Here we are at the end of November. With the end of the calendar year quickly approaching, marketing decision makers are assessing how well they did in 2015 and starting the plan for 2016. At HADM, we’re analyzing how we provided value to our clients in 2015. We focus heavily on ROI for our digital and inbound marketing clients. That means delivering qualified traffic, engagement, conversions, leads and sales. So how did we do in 2015? Here is our tally of measured and converted leads so far:
Real Estate Development Leads: 2783
Professional Service Leads: 879
B2B Manufacturing Leads: 213
Total Leads Generated in 2015: 3761
*We still have a little over a month to go. Internet leads come in every day.
What is a lead?
In the B2B world, a lead can be defined as web form submissions. When a visitor asks a question or downloads a content offer, they are entering your sales process or “funnel.” If a visitor opts-in to your email news or likes your company page on Facebook or LinkedIn, they are opting-in to your marketing process. Each stage is extremely valuable. A sales lead may opt-in to your marketing and remain a prospect even if they don’t convert on the original cycle. And a prospect may graduate into a sales lead once they have found a trigger through email and social media.
How to plan and budget
How do you plan and budget to do more of this in 2016? The first place you should start is with goals and objectives. What is your sales goal? What is your revenue goal? When we look at where we’re going first, we can then draw a map and mission plan of how we will get there. Typically, businesses can plan on spending about 7% to 10% of their revenue on marketing. So, if you want to reach a sales goal of $1MM, you should be budgeting around $70,000 to $100,000 to get to that goal. While this isn’t always a hard, fast rule, it can be useful when planning.
Here is the essential point that most marketers don’t understand: What else are you going to spend your marketing dollars on that will place your product or service directly in front of an audience who is actively searching for it? Tradeshows? Print? Direct Mail? None of these even come close. Digital and Inbound Marketing is the most efficient way to generate qualified traffic, prospects and leads.
So you want to implement Inbound Marketing to generate more prospects and leads in 2016? Awesome. Get in touch to have us help you with that. If you want to run some of your own calculations in order to determine your marketing budget, we can offer you our Digital Marketing Budget that produced all of the leads we generated in 2015.