Cuba Gooding Jr., won the Oscar for Best Supporting Actor for his portrayal of Rod Tidwell and his money line from the movie Jerry Maguire was “Show Me the Money!” The quote is so popular that it is ranked #25 on AFI’s top 100 movie quotes of all time.
In the movie, our hero Jerry is fighting for his professional life as a sports agent. He has just been canned and his agency has pillaged his client roster. Not one to give up, Jerry has his phone lines filled up with his client roster. After a few unsuccessful calls with clients who have already left him, Jerry ends up on the line with NFL player Rod Tidwell who is disgruntled with his contract, wants to express his unhappiness and be heard. After several minutes of complaining, with the rest of Jerry’s phone lines dying, Rod tells Jerry that he likes him and is going to stay with him………but he wants him to do one thing…………….”Show Me the Money!”
There are a few nuggets in this scene that apply to our conversation.
First, the client, Rod is unhappy with results (Sound familiar?).
Secondly, and more importantly he is letting Jerry know that he needs to deliver by “Showing Him the Money.”
This is the dance that we do with our vendors. We make business decisions based upon expected results. If the results don’t deliver, we simply move on. For most business owners, however, our marketing strategy is one of the most difficult decisions that we make, and FAR TOO OFTEN WE GET IT WRONG. We either stick with a program for far too long and for way too much money with little or no results, or we give up too easily and cut a viable program before it has time to yield the results we are looking for.
WHY IS THIS?
The answer is simple! Many business owners simply do not know how to quantify their RETURN on their marketing activities.
How do you know if your investment is paying off? What data are you analyzing to determine your Return on Investment (ROI)?
John Wannamaker, a 19th century retail pioneer said, “Half of all advertising is wasted, I just don’t know which half.” If you have no data to determine how your marketing dollars are working, then why are you putting money into it?
Inbound Marketing changes this dynamic!
Inbound Marketing can show you the money because all of your online activities are measurable and trackable. However, is inbound marketing right for my business? A question you need to ask yourself before diving head long into the process of inbound. Using a platform like Hubspot (shameless plug here), you can view how many times your items are downloaded, how many forms are filled out with valuable customer information such as emails , phone numbers and business demographics, and how many requests are being made to meet with your sales teams.
The bottom line for you the business owner is you can determine with great certainty how well your marketing activities are performing for the amount of money that you invest in the program. Something very few other marketing programs offer.
Here is the other great thing about Inbound Marketing:
What Happens When Cash Flow Becomes a Problem?
Usually one of the first things to go is marketing! If you have been investing your marketing budget into print ads, paid search (Google Adwords etc.), and direct mail, what happens to your lead generation when you decide to cut that marketing budget?
The answer is very simple, it disappears! Now your business gets hit even harder due to the lack of new business coming in.
With an Inbound Marketing Agency, that is no longer the case. Every piece of targeted quality content that is created and placed online stays online. Every blog post, every eBook, every Call to Action, every case study, every white papers stay online and are working for you always!
Your lead generation tools continue to bring you leads even if you have decided to abandon the process. So your investment in Inbound Marketing continues to pay for itself over and over again. Unlike the other methods of lead generation where the moment you stop paying for them all your leads start disappearing, Inbound Marketing continues to work for you 24/7.
THE BOTTOM LINE: If you are having a hard time understanding whether your marketing dollars are being spent wisely, it’s time to let INBOUND MARKETING “SHOW YOU THE MONEY”
Bill is the CEO and Founder of InTouch Marketing. Bill drives the vision and direction of InTouch except when England's playing in a soccer tournament, because everything stops!