Inbound marketing isn’t just a buzzword. It’s buzzworthy for a reason. When compared to a typical outbound strategy, a carefully crafted inbound marketing strategy can cost 62% less per lead. This is because you’re targeting the right people at the right time.
Outbound vs. Inbound
Outbound marketing gives brands a one-way communication avenue. They use radio, TV, direct mail and tradeshows to get in front of as many potential customers as they can. The problem with this approach is that people are being bombarded with messages all the time. In all the noise, people respond by ignoring these messages. They change the station, or throw away the postcard—even though it’s clearly labeled “time-sensitive offer”.
In fact, people go to great lengths to avoid these intrusive messages because they can find all the information they need with a quick Google search. That’s the beauty of inbound marketing. It leverages the research phase of the customer’s journey to achieve relevance at the right moment.
“Inbound marketing leverages the research phase of the customer’s journey to achieve relevance at the right moment.”
Consider this example. If you Googled the word “turntable”, it might be because you’re interested in buying a record player. If a retailer is using an inbound marketing strategy, they can use SEO, PPC, blogs and social media advertising to reach you in the seconds after you entered the query.
In this scenario, the retailer isn’t shouting to the masses, hoping anyone who hears them will come running. It’s a mutually beneficial relationship. You are going about your business, looking for a new turntable. And they’re using an inbound marketing approach to bring their most relevant content to your attention. This helps build trust and credibility with target audiences.
How Effective is Inbound Marketing?
According to research done by HubSpot, inbound marketing can help your company double the average conversion rate of your website. The reason inbound marketing is so effective is that it’s permission-based and not disruptive. Since people are actively seeking information, they don’t feel cornered by your ads. This is why, even with a limited marketing budget, inbound marketing will generally give you more bang for your buck.
“Content marketing can generate 3 times as many leads as traditional outbound marketing.”
Research shows that content marketing – a core aspect of inbound methodology – can generate 3 times as many leads as traditional outbound marketing. This is particularly true if you are adding value by consistently providing entertainment and educational material for your target group. This chart from HubSpot shows the phases of an inbound marketing strategy:
Components of an Inbound Marketing Strategy
A multi-channel approach will help you reach everyone in your target where they already are. This way, you can interact with strangers and transform them into promoters using their preferred channel and provide an experience that’s both seamless and enjoyable. These five areas will target each phase of the inbound marketing cycle:
Google Search Ads
Search ads enable you to target people who are actively searching for keywords relevant to your services.
Facebook advertising gives you the opportunity to increase brand recognition, share content, and retarget previous website visitors. Did you know that social media has an 100% higher lead to close rate than outbound marketing strategies? This means when visitors land on your site from social, they’re probably on their way to becoming customers.
Deciding on the right keyword phrases will help potential customers find your business online. You should optimize your website to rank organically for non-branded keywords as well as branded.
Blog posts help you add value for your customers, and 8 out of 10 people identify as blog readers. If these readers find your blog content to be reliable and informative, they’ll be back for more. They might even share your post with their friends and colleagues.
With targeted emails, you can reach and re-engage customers with information about special offers or new service offerings. This is a great way to continue the conversation after the conversion has been made.
Partner Up for Success
In 2015, digital advertising investments made by smaller organizations were almost nonexistent due to a lack of in-house expertise. When it comes to staffing for digital marketing efforts, you might choose to hire full-time employees, or partner with an agency.
Hiring full-time help can be difficult. Not only do you have to spend time searching for people well-versed in your desired digital marketing platforms, you have to set aside time to interview candidates. If you find someone right for the job, you’ll have to provide benefits and competitive compensation to entice them to join your organization. And if they fall short, you may end up also consulting an agency, which could cost more in the long run.
Hiring an agency can be expensive from the beginning, and it can be hard to find one that “gets” the heart of your mission. Magnifyre is different. We only partner with businesses and nonprofits we truly believe in. When we come aboard, we’ll act as an extension of your internal team to help you turn strangers into promoters with retention-focused campaigns driven by compelling content.
You’ll have one dedicated team for less than the cost of one full-time employee. All because we believe that human-driven content strategy is an investment that will serve you and your brand for years to come.
“These search ads alone are estimated to drive between 10,000 and 40,000 new website visitors to your website each month.”
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