We introduced inbound marketing to Cyprus this August, focussing on in our resources and material on its efficiency and cost-effectiveness. In our ROI-driving engine infographic we analyzed cold hard facts showing the average cost-per-lead of inbound marketing is less than half of outbound marketing leads.
It’s great that we, EworksWSI Cyprus, know how and why inbound marketing saves us money, but for our clients in Cyprus we need to “show don’t tell,” providing
detailed explanations rather than simply make a statement you should accept as fact. There are many articles about the efficacy of inbound marketing,
most of which can be summed up in once sentence: “inbound marketing just works better.” Indeed it does, but here are some examples of how inbound marketing
saves you real money:
Inbound Maximizes Your Time
When it comes to marketing, time is money. You’re either paying for somebody's time or using your own in order to attract clients or customers. If the time you’re spending (or paying for) doesn’t create something that extends beyond the finite number of minutes or hours put into it, you could argue the time is being wasted. Not wasted in the sense that work isn’t being done, but rather because of the cost of the lost opportunity for not adopting an inbound marketing strategy, that generates returns long after its implementation.As an example, consider the practice of cold calling to generate new business. Let’s say you spend four hours calling potential clients you’ve never had any contact with. You’re essentially dedicating four hours in hopes of finding a new customer; once the four hours are up, if you haven’t made a sale, you’ve wasted that time.
Inbound marketing saves time, and therefore money, by investing in tactics with the ability to generate new business both now and in the future. Things like blog posts, whitepapers and videos that answer the questions of an existing audience. Once you write a post addressing the legitimate concerns of a group of people, you could potentially generate a new customer the day you publish it, the week after, five months down the road, or a full year later. There’s really no limit like there is with the four hours of phone calls.
Sure, some resources will bring you more clients than others, but that’s where the analytics side of inbound marketing comes into play. The crux of the time saving argument for inbound is that it shifts your focus away from activities with limited potential.
Inbound Evolves With Technology
One of the things about inbound marketing that’s immediately obvious once you start talking to other marketers in the community is it operates on the cutting edge of advanced technology. If you adopt an inbound strategy or work with an inbound marketing agency, you’ll quickly realize you don’t need to worry about having an outdated website or being targeted by one of Google’s many penalizing updates. The inbound community, which we consider ourselves a part of, is all about evolving with technology.
How many times do you hear of businesses that are constantly updating their digital properties because they’re always behind the curve? In the digital world, reacting is losing. You have to be proactive. Inbound saves you money because keeping up with the constant evolution of technology is part of the ideology’s foundation
Inbound Builds Value
Getting the most value for each marketing dollar you spend should be the goal of every campaign in existence. But it’s not. Many businesses and marketers don’t have the time to make sure what they’re doing is the most optimal option, which results in unnecessary spending.
With inbound, getting value is already factored in because that’s the point. If you think back to the cold calling vs. inbound resource creation example, which activity would you say builds value for a company? While you’re on the phone for four hours, there’s a chance you could make a handful of connections, if not a sale or two. But how many of your personal and professional circles are full of people whom you cold called? I didn’t think so.
Cold calling, like many traditional marketing methods, is no more or less than itself. It’s just cold calling. Inbound marketing activities seek to build a company’s value in the eyes of its target audience. Over time, value, trust and loyalty is what draws customers to businesses - not phone calls.
Inbound Demands a Strategy
The best characteristic of inbound marketing is that it can’t be done without a strategy. Of course it can be done theoretically, but you won’t find an inbound marketer willing to do anything inbound-related without setting goals and devising a plan for accomplishing them. That’s just how we roll. But seriously, that’s the way it should be. Do you go on road trips without Goolge Maps? Start a business without a plan? Draft a fantasy football team without doing extensive research and printing off rankings cheat sheets? I certainly hope not!
Inbound marketing saves you money by being the whole package. The requirements of an inbound marketing campaign just so happen to be components that streamline,
maximize and optimize your efforts and investment. And when it comes to saving money, those are the words you want to hear.
Based on a post from WSI Author: Lyana San Pedro
More Resources on Inbound Marketing in Cyprus:
To show you how to take advantage of the benefits of Inbound Marketing in Cyprus, we created a short video on How To Improve Customer Engagement With Inbound Marketing:
How To Improve Customer Engagement With Inbound Marketing by using Email Marketing but without annoying your customer base.
Enhance Customer enagement with email marketing, but done correctly, without annoying your customer base.607kb - 27-Aug-2015 - Download - Save for Later
Buyer personas are fictional, generalized representations of your ideal customers. They help you understand your customers (and prospective customers) better, and make it easier for you to tailor content to the specific needs, behaviors, and concerns of different groups.1516kb - 27-Aug-2015 - Download - Save for Later
Blog post: Inbound Marketing increases ROI
SEO, social media, email marketing, landing page optimization, etc, are all components of inbound marketing. Your inbound marketing strategy – when done like a pro in Cyprus – defines how your audience interacts with your brand, determines how your sales team engages with customers, and (surprise, surprise!) drives your ROI.
27 August 2015