Inbound marketing is a term that has gained a ton of popularity in recent years. Marketing professionals can't deny that it's a much more effective and measurable way of generating new business than older traditional methods. So why doesn't every small business employ an inbound strategy? A lot of the time it comes down to educating and convincing the "powers that be" that inbound is an initiative worthwhile investing in. In order to help you make your pitch and join the 67% of marketers that have rated inbound as their top priority for 2017 we've narrowed down a few top level things your senior living CEO should know about Inbound marketing.
Inbound Marketing is NOT Conventional Marketing
Essentially, conventional marketing is interrupt marketing, which means that target audiences must be looking at or listening to something at the right time, in the right place, and with the right mindset. Companies must adapt, because trying to get these variables to align is difficult, costly and risky.
Inbound marketing uses automation to connect with target audiences when they’re interested in engaging. It’s a completely different paradigm and dramatically more effective.
Inbound is Data Driven and Results-Based
One of the biggest - and certainly the most legitimate - complaint that many CEOs have about conventional marketing, is that the metrics are often fuzzy and qualitative, and it can be impossible to accurately measure and monitor ROI, especially since most campaigns can run for months or even years.
Inbound marketing understands and agrees with this complaint, which is why the entire approach is fundamentally data-driven. Instead of gut feels and best guesses (that often turn out to be regrettable mistakes), inbound marketing empowers CEOs and other decision-makers with objective data and analytics that reveal both the big picture and the granular details.
And as a Result:
- Inbound marketing leads costs 62% less per lead than traditional outbound marketing. (Source: HubSpot)
- Businesses that use inbound content platforms and offer buyer persona driven content see a 45% increase in the volume of Sales Accepted Leads. (Source: Kapost)
- Businesses that automate their lead nurturing cycle see a 10+% increase in revenue within six to nine months. (Source: Gartner)
*Inbound Leads for Mid-Size Companies Cost 1/3rd as Much as Traditional Outbound Leads
It's Cost-Effective and Scalable
Two major problems with conventional marketing techniques is that they aren't cost effective and they aren't scalable. Running even a moderately-sized broadcast or media campaign can cost tens (or in some cases hundreds) of thousands of dollars, and expanding the messaging footprint into new channels or markets exponentially drives up costs and complexity.
Inbound marketing is extremely cost effective, which is why many successful small businesses exclusively use it to attract and nurture customers. What’s more, scaling is easy and efficient. Leveraging additional channels, targeting different buyer personas or geographic areas, or even running multiple concurrent campaigns can be done strategically and affordably.
"Inbound is about the size of your brain,
not the width of your wallet"
- Brian Halligan (CEO of Hubspot)