Creating an Inbound Marketing Budget for 2015
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Kuno Creative inbound marketing experts provide a breakdown of what you should be investing in for success in 2015, and where and how you should be allocating your dollars.
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Creating an Inbound Marketing Budget for 2015
- 2. Introductions Tim Kiedrowski | Client Relations Manager Why is this webinar important? ● Need a budget to succeed ● How to develop a budget ● Examples ● Free reference materials
- 3. Agenda ● Introductions ● Google Updates Impacting Content Strategy ● Content Creation Strategy & Budgets ● Demand Generation Strategy & Budgets ● Overall Marketing Budgets & Examples
- 4. A Few Other Folks On Today’s Webinar Lisa Gulasy | Brand Journalist Role... ● Develops and Executes Content Strategy ● Writes Blogs and Premium Content ● Oversees other Content Creation Did You Know? Kuno creates more than 150 pieces of content each month!
- 5. A Few Other Folks On Today’s Webinar Chris Knipper | Management Role... ● Build Inbound Teams ● Manage Demand Generation Budgets ● Analyze Results ● Report on ROI
- 6. A Few Other Folks On Today’s Webinar Justine Timoteo | Strategist Role... ● Serves as High-Level Advisor ● Develops SEO, Content Marketing and Lead Generating Strategies Clients Include Healthcare Manufacturers, Medical Device Companies, Non-Profit Organizations and SaaS Companies
- 7. A Look Back on 2013 - 2014 Google Algorithm Changed → HummingBird ● Think of why someone would ask a question
- 8. A Look Back on 2013 - 2014 Google Algorithm Changed → HummingBird ● Think of why someone would ask a question ● Instead of the exact words they use in the question
- 9. A Look Back on 2013 - 2014 Google Algorithm Changed → HummingBird ● Think of why someone would ask a question ● Instead of the exact words they use in the question ● Focus on conversational tone
- 10. A Look Back on 2013 - 2014 Google Algorithm Changed → HummingBird ● Think of why someone would ask a question ● Instead of the exact words they use in the question ● Focus on conversational tone ● Look beyond trying to rank on a few keywords
- 11. How That Impacts Your Content Strategy Google Algorithm Changed → HummingBird ● Think of why someone would ask a question ● Instead of the exact words they use in the question ● Focus on conversational tone ● Look beyond trying to rank on a few keywords ● Write like a human; speak directly to potential buyers
- 12. How That Impacts Your SEO Strategy Google Algorithm Changed → HummingBird ● Think of why someone would ask a question ● Instead of exactly “what words” are part of the question ● Focus on conversational tone ● Look beyond trying to rank on a few keywords ● Write like a human; speak directly to potential buyers. ● Do not create content only for keywords/SEO
- 13. Why Create Quality Content? “Marketers who have prioritized blogging are 13x more likely to enjoy positive ROI.” - HubSpot State of Inbound 2014.
- 14. As you’ve likely guessed, content should be a big part of your 2015 budget. We’ll tell you just how much in a bit. But first, let’s talk about what types of content and how to create it.
- 15. Are You Creating Content You Know Potential Buyers Will Love? Courtesy Kapost
- 16. Buyer Personas How Well Do You Really Know Your Potential Buyers?
- 17. Buyer Personas How Well Do You Really Know Your Potential Buyers? ● Where they spend their time online
- 18. Buyer Personas How Well Do You Really Know Your Potential Buyers? ● Where they spend their time online ● What industry resources/influencers they trust
- 19. Buyer Personas How Well Do You Really Know Your Potential Buyers? ● Where they spend their time online ● What industry resources/influencers they trust ● What their professional priorities are
- 20. Buyer Personas How Well Do You Really Know Your Potential Buyers? ● Where they spend their time online ● What industry resources/influencers they trust ● What their professional priorities are ● What decision criteria they use for a purchase
- 21. Buyer Personas How Well Do You Really Know Your Potential Buyers? ● Where they spend their time online ● What industry resources/influencers they trust ● What their professional priorities are ● What decision criteria they use for a purchase Better marketing is intuitive when you define your buyer personas.
- 22. Buyer Insight Process Conduct in-depth interviews to uncover recurring buyer sentiments to develop buyer personas and content strategy ● 3-4 interviews with company employees ● 3-4 interviews with recent customers ● 3-4 interviews with “closed-lost” sales
- 23. Types of Quality Content ● Blogs ● eBooks ● Infographics ● SlideShare Presentations ● Interactive Surveys/Quizzes ● Videos ● Web Pages ● Social Media Posts ● Forums
- 24. Inbound & Content Marketing Budget Example Content Breakdown ● 4-8 Blogs per Month ● 2-3 Pieces of Content per Quarter ● 1-2 Videos per Quarter ● 1 Email Campaign Per Month ● Continued Smart Content Total Budget Per Month = $8 to $12K
- 25. Inbound & Content Marketing Budget 50-60% of Digital Marketing Budget Create and publish quality content continuously 40-50% of Digital Marketing Budget Paid demand generation to share and promote content
- 26. So content is roughly half of the budget, and demand generation is the other half. Tell me more about demand generation.
- 27. Before You Begin Demand Generation Have you created enough content to reach your top-funnel lead generation goals? Content has been created for: ● Top Buyer Personas ● Gated and Ungated Distribution ● Relevant CTAs and Landing Pages ● Personalized Emails and Automation
- 28. Demand Generation Marketing Director - “I’ve created some content that is working well with our current website visitors, but that isn’t enough for our sales team?” Ways to reach a new audience: ● Sponsored Emails ● Syndication Opportunities ● Webinars ● Paid Ads
- 29. Demand Generation: Sponsored Emails Leverage the contact database for a media source that is relevant to your audience. ● Don’t Purchase Email Lists (That’s spam!) ● Have Email Sent on Your Behalf From a Third Party ● Include an Offer that Goes to Your Landing Page ● Do Outbound Marketing in an Inbound Way
- 30. Sponsored Emails: Measure the Results
- 31. Sponsored Emails: Measure the Results Measure the immediate and longer-term impact on the different levels of the sales funnel. Total demand generation budget = $12,000. Immediate impact within 3 months: ● 652 Leads ● 78 Marketing Qualified Leads ● 23 Sales Qualified Leads ● 18 Opportunities ● 7 Customers Longer-term impact within 12 months: ● 815 Leads ● 247 Marketing Qualified Leads ● 52 Sales Qualified Leads ● 29 Opportunities ● 11 Customers
- 32. Sponsored Emails: How Much Content? Calculate how much content you will need to nurture prospects through the buyer’s journey. Example with 3-12 Months Sale Cycle: ● 3 eBooks for 3 Sponsored Emails Over 3 months ● 6-9 Lead Nurturing Emails (One per Month) ● 3-5 Related Blogs Posts ● 3-4 Additional Conversion Opportunities (Ex: Guides or Videos)
- 33. Demand Generation: Paid Ads Target Specific Audiences and Measure the Results. ● Facebook: Engage Customers and Prospects ● LinkedIn: Distribute to Targeted Profiles ● Google ● Retargeting ● Relevant Websites
- 34. Overall Budget for Digital Marketing Digital marketing budgets were predicted to rise by 10 percent in 2014, following a double-digit percentage increase in 2013. Gartner survey of marketing executives in 2014
- 35. Overall Budget for Digital Marketing On average, companies spent 10.7 percent of their annual 2013 revenue on overall marketing activities, with digital marketing spending averaging 3.1 percent of revenue, up from 2.6 percent the year before. Gartner survey of marketing executives by 2014
- 36. An Example of How That Budget Was Spent Healthcare Manufacturer with $5MM in Annual Revenue Sales Budget = 6% = $300,000 ● 3 Sales People - $200,000 ● Tradeshow Expenses - $100,000 Marketing Budget = 3% = $150,000 ● Trade Journals/Magazines - $60,000 ● Sponsored Emails - 25,000 ● Marketing Collateral - $25,000 ● Misc. - $25,000 Total = $145,000
- 37. An Example of How That Budget Was Spent Healthcare Manufacturer with $5MM in Annual Revenue Sales Budget = 6% = $300,000 ● 3 Sales People - $200,000 ● Tradeshow Expenses - $100,000 Marketing Budget = 3% = $150,000 ● Trade Journals/Magazines - $70,000 ● Sponsored Emails - 25,000 ● Marketing Collateral - $25,000 ● Misc. - $25,000 Total = $145,000 Results ● 11 Leads/Month, 132/year ● MQLs/Opps. = Very Few ● Average Cost Per Lead = $2,272
- 38. An Example of Budget Adjusted for Inbound Healthcare Manufacturer with $5MM in Annual Revenue Digital Budget = 3% = $150,000 ● Webinars - $20,000 ● Blogs - $36,000 ● Lead Generating Content/Campaign - $24,000 ● Email Marketing - $9,000 ● Social Media - $18,000 ● Additional Demand Generation - $60,000 Total = $158,000 Total Marketing Budget = 6% = $300,000 Non-Digital Budget ● Trade Journals/Magazines - $70,000 ● Sponsored Emails - 25,000 ● Marketing Collateral - $25,000 ● Misc. - $25,000 Total = $145,000
- 39. Results of Budget Adjusted for Inbound Healthcare Manufacturer with $5MM in Annual Revenue Total Marketing Budget = 6% = $300,000 Results ● 62 Leads/Month, 744/year ● MQLs/Opps. = 138 ● Average Cost Per Lead = $403 ● 82% Reduction in the Cost Per Lead
- 40. Next Steps to Plan Your Inbound Budget 1. Estimate Realistic # of Leads for Growth Goals
- 41. Next Steps to Plan Your Inbound Budget 1. Estimate Realistic # of Leads for Growth Goals 2. Consider What you Have Done so far with Content. How Much will You Need? ○ Blogs ○ Lead Generating Content ○ Lead Nurturing Content
- 42. Next Steps to Plan Your Inbound Budget 1. Estimate Realistic # of Leads for Growth Goals 2. Consider What you Have Done so far with Content. How Much will You Need? ○ Blogs ○ Lead Generating Content ○ Lead Nurturing Content 3. Calculate your Digital Budget ○ Consider 3% Depending on Goals ○ Plan Budgets for BOTH Content and Demand Generation
- 43. Next Steps to Plan Your Inbound Budget 1. Estimate Realistic # of Leads for Growth Goals 2. Consider What you Have Done so far with Content. How Much will You Need? ○ Blogs ○ Lead Generating Content ○ Lead Nurturing Content 3. Calculate your Digital Budget ○ Consider 3% Depending on Goals ○ Plan Budgets for BOTH Content and Demand Generation 4. Regularly Create Content
- 44. Next Steps to Plan Your Inbound Budget 1. Estimate Realistic # of Leads for Growth Goals 2. Consider What you Have Done so far with Content. How Much will You Need? ○ Blogs ○ Lead Generating Content ○ Lead Nurturing Content 3. Calculate your Digital Budget ○ Consider 3% Depending on Goals ○ Plan Budgets for BOTH Content and Demand Generation 4. Regularly Create Content 5. Benchmark Data for 3 to 6 Months
- 45. Next Steps to Plan Your Inbound Budget 1. Estimate Realistic # of Leads for Growth Goals 2. Consider What you Have Done so far with Content. How Much will You Need? ○ Blogs ○ Lead Generating Content ○ Lead Nurturing Content 3. Calculate your Digital Budget ○ Consider 3% Depending on Goals ○ Plan Budgets for BOTH Content and Demand Generation 4. Regularly Create Content 5. Benchmark Data for 3 to 6 Months 6. Measure, Analyze and Repeat
- 46. Have Questions? Need Help? www.kunocreative.com/questions www.kunocreative.com/budgets