Imagine this; what if you could tell your boss that ever since you started blogging, you drove 40% more traffic to your website, and of that traffic, you generated 12 new leads and 3 new customers. Within those 12 new leads, you were also able to trace them back to the original source from which they found your site. What better way to validate your inbound marketing efforts and show your worth? Enter - closed-loop marketing.
Closed-loop marketing is the methodology tied to tracking every single lead and closed customer to the marketing channels, efforts, and campaigns responsible for their capture. By relying on information and analytics that focus on the lead and lead source, the marketing team is able to understand what’s working and what’s not in ways that aren’t possible without a closed-loop approach.
Closed-loop marketing is effective for any business, but with corporate training spending on the rise, this method is more important than ever for corporate trainers. Let’s break it down a little further.
How closed-loop marketing works:
1. Visitor Arrives On Site: This is the entry point of your closed-loop system. Make your website the central hub for all of your marketing, filtering all promotional efforts directly to your website. Once a prospect visits your site, you can cookie them and start tracking their activity.
2. Visitor Browses Website: As you attract and identify traffic, you need to track their behavior. Which pages are they viewing? What actions are they taking? This intelligence will help you create a path for faster visitor-to-customer conversions.
3. Visitor Converts Into Lead: Now that you have significant traffic, you want to send qualified leads to your sales team. You can do so by directing incoming traffic to a landing page that uses a form to capture valuable lead/data information in exchange for a piece of content (ebook, whitepaper, offer, etc).
4. Lead Becomes A Customer: Finally, you determine which one of your marketing channels contributed the most customers.
So, how can corporate trainers benefit from this?
Corporate trainers play a crucial role in making their companies more competitive by developing the skills of the workforce. They assist in organizational change by developing the expertise a company requires to enter new markets or expand their existing business performance. But, how can they truly know the appropriate skills and knowledge that is needed within the company without measuring the marketing efforts and analyzing what is and isn’t working?
The U.S. spending on corporate training grew by 15% last year to over $70 Billion in the US and over $130 Billion worldwide! That’s a heap sum of money to be pumping out without knowing if what you are doing is effective. To truly know if these efforts are being graded, a closed-loop marketing approach is the perfect solution for corporate trainers to assure no money is squandered. CLM is all about increasing the relevancy of marketing messages to life conversion, grow revenue and improve return on marketing investments. Sounds nice, doesn’t it?
Interested in learning more? A Q&A with Stratus Interactive will be beneficial to your organization on how we use HubSpot to track all marketing efforts for our clients.
