVED?
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INBOUND EXAMPLE
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Calls-To-Action Facebook Microsite
Lead Generation EXAMPLE
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Marketing ANALYTICS
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Traffic: +42%
Leads: +508%
Lead GenerationEXAMPLE
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5 Days 5 Days 5 Days
Lead Nurturing (Drip) Campaign
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Traffic: +42%Leads: +508MQL: +283%SQL: +631%Demo Requests: 421+Customers: 55+Revenue: $400,000+
Lead NurturingEXAMPLE
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THANK [email protected]
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QUESTIONS?