HubSpot just launched an 11 page free internet marketing eBook. If you're a small business owner, marketing or sales professional and are frustrated with not generating enough leads from your website, you should go read it online or download it.

Here's the sections: 

1. How the Internet Has Transformed Business
2. Outbound vs Inbound Marketing
3. B2B Marketing Research
4. Organic vs Paid Search
5. On Page Search Engine Optimization (SEO)
6. Off Page SEO or Link Building
7. Starting a Blog
8. Convert Website Visitors into Leads
9. Web Marketing Analytics
10. Other Internet Marketing Resources.  

• Why does sales think all the leads are so crappy?
• How come it is so hard to measure all my different marketing programs?
• How can I use a Blog to better market my company?
• How valuable is my web traffic?
• What do all these web stats actually mean for my business?

At WhizSpark, I attempted to apply engineering to event promotion. I did it pretty well. Promoting a successful networking event, I found, was just a matter of getting enough people with a vested interest to invite their contacts. If I had 20 people promoting it, it seemed to always work. When I had a 100 people promoting an event, we had several hundred people in attendance. Eventually, I built up a really good email mailing list and depending on the event, all I had to do was send an invitation. Of course, the bigger the mailing list, the better the results. HubSpot conducts online marketing webinars all the time with several hundred people in attendance. 

Event Promotion is Predictable. Measurable. Engineerable.

In a similar fashion, sales has always been pretty scientific. If a salesperson contacts enough prospects, they'll make enough sales. Depending on the sales cycle, number of prospects touched, # qualified, and historical conversion percentages... sales should be predictable. Measurable. Engineerable.

Shouldn't advertising be the same way?

Obviously, the engineers at Google thought advertising should be. And they created Adsense. And made online advertising measurable and pretty damn scientific. Certainly Engineerable.

Shouldn't marketing be measurable too? It seems to me that measurable marketing is the next frontier.But, how do you measure SEO, blogging, webinars, activity on Digg or LinkedIn, leaving comments on other blogs?

Isn't this stuff more art than science? No. Not at all. I'm not saying that creativity isn't necessary. And these activities should be treated as opportunities to meet, interact with and educate potential prospects. Not as places to blast your positioning statements or litter with links. I'm just saying that a marketer should put their right brain on too.  

So, how do you go about measuring it? What are the important criteria?If I take a very web centric view, here's the questions I'd want to answer: 

• How much qualified traffic can I possibly get to visit my website?
  
• How much qualified traffic am I getting now? How much traffic are my competitor's getting?
• How much of my traffic is converting? Notice I didn't say lead. I think some conversions don't warrant a sales call. For example, someone might sign up for an email newsletter or leave a comment on a blog.
  
• How much traffic is converting into a lead? I'd qualify a lead as someone who registers for a seminar/webinar, downloads a white paper, or more explicitly requests someone to contact them.
  
• What marketing activities cause conversion events? If someone signs up for an email list, then attends a webinar one month later, I'd say that the webinar is a marketing event that should be done again. If webinar x causes 24% of your site visitors or email list members to convert, and white paper y causes only 2%, then do more webinars.
  If blog post z garners 15 comments from 25O RSS reads with 4 resulting in a repeat site visit and other conversion event after viewing your product description page... than blog post z.1 is something that should write. Similarly, activity by marketing or anyone else in a company, that happens on external blogs, social media and social networking sites, should be measured too.
  

• What marketing activities are generating highly qualified leads?
• What sources of leads are converting at the highest rate in the shortest amount of time?

• What sources of leads are buying our most profitable products?
• What sources of leads are repeat buyers/ bring in clients that are retained the longest?
• If I spent x amount of time + y amount of dollars on marketing to z lead source and z lead source converted into client buying revenue r  and profit p producing product and client stayed for n years, what is my true customer acquisition cost?
  
• What's my most profitable marketing activity? Which marketing activities are not as profitable?

• What marketing activities are best for the bottom and top lines of the business?
• How much can I grow the business if I invest x dollars into marketing activity z?
  

Most small and mid sized businesses are just dipping their toes into blogging. With keyword research and a good analytics package, it's not hard to plan and measure how blogging will impact the bottom and top lines for a business. If it's an ecommerce site, blogging is a no brainer. If you're a b2b company trying to generate leads... again... a no brainer. If you're b2c and people are passionate about your types of products (ie you sell wine not hammers), also a no brainer. If you're a realtor, you should be talking to Real Estate Tomato about how to start a real estate blog... umm... yesterday. (Of course, you shouldn't underestimate what's required to be successful with a blog - no matter who you are or what you sell.)

All that said, social media is still the wild west. There's no best practices. There are very few services that assist business owners in a meaningful way. The only businesses that are taking advantage of social media are big brand name F1000 companies. They have the budgets to deal directly with the big social networks and the budgets to tap the big ad agencies who deal with the big social networks.

Everyone else is sorta left figuring this out themselves. I've been able to successfully generate leads from social media activity. So has the internet marketing company I work for. We teach our clients best practices for the sites that actually drive traffic directly, and support our clients' SEO strategy. We also give them the tools to analyze effectiveness in terms of traffic, leads and soon: sales across their SEO, PPC, blogging, and blogosphere/social media activity. This informs what works and what they should do more of. For example, if Digg reaches your audience, you should learn how to use Digg. If you're trying to reach a younger crowd, join facebook. If you're trying to reach CEOs, start answering questions and endorsing people on LinkedIN.

But, this list could go on and on. How does someone know where to focus their efforts and how do they measure what's working before the leads come in? As this map indicates, you could literally spend all of 2008 registering and learning social media services. There certainly isn't a comprehensive tool within the reach of the average mid sized business to track all the leading indicators of social media success or failure. However, is it really necessary to track the leading indicators? If you have a website that converts visitors into leads and you can successfully generate traffic from social media sources and measure which social media sites send visitors with a high likelihod of converting to a lead... then... I'm left with the conclusion that you should just find yourself a social media advisor. I'm sure that 1 out of 50,000 people are like me (or the guys at Read/Write Web) who spend too much time tracking the social media landscape, who can interpret it and translate it for the average business owner so they know what to do first.

And if in doubt and you don't want to find an advisor, start with LinkedIn. If you're in business, chances are that your best prospects are on there.