By: Julia Kovalskiy
AMA had the wonderful opportunity of meeting the president of Farotech, Christopher Carr. Farotech is a small company established in 2001, that partners with various large brands, such as Wharton and Penn Medicine. Their specialty? Inbound marketing.
So what even is inbound marketing? Is there an outbound marketing?
The main difference between inbound marketing and outbound marketing is the way in which the marketer interacts with the customer. Outbound marketing uses techniques such as cold calling, cold emails, and interruptive ads (sounds like a nightmare). This method is very marketer-centric, meaning it benefits the marketer and their need to blast as many customers as possible. Inbound marketing, however, is more tactful. It involves SEO, blogging, and some pretty ads. This causes an attraction of customers coming to you. This method is customer-centric, meaning all the ads and marketing attempts revolve around the customer and their needs.
So now that we have covered the basics, what is it that Farotech really does?
Farotech looks into how the brand fits into a specific target audience. They sit down with clients, do extensive research, and really dig deep asking critical questions of what the client really wants.
Let’s look at an example.
The Rothman Institute has a website with a boatload of information about where to go for this or that, and different blogs and links. Sounds good right? Well, what if someone wanted to make an appointment? The Rothman Institute analysts realized that they were getting a lot of traffic on their website, but no one was booking an appointment! After reaching out to Farotech and pondering why no one was making an appointment, they realized it was because the “Make An Appointment” button was so far down the page that no one even bothered to look.
This is essentially SEO. “If you aren’t first, you are last”. No one wants to scroll down. No one wants to actually navigate to the second page of a search or site. In fact, even if you had the most interesting website in the world, but no one can find it, then it doesn’t really matter, does it?
Another aspect that Farotech looks at is customer information – and how valuable it is. Let’s say you wanted to purchase an e-book online for your class. Would you be willing to put in all your contact info to obtain this book? If not, you’re out of luck! Not having to put in your information will become rare within the next few years. This is because companies want to track your purchases and strategically advertise their products to you. Farotech will then see who your friends are on Facebook– people who are just like you — and target them as well.
In addition, Farotech creates what’s called awareness level content, consideration level content, and decision level content through emails, which will ultimately bring people back to the company’s website. But, what are these content levels and what do they mean?
When a customer buys a product, let’s say a car, they go through three stages of buying: awareness, consideration, and decision. In the awareness stage, the customers says “I need to buy a new car, because my old one is beat.” In the consideration stage, the customer says “Do I want a sedan or an SUV?” In the decision stage, the customer says “Okay, I have decided on an SUV, now let’s look into the color, make, and price.”
Farotech, now, can figure out what stage the customer is in, and send them content based on what stage they are in buying. Not only that, but they can track who has opened their emails, and can send more emails accordingly.
What if a client has “run cold” and seems as though they don’t want to buy anything anymore? Farotech sends them what’s called “slippage emails” and they are used to help bring back sales and reel the client back in. They do this buy figure out why the customer is no longer interested and cater an email to overrule that hesitation.
It’s clear that Farotech does a lot behind the scenes, and are a great company to learn from!