avoid the fast food marketing trap - what business can do to create healthy and profitable online...
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- 1. Presented by: Marguerite Inscoe Inbound Marketing Strategist 3/28/2014 Copyright LaunchU LLC 2014 2
2. Avoid the Fast Food Marketing Trap How to Create Healthy and Profitable Online Marketing Marguerite is the owner of a full service inbound marketing agency, ReLaunchU. Her first career was in workplace learning and performance. Her love of helping people be better at what they do made the transition inbound seamless and enjoyable. Connect with her on LinkedIn and Facebook. Presenter Bio Marguerite Inscoe 3/28/2014 Copyright LaunchU LLC 2014 3 3. Avoid the Fast Food Marketing Trap How to Create Healthy and Profitable Online Marketing No shopping No cooking No cleaning Low cost Flashy marketing Everyone else is doing it! Fast Food Why is it so delicious? 3/28/2014 4Copyright LaunchU LLC 2014 4. Avoid the Fast Food Marketing Trap How to Create Healthy and Profitable Online Marketing For people it results in: Difficulty in delaying gratification Chronic health issues In business marketing it results in: The constant need to see quick returns Lack of strategic planning for marketing Chasing the next promising tool or product 3/28/2014 5Copyright LaunchU LLC 2014 Fast Food Produces empty calories. 5. Avoid the Fast Food Marketing Trap How to Create Healthy and Profitable Online Marketing Eating the right thing every once in a while doesnt produce notable results or provide long-term benefits. Apply healthy marketing practices periodically doesnt generate revenue quickly, or even at all. Regularly applied healthy marketing activities has a compound effect over time, creating a competitive advantage in the marketplace. Healthy eating, as well as healthy marketing is only for the committed in daily action and financial investment. 3/28/2014 Copyright LaunchU LLC 2014 6 6. Avoid the Fast Food Marketing Trap How to Create Healthy and Profitable Online Marketing Healthy marketing is critical for growth. If we want to be more For our clients For our community For our employees It means we have to do more To shape our marketing To grow our business 3/28/2014 7Copyright LaunchU LLC 2014 7. Avoid the Fast Food Marketing Trap How to Create Healthy and Profitable Online Marketing Focused Target Shaped for specific types of people (personas) not just demographics. Valued People want first hand experience or learn from a trusted 3rd party reference. Ownership Intellectual property, established process, and in-sourcing. Closed-Looped Performance tracking from suspect to sale, then to retention and up-sell. Ongoing Regular, repeatable activity that is monitored and tweaked for improvement. Builds Equity Adds to the marketing system and has a compound effect over time. 3/28/2014 8Copyright LaunchU LLC 2014 Online Marketing What represents healthy 8. Avoid the Fast Food Marketing Trap How to Create Healthy and Profitable Online Marketing Cost of Client Acquisition (CAC) How to measure efficiency in your marketing and sales. Is it going up or down? Month of Sales and Marketing Cost Months New Customers = CAC Marketing Percent of CAC How much the cost of marketing contributes to gaining a new client. Marketing Cost Sales and Marketing Costs = M%-CAC Ratio of Lifetime Value to CAC (LTV: CAC) Determine the best ratio for adding to the bottom line but also fueling growth. Lifetime Value (LTV) = (Revenue the customer pays in a period - gross margin) Estimated churn percentage for that customer. Time to Payback CAC How soon money can be made from a new client. Ideally >12 months for on-going clients. CAC Month of Margin-Adjusted Revenue = Time to Payback 3/28/2014 9Copyright LaunchU LLC 2014 Marketing Metrics What the boss cares about. 9. Avoid the Fast Food Marketing Trap How to Create Healthy and Profitable Online Marketing Broad Target Trying to be appealing to everyone and using wide broadcast channels. Annoying Brand awareness and top-of-mind is losing impact with consumer-decision making. Outsourced when it could be in-sourced. Is it producing empty calories? Unaccounted Performance not tracked in order to assess how well it contributes to sales and retention. Intermittent Dictated by the ebb and flow of sales or latest interests in marketing technology. Shortsighted Activity that generates supply for today, not building for the future. 3/28/2014 10Copyright LaunchU LLC 2014 Online Marketing What represents unhealthy 10. Avoid the Fast Food Marketing Trap How to Create Healthy and Profitable Online Marketing 3/28/2014 11Copyright LaunchU LLC 2014 Average of 70 pool installations down to 17 in 2009 Spent $250,000 in marketing to make 4 million Focused on answering questions via blog Over 850 pages of content Most visited in the world 30% of sales direct from website (placing an order) Spends $25,000 in marketing to make 4.5 million River Pools and Spas Welcome to the Most Educational Swimming Pool Blog in the Country! 11. Avoid the Fast Food Marketing Trap How to Create Healthy and Profitable Online Marketing 3/28/2014 12Copyright LaunchU LLC 2014 Consumers want Self-serve: Anytime, Anyplace, Anything VALUE = Helping them to be awesome! VALUED == How awesome you are. VALUED == How great a sales promotion is. VALUED == How entertaining you are. Consumers need To experience VALUE before they enter the buying stage. If you dont make what consumers want available in a self-serve format, it limits their ability to experience your company. 12. Avoid the Fast Food Marketing Trap How to Create Healthy and Profitable Online Marketing 3/28/2014 13Copyright LaunchU LLC 2014 They experience value when your marketing helps them Be better at their job Improve relationships Educate their kids Make cost effective choices With keeping the house organized Look good in front of friends Experience progress in a project Get the job promotion they want And the list goes on Ingredient #1 Focus on helping not selling. Ingredient #2 Transparency. They know you are valuable, now they want to know everything they can about WHAT and HOW you deliver. 13. Avoid the Fast Food Marketing Trap How to Create Healthy and Profitable Online Marketing 3/28/2014 14Copyright LaunchU LLC 2014 Cooking Process Let the ingredients speak for themselves. 14. Avoid the Fast Food Marketing Trap How to Create Healthy and Profitable Online Marketing 3/28/2014 15Copyright LaunchU LLC 2014 Sobiesek Services Inc Using healthier cooking processes in marketing. A 26-year-old family owned and operated business that has grown to over 300 employees. Offers plumbing, heating & air conditioning solutions across PA, MD, DE, and NJ. SEO consultant not performing, too many different platforms, not enough analytical information Consolidated systems with Hubspot and focused on website traffic, social media, email marketing, and conversions, Resulted in 33% less PPC, 204% increase on closed online customers, 125% increase in online revenue. I'm not sitting at my desk trying to come up with ideas for people I know nothing about. I feel like I'm getting to know our customers, and as a marketer, that's exciting information to have! -Brittney, Marketing Manager 15. Avoid the Fast Food Marketing Trap How to Create Healthy and Profitable Online Marketing 3/28/2014 16Copyright LaunchU LLC 2014 How Healthy is Your Online Marketing? None 1 pt Sort of 2 pts Okay 3 pts Killer 4 pts Self-Serve Helpful Transparent Organic Close-Loop Automated Nurturing Intelligence In-sourcing Converting CRM Total For Each Column Total Score 0-10 pts: You have no marketing program! 10-20 pts: There is a serious amount of opportunity to improve 20-30 pts: Its time to decide how healthy you really want your marketing to be 30-40 pts: Super, you already know what you are doing 40+ pts: You teach the next class 16. 17Copyright LaunchU LLC 2014 ABOUT US Evolve your marketing, evolve your business. ReLaunchU is a full service inbound marketing agency for B2B companies. We help you obtain quality leads through your website and social media so they are staged successfully for the sales process. Our specialty is in the training and consulting industry. 1. We believe our clients marketing should be enjoyed and valued by their prospects 2. We believe our services should demonstrate to clients a desirable ROI in a timely manner 3. We believe now is the time for businesses to increase their online real estate in order to secure a competitive advantage for years to come Contact us for an inbound marketing assessment consultation. 757-828-6123 http://ReLaunchUOff.com 17. 18Copyright LaunchU LLC 2014 Resources Download these anytime from our website. http://ReLaunchUOff.com/resources-for-inbound-marketing-strategies