Budget by Tax Credits[/budget]
Inbound Marketing is an effective way to increase lead volume today and sales volume tomorrow. The concept is simple: Attract, Convert, Close and Delight. According to Gleastner Research only 0-18% of visitors are in the Decision (Bottom of Funnel) phase. That leaves 82-100% of visitors in the Awareness (Top of Funnel) and Consideration (Middle of Funnel) phases. Inbound Marketing is about appealing to 100% of visitors and nurturing them through the funnel.
There are several software options available including the industry leaders, HubSpot, Marketo and Eloqua. Odds are your agency has a relationship or partnership with these vendors and can help you transition your campaigns to an inbound strategy.
If you cannot afford Inbound Marketing software on your current budget, hope is not lost. While the software will certainly help you to generate more leads, close more sales and do it in a more time effective manner, it is not the only option. You can do Inbound Marketing on a shoestring budget: here's how.
Phase 1 Preparation
In order to measure the effectiveness of your campaign you need to know how many leads you are currently generating. There are a few key components you need to have in place to do this effectively.
1. Google Analytics
Knowing how many visitors you have and what they are doing on your site will be a big part of comparing past and current results.
Google Analytics is free and easy to install.
2. Thank You Pages
When a visitor fills out a form they should automatically be directed to a thank you page. This page serves two core purposes: it allows you to track conversions with Google Analytics and provide better service.
Keep the page simple with a clear message "Thank you for requesting a Free Demo".
Set expectations "One of our representatives will contact you within 24 hours to book an appointment".
Add links to your social profiles so that leads can learn more about you.
3. Goal Tracking
Now that you have Google Analytics installed and thank you pages in place it is time to setup Goals in Google Analytics.
Click "Admin" at the top of the page. The admin panel consists of three columns. Under the third column "View" select "Goals". Click "New Goal", toggle "Custom" at the bottom of the list and then click "Next Step". Enter a clear description for the goal name ie. Demo Request. Select "Destination" as the type and click "Next Step". Enter the Thank You page URL as detailed by Google.
You have the option to set a value for the goal ie. $10 per conversion. This is optional. Click "Create Goal" and you are officially goal tracking.
Goals can be found in your analytics sidebar menu under "Conversions".
4. Call Tracking
Websites impact call volume. A call tracking number displays a different phone number to visitors according to how they found you (PPC, Organic, Direct, and Referral).
When a visitor calls the number it rings to your main line and they are unaware that a transfer has occurred. This allows you to track how many calls are generated by source.
Start Monitoring Your Results
Now that you have goals setup in Google Analytics and call tracking installed, you are able to determine the overall effectiveness of your website and current campaigns. Begin by reviewing goals and call by source. Take the total volume of leads generated and divide that by your unique visitor totals for the month to determine your lead conversion rate. Follow those leads through the sales cycle and monitor your closing rate so that you can better assess lead quality. Use these numbers as a benchmark so that you can track your success moving forward.
What Should I Do Next?
Now that we have a solid foundation in place we are ready to move onto the first phase of Inbound Marketing: Attract. In part 2 of 5 we will work on attracting more visitors to the site on a limited budget.