Part 1: How Closed-Loop Marketing Works
This is the 1 of a 4 blog series on closed-loop marketing.
“Half the money I spend on advertising is wasted; the trouble is I don’t know which half.” Almost a century after John Wanamaker spoke those words, most online marketers can still feel his pain.
The irony is you have the technology to “close the loop” between marketing and revenue, but if you are like most, you're not taking advantage of it. For to many, setting up closed-loop reporting has remained too hard and confusing to implement.
As a marketer should be able to tie every single lead, customer and dollar back to the marketing initiative that created them. This is how you can prove your worth, and gain the understanding to more efficiently reach your audience.
It’s time that we changed the status quo. You invest a lot of time in your campaigns you should be sure whether your efforts are paying off. Social media is the classic case: businesses engage in social media conversations without knowing how these interactions can transform into new sales.
If you are unsure on where you should start to implement successful closed-loop marketing, this is the right place for you. I will start with an overview to show the value which comes with closed-loop marketing data. Then, Then in the next two posts I will walk you through a step-by-step explanation of how closed-loop marketing works and how it can help you become a better marketer. Lastly, I will show you how you can fix your loop if you spot something odd in it.
Here are the next 4 posts:
Here's the series:
• How Closed-Loop Marketing Works << you just read this
• How to Set-Up Closed-Loop Marketing
• Better Marketing with Closed-Loop Marketing
• How to Fix a Broken Loop