Inbound marketing is the art of being found by the people who are already interested in and trying to learn about your industry. In a series of articles I will discuss how you can best use social media, blogs, search engines, and your website to direct prospects to your products and services. Today, however, will be an overview of the varied components of inbound marketing. Three big reasons for composites manufacturers to consider inbound marketing are lower cost per lead, improved lead generation and improved close rates. These trends are becoming more important with a 46 percent decline in trade show spending and the fact 44 percent of direct mail marketing is never opened.
Lower cost per lead
Outbound average cost per lead= $373
Inbound average cost per lead= $143
An inbound marketing campaign yields visitors and leads 24/7 so your costs are spread out over a much longer time frame and become much more productive than one time outbound events like a trade show.
The cost of creating your own content is a lot less than traditional advertising. Creating your own contacts list and email marketing campaign costs a fraction of the price to purchase a list and create a direct mail campaign. Creating your own content and using your own medium—y our website—becomes a content marketing platform and costs a lot less than paying someone else to advertise on their medium like TV or radio.
Website lead generation
According to a study by FOCUS, a market research firm based in Louisiana, it is only in the last third of the sales process that prospects actually want to engage with a sales representative. Inbound marketing allows composites manufacturers to talk to prospects during the first two thirds of the process.