Article first appeared in Linkedin on May 27, 2015.
While your very first company website may have come at marginal cost, online marketing is no longer the hobby of your most IT savvy marketeer. Moreover company owners and managers now want to know what their increasing online marketing budget adds to the company bottom-line. In other words: what is my Return-on-Marketing-Investment?
This is a hard question to answer for many companies in the B2B arena. Lets take a look at the differences between the offline and online world to illustrate the issue.
In the offline world
Ben is a shopkeeper and he knows exactly what to invest in when it comes to the choice of location, the usage of billboards, the shop layout and advertisements. His objective is to increase the number of visitors to his shop. Once potential customers are inside Ben’s shop, he can start selling by addressing the visitor with the highest buying potential first. He can also take the visitor’s appearance into account, what he/she is looking for and whether or not he has seen him/her before.
In the online world
Betty is a B2B marketeer in a medium sized company. She has launched a new website and invests in SEO, SEA and social media to increase the website traffic. While many websites come with a contact form, only around 3% of the visitors take the effort to complete one. Unlike Ben, Betty and her sales colleague can’t see the companies entering their online environment, let alone start converting them into customers.
Increasing your Return-on-Marketing-Investment
Does Betty’s situation sound familiar? From a sales perspective it is pointless to invest in attracting more companies to your website if you cannot follow up with the most interesting ones. Providing your sales team with these insights gives them a window of opportunity to close the deal. A timely follow up is essential, knowing that on average 50% of the deals go to the company that contacts the prospect first (InsideSales.com).
Using the Beelert application, our customers increase their Return-on-Marketing-Investment on a daily basis. With Beelert they see which companies explore their website and what they are looking for, with all the information needed to connect and sell more. They bridge the gap between marketing and sales by making sure that what is spent online, also results in additional revenues.
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