Thought Leadership

Inbound and Outbound Marketing Unite for a Winning Lead Generation Program

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December 3, 2018
Inbound and Outbound Marketing Unite for a Winning Lead Generation Program
By Bryan Adler

I’m trying to grow my business. You’re trying to grow your business. We have something valuable to offer. That’s why we’re in it.

In the financial services industry, lead generation is a complex proposition. Customer expectations are changing, and technology is evolving rapidly. We’re dealing with multiple generations who all want something different, and customers are getting information everywhere they turn: print, media, mobile, social media, friends and family. So, how can your financial institution effectively generate leads and cultivate them into customers?

Lead generation can be challenging and daunting, especially to smaller firms that may not have the expertise or resources. Content marketing is the running trend now; many are implementing digital strategies incorporating videos, podcasts, social media, blog and more. Choose your marketing and lead generation efforts carefully. Statistics are all over the place regarding the success and penetration of these programs. Hubspot has a page full of statistics. A few highlights: 79% of people use Facebook daily, content marketing is three times as effective as paid search, more than 30% of mobile searches are related to location, and 72% of users who performed a local search visited a business within five miles of them. It’s expected that more than 5.6 billion email accounts will be active by next year.

You might be saying to yourself, great, but which way do we go? We can market to the customers, but how do we convert them? Here’s my simple 3-step strategy:

  1. Market to them (both inbound and outbound)
  2. Nurture your leads
  3. Close the deal

Inbound marketing is the chosen path of many small companies. They follow a “build it, and they will come” mentality. Good SEO and website content will draw people in and convert. According to DemandMetric, companies with blogs generate 67% more leads per month.

That’s a start, but it’s only a piece.

Combining both inbound and outbound marketing will drive your marketing ROI. Buying quality email lists, building social media fans (not just followers) and creating strategic alliances are all methods that have proven successful. This is what Vetter does day in and day out. Please reach out to me at bryan@thinkvetter.com if you would like to learn more about what we do for our clients.

Here’s how we do it:

1. Market: Keep the content flowing for your inbound marketing and bolster it with outbound marketing. Leverage partners, email lists, and social media to increase your reach and influence. Partner programs help, too. Customers will consider companies they’re referred to if they trust the referrer. This is why every customer or business partner interaction is so important: They must be comfortable referring their clients to you.

2. Nurture: Develop your interfaces with different landing sites for different segments and offerings. You must provide prospective customers relevant information. Customers value the time savings and open information, so they can make informed decisions. Assisting them in becoming more educated on their financial matters helps them feel your financial institution can be a trusted partner. If they’ve stopped by your website to read a blog, follow up a short time later via email to offer them a checklist or some other useful piece of information.

3. Close: You’ve educated your prospects, now it’s time to convert them. Call or send them a promo with introductory rates. This takes close collaboration between your sales and marketing teams for consistent messaging to close deals.

Marketing is an investment in your business and it exists to drive value to your community bank or credit union. Make sure it does with a strategy that incorporates inbound and outbound marketing and education that closes deals. Then you can convert them to lifetime customers. You’re not the only one on that journey. Your converting and onboarding must be better than the competition. Vetter is here to help.

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