What Is Inbound Marketing? Advantages And Disadvantages Of Inbound Marketing?
What is Inbound Marketing?
Inbound marketing is a marketing method that attracts visitors and potential customers rather than outwardly promoting a brand, product, or service in the hope of lead generation or customers.
Inbound marketing is a strategy to engage potential customers with content and experiences they find useful. Using mediums such as blogs and social networking, marketers hope to entertain and inform viewers with the content they seek by themselves.
Inbound Marketing Methodology
The underlying approach is to offer the right content at every stage of the buyer’s journey: attracting the right visitors to your website, converting them into qualified leads, closing more sales, and making your customers happy.
The 4 stages of the inbound marketing methodology are Attract, Convert, Close, and Delight.
By following these steps, customers can remain anonymous and become a promoter of their brand! At each stage, there are certain methods by which this transformation is achieved. It is important that your marketing actions are timely and targeted, and that the process is aimed at helping you achieve your goals.
- STEP 1. ATTRACT-:
Attracting prospects is the first step in the inbound marketing method. As a business, you want to attract individuals who can potentially become your customers. These individuals are called buyer personas, and they are at the heart of your inbound marketing efforts.
Attracting your buyer personas requires a focused inbound marketing strategy that starts with quality content creation. Your organization can create that content through search engine optimization, blogging, and social media marketing to deliver that content to your prospect in the right place and at the right time.
- STEP 2. CONVERT:-
Once you have attracted your buyers to your brand, the next step is to convert them into marketable leads. This requires lead parenting and you will need to obtain the contact information of your site visitors to start the process. Contact information is currency to the inbound marketer.
- STEP 3. CLOSE:-
The next step in the inbound marketing method is the “closing” The closing stage is where customers are converted into customers. Since this goal is consumer-focused, the process is typically a combined sales and marketing effort. By the end of this step, your lead should be “sellable” and ready to buy.
- STEP 4. DELIGHT:-
With inbound marketing, you don’t leave customers after you buy them. Your goal is to establish brand loyalty, and in order to do so, you need to continue to show your customers that you still value them. By making your customers happy, you will create more sales opportunities – not only with your existing customers but also with those who share their positive experiences!
An inbound approach to online marketing will undoubtedly give your company a lasting competitive advantage.
Start your inbound marketing strategy today!
Let’s take a look at the 4 Advantages and disadvantages of inbound marketing for both small and large businesses.
Advantages of Inbound Marketing
COST-EFFECTIVE THAN OUTBOUND:-
Inbound marketing allows you to attract your best prospects – and those who are actively looking for solutions online. In fact, inbound marketing is more profitable than outbound marketing. In a recent HubSpot survey, businesses consistently reported that the cost per lead for inbound marketing is at least 60% lower than the cost per lead for outbound marketing.
HIGHER RATE OF CONVERSION:-
Did you know that the average inbound lead costs 61% less than the outbound leads and 3 out of 4 inbound marketing channels cost less than any outbound channel?
Inbound practice generates 54% more leads than traditional or outbound marketing methods.
BUILDS LONG TERM RELATIONS AND CREATES TRUST:-
Inbound marketing is a visible strategy. It’s all about the collaboration and credibility of the exact audience.
Inbound marketing helps build a significant trust component to your niche market without incurring any financial cost and no expert interviews.
BUILDS BRAND CREDIBILITY:-
Credibility is more about the clarity, enthusiasm, and consistency of the information presented.
Using inbound marketing techniques helps to build a credible reputation. Using Inbound forces you to create your content with a human voice to be consistent in your content when you leverage it on each channel, and to stick to it.
Disadvantages of Inbound Marketing
VERY TIME CONSUMING:-
Content creation takes time, it takes time to reformat existing content, it takes time to publish content, it takes time to build an inbound marketing strategy. The whole process is much more of a slow burn than outbound.
Inbound marketing is like a slow food pace: It’s revolutionary only because it prioritizes consistency and slow build-up improvements. You cannot expect results in a few months.
RESULTS ARE SLOW:- (min 3 Months)
Campaigns require a constant investment of time to produce sufficient quality content to be useful. The effectiveness of an inbound campaign becomes apparent only three months after the campaign is established, and the results can be more difficult to measure.
REQUIRE HIGH SKILLED MARKETING TEAM:-
Inbound marketing requires a strong and diverse skill set, which includes web design, content writing, SEO, and social media expertise. A small company with a small marketing team can struggle because it is relatively unrealistic to expect all of these skills from one person.
TRACKING ROI IS DIFFICULT WITHOUT WEB ANALYTICS:-
Keep in mind that inbound marketing is a long-term approach that sets up your business to systematically generate leads and run practically on autopilot.
It doesn’t come easily. You have to produce and promote content regularly for over a year on average to start seeing returns.