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Buy-In, Budgets, & Best Practices. Chris Knipper, CEO, Founder INBOUND MARKETING

Inbound Marketing: Buy-In, Budgets and Best Practices

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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-quote

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Page 1: Inbound Marketing: Buy-In, Budgets and Best Practices

Buy-In, Budgets,

& Best Practices.

Chris Knipper, CEO, Founder

INBOUND MARKETING

Page 2: Inbound Marketing: Buy-In, Budgets and Best Practices

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

Page 3: Inbound Marketing: Buy-In, Budgets and Best Practices

The VEHICLE

Page 4: Inbound Marketing: Buy-In, Budgets and Best Practices

Buy-In WITHOUTSUPPORT

Page 5: Inbound Marketing: Buy-In, Budgets and Best Practices

What Inbound

Marketing IS NOT.

1 It is not a marketing campaign

Page 6: Inbound Marketing: Buy-In, Budgets and Best Practices

INBOUND FAILS AS TEST B2B EXAMPLEEmail Blast & Advertising

Page 7: Inbound Marketing: Buy-In, Budgets and Best Practices

INBOUND WINS B2B EXAMPLEConsistent Leads From All Sources – Organic, Referral, & Social

Page 8: Inbound Marketing: Buy-In, Budgets and Best Practices

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

Page 9: Inbound Marketing: Buy-In, Budgets and Best Practices

80% 20%

Buyer Process JOURNEY80% of B2B Purchase Cycles Happen Before Contacting Sales

Source – Forbes

Page 10: Inbound Marketing: Buy-In, Budgets and Best Practices

INBOUND MARKETING

80% Research20

%

Buyer Process JOURNEY

Sales

OUTBOUND MARKETING

80% Sales20

%Research

Page 11: Inbound Marketing: Buy-In, Budgets and Best Practices

INBOUND WINS B2B2C EXAMPLEAfter 3 Years, 1,000 -> 100,000 Visitors, Sales Up 300%

Page 12: Inbound Marketing: Buy-In, Budgets and Best Practices

1 It is not a marketing campaign

2 It is not social media mgt.

What Inbound

Marketing IS NOT.

Page 13: Inbound Marketing: Buy-In, Budgets and Best Practices

SOCIAL LEADS B2B2C EXAMPLE276 New Leads From Social in 5 Months

Page 14: Inbound Marketing: Buy-In, Budgets and Best Practices

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.

Page 15: Inbound Marketing: Buy-In, Budgets and Best Practices

CUTTING COSTS B2B EXAMPLEOvertime PPC Budget Transitioned to Inbound - Created More Leads

PPC Leads

Social, Direct & Organic Leads

Page 16: Inbound Marketing: Buy-In, Budgets and Best Practices

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

Page 17: Inbound Marketing: Buy-In, Budgets and Best Practices

Get Buy-In By Reporting

The

BENEFITS

Page 18: Inbound Marketing: Buy-In, Budgets and Best Practices

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

Page 19: Inbound Marketing: Buy-In, Budgets and Best Practices

BENEFITS.What do CEOs care about?

1 Customer Acquisition Costs

2 Marketing as a % of CAC

Source – Mike Volpe, CMO, HubSpot

Page 20: Inbound Marketing: Buy-In, Budgets and Best Practices

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

Page 21: Inbound Marketing: Buy-In, Budgets and Best Practices

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

Page 22: Inbound Marketing: Buy-In, Budgets and Best Practices

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

Page 23: Inbound Marketing: Buy-In, Budgets and Best Practices

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

Page 24: Inbound Marketing: Buy-In, Budgets and Best Practices

“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

Page 25: Inbound Marketing: Buy-In, Budgets and Best Practices

INBOUND MARKETING SCORECARD

Measuring Content Marketing KPIs

Page 26: Inbound Marketing: Buy-In, Budgets and Best Practices

• 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

Page 27: Inbound Marketing: Buy-In, Budgets and Best Practices

INBOUND MARKETING SCORECARD

Measuring Content Marketing KPIs

Page 28: Inbound Marketing: Buy-In, Budgets and Best Practices

BUY-IN -> BENEFITS.Summary

1 What to report to the CEO

2 Benchmarks for budgets

3 KPI to measure for success

Page 29: Inbound Marketing: Buy-In, Budgets and Best Practices

Buy-In WHO’S ON BOARD?

Page 30: Inbound Marketing: Buy-In, Budgets and Best Practices

The CREW

Page 31: Inbound Marketing: Buy-In, Budgets and Best Practices

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)

Page 32: Inbound Marketing: Buy-In, Budgets and Best Practices

Who Else Needs

• Product Managers

• Sales

• Legal

• Regulatory

TO BE INVOLVED?

Page 33: Inbound Marketing: Buy-In, Budgets and Best Practices

INBOUND EXAMPLE

Page 34: Inbound Marketing: Buy-In, Budgets and Best Practices

Calls-To-Action Facebook Microsite

Lead Generation EXAMPLE

Page 35: Inbound Marketing: Buy-In, Budgets and Best Practices

Marketing ANALYTICS

Page 36: Inbound Marketing: Buy-In, Budgets and Best Practices

Traffic: +42%

Leads: +508%

Lead GenerationEXAMPLE

Page 37: Inbound Marketing: Buy-In, Budgets and Best Practices

5 Days 5 Days 5 Days

Lead Nurturing (Drip) Campaign

Page 38: Inbound Marketing: Buy-In, Budgets and Best Practices

Traffic: +42%Leads: +508MQL: +283%SQL: +631%Demo Requests: 421+Customers: 55+Revenue: $400,000+

Lead NurturingEXAMPLE

Page 39: Inbound Marketing: Buy-In, Budgets and Best Practices

THANK [email protected]

Page 40: Inbound Marketing: Buy-In, Budgets and Best Practices

QUESTIONS?