The ins and outs of how digital marketing works and whether traditional marketing works with digital marketing leaves many business owners scratching their heads. Sound familiar? According to Hubspot, inbound marketing (organic digital marketing) is a new way of marketing that focuses on getting found by new customers while outbound marketing is the traditional way that focuses on finding new customers. See the difference?
Any marketing agency worth their salt uses all avenues of marketing to some degree but in today’s internet-focused society, the inbound method reaches new clients more effectively. Outbound marketing uses telemarketing, spam, junk mail, and television and print advertising to reach customers. But with technology like DVR, caller ID, and spam blockers on every email platform, these methods simply don’t work quite like they used to. That’s where inbound marketing comes in.
This marketing method uses today’s top digital avenues--blogs, social media, videos, and search engine optimization--to bring the clients to you. Millennials and Gen-Xers are technologically and research-savvy shoppers who would rather hop on Google to find new products or services than scour magazines and television for the right ad to come along.
However...and this is a big however, incorporating inbound strategies into your current marketing strategy doesn’t necessarily eliminate outbound strategies. Actually, inbound methods support traditional marketing by linking the two together. For instance, if your current marketing strategy includes commercials on your local television network or radio station, tweak your ad to include your social media and website info.
As a millennial who was in college during the dawn of Facebook, I can personally attest to the fact that I don’t go anywhere or buy anything new without first researching the product or company on social media. There I can find reviews, videos, links to websites and blogs, and enough general info to get the gist of what a business or product is all about. We millennials are all about convenience and making the most of our time and for us, saving time means saving a trip with a few clicks of a mouse or tap of a phone. Why should you care how millennials shop? Because recent statistics show that Millennials and Gen-Xers spend 50% MORE time shopping online than older generations.
Need one more reason to add inbound to your current marketing plan? In addition to being the preferred way to market in 2018, this strategy has been proven to be much more affordable than traditional outbound methods. Just take a look at these stats:
- Business that mostly rely on inbound reportedly save more than $14 per new customer according to 2017’s State of Inbound report.
- Done correctly, this marketing strategy costs more than 60% less than traditional outbound methods.
- Eighty percent of decision makers in businesses prefer gathering brand information from an article series over advertisements.
- Seventy-seven percent of B2B customers prefer to perform personal research before speaking with a sales representative.
- Sixty-eight percent of online customers admit to spending a considerable amount of time reading content by their favorite brands.
- The average cost per lead in inbound marketing drops around 80% after five months of consistent inbound efforts.
- B2B companies that post new blogs once or twice a month generate 70% more leads than companies that don’t have a blog.
- Inbound methods produce 3x’s more leads per dollar than traditional methods.
Now that you know you need inbound in your business life, it’s time to take the next step and learn how to implement these methods into your current marketing strategy. At Momentum, we understand that learning this new way of marketing can be overwhelming and we want to help you avoid that stress. We offer a completely free one hour consultation during which we’ll take a look at your current strategy and goals and then develop a plan to meet those goals with our proven inbound methods. Contact us today to schedule your free consultation and in the meantime, check out this great article we wrote about using inbound and outbound methods for quick growth for your B2B company.