"inbound" sales and marketing - fuel your startup's growth

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Inbound Sales & MarketingFuel Your Startups GrowthSam Mallikarjunan

#dfsdfasdfhg

@HubSpot

Sam @Mallikarjunan

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Peoples behaviors have changed. Theyre tuning out traditional marketing tactics.

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86%91%44%200MThe old marketing playbook isSkips TV adsUnsubscribe to emailOn the Do Not Call ListOf direct mail is never opened BROKEN

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StockbrokersSlightly ahead you haveYou have car salesmenOn the low endAnd LawyersAnd Lobbyists#

In the middle, you have usSales & Marketing

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We had another great month thatdoesn'thappenwithoutyou. Thanks for building trust and credibility with our prospects before we engage with them - makes every conversation a pleasure rather than a fight :) email from a VP of Sales to his marketing team

In order to attract customers, marketers have to provide them with somethingthey love.

DefinitionInbound Marketing Is a holistic, data-driven approach to marketing that attracts individuals to your brand and converts them into lasting customers.

Cold CallingCold Emails (SPAM)Interruptive AdsMarketer - CentricTraditionalSEOBloggingAttraction Customer - CentricInboundVSWhat Makes Inbound Different?

Outbound is great TV show interrupt it just enough

Inbound is that its more economically efficient to CREATE the experience that people are looking for instead of paying to INTERRUPT one.#

Can you out-help your competitors?

(helping is hard!)

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Attract

BlogKeywordsSocial Media

ConvertFormsCalls-to-actionLanding Pages

CloseEmailSignalsWorkflows

DelightEventsSocial InboxSmart Content

How does inbound marketing work?VisitorsLeadsCustomersPromoters

Strangers

We dont make money when we sell things. We make money when we help customers make purchase decisions. Jeff Bezos

You make money when you sell things! Why would you have anything on your site that could discourage that?

Ever wonder why Amazon has ads for other eCommerce sites on their product pages? Theyre not concerned about owning the transaction their goal is to own the customer.#

It wasnt

Alwaysthis way.

Technology adoption Lifecycle

InnovatorsEarly AdoptersEarly MajorityLate MajorityTechnology Uptake10%40%48%1%

Laggards

1%The Chasm

Area under the curve represents number of customers

historyWe live in the one of the mostof commerce.interesting periods in the

We live in an era of big bang disruptive innovation.

Not just horses and the car or sailboats and steamboats where disruption is measured in decades, but massive incumbents being knocked on their heels in years or even months. #

Rogers Market segments

InnovatorsEarly AdoptersEarly MajorityLate MajorityLaggards

Trial users

VastMajority Big bangMarket segments

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new within the last decade1000 are

>70%of businesses on the US Fortune

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Just Because Your CompanyHas survivedThe last 100 years

doesnt mean it will survive the next ten.

Mass extinction brings opportunities for new species to flourish.

No one wants a inch drill bit.They want a inch hole.

If youre selling drill bits (use Vernon Dursley picture), what you have to focus on is the fact that very few people are buying from you because theyre a collector of drill bits. They dont want a quarter inch drill bit, they want a quarter inch hole.#

The company that bestsolves for the customer wins.

The company that engages in deep understanding of their jobs-to-be-done wins. The company that solves for the customer better wins.#

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Okay, Im excited enough -- so what can I do about this?"

Your extendable core is the job you do for customers that a competitor couldnt replicate without adopting the same cost-structure.An Extendable Core Insulates You From Disruption

Inbound marketing is a business model innovation based on the fact that its more economically efficient to create an experience that attracts consumers than it is to interrupt someone elses.

Inbound marketing creates an extendable core that insulates you from disruption.

or helps you disrupt others.

Inbound marketing creates an extendable core that insulates you from disruption while enabling you to disrupt others. Its VERY hard for someone to quickly replicate your content, authority, and the most importantly {pause} the trust youve built with the audience youve attracted.#

Inbound Marketing is hard.

Its not all sunshine and rainbows.

(Its pretty hard to justify, too.)

$

$

You cant improve what you cant measure.

Marketing is half of the acquisition equationWe spent $1000 and got 500 website visits

CoCA: $400CoLA: $40CoVA: $2

5% Visit-to-lead10% Lead-to-customer

Measure everything.

57%Worked Percentage0%100%33%50%Unworked eCommerce Leads

55%Average Last Attempt # 03Average Attempts Per Hi/Med SAL694.94

26%Sum of Probability Adjusted Recognized MMR in USD (Thousands)0.0012.60Current Month Sales Forecast16.8025.206.64

Why do we call them PTCs? Theyre leads, lets be honest. But it makes more immediate sense to B2C folks. Different conversions have different values.#

You're generating leads but is sales working them? Sales is creating opportunities, but howdeeplyare they working them?

Someone can copy your exact business model and outgrow you just by measuring better.

The Old Marketing Math Model

$ 6000$ 50,000$ 60,000PPCSEO FirmContentWritingExpenseYearly AmountIm spending a bunch of money on marketing, and Im making more money than Im spending back.

I spend $W to acquire customer of persona X from source Y, and they spend an average of $Z with me over their lifetime.Customer Centric Economics Model

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Starbucks has an AOV of ~$6*Using the AOV:COTA model, to get a 3:1 ratio a Starbucks marketer would spend ~$2 to acquire that $6 transaction.$14,099Avarage LTVHow Much Would You Spend?

**Source: KissMetrics

Inbound marketing is a business model innovation based on the fact that its more economically efficient to create an experience that attracts consumers than it is to interrupt someone elses.

A Business ModelA Better Business ModelCOCACOCACOCACLTVCLTVCLTVCLTVCLTVCLTV$1 in, $2 out.$2 in, $12 out.A Scalable Business ModelCOCACLTVCLTV$2 in, $4 out. Faster growth.COCACOCACLTVCost Of Customer AcquisitionCLTVCLTVCLTVCLTVCLTVCLTVCLTVCLTVCLTVCLTVCustomer Life Time Value

Customer centricity creates competitive leverage

Inbound marketing is inherently customer centric which creates a massive competitive advantage.#

TimeInvestment PeriodPaybackPeriodProfitPeriod

Time to PaybackSelf funding pointBreak even point

Discounted cash Max Cash Consumed

So easy, pretty, and simple to understand, aint it?The Conventional LinearBuying Process

I'm just in the neighborhood and dropped in to browseI urgently need to buy a black sweater.

AwarenessConsiderationPurchase

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Its not an end-stateIts an infinite loopAwarenessInterestDesireActionReinforcementRepurchase

Sam#

How Real People Really Buy

Spend several minutes on this slide.#

How Real People Really Buy

Spend several minutes on this slide.#

How Real People Really Buy

Spend several minutes on this slide.#

How Real People Really Buy

Spend several minutes on this slide.#

The marketing activities and tools to this point add up to the Cost Of Customer Acquisition

Now the focus shifts to increasing the customers Life Time Value

How Real People Really Buy

Spend several minutes on this slide.#

How Real People Really Buy

Spend several minutes on this slide.#

How Real People Really Buy

Spend several minutes on this slide.#

Everyone goes through this process

Key Takeaway: Compete in the Research Phase

Yes. I downloaded their eBook.Yes. They helped me make a decision.Yes. I bought from them.

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And yes.She saidYes.

Now raise your hand if youve used it while someone was speaking. Dont feel guilty, its not your job to fit to us its our job to fit into how you consume content.#

This new age of marketing is the beginning of something truly remarkable, and your relationship with your customers will never be the same.

Thank You!