What could inbound marketing do for your business?
What is Inbound?
INBOUND MARKETING IS NOT A TACTIC, CHANNEL, OR TECHNOLOGY. IT’S A WAY TO APPROACH TO YOUR MARKETING TO CAPITALIZE ON THE WAY YOUR CUSTOMERS MAKE BUYING DECISIONS TODAY. PEOPLE VALUE PERSONALIZED AND RELEVANT CONTENT, NOT INTRUSIVE MESSAGES. WITH INBOUND MARKETING, YOU CAN ATTRACT VISITORS, CONVERT LEADS, CLOSE CUSTOMERS, AND DELIGHT THEM INTO PROMOTING YOUR BUSINESS TO OTHERS.
What is a Qualified Lead?
A qualified lead is a “good” lead. One that has a high probability of closing into a customer for your business. For the calculator, enter the percentage (as a decimal) of the leads that are currently coming through your website as good leads.
What is a Close Rate?
Your close rate is the percentage of your leads that you’re able to close into customers. For the calculator, enter this percentage (as a decimal).
What is Customer Lifetime Value (LTV) and how do I calculate it?
Customer lifetime value (LTV) is the value of a new customer over the entire lifetime of your relationship with them. We want to look at the true value of a new customer, not just a one time purchase value. For example, if your average customer spends $500 per transaction, purchases twice per month, and has a 24 month relationship with your company, we can see that the value of adding a new customer is not the $500 transaction, but the entire value of that two year relationship. Calculate your LTV using this formula:
[(Avg. Monthly Transactions X Avg. Order Value) Avg. Gross Margin] x Avg. Lifespan in Months