The contrasts between outbound and inbound marketing can mean a complete world of difference when it comes to a company’s ROI, revenue, sales numbers, and of course how their marketing is perceived by others.
Tactics that are categorised under outbound marketing are continuing to become obsolete, whereas inbound is becoming an increasingly high profit and consistently successful method. Things such as traditional marketing continue to lower in value, while online marketing is only set to rise.
So, what exactly is inbound marketing? How can it benefit a company? Some of the methods utilised include:
- Creating meaningful and informative content through blog posts, Ebooks, videos, whitepapers, Webinars and generalised web content that helps convince the visitor landing on that specific page to become a warm lead
- Online advertising such as Pay-Per-Click advertising (PPC), and using such tools as Google Adwords and Bing Ads
- Email campaigns and newsletters sent on a regular basis to keep in constant contact with leads and customers alike
- Social media management on platforms specific to your market for better overall acknowledgement of the business to the rest of the Internet.
- Conversion rate optimisation and Usability to remove the roadblocks the users face when using your website
- Search Engine Optimisation or (SEO) brings all this together by bring you targeted traffic that is ready to enter your sales funnel
Costs Per Lead
It’s all about finding high quality and eager leads that want to become a customer, but which method of marketing does it better? According to HubSpot,a marketing automation provider an inbound marketing lead is as much as 61 percent less on costs compared to outbound marketing.
Specifically, the average cost for a business that focuses primarily on inbound marketing is only £89.61, compared to £229.67 for outbound-minded businesses.
This is especially helpful for non-enterprise level businesses because that means more of the marketing budget can go toward lead nurturing and making sure the customer has a memorable and positive experience. This in turn leads to even more sales and revenue.
As society becomes even more connected and experiences a deeply personalised web, the idea of outbound marketing starts to feel archaic. Customers want to feel like they’re actually respected by the companies they do business with, and treating everyone like a number in a database (and portraying that sort of thinking publicly) is not the best way to win over leads.
Inbound marketing is able to go deeper and make those intimate connections with consumers, allowing for businesses to actually feel like they provide a highly sought after value that can’t be found anywhere else.
Finally, inbound marketing can be found practically anywhere and implemented with basically every segment of a company’s marketing strategy. Companies who want a bigger piece of the video marketing industry can do so with an inbound marketing agency, while at the same time putting money toward a robust PPC campaign and maintaining a business blog. Inbound is everywhere, will continue to dominate, and isn’t ready to leave anytime soon.
Inbound marketing is a highly affordable solution for small and medium businesses as such businesses continue to allot more of their budgets to inbound efforts, especially when so many customers consistently using their computers and mobile devices. This means the cost per lead is only going to keep going down and make a level playing field for businesses wanting to become leaders in their industry and beyond.