How can closed loop marketing help my business?
Have you ever heard the familiar quote that says "half the money I spend on advertising is wasted... the trouble is that I don't know which half"? This is a common refrain in the business world and particularly from executive positions.
Why is this the case? There are many reasons and components that go into answering this question but at the top of the list is synchronization. In other words, your marketing and CRM (customer relationship management) systems are not communicating in the most effective manner. Second on this list might be simple knowledge and understanding of how to best configure your current systems or secure and apply new applications to get these two areas of your operation talking. The third component is that closed loop marketing can be very difficult to implement from a technological and experience standpoint.
This process is referred to as closed loop marketing. When applied successfully, closed loop marketing will let you uncover more marketing, advertising and sales data. Why is it important to uncover this additional data? Simple... good marketing must give you the ability to tie any and all sales back to a specific marketing campaign. If this isn't happening, how can you measure your marketing campaigns rate of success? Remember, if you can't measure it, you can't manage it.
Where to start learning more about closed loop marketing? Great question and the answer is simple. Right here. Use the "CTA" or call to action right below to download a free, very detailed guide on closed loop marketing. This guide will get you started understand how to determine your current condition, then isolate the missing elements so you can then start to create your new (or better) closed loop marketing system. By the way, we are pointing out the CTA below because of how important a call to action is in your online marketing campaigns. In fact, you can also download a free guide to creating effective calls to action here.
Here is an important tip to creating your closed loop marketing work. Make your website the central hub for all of your marketing activities. Your social media marketing, email marketing, referral (inbound) links, PPC (paid search), and even offline campaigns should get filtered to your website. Once someone visits your website, you can cookie them and start tracking their activity. This becomes the entry point for your closed loop system. From this point, as each lead progresses through your online system, you will be able to attribute the lead back to a specific marketing channel. In this step by step guide, you will be able to see exactly what this looks like when using the right connections and configurations.
What's next? Once you have the ability to tie each and every lead back to a specific marketing campaign and marketing channel (marketing source), you then need to be able to track the lead's behavior. Which pages are they viewing and how can you determine how their activities can answer some very important marketing questions. As you improve this ability, you will later be able to optimize the path these visitors and leads are on so you can improve both your visitor lead and lead to customer ratios.
Next it’s time to figure out how these visits transformed into sales. Which one of your marketing channels contributed the most customers? Are there ways you can optimize the process for other sources? Closed loop marketing enables you to identify the activities that bring in the most (and least) revenue.
These ideas are just a small sample of what this closed loop marketing instruction guide will provide to your business. There are many other guides, marketing white papers, free reports and step by step instructions available on our free marketing reports page.
