BroadVision Marketing Blog

Is Inbound Marketing Right For Your Business?

Posted by Jaco Grobbelaar on Fri, Oct 30, 2020 @ 01:31 PM

is-inbound-marketing-right-for-your-business

 

A question we often hear is whether an inbound marketing strategy can work for every business model? In other words, are some businesses better served by more traditional marketing?

Businesses must market themselves and their goods or services. It is tantamount to a business version of the old saying about trees falling in the forest: "If a business is started and no one knows it's there, does it exist?"

For all practical purposes, the answer is, "No."

But the natural question for every business owner is, "What's the best marketing strategy for my business?"

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Why Inbound Marketing?

We could give you a long, involved explanation here, but "user experience" says much more than we can in a blog article. Turns out there is plenty of that!

According to HubSpot’s 2017 State of Inbound Report, 68 percent of industry professionals believe that their inbound marketing strategy works. On the other hand, an incredible 52 percent of industry professionals using an outbound, or traditional, marketing strategy do not believe their strategy is working.

In other words, businesses that are "all in" when it comes to using inbound marketing strategies are finding the results they’re after.

 

inbound-marketing-success

 

Inbound Vs Outbound

A little explanation might be helpful on this point. When we speak of "inbound marketing" we're talking about a marketing approach that has a completely different focus and strategy to achieve the same ends: more customers.

HubSpot offers this description of inbound marketing strategy:

Inbound marketing is a strategy where you create content or social media tactics that spread brand awareness so people learn about you, might go to your website for information, and then purchase or show interest in your product... inbound strategies allow you to engage an audience of people that you can more easily qualify as a prospect of lead.

This is how they define outbound marketing:

Outbound marketing is a traditional method of marketing seeking to obstruct potential customers. Outbound marketing includes activities such as trade shows, seminar series and cold calling. It is costly and the ROI is much lower than inbound marketing.

And we would include that most marketers rely heavily, if not exclusively, on advertising.

While there is a place for advertisements even with an inbound marketing strategy, it is an inherently counter-productive tactic with many prospective customers. People do not like ads, they don't read, watch, or listen to them if they can avoid it, and people overwhelmingly say they do not find advertising to be trustworthy.

In fact, according to a study commissioned by the American Association of Advertising Agencies, only 4 percent of consumers believe advertisers and marketers practice integrity. That means 96 percent of your audience do not trust ads.

What inbound marketing relies on is a comprehensive strategy of tactics and activities that include Search Engine Optimization (SEO), content marketing, social media, video, and other venues, as well as a website designed to optimize all these inbound tactics and platforms.

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Why Inbound Marketing Works - For Any Business

Large businesses, as well as smaller firms, can make effective use of inbound marketing. And this includes B2B companies as well as consumer brands. 

In other words, it really doesn't matter what size your business is, or where you're located, it has been shown repeatedly that inbound continues to achieve a higher ROI than more traditional outbound marketing strategies.

This is good news for businesses with smaller marketing budgets because inbound marketing generates three times more leads per dollar than traditional marketing methods. In other words, inbound marketing gives you the proverbial "more bang for your buck."

 

inbound-leads-vs-outbound-leads

(Image courtesy of: Invesp)

In fact, one source found that at least 75 percent of inbound marketing channels cost less than any outbound channel. And they are far more effective in producing qualified leads and new customers.

The bottom line is that people do not want to be "sold to." They want to feel that their buying decisions are based on trust, knowledge, and empathy. So, as someone tasked with marketing your product or service, how do you achieve that?

When you educate, advise, counsel, and coach your prospects instead.

By creating compelling, helpful, relevant content, and post it to your website, share it on your social media platforms, publish it on other relevant channels, and tie it all in with a thoughtful and "prospect-friendly" conversion process.

Inbound marketing provides the means, the strategy, and the tactics to make that happen.

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Inbound Marketing is More Than "Making a Sale"

Because so many businesses still rely on traditional, outbound marketing methods, they end up being trapped in a mindset of "making sales" as opposed to gaining customers. In fact, many companies use their marketing strategies solely to generate sales.

A better strategy, however, is to "generate" loyal customers - people who want to buy from you again and again, and who will refer you to others.  Inbound marketing allows you to build the relationships with your customers that elevates it from mere transactional activities to a virtual community.

Instead of your audience only hearing constant sales pitches, inbound marketing allows you to provide them with useful information that relate to the products or services you offer.

Cultivating and nurturing long-term customer and client relationships is far more beneficial in terms of ROI and for increasing their life-time value. And the tangential benefits of building an audience of loyal fans of your company and brand are exponential.

And a well-designed and executed inbound marketing strategy is the key to making that happen for your business. 

10 Powerful Inbound Marketing Charts

Your Partners for Your Inbound Marketing Strategy

As we've shown here, inbound marketing is a powerful strategy for boosting traffic to your business, capturing new customers, and keeping them. But you don't have to do it alone nor master it yourself. You can get professional help.

The reality of inbound marketing is that achieving your marketing objectives can take time.

It won't just happen with some random blog posts, video, or other content you put out there only once in a while. People will need to consume your content for a while before they'll contact you. Yet, even with consistent, great content compelling them to do so, your marketing goals may never be met without good SEO and a solid inbound marketing strategy.

The good news is that you don't have to figure it all out alone.

In fact, one of the best investments you can make with your marketing budget is to partner with a solid firm like BroadVision Marketing.

Click this link to get your free Complimentary Inbound Marketing Session so you can make an informed decision, or call BroadVision Marketing at 707-799-1238.

 

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Topics: inbound marketing strategy, online marketing strategy, inbound marketing, inbound marketing agency, local internet marketing

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