What is a Closed Loop Marketing System, Texas?
What is a closed loop marketing? It describes a relationship that is recorded in sequence. Picture a circle, wheel, or gear, it’s designed to go round and round. The closed loop marketing is like a wheel because it’s a methodical way to captivate the attention of buyers, convert curious buyers into prospective buyers, close prospective buyers into actual customers, and capture data at every stage to make the system more efficient over time.
In other forms of marketing information is lost at different stages. There are gaps. Prospects fall through the cracks. Filling your sales funnel becomes more difficult if you have a leaky bucket. A closed loop marketing system is like a water proof bucket, you are able to deposit leads and see the life of a lead through each stage of the buying cycle.
Let’s now discuss the individual stages of the closed loop marketing system or what I like to call the
4 C’s of Closed Loop Marketing
- Capture Data
Step 1: Captivate
This is the stage where you create content in the form of blogs, social media updates, eBooks, white papers, videos, images, and various other formats with the sole reason of getting attention of prospective buyers with your unique value proposition and educational content.
People take to the internet to research. When you can offer credible advice on a subject matter the prospect cares about, you are a resource. When your message is absolutely irresistible, and the prospective buyer consumes your educational content like a ravenous knowledge seeker. You know you have on your hand someone who is very interested in the subject and potentially in your services.
The system starts with having prospective buyers who are captivated with your message. This is the first step in the process. It’s important that you have quality content to entice prospective buyers to your website to satisfy their curiosities, interests, etc.
Step 2: Convert
Once a website visitor has taken the bait to view content on your website, you have to take your educational content to the next level. You encourage website visitors to convert by extending an invitation to access higher quality premium content through a landing page.
Let’s say, for example, you are a home builder. Your captivating blog post could be titled, “How to Choose a Home Builder.” Your premium content could be titled “The Top 100 Home Builders in the City of Houston.” This is an example of going from good to great with your educational content. It makes logical sense that the report on the top home builders in the area is more valuable that the original blog post which describes how to choose a home builder.
It’s essential that you have dozens of premium content offers that would be very enticing for someone who has a keen interest in the services or products you provide. These premium educational offers must be placed near the relevant content.
Content that is relevant, compelling to the prospective buyer will convert at a higher rate than content that is well-known or over-discussed online. When you create content, create content that is original, compelling, and beneficial to your target market.
Step 3: Close
An inbound lead is obtained when an individual provides their contact information in exchange for access to premium educational offer. These inbound leads need to be scored, segmented, and swayed to evolve within the buying cycle.
Not everyone is sales ready. It is important to sort inbound leads based on whether or not they are sales ready. Any message that is inappropriate for the buying cycle will not be well-received by the recipient. The message progression needs to build upon one another gradually, and the buyer needs to move along with the pace provided. This way there is a true advancement within the buying stages.
The contact information helps you score them. You can see who they are, what their interest might be, how many pages they saw before converting. You can determine the criteria that will be used to score inbound leads, with your sales representatives, so that your sales teams focus the majority of their lead interactions with those that are sales ready.
Once you’ve sorted inbound leads by their stage in the buying cycle, you can then assign them the appropriate marketing automation campaign with crafted messages for that stage in the buying cycle. This is a way to customize the message to a specific portion of your audience, to give them a message that is right for them, for that stage.
An inbound lead that responds well to your emails and educational content over time will become more and more loyal. You stay top of mind. Eventually, when they become sales ready they will have had the time to form those desirable attributes like trust, likeability, and credibility.
By the time they interact with the sales team, they’re already convinced in the company, its services/products, and need assistance solidifying their purchase. Your sales teams will rejoice by having inbound leads that are sales ready!
Step 4: Capture (Data)
At each of the stages within the closed loop marketing system data is collected to monitor the system. The data collected exposes where there could be improvements within the system. It provides information for vital aspects of marketing such as:
- How did the customer find out about the company?
- At what point did the prospective customer become an inbound lead?
- When did the inbound lead interact with a sales team member?
- How much revenue is earned through each new customer?
Like a well-oiled machine, the closed loop marketing system becomes more efficient over time. It has the ability to recreate success over and over. It allows businesses to reach their business goals in a consistent, predictable way. It allows a business to make decisions based on data.
The doubts about the return on investment (ROI) are crushed by understanding how marketing influences revenue. This is powerful intelligence information. It marks the superiority of this marketing method against many other forms.
In summary, medium and large sizes businesses across the USA have already adopted a closed loop marketing system because it works. If your business doesn’t have a system to acquire customers online, then your online marketing is vulnerable to having gaps and inefficiencies.