Add Inbound Marketing To Your Marketing Budget Without Losing Momentum
You’re on a roll. You’ve got your boss onboard to begin inbound marketing, so long as you can come up with the money for it (Or maybe you’ve successfully got your boss 100% committed!).
Now, the task at hand is to allocate money to inbound from your already maxed out marketing budget. And, you need to make sure you don’t lose whatever momentum you already have rolling down the tracks.
We know what it’s like to look at a full budget and wonder how you can “magically” make funds appear. We also know that you have a million and twelve other things you need to get done. So, we’ve done some of the legwork for you and came up with three ways you can shift your budget around without derailing what’s working.
1. Get away from Pay-Per-Click (PPC).
With PPC, you have to pay for someone to visit your website. And, the majority of the visitors you get don’t end up becoming leads. So, you’re paying money to have the wrong kind of people visiting your website. Most executives actually want to get away from PPC, but need something reliable to implement instead.
So, from now until the end of the year, spend more time on PPC (this seems counterintuitive to getting rid of it, doesn’t it?). Focus on optimizing every campaign you have that is returning positive results. Then, cut out what isn’t performing well. Are there campaigns or keywords that aren’t bringing in satisfactory results? Lose them—they’re just costing you money. Change your PPC strategy from direct sales to lead generation and content.
Then, shift the funds that you’ve freed up from PPC to search engine optimization (SEO) and content marketing. SEO and content marketing won’t bring in customers overnight—it will take time. So, don’t cut PPC all together just yet. Instead, make a goal to stop it by the end of 2015, and reflect that change in your budget.
2. Say “no” to a tradeshow.
Tradeshows cost big bucks. And, it really can be hard to track how effective shows are. Look back and analyze the ROI of each tradeshow you’ve been a part of this past year. If you can’t determine the ROI, cut that tradeshow. You don’t want to put money toward something that isn’t performing well for you.
Please note that this doesn’t mean you cut out all tradeshows—remember, the key is to create some flex in your marketing budget without losing the momentum you already have going. Just do away with what is underperforming.
3. Consolidate your marketing systems.
Do you have one software program for email, one for contact management, one for analytics, and so on? While these may be great tools, instead of spending a lot of money on several marketing systems, consolidate them.
We use Hubspot at Nectafy, but there are a bunch of great all-in-one options. You’ll save money but also accomplish one new task as well—you’ll be able to see how one person interacts across all of your marketing. That’s something you can’t do with fragmented systems.
Don’t stop the train altogether.
There’s no need to throw your whole marketing strategy out the window. Simply get rid of what isn’t working well for your company. Whatever funds you free up, attribute that to inbound marketing. The strategy inbound marketing will introduce you to will eventually generate more organic search traffic for your business, making its cost entirely worth it.
(Once you have your proposed budget, use these three numbers to pitch it successfully to your boss. Or, if you need some inspiration for how to allocate your marketing budget, check out this post to see how real life companies are divvying up their budgets!)