When you consider the benefits, cost and customer response to inbound marketing, and compare it with traditional outbound marketing channels, it is easy to see why IM is fast becoming the marketing method of choice in the business world.
Inbound Marketing and Its Benefits
Using inbound marketing for your business is like having conversations with potential customers. You will be communicating with people who have already shown an interest and have a need for something you can provide.
The distribution of informative content attracts, educates and engages an audience. Once they have found your content, potential customers can be guided successfully through channels that prepare them psychologically to do business with you.
Marketing automation makes the whole process more efficient. Consumers can be educated with custom content that builds confidence in your brand as they become more engaged and gain a better understanding of your business values.
Any type of content can act as a magnet that draws in potential customers and leads them towards making a commitment. It can be visual, audio or text.
According to Inbound Writer, simply adding a blog to your business website will give you 97% more links and provides search engines with 434% more pages to index, so a blog has great potential for attracting a wide audience.
With a blog it is easy to encourage visitors to subscribe to a regular email newsletter or to opt-in to an email list that will keep them up-to-date with alerts for the latest blog post, exclusive offer or product launch.
Many millions of people view their social media feeds daily and interact with their connections. Any business can grow a large audience through the big social networks, where a brand can build a reputation and get a great click-through rate.
The benefits of IM to business include much lower costs and a higher return on investment, as these statistics show:
- The cost per lead is significantly less when a business spends more than half of its lead generation budget on inbound marketing. (HubSpot)
- Costs per lead for inbound marketing are 62% lower than outbound marketing. (Mashable)
- Three times as many leads are generated through content marketing than by paid search and the costs are 31% lower. (Eloqua)
Traditional outbound channels include advertising in newspapers and magazines, cold calling, leaflet distribution, direct mail campaigns, TV and radio ads. All of these high-cost methods rely largely on repetition if they are to have any impact.
Outbound marketing strategies are suitable for big-budget brands that need blanket coverage rather than appealing to a specific market. However, don’t be fooled into thinking that big brands don’t use inbound techniques – they can afford to do both. The priority of smaller businesses is ROI, and inbound marketing outperforms outbound hugely in this area.
Inbound marketing delivers relevant content to a specific audience, so it will always get a better response:
- 61% of people think more highly of a business that delivers content that is relevant to them. (The Custom Content Council)
- 80% of business people would rather obtain information from articles than from ads when making business decisions. (The Content Marketing Institute)
Outbound marketing channels do get a response but are less effective because the audience has become used to being constantly bombarded by advertising and promotional messages. Cold calling is generally not welcomed and most leaflets go straight into the recycling bin.
- 84% of people between the ages of 25 and 34 have abandoned a website because the ads were annoying or intrusive. (Mashable)
The Marketing Method of Choice
When you focus on using inbound marketing for your business, you will be promoting to a more receptive audience. It will be more effective than outbound methods for lead generation and will ultimately result in more conversions. The channels you use for inbound marketing will provide a better ROI and the costs will be lower than for any type of outbound channel. These are all valid reasons why inbound marketing should be the choice for your business.