Posts tagged ‘Inbound Marketing’

If 200K People Retweet Your Promotion And Nobody Becomes A Customer, Is That A Success?

Are You Tracking ROI?

Are You Tracking ROI?

Too many times we see businesses haphazardly throw random campaigns at the wall to see what sticks.  One member of the marketing team is “trying out” a few Facebook ads while a colleague is independently “testing” a viral program on Twitter.  I continue seeing articles written about “Twitter done right” and “viral marketing success stories” and not once has there been any mention of ROI or CPA.  There are too many marketers patting themselves on the back for simply creating buzz.  When did it become acceptable to spend money to get people talking about your giveaway but not your unique selling proposition?

With  any marketing initiative you have to ask, “What are we trying to do?”  This sounds like a silly question but you’d be surprised how many times a “great idea” takes on a life of its own and everyone loses sight of the desired result.  It’s imperative to identify success metrics – they will drive your strategy.

Lisa Barone shared a story earlier this week about a contest giveaway run by a company called Moonfruit celebrating their 10th anniversary.  The numbers were quite high – more than 200,000 posts per week.  Adam Ostrow over at Mashable wrote, “Not surprisingly, this promotion is working. #moonfruit is Twitter’s top trending topic today, beating out the likes of Michael Jackson, #iranelection, and Wimbledon-related tweets.”

This promotion is working?  How are these people measuring success?  Can you imagine approaching your boss and saying, “I’d like to spend $10K+ and use countless company resources so we can be ‘bigger than Michael Jackson’ for a week” on Twitter.  When asked for your ROI estimate you smile wryly and say, “Zero, BUT, hundreds of thousands of people who will never become customers will be talking about the Macbooks we’re giving away”.

This is the equivalent of a restaurant spending $10k for a big neon sign that says, “restrooms open to the public”.

July 17, 2009 at 5:45 pm 3 comments

Do You Know How To Reach Your Target Audience?

As business owners adjust their modus operandi in response to the current unprecedented economic downturn, inbound marketing will rise to the top of their priority list.  If marketing to the disinterested is counterproductive in a booming economy then it’s an even greater waste of time and money today.

The days of “inviting everyone to the party” are behind us.  Mass marketing is dead.  It’s time to welcome the era of advocacy marketing where you position yourself/your company as a trusted partner to customers and prospective customers.  By developing and sharing relevant information and guidance you will attract more qualified inquiries.  Build it and they will come.  Even if the prospect isn’t ready to purchase, they’re likely to recommend your product or service to a friend since you have effectively presented value.

The concept of inbound marketing is fairly new and can be comprised of many different mechanisms such as landing pages, SEO, social networks, and blogging.  There are services out there like HubSpot which aggregates analytics from the various mechanisms, however; it’s not a silver bullet.  Content is still king and you are responsible for developing a consistent message across all media.

New Marketing Labs announced on Tuesday that it acquired the Inbound Marketing Summit which should prove to be a very worthwhile event this year.  You’ll have the opportunity to hear Chris Brogan, David Meerman Scott and Paul Gillin share the latest strategies, tools and best practices to utilize new marketing methods to grow your business.

Bottom Line: Stop blasting to the masses.  Perfect your message (A/B and multivariate testing across all media).  Build community among customers and empower them to be evangelists.

February 20, 2009 at 7:25 pm Leave a comment