Inbound Marketing, the process of "getting found" by prospects who are looking for your products/services, has been described by Brian Halligan (Hubspot founder and CEO) as marketing with your brain instead of with your wallet.
Here are eight reasons why you should stop the outbound, and bring in the inbound:
1. Inbound marketing has the power to attract people to your products and services.
With traditional outbound practices, imagine your self holding a sledge hammer, and beating people over the head with your message. Billboards, print advertising, radio, TV, trade shows, etc. With inbound marketing, imagine yourself holding a horseshoe-shaped magnet, attracting people to you.
2. Traditional advertising is not working.
Technology has changed the way we exist as human beings. Consumers are savvy and have indicated by their behaviors that they do not want to be screamed at by an over-crowded business market fighting for their money.
3. Consumers are becoming better at blocking out traditional media messages.
Eighty-six percent of TV watchers skip TV ads, 200 million of the 300 million US citizens are on the Do Not Call List. There is a 46% decline in tech trade show spending. And 44% of people never open direct mail. Therefore, marketers are shifting their budgets away from this "interruption" advertising.
"Audiences everywhere are tough. They don't have time to be bored or brow-beaten by orthodox, old-fashioned advertising. We need to stop interrupting people, and be what people are interested in." --J. Walter Thompson, Chief Creative Officer of Worldwide (World's 4th Largest Ad Agency).
4. The way people buy has changed.
The internet has fundamentally changed the way people find, discover, share, shop and connect. Worldwide, there are 88 Billion searches on Google per month. Forty-six percent of daily searches are for information on products or services.
"Many Americans begin their purchasing experience by doing online research to compare prices, quality, and the reviews of other shoppers. Even if they end up making their purchase in a store, they start their fact-ﬁnding and decision-making on the internet.” --Jim Jansen, Senior Fellow, Pew Research Center's Internet & American Life Project.
5. Your audience is online.
More than half of all US residents and more than 3/4 of US adults are online. One-third of these consumers are spending more than three hours each day online. Many of the things we used to do offline have shifted to online: Get the news, send mail, do product research, rate or review a product, BUY a product.
6. It costs less to acquire leads through inbound marketing than through traditional outbound marketing - 62% less!
Inbound marketing is a lot more cost effective. The average cost to acquire a lead with outbound marketing methods has risen to $373. With inbound marketing, the average cost per lead is 62% less. Inbound marketing requires a fat brain, not a fat wallet!
7. Inbound marketing is about lead generation and increasing sales immediately.
So your website gets a lot of traffic (or maybe it doesn't yet), but are you generating leads from it? Do your prospects know what you want them to do once they get to your site?
The core methodology of inbound marketing is simply three things: (1) Get Found - help your potential customers find you online when looking for your products and services; (2) Convert - Once potential customers find you online, provide Calls to Action and nurture them through the buying process; and (3) Analyze - Measure and improve your marketing.
8. Inbound marketing will make your CEO happy.
On average, inbound marketing can account for a 200% return on investment, 62% lower cost per acquisition, 9% higher lead value and it's 100% measurable!