Ep10 – Marketing Automation

What is it and why is it good for your business?

In this episode we explain what Marketing Automation is and how it can be used to turbo charge the growth of your business. Marketing Automation can be used for both good and evil. Make you have a listen to this episode so that you can work out which one is which and the best way for you to use it in your business. The customer experience is paramount. Too much automation and it becomes impersonal, too little and you are running the costs up for staff to do the same work or not following up with leads enough. 

Transcription:

0:00
Welcome to the front line, the sales and marketing podcast. Hello, everyone and welcome to the frontline Sales and Marketing Podcast. We aim to provide entrepreneurs and enterprise leaders with three T’s, the tools, the tips, and the techniques to help improve sales and marketing knowledge for better results. I’m joined here today by my fellow cast members fluorous block, marketing strategy and digital transformation expert and Jeremy PS, sales trainer and coach at the outside sales training founder and creator of the mastermind sales methodology. I am I even call us CRM and marketing automation specialists and all around good guy. Welcome, guys. Hey, john. Very good. Thank

0:44
you. Alright, so

0:46
today we’re going to be discussing inbound versus outbound marketing. And where should you spend your time? Jerry, what are your thoughts on that?

0:55
Well, I think it’s the biggest problem facing new business or entrepreneurs right now is where to spend your time, whether it’s in outbound or inbound marketing, because that’s where all the sales are made in those two channels.

1:13
And it’s either column A or column B, you know,

1:17
it’s funny, because every time I try and push the idea that sales and marketing are actually one function, people look at me and go like, No, no, no, they’re two different functions, but they’re not. Right. So sales are made through a way of actually communicating to the market. And that could be outbound or inbound marketing. So before we jump into the problematic that we’re trying to solve here, or pass information on to how about we do then a quick definition of inbound versus outbound? Now I’m sure it sounds self explanatory, but to be on the safe side, Jeremy, you do outbound sales marketing a when you do inbound sales marketing?

1:53
Yes. And no, I consider myself more in the middle. But no, I mean, as in to give the definition for Oh, right. Yeah, right. As a specialist, as a specialist, right. So I guess, for inbound, you basically put out content. So have you ever heard of the 711, four rule, creating your own market by putting out content that people align with or interested in, and the seven 711 four is basically seven hours of content over 11 touchpoints, across four different channels. Wow, that’s a lot of input, you’ve got to create all of that. And you know, to create a setting up this podcast, you know, we spend 45 minutes getting everything set up to do what’s going to be here 15 to 20 minute podcast. So there’s a lot of work behind the scenes to produce that. And there’s a lot of upfront investment in time. But it really is the long game. Because once you’ve made it, it sits there, people can stumble across it can listen to it can be engaged, can maybe find some insights and learn something and then look at who created it and see if they can help directly. So inbound marketing really is allowing people to stumble across you and allow them to find you, based on the content that you produce.

3:02
outbound marketing,

3:04
outbound marketing, could be anything as simple as cold calling, direct email, outreach, networking. SMS is anything that you either outreaching to somebody to grab their attention, right. Direct Mail isn’t billboard advertising. That’s all outbound hoping for something to come inbound, even

3:33
their hope marketing, take a knee and pray. I guess the Yeah, it’s whoever takes action first to start that sales interaction, whether it’s you or them, but Funny enough,

3:43
I mean, based on your definition of outbound or sorry, inbound marketing, you are already creating that start of the communication process if you wish to try and get people to come to you, but you just made the distinction of when does the actual sales process start? And that is when there is a need from the the audience is that correct? Yeah.

4:05
So you can say so I was, like, essentially incorrect when I said that a billboard was out was outbound. That’s more inbound

4:18
Do you think I think who would sit on both in my opinion the outbound marketing is much more of the you know, the flyers the the pamphlets, the direct mailing the even advertising, TV commercials or more radio commercials, for example, that could be outbound. So it’s

4:35
a form of outbound.

4:37
Yeah. Well, billboards. signage like you Yeah, if you put your your shingle at the front door, and someone walks in, is that inbound, inbound, help him I’d say billboards pretty pretty well on the line, like you say, but yeah, like having your your little iframe sign that you’re funnier. You show up and someone walks in. That’s a walk in so that I would consider that email.

5:00
Okay, now that we’ve somewhat defined them, I think we need to talk about the the pluses and the minuses or the advantages and inconveniences of each one of them. Because if we’re trying to sort of like decide where do you need to focus then on your own business leaders, so why do they need to focus their, their attention? I think we need to understand a little bit what each one does. Now, we talked about outbound marketing, is pretty much reach. It is outreach, it is very short term as well, it’s very strategic and operational, you can do it now. You can do it quickly. And you can do it at a fairly cost effective. cost.

5:38
Yeah, right.

5:39
The disadvantages would be short term,

5:43
like you’re not, it’s not, you know, invest in it, you’ve got to, you’re pretty much sprinting the whole time. So without gaining any momentum, like if you’re not doing any kind of long term strategies, then you might, you know, get burnt burn yourself out, or, you know, the strategies aren’t working so much. So then you’re more vulnerable to changes in the way the markets interacting with you and your brand.

6:08
So I would be more prone to fail, essentially, if you only had an outbound marketing. Absolutely no strategy.

6:17
Absolutely. I mean, look at the statistics on on direct mailers, right. I mean, what are we talking about open, right? If you send 100 emails, how many are going to be opened?

6:27
Probably between 10 to 15%. That I’ve been finding lately, because the email service providers are getting a lot more ruthless in the way that they block things. When you say direct mail, my mind runs to post as well, which actually has about an 80% open rate. But then it lingers. someone gets it from the mailbox, they’ll take it in the house, they might leave it on the bench for a couple of days before they eventually put it in the bin. It’s not instant. It’s not it’s not and you know, you walk past it three or four times cost, cost when I was doing, I was getting Australia Post to send it out. And I print 5000 flyers, and I think it was about 30 cents per household. But that was like 5000, across a couple of postcodes. And then you can select whether it’s business or home. I mean, it’s not not so much of a surgical strike is what having a specific list of people is. But you can afford to to bombard an area in the hope den if particularly if you’ve got a call to action, like a discount voucher or, you know, use this code to get access to something. It’s very

7:37
difficult over direct mail to actually establish call to actions as well. And

7:42
yeah, unless you’ve got an offline mechanism to to deal with it.

7:47
It’s funny you say combat, because to me, direct mailing, especially when it comes to flows and stuff like that. It’s basically like carpet bombing. Yeah, yeah, back in the Vietnam days, you send the B 50. twos out, and you basically carpet bomb, the entire area just had one small target, that a useless trivia,

8:04
if you that’s called a flyer, if it’s thrown out of an aircraft, if it’s handed to you, it’s called a hand bill. So everybody talks about fliers there.

8:14
So your point, so you would say that today to 2020. Right? The future is more directed to an inbound marketing strategy.

8:27
Yeah, I’d probably say whatever everybody else is not doing that makes you stand out. So probably direct mt might actually pick up in value now because most people are trying to email and reduce their costs, but then everyone’s trying to email now people are trying to block spam. So how are you going to get to them?

8:43
So what’s the most effective for you? Well,

8:47
I mean, we still need to go over the advantages and disadvantages of inbound marketing. So for outbound marketing, of course, we said it’s fast, it’s, it’s cost effective, but you know, it might not have as much of a reach and it’s short term, right? You’re not exactly building a relationship with your with your target audience. So, what works for people exactly what everyone just said, I think it needs to be on a case by case basis, you cannot have a In my opinion, anyway, you cannot have a marketing strategy that does not look at what competitors do, not only from a marketing point of view, look, these are the products and the services that the your competitors are putting out into the market, but more specifically, how, what is their go to market strategy? What is their marketing, communication? How are they communicating to the customers and then if you do want to stand out, you can either do the same but better, or you can do something completely different and be a bit left field.

9:46
Very important to conduct a market analysis. If you’ve got a business you should have that somewhere in some relative plan or business plan that you’ve created. Doesn’t have to be 10 million pages can be

9:57
short, absolutely. I mean the basics of anything marketing strategy needs to come back to what is your customer? And what is that segmentation of your customer? What is your addressable market and the customer segmentation? And within that customer segmentation, you have multiple things that you need to learn about your customers, their geography, the way you they communicate best, the way they act, whether it’s psychographically, what is the demographic or? And we’ll have an entire podcast on that where you’re absolutely right. There is no marketing strategy or marketing plan unless you have custom segmented your customers so that you know exactly how to target them and communicate with them.

10:32
You know, previous podcasts, we mentioned that the, if you go to if you’re the one providing the information, then you’re the one most likely to be trusted with being able to be right or have the knowledge or have the experience to actually provide the product or service. When I was talking about Dick Smith, in an earlier podcast, once upon a time, people would go in and go, tell me what cameras do you have. Now they walk in already reading heaps of stuff online, and saying, show me this camera, this camera and this camera, because I want to see them, feel them and touch them, then they just walk out of the store and they go buy it online from the provider that gave them all the right information with the price that was right for them and and in all the features of the service. So inbound marketing can be extremely powerful, because it builds trust. And it builds sort of credibility and professionalism.

11:25
So you want people to reach out with you being the key to inbound,

11:29
or whatnot. One of the major pillars of inbound marketing is authority marketing, or credibility, marketing, however you want to call it. So you basically put yourself out there as the de facto expert on whatever it may be. If you’re a car salesman, you’re going to or a car dealership, you’re going to put yourself out there as being the standard, the de facto standard on the best quality cars, but also the best quality customer service as well. Because after all, we need not to forget that all of this is all comes back down to customer experience as well, right? Because ultimately, the customer is king, if we’re not giving them a good experience, whether it’s through inbound marketing, inbound marketing, and through the entire marketing, funnel sales or marketing funnel, we’re gonna lose that sale. So a car salesman is going to put themselves out there and look at, there’s a master dealer down in springboard, right? I’m not gonna say the name. But basically, you know, it’s a family run business to kids. Now we’re following up on the work that that he has built, great customer service has had the best quality cars for the last three decades or so. So they’re building their reputation, they’re communicating that reputation to the customer, so that, you know, when, who knows in what’s the average, now replacement time for a car three, four years. So next time you want a car, and you’ve got this name in your in your head, as being the standard and the expert in cars, you’re gonna go there.

13:00
I love I love this. I heard from an expert, an expert in the field of writing and content development. And his name is Harry Singh, and his present a public speaker. And he explained that an expert is somebody who knows more than the other person in the room about a specific topic. So if you’re thinking that you’re not an expert in anything, what something that you think that you’re an expert, like, you know more about something than somebody else does. And that, that simply makes you an expert in that field. But the key thing here is to be an authority. Now, if you break the word authority up into its first section, which is author, right, and author is to write content. Right? So to become an authority, it’s as simple as writing

14:00
content. Yeah. Being like the trusted provider of said content, like if you go, Hmm, I’m feeling a bit down lately. What does Dr. Phil have to say about that? She’s made himself an authority doesn’t matter whether he’s good at what he does, whether he’s the top of the of the, or the smartest psychologist or whatever around. That’s wrong, because he’s known. He’s on TV, he’s on authority.

14:22
Plus, all of his content is made available. So you can go back to the website of Dr. Phil and don’t even want to know what that one is. But you go back onto the website, you can do your research, you can put in, for example, whatever symptoms or whatever plus you’ve got med.com, I think and all of these other places. Web MD There you go. So anyone that portrays to be an expert, whether it’s a business entrepreneur, as a person, you have to build that authority by actually sharing that knowledge sharing those insights and it’s absolutely essential as well to create That relationship that you want to have with your target audience.

15:02
And people give the giveaway content for free typically, like, even if you’ve got online courses and stuff, the more you give away for free people go, Wow, that’s a lot. I don’t know, if I’m gonna learn all that, or I don’t know, if I can put it all in the right order or something, you just do it for me. So I been trying to put as much out free stuff as I can on my YouTube. And, you know, it’s it’s, it’s come comes back, like people come back and I get customer out of nowhere. And they’re like, yes, yes, no one else can help me but you and that, that power and that authority comes from, you know, being the solution to what they needed in that moment, or at least showing a pathway to it.

15:43
Absolutely. So just to summarize, then little, but the advantages then of inbound marketing is you’re building that long lasting, trusting relationship with your audience. But unfortunately, it is time intensive. And it is also resource intensive. Again, every case is individual. And you can also do as much or as little as you possibly can. But of course, the more you do, probably you’ll get the quicker results. Would that be a fair assessment?

16:17
Yeah, absolutely.

16:18
Fantastic. Well, I

16:20
think that’s, that’s a podcast. So if there’s nothing further to add, this was another interesting session where we discussed inbound marketing versus outbound marketing em where you should spend your time. I hope you’ve enjoyed the session as much as we have in the neck. Next episode, we’ll have another interesting topic to cover about marketing automation and managing your funnel. So tying that into how we looked at inbound and outbound marketing. We’ll have you join us again. And again, if you have any topics you wish to discuss, or if you have any questions for any of us, you can always connect with us on LinkedIn. Or even if you’d like to join us for a podcast, let us know through through LinkedIn, or our website, the www dot, the frontline podcast.com. And we’ll be sure to respond as soon as we can, and we’ll have a discussion about it. So thank you again to our listeners and viewers for tuning in for another episode of the frontline Sales and Marketing Podcast. Looking forward to seeing you next time. Thank you very much.

17:23
I thank you have a buddy. You have

17:25
been listening to the sales and marketing podcast. We hope you enjoyed this episode. And hope to see you again soon on the front lawn.