How to Crush Your Competitors with Inbound Marketing
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In this slideshare you will learn what inbound marketing is, how inbound marketing differs from traditional marketing, and tips and tricks on how to use inbound marketing to your advantage.
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How to Crush Your Competitors with Inbound Marketing
- 1. 800.425.9843 www.blytheco.com/bam Think.blytheco.com | twitter@blythecollc
- 2. Crush Your Competitors with Inbound Marketing
- 3. Apryl Hanson, Blytheco Director of Customer and Partner Strategy Editor of Bellwether Magazine Director, Blytheco Advanced Marketing @aprylhanson Think.blytheco.com – blog www.blytheco.com/BAM
- 4. What will you learn? 3 Take-a-ways 1. The role of inbound marketing 2. How inbound marketing is different 3. Tips and Tricks on how to use inbound marketing to CRUSH your competitors
- 5. What is Inbound Marketing? Focus on pull vs. push
- 6. What is Inbound Marketing Informational
- 7. What is Inbound Marketing Content
- 8. What is Inbound Marketing ● Need to have ● Know your ideal prospect ● Focus on key search words ● Develop content around these two things
- 9. What is Inbound Marketing Don’t be This Guy
- 10. How is Inbound Marketing Different Traditional Marketing is about sending information out
- 11. How is Inbound Marketing Different Don’t Interrupt Your Audience
- 12. How is Inbound Marketing Different 1%-5% response rates vs. 25%+
- 13. How to Crush Your Competitors ● 62% lower cost per lead ● $346 traditional marketing spend vs. $145 inbound marketing spend, per lead* *Hubspot 2012 State of Inbound Marketing Report
- 14. How to Crush Your Competitors Blogs, Social Media, and Organic search top the charts as the least expensive activities in marketing, yet are the most lucrative.
- 15. How to Crush Your Competitors 52% of companies that blog say that they receive low cost leads from doing so!
- 16. How to Crush Your Competitors ● NPS and Customer Engagement ● Predictive Indicator of Future Revenue ● All others are Post Indicators ● NPS – get’s better as you interact more online
- 17. How to Crush Your Competitors 47% of SMB’s are putting more dollars into inbound marketing
- 18. How to Crush Your Competitors Larger Companies don’t necessarily get it… SMB’s raising inbound marketing spend to 43% in 2012 vs. 21% at enterprise
- 19. How to Crush Your Competitors Better Close-Rates Inbound leads 14.7% Traditional 1.7%
- 20. How to Crush Your Competitors ● Blog Post Frequency = Customer Acquisition ● 1 post per month = 43% chance of producing a customer ● Weekly = 66% chance ● Daily = 78% change ● More than once a day = 92% chance
- 21. How to Crush Your Competitors ● Know which avenues are right for your business and have a plan ● B2C still focused on Facebook ● 77% B2C acquire customers via FB ● B2B still focused on LinkedIn ● 65% of B2B acquire customers via LinkedIn
- 22. How to Crush Your Competitors In the next 3-4 years 80% of content on the web will be video
- 23. How to Crush Your Competitors ● Become friends with a little thing call CTA’s* *CTA is Call to Action, used as a way to gain information about prospects as they view higher level content on your website behind form fills.
- 24. How to Crush Your Competitors ● 4 types of information, 3 are CTA’s ● Free content, everyone can see – general info ● Step-up Content – more interesting, white papers ● Higher-level content – longer white papers, ebooks, groups of white papers, presentations ● Rich- level content – test drives, free trials, consultations, personalized quotes, samples
- 25. What Have You Learned? ● The role of Inbound marketing ● Inbound vs. Outbound ● Top Crushing Techniques of Inbound Marketing
- 26. Inbound Marketing Strategy ● Don’t know where to start? ● We can help ● Free Marketing Evaluation www.blytheco.com/BAM
- 27. Questions? ● Thank you for joining me ahanson@blytheco.com @AprylHanson @blythecoLLC 949-583-9500 X 1180
Notas do Editor
- What is inbound marketing? - Inbound marketing is the focus on strategies and techniques that pull a customer or prospect towards a company or product instead of the company pulling the customer or prospect towards them.
- It is informational (content) based and is built on the "if you build it, they will come" theory.
- Content becomes the key factor as people will find you as your post and deliver valuable content
- All of this is dependent on you knowing your ideal prospect, focusing on the key search words they would use to find you, and developing content around what your ideal prospect is trying to find.
- Inbound Marketingis about being relevant!
- How is inbound marketing different than traditional marketing (outbound)? - Traditional marketing is about sending a message out about what you have to offer - this is considered interrupted marketing.
- Don’t interrupt your audience, when you send messages, blast e-mail’s, make phone calls – you are doing a lot of work for little return. You don’t know if your prospect is interested OR if they are ready to talk to you. Traditional marketing doesn’t let you know when your prospect is looking, ready to talk, has a budget and needs your expertise….it blasts out to the public what you have to offer in hopes of a measly return of 1%-5%
- And as people have become more savvy with SPAM filters, Do Not Call Lists etc... it has been harder and harder too get your message through. Plus, even if you get your message through - it may not be the right time nor their may not be an interest level. With inbound marketing you know that it is the right time, and the right messaging because the prospect is searching for you.
- How can this help you crush your competitors when you adopt this marketing philosophy?Inbound marketing consistently creates a lower cost per lead than outbound. About 62% lower, that is. According to Hubspots 2012 State of Inbound Marketing Report, $346 is the average outbound cost per lead vs. $145 inbound. So as you shift your business to inbound efforts, your competition will be left behind paying additional dollars on marketing that you will be putting in the bank or utilizing for other areas of your business.
- Blogs, Social Media and Organic search top the charts as the least expensive activities in marketing, yet are becoming the most lucrative. And, the added benefit is as you are spending time researching articles to be written, interacting and engaging with customers on social media and being found organically in search engines - you will naturally become better at what you do. That is right - the added benefit here is that as you create more content - you will find more content. As you interact with your customers you will be better at predicting what they need and what you might also want to sell to them or add as services to make them happier...all the while your PPC can go down and your organic search goes up. Once you have the jump in Organic Search and have a lot of content built up - it is pretty hard to catch you. The way Google indexes content is based on who looks like the expert online. Therefore he with the most content wins.
- Be first and Be Great. 52% of companies that blog say that they receive low cost leads from doing so.
- The added benefit of Customer Engagement - I mentioned it briefly before but there is this little indicator of business health called NPS or Net Promoter Score. Maybe you've heard of it. If you haven't it is the only measurement in business that has been found to be a PREDICTIVE indicator of future revenue in a business. Spreadsheets and everything you get out of your ERP system can tell you what has happened in the past but it can't predict the future. NPS can. NPS take a look at how happy your customers are with you and IF they would recommend you to a friend or colleague. This measurement determines future WOM (word of mouth) of your business or product. If you are highly engaged with your client on social media avenues - and you are focused on listening and adapting your business to what they want and need from you - you will increase your revenue. Businesses with a good healthy NPS score will accelerate in revenues at 10% higher than the natural growth happening in their business. (Bain and Company Study) Likewise, businesses with a negative or bad NPS are slowly going out of business - they just aren't aware of it yet.
- 47% of companies surveyed are putting more $$'s into inbound marketing. - So if you aren't doing it your competition will be and as we learned above (earlier) those that begin to increase their content will rise faster and will be hard to reach. Don't let your competition out smart you by developing content faster and better than you.
- Large Companies don't necessarily get it. If you are an SMB - they on average are increasing their budgets to spend about 43% on inbound marketing vs. large companies that are allocated about 21%. True, those budget sizes are very different in terms of dollars and the actual dollars that need to be spent on inbound marketing are relatively low - BUT just because a company is larger than you doesn't mean that they will be more savvy at inbound marketing. The only advantage MAY be the ability to create content more quickly. The challenge that a larger company will have is engagement in social media and personal attention. Customers want to get to know you and social media is a great way to do that. It becomes harder when it is a team of people vs. the personality of just a few individuals that come across to the user.
- On average inbound leads have a 14.7% close rate vs. outbound leads that have only an average 1.7% close rate. - This means that not only will you be producing more leads but the likelihood of closing those deals will increase as well, and that means that your bottom line is sure to go up. If your competition is focused on traditional marketing here is a sure-fire way to increase your profits and bring in new customers faster than your peers.
- Blog Frequency relates to customer acquisition. Posting one time a month gives you about a 43% chance of producing a lead through this avenue vs. a 92% chance if you have postings more than once a day. (weekly postings at 66% and daily at 78%) - As you can see, there is a correlation to help you determine how many leads you can potentially seek from a BLOG. Don't you want to increase your possibilities? If your competition is posting weekly or daily, you know they are increasing their opportunities for leads from this inbound effort. Content from BLOGS NEVER goes away and is always out there working for you. We have blog articles we have written years ago that are still viewed and commented on today. Build history and sustainability with your blog. It is just like adding multiple layers of ice cream flavors to what you already have in the cone.
- B2C still focused on Facebook, B2B on LinkedIn - it still seems although these channels do cross over and there are opportunities for both B2C and B2B companies on both avenues. 77% of B2C companies interacting on Facebook acquire customers through this platform and 65% of B2B companies interacting on LinkedIn are gaining customers through those channels. When the opposite is reported there is a drop but still opportunity as 51% of B2C companies receive customers through LinkedIn vs. 43% of B2B companies receive customers through Facebook. Depending on who you are selling to and the time you have - selecting the right channel for interaction may determine your success. You should also watch what your competition is doing OR not doing on these platforms to see how you want to focus your strategy to obtain business opportunities.
- In the next three to four years the majority of content on the web will be video. Are you ready for this initiative to happen? Should you start creating video now? The truth is that now is the time to capitalize on creating and indexing video content that can be linked back to your website and your blog.
- The beauty of CTA (Call to Action) - if you don't know what it is, get familiar with it and make it your friend. If you can get good at CTA's you will crush your competition because not only will you have good information you will develop processes to follow-up with these types of potential customers based on what information they are asking for.
- There should be 4 types of information you give away on your website.Content that everyone can see - this would be pages on your website and content on your blog. - you won't be able to interact with these folks unless they engage you.Low level content, that is a little more interesting and in depth than what you have on your website or blog and requires the reader to supply at least the minimal name, company name (if applicable) and e-mail address to get to. - you can set up nurture marketing to these folks to get them to move-up in content so you know they are serious. Medium level content, like white papers, reviews, presentations, recorded webinars etc. and require more information like address or phone number to get to the information. - depending on their interaction you will engage or push them to higher end content to see if they bite. High level content, like test drives, free trials, consultation, personalized quotes, samples etc. that should require as much information as you need to be able to complete the process. - interaction becomes key and needed with this group, this is your hottest prospect.