It's been bounced around ever since computing power was good enough and Microsoft Excel was available enough. The MD or CEO says, "I spent £xxx on marketing... how much did it earn me".
The answer is hard to determine. One of the problems is that Marketers rarely get to Board level. It's Sales and Accountants that seem to get to board level. And they don't understand.
You see, accountants close their books off each month/quarter/year...Done... finished. Now we start again. And sales guys want things simple. If I knock on X number of doors and do Y number of presentations, I should get Z sales.
Simple.
But it isn't. Marketing is accumulative. No brand was instantly worth millions. It took decades of relentless marketing and advertising for Coca Cola to be worth what it is today. Great brands know that Marketing is far more subtle than X spend = Y Sales.
Marketing is what keeps you in the mind's eye of the prospect.
Marketing (and branding!) makes sales easier
Marketing enables you to charge more for a similar service/product.
Marketing is what oils the wheels for success.
Take for instance the lowly eShot. Senior managers love them. We sent 20,000 eshots and got 400 leads and wow are they happy. "See", they say, "Cause... effect.... cut everything else.. do more eshots"...
Ooops.... things start drying up.
"Send more", they say... "get more list", "get better data"..... "it worked before so keep doing it"... "make more outlandish claimes"..... "What do you marketing people know trying to waste the money on fluffy stuff. It's sales that matter... Now do more eShot".
Oh dear!
The thing is that the responses from the eShot are much more likely to come from people who saw your stand at an Expo. And read an article about you in the trade magazine. And has followed your blog for a while. And saw your comments in the LinkedIn Group. And saw your advert in that other trade magazine.
You get the picture. Which one got that person to finally make contact and say, "I got your eShot and I would like to buy....." which triggered your sales-lovin' MD to think nothing else mattered??
Answer: ALL OF THEM
It's a researched fact that companies that execute over the long-term and invest seriously in Inbound Marketing strategy have twice the conversion rate on their website.
Have a look at: http://blog.hubspot.com/2013-inbound-marketing-stats-charts and see. Or, call us at www.oobainteractive.co.uk and see if we can help.
The answer is hard to determine. One of the problems is that Marketers rarely get to Board level. It's Sales and Accountants that seem to get to board level. And they don't understand.
You see, accountants close their books off each month/quarter/year...Done... finished. Now we start again. And sales guys want things simple. If I knock on X number of doors and do Y number of presentations, I should get Z sales.
Simple.
But it isn't. Marketing is accumulative. No brand was instantly worth millions. It took decades of relentless marketing and advertising for Coca Cola to be worth what it is today. Great brands know that Marketing is far more subtle than X spend = Y Sales.
Marketing is what keeps you in the mind's eye of the prospect.
Marketing (and branding!) makes sales easier
Marketing enables you to charge more for a similar service/product.
Marketing is what oils the wheels for success.
Take for instance the lowly eShot. Senior managers love them. We sent 20,000 eshots and got 400 leads and wow are they happy. "See", they say, "Cause... effect.... cut everything else.. do more eshots"...
Ooops.... things start drying up.
"Send more", they say... "get more list", "get better data"..... "it worked before so keep doing it"... "make more outlandish claimes"..... "What do you marketing people know trying to waste the money on fluffy stuff. It's sales that matter... Now do more eShot".
Oh dear!
The thing is that the responses from the eShot are much more likely to come from people who saw your stand at an Expo. And read an article about you in the trade magazine. And has followed your blog for a while. And saw your comments in the LinkedIn Group. And saw your advert in that other trade magazine.
You get the picture. Which one got that person to finally make contact and say, "I got your eShot and I would like to buy....." which triggered your sales-lovin' MD to think nothing else mattered??
Answer: ALL OF THEM
It's a researched fact that companies that execute over the long-term and invest seriously in Inbound Marketing strategy have twice the conversion rate on their website.
Have a look at: http://blog.hubspot.com/2013-inbound-marketing-stats-charts and see. Or, call us at www.oobainteractive.co.uk and see if we can help.
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