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In a post at the B2B Sales & Marketing Knowledge Sharing blog, cites stats from a recent benchmark report.
The report, which was prepared by the IT Services Marketing Association (ITSMA), shows that B2B marketers most rely on three specific metrics to measure the success of their lead-generation activities.
The study’s must-have metrics?
Number of qualified leads
Number of closed deals
He argues that an often under utilized metric is just as important:
customer lifetime value (CLV).
He recalls how, in a previous position at a professional services firm, he calculated CLV to help fix an unsustainable business model. Calculating CLV, he says, exposed issues with price points, retention and average account size.
“While it is not commonly used, CLV is one of my favorite metrics to track because it is a ‘process’ metric,” Gillum explains. “It can help guide sales and marketing performance by ensuring that profitability, acquisition cost, and retention rates are being properly measured.”
According to him, tracking CLV can serve as an “early warning” that you might be:
Targeting the wrong audience. Too small? Too focused?
Creating the wrong type of leads. Is the value of the lead worth the cost?
Promoting the wrong offer. Are you encouraging the right customer behaviors?
Setting the wrong price point. Did you consider the true cost of the sale?
Having a retention and/or account management issue. “This will show up quickly (the ‘leaky bucket’),” he notes.
“[I]t is important to track and understand the CLV goal or baseline,”
“Marketers that ignore this important metric are in danger of missing out on an early indicator of top-line performance measures.”
The Po!nt: Consider the whole equation. Take a fresh look at CLV as a factor in your overall success. Doing so could highlight challenges affecting the bottom line across your organization. #Seoppcguru
Results from a recent Fusion B2B Marketing survey :
A full 69 percent of respondents plan to increase their marketing plans and budgets for 2011.
Lead generation is the top marketing priority for 2014.
All respondents plan to increase their Internet, social media and PR tactics.
Determine the ratio between dollars spent on advertising and demands generated. Add that metric to your ongoing sales/marketing dialogue. The Point: Tough times create new wisdom. Research the range of B2B marketing insights developed during the downturn, and consider applying a few of them to your 2014 plans.
Call us today for your FREE 30 min web marketing strategy session . Andy @ 281-570-5804 . visit : http://www.andyalagappan.com .
SEO techniques are the key to success. It helps the businesses in getting more productivity & VISIBILITY from their website. It helps to get higher page ranks and therefore bring in increased traffic on the site. SEO Texas Experts have various techniques and tips that helps you to know few basics about running the successful SEO Campaign
Content is the king. Your website content needs to be unique and user friendly. It needs to attract more customers because of the relevant topics. Your website needs to be treasure house of information for the consumers. The second most important thing is the keywords. One should use appropriate keywords to drive more traffic. Houston SEO firms help you in coming up with various keywords related to your niche market. One should also use a certain percentage of latent semantic index keywords. These keywords are co-related to the main keyword. Meta tags and Meta keywords also play a crucial role in making your website visible to search engine spiders. Exchanging backlinks is another important thing in making your SEO campaign successful.
Apart from these tips by A PROVEN SEO AGENCY, you should use internet marketing and social media marketing to have an increased click rate. Content management is another key to successful SEO campaign. Never leave the campaign, it needs to be ongoing to see the sustained results ..
Call us today for your FREE 30 min web VIDEO marketing strategy session . Andy @ 281-570-5804 .