Are the benefits of inbound marketing really worth it? The clear answer is yes. Studies have shown that companies correctly implementing inbound marketing find that it is 10 times more effective for converting leads than outbound marketing. Inbound marketing is taking the lead in the marketing industry as more and more companies are choosing to adopt this strategy. As the usage of social media increases worldwide, being able to accurately understand and implement inbound is imperative to building ongoing customer relationships.
What is Inbound Marketing?
Inbound marketing is a method used within your organization
to naturally build long-term relationships with your prospects. The idea behind
inbound is to attract customers IN to your brand by providing value. This is
contrary to the more traditional outbound approach where brands are broadcasting
their message OUT to potential leads.
Difference Between Inbound Marketing vs. Outbound
Outbound marketing is the marketing we see used around us every day. Whether it is TV ads, banners, pop-ups on websites you enter, or even cold calling, these are all traditional ways companies reach their audiences, whether they are interested or not. Although outbound marketing can be beneficial in certain circumstances, it is not the preferred nor reliable way to build customer relationships.
Inbound marketing is a new way of gaining and building long-lasting customer relationships that are crucial to your business. Companies are using inbound strategies to find ways to connect with their target audience based on their individual business needs. Effective inbound marketing attracts, engages, and delights targets by providing experiences that are valuable to them. Examples of inbound marketing include things like blog articles, eBooks, and even your SEO strategy. Through properly targeted SEO, you help the right prospects find your website and engage with your content. Inbound can also include interactions through chatbots and social media listening.
HubSpot’s Approach to Inbound
100,000 customers in 120 countries, HubSpot is the undisputed leader of inbound
marketing. The company’s CEOs are actually the ones who coined the term many
years ago when they recognized how the internet was changing marketing
practices. Their usage of this inbound marketing method is a core part of what built
their empire into one of the leading CRM and marketing platforms in the
away from the traditional marketing funnel to create their own version – the
flywheel. The flywheel model views marketing as a cyclical path. Strangers
attracted to your brand through inbound strategies soon develop into prospects
that engage with your brand. If you can convert those prospects into customers
and continue to delight them, they become promoters of your business,
recommending your products or services to their peers. The overall purpose of adopting HubSpot’s
method is to provide consistent excellent experience that builds your promoter
base and grows your business.
How can HubSpot’s Inbound Marketing be Achieved?
These steps are simple, yet, crucial to creating continuing
relationships with your prospects, consumers, and customers.
Step 1: Attract new prospects with content
that fits their business needs. This content must be individualized and
valuable. It should help prospects identify you as their trusted consultant by
highlighting your expertise on the subject matter you’re providing. Attracting
the right prospects through inbound marketing requires careful planning and a
deep understanding of your audiences and their pain points. Without analyzing
and understanding the gaps that exist for your customers, you won’t know how to
truly provide value.
Step 2: Engage these prospects by presenting
knowledge and curated content that addresses the pain points you’ve discovered
and provides solutions to their business goals. In this stage, you’re deepening
the relationship by transforming strangers into prospects. They are beginning
to recognize you as a valuable ally to achieving their vision for their
Step 3: Delight your customers by providing continuous
expert support to ensuring their long-term success with their purchase. By
serving up smart content based on their interests and past behavior, you’re
showing your new customers that you truly understand them. Customers will
appreciate and respond to personalization that feels genuine. In turn, their
perception of your brand will be a positive one.
Once you deliver victories to your customer, that customer
will share their victories with others, which restarts the process in attracting
Benefits of Implementing HubSpot’s inbound Marketing
Overall, content marketing costs approximately 62% more than traditional outbound marketing, however it triples the leads. That is huge! Understanding the advantages of inbound marketing can help you identify how this approach will benefit your business.
The primary benefits of using the inbound Methodology are quite simple:
- Prospects will begin to identify your services
as a need for their company
- You become your prospects new trusted Expert
- Prospects will begin to refer their friends
- Boost Sales and revenue Growth
- It saves Time & Money
- More consistent results of what is working vs.
what is not working
Start thinking about how inbound methodology could work for
your business by asking questions like: Am I currently doing more inbound or
outbound marketing? Is my current strategy helping us reach our marketing
goals? How valuable is this method for my business in the long term? What are
the advantages/disadvantages of using this method?
As a certified HubSpot partner, Technology Advisors can help
you answer these questions and take full advantage of HubSpot’s inbound tools. Inbound
can be mixed with outbound marketing, or you can shift your focus entirely to
inbound as HubSpot has successfully done. Understanding where your business
lands in that spectrum requires some reflection, some analytics, and (we like
to think!) some help from TAI.