Sadly, few are those who remember that digital marketing is a complex web of efforts, a piece of the puzzle contributing to a company’s ROI (Return On Investment). I am here to remind you that customer acquisition must be the sole goal of a business’ online presence, and brand awareness is just a valuable bonus.
Start-ups focused on the wrong objective are wasting much-needed money, and are unable to track campaigns correctly. To avoid such predicaments, one must tie every single lead, customer, and amount back to the campaign that triggered them. Fortunately, we have Closed Loop Marketing (CLM).
1. Analytics – Visitor arrives on site
Certainly, one of your “attraction” technics succeeded or the visitor wouldn’t have landed on your website’s main page. Was it the poll on Facebook? The e-mailing campaign? The search terms? Marketing analytics software are here to pin-point your visitor’s original referral source.
2. Market planning – Visitor browses website
Now to phase two: retaining attention, which is also measured by marketing analytics software. Is the visitor bouncing from page to page? Is he taking his time to read the content? Is he responding to my call of action?
3. Execution – Visitor converts into a lead
Start-ups that don’t have digital strategies tend to break the loop at this point. A “visitor” has no impact on your ROI, whereas a “lead” might increase it. In marketing a lead is a potential sales contact that expresses an interest in your goods or services. Big stress on the word “contact”. To obtain contact information you may encourage filling out estimation forms or creating accounts for example.
4. Feedback – Lead becomes a customer
At his stage analyse how each costumer interacted with your digital content along his purchasing journey.
Closing the loop helps you minimize your costs per lead by learning about your target audience, determine your best campaigns and channels, allows you to shorten your sales cycle, and to set the right expectations regarding social media interactions.
If you are an entrepreneur and still not fully convinced, I highly recommend adopting this approach for a month, and observe the tangible results by yourself.