Inbound marketing has changed the landscape of sales. The internet is the starting point of the business relationship and companies must have an online presence to clearly convey who they are and what they do. As businesses consider hiring a marketing agency and starting an inbound marketing campaign, they are often shocked at the cost associated with that effort. This week on The Funnel, John and Lindsay address the individual components of an inbound marketing campaign and why the cost, while high, is absolutely worth the investment.
Many variables are involved in the calculation of an inbound marketing retainer. The number greatly varies depending on what the client wants to achieve. What is their goal? What is their current situation? What is their budget and can they attain their goal with what they are willing to spend? The right solution takes all of these factors into consideration. Inbound marketing:
costs moneytakes timeis an investmentis not a magic bulletis no ‘one size fits all’ solutionInbound marketing retainer deals take into account multiple factors that are dependent on client needs. Retainers cost between $4000 and $15000 a month based upon the goal projections and sales. After the initial sticker shock, some companies begin to look for alternative solutions, especially smaller companies that lack expansive budgets. They might attempt to obtain the materials and do the marketing themselves. But as Lindsay likes to say, “I can take eggs, flour and sugar and make a cake, but it is not going to look like the Cake Boss’s cake.” Sometimes people put less value on things they do not understand.
There is a high level of expertise required to drive an inbound marketing strategy. It is not easy and it takes a tremendous amount of work and time to build an effective inbound campaign. This effort is a marathon, not a sprint. So what exactly is a company paying for when they contract an agency to develop an inbound campaign?
It begins with the website and search engine optimization
The public’s first blush of a company is less about their building and more about their website. How does the company interface digitally? If a prospect want answers to questions, they are going to search for answers on a website; yours or your competitors. A strategy is developed to drive traffic to the website. A major component of the inbound process is evaluating a client’s website for search engine optimization. Yes, the website needs to be modern, fresh and appealing to the consumer, but the work doesn’t stop there. Attention must be given to the back end of the process; the behind the scenes work that drives traffic. All web pages must be set up correctly with long-tail key words that match the content and drive SEO. That process is complex and data driven. Google is the King of SEO; correcting the algorithm and updating it frequently. SEO is an ongoing process that must be taken into consideration with each new piece of content that is developed.
Writing to drive SEO
In order to become relevant, companies needs to position themselves as a thought leaders within their industries. That is accomplished by creating content that is informative, helpful and relevant. Writing content takes time, effort, and an individual who is a skilled writer. Some companies have talent within their organizations capable of producing content, but others do not have staff able to handle the task. Content must be published on a consistent basis and provide value. A weekly blog, vlog or podcast is an excellent way to share information with clients and prospects. The inbound marketing consultant can be contracted to provide content for clients who require that service.
Develop landing pages
Landing pages are singular in function; their goal is to obtain a prospect’s information. A landing page provides an offer for a prospect and, in exchange, they must provide some information to receive that offer. The offer can be a subscription to a blog or podcast, an infographic, a white paper, an eBook; something that offers true value to the prospect. The landing page is a forum that facilitates that exchange of information. You are not exchanging currency, but the currency a prospect holds is the gold that you need; their email address. The currency you hold is the eBook, white paper, subscription; whatever it is – the valuable content you are providing. Professional individuals will go to a website and provide a real email address and the back and forth exchange information begins. That is how online relationships are nurtured and developed. The inbound retainer can include providing a number of offers that live inside your system and are available for download.
Email nurturing campaign
Once the holy grail of the email has been provided, a relationship can be pursued. This is not a license to bombard the prospect with multiple emails to the point of annoyance. Track information the prospect has downloaded and provide them with similar or follow up content. Continue to nurture the prospect by providing useful information as time progresses. Each email will have a purpose; a soft sell, a hard sell, but most importantly, pertinent information that your prospect will find valuable. The email campaign is almost always part of the retainer.
Social media sharing
Creating amazing content that has SEO will drive the right traffic to your website. But another avenue to broadcast information is the amplification of that content out to the masses. What does that mean? Social sharing. Some industries have greater success with LinkedIn and others with Twitter, but sharing relevant content with larger audiences is another way to convert individuals into prospects. Lindsay and her colleagues have been able to position their top clients as industry thought leaders. By publishing blogs on the long forum in LinkedIn, tweeting and sharing that information, and sharing the content of other thought leaders, a larger audience has access to content the client has produced, or had produced for them. Daily tweeting and posting on LinkedIn is vital to positioning oneself as a thought leader.
Create buyer personas
A buyer persona is a fictitious representation of a typical client you wish to do business with. In the sales world this persona is referred to as an ideal prospect. Companies develop personas for each ideal prospect they are attempting to reach. Content is then created around those personas and their perceived needs. These personas are fluid and additional information is added to them to further hone marketing efforts. Creating these profiles is typically one of the first tasks of an inbound agency.
What defines an effective inbound marketing campaign?
The end goal of an effective inbound marketing campaign is revenue growth for the client. Sales and marketing must be on the same page when it comes to goal setting for the campaign. Inbound leads do not stand on their own as a measure of success. Sales must be involved in the process. Without inbound marketing, sales has greater difficulty penetrating accounts, creating opportunities and selling leads. Without sales, inbound leads remain warm and few are brought through the sales cycle. For sales and marketing strategies to be effective, sales and marketing alignment must be present and each team must be fully invested in a positive outcome.
Keep Filling the Funnel
It takes between 9 to 12 months to begin to see increasing revenue from inbound marketing strategies. Statistically, inbound efforts can be tracked and ROI can be calculated. Some agencies fear putting a return on investment on an inbound marketing retainer, however, those statistics can and should be utilized and tracked to evaluate efficiency. The most important component to success is that both parties, the inbound agency and the client, are fully invested in the sales and marketing strategy. Each must commit to doing what they are supposed to, when they are supposed to do it, or the process will breakdown. The relationship needs to be solid and communication ongoing and effective. Inbound campaigns with the highest ROI are those that contract an inbound marketing agency to lead their campaign and in tandem, evaluate their hiring practices, learn how to hire sales reps and then train those reps to handle the inbound leads. Those companies are pure genius.