The past few years have been unlike any other, in recent history, and if you’re like many other small and medium-sized businesses (SMBs) you’re looking for ways to give your revenue a boost without breaking the bank. Look no further… in this article, we’ll discuss how SMBs can benefit from inbound marketing. While it’s not a new tactic, developing a solid, cost-effective, inbound strategy can provide a wealth of advantages.
Before counting down the benefits, let’s take a look at what inbound marketing is and how it’s different from outbound marketing.
Inbound Versus Outbound
Simply put, inbound marketing is a methodology that focuses on attracting potential customers to you. It’s about understanding the buyer journey, driving qualified leads, building relationships, and converting leads into loyal customers. On the other hand, outbound marketing uses traditional techniques and channels such as TV, radio, trade shows, seminars, outsourced telemarketing, etc. that blindly uses sales pitches and sends promotions and advertisements to the masses – regardless of whether the audience has shown an interest or not.
Inbound Marketing Benefits
While your end goal is to turn prospects into paying customers, SMBs can benefit from inbound marketing in many ways:
A HubSpot survey found that inbound marketing cost per lead is 60% less than traditional outbound marketing, which of course produces a higher return on investment (ROI). At the center of inbound marketing is content – web pages, blogs, datasheets, e-books, case studies, videos, infographics, etc. – and once created, it’s yours to repurpose and use as often as you’d like. Companies that develop and execute a solid inbound strategy have found that after just 5 months, the average cost per lead dropped 80%.
- Expert Tip: Create content with the intent to promote, don’t let your hard work go to waste. Increase exposure by writing 10 social media posts and schedule those throughout the next few months. Be sure to link back to your article and encourage your followers to engage with your content.
Because inbound marketing draws prospects to you, you’re able to expand your potential customer base by using various marketing tools, like content, to nurture the relationship and build a customer base that promotes your brand. When it comes to budgets – companies spend 42% on content creation, and 70% of marketers are actively investing in content marketing.
This isn’t just about generating more traffic to your site. It’s about drawing the right traffic by using a more personalized approach, and this requires targeting multiple audience segments. The most common and successful approach is to market to three different audiences. Once the content has been created, you need to ensure that people can find it. This is where search engine optimization (SEO) comes into play. To increase your ranking, be sure to incorporate keywords within your content – especially in the title and first few paragraphs – to draw your audience to you.
Builds Trust and Credibility
Today, the majority (more than 85%) of consumers conduct online research before making a purchase. Once they’re on your site, be sure it provides the compelling and relevant content they need. While written content is a mainstay, it’s advantageous to also include videos. Most video marketers feel that video increases the understanding of their product or service.
Providing content that customers are looking for is just one piece of the puzzle. You also need to make it easy for your website visitors to communicate with you. The proof is in the pudding, with nearly one in three c-commerce (conversational commerce) buyers saying that they chat with businesses to determine if they’re trustworthy and credible.
It’s a fact, inbound marketing is more effective in generating leads than outbound marketing. Remember, you’re gathering the majority of your prospects through organic traffic. On average, inbound marketing practices generate 54% more leads than traditional outbound practices.
Increases Conversion Rates
It should come as no surprise that there’s a significant difference in conversion rates between inbound and outbound marketing. Inbound marketers double the average site conversion rate, from 6% to 12% total. And, when it comes to the type of marketing content, both blogs and videos rank high in turning visitors into customers. The frequency of blogging is essential, as 82% who blog daily acquire a customer, compared to 57% who only post monthly blogs. From a buyer’s perspective, 82% of people say that they were convinced to buy a product or service by watching the brand’s video.
Turn Website Visitors Into Customers with Inbound Marketing
As a powerful force, inbound marketing continues to make its mark on the landscape. Reaching new audiences and connecting with them to build lifetime customers is what inbound marketing is all about. Rethink your current strategy and join the other SMBs who will benefit from inbound marketing this year.
If you need help getting started or have questions about inbound marketing and need more information on how your business can benefit, contact our team, today!
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