The ROI Of Inbound Marketing
Inbound Marketing has become the most successful strategy of online marketing due to its higher return on investment. The evolution of marketing changes the system by linking your content with your customers interests, tracking the reaction of each effort, tailoring the future actions to past reactions, allowing you to convert your followers into leads, leads into customers, and customers into promoters.
Inbound marketing strategies such as Growth Driven Design collects activity data constantly. The impact of each activity is tracked and analyzed, giving inbound marketers the power position of acting instead of reacting. The more data is collected and analyzed, the better decisions you can take. This saves you money, time, and increases your ROI.
Instead of the old Outbound Marketing methods of pouring money into ads, email lists and hoping to capture the attention of random people who have no interest in your deal, Inbound Marketing's smaller costs are intelligently applied to create quality content designed to naturally pull in your targeted customers.
Inbound Marketing Cost and Budget
More and more brands are planning to cut down on outbound marketing costs and increase the budget for Inbound Marketing. Inbound leads cost less than outbound leads, so businesses that mainly rely on Inbound Marketing save more money for every acquired customer. The cost of 3 out of 4 Inbound Marketing channels is less than the cost of any outbound marketing channel (Mashable).
The goal of inbound marketing is to pull the right traffic; people that will most likely become leads and happy customers. Buyer persona is the personification of the ideal customer with habits, preferences, and demographic information common among all the members of that specific customer type. They are the foundation on which your business evolves.
Buyer Persona: Habits and Preferences
Online buyers will spend considerable time reading content published by a business they follow, and many will search through plenty of content before checking your brand's website. For business decision makers, getting information from articles is preferred over in-your-face adds.
Online buyers go through about half of the buying process on their own and a great majority of internet buyers search via Google . A major percentage of online audiences immediately leave a website when they come across intrusive advertising, preferring permission-based promotions via email.
The trick to Inbound Marketing is to produce content that targets capturing the buyers attention, answering their questions, and distributing that content on all possible platforms to reach as many prospects as possible. Some of the most important tools to attract the right users to your site are blogging, SEO (Search Engine Optimization), web pages and social media.
The content must evolve as you learn more about your leads and closing customers over time, so that your brand can speak more directly to its buyer persona. Are you getting enough information from your clients? Find out if you are collecting the necessary data to see the ROI of your online marketing.
Inbound Content Creation and Production
Marketers diversify their Inbound Marketing tactics across various channels, such as blogs, e-newsletters, social media, eBooks, whitepapers, video marketing, etc. When determining the best plan for increasing ROI, business owners should also consider the ROI of app development and ROI of mobile apps. Mobile presence is extremely important for inbound marketing, leading to the big question: does your business need a mobile app or a mobile website?
41% of marketers worldwide prove inbound marketing results in measureable ROI, and 82% of marketers who blog, see positive ROI for their inbound marketing (Invesp). A blog is the best way to attract new visitors to your website. Frequency is also key, as marketers who blog daily acquire more customers as opposed to marketers who blog monthly.
Some marketers have a documented Inbound Marketing strategy and most companies rate Inbound Marketing as a very high priority component of their overall marketing strategy. (Kapost).
Once you’ve attracted website visitors, the next step is to convert those visitors into leads by gathering their contact information. You can do so by offering them incentives in form of content that is necessary or interesting to them in exchange of their contact info.
Some of the most important tools for Inbound Marketing lead generation include forms, calls-to-action, landing pages and contacts.
Inbound Marketing Lead Generation
Lead conversion is 10 times more effective when executed with suitable Inbound Marketing tactics, converting 3 times more leads per dollar than Outbound Marketing (Gartner, Kapost). The average cost per lead drops 80% after 5 months of consistent Inbound Marketing (Eloqua).
According to HubSpot, Inbound Marketing can result in doubling the average website conversion rate from 6% to 12% and, on average, brands that publish 15 blog posts per month convert 1,200 new leads per month.
What tools close the deal to enhance Inbound Marketing ROI?
With Inbound strategies you’ve attracted the right kind of leads, and now you must use the most effective method to transform those leads into customers. At this point, marketing tools such as CRM, Closed-loop Reporting, Email, and Marketing Automation Software can be used to make sure you’re closing the right leads at the right time. For instance, 44% of brands that use marketing automation software see ROI within 6 months, while 75% see ROI after one year. (Groove Digital Marketing)
The Impact of Inbound Marketing on ROI
Inbound Marketing strategies drive more traffic, generate more leads, produce more customers and multiplies brand awareness in the form of promoters. This low cost marketing strategy is three times more effective than Outbound Marketing. Companies that create buyer persona driven content on inbound content platforms see a 45% increase in the number of Sales Accepted Leads (Kapost) and that is only the beginning of the ROI of Inbound.