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Mid year marketing multipliers


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8 Tips on things to look at to improve your marketing in the second half of 2014. From a webinar.

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Mid year marketing multipliers

  1. 1. July 2, 2014 Mid-year Marketing Multipliers 8 Marketing Tips for the second half of 2014 Barbara Fowler CMO, Partner Chief Outsiders@barbfow50 @chiefoutsiders
  2. 2. Where are you in your buyer’s journey? A cat The hottest new toy in 2014 My company to grow faster To sell the best homeowners insurance in Florida I want…
  3. 3. Make your company easy to do business with! What do you do when you need something? 57-92% of search starts on the internet! Do clients find you via your website? When they get to your site, what do they expect? What if they don’t find what they want?
  4. 4. Where are you now in marketing on the web? SEO Content Tech 3 Key Components These are all connected and must be utilized together!
  5. 5. 8 steps to take Develop Strategy Before Tactics Become Data-Driven Benchmark Against Key Competitors Integrate Everything Identify Buyer Personas Review Current Marketing Spend 1 2 3 4 5 6 $ ✓ ✓ Everyone is in marketing! 8 Test 7
  6. 6. It Begins with a Mindset Benchmark Against Key Competitors Be curious, get outside your own company! 1
  7. 7. Best Trade Show Marketing Best Blogs Google Alerts, Talkwalker Moz’s OpenSite Explorer Marketing Grader Competitor Analysis Be curious, get outside your own company! How? SEM RUSH EXPLORE!
  8. 8. Check where you are spending money and time Review Current Marketing Spend No Sacred Cows 2 $ ✓
  9. 9. Including salaries? What is the result? $10,000,000 revenue What are you spending and what does it include? $20,000 to $500,000 Averages are from 2-50+% depending on study and industry Example 20% 12% 8% 7% 6% 6% 5% 21% TRADE SHOWS, SEMINARS, CONFERENCES CONTENT PRODUCTION WEBSITE AGENCY FEES EMAIL ADVERTISING PR OTHER
  10. 10. First Things First! Develop Strategy Before Tactics3
  11. 11. What is the Difference? Strategy can be the broad goals of the company that generate the results the company wants to achieve. A tactic is a specific “do-it” to achieve the strategy. Strategy or Tactic? • Be the market share leader in sales in the mid-market in our industry. • Maneuver our brand into top two consideration set of household decision makers. • Deploy a marketing campaign that leverages existing customer reviews and spurs them to conduct word of mouth with their peers in online and real world events. • Improve retention of top 10% of company performers. Offer best in market compensation plan with benefits as well as sabbaticals to tenured top performers, source ideas from top talent.
  12. 12. We want to work with people we know and trust *What do you need and how can I help you? Identify Buyer Personas Who are your prospects? Where do you find them? How do they find you? What stage of the buying process are they in? 4
  13. 13. Paint a Picture We want to work with people we know and trust *What do you need and how can I help you? What are their demographics? Age, Gender, Income, etc. Where do they go for information? What are their pain points? What are their most common concerns? What do they value most? What are their goals? How do I identify this persona?
  14. 14. How? And they need it….Now! Calling a lead within 5 minutes of a form fill vs. 60 minutes of a form fill increases conversions by 341% (1) If you call a lead within 60 seconds of a form fill you are 500% more likely to convert the lead (2) The first business to speak to a lead on the phone is 238% more likely to get that lead as a customer than the second business to speak to the lead (1) The odds of contacting a lead if called in 5 minutes are 100x higher vs. 30 minutes (1) The odds of converting a lead if called in 5 minutes are 21x higher vs. 30 minutes (1) Technology Tips: Consider these statistics. (1) Kellogg School of Management at Northwestern, Speak2Lead (2) MIT 1 2 3 4 5
  15. 15. Think PESO! What is a MQL? What is a SQL? Integrate Everything! The Earned Premium Paid, Earned, Sponsored, Owned 5
  16. 16. Obsess! Obsess! Become Data-Driven Show Me The Numbers! 6
  17. 17. Show me the Numbers! Analytics Before Anecdotes!! ROI CLTV Conversions How much revenue/how much I invested How much profit will I earn from this customer over time? What is a conversion and how will I measure it?
  18. 18. You don’t need to bet the bank! Experiment! Use Technology! And Test, Test, Test! Google Analytics, Marketing Automation, CRM Systems, Apps, A/B testing, 7 ✓
  19. 19. Marketing Automation, CRM Systems, Apps You don’t need to bet the bank! Experiment! Google Analytics A/B Testing of Landing Pages Email: MailChimp, Constant Contact, @
  20. 20. Develop the Culture/ Be Agile/ Experiment There is no such thing as Digital Marketing, It’s Marketing! Everyone is in Marketing! 8
  21. 21. Thank you! I can’t do it all! What should I start with? MozLocal SEMRush Go Outside If you don’t have it, add Google+ and update local pages Benchmark three competitors. Decide who to beat Get some expert advice. Marketing is evolving every day.
  22. 22. Contact us! Barbara Fowler 908-956-4529 Part-time CMOs for growth companies