MQL vs. SQL: What’s the Difference?

MQL vs. SQL: What’s the Difference?

TL;DR What is an MQL and an SQL?

An MQL (Marketing Qualified Lead) is a reasonably qualified lead who has downloaded a content offer or interacted with your marketing team, but who hasn’t yet entered into your sales funnel. An SQL (Sales Qualified Lead) is a lead your sales team has qualified as a potential customer. SQLs are in your sales funnel, and your team is actively working to move them closer to a deal.

Leads. Everybody wants ’em, but not everyone knows what to do with them once they have them.

That’s where the inbound methodology comes in. Designed to help both marketing and sales teams nurture leads all the way through to a sale in the world of the modern, digital consumer,  the inbound sales process puts a huge focus on MQLs and SQLs.

But what are they, how are they different, and how do you deal with both MQLs and SQLs to boost the ROI of your inbound sales process?

Here’s a breakdown of the MQL vs. SQL question, complete with tips on how to define them and how to use those definitions to optimize your sales and marketing process to close more reliably and more efficiently. Let’s start with the basics.

What’s an MQL?

A marketing qualified lead (MQL) is a site visitor that your marketing team has deemed likely to eventually turn into a sale. MQLs are qualified prospects: they fit your buyer persona.

That said, they’re missing a few qualifications that would make them the perfect fit for your sales team.

Maybe they’re working on a seriously long buyer’s journey. Or, they’re in the right industry, and they have the decision making power, but they don’t have the right budget, or realistic budget expectations yet.

In short, an MQL is a reasonably qualified lead who matches one or more of your buyer personas, but who isn’t quite ready to buy yet.

What’s an SQL?

A sales qualified lead (SQL) is a lead who your sales team has decided is worth pursuing. They’re at the end of the consideration stage and are moving into the decision-making stage of their buyer’s journey where they’ll appreciate sales-focused content and support.

Typically, a sales qualified lead is confirmed after an initial outreach call with someone on your sales team, who can determine how serious the lead is about your product, and how motivated they are to buy.

An SQL is a lead who has intent to buy and who seems interested in your company as a contender to make that purchase.

MQL vs. SQL: What’s the Difference?

The most important difference between MQLs and SQLs is the intent to buy. While there are other factors that will affect whether a lead is categorized as marketing or sales-ready, the biggest tip-off for marketers when deciding whether or not to pass a lead on to sales is the intent to purchase. That’s a surefire sign that they’re ready to talk to sales and tells you that passing them onto sales is the best way to serve that lead.

Since MQLs and SQLs can look different for every industry, and even individual companies, let’s look at a couple of examples of what qualifies an MQL vs. SQL:

First-Time Site Visitor vs. Returning Visitor

A first time visitor is a good example of a potential MQL. They’re just starting the buyer’s journey, and are working on gathering the information that will ultimately help them make a purchasing decision down the road.

A returning visitor, on the other hand, who has been to your site a few times, and is browsing key pages and downloading bottom-of-funnel content offers, is an SQL. They like the information you’re putting out enough to keep coming back. And if they keep coming back, they’re probably ready to talk to your sales team.

Top of Funnel vs. Bottom of Funnel Content Offers

An MQL is a lead who is downloading and converting on top-of-funnel content offers. They’re interested in information that teaches and educates about the general product you sell.

Let’s say you sell cars. An MQL will be downloading content that offers information like, “How to Know When To Buy A New Car,” “Is it Better to Lease, Buy Used, or Buy New,” and “Safest  Sedans of 2019.”

An MQL is someone who is interested in your product — they are a qualified lead, after all — but they're not quite ready to buy yet. Click To Tweet

So, they’re asking those research questions that solve their beginning-of-the-buyer’s-cycle problems. They’re not ready to buy yet, but they’re definitely thinking about it, and they fit your target buyer persona well enough that your marketing team recognizes them as a great potential fit for your company in the future.

An SQL, on the other hand, is going to download bottom-of-the-funnel content offers. With that same car sales example in mind, an SQL will download content that sounds like this: “How to Finance a New Car Purchase,” “5 Steps to Buy A New Car,” and “5 Things to Know Before Purchasing a New Car.”

SQLs are at the bottom of the funnel — they’ve already done the research, they already know they want a car, and they know which car they want. Now, they just have to figure out how to make the purchase.

Just knowing which content offers a lead is downloading can give you great insight into whether they are marketing or sales qualified. And making that distinction is what puts you ahead of the competition in closing new sales efficiently.

Why Differentiating Between MQLs and SQLs is Important

It’s one thing to know the difference between an MQL and an SQL. It’s another thing to know why correctly categorizing each lead is so important.

The difference between an MQL and SQL is crucial in offering up the right content, and the right lead nurturing experience. If a lead has already made up their mind on what product is right for them, you don’t want to be sending them basic content that outlines all of your products — it’s not relevant to their buyer’s journey anymore.

In the same vein, if you have a lead who is still learning what your product does, how it works, and why they might need it, you don’t want to send them on a sales call.

They’re not ready to make a purchasing decision yet, and probably don’t have company approval to make the decision. At this point in their journey, a sales call would seem pushy, and would ultimately be a waste of your sales team’s time.

Correctly identifying whether a lead is marketing or sales qualified has a huge impact on the success of your overall inbound marketing and sales strategy. Knowing whether a lead is an MQL or an SQL tightens up your lead nurturing process to deliver the best possible results with the least amount of work.

When you have a foolproof way to correctly categorize leads, you know exactly what content to deliver, and when. That goes a long way in helping those leads convert, and it saves your marketing and sales teams a lot of wasted time delivering content that wasn’t relevant or reaching out to a lead who wasn’t ready to convert.

Correct qualification of every lead is a great way to increase the ROI of your marketing and sales process and grow your business overall. But to do it, your sales and marketing teams must be aligned. More on that next:

Transitioning a Lead from MQL to SQL

The toughest part of the inbound marketing methodology is arguably the handoff of an MQL to the sales team for qualification as an SQL. Click To Tweet

The best way to handle it is first to get both the sales and marketing teams on the same page.

You have to have clear definitions that specify exactly what an MQL is and what an SQL is, and those definitions have to be the same across departments. For more information on defining your MQLs and SQLs, check out this blog on sales and marketing alignment.

Consistent definitions will make the MQL to SQL handoff a little easier, but there’s still a little work that goes into it. Here are 5 general steps to guide you through the handoff process.

  1. Once your marketing department identifies an MQL, they should be entered into a few lead nurturing campaigns, whether that’s through targeted email marketing campaigns or a casual, helpful marketing outreach campaign.
  2. Ideally, that MQL will continue making qualifying actions — they will download more content offers, they might ask your marketing team a few questions, and they might subscribe for your newsletter.
  3. Once that MQL has taken enough actions that qualify them as an SQL, the marketing team should pass all of the information they have on that lead to the sales team. (A CRM makes this part easy. If you don’t have a CRM yet, this blog can help you figure out what to look for.)
  4. From there, the sales team can reach out, ideally within 24 hours of the lead’s last conversion action, to connect and qualify that lead as an SQL.
  5. It is possible that on their qualifying call, the sales team find the lead is not quite ready for the decision-making stage. At this point, your marketing team should have a set of steps in place to kick that lead back down to an MQL and continue nurturing them until they’re ready to convert again back up to an SQL.

With these five steps, and clear, identifiable definitions of MQLs and SQLs that both sales and marketing agree on, your handoff process should start to go a little more smoothly. It’s a tough process, no matter how you look at it, and the best way to make sure your handoffs are successful is to have regular meetings with both sales and marketing teams to identify any problem areas and implement solutions that fix those issues.

No Matter Your Industry, You Need MQLs and SQLs

It’s easy to get stuck in an MQL vs. SQL mindset. It’s easy to say, “oh, I’m not dealing with that lead, they’re for sales” and vice versa for marketing. And it’s true that for the most part, you want your sales team interacting with the sales leads, and your marketing team interacting with those marketing leads.

But the bottom line is, for any company both MQLS and SQLs are an integral part of the sales pipeline. You can’t have one without the other, so it’s important that your marketing and sales teams work together to develop content and lead nurturing strategies that benefit both MQLs and SQLs.

MQLs, when nurtured properly, become SQLs, who become customers and promoters of your brand.

So, when done right, all of the work you’ve done to develop a quality inbound marketing and sales plan comes full circle to help you close more sales and grow your company.

Identifying MQLs and SQLs isn’t always as easy as it sounds. If you’re struggling to nurture leads through the buyer’s journey, Evenbound can help. Inbound marketing and sales is what we do every day, and we’d love to help you troubleshoot your lead nurturing process to help grow your company. Get in touch to see how we can help, or click the link below to schedule time to chat about your challenges with our president, John Heritage.

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Marketing and Sales Alignment Strategies That Cut Wasted Time and Boost Business Growth

Marketing and Sales Alignment Strategies That Cut Wasted Time and Boost Business Growth

You know that old saying, “work smarter, not harder”? It’s safe to say that’s an idea we can all get behind. No one wants to spend hours of their day working on a project that won’t produce results.

Unfortunately, in the case of many businesses who do not have aligned sales and marketing teams, the concept of working harder on projects that might not ever see the light of day is an everyday reality.

In fact, misalignment between sales and marketing teams has been shown to cost B2B companies 10% or more of their revenue every year.

This SlideShare from The TAS Group states, “lost sales productivity and wasted marketing budget costs companies at least $1 trillion a year.”

Both of those stats offer up compelling arguments for making a change to sales and marketing alignment. Beyond just saving your sales and marketing teams wasted effort and budget though, sales and marketing alignment can actually offer some benefits to your company, delivering pretty impressive returns when implemented properly:

Aligning your sales and marketing teams is one perfect example of working smarter, not harder.  When your sales and marketing teams are aligned, everyone does less work to obtain a higher quantity of better, more targeted clients. Then, you can allocate all of that additional time and energy into inbound marketing and sales strategies that you know will help your company generate revenue and grow.

So, how do you get there?

Sure, sales and marketing alignment sounds nice, but can you actually make it happen, and how much work will it take?

Honestly, it depends on your company.

If you already have both sales and marketing teams onsite, you can get started by just getting everyone in the same room every week or so. If you’re a larger company with sales and marketing teams that work remotely or on different campuses, it might take a bit more effort. And if your company doesn’t really have a marketing team, you could have a still longer road ahead of you. (Or, you can hire a marketing team to help you out. More info on that here.)

No matter where you are, aligning your sales and marketing teams will take work. But with a potential return of 208% more revenue, it should feel like the work is worth it. Click To Tweet

If you’re interested in aligning your marketing and sales teams to boost revenue and cut out wasted time, we support you. In fact, we’re going to give you six sales and marketing alignment strategies to help you do it. Check ’em out:

via GIPHY

Communicate

We’ve said it before, and we’ll say it again: communication will always be the key to successful marketing and sales alignment. The first and best way to get your sales and marketing teams on the first page is to get them in the same room, chatting about their wins and challenges.

Too often, it feels like sales and marketing are pitted against each other. Sales isn’t happy about the quality of leads marketing is sending over, and marketing feels frustrated that sales didn’t follow up with all of the leads they’re sending over.

Getting your two teams in the same room is the first step to getting them to work together. Once you know what everyone is frustrated about, and also what they’re cool with, you can start making a little bit of headway towards alignment.

Consider Cross-Departmental Training or Shadowing

One great marketing and sales alignment strategy is to put each team in the others’ shoes for a day or even a week. When they have the opportunity to see how the other team works, what their day looks like, and what challenges they face regularly, they’ll be able to function together more efficiently.

We get that this is an easy way to disrupt your regular business flow, so start slow. Take one team member at a time, and have them shadow someone from the other team for an afternoon. Make sure the team members you choose are both excited about the potential benefits that alignment can provide, and you’ll find that both parties will learn something from the experience.

When the afternoon is up, your salesperson can report back to their team what they learned, and the marketing person can their team what struggles the sales team is having that they could help with.  

Encourage Sales Input on Content Development

According to Forbes, 60% of B2B content never gets used. Whether the sales team doesn’t feel like it fits their individual client’s pain points, or they don’t even know it exists, sales input is an invaluable resource when it comes to content development.

Your sales team has an intimate, one-on-one relationship with each buyer. They speak to them personally and they understand their specific, unique challenges and goals for the future. This alone should make them your marketing team’s number one resource for content development.  

If you’re not sure how to implement more sales input on marketing content development without seriously slowing down your publishing schedule, start by having the sales team take a look at your content calendar. (You do have a content calendar, right?)

They can tell you which content they’ll really be able to use, and offer a few key points to include for each upcoming post that will help you speak specifically to your target buyer’s challenges and goals.  

Work Together To Establish A Common Language

Marketing and sales haven’t historically worked together all that much, especially in more traditional industries like manufacturing. Traditionally, marketing works to create brand awareness, get the word out there, and make sure everyone knows what your company has to offer. In that older business model, sales either take the leads that come in or (more likely) they go around looking for (read: cold calling) those perfect leads themselves.

This disjointed approach to sales and marketing as separate entities has fostered two different languages for both teams. They have different definitions of leads, they don’t have the same understanding of what makes a good lead, and they have fundamentally different goals.

Sales and marketing alignment strategies start by working to establish a common language that makes sense to both teams. Click To TweetWith that set in place, your marketing team can work to bring in the leads your sales team actually wants, and your sales team can focus their efforts on selling, rather than cold-calling.

To establish a common language that works for both teams, sales and marketing have to come up with the same definitions for these three things:

  • What A Lead Is
  • How You Score Leads
  • A Quality Service Level Agreement

What A Lead Is

It’s important that your sales and marketing teams both understand what makes a lead a good lead. And as you probably know, there are two types of leads: Marketing Qualified Leads (MQLs), and Sales Qualified Leads (SQLs). It’s possible that you’ve even defined these in the past.

But have your sales and marketing teams defined them together?

Both marketing and sales should offer input on the definitions of MQLs and SQLs, so that both teams understand what qualifications are necessary for both lead types. One clear definition, for both teams, will help with the lead handoff process, and it will help both teams understand which leads and prospects need what specific service or lead nurturing content.

With a solid foundation in place, everyone can move forward more confidently towards a tight alignment between sales and marketing that cuts out wasted time and boosts revenue.

How You Score Leads

Traditionally, the sales team has developed a process for determining which leads might be more valuable to your company than others. This process is called lead scoring.

If your goal is to get sales and marketing teams aligned for better business growth, it’s important to have your marketing team in on the lead scoring calculation. They need to know what makes a lead most attractive to sales, and why.

With that information, marketing can determine which leads could use more nurturing through the marketing process, and they can better streamline their efforts to influence target buyers in the markets that offer the highest return. By bringing the marketing team into the lead scoring conversation, you help them understand what to look for in a quality lead that shows they are likely to close.

Service Level Agreements (SLAs)

One of the biggest killers of marketing sales alignment is unbalanced reporting and goals. Too often, the sales team feels like they’re under the microscope to close sales, and the marketing team feels that the sales team isn’t acting on all of the leads they’re passing along. A service level agreement, (SLA) is the solution to this reporting imbalance.

A Service Level Agreement is a sort of contract that helps clear up some of this misdirected pressure, while still holding both teams accountable to goals that further your company’s overall revenue and growth goals. For example, with a quality SLA, your marketing team may be responsible for delivering a certain number of quality leads each month. Then, your sales team may be responsible for converting a certain percentage of those quality leads each month.

This agreement makes it clear what each team is accountable for, while still framing it in the light of one overall company goal — to produce more revenue and long-lasting clients for the company by converting highly qualified leads.

Every company’s SLA will look a little different. What’s important is that you get the sales and marketing teams together to agree on an SLA that’s fair and contributes to your company’s growth goals. When both teams understand what they’re accountable for, and that accountability feels fair to both sides, you’ll get a lot more out of everyone.

Leverage Sales Enablement Tools

It’s easy to forget that the sales team can benefit from inbound methodology tools as much as your marketing team can. Many of your favorite marketing platforms and CRMs are designed to help your sales team as much as they are your marketing team.

Encourage your sales team to use tools like email sequences and CRMs that implement lead scoring systems for you. The information they put in the CRM, and the data they generate helps them make better selling decisions, and it offers valuable information for the marketing team to move forward and optimize with as well.

When your sales team is comfortable with enablement tools, it’s also easier for your them to reach out to marketing and ask for content that will help them close deals.

Case studies, whitepapers, and ebooks about your product or service are all assets that are traditionally created by marketing. When sales is empowered to ask specifically for the content they know will help them close deals, marketing can focus their efforts on just the content that sales knows will be powerful and impactful to your buyer personas.

And again, that’s an effort that cuts down on wasted time, while still promoting the targeted lead nurturing tasks that will help your company grow.

Keep a Common Goal in Mind

Finally, one of the hands-down best sales and marketing alignment strategies is to set a common goal. Even though sales and marketing do different things and have different processes, they’re both on the same team. When they’re both working towards the same goal, it’s so much easier to see that they’re on the same team. Make that overarching goal clear to both teams, and you’ll see the results that marketing and sales alignment can deliver.

The more closely your sales and marketing teams are aligned, the more efficient your company will be in identifying qualified leads and closing deals. And when you close deals efficiently, you work smarter, and you grow.

If you’re looking for more sales and marketing alignment strategies, tools, or tricks, we’d love to help. As a digital marketing agency, we often align with B2B sales teams to promote overall company growth, and we also train companies with existing sales and marketing teams how to align for better results. To learn more about what we do, get in touch.

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What is Inbound Sales?

What is Inbound Sales?

As an inbound marketing firm, we’ve explained inbound marketing to death. And for good reason — we’ve seen firsthand the exceptional ROI and growth that a quality inbound marketing strategy can deliver. That said, something we haven’t touched on quite as much, but that’s equally as important is the concept of inbound sales.

Inbound sales functions on the same general methodology of inbound marketing.

 

What is Inbound Sales?

In its best form, inbound sales is the process of solving the pain points of qualified leads who are actively seeking out your company’s product or services. An inbound salesperson’s task is to arm prospects with all the information they need to make an educated, thoughtful decision on what they’ll buy in the end.

Inbound sales professionals offer helpful, personalized service based on each prospect’s unique needs. They adapt their sales process to fit the buyer’s journey, and to solve each prospect’s individual pain points.

What Inbound Sales Is Not:

At its core, inbound sales should always be helpful to your prospects. Click To TweetWhen done properly, your prospects will close because they feel that your product or service truly solves their challenges and because they’ve had a great experience with your company. Inbound sales is not:

  • Pushy cold calls
  • Generic sales pitches
  • Sketchy sales tactics that force prospects to “buy right now, or lose out!”
  • Scheduling a demo whether your prospect is ready for it or not, just to fill a quota
  • Selling to purchased contact lists
  • Anything you would consider to be spammy

Inbound sales aims to be the opposite of all things spammy. Inbound sales is personalized, specific, and focuses on building trust and solving prospect pain points. Click To Tweet

If you’re new to the idea of inbound sales, or you’re exploring how it works, here’s some insight into the methodology:

The Inbound Sales Methodology

The inbound sales methodology functions on the same basic buyer’s journey that inbound marketing bases its actions on. Here’s how HubSpot visualizes the inbound sales buyer’s journey:

hubspot-inbound-sales-methodology

Just like inbound marketing, inbound sales focuses on three key stages of the buyer’s journey: awareness, consideration, and the decision-making stage. Inbound sales actions correspond with each of these stages, just as inbound marketing actions do. If you’re curious about implementing inbound sales tactics to improve conversion rates and overall company growth for your company, here’s how each stage of the inbound sales buyer’s journey works, and what actions you should take during each of the four stages:

#1 Identify

If you’re doing inbound marketing right, your website is getting all kinds of leads every month. The first step in the inbound sales process is identifying which of those leads seem like the best fits for your company. You’ll need to look to see which leads are active in the buying cycle: active leads are downloading your content, interacting with your chatbot, and requesting quotes or demos.

When you’ve identified the leads that seem like the best fit for your company, do your research. Personalization is a cornerstone of the inbound methodology, and it's what makes inbound sales so effective. Click To Tweet The more you know about your prospect’s previous experiences with your company and the pain points they’re looking to solve, the more effective you’ll be as an inbound salesperson.

The identify stage is a good place to implement triggered events technology so you can immediately see which prospects are diving further into your site and available content, and who seem to have an active interest in what you’re offering. The more quickly you can reach out — even while a prospect is actively surfing your site — the more positive response you’re likely to see.

Inbound Sales Actions to Take During the Identify Stage:

  • Identify qualified prospects
  • Define those qualified prospects according to their buyer personas
  • Research prospect companies, and familiarize yourself with your specific prospect’s role in that company.
  • Implement triggered technology to alert you every time a qualified prospect takes an action on your website

#2 Connect

Now that you know a little about your prospect, it’s time to get in touch. Remember that the point of inbound isn’t to push products, but rather to offer assistance. To offer the best assistance, you have to know who you’re talking to.

If you didn’t do it in the Identify stage, now is the time to define your prospect according to your buyer personas. When you understand what persona your prospect fits into, as well as where they are in the buyer’s journey, you can easily determine which content to send that prospect and through which medium.

For example, if a prospect has downloaded a few content offers that speak to awareness-stage concerns, you know that to keep them moving through the buyer’s journey, you’ll need to send them something that’s related to the consideration stage. When you also know that the prospect falls into a younger, millennial-age buyer persona, you’ll know that they’ll respond best to an email or chat message.

Every persona is different — some prefer email, some prefer phone calls, and still others prefer to interface via video or even chatbot. To get the best response rate, you need to know who you’re talking to, so you can decide how best to talk to them.

Inbound Sales Actions to Take During the Connect Stage:

  • Understand the prospect’s place in the buyer’s journey
  • Determine the best content for that prospect
  • Double-check their buyer persona to make sure you connect through the right medium
  • Connect by sending over relevant content, and asking specific questions that speak to that prospect’s challenges, interests, and goals.

#3 Explore

Once you’ve made contact with a prospect, it’s time to explore their goals for working with your company. In most cases, people aren’t motivated to make a change unless something isn’t working well, or they’d like to improve some aspect of their business or personal life. The explore stage is your time to talk through that situation with your prospect.

Start by asking what challenges they’re having. You might even ask what drew them to your product or service in particular. When you have a clear picture of what their challenges are, and how those challenges are keeping their company from reaching their goals, you can offer up information they might be interested in that helps solve some of those challenges.

This is also the time to talk about budget and timeline. Be sure to offer up plans that respect that budget, and that can meet their timeline.

At this point in the buyer’s journey (the consideration stage), your prospect has likely narrowed their options down to two or three companies. Specificity and personalization are what will set you apart.  

Make sure you’re impressing the key points that make your company stand out, in a way that relates to your prospect’s specific challenges. You shouldn’t bad-mouth competitors, but do take time to emphasize the key aspects of your company that put you above the rest, especially if those key aspects go a long way in solving that prospect’s unique challenges.

Inbound Sales Actions to Take During the Explore Stage:

  • Explore any challenges the prospect is experiencing
  • Determine how those challenges affect the prospect’s goals
  • Discuss budget
  • Offer plans and solutions that fit the prospect’s specific challenges and goals.

#4 Advise

Now you know exactly what your prospect needs. Hopefully, you also have a clear picture of how your product is uniquely situated to solve their pain points better than anything else on the market.

At this point, as a salesperson, this is when you want to close. But what you want and what your prospect wants aren’t always the same thing. If they’re ready to buy, they’ll let you know. If they’re not, here’s where you can go.

Start by recapping your history with them. This helps them realize that you’re still hearing them. You’re listening to their challenges and searching for customized solutions that will help them move past those challenges, and towards their goals.

Offer solutions that fit their budget and their timeline. Inbound sales is focused on providing the perfect, personalized solution to every prospect. Hiding costs or agreeing to a timeline you know your team can’t meet doesn’t deliver on that perfect solution. Instead, when your prospect gives you their ideal deadline, work backward to establish when you need a signed contract to be able to meet that deadline.

From there, make sure you’ve talked to all of the key decision makers. If you’re still waiting on a final go-ahead, and you feel like this prospect is really quite promising, ask them what you can do to help them move towards a final decision.

And finally, when in doubt, consult your buyer personas. Those should give you an idea of how much contact you should be making. You don’t want to seem pushy, but you also don’t want to forgo a follow-up if it could make the difference between a win and a loss.

Inbound Sales Actions to Take During the Advise Stage

  • Summarize your history with the prospect. Talk about what you’ve learned about their company, what their challenges are, and how those challenges are holding the company back from achieving their goals.
  • Offer customized solutions. Personalization is at the heart of successful inbound sales. How will your product help this person or this company achieve their unique goals?
  • Confirm budget, contacts, and timeline. When you’re on the same page with your prospect, it’s easier to feel out that perfect time to close.

Implementing Inbound Sales

Implementing inbound sales does ask for a big shift from the traditional, “always be closing” mentality. It’s a new sales methodology, for a new age of consumers. Today’s consumers don’t want to be sold to, demoed, or pushed to make a decision. If instead, you offer them the information they need to make an educated decision and provide your assistance as a trusted advisor, you’re likely to win their business based on the personalized, quality customer service that you’re delivering.

How Inbound Sales Helps You Sell Better

If you’re having trouble imagining how inbound sales tactics can help you sell better, look at it this way: when you use the inbound sales methodology of identifying, connecting, exploring, and advising, you’re spending much less time selling to prospects who are unlikely to convert in the first place.

By first identifying the prospects that are most qualified for your product or service, you’re making your job much easier. You only need to connect with the prospects who make a good fit for what you offer. That saves you a lot of time and effort pitching to prospects who weren’t good fits in the first place. By implementing the inbound sales methodology, you and your sales team can sell more effectively, and with a much better close rate than traditional “always be closing” outbound sales tactics.

Why You Need Inbound Marketing And Inbound Sales

Inbound marketing can get you a long way. Done properly, it delivers serious leads who are highly qualified and motivated to purchase your product. But, if leads have an awesome experience with your company for the entire marketing cycle, and then are immediately hit with old-school pushy sales tactics, you’re going to lose prospects.

Implementing inbound sales is just one of many ways you can help align your marketing and sales teams to provide a seamless, customer-focused experience for your potential clients. The smoother and more enjoyable their buyer’s journey, the more likely they are to buy from and stick with you.

TLDR: What is Inbound Sales, and How Can You Implement it?

Inbound sales is a sales methodology that addressed new consumer purchasing trends by offering quality assistance, information, and personalized solutions over pushy, traditional “always be closing” sales methods.

The best way to implement inbound sales is to look at how you can best help your prospects at every stage of the buyer’s journey. From awareness to consideration to the decision-making stage, the more meaningful, personalized assistance you offer, the more likely a prospect is to close with you. For more information on inbound sales, be sure to check out HubSpot’s breakdown of the Inbound Sales Methodology, or get in touch with us, a HubSpot Gold Certified Agency Partner, for hands-on help implementing inbound sales tactics.

Inbound is kind of our thing. If you’re new to any aspect of inbound, from marketing to sales, to HubSpot, we’re happy to help. Schedule time for a chat with John, or check out our Smartass Guide to Inbound Marketing for fun-loving intro that just might teach you something.

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Email Workflow Best Practices that Convert Leads and Close Sales

Email Workflow Best Practices that Convert Leads and Close Sales

Email workflows are an excellent tool for pulling qualified leads through your sales cycle. When you set up an email workflow, you already know who you’re talking to, you have an idea of what they’re looking for, and you have a solution to their greatest pain points. One of the best lead nurturing tools in an inbound marketer’s toolbox, email workflows allow you to speak directly to qualified leads and offer them helpful, relevant content that draws them closer to making a purchasing decision.

Since email workflows are so integral to the digital marketing process, it’s important that your email marketing strategy is rock solid. Too many emails, and you risk alienating customers. Too few emails, and you won’t see any progress on the length of your sales cycle.

We’re going to look at a few key email workflow best practices you should be implementing convert leads and close sales as best possible. But before we do, let’s start with the two most important rules of the email workflow:

The Golden Rule of Email Workflows

The golden rule of email marketing, whether you’re creating a workflow or just sending out an email to your subscribers is this: Don’t be annoying.

Seriously. I know this sounds simple, but it’s more tempting than you’d think. The, “oh, I’ll just send out one more email” feels are real. Try not to give in to them, and for the love of everything, please don’t spam people.

Try to limit your emailing to just two or three emails per contact a week, tops.

 

And if someone unsubscribes, let them. Embrace your inner Shania Twain and remember you’re better of without them. Do not. Repeat. Do Not. Continue to email them.

The only thing that will do is earn you angry people who are definitely no longer customers, and who now have a bad taste in their mouth about your company.

Not sure if you’re emailing too much? Imagine you were receiving all of the emails you are sending. If you’d be frustrated at getting yet another email from a peppy sales rep who doesn’t actually know that much about your company, it’s probably time to lay off.

The Silver Rule of Email Workflows

We’re not sure if “silver rule” is a thing, but if it is, always be offering something, would be it for email workflows.

If you take just one thing away from this blog, it should be to always offer something in every workflow email you send.

Whether it’s a relevant content offer, a chance to meet with a sales rep, or a free trial of your software, every email you send, especially in a workflow, should offer up something that keeps your prospective clients moving through your sales cycle.

For more email marketing no-no’s, check out 8 Bad Email Marketing Habits Killing Your List.

Email Workflow Best Practices

With those two very important rules of email workflows in mind, let’s move on to some of the ultimate email workflow best practices that can help you convert leads and close sales:

Set a Goal for your Workflow

Before can get started developing a workflow, you have to know what your goal for the workflow is. Do you want to:

  • Set up a phone call?
  • Encourage another content offer download?
  • Get a lead started on a free trial?

Every workflow has an end goal. Before you can write your content, and even decide who you’re talking to, you have to have that goal in mind.

Define Your Qualified Lead

Most email workflows are triggered by an action that indicates a site visitor is a qualified lead. You need to define what that action is, and what a qualified lead looks like before you can launch that workflow effectively.

Let’s say the goal of your workflow is to set up a call or meeting with a prospect. Actions that might qualify a lead for this workflow could be:

  • They’ve downloaded multiple content offers that speak to consideration stage questions
  • They’re halfway through their free trial of your product
  • They’ve already talked to your marketing department
  • They’ve visited specific pages of your website multiple times, and for consistent periods of time.

Each of these actions tells you that the lead is already slightly invested in your company. They might like your content, they’re possibly enjoying aspects of your product, and they could even already be familiar with your marketing team. When they’re invested in what you’re offering, and know a little bit about you and your company, they’re a qualified lead. You just have to decide what that looks like. For more help defining your qualified leads, check out this blog on email marketing segmentation.

When you’ve defined what a qualified lead means to you for this specific workflow, you can get to actually writing and building out the email workflow directly for that qualified lead.

Identify Relevant Content

Now you know why you’re writing an email workflow, and you know who to write your workflow to. Let’s figure out what you’ll write about.

A traditional email workflow is about three emails long. You can always make them longer if you need, and if a lead converts right away, the workflow will bail on them.

I find that the easiest way to start writing an email workflow is to work backward. Look first at what you’re offering in each email before you start writing the content. (You are offering the lead something in every email, right? If not, see above for the Silver Rule of Email Workflows.)

For example, you know that your last email is going to offer up your schedule for your lead to set up a time to chat. The content of that email should lead up to that last call-to-action, and could look something like this:

Hi John,

I hope you’ve found our Complete Guide to Opening Coconuts helpful! If you have any questions about the guide please don’t hesitate to reach out.

I know you’ve had a great deal of interest in coconut cracking lately, and I think our Extreme Coconut Machete might make the perfect tool to help improve efficiency at your coconut water bar. Would you like to learn a little more about it?

To set up a time for a brief chat with me, please feel free to add a meeting to my schedule.

I look forward to connecting with you soon!

 

All the best,

Toucan Sam
VP of Sales
EZ-Open Coconuts, Inc

Every aspect of this email is leading up to that final call-to-action. Let’s take a closer look at how this workflow is working specifically to convert that lead.

Keep Emails Short & Include Questions

The above email from Toucan Sam is an excellent example of a workflow that is short and to the point, but that still entices a lead to continue moving through the sales cycle.

The email opened with a line that reminded the prospect why Sam was emailing.

Then, it offered a bit of helpful information that was specific to the prospect. John has a coconut water bar, and Sam’s product could help him improve his business’ efficiency.

In just two lines it’s immediately clear why Sam’s product would be helpful to John, and how he can learn more about it. Including a link to a calendar is especially useful, because the prospect can easily schedule a time to meet that is convenient for both parties. Click To Tweet

It’s important to keep workflow emails short — definitely no longer than a page, but preferably no more than a few very short, one to two sentence paragraphs.

Remember: Design Counts

It’s also good to think about the design of your workflow emails.

They should be relatively minimalistic — you don’t want too many pictures or too much information distracting your prospect from the message — but they should include basic things like your logo and possibly your social media buttons.

The email should be clean and clearly laid out so the prospect can scan through quickly, without missing too much of your message. Put the most important messaging at the very beginning and very end of the email, where people are sure to see it. Bolding and bullet-pointing key callouts can also help draw attention to the content you want prospects to see most.

Personalize Email Workflows — Both To and From

A great email workflow best practice to remember is not only to personalize emails for the receiver but also from you. Users are more likely to at least open an email if it looks like it's from a real person, rather than from a company. Click To Tweet And getting prospects to open your email is half the battle!

It is also good to personalize emails for the recipient, as well. Most email workflow services, like HubSpot or MailChimp, will auto-fill names and company names, along with a bit of other information for you. It’s a simple step that can make a big difference, so don’t forget!

Send Test Emails

Always, always, send test emails. And open them. And click all of the links.

You’d be amazed at how easy it is to forget to add in a link or to accidentally link to the wrong page.

You’ve spent a lot of time finessing your email, and you only get one shot to send it out. Make sure everything works the way it should before you hit that send button.

Send First Workflow Email Within 24 Hours of Qualifying Action

Set your workflows to go out as soon as possible after a lead completes a qualifying action. If they sign up for your newsletter, make sure your follow-up email goes out as immediately as possible.

If your sales team is working to follow-up after potential clients download a specific offer, try to have that first workflow email go out within an hour of their download. That way, your company is still fresh on the prospect’s mind and they’re more likely to respond.  

Give People Time Between Emails

You want your first email to go out quickly, but that’s it. The other emails should take a little bit of time, in respect for the Golden Rule (see the top of this blog if you’re skimming). Don’t send any more than one email in a 24 hour period. And if you can wait a day or two between emails, that’s even better.

Every industry and every company will see different results from different tactics, so you will have to do a bit of testing to see how often and how quickly to send your follow-up emails for best results.

That said, a good rule of thumb is the less spammy, the better. You want to remain top-of-mind, but not at the expense of your lead’s experience with your company.

Make It Easy to Unsubscribe

As we mentioned in the Golden Rule at the very top of this blog, your goal with an email workflow is not to trap an unwitting consumer. Rather, you’re working to offer up relevant, helpful content that solves their pain points, and shows them of your authority in your industry. If they don’t want your help, you have to allow them to unsubscribe.

Not only is this ethical, but it’s better for you. If you have a bunch of dud leads who qualified accidentally, or who aren’t quite ready for your services, it’s better to let them go than have them skew your email metrics to show that your messages aren’t performing.

All of that goes to say — make it easy to unsubscribe.

You don’t want to waste your time on unqualified prospects, and they don’t want to hear what you have to say. Let them go.

Don’t Use Attachments

This last point is truly an email workflow best practice: don’t attach content to your workflow emails. Nearly every company tells employees not to open emails with attachments from strangers, for the very real reason that it could be a hacker or a virus. When you attach your content offers and additional relevant content to emails before someone has asked for it, you seem fishy. (Phishy? See what we did there? 😉)

Instead, offer links to a landing page where prospects can download your content offers or digital links to content offer PDFs. This will help increase your open rate, and likely your response rate, too. You always want to be offering something, in every workflow email, but it has to seem legit if you want people to open it.

Whew. That was a lot.

There’s a lot going on with email workflows. They seem like such simple pieces of content, but there’s a great deal of work that goes into them, from deciding what you’ll offer to crafting a series of emails that will work to pull your ideal prospects all the way through the sales cycle. Hopefully, these email workflow best practices will help you put together a workflow that converts leads and closes sales.

Still struggling with your email workflows? We get it. Let us know how we can help!

From cleaning up your contacts to developing workflow content that speaks directly to your target audience we’re email workflow pros and we’d love to help you beef up your email marketing strategy for overall business growth.

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Marketing ROI 101: Setting Goals and Calculating Your Marketing Budget

Marketing ROI 101: Setting Goals and Calculating Your Marketing Budget

If you’re like any other marketing department we’ve ever talked to, your boss wants to know exactly how much your efforts are contributing to the company’s overall sales. You probably also know that proving that number isn’t as easy or as straightforward as you’d like.

Too often, companies put pressure on the marketing department to track every single outbound marketing dollar spent to a lead generated or a sale closed. And because marketing does things like create brand awareness and foster positive relationships, that can be difficult to quantify. That’s why we use an ROI Model to calculate the budget and ROI of the marketing campaigns we create.

When you take a good hard look at your marketing investment as a whole, and you have clear goals for your marketing department, it’s actually not impossible to calculate your marketing ROI. And we’re going to show you how to do it, using an ROI Model. First, definitions!

What is Marketing ROI?

All spelled out, Marketing ROI stands for Marketing Return on Investment. That is, how much money you make off of your marketing campaigns, minus how much those marketing campaigns cost you. Check out an in-depth definition of ROI in this Digital Marketing Glossary.

What is an ROI Model?

If you want the textbook answer, “a Return on Investment Model is a comprehensive, customizable model that allows you to input your project assumptions and quickly understand potential returns.”

In English, an ROI Model is a method of calculating not only how much you need to spend to generate a certain amount of income, but also how much traffic, how many qualified leads, and how many sales you need to close on each month to reach that goal.

Your marketing ROI Model is a simple, 4-bullet point statement that outlines your company’s business goals, while also outlining specific goals for each your sales and marketing teams.

Your marketing ROI Model shows everyone exactly how your sales and marketing teams are going to complete your company’s overall growth goal. It clarifies expectation for both teams and helps you calculate exactly how much you need to spend on your marketing budget to achieve your projected goals.

Your superiors want to get the word out about your company, but they also want specific, measurable reports about how your marketing efforts are contributing to the bottom line. We get that.

This ROI Model will help you figure it out. It’s what we use to help our clients measure ROI and determine a marketing budget that can deliver legitimate growth. This is how it works, in 4 simple steps.  

Step 1: Know Your Customer Lifetime Value and the Value of New Sales

How much does the average new client deliver your company in sales? 

This number is important because you can use it to figure out how much you’re spending to market to that person, relative to how much you’re making on them. That’s your marketing ROI right there. So, before you go any further, figure out on average how much revenue you make from a new client. Then figure out how much you make in the lifetime of your relationship with a customer.

When you know how much revenue you generate from each client, you can figure out a reasonable amount to spend on your marketing budget.

Step 2: Set Your Goals

Goal setting is the first step to actually developing a solid marketing budget. And when we talk about goal setting, we’re talking about the whole company.

What are your company’s goals for the next year? Do you want to grow by 10%? Do you want to close a certain number of leads each month?

It’s important to set these goals and make sure everyone in your company understands them. This way, everyone can work toward this singular goal, together. With an overarching company goal set, the rest of your sales and marketing team goals will fall into place.

Step 3: Use A Digital Marketing ROI Model

Alright. Now you know how much a new client makes you, and how much you need to make in the next year or month. Let’s get to the Digital Marketing ROI Model.

Ours functions like a funnel, starting with the traffic your site sees per month and moving down from there to determine the number of closed sales you need to reach your monthly revenue goal. Let’s use an example to help clarify this.

Acme Corp is a manufacturer of anvils, rockets, explosives, and magnets. Last year, Acme Corp made 22 million dollars, which was flat from the year before. Let’s take a look at the ROI model we’d use to calculate the best marketing budget for their goals.

First, we need to know what their goals are, and how much revenue a sale brings to their company:

Goals: Acme Corp wants to grow their company by 5-10% this year.

Value of a New Sale: $25,000

Average Customer Value: $200,000

With this information, we can figure out how much income Acme Corp needs to generate each month to reach that 5-10% growth goal. From there, we can work backward to determine exactly how much site traffic we need to drive to achieve that goal.

Given Acme Corp’s goals, we’ve determined that they need to generate $375,000 in new revenue a month.

With an average new client sale price of $25,000, that means they need to close on 15 new sales each month.

Now, Acme Corp has a strong sales team, who works to close on an average of 5% of their marketing qualified leads. If Acme Corp closes on 5% of their qualified leads a month, they need 300 leads to reach that 15 sales per month goal.

Let’s work back one more step to figure out how much traffic Acme Corp needs to bring in 300 leads per month.

They have an average traffic conversion rate of 3%.

That means they need to bring in 10,000 site visitors per month. Believe it or not, we’ve just figured out Acme Corp’s entire Marketing ROI Model. Here’s what it looks like all condensed into 4 simple bullets.Acme Corp ROI ModelIt might be only 4 bullet points, but it’s still a lot of info. We’ve just built out Acme Corp’s ROI Model to grow their business by 5-10% in the next year. This ROI model accounts not only for their marketing budget but also for their monthly marketing and sales goals.

The Acme Corp marketing team needs to bring in 10,000 visitors per month, and they need to convert 3% of those visitors into qualified leads.

The sales team is responsible for converting 5% of those leads into sales, to ultimately deliver on Acme Corp’s growth goal of 15 new sales or $375,000 in new revenue per month.

Finally, and perhaps most importantly for the purpose of this blog, Acme Corp is spending just 5% of their total gross income from new sales on marketing. That adds up to $18,750 per month or $225,000 a year.

To some, that might sound like a lot. It’s important to know that this is a fairly conservative marketing budget estimate.

Many companies, especially those with aggressive marketing campaigns dedicated to increasing brand awareness, spend anywhere between 12 and 20 percent of gross revenue on marketing efforts. Even a standard marketing budget for a company that's well placed in its market tends to spend between 6 and 12 percent of gross revenue on marketing. Click To Tweet

In the grand scheme of things, 5% isn’t actually all that much to spend on your marketing budget, but that’s where your marketing strategy comes in, bringing us to the very last step:

Step 4: Invest Your Marketing Budget Wisely

You’ve completed your Marketing ROI Model. You know how much traffic you need to pull in, and how many leads you need to convert to meet your growth goal, and you know exactly how much you want to spend to do it.

It’s important to remember that while this ROI model can give you a good picture of how much you should be spending to get the right results, you have to be investing in the right marketing tactics to see actual results.

Where you allocate your marketing budget is what will make or break your ROI Model. Your marketing and sales teams have their goals, but if they don’t have the tools and training necessary to meet those goals, you won’t see your ROI Model realized, and you’ll probably end up spending more than the budget you allocated to reach your growth goal.

If you don’t have landing pages, are working with a website from 1995, or aren’t strategically targeting your paid advertising campaigns, you’re probably not going to see the results you want from what you’re spending on marketing.

That’s where the inbound marketing methodology and things like keyword research, buyer personas, and content calendars come in.

If you've calculated your marketing budget carefully using an ROI model like the one above, but aren't seeing the results you planned for, there's probably a breakdown in your marketing strategy somewhere. Click To TweetTalking to a professional can help.

We hope this blog helps your sales and marketing teams align to reach your company’s growth goals, and gives you a good starting spot for determining a realistic marketing budget.

Marketing ROI, marketing budgets, and especially inbound marketing strategies are kind of our jam, so if you have any questions about anything we covered in this blog, please don’t hesitate to get in touch!

And if you want to grow your company by 20% in the next year, we can help. Growth marketing is kind of our thing, so if you’re interested, let’s chat.

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23 Digital Marketing Terms You’ve Always Wanted Explained

23 Digital Marketing Terms You’ve Always Wanted Explained

Digital marketing has a language of its own. It doesn’t matter if you’re a digital marketing guru or new to the ‘biz, this is an industry that’s full of constant change, and that means new words, acronyms, and theories all.the.time. We’ve created this list of 23 digital marketing terms to define some of the terms we get asked about the most often. Take a look for a refresher, or to help you get started if you’re just getting into the whole digital marketing thing:

Digital Marketing General Terms

We know you know what these mean, but here’s a refresher just in case.

CRM – Customer Relationship Management Software

This is software that companies use to track the interactions they have with each customer. Every CRM functions a little bit differently, but you’ve probably heard of big names like Salesforce and HubSpot. Essentially, this software helps you keep track of each client, lead, and potential client.

Your CRM should help you catalog each conversation you have with a client, and it should keep you informed of your client and leads’ activity on your website. Have they spent a lot of time on particular pages of your website? Are there key content offers they’ve downloaded? Maybe they’ve interacted with a chatbot on your site.

A quality CRM keeps track of all of the interactions your clients and potential clients have with your website, your marketing team, and your sales team, helping you provide the best service possible. Learn more about CRMs here.

ROI – Return on Investment

If you’re in business, you’ve heard the term ROI before. You know that old saying, “you have to spend money to make money.”? Your ROI, or your return on investment, is essentially that calculation: how much money you make by spending money on a marketing campaign.

ROI is typically expressed as a ratio or a percentage, and it’s calculated by subtracting the cost of a marketing campaign from its net profit, then dividing that number by the original campaign cost. A visual formula for ROI looks like this:

ROI = (Profit - Marketing Campaign Cost) / Marketing Campaign Cost Click To Tweet

Let’s say you spent $1 on a marketing campaign. (Bear with me, we’re going for easy math here.) Let’s also say that campaign earned you $5 in sales. For every $1 spent on marketing, you earn $5 in sales. Your ROI ratio would be 5:1.

For my percentage people, in this example, you’re spending about 20% of your revenue on marketing. That’s fairly average. You’re making money, but you’re not doing anything crazy or exceptional. An extraordinary ROI is closer to a 10:1 ratio.

Optimization

“Optimization” is undoubtedly a digital marketing buzzword. In the digital marketing industry, optimization means applying learned metrics and analytics to a marketing campaign to improve it.

For example, let’s say you’ve been blogging for a year now. You write blogs that focus on three categories: relevant industry news, informational how-to blog posts, and company updates.

When you look at your marketing analytics, you see that your company update blogs have no traction on social media, are the least read pages on your website, and have a very high bounce rate.

You might “optimize” your blogging strategy by minimizing the number of company update blogs you write, or by taking out that blog category altogether.

You’re using metrics and analytics to improve or “optimize” your blogging campaign. Thus, you are using optimization to increase your blog’s potential to convert visitors and leads.

Lead Generation

Lead generation is another digital marketing term that’s used all.the.time. The term lead generation means bringing new, qualified potential customers into your marketing and sales cycle.

Typically, lead generation is used in the context of describing a digital marketing effort. For example, blogging and deploying pay-per-click advertising campaigns are both digital marketing efforts that work to increase lead generation. That is, they work to draw more qualified potential buyers (um: leads) into your website and sales cycle.

B2B – Business to Business

This is an acronym we use constantly but rarely explain. It simply means a business that sells to other businesses, rather than to consumers.

Good examples include industrial manufacturers or companies that sell a service (like digital marketing companies).

A manufacturer who produces lug nuts is considered a B2B. They develop a very small part of an automobile, and they sell that part to another manufacturer, like Ford or Dodge, who sells to the consumer.

It’s a little trickier to market B2B companies than B2C companies because their ideal buyer isn’t a person, it’s a company. Some digital marketing companies (like us) have taken this challenge to heart, and focus the majority of their time and effort on implementing and optimizing campaigns for B2Bs.

B2C  – Business to Consumer

These are more traditional companies who sell directly to consumers. We mentioned above Ford and Dodge — these are manufacturers who sell to a consumer, rather than another manufacturer. More common examples would be grocery stores and online clothing retailers.

Digital Marketing Terms: Inbound Marketing

Alright, now that we’ve covered some general digital marketing terms, let’s look at a few that are specific to the inbound marketing side of digital marketing. If you don’t know what inbound marketing is, read this first.

Lead Nurturing

Lead nurturing is a key concept behind the inbound marketing methodology. When you nurture a lead, you’re interacting with them in a positive way that leaves a good impression of your company. The more of these lead nurturing interactions you have, the further you draw that lead through the sales cycle. Stellar lead nurturing shortens the length of the sales cycle and delivers qualified customers more quickly.

Relevant email workflows and timely, helpful follow-ups are examples of lead nurturing actions.

Check out our blog, What is Lead Nurturing?, for more info on this one.

SEO – Search Engine Optimization

Search engine optimization is the process of changing and improving your website for the best possible search engine ranking. Writing content that addresses specific keywords, implementing a mobile-responsive website design, and ensuring your website has a fast load time are all examples of search engine optimization tactics.

Anything you do to make your website function better and provide a more user-friendly, informative experience for web browsers is considered SEO.

CTA – Call To Action

A call to action is a tool you use on your website, or in your digital advertising campaigns to entice consumers to take an action. In an ad, the call to action might be to click over to your website. On your website, a call to action might ask a visitor to sign up for your newsletter.

Typically, CTAs take the form of a button. When a consumer presses the button and takes the action to visit your site, download your content offer, or sign up for your newsletter, they’ve completed a conversion, and have moved one step further through the sales cycle.

Landing Page

A landing page is any page on your website where a visitor lands after clicking over from somewhere else. Typically, when marketers refer to landing pages, they’re talking about a page on your website that has been designed to capture a visitor’s contact information.

For example, if you’re running a digital advertising campaign, your ads will take anyone who clicks on the ad offer to a specific page that contains a form and a call-to-action that will capture a motivated visitor’s contact information.

Learn more about what a landing page is, and how to make yours work.

Buyer Persona

A buyer persona is a fictitious characterization of your ideal buyer.

Let’s say you’re a home builder that works in the higher market of custom home building and design. One of your buyer personas might be a doctor in his late 50s who is married and whose children are moving out of the house to pursue a college education.

To create a full buyer persona for this doctor, you would look at the pain points, challenges, and goals of this person, and write a very specific narrative for him to help guide your marketing decisions and target that person in the future.

Content Marketing

Content marketing is a marketing strategy that’s most often associated with the inbound marketing methodology. Any content you create that functions to be helpful to your ideal client or buyer persona is a part of your content marketing strategy.

People most often think of a blog when they think of content marketing. And this is true: your blog is an integral part of your content marketing strategy, as it offers up helpful information that’s targeted to keywords you know your ideal clients is searching.

That said, a blog isn’t the only part of a content marketing strategy. Your content marketing strategy includes any content that works to draw in new, qualified leads and potential clients. That means video development, social media marketing, guest blogging, and even email newsletters are considered aspects of a content marketing strategy.

Digital Marketing Terms: Outbound Marketing

In case you haven’t heard, outbound marketing is making a comeback. When done properly, outbound marketing functions to draw in qualified leads to your website quickly and efficiently. Unfortunately, outbound marketing is also chock full of acronyms and digital marketing terms that you might want explained. Here are a few of the most common outbound marketing terms that benefit from explanation:

KPI – Key Performance Indicator

KPIs are essentially all of the metrics you see results for from digital advertising campaigns. When an ad campaign ends, and Facebook or Google shows you the results of your campaign, most of the highlighted numbers in that report — like bounce rate, click through rate, cost per click, cost per impression, etc — are key performance indicators. KPIs can be any type of analytic, and in fact, most of the rest of the digital marketing terms in this section are key performance indicators.

CPC – Cost Per Click

How much you pay each time someone clicks on your digital advertisement. This is a KPI, and you’ll see it on reports for every digital ad campaign your company runs. Typically, you’re looking to run ads that have a low cost-per-click, unless your ads are highly targeted. If you’re showing ads to only a very small group of highly-qualified consumers, you might be willing to pay a little more for their clicks.

CTR – Click Through Rate

Click through rate is another metric that indicates how many of the people who saw your social media post or digital advertisement actually clicked on the link, and made it over to your site or the intended landing page.

Click through rate isn’t just for digital advertising. It’s also used in other digital marketing applications, like email marketing. An email’s click through rate refers to how many recipients clicked on a link in the email, and made it to a web page or took a desired action.

CPI – Cost Per Impression

One impression represents one time your ad was displayed on a website. Your cost per impression is how much you pay each time your ad is displayed. This metric doesn’t tell you anything about whether or not a user interacted with the ad, but it can give you an idea of how much reach the ad had. Impressions can help build brand recognition by getting your name out there, even if no one clicks on your ad. If you’re trying to build brand awareness, this is an important KPI.

CPA – Cost Per Acquisition

CPA or cost per acquisition is a metric that tells you how much it costs to acquire one customer. Cost per acquisition is calculated for advertising campaigns by dividing the total cost of your campaign by the number of conversions.

This is an important, high-level metric. CPA can tell you what the ROI of an advertising campaign is, and will show you if your ads are returning enough value. If your CPA is very high, you might consider changing or tweaking your ad targeting tactics.

Bounce Rate

A bounce rate is the number of people who immediately navigate away from your website or landing page after clicking on an ad or a link. A high bounce rate means that your visitors are probably not finding what they’re looking for on your site.

You can lower bounce rates by making sure your landing pages are specific to each ad you create, and by ensuring that your website and blog is full of informational content that makes sense for your industry, product, or service.

Remarketing

Ever shopped for something online, only to find that the next time you went to Facebook you saw hundreds of ads for that same product popping up left and right? That’s remarketing at its finest. Remarketing is an ad tactic that’s used to draw in customers who have already been to your site, but who have not yet made a purchase.

Digital Marketing Growth Terms

We’ve covered most of the FAQ terms that you hear when you talk about digital marketing. But there’s still one category left that we’d like to cover: digital marketing growth terms. Growth marketing is new, but it’s slowly increasing in popularity. Unfortunately, like most marketing methods, it has a few weird terms that you wouldn’t hear anywhere else. We’re going to try and explain them:

HubSpot

HubSpot is a CRM software, and company. The company acts as a resource for marketing teams and companies interested in the inbound marketing methodology. The HubSpot CRM is a powerful software that integrates your marketing and sales’ teams efforts to help you provide the best possible service to new leads and existing clients.

We wrote a whole blog called What is HubSpot? if you want to know more.

Marketing and Sales Alignment

This is one of those buzzwords (buzzphrases?) that marketers use constantly. But what does it mean?Marketing and sales alignment refers to the process of getting your marketing and sales teams to communicate and work towards one common goal, instead of functioning as silos. Click To Tweet Digital marketing and growth agencies make it their business to train clients on how to align sales and marketing teams for an effective, efficient sales cycle that helps companies grow.

ABM – Account Based Marketing

Account based marketing is a marketing strategy used primarily by B2B companies. It was developed to solve the specific challenge that B2B’s face trying to market to companies, rather than individual people

ABM focuses a B2B’s marketing efforts on a clearly defined set of target accounts — your ideal accounts, the types of companies you’d like to work with all the time — usually in the same one or two markets. ABM relies on highly personalized marketing campaigns that are created to speak directly to those ideal accounts’ specific pain points and challenges.  

Sales Enablement

At its most basic level, sales enablement is the process of empowering sales teams with content, guidance, and training to market and sell more effectively. Click To TweetThe term means different things to different industries, but for digital marketing, people usually refer to sales enablement when they talk about equipping sales teams with traditional marketing training.

For a long time, sales teams focused on making sales and making sales alone. Today, we’re realizing that companies can be more effective as a whole when sales reps also know how to nurture leads and provide helpful content to prospective customers. Training and empowering sales teams to sell, market, and nurture leads is what we call sales enablement.

We hope this little vocab list helps clear up any digital marketing term confusion! If you have any more questions about digital marketing terms or digital marketing in general, we’d love to help. Get in touch whenever is convenient for you.

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