Referral Marketing versus Inbound Marketing
Post on 08-May-2015
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DESCRIPTIONGuide on referral marketing and inbound marketing for revenue growth in 2012.
- 1. Buyers Provider Co-MarketingReferrals &Co-SellingCo SellingIndustryAlliancesExpertise Community Partners Leaders InfluenceAdvocateStrategies for Growth in 2012 eBook:Referral Marketing s Inbound MarketingRefe al Ma keting vs. Inbo nd Ma ketingHow-to Build your Referrals & Social Capital to Drive yourLead Demand Engine using Inbound Marketing Social Marketing,Media, Partnerships, and Strategic Alliances. 2011 Ephor Group | 1 (800) 379-9330 | www.ephorgroup.com | 5353 W Alabama Suite 300 | Houston, TX 77056Ephor Groups provides services (GrowthSTEP, Revenue Management, & Management Science) needed toefficiently grow, outperform the competition, attract useful capital, and create wealth for software and service
2. Strategies for Growth in 2012Referral Marketing vs. Inbound MarketingWhen it comes to lead generation, The Internet has shifted the balance ofreferrals are the most cost efficient marketing effectiveness to inbound marketingsales and marketing tactic. (i.e. online social marketing) away fromoutbound marketing which is more effectivethan advertising or teleselling teleselling. 3. Strategies for Growth in 2012Referral Marketing vs. Inbound MarketingLinkedIn drives the most referralsB2B companies using Social Media acquire clients.for B2B outside of client referrals.Client referrals have the highest closerate (typically 1 i 3 or better).t (t i ll in b tt )Strategic alliance partnershipsoutperform sales people whenmanaged.managedNot everyone can sell, but everyonecan ask for feedback and a referral!Average Cost Per Client for B2B Visits > LeadsSolidWorks Case Study:100+ Downloads Available10,000+ Views/Per Month500 Leads P MonthL d Per M th 8. Inbound Marketing Automation Best Practice: BloggingBlogging enables content distribution and feedback (i.e. a mechanism for dialogue).Blogging best practices:1.) Publish routinelyaccording to a blogschedule,2.) Comment on relevantand compelling partners,experts, and others, and3.) include a CTA (call-to-action) in every blog post.Bonus blogging bestpractice. i.e. Make it easyfor if viewers to interact t i t twith polls, comments,social media icons forLike and sharing, etc.. 9. Inbound Marketing Automation Best Practice:Get Found Online.Search Engine Optimization (SEO):How to get found 102 on Google when yourbuyers are searching.SEO best practices:1. Add SEO optimized content (with keywords, keywords in links, alt image keyword links, etc.) regularly by category theme like aIncrease quality of leads when referred by corporate organization chart to your partners within the community. webpages.2. Get others (partners, bloggers, etc.) to link back to your website using keywords. i.e. have others syndicate your contentsyndicatecontent 10. Inbound Marketing Automation Best Practice:Social Media Community Building for ReferralsToday, you would have to run 125 ads to reach 80% of the market versus 1 primetime adon a leading show fifty years ago. But with community marketingago marketingSocial Media Community Building:Get Found Online When Buyers Search 201.Build relationships and then lead generation and revenue will come naturally.Community & relationship building practices:1. Act like a participant and not an NBA owner.2. Make it easy to use, try, buy, engage, discuss. Invite h I i them. IIncent them. A k them what they want.hAsk hhh3. Spend time listening and then take action.4. Always say- thanks for coming, thanks for participating,thanks for your suggestion.4 ways to generate attention:1. Buy (advertising)2. Beg (PR),3. Bug (direct)4. Earn (Inbound by publishing online)The purpose of marketing = Buy, beg, or earn attention that goes viral. David Meerman Scott Webinar. 11. You Must Become a Go-To Resource Expert Post ContentReferencedOnline by industry Offer your buyers andblogspartners: Unique Research Online discussionsMentioned in Informed Opinionsnews News & Trend Analysis publications Multimedia Content Authentic Expert ContributorsLinks are Tweeted Quality Discussion & Interaction People emaillinks to eachother Liked/Shared on FacebookCited at conferences+ eventsSometimes, a single piece of content or just a few, can yield these results but, more often,it takes dozens to hundreds of attempts to become a resource. 12. Discover What People Want By Asking Them! 1. LinkedIn 2. Polls 3. Q&A 4. Surveys 5. Contests LinkedIns Groups are a powerful wayto grow yourLike Facebook, LinkedIn now has a wall network and spread that drives likes and comments (asa message.well as traffic). 13. Partner Blogging + WritingGuest blogging (or contributing content to any type of publisher) is a greatway to build your brand and earn links. 14. The Business Case for A major strategy for growth in 2012 (and 2011 Inbound Marketing for many) is to leverage Marketing Automation for Inbound Marketing versus Advertising as it is Automationmore effective (conversion rates) and more cost effective (i.e. Capital efficient).Did you know that almost 80% ofequity ba qu y backed software and service d so a a dsproviders either implementedMarketing Automation in 2011 or isevaluating for 2012?Benefits of Marketing Automation: I. Generate more leads. II. Lower cost of client acquisition and reduce cost of sales. f ld df l I. 15. The Business Case forEnables lead capture andInbound Marketing Automation opportunity conversion through automated lead nurturing and scoring programs. i Creates brand awareness by promoting the brand using all available web marketing and web, marketing, social media tools. Enables ongoing, both trigger event based (i.e. when a visitor returns generates and automatic email follow-up with a relevant and compelling offer based on which webpages they visited) and routine lead nurturing. Ensures a robust, full scale email marketing, and direct marketing program without having to hire a full-time marketing coordinator run the program. 16. Marketing Automation Marketing Automation Vendor Evaluation Scorecard:Vendor Evaluation &Selection CriteriaKey Questions to Ask Before Demo: References by Industry? Integration for CRM, Financial,Wordpress, eCommerce etc.? App marketplace? Onboarding process? Training andongoing support? User conference? 17. Strategies for Growth in 2012: CreateHR Tech LinkedIn Communitya Referral Community EcosystemAre you searching for ways to convert prospects toclients quicker and more efficiently?Fish where the fishes are currently.For the first time in history, you can find, listen toand interact with prospects online. Bypass adminsand reach buyers directly.Key Success Factor: Be a branded sector leader.Alsbridge Outsourcing Leadership 18. Strategies for Growth In this slow growth economy,there will be bifurcation between leaders and laggards; the best revenue strategies will outperform the competition,and win the war for profitability. Legacy ThinkingRevenue Strategy for 2012 Outcome of New Revenue Management Practice Feet-on-the-Street Direct Sales Multi-tiered Distribution Lower Cost of Client Acquisition Outbound MarketingInbound Marketing Lower Cost of Sales Pipeline Creation Lead Generation Partner GenerationReferral based opportunity introductionsintroductions. Outbound TelemarketingMarket Research Intelligence integrated into ongoing routines. Market to Enterprises or SMB M k tt E t i SMBs Market Niche Verticals M k to Ni h V i l Specialization Improved M i S i li ti = I d Margins. Effective B2B growth strategies require capital efficient programs to reachqualified buyersbuyers. Feet on the street models are legacy thinking. Multiple lead sources are required to be capital efficient. Multi-tiered distribution is key. Referrals from partners, alliances, and communities will generate the majority ofnew clients. 19 19. Strategies for Growth in 2012 Best Practices for 2012 and beyond include: I. Have a lower cost of sales than yourco pet t ocompetition. II.Have a capital efficient pipeline generationand revenue model. III. Utilize Technology:CRM, Social Media, & Marketing Automation II.Implement multi-tiered Sales DistributionCompensation:PRM, Agent, Alliances, Partners, Account Managers, SalesPersonnel III. Leverage a Portfolio of Sources and Mix. IV.Implement Management Science reportingto provide visibility and proactive actions: py pPro-Activity of the 3 Cs: Cash, Clients, Contracts. V. Invest in Asset Management to ensure alower cost of customer acquisition andhigher ROI for spend. 20 20. Revenue Management Marketing is Hard Crowded marketplaceConversion Rate from Lead to Close Too much advertisingg Committee Buy Referral Resource constraintsChannel Buyers require Immediate ROI from aDirect Branded Leader Partners Matter Reputation = Lower cost of sales Use of best practices from both organizationsDirect Create referrals, incent referralsPartners Team Management CRMNew Operations is Key Provide expertise and serviceOriginationOpportunityfrom a Partner Client Must be committed to client outcomesOpportunity MAPPINGAlignmentUpsellUpsellClient Management 21. Marketing Automation Best Practice:Lead Nurturing Checklist:1. Have documented programs and Convert Leads to Opportunities.use them.2. Database management best 400%+ more webpages indexed for companies that blog. practices in place. 100% more inbound links for companies that blog. 3. Phone Qualify the Leads(MEDDIC). 55% more website visitors for companies that blog. 4. Clear handoff for each lead be100% certain on action, nextsteps, closed loop feedback.Inbound Marketing Call-to-Action (CTA) Checklist: g ( )5. Ask questions about the51. Create Urgency individual and the buying2. Use #sprocess, and append companyinfo from 3rd party sources.3. Indicate a specific action 6. Leverage 3rd party content and4. Use images4 reuse available content7. Think like a publisher.5. Make clickable6. Position Position Position7. Use Contrasting Colors PR = Daily FrequencyMarket the hit, not just the news,8.8Test, Test, Test Test Test!dont nee