Most people, especially those that work in marketing, would agree that marketing on its own is a pretty broad term. And as technology advances and we find more and more ways to communicate with one another, things can get even more muddled with buzzwords, platforms, and strategies. Today we’re going to talk about just one of those of-the-moment marketing concepts that is near and dear to ManoByte: Inbound Marketing
When you think of old school marketing, you might think of things like mailbox flyers, coupons, or unsolicited phone calls. These are all examples of outbound marketing. It makes sense if you think about it. When you send a mailer to a potential customer, it’s going from your office to their house in an attempt to get their attention. So then, what would the opposite of that be?
Inbound marketing lets your potential customers come to you by virtue of who you are and what you’re contributing to their life. Inbound marketing can refer to virtually any type of content marketing, including podcasting, blogging, SEO, and of course social media. When you use these different platforms to create interesting and attractive content, you are drawing the attention of tons of potential customers who can find, consume, like, and share it.
So what are the advantages of using inbound marketing rather than traditional marketing techniques? For one thing, the leads companies see from inbound marketing techniques are, in general, significantly cheaper than those leads that come in from outbound marketing. In fact, the cost per lead for inbound marketing has been shown to be as much as 60% less than for comparable outbound marketing techniques. Talk about cost effective lead generation!
Even better news: those leads are more likely to become customers. That’s right, inbound marketing gives you higher quality leads that can be 5, 8, 10 times more likely to convert than a lead who found you through traditional marketing means.
Keep in mind that not all inbound marketing is created equal. For example, the type of business you are looking to attract is an important consideration when it comes to choosing what channels you should be using. Facebook is more effective for B2C marketing while LinkedIn has shown results for B2B marketers. There’s more data where this came from, but unfortunately we don’t have time to dive into strategy today.
Suffice to say, inbound marketing should be in your vocabulary if you want to make the most of your marketing dollars.
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