Before spending any money on marketing, it’s critical to have clearly defined business goals that can be used to measure the success of your business. Inbound marketing is an investment and like any investment, a certain return is expected. Here are five business goals that can be impacted by inbound marketing.
Number of leads — measures how many people have expressed interest in your product or service by providing some contact information for follow-up. The visibility of your content and the usefulness of your compelling offers directly correlates to the number of new leads you receive.
Number of new customers — an inbound marketing plan that has clearly defined the optimal buyers for your product or service who are converting to sales ready leads will be much easier for a sales team to close, then cold prospects who need a large amount of warming up, or worse, never close at all.
Cost of sales — a warmer lead that flows through a lead nurturing funnel until he is ready to buy is a less expensive sale than one that requires numerous phone calls and face-to-face meetings
Number of retained customers — while retention depends a lot on quality of your product or service and customer care, a customer that made a buying decision instead of being sold will be more forgiving because he’s on board with the overall story and realizes the ultimate value you provide
Revenue — ideally, more customers means more revenue and since inbound marketing helps create buyers for your products or services, revenue will increase when you have implemented an inbound marketing plan that effectively targets the right kind of leads for your business.
While inbound marketing can be easily mapped to your number of leads, remember to identify those other business goals and align them with your inbound marketing goals. Ultimately, you want to create a profitable business where revenues outpace the costs to acquire and service your customers. An effective inbound marketing strategy will enable you to do both.
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What other business goals do you try to align with your inbound marketing plan?
Free Inbound Marketing Plan Template
Creating an inbound marketing plan that aligns to your business goals will help clarify your business objectives and ensure your marketing efforts are in sync.
If you don’t have one already, here is a free template that will help you make sure you have clearly identified and aligned your business objectives and marketing activity.