Why have so many companies moved away from conventional outbound marketing approaches towards inbound marketing?
What is it about inbound marketing that not only makes it more cost-efficient, but ultimately more effective?
More importantly, what is it about inbound marketing that allows companies to increase their marketing ROI, lower their costs of securing qualified leads and ultimately lower their costs of converting leads to sales?
In order to answer these questions, think of the power of being searched by customers, rather than to search for customers. Outbound approaches relate to print, media, TV, radio & billboards, all of which require a substantial financial outlay of capital. However, inbound strategies are predicated on being searched online and engaging potential customers through excellent content, video and social media. It’s about educating your customers and providing them with the information they need, when they need it. So what can you expect from inbound marketing?
Lower cost of lead generation
Lower customer acquisition costs
The costs to run an effective inbound strategy are a fraction of the costs needed for outbound strategies. This not only reduces your costs to generate leads, but also reduces your costs to convert those leads into actual customers.
Higher marketing ROI
To be successful in marketing requires the ability to increase the number of leads generated, while continually lowering marketing expenditures. Produce more leads for every dollar spent in marketing and you’ve increased your marketing ROI. The return on investment of inbound marketing is above and beyond what is achievable with outbound approaches.
Today’s consumer is inundated with outbound marketing messages, messages that are simply ignored and discarded. It’s no longer about trying to catch your customer’s attention, but about giving your customer a reason to get involved. Inbound strategies maximise the company’s greatest attributes and help to position your enterprise as an expert in your field, an expert your customers call upon as a trusted resource. Most importantly, it is a vital component of increasing your company’s market share.