When was the last time you played the game of darts with your marketing?
You invest $15k on an ad in an industry trade journal. You pray and hope the phone rings.
You drop another $65k on a booth in another state for an industry trade show. You think Doug and his Sales Team might have some better luck this year than the last 5 years or so you’ve gone to this industry trade show.
They come back with “some” decent leads that generally don’t get “anywhere” or are the wrong types of leads in the first place.
You spend another $20k on printing that fancy pitch deck, service catalog, or promo material; hoping your potential prospects are going to buy from you with your “Sizzle“.
You get desperate and spend another $15k for shits and giggles on a radio ad. You are hoping your phone boards light up and get a few good sales. Crickets.
In one last shot, you throw $15k on a billboard by the biggest highway in your city for a few months. You got a couple more inbound calls but not too sure if it’s from the billboard or not.
Offline Marketing Does Work If….
Traditional marketing in some ways can be considered an old world style mentality, a strategy that resembles a game of darts.
Now, I am not saying traditional marketing does not work. IT DOES.
But if you want to hit more “BullsEyes” you need to stack it congruently with digital marketing. The right marketing strategy that includes digital marketing as a priority can create a multiplier effect for their business that can potentially increase their revenue 2x, 5x, 10x or more.
It just depends on your brand, your budget, and your market.
Digital marketing helps you examine business data within audience segments, helps you understand what their needs are online, identifies their sales purchasing processes, and gives you an understanding of what problems you need to solve through your marketing strategy.
Your digital marketing blueprint, if designed right will attract the “right” industry prospects that will convert eyeballs into real leads through your customer nurturing process until they finally become one of your customers.
It’s a process to make a sale.
That’s what a company I consulted with spent in one year for marketing in the industrial manufacturing industry.
My jaw dropped to the floor. I could not believe it. I was scared to ask the next question.
What was your return on investment (ROI) for each of those marketing channels?
They each took a moment to think about it and agreed not sure.
Each one of their customers gets a catalog with an order, the trade show did bring in those 2-3 customers but not as much as they wanted, and the radio / billboard / print journal advertising gets us a few more leads but not too sure.
New total sales $35k or so.
Silence for a few moments and we decided to go in for the kill.
It’s always a tough question to ask but one that always needs to be addressed.
Do you think your $130,000 marketing budget last year increased your revenue as much as you thought it would? No.
Quit Playing Darts
You see this manufacturer was just playing another round of darts at the same watering hole for the last 30 years. Did we mention that their website wasn’t even mobile friendly.
So how would ilocal SEO allocate a potential marketing budget for this specific client if we were retained by their CMO or the Business Owner directly:
$130,000 Marketing Budget
$15,000+ (1 time) – Responsive Website with product catalog, lead nurturing, website copy and architecturally speaks to your audience. Make it super fast for mobile devices.
$2,500+ (per month) SEO Optimization of new responsive website (see above) which includes sales funnel strategy, traffic strategy, content marketing, & technical SEO ($30k per year).
$1,000+ (per month) Email nurturing campaign with strategy and design along with ad copy & deployment. Integrated lead form on website with customer sales funnel tracks ($12k per year).
$2,500+ (per month) SEM / Social PPC* campaign including landing page design, SEM sales funnel strategy, Ad Copy, campaign management and reporting. Vanity URL optional ($30k media spend to Google, Facebook, and other online advertisers).
$750+ (per month) Tech Tools, reporting, lead dashboards, & call tracking metrics drive data for opportunities. Also included is security, hosting, and miscellaneous costs ($9k per year).
Digital Yearly Budget: $96,000
Just so you know this firm happened to be in business for 30 years and averaged about $5-10 million dollars in sales for the last 10 years or so and own their equipment as well as their land.
The digital budget is $96,000 or 74% of their total marketing budget valued at $130,000.
With about $35k left in the total marketing budget, an allocation to traditional marketing channels that are trackable include TV ads, billboards, industry trade journals, and print materials.
Properly integrating digital tactics like call tracking, analytics, and specific URLs will help increase conversion.
Don’t play darts with your marketing
Be serious with your marketing strategy. Incorporate digital marketing to your overall business strategy to generate more revenue by:
- Increase your number of customers.
- Lower marketing cost of acquiring customers.
- Engage with existing and prospective customers.