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Inbound Marketing Drives ROI

Inbound Marketing is what it sounds like…Marketing that “Brings Clients In” to the website.  Outbound Marketing is Marketing activities that attempt to push people into the website.  Both methods can work but the results are quite different.

ROI Driving

With Inbound Marketing, people who visit your site are doing it voluntarily and because they have an interest in what you are selling.  There was no pushy salesman trying to get them to make a purchase so they arrive at your website looking for information and help with less of their ’Salesman guard up”.  With Out Bound Marketing visitors might have little interest depending on how pushy the Marketing was.  Because Outbound Marketing is pushier there is also a loss of trust which will also make closing a sale more difficult.

Inbound Marketing is not new but the concept is.  Blogs, posting to social media, emails and almost any other form of content Marketing is Inbound Marketing.

So why all the hype about it now???
The Follow Infographic explains:

 

67-92percent

So in a nut shell you would have to generate 8 times as many leads with Outbound Marketing than you would with Inbound Marketing.  And notice that when companies do one blog a week 67% acquire a customer through the Blog.  When Businesses do multiple blogs a week 92% of them make sales through their blogs.

facebook-linkedinSocial media is an important aspect of inbound marketing.  If you hang out around people who you think might be interested in your products and services, they’ll notice you’re around and, if they believe you can help them, they’ll engage. For this to work, however, you need to do your homework and make sure you choose the correct social networks. For example, 77% of B2C marketers think Facebook is killer for their campaigns, while 51% of B2B marketers favor LinkedIn. Different types of businesses use different types of social media.  So choose carefully which media you use.  If your clients prefer Business to Business relationships then LinkedIn is probably your best option.  If they are more personal relationships or the right generation then perhaps Facebook might make more sense.

Inbound vs outbound cost

The proof that inbound Marketing offers a better ROI is in the following numbers.  Consider the average cost per lead for Traditional Marketing Methods…..$373.  Inbound Marketing Leads cost 61% less at only $143!  So you could invest twice as much into Inbound Marketing, make more money and spend less.

Keep in mind, we are not saying stop Outbound Marketing.  We are simply pointing out the benefits and potential opportunity loss if you don’t invest in some Inbound Marketing.

 

Tim Bennett
WSI Internet Consultant

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How much time and/or money should a small business spend?

Professional marketing companies will recommend 7% to 8% of your revenue. Others will suggest that small businesses spend 7-20 hours a week. Larger companies more.
The truth is there is no perfect formula for how much time or dollars you should spend. There are so many variables that need to be considered to determine the amount of investment and where to spend it that most businesses go about marketing as if it were a dart game. They throw darts hoping to hit the bulls eye.

The problem is that without some solid marketing information it’s like throwing darts from 30 feet away. If you can gather up lots of information so you understand your customers better, your competition better and your marketing opportunities better you can move the target much closer. Once your darts are hitting the dart board you can start to zero in on the bulls eye.

Marketing Stress

There are three stresses that make up the majority of marketing stress for small to mid sized businesses.

  • Lack of time to manage the marketing
  • Lack of funds to higher a professional to manage the marketing
  • The difficulty in finding and retaining someone to manage marketing with the needed skills for your business

If you started a business with the knowledge that you would be responsible for marketing the business you should have time budgeted for those tasks and have some background that made you feel confident you could manage your the marketing for your company. If you started your business so you could work less or to run the business, you probably don’t have the time or the knowledge to do the marketing yourself. In fact trying to do the marketing when you are ill trained to do so can quickly take up all your time and probably not give you the best results.

The solution- Higher a professional

How to know if you have the right person for you marketing

Digital marketing is changing so rapidly that a small marketing office should probably only specialize in one part of digital marketing in order to master it. If you want to stick to one office to manage all of your digital marketing needs be sure the office has a lot of resources. If you have developed a marketing plan you should see if the company has qualified resources in each digital marketing area that will be needed.

Digital Marketing Fields Include:

First Step – Research and Consultation

Before you dive into a marketing plan consider investing in some research so you better understand your customers, your competition and the marketing options so you can direct your marketing efforts in a more profitable direction. The money will be well spent as it can save you countless dollars in future marketing.

WSI-We do it all because we can.
We have over 1200 offices and production centers in over 80 countries. This office in located in Asheville, the Western North Carolina regional office.

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