John Wanamaker, United States merchant and pioneer in marketing, once said, “Half the money I spend on advertising is wasted; the trouble is I don’t know which half.” About a century after he spoke those words, some marketers are still feeling his pain. With all of the technology at our disposal, we have what it takes to “close-the-loop” between marketing and revenue, but most people do not know how to take advantage of it. Closed-loop marketing is the tool that will help you close that gap and create a more effective marketing campaign.
Implementing a successful closed-loop marketing system will help you highlight your Brand’s strengths and weaknesses. This knowledge will provide you with a tremendous amount of growth potential. Before you get started, make sure you fully understand the four main steps to closed-loop marketing. Missing one of these steps can cause a break in your loop, which can cause visitors not to convert to customers, or even become repeat visitors to your website. Be sure to hit each mark in your closed-loop marketing system to generate the results your Brand deserves.
Here are the four main steps a visitor takes in a closed-loop marketing system:
- Visitor arrives on your website: This is the most essential step to closed-loop marketing. Why? Because how can you generate leads and customers when they don’t know who you are and what you do? Having new visitors on your website is crucial to building Brand awareness and generating more leads. Therefore, make your website the central hub for all your marketing efforts by having all your channels (social media, SEO, email marketing, etc.) refer back to your website. Once visitors are on your website, you can begin tracking their activity and analyzing data.
- Visitor browses your website: After visitors are on your website, you can track their activity and pinpoint their interests. You will begin to see trends throughout your channels, and find what is producing results for your Brand and what isn’t. This knowledge will allow you to optimize the channels that are not generating revenue. Once you gather data, analyze what you find and see how you can convert more visitors to leads.
- Visitor converts to lead: A visitor will be converted into a lead when they fill out a form with their contact information in exchange for an offer from your organization. Once you begin to grow your lead database, you can start analyzing the data you have on them and begin to nurture them by sending them more information on the topics they were interested in. Lead nurturing allows you to move your leads around the sales cycle and eventually convert them to customers.
- Lead becomes your customer: Once your visitor converts to a lead and then to a customer, you want to backtrack their path. Find out how you built your relationship with them and what activities moved them to becoming a customer. Knowing how these visits transformed into revenue for your organization will help you continue to generate success for your Brand.
Closed-loop marketing is a key tool to generate new leads and customers. Be sure you are always closing the loop by not leaving your visitor hanging on your website. By closing the loop and pushing your visitors through the sales cycle, you will be able to generate more revenue and strengthen you closed-loop marketing campaign.
For more information on closed-loop marketing, download our free eBook, Improving Your Sales Cycle Through Closed-Loop Marketing. Our eBook will help you strengthen your closed-loop marketing strategy by giving insights on how to build, implement, and analyze the data you receive to help improve your marketing strategies.
Strengthen your closed-loop marketing by converting visitors to leads and leads to customers. Let’s touch base and I will put the Hult Team's experience to work for you. We can connect at 309-673-8191 or firstname.lastname@example.org, and together, we can create a better focus on your Brand.