small business inbound marketing lead generation vs outbound

Inbound Marketing vs Outbound | What, Why, and How Much?

How Inbound Marketing Differs

That is to say inbound marketing differs from outbound marketing. Understanding inbound marketing is helped by first reviewing what outbound marketing is.

Outbound marketing is where you send you advertising message out into a large audience. Examples of outbound market are:

  • Radio commercials
  • TV commercials
  • Ads in newspapers and magazines
  • Banner ads on websites
  • Banners on buses
  • Direct mail
  • Etc

The defining characteristic of outbound marketing is you send your marketing message out into a large audience with the fore knowledge that most people who see it don’t care. They’re not buyer now and possibly not ever.

Inbound marketing on the other hand is you making it easy for people to find you when they have an interest or need.

Inbound marketing is fairly new as it relies  primarily on Internet search as a means of being found.

It’s clearly less obtrusive, but it has many more benefits as well.

Inbound Marketing is a lot Cheaper

Per HubSpot who conducts a State of Inbound Marketing study every year, leads from Inbound Sources cost only 29% of what leads from outbound sources cost.

The costs of Inbound Marketing are:

  • Your domain name
  • Your website
  • Website maintenance fees
  • Content creation
  • Social media distribution tools
  • Email marketing tools

And while these do cost money, compared to placing ads in newspapers and magazines and direct mail, Inbound produces significantly better results with significantly less expense.

Leads Produced are of Higher Quality

When you think about it, this makes sense. They found you because they did an Internet search. If they bother to fill out the form on your website (which is when they become a lead) they’ve expressed an interest. If they did not express an interest, they would not have filled out the form.

Can Small Business Do This?

Yes but……. the highest cost is the generation of content. Most small businesses can not afford to hire a quality agency or consultant to do this for them.

Yet this is not some mysterious black art. Small businesses can learn to do this, but they just commit to it to see the result.

I’m not trying to talk you out of doing this, I’m trying to set a realistic expectation of what it takes.

Someone in your small business will devote one to two hours a day to this effort and that one to two hours a day will be required forever.

To stay motivated simply remember the savings per lead you will realize once this is fully up to speed.

To Learn More…..

Download the eBook: The 7 Fundamentals of Being Found Online

 

 

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