Fundamentals of achieving better marketing ROI

Fundamentals of Achieving Better Marketing ROI

Cloudfest 2015

The Role of Marketing?

Build Marketing Process Around the 4 Pillars

Get their attention

Once you know what appeals to your target audience, you can attract them with compelling and contextual content.

Use calls to action (CTAs)The best conversion methods are unique and informative; if the offer isn’t attractive enough you won’t convert the visitor to a lead.

Nurture to drive business down the funnelIt typically takes from 7 and 13 touches to convert a lead to a sale.

Reaffirm and reassure your clients, and …

Marketing shouldn’t end onceyou have made the sale. You now need to nurture the customer; reassure them they made the right decision.

Adhere to the 4 Ps of Marketing

Product(Service) Price Promotion Place

What are the business benefits, features, and limitations of your services?

What are some of the determining factors of price; hours, value?

What are some popular avenues (or channels) for promoting your knowledge?

Your stomping grounds. What area are you going to dominate?

What stage is your business rocket in?

Start Up Growth Building Value Next Stage? …

Marketing Needs

• Define value, services, products• Learn ideal customer pain• Identify market opportunity• Create awareness• Generate first revenues

Start Up

$300k

Growth

Marketing Needs


• Define costs of services• Learn to sell • Discover your identity• Generate repeatable sales • Sell new and keep existing

Start Up

$300k

$800k

Building Value

Growth

Marketing Needs



• Increase margin and cash• Build a culture• Optimize production • Optimize marketing conversion • Optimize sales conversion

Start Up

$300k

$800k

$2M

Next Stage?

Building Value

Growth

Marketing Needs



• Increase margin and cash• Build a culture• Optimize production • Optimize marketing conversion • Optimize sales conversion

• Increase margin and cash• Build a brand and community• Optimize systems• Optimize team• Optimize for future

Start Up

$300k

$800k

$2M

$7M+

VISITORS

LEADS

SALES

REVENUEINVEST

ACTIVITIES

ANALYZE

Determine Your KPIs Around Process

VISITORS

LEADS

SALES

REVENUE

EXPENSE

Net Return on Investment

____________________

Investment = ROI

1,000

25

5

$35,000

$8,000

$27,000________________

$8,0003.38=

3% Lead Conversion

20% Sales Conversion

$7,000 Avg. Rev/Sale

Period: Weekly, Monthly, Quarterly Example KPIs

Net Return$35,000 - $8,000

Marketing Goals; What Are Those?

Assess What You Do and Know1. How well are is your marketing and sales machinery working?

2. What are your competitors up to?

3. What do your clients say about you?

Understand Your Buyer’s Journey

Is aware of a symptom or pain or some kind. Knows they need help. Top of Funnel


Likes Information, but not ready to make a decision.


Understands their options and are ready to make a decision about which option they would like to choose. Bottom of Funnel


Define Your Prospect Personas = Target Content

Small Biz Joan: I am self-made, no college, married with two children. I make a good living ($200k+). I run a tight ship and relationships are important to me. I enjoy the finer things – wine, good coffee and music.

Non-stop Neil: I’m Neil. I am a college grad and run the business my father started. I am not married so I have disposable income. I do all the research for our company, but my dad still makes the final decision. I enjoy hanging out with friends and live music.

Use Systems to Support Your Processes

WWW

Monitor web site traffic patterns and usage

Track inbound and outbound calls and recordings

Web site forms, content presentation and nurturing

Provide automation for sales follow up and sales activities

Document marketing and sales expenses

Define the Content for Each Stage

Topics that matter to your buyer personas

Content that has context to stage

Content should drive prospects down funnel

Define a Simple Campaign and … Success: Get 25 More Leads per Month

Time: 3-Month Campaign

Target Persona: Small Biz Joan

Content: Top Funnel Offer – 5 Simple Tricks to Reduce Bookkeeping Hassles

Consideration Offer – 3 Bookkeeping Services to Resolve Your Hassles

Bottom Funnel Offer – Get 30 Min, No Hassle, No Cost Consultation

Go fishing and see how you do!

Check it, I Don’t Need a Marketing Team!

Marketing Skills Needed in Today’s World

Team

Design & Development

Content & Editing

SEO

Analytics & Reporting

Project Management

PPC

$400k to $600k per Year

Marketing Automation

A Good Marketer

1 Person

1 to 2 Skill Sets

Team


Content & Editing

SEO


Project Management

PPC

$50k to $65k per Year $400k to $600k per Year


An Outsourced Marketing Team

1 Person

1 to 2 Skill Sets

Team Outsourced Team


Content & Editing

SEO


Project Management

PPC

$50k to $65k per Year $400k to $600k per Year


$30k to $120k per Year

Management Knowledge NeededTeam Management Skils

Strategy: where do we point our marketing guns?Project Management: Leading project teams Web design: main value prop, calls to action Conversion: a consideration stage offer vs. bottom of funnelContent: targeted messaging and campaign(s)Email: simple call to action, the right frequency and contextSEO: keyword research PPC: keyword research and ad conversionSocial: 80/20 rule, post where your audience hangs Marketing & Sales Automation: Know your processes, technical knowledge of systems Performance Reporting: constant oversite, key metrics


Content & Editing

SEO


Project Management

PPC


There is a Right Price for Every Service

The Service Firm DilemmaClients pay us for the time we work for them

Clients pay us for the value of service we provide

COGS for Service Firms – Labor (W2 and 1099)

Our product is our labor, so we had to figure out what our fully

burdened costs, not just wages

Define Labor Costs for Services

We looked at each service we provided and defined our costs

Sales is Easier if You Define Service Margins

When I know my margins on services I am able to understand

where I can give on price if I need to and where I do not have room.

Improve Client Portfolio Performance

Use Technology to Achieve Marketing Success? Auhhhgg!

VISITORS

LEADS

SALES

REVENUEINVEST

ACTIVITIES

ANALYZE

Where Should / Can We Automate?

Be “Process Appropriate” to Your Stage

Next Stage?

Building Value

GrowthStart Up

$300k

$800k

$2M

$7M+

Each stage of your business requires a different set of marketing and sales processes.Create the process, then automate it when you are able to.

Educate Yourself

• Web site analytics• RSS feed for blog• Form capture• Basic email follow up• 1 to 2 Social Media

accounts

Start Up

$300k

$800k

$2M

$7M+

Lifestyle or Business First?

Be Repeatable

GrowthStart Up

$300k

$800k

$2M

$7M+


accounts

Manage People, Escape the Entrepreneur's Trap

• Site conversion analytics• A/B Testing conversion • Email nurturing• Basic call tracking • Performance data

Standardize

Building Value

GrowthStart Up

$300k

$800k

$2M

$7M+


accounts

• Site conversion analytics• A/B Testing conversion • Email nurturing• Basic call tracking • Performance data

• Sales activity follow up• Dynamic content • Call analytics• ROI Monitoring

Build Teams

Decide on ExitNext Stage?

Building Value

GrowthStart Up

$300k

$800k

$2M

$7M+


accounts

• Sales activity follow up• Dynamic content • Call analytics• ROI Monitoring • Niche verticals

• Site conversion analytics• A/B Testing conversion • Email nurturing• Basic call tracking • KPIs

• Internal marketing -Marketing Communication

SystemEcosystem

WWW

Monitor web site traffic patterns and usage

Track inbound and outbound calls and recordings

Web site forms, content presentation and nurturing

Provide automation for sales follow up and sales activities

Record expenses Monitor “Closing The Loop” (KPIs and ROI)

Attract attention to your site

Fresh, relevant content attracts Google search engines

Clear calls to action convert visitors to leads

Get detailed analytics of traffic and behavior to understand engagement

Nurture Leads & Qualify

Automate workflows for specific content

Understand which content converts best

Integrate with Salesforce.com

Appropriate Sales Follow UpIntegrate with Hubspot

Convert qualified Leads into Opportunities

Track / automate Opportunity activity

Analyze and assess overall performance and ROI

You’ll Feel Perfect Zen

Closing the Loop takes Trust and Communication

What Should We Evaluate and When?

Quarterly

Marketing strategies• Definition of Success• Campaign(s)• Content• Events• Offers• Process


Monthly Quarterly

Close the Loop• Traffic Drivers• Engagement• Conversion• Sales / Revenues• KPIs



Weekly Monthly Quarterly


Close the Loop• Traffic Drivers• Engagement• Conversion• Sales / Revenues• KPIs

Status• Deliverables• Quick Check

Creating a Strategy & CampaignClient Need / Pain

Location / Type of Prospect

Offers

Process

Campaign

$

If you are not solving a pain or providing for a felt need, you are pushing a rock up hill

STOP: What are your success metrics and what do you want to learn?

For Whom?Client Need / Pain


Offers

Process

Campaign

$

PersonaGeography

Market Vertical

What Intrigues Them?Client Need / Pain


Offers

Process

Campaign

$

Content and Incentive

Client Need / Pain


Offers

Process

Campaign

$How will your

marketing machine work?

Can You Handle Success?

Timing and Success Metrics Client Need / Pain


Offers

Process

Campaign

$Operating Plan

Your Ultimate Goal – Build Your Business

Client Need / Pain


Offers

Process

Campaign

$

VISITORS

LEADS

SALES

REVENUEINVEST

ACTIVITIES

ANALYZE

Closing the Loop – Most Important

Where Does the Loop Start?MarketingActivities

Traffic

Leads

Sales

Revenue & ROI

Content Marketing

SEO/SEM

Email

Referrals

Paid Search

Print Ads

Other…

Understand Traffic Drivers and Engagement

MarketingActivities

Visitors

Leads

Sales

Revenue & ROI

Landing Pages

Blog Posts

eBooks

Backlinks

Avg. Time on Site

Pages per Visit

Bounce Rate

Who is Converting and Why?MarketingActivities

Traffic

Leads

Sales

Revenue & ROI

Which Persona(s)?

What Content Offers?

Top of the Funnel vs. Bottom

Who is Buying and Why?MarketingActivities

Traffic

Leads

Sales

Revenue & ROI

Profitable Revenue?

The Loop Between Marketing & Sales

MarketingActivities

Traffic

Leads

Sales

Revenue & ROI

VISITORS

LEADS

SALES

REVENUE

EXPENSE

Net Return on Investment____________________Investment = ROI

1,000

25

5

$35,000

$8,000

$27,000________________

$8,0003.38=

3% Lead Conversion

20% Sales Conversion

$7,000 Avg. Rev/Sale

Period: Weekly, Monthly, Quarterly KPIs

Net Return$35,000 - $8,000

Gather the Data• Traffic• Leads• Sales• Revenue• Expenses

www.MarketingManager.us

Visualize Trends

Understand ROI

Have Success More Often

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Fundamentals of achieving better marketing ROI