Consider this; revenue is directly proportional to the amount of traffic you’re driving to your website, your conversion rates, and your average customer value. Ok, so how does your inbound digital marketing program measure up?
Cost-Time-Performance of Inbound Marketing
- Higher ROI - The cost per lead is 61% cheaper than traditional marketing. The average cost for one outbound marketing lead is around $332 compared to the significantly lower $134 cost of an inbound lead. (HubSpot)
- Generate More Leads - 54% more leads are generated from inbound digital marketing than traditional marketing. (HubSpot)
- Qualified Leads - Businesses that use marketing automation to nurture prospects experience a 451% increase in qualified leads. (The Annuitas Group)
- Generate More Sales - Nurtured leads produce, on average, a 20% increase in sales opportunities versus non-nurtured leads.
- Increase Brand Equity and Authority - Your brand refers to how your leads interact with and perceive your business. You cannot determine how your market will perceive your business but you can influence their perception. Inbound digital marketing allows you to connect with leads online, provide quality educational content that helps them make decisions. Creating quality content will help to enhance your brand online and establish your company as a thought leader in your industry. With an enhanced brand, it will be easy to make sales. According to the Custom Content Council, 61% of people are more likely to buy from a brand that delivers valuable content to them. (Custom Content Council)
- Improved Efficiency & Performance - An inbound digital marketing program delivers measurable data real time, which means you can make better marketing and sales decisions. In addition, you can align your marketing and sales processes, eliminating duplication of data entry, and reduce lost revenue from lack of lead management. In turn, this allows the sales team to focus on sales qualified leads vs. chasing leads that aren’t ready to close.
Still Not Convinced Inbound Digital Marketing is Worth It?
If you are still iffy on whether inbound digital marketing is an essential strategy you need to implement, then take a moment to reflect on the effect mobile use by your buyer is having on your ability to capture their attention and turn them into customers. Regardless of your type of business or service, your leads and buyers are mobile users!
- 48% of consumers start mobile research with a search engine (Smart Insights, 2015)
- 1 in 4 online searches is conducted on mobile devices (Webdam, 2014)
- 7% of email opens occur on a mobile device (Informz, 2014)
- Mobile subscribers tend to read emails throughout the day, with “off hours,” or non-work hours, being peak times for mobile opens (Informz, 2014)
- Google says 61% of users are unlikely to return to a mobile site they had trouble accessing. And, even worse, 40% visit a competitor’s site instead. (McKinsey & Company, 2014)
- Smartphones drove 33.7% of all online traffic compared to tablets at 12.4%, making it the browsing device of choice. (Marketing Land, 2015)
- 60% of global mobile consumers use their mobile device as their primary or exclusive internet source. (Social Media Today, 2015)
- 91% of mobile users say that access to content is very important (Wolfgang Jaegel, 2015)
- 57% of users say they won’t recommend a business with a poorly designed mobile site (CMS Report, 2015)
Ok the data talks. Your potential customer is online. Will they find you easily? Will they have a positive user experience on your website? Will they not be annoyed by you, but instead receive helpful, educational, relevant information that builds trust in you? Are you ready at every stage of the sales funnel to attract, nurture, and convert potential buyers? If you don’t embark on an inbound digital marketing program you won’t need to worry, your competitor will already be one step ahead of you reaping the benefits.