"inbound" sales and marketing - fuel your startup's growth
TRANSCRIPT
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Inbound Sales & MarketingFuel Your Startup’s Growth
Sam Mallikarjunan
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@HubSpotSam @Mallikarjunan
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People‘s behaviors have changed. They‘re tuning out traditional marketing tactics.
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586%91%
44%200M
The old marketing playbook is
Skips TV ads
Unsubscribe to email
On the Do Not Call List
Of direct mail is never opened
BR O KEN
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StockbrokersSlightly ahead you have
You have car salesmenOn the low end
And Lawyers
And Lobbyists
6
In the middle, you have usSales & Marketing
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“We had another great month that doesn't happen without you. Thanks for building trust and credibility with our prospects before we engage with them - makes every conversation a pleasure rather than a fight :)” – email from a VP of Sales to his marketing team
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In order to attract customers,
marketers have to provide them with something
they love.
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DefinitionInbound Marketing Is a holistic, data-driven approach to marketing that attracts individuals to your brand and converts them into lasting customers.
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Cold CallingCold Emails (SPAM)
Interruptive AdsMarketer - Centric
TraditionalSEO
BloggingAttraction
Customer - Centric
InboundVS
What Makes Inbound Different?
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Can you out-help
your competitors?
(helping is hard!)
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Attract
BlogKeywords
Social Media
Convert
FormsCalls-to-actionLanding Pages
Close
EmailSignals
Workflows
Delight
EventsSocial Inbox
Smart Content
How does inbound marketing work?
Visitors Leads Customers PromotersStrangers
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“We don’t make money when we sell things. We make money when we help customers make purchase decisions.” – Jeff Bezos
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It wasn’t
Alwaysthis way.
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Technology adoption Lifecycle
Innovators Early Adopters Early Majority Late Majority
10%
40% 48%
1%
Laggards
1%
“The Chasm”Area under the curve represents number of customers
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historyWe live in the one of the most
of commerce.
interesting periods in the
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We live in an era of big bang disruptive innovation.
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Rogers Market segments
Innovators Early Adopters Early Majority Late Majority Laggards
Trial usersVastMajority
Big bangMarket segments
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20
new within the last decade
1000 are >70%
of businesses on the US Fortune
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Just Because Your CompanyHas survivedThe last 100
years
doesn’t mean it will survive the next ten.
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Mass extinction brings opportunities for new species to flourish.
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No one wants a ¼ inch drill bit.They want a ¼
inch hole.
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The company that bestsolves for the customer wins.
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“Okay, I’m excited enough -- so what
can I do about this?"
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Your extendable core is the job you do for customers that a competitor couldn’t replicate
without adopting the same cost-structure.
An Extendable Core Insulates You From Disruption
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“Inbound marketing is a business model innovation based on the fact that it’s more economically efficient to create an experience that attracts consumers than it is to interrupt someone else’s.”
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Inbound marketing creates an extendable core that insulates you from disruption.
… or helps you disrupt others.
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Inbound Marketing is hard.
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It’s not all sunshine and rainbows.
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(It’s pretty hard to justify, too.)$$
You can’t improve what you can’t measure.
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Marketing is half of the acquisition equation
“We spent $1000 and got 500 website visits”
CoCA: $400
CoLA: $40
CoVA: $25% Visit-to-lead
10% Lead-to-customer
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Measure everything.
57%Worked Percentage
0% 100%
33%
50%
Unworked eCommerce Leads
55%Average Last Attempt #
0
3
Average Attempts Per Hi/Med SAL
6
9
4.94 26%Sum of Probability Adjusted Recognized MMR in USD (Thousands)
0.00
12.60
Current Month Sales Forecast
16.80
25.20
6.64
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You're generating leads but is sales working them? Sales is creating opportunities, but how deeply are they working them?
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Someone can copy your exact business model and outgrow you just by measuring better.
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The Old Marketing Math Model
$ 6000
$ 50,000
$ 60,000
PPC
SEO Firm
Content
WritingExpense
Yearly Amount“I’m spending a bunch of
money on marketing, and I’m making more money than I’m spending back.”
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“I spend $W to acquire customer of persona X from source Y, and they spend an average of $Z with me over their lifetime.”
Customer Centric Economics Model
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Starbucks has an AOV of ~$6*
Using the AOV:COTA model, to get a 3:1 ratio a Starbucks marketer would spend ~$2 to acquire that $6 transaction.
$14,099Avarage LTV
How Much Would You Spend?
*
*Source: KissMetrics
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Inbound marketing is a business model innovation based on the fact that it’s more economically efficient to create an experience that attracts consumers than it is to interrupt someone else’s.
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A Business Model
A Better Business Model
COCA
COCA
COCA
CLTV
CLTV
CLTV
CLTV
CLTV
CLTV
$1 in, $2 out.
$2 in, $12 out.
A Scalable Business ModelCOCA CLTV
CLTV
$2 in, $4 out. Faster growth.
COCA
COCA
CLTV
Cost Of Customer Acquisition
CLTV
CLTV
CLTV
CLTV
CLTV
CLTV
CLTV
CLTV
CLTV
CLTV
Customer Life Time Value
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Customer centricity creates competitive leverage
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Time
Investment Period
PaybackPeriod
ProfitPeriod
Time to Payback
Self funding point Break even point
Disc
ount
ed ca
sh
Max Cash Consumed
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So easy, pretty, and simple to understand, ain’t it?
The Conventional LinearBuying Process
I'm just in the neighborhood and dropped in to browse
I urgently need to buy a black sweater.
Awareness Consideration Purchase
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46
It’s not an end-stateIt’s an infinite loop
Awareness
Interest
Desire
Action
Reinforcement
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How Real People Really Buy
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How Real People Really Buy
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How Real People Really Buy
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How Real People Really Buy
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The marketing activities and tools to this point add up to the Cost Of Customer Acquisition
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Now the focus shifts to increasing the customer’s Life Time Value
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How Real People Really Buy
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How Real People Really Buy
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How Real People Really Buy
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Everyone goes through this process
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Key Takeaway: Compete in the Research Phase
Yes. I downloaded their eBook.Yes. They helped me make a decision.Yes. I bought from them.
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And yes.She saidYes.
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This new age of marketing is the beginning of something truly remarkable, and your relationship with your customers will never be the same.
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Thank You!