The economy, consumer behavior and the way of doing business have changed more in the last ten years than in two centuries.
Consumers, beset by thousands of commercial messages, with immediate access to any product or service and exposed to global competition, have become selective and empowered at the time of purchase. Inbound Marketing focuses on this new type of customer.
Traditional marketing focused on gaining space and frequency has reduced its effectiveness, giving way to more affordable, segment-able and measurable digital media. However, most companies continue to use old strategies and tactics for new consumers and the media.
With Inbound Marketing, your company gains confidence and authority in the mind and heart of the consumer in a non-intrusive way, taking advantage of the new way of making decisions, to influence their buying behavior. This means more attraction to your brand, more people converted into customers and more loyalty, producing economic benefits that you can measure and demonstrate with facts.
Inbound Marketing is an attraction instead of instruction
It is a strategy and way of thinking based on the exchange of value through content aimed at specific audiences, according to their stage in the buyer’s route.
Educate the consumer about their problems, needs and ways to solve them, orienting them to choose your product or service when they are ready to buy.
Deliver tools and empower your customers, so they know and feel that your brand is their best option. This is something very important for a content agency.
How much does an inbound marketing strategy cost?
When we talk about investment and results, the answer will always depend. Yes, it depends on what objective you want to achieve, what challenges the company is facing, what digital assets they currently have, and how quickly they need to grow, among other things.
It’s like asking “how much does a car cost?”, the answer will depend on what you are looking for. An inbound marketing strategy can help you grow lead generation up to three times more on every dollar spent, reduce the cost of customer acquisition and increase your company’s sales opportunities. However, these results depend on the quality of the strategy.
In our experience, the investment of an inbound strategy can range from $2,500 to $10,000 per month. From our perspective, there is no standard price, it all depends on the needs, the current situation of the company and the value that we will add when reaching the objectives.
What does an inbound marketing strategy imply?
To understand investment in inbound, it is necessary to know what an inbound marketing and sales strategy imply:
- Strategy and planning: The success of the implementation of the inbound methodology in your company depends largely on the strategic approach. From understanding and defining the unique value proposition, developing buyer profiles, analyzing the purchase process of your customers, to establishing the objectives of the strategy and actions of the tactics. If your company does not have a strong inbound strategy, you could invest between $2,000 and $10,000.
- Inbound Marketing Software: While it is not mandatory to invest in inbound marketing software, it allows you to deliver results faster. In fact, many use HubSpot for each stage of the methodology, from attraction to customer loyalty. The investment can range from $ 200 to $ 2,400 dollars, depending on what you want to do.
- Inbound Sales Software: As in marketing, in sales, it is necessary to use a CRM to control the business process and improve business efficiency. The HubSpot CRM is free, but there are other options such as Microsoft Dynamics and Salesforce that cost from $ 25 to $ 150 per month per user.
- Strategy and content production: While anyone can write, not everyone does it with the quality necessary to capture more prospects. An inbound strategy should have a content map according to the purchase trip of your prospect. Content production is one of the tasks that require more time and effort but with greater importance. Typically a small business can generate a good amount of content for multiple uses by investing between $1,200 and $2,400 per month in its content strategy.
- Web design: Your website is the center of the conversion strategy. Since the inbound methodology consists of attracting visitors with valuable content to the website, to subsequently convert them to prospects and customers. A poor website reduces the impact of the strategy and may even prevent the conversion of prospects. If your company does not have a suitable website, you could invest between $2,000 and $10,000.
- PPC (Pay Per Click): While the recruitment of prospects for an inbound strategy, it is based on content conversion and relies heavily on SEO. SEO optimized content, cost-per-click campaigns, primarily on Facebook and Google, are necessary to disseminate content and increase lead conversions. The budget in PPC campaigns could be between $550 and $10,000 depending on the objectives to be achieved.
Signs that you need to invest in inbound marketing?
1. You fail to identify your customer
Although you must have carried out extensive market research, a problem like this may still occur. At this point, it is not clear who your customer really is, what are the demographics, and what lies in their scale of preferences. Knowing your consumer, researching and analyzing information about him is essential to interact effectively, achieve a high return on your marketing investments and keep customers who buy, recommend and defend your brand.
This is where inbound marketing can make a difference by creating a semi-fictional representation of your ideal client, which allows you to have a sensory and conceptual reference to develop a greater grip with your customers.
2. Unclear digital marketing strategy
You have been confused about which way to go. Your digital marketing strategy is not anything particular and you are trying out bits and pieces of everything on the plate. This is wrong and one of the reasons why your online venture is behind.
3. Irrelevant audience
Your blog reaches out to a segment of people but they are not your target audience. You cannot hope to market or advertise products and services to this lot because they are not interested. So, how do you escape this problem? Create a marketing strategy for your target audience.
4. You continue to face failure
As a content creator, website owner or marketer, you have tried different techniques in order to make your online venture. But all to no avail. This is where you rather need a strong strategy like inbound marketing which will streamline everything for you and make your efforts count.
5. Your platform is not reaching its potential
Without inbound marketing, you cannot gauge the true potential of your website. You have been investing and creating genuinely good and unique content but it still does not make the cut for you.
6. Your revenue is in negative
This is because you do not utilize the digital marketing trend of inbound marketing, it curbs the potential of your platform. Your efforts at selling and promoting have not been effective because they are not backed by the right strategy.
7. Poor Lead Conversions
There is a difference between lead conversions and actual sales. Even if you have a decent subscriber list, it may be a problem that your ROI is down due to no sales at all. In this case, you will need to invest in inbound marketing strategies. It might be that your newsletters are not as effective or your call-to-action fails to make an impact.
8. Content does not align with the buyer’s journey
Every buyer gets through a specific journey and this is where your content should be aligned. Typically, a buyer gets through the following phases before making a purchase:
An inbound marketing strategy allows you to reshape your content in accordance with every phases’ needs. It should carry the right call to let a customer identify options when encountering problems and promising enough to make a final decision.
9. Poor website
Inbound marketing techniques usually work in ways to stretch the value of your website. It could be that you currently have a poor website that fails to create real value in the eyes of customers. The cost of running and maintaining a website is higher than the return you get from it.
10. Ineffective reputation
Many content creators, entrepreneurs, and companies face a problem where they are not considered the “authority” brand by their target audience. They are likely to be persuaded by competitors who are more credible over the internet. This means, you do not have a sound reputation in the market and your customers have not recognized you as an ideal brand when it comes to certain products and services which you may offer.
In today’s digitally accelerated world, inbound marketing remains an outright fundamental step that every online business or content creator needs to have a grip on. The ROIs on inbound marketing strategies have proven to be remarkable, and it is a long-term action plan which would continue to yield results for your business.