One question: What would you do if you noticed that your business received a donation equal to 20% of your annual revenue?
Well, if Henry Ford said that "if you had a single dollar, you would invest in advertising," imagine what the marketing department would do with a few billion more in your budget ...
The mind of the successful entrepreneur is tireless and understands that investing in order to keep the business sound and growing is essential.
And to increase revenue, you need to leverage Sales - unless you have received a generous donation as I have speculated above.
Thus, to boost sales of a business, Marketing assumes strategic role.
Here I will not delve into the theoretical aspect, even though there are already excellent explanatory content here on the blog about What is Marketing?.
I often say that Marketing is the oxygen of the Sales team. And it is not news that without sales, there is no business that thrives.
Now, how is something as vital as the marketing of a business managed to the point of impacting it expressively?
After all, marketing has matured, has been adapting more and more to the new scenarios, and if it can not promote real and measurable growth for your sales team, what is its meaning?
The Consolidation of Digital Marketing
I must confess that I adore GoPro videos. I am passionate about photography and I admire the overproduction that they can deliver in videos of a few minutes.
The fact is that it is not known how many people bought a GoPro because of these productions.
Of course, there is a concern with image work and all brand awareness gained through these actions, but what I seek to address here goes beyond Branding - that is, brand management for the value associated with it.
A manager needs more than beautiful arts and great productions. The golden word is a result. And that, the Digital marketing understands very well because every action can and should be measured.
Subjective concepts do not enter into what has been recognized as Performance Marketing or Performance Marketing.
To learn more about the concepts associated with Digital marketing and its main strategies, there are complete articles and very clear here in the blog.
My focus here is not to go deeper into the basics of digital marketing, but rather to answer one of the most frequently asked questions over the past few years, managing digital marketing campaigns for companies of all sizes.
When the Entrepreneur understands that he needs to invest in Digital Marketing, he basically sees 2 fronts: Outbound Marketing and Inbound Marketing. Which one is the best?
When Should One Invest In Inbound Marketing?
O Inbound Marketing is to attract customers instead of "chasing after them".
Dynamics sounds like something perfect. You identify the needs of your audience, deliver value content and attract your attention to the point of creating a relationship.
When the lead - that is, that visitor who left your email in your contacts list - is fed by your emails / content and starts to engage with your brand, the chances of becoming a customer become even greater.
At the moment this customer is buying, bingo! Inbound worked, at least the beginning of it.
After the purchase, your customer should be enchanted by your product / service to the point of becoming an evangelizer of your brand and continue to be nurtured with your after-sales content.
After all, the tendency is for him to spontaneously gain new stakeholders for his brand. The famous "word of mouth" has been and continues to be powerful.
The question is: does this work in practice?
The good news is yes, of course! Recalling that we are considering a well-made strategy involving:
- Creation of Landing Pages (ie capture pages and sales pages)
- Content marketing to produce rich articles and materials that will be offered in exchange for emails,
- Tool to store your email list
- Segmentation of emails through digital lures by niche
- Email Automation
- Writing leads and email nutrition leads
- paid ads on social networks to boost page access
- Sales Automation
These are just some of the key actions related to Inbound, the format of the strategy will depend on the objectives and characteristics of each business.
The bad news is that this does not happen right away, it will be necessary to measure many tests to identify which content has the best conversion rate, and require a significant amount of money to implement Inbound efficiently.
This type of strategy is ideal for more mature businesses, with full clarity on the opportunities and expectations of return in the medium and long term.
Not all businesses can invest steadily and massively in a long-term strategy.
When to Invest in Outbound Marketing?
Outbound preaches the inverse logic. Instead of indirectly attracting your potential customer, you need to highlight your brand by focusing on direct sales.
Capturing the attention of the public has become increasingly difficult and expensive, this is nothing new for anyone.
Some actions have gained fame of "villains". After all, most are not fans of commercials, interruptions, ads; are practices usually considered inconvenient or even invasive.
Yes, there is that aspect.
But what about when a person is effectively interested and looking for an ad?
Having your advertisement in a time of customer need is more than assertive, it's potentially lucrative.
Investing in ads is a highly efficient strategy when done in the right way, with the proper segmentation and at the best possible time, along with the appropriate channels.
Let's consider the Google Ads. If you work with furniture remodeling and advertise your website for that keyword, the chances of getting qualified contacts when a user searches for furniture remodeling on Google - and finding your brand at the top of the results - is sky-high.
Do you really think that potential customer would be bothered by the ad? Of course not, he was just looking for it.
The disadvantage of this strategy is that your traffic, ie the hits to your site from the campaign, will be canceled when the credits run out. That is, your site receives qualified visitors only while you're paying for them.
And this, of course, is not encouraging. If there is any problem with your campaign account, for example, your business will be stalled if it depends on that alone.
This is why investing on both fronts attract customers through the Internet is crucial. You do not have to be a marketer to know that you never "lay eggs in one basket".
Diversification can be one of the healthiest factors in marketing campaigns.
In what strategy do you invest then: Outbound or Inbound?
It may sound cliché, but the truth is that one must invest in both.
For more access in the short term, invest in Outbound; to increase your long-term profitability, invest in Inbound.
If you have to choose just one of them, consider the stage of your business.
To warm sales, and especially in younger deals, Outbound is critical. As the brand gains muscle, Inbound is very pertinent.
The more solid your Marketing is, the more consistent - and predictable - the contacts your Sales team will receive.
What will be the impact on your business? There is no magic formula. The return is proportional to the investment spent. Who or what will dictate went right or wrong? Well, the answer will come from something irrefutable: the numbers!