Every time I want to drive a point in my articles I end up having a lack of data or not fully satisfied with what I have presented with the help of words. At a later point, I’d get the data mostly from Rand Fishkin and of late from many Marketing veterans and professionals on LinkedIn.
After writing the above article I came across this nice post with a visual attached from Charlie de Thebault on LinkedIn.
In some organisations, poor-quality leads are still counted as leads, unfortunately. They do it because their profit margin is too high they do not have to care. But what about an organisation that cannot afford to do such kind of marketing work?
Poor quality leads are cost misspent. At the same time, if they do the right marketing they will get good-quality leads. Right marketing often involves the Brand for why a customer chooses you. Brand plays a vital role in quality leads and thus growth.
As rightly said by Charlie, Overspending on Activation will overwhelm the sales team with poor-quality leads and ultimately eat your profits that were obtained from the good quality leads and the business from them.
Here are some more data points from the most important work in marketing especially in these times by Les Binet and Peter Field.
1. A long-term outward focus brings broader and bigger effects
2. Brand building and sales activation work over different timescales
This single visual should clear all of the questions about investing in building your Brand.
3. Short-termism boosts ROMI but not profit growth
Focusing solely on quarterly results might help you feel winning. But it doesn’t contribute to profit growth. Also, short-term results tend to fall after the initial effects.
All the above slides have been extracted from the post The Greatest Hits of Les Binet and Peter Field – Link here
4. People are willing to pay more for strong, familiar, popular Brands
A study says that a 10% increase in the share of voice can decrease people’s price sensitivity from 5% to as much as 20%. People are willing to pay more for strong, familiar, popular, visible brands – naturally. Isn’t it?
This visual was extracted from the article The Brand: the Most Valuable Business Tool Ever Invented – Link here
Tags: BrandBuilding, MarketingStrategy, SalesActivation, PerformanceMarketing, ROI
