In the digital and connected world we live in today, traditional marketing tactics like TV advertising, direct mail, etc., have proved to be ineffective, and there is a shift in buyer's behavior.
Here are some statistics that indicate the shift in buyer’s behavior:
First, 44% of direct mail is never opened. That's a waste of time, postage, and paper.
86% of people skip through television commercials.
84% of 25 to 34-year-olds have clicked out of a website because of an "irrelevant or intrusive ad.
What is Inbound Marketing?
Inbound Marketingis a methodology in which you create remarkable, educational, and personalized content that is of great interest to the buyer persona of your products or services.
When combined with SEO best practices and Social Media Marketing, your content will become a magnet attracting visitors to your website. When combined with the right call to action and landing pages, these visitors will convert from strangers on your website into leads.
Once you have leads, your marketing automation strategy kicks in to nurture these leads and move them further into your purchasing funnel to close them into customers. Then, also with marketing automation tools, you delight your customers to turn them into promoters of your business.
When these tactics are combined with closed-loop reporting, you have the analytics and reports to figure out what worked and what needs to be improved, so you refine your marketing practice for continuous improvement.
Why Should You Invest in it?
Here are the top reasons why you should be investing in Inbound, along with the most compelling statistics to support it.
Inbound costs 62% less per lead than traditional outbound marketing (Source: Mashable). It’s no surprise that 32% of brands are decreasing spending on outbound marketing to spend more on content marketing (Source: Inbound Marketing Agents)
According to HubSpot, companies invested in Inbound generated 54% more leads into their marketing funnel over traditional outbound marketing activities.
Think about how we as consumers are spending more time online, researching the products and services we're interested in purchasing, as well as the vendors we're looking to purchase them from. Think about how many reviews and blog posts you have read before purchasing your last mobile phone, tablet, laptop, or car. This shows that companies with remarkable and educational online content will attract more businesses.
In addition to generating 54% more leads, the cost per lead generated from inbound marketing activities is far less expensive. For the typical B2B company, inbound generated leads cost 61% less than outbound generated leads.
If you're consistently creating blog posts that are helpful for your target customer, this will help with driving traffic to your website, establish you as an authority in their eyes, as well as search engines since the more indexed pages you have discussing a specific topic, the higher search rank you will be awarded.
According to research by HubSpot, the average company that blogs generates 55% more website visitors, 126% more leads, 97% more inbound links, and has 434% more indexed pages.
Having great content without a strategy on how this content will be promoted to attract readers will not achieve the preset goals of lead generation, high conversion rates, and online engagement with your customers.
Social media produces two times the marketing leads of trade shows, telemarketing, direct mail, or PPC - and social media lead conversion rates are 13% higher than average conversion rates.
Of course, your business's best social media channel depends on the industry you are in and the audience you are trying to reach. In a broad survey of companies using social media, HubSpot found that Facebook was the top channel for generating leads.
I hope you find this information useful and informative.
My name is Izzy and I am a co-founder of IDS, an award-winning HubSpot Solutions Partner. I lead our team of consultants who provide professional guidance to help businesses implement the HubSpot CRM platform migrate, integrate their tech stack to HubSpot to create a seamless environment for sales reps to use. There is nothing I love more than solving the challenges that come up when someone wants to migrate an old system or integrate their tech stack with HubSpot - it's like a puzzle!