Inbound marketing is a relatively new concept for most. With our ever changing technological world, Inbound Marketing harnesses the power of technology to create marketing strategies that are proven to increase ROI.
Inbound marketing is gaining in popularity over traditional marketing. 60% of leading Marketers have already adopted Inbound Strategies. Furthermore, traditional marketing tools such as telemarketing, direct mail and trade shows are become less important to companies (Source: HubSpot).
Why such an increase in Inbound use? Bottom line, it's effective and cheap!Inbound marketing delivers up to 54% more leads into the marketing funnel and cost 61% less than those leads generated by traditional marketing (Source: Search Engine Journal).
So what sets Inbound Marketing apart from its counterpart, it's approach. It is based on a one-on-one relationship with prospects and customers. Understanding, engaging and building a positive long-term relationship with them. Inbound Marketers act as an advisor, offering expert advice and educational guidance to customers throughout the buying process. The following chart depicts the cycle of the Inbound Marketing Strategy. Each segment of the strategy has a different goal in the relationship process with the intent of building trust, creating a sale, repeat purchase or turning clients into promoters of your brand.
When using Inbound Marketing, the tactics used to carry out each strategic segment are based on content. Content is your company's voice in creating a relationship and the tactics are the vehicles to get you there. But not all content is created equal. The content you disseminate must be of value to your prospects or clients. The customer is looking to you for answers to a need. Content must be relevant to that need but also be created in an easy to digest and interesting manner. The content must also be situated where a prospect is, online. The following chart illustrates the tactics used to disseminate content in Inbound Marketing Strategies.
Finally, before we can start creating an Inbound Marketing Strategy, we must understand our prospects and customers. Unlike the traditional "Target Market", Inbound Marketing requires a deep dive into who the prospect or customer actually is. An audience analysis is required and developing a buyer persona. We will outline ways your business can conduct an audience analysis and create a buyer persona in a later post.
In our next post we will get into further detail of each segment of an Inbound Marketing strategy and how you can apply them to your business.