Sticking with our Super Bowl theme, today we thought we would show you how an inbound marketing pro would spend the same $4 million dollars that advertisers plan to spend on a single Super Bowl ad.
While it’s too late to help them, it’s not too late to share an alternative inbound marketing approach with all of you.
Marketing is a marathon and not a sprint. Expecting a single event to propel your business to new heights is unrealistic. What you should be considering is the creation of a marketing system or a Marketing Machine that sustains itself over time, allowing your business to scale and grow according to your plan.
Here's what we would do with $4 million dollars.
The first step is to return $2 million to your bottom line because you can run a 12-month campaign that delivers many more leads for 50% of the cost. Nice huh?
Next you have to invest some of that money into a comprehensive messaging strategy and marketing plan. Strategy before tactics, right? Who are you talking to? What are their pains? How does your product/service satisfy those pains? How do you do it remarkably?
Instead of one 30 second ad, you would get 12 months worth of marketing, creating a more sustainable, repeatable, scalable marketing effort that delivers leads every day, instead of just for a few days in early February.
To match the projected website traffic from a single Super Bowl ad, you need to drive 92,000 people a month to your website. To do that, you need to be seen by 9,920,000 people each month. That level of visibility would take about half of our $2 million dollar marketing budget.
First create a series of viral videos, with compelling user contests to engage your target market.
Each month, four videos would launch, one per week, with a contest theme for the month. Social media and content sharing sites become the focus of your placement effort along with banner ads and other internet media placements designed specifically for your target market. All with offers for educational or entertaining content driving visitors back to your site. This delivers a very targeted effort, as opposed to the shotgun approach of a Super Bowl ad.
The other $1,000,000 would be spent on the website design and interactivity of the visitor’s experience, including lead nurturing and email marketing which would continue outreach to visitors even after they leave your new site. This would provide ongoing touchpoints getting prospective customers to return and connect with your company. This effort would cross-sell, up-sell and add on sales over the course of the year at a very low cost-per-lead.
This content marketing effort actually doubles or even triples your conversion rate from 1% to 3% which means we need only a third as much traffic or we deliver triple the leads. With the numbers above, 92,000 site visitors a month delivers roughly 920 leads a month. The concerted conversion strategy takes that to 2,760 leads per month on your website. At the end of the year you have 33,120 or three times as much as the Super Bowl. Your cost-per-lead is an amazingly low $60.
To drive the cost-per-lead down even further, consider the sharing that would take place. The extension of your reach, facilitated by everyone who found your contests, videos and content interesting enough to pass along. Say each person is good for roughly 20 additional shares. At the numbers discussed above that adds a 20x lift to the reach numbers. Now, at 66,000 leads you are looking at cost per lead of about $30.
This is a fun, hypothetical example and we made a lot of assumptions to prove our point. In case you missed the points - marketing is a science, not an art and, as a science, you have to look at the numbers associated with your tactics to make sure they perform. Finally, advertising is a flawed media.
Despite the number of people watching the game, most just aren't paying attention to each and every commerical. The media itself is interuptive and contrary to the new buyer behavior. Just watch your own behavior. Are you going to buy a new Buick, bag of Dorritos, or Sodastream soda maker just because it was advertised during the Super Bowl? No!
Start Today Tip - Inbound marketing provides an alternative. Consider an inbound marketing approach for your lead generation efforts in 2013.
Square 2 Marketing - Leading The Reality Marketing Revolution!
Posted By Author Mike Lieberman, CEO and Chief Revenue Scientist
Mike is the CEO and Chief Revenue Scientist at Square 2. He is passionate about helping people turn their ordinary businesses into businesses people talk about. For more than 25 years, Mike has been working hand-in-hand with CEOs and marketing and sales executives to help them create strategic revenue growth plans, compelling marketing strategies and remarkable sales processes that shorten the sales cycle and increase close rates.