Inbound marketing is amazing, isn’t it? You do some blogging, create an offer, post it all over social media and get lead conversions. But what happens after that? Now that you’ve gotten all these leads from your website – how do you turn them into sales? The number one complaint that we get from our customers who are investing in a more basic strategy is that the leads they have, though sales qualified, just don’t seem to be closing. This is the ultimate smarketing challenge and it’s a great example of why I tell people to invest more into their marketing. While this may look a little self-serving (a marketing company telling you to invest more money in marketing), hear me out.
Here are 3 reasons to double your inbound marketing budget.
- Stop the fight between sales and marketing.
Before there was Smarketing, there was Nark-eting. (You love that. I just made it up. Just now.) What’s that? That’s when the sales team and marketing staff all sit in a room with the executives and point fingers at each other, trying to place the blame (nark) on someone else. It’s hard to keep each department accountable when there’s no clear definition of what exactly a sales qualified lead is, or how they’ll be nurtured by either side. Investing more in your marketing process will help marketing qualify leads more easily before the sales team starts working them.
- A shorter sales process.
What happens when you have more marketing budget available? More marketing activities. This includes nurturing, which sends timed e-mails to your leads based on their interests. Once leads download more content, marketing has a much better idea of what they’re interested in, who passes that on to sales, giving them much more insight into that lead.
- A sweeter pipeline.
If your pipeline is looking a little top-heavy, you need to add in nurturing. Nurturing allows you push leads down the funnel. It gives marketing and sales leads at every level so that once the bottom of the funnel leads are closed, they have more leads to close and no one is stuck with a ton of top of the funnel leads that never get followed up on and fall through the cracks.
Rather than taking the knife to your marketing budget at every opportunity for what you or your sales team perceive as poor results, an increased budget will eliminate conflict, make it easier on your sales team by providing more qualified leads and give the company executives a beautiful, well rounded pipeline. Inbound marketing can yield fantastic results, but if you’re not investing enough into the process, you may not know exactly how awesome those results can be. Be sure to investigate your leads closely and determine whether or not it’s time to invest in some deeper nurturing options.