The world of business and marketing is complex with hundreds of different strategies and techniques used. However, despite many techniques, the primary goal is to bring as many leads and sales opportunities as possible.
Inbound marketing is a recently developed methodology that attracts customers to the company’s products and services by creating valuable content and building a tailored customer experience. Inbound marketing methodology banks on the importance and significance of a good customer experience to create quality leads and turn them into sales.
The inbound methodology believes in the concept that a good customer experience would lead to a long and lasting relationship with the customer, thus higher sales opportunities. The process of inbound marketing occurs in a number of different phases.
Inbound marketing starts with the audience already interested in the product or service. People who already saw ads, watched videos, visited websites, and read online articles are considered engaged in the industry’s inbound marketing channels.
Those who are actively researching online and seeking information about a certain product are the target of the inbound marketing methodology. Outbound marketing strategies force content and information to a general audience, hoping some would bite. On the other hand, the inbound marketing methodology is patiently waiting for a person to engage before initiating its marketing tactics.
Outbound marketing strategies push out the company’s message, products, and services with the primary goal of introducing the brand to the largest possible audience. Like a needle in a haystack, outbound marketing sends out as much content and information as possible, hoping to pique the interest of a few. Unfortunately, outbound marketing methods are typically costly and the return on investment (ROI) is relatively low considering such large-scale marketing campaigns.
Inbound marketing is in contrast to traditional marketing strategies. It aims to avoid the crucial flaw of outbound marketing. Instead of pushing out extensive marketing efforts to a general audience, the inbound methodology focuses on creating relationships with a select community.
Timing is everything in inbound marketing. The goal is to provide prospective customers with content when they need it. We say a lot in our team: “You have to have the right content that goes out at the right time,” The inbound marketing methodology focuses its efforts on people already interested in the product or service and aims to guide them throughout their customer journey.
Every business strives for growth. The marketing team plays a crucial role in achieving this goal. The type of marketing strategies employed by a company dictates its reach, relevance, and sales. An effective and successful marketing plan can open new opportunities and push the company forward.
Inbound marketing provides help not only in the marketing department but also in other business processes. When implemented properly, inbound marketing can offer support through various channels and methods.
Some of these methods are not completely new. Components such as the in-depth customer data analysis and lead generation may already be implemented in your company’s business processes.
However, the inbound marketing methodology serves as an additional layer that can uncover strategic and tactical information regarding the target audience. Understanding the significance of this information about the company’s marketing and sales strategies can boost its performance and lead to exponential growth.
Implementing inbound marketing strategies requires careful consideration and detailed analysis. A business needs to have a detailed marketing plan while also being open to adjustments along the way. To adopt and implement inbound marketing effectively, it must go through three different stages:
The planning phase focuses on ensuring that the business’s marketing team is equipped with the right information before implementing its strategies. To effectively bring out quality and relevant marketing resources, it is crucial to identify and define the target market. The inbound marketing methodology requires the following:
Companies are only suitable to proceed to the implementation phase once they can identify the above-mentioned components.
Implementing an inbound marketing strategy can be tricky. Especially for those coming from traditional marketing backgrounds. Often, the first one to two months of implementation would feel like chaos. Some strategies may turn out to be ineffective while others may push your prospects away instead of in.
The implementation stage can be seen as a trial-and-error phase. The marketing team will face gruelling months trying to put each element of the inbound marketing strategy together. From content creation to email marketing and lead generation.
Considering that there is no template solution for a company’s marketing woes, it is important to provide it with some leeway to adjust and change strategies accordingly. The crucial part is that the marketing team should be proactive in analyzing customer data, behaviour, and trends to redirect its inbound marketing efforts in the right direction.
The feedback and adjustment phase allows your business to assess the current state of the inbound marketing methodology. As the process of implementation takes place, the marketing team should be able to gather more information about the target audience. This includes the above-mentioned inbound marketing requirements such as the buyer’s persona, journey, and more.
From there, the initial inbound marketing plan can be revised and improved to fit the current characteristics of the target market. Right after this, the process would circle right back to phases 1 and 2. Continuous development and improvement in inbound marketing strategies would allow it to cater to the fast-changing characteristics of its target audience.
Have a look at what we did with Paytrail. Paytrail is a funds transfer and payment service provider established in 2007. When it entered the digital marketing industry, Paytrail used a variety of point solutions for its digital marketing needs.
It had several agencies handling different elements of its digital marketing strategy. This led to a chaotic and incohesive attempt at a targeted digital marketing campaign. It was difficult to assess its progress and see whether it is meeting the marketing success metrics.
With our help, Paytrail was able to employ an all-in-one-platform solution. Everything from social media marketing, email marketing campaigns, CRM, and CMS work together in one platform.
This allowed Paytrail to launch a more cohesive and comprehensive marketing tactic. We helped them set up each component of the inbound marketing methodology. This includes identifying buyers’ persona, content planning, management, and creation, as well as all the necessary data analysis.
With this approach, Paytrail was able to boost its presence and become a trusted brand among its target market. Since partnering with HubSpot, Paytrail saw an 18% increase in customers, a 75% increase in website traffic, and a whopping 253% increase in leads. It is now considered one of the leading eCommerce markets in Finland.
Our success with Paytrail was not a work of magic. It involved intensive planning to build a fool-proof inbound marketing strategy.
A good way to track your efforts is to keep in a project timeline, that way you can see what has been done and what needs to be done yet. Have a look at this snapshot: