COMMENTS
You are spot-on with your comments regarding ROI. I have a business colleague (web site developer) who has been considering more inbound/pull marketing services for his clients. But he doesn't want to offer these services until he can demonstrate ROI. How are others building their case? What metrics are you using? What is making sense to people unused to inbound thinking?
@Michael. Traffic, Leads, Sales are the metrics you should track and constantly be figuring out how to increase.
I agree with this. I also think there is a need for a much louder conversation on this topic as the changes are not taking place at the rate that they should.
I haven't hired a marketing consultant, but I have done quite a bit of research on them lately. I am finding that there are many so-called "consultants" out there that only offer part of the package. For example, some will offer to take care of your Google AdWords, while others offer to help you choose the right keywords. What is even more disturbing is that the majority do not offer marketing analytics. Why would someone pay for a consultant without this component? Would John Henry keep writing checks to Jonathan Papelbon with no regard to his saves, innings pitched, ERA, or strikeouts? Of course he wouldn't. Then why should a company pay a "marketing consultant" if they cannot show ROI for the services they are providing?
On page 19 of Rebekah's e-paper, there is a nice list of of important ROI tracking metrics:
Response rate and sources; Percent responses becoming leads; Patterns in email click-through rates; Patterns in subscribe/unsubscribe rates; Subscriber comments; Publicity value of published articles; Links from respected websites
A marketing consultant that doesn't show ROI is like the Red Sox without Bill James. And nobody (in New England) wants that!
Bianca--Thanks! This is what I was looking for. Hadn't gotten to page 19, yet!
@Michael - as Pete advised, traffic, leads, & sales are great bottom line metrics.
Because the b2b buying process can be long and involve multiple decision makers and influencers,it's also important to consider relationship building metrics (likely folks will want to get to know you and your offerings before being ready to make a purchase).
These engagement type metrics can also include:
PDF downloads
Article views
Press release views
Case study views/downloads
Number of users who have joined your online community; subscribed to your blogs' feed
Number of positive user ratings for your videos
Average time-on-site
Number of pages viewed
Visits to a specific page
Use of an online feature or function
By watching these, you can see not only how much traffic you get, but where they go and what they do. And gauge the general level of interest in your content and offerings.
@David - you're spot on; thanks for joining the discussion.
@Bianca - great analogy. You're clearly on top of your game!
This is super! Thanks so much. Will really help in further discussions with clients AND business colleagues.
@Michael - Glad the info was helpful.
In fact, we just had a marketing director post a comment on our blog related to the ebook and watching site patterns.
He noted that "
...those who purchase spend a greater percentage of early clicks on the site than abandoners." Noting too that it supports the need to continue to build out content for web sites. See the entire
b2b marketing ebook thread.
<”I am finding that there are many so-called "consultants" out there that only offer part of the package.”>
Bianca,
Your points about consultants are true and valid. But I don't think consultants specializing in one particular area are necessarily a bad thing. There are consultants out there who can provide "the full package." They just tend to market themselves as agencies :) The individual who can do it all can, and will, charge a premium.
A good consultant can perform a specific task, act as an advisor or coach, coordinate, lead and delegate to accomplish a goal, it just depends on your particular needs.
But the one thing all good consultants do is listen, empathize, then act in your best interest as a partner, to solve whatever problem(s) needs solving.
Finding the consultant who is right for you can be frustrating because talent can be hard to find, and expensive when you do find it, but it sounds like you're off to a good start by researching and performing your due diligence.
Good luck!
Wow...great topic. Your point of view for consultants are good. But as i think I don't realize consultants specializing in one particular area are necessarily. There are consultants out there who can provide "the full package."
Stuart
PHR
Currently the customer is running things and the economy is tight. The key is to meet the customer on a level, that makes them feel like you (as a business) care. Excellent example
Hyundai schools us on Relationship Marketing
This indeed is a great resource. Thanks for sharing. Well, as far as ROI is concerned, there are various tools through which a marketing consultant will be able to give the stats, however I've seen that many a times stats are pretty deceiving. isn't it?
Interesting article with many valid points. (and equally informative comments)
One point which I feel needs a little more consideration is
"A team led by internet marketers. Because 92% of B2B buyers use online resources when looking for products and services. Yes, online is critical - of course it is, but this quote seems to assume that that 92% are JUST using online sources. The key here is being joined up. you can have the best website in the world, but if you're let down by shoddy print and off-message customer service / sales teams, it won't get you very far (and vice versa)
I think some online-focused agencies / consultants get can ignore the value of offline, and in-house teams often keep the two too separate. The two should support each other for maximum results all-round.