Inbound Marketing is For Closers: Busting 5 Common Bottom-of-The-Funnel Myths
Misinformed marketers think of inbound marketing as only an effective tool used only for filling the top of the funnel. The fact based on data that will be presented on this blog is that inbound marketing can help with all other areas of the sales funnel down to the bottom.
According to a Hubspot study back in 2014, 68% of customers saw a significant increase in sales revenue after the implementation of marketing automation. Also, 74% of the same customers experienced this increase in revenue over the period of 7 months.
Inbound marketing is definitely about mastering the top of the funnel. It is not only about setting up landing pages and writing blog posts and then generating leads from those assets. In order to be an effective inbound marketer, you will also need to be able to execute proper lead generation to help your sales team to convert those leads into loyal paying customers.
Common Inbound Marketing Myths
I am going to debunk common myths or misconceptions that a lot of marketers have about the “Close” phase of the inbound marketing approach. I will specifically debunk myths about inbound marketing as they directly apply to different types of marketing tactics and channels which marketers use in order to close leads into customers.
Email is dead. Or it is dying. Or it is sick. [BUSTED]
These “[Fill-in-the-Marketing-Tactic] Is Dead” headlines make the news plenty of times. And they do not usually have a strong argument to back it up.
This is definitely the case with the “email is dead” argument.
Data on the chart below says that email marketing is still a very popular medium that marketers use nowadays. More importantly, our clients say that email marketing still works for them. It brings them a lot of business. According to a 2015 Direct Marketing Association study, 66% of consumers made a ton of purchases online as a direct result of email marketing.
Marketing automation is impossible to master [BUSTED]
If there is a will then there is always a way.
Here’s a little bit of motivation for you: According to a marketing research firm – Gartner Research, businesses which use marketing automation see as much as 10% gain in revenue from 6 to 9 months of implementing marketing automation.
Motivation alone will not help you in mastering marketing automation. With the right software and plan in place, you can easily set up lead nurturing campaigns which are all automated. You should also base these campaigns on your goals and buyer personas.
Marketing automation is used only for email. [BUSTED]
While most marketers associate marketing automation with automated email marketing, the reality is that you can apply automation to so many various activities to achieve your marketing goals.
With Infusionsoft marketing automation tool, for example, in addition to automating lead nurturing emails, you can also automate lead scoring, sending follow-up notifications to your sales and marketing teams, and personalizing your website’s content to suit different visitors/customers. You can also use marketing automation on social media channels by creating targeted email lists for important contacts who you monitor on social media and setting up alerts to when one of your contacts mention you or a specific keyword on social media channels.
Personalization is creepy [PLAUSIBLE] and ineffective [BUSTED]
I am not going to bother arguing with one: Personalization, when used poorly, can be very creepy. It is definitely plausible.
But in terms of effectiveness, using “smart” or dynamic content in order to personalize emails — and as well as homepages, landing pages, and blog CTAs (call to action) is definitely a very good move (provided that you are not being creepy at all).
According to a report called the Science of Email Marketing, email marketing click-through rates went up from 5.8% to 7% just simply by including the recipient’s first name.
It is just impossible to know when leads are ready to become customers. [BUSTED]
Understanding who is ready to make a purchase — and when — requires some incredible attention to detail. But it can ultimately be done!
For example, if you knew that one of your leads downloaded your new product guide, and that same lead was checking out your product pricing page and that yesterday, at 11:27 a.m, that same lead opened one of your nurturing emails which you sent them, you could use this information and make a convincing argument that a purchase decision was very near.
And of course, in order to get these types of insights, you need a tool which integrates with your contacts, website, database and your email client, and then send real-time notifications to you which are based on the actions which you want to monitor. Don’t have a CRM Singapore software yet? Contact us now or email us at email@example.com to better understand what is Marketing Automation all about.