Inbound Marketing = Increased Lead Conversions
Let's talk online marketing and what it will do for your bottom line.
Here are Followbright, the flavor of online marketing we use is inbound marketing (sometimes also referred to as content marketing). Inbound-based marketing tactics are more effective than other online marketing styles (and of course far, far more effective when compared to traditional advertising and marketing tactics like radio and phonebook ads).
What's inbound marketing?
I'll tackle answering that question by first explaining what inbound marketing is not.
Inbound marketing is not outbound—that is, it's not print advertising, broadcast, trade shows, or direct mail, which are all types of media and marketing programs many of our clients are paying for when they come to us looking for online marketing help.
Night & Day
Unlike outbound marketing, where the objective is to find customers, with inbound the objective is to help customers find you.
We actually have an entire page on our site dedicated to explaining the ins, outs, and wonders of inbound marketing. Have a look.
HubSpot (makers of the integrated online marketing software platform we use here at Followbright) literally wrote the book on inbound marketing. The company practices exactly what it preaches with search engine optimization, social media marketing and the creation of volumes of free content to educate potential prospects.
Amongst the plethora of information they publish, HubSpot conducts an annual State of Inbound Marketing Report, designed to track the actions of marketers in these rapidly changing times.
Survey says: leads cost less.
In its most recent study, HubSpot surveyed 972 marketing professionals and extracted five main conclusions from the results. As they have in the past, they reported that the first—and perhaps most obvious—benefit inbound marketers testify to is:
"Inbound consistently delivers a cost per lead dramatically lower than outbound."
The survey found that businesses that allocated 50% or greater of their lead generation budget on inbound marketing channels enjoy a 61% lower cost per lead than those that remain focused on outbound marketing.
The study digs into specific marketing channels for further insights regarding the costs of leads and reveals that blogs, social media and organic search win the top three spots for lead channels delivering the lowest costs per lead.
Conversion is why the smartest online marketers are converting to inbound.
If you're wondering if lower cost leads might also be lower value leads, scratch that thought from your head. The 2012 survey provided these numbers:
- Organic traffic leads are 8x more likely to close compared to leads from outbound marketing.
- Leads that come by way of links from other websites are 5x more likely to create customers.
This makes sense. Prospects produced by inbound marketing tactics are generally doing some sort of research or following-up on a recommendation. Their trust level is higher. In other words, these leads are much more like the types of leads you'd receive from referrals than the types of leads generated from cold-calling.
Get more inbound marketing answers.
HubSpot asked its survey participants a good many questions and collected valuable, illuminating data.
If you'd like to learn more about which media channels generated the best results, the correlation between content generation and customer acquisition, the most prolific lead sources and more, you'll want to get a copy of the report here.