If you’re like me, you know the power of inbound marketing. But for some, it’s still a bit of an unknown. Yes, there are a lot of inbound success stories out there – heck, we’ve had a few of our own, too – but if you’re in the latter camp, you may still be wondering if you should take a risk with your business and pivot your marketing strategy.
Or, more simply, you may be asking yourself, “Does inbound marketing work?”
While we see the power of inbound under our own roof here at Quintain, we also understand why some might still feel a bit hesitant to move forward with such a shift in their approach to marketing.
The Proof is in The Pudding
In order to answer that question, we first need to look at what’s changed: the way consumers research and make their buying decisions. Individuals and businesses alike want to own more and more of the purchasing process, before they reach out to someone. People now research independently before even thinking about your company, much less talking with one of your salespeople.
That means it’s not enough to just use flashy outbound sales tactics or rely solely upon on word of mouth, especially since consumers are becoming more jaded and skeptical. (But if you’re unfamiliar with the new way buyers are moving through their purchasing journey, review here.)
So, what happens if you perform an objective search on the internet for inbound marketing statistics? Here are a few of my findings:
- 68 percent of online buyers will spend considerable time reading content published by a brand they are interested in. (The CMA)
- Online buyers go through about 57 percent of the buying cycle on their own without talking to sales. (Executive Board)
- 80 percent of business decision-makers prefer to get company information in a series of articles versus an advertisement. (cmo.com)
- Businesses that mainly rely on Inbound Marketing save more than $14 for every newly acquired customer. (State of Inbound Marketing)
- The average cost per lead drops 80 percent after five months of consistent Inbound Marketing. (Eloqua)
- Properly executed inbound marketing tactics are 10 times more effective for lead conversion compared to outbound methods. (Gartner)
These are some compelling figures, of course, but what we’ve learned at Quintain is that ultimately what makes inbound marketing work is the work you put into it.
Inbound is what you make it
If you aren’t committed to creating totally awesome content or being patient for the results, you could likely remain a skeptic, even if you put inbound into practice for your own organization. So you’ll want to decide prior to your endeavor whether you have the time to commit, or if you should consider working with an agency. If you want to understand the true power of inbound marketing, you need to just do it. If you try it out for a year, and find your traditional methods have been working better for you, you can always switch back!
Keep in mind, however, that the transition, while rewarding, is not without its challenges. It is not only a significant shift in your processes, it will be a change in your mentality about marketing. One of the biggest issues we see day in and day out is getting sales to embrace the change in buyer behavior and truly encouraging sales and marketing work effectively together.
If you’re thinking about taking the plunge, go for it! Or, if you’ve recently made the decision to switch to inbound marketing, let me know if you’ve had success or if you’ve faced challenges.