"The trouble with most people is that they think with their hopes or fears or wishes rather than with their minds. "
- Will Durant
It is an indisputable fact that marketing has changed drastically over the years. Hence, it is important to find the most effective ways to get leads by spending your marketing budget easily.
The issue with digital marketing is that customers have a pool of online information. The potential clients are already flooded with breaking news and social posts. So the question is, a business owner or CMO, how do you reach these individuals and make the most of digital marketing?
Throwing digital information at consumers to buy your products are not as effective as you think when your competitors are just doing the same. There can be a possibility that you will find your marketing dollars positioned between posts of “Free PC Cleaners” and “The Secrets to a Six Packs in Two Weeks.”
The goal of an online marketing strategy should not add more to this chaos but guiding customers out of it. And that is the purpose of inbound marketing.
Inbound marketing is all about attracting the right customers at the right time by producing quality content. It is customer-centric and personalized as opposed to product-centric marketing. Instead of wasting marketing resources on individuals who are not your target audience, inbound focuses on connecting businesses to leads with the highest intensity to become customers.
In this article, let us understand how to attract customers and grow your brand. Inbound marketing harnesses the power of your company’s website to generate traffic and leads, automate the marketing process, acquire customers, and understand your cost per lead more effectively.
Cost-effective Marketing –
Inbound marketing is cheaper and more effective in comparison to outbound marketing. And this is because instead of blind-firing your messages to places where your audience ‘is,’ your audience which will come to you. You learn about your audience thoroughly, and this way, you are able to classify your audience and give them better service.
The efforts will go into attracting individuals that offer you something. It is useless to spend marketing resources on individuals who do not want or need your product. There is a possibility that after 100th time they might give up, but at that time, you could have found the perfect customer.
It is quite easier to gain leads from individuals who are interested in something you offer. And that’s why inbound marketing delivers 54% more leads. It is quite similar to matchmaking service; it ensures a better connection between you and your customer.
Now, what is the actual cost of inbound? Lead to lead; the inbound marketing costs 62% less than traditional outbound marketing? There are various free content producing platforms such as blogs and social media. Hence, while considering the highest ROI, it is important to measure through greater lead conversions and lower costs.
Improved Customer Relations –
The main concept of inbound marketing is that it has a customer-focused strategy. And the evidence is improved customer-business relations. This is usually accomplished by offering content and learning about customers.
Inbound marketing involves providing valuable content to potential buyers so that more insight can be gained. For example, let us take an example of two companies that writes a blog post on how to make better coffee or a company engaging in conversation with potential customers using Twitter. The former and latter provide the perfect opportunity for businesses to acquire leads by offering high value to customers.
Also, the value can be exchanged so that information can be gained on how to serve customers in a better way.
Apart from offering value to your customers, you can also get in touch with them through improving your brand, increasing sales, and doing marketing.
To put it in simple words, offering extraordinary customer-centric content and service will eventually build brand credibility through perceived expertise.
The gist is that content allows us to be easily shared and increase loyal customers.
Think of that time when you trusted your friend to try a small restaurant down the road that you even did not about its existence. But you still went ahead and tried. People trust people, not companies.
So, apart from gaining more exposure, the odds of acquiring leads from exposure will be improved.
Return on Investment and Metrics is Visible –
Inbound marketing can leverage your business by providing a transparent measure of your marketing initiative’s success.
A transparent marketing campaign allows your company to see the improvement areas. This improves the overall functioning of the company, informing you whether it requires any improvement or not.
There is no doubt that it is difficult to justify the money spent on a marketing plan that you can’t even tell is working, let alone whether you should spend funds. If you can’t tell that whether selling a coffee blog is giving any return, why would you consider spending more on it?
Inbound marketing uses data to give insight into what marketing efforts develop. Through data tracking visitors and their click actions, inbound will allow us to see the effects of marketing.
To conclude, it is quite evident that Inbound marketing can benefit anyone’s business in the digital era. Cost-effective marketing, improved customer relations, and visible ROI and metrics are the main ways that can help you to compete from your competitors.
However, traditional marketing is outdated, but it is important to use it when it comes to the digital domain.