"Half the money I spend on advertising is wasted; the trouble is I don’t know which half,” wrote John Wanamaker, 1838 – 1922. After more than 30 years in the industry, and like Mr. Wanamaker before me, I’ve seen a lot of marketing strategies gone wrong and a lot of advertising dollars wasted. Today, we have the technology we need to “close the loop” between marketing and revenue, but few are actually taking advantage of it.
In the free e-book, "An Introduction to Closed Loop
Marketing,” Maggie Georgieva says, we “should be able to tie every single lead, customer and dollar back to the marketing initiative that created them.” Through this we can learn how to more efficiently reach our audience. Closed-loop marketing allows us to do just that as it shows us what activities are most likely to convert a lead to a customer, helps align sales and marketing teams and, ultimately, leads to more revenue. Closed-loop marketing is an important tool for any integrated marketing initiative.
As a marketer, if you’re tired of being seen as a cost-center versus a revenue center, take a look at the free e-book, and let me know what you think. I’d love to hear from you.