“Closed-loop marketing enables us to do better marketing.”
In Chapter 3 of the new Ebook “An Introduction To Closed-Loop Marketing”, SugarBush President and inbound marketing expert Mark Parent outlines some of the key closed-loop marketing technique that marketing consulting firms need to follow in order to improve outcomes for their clients.
Become A Better Marketer By Closing The Loop
According to Parent, closed-loop marketing is one of the most powerful tools at any online marketing consulting firms’ disposal. Not only does it allow marketers to demonstrate the work’s values in real and tangible ways to clients, it also greatly improves the way products and services are marketed to their intended targets.
How Closed-Loop Marketing Helps Attract Higher Quality Leads
Closed-loop marketing helps you become a “smarter marketer”. How? By helping you attract better quality leads that are more likely to lead to a desired outcome, be it a sale or merely an action. In the Ebook, “An Introduction To Closed-Loop Marketing”, you’ll learn how to better understand what marketing activities are generating leads, customers and revenue, so you can double down on what is working – and cut loose what’s not.
“Marketing is about generating revenue. A good marketing team should be like a money generating machine – you put a dollar in and you get two dollars out (or at least $1.25).”
With Closed-Loop Marketing, you can:
1. Focus On The Right Channels & Offers
Closed-loop marketing directs your attention to the most powerful conversion events and channels. By looking at the sources and offers that traditionally brought in new customers for your organization, you can identify the behavior you need to engage in to qualify leads and push them down the sales funnel.
2. Deliver Clearer Results To Clients/Higher-Ups
The data you can gather thanks to closed-loop marketing will also help you build your authority and support the decisions you make in front of the people who matter most – your boss and your clients. It shows that your strategy is driven by evidence and doesn’t rely on abstract theories or assumptions.
3. Gain Insights About Your Target Audience
By gaining a 360-degree view of your sales cycle, you collect insights about the ideal prospect. This information can help you build a target customer persona based on real data about customer demographics and online behavior, along with educated speculation about their personal histories, motivations, and concerns.
4. Shorten Your Sales Cycle
By learning more about your leads and targeting them with smarter communication, you decrease the amount of time that it takes them to convert into customers.
5. Set The Right Goals And Expectations
By knowing precisely what your visitor-to-lead and lead-to-customer conversion rates have been historically, you can set the right goals and expectations in the future.
6. Keep Your Cost Per Lead Low
Closed-loop gives you insights on your most powerful inbound marketing offers and enables you to set realistic goals for both marketing and sales. These two factors are key in determining how you are going to spend your marketing budget and they dictate where your marketing dollars will go into.