If you're a C-suite executive or business owner, chances are you've been talking to yourself a lot lately. The economy is much slower to rebound than we hoped. You must control costs since earnings are weaker than expected. You can't stop marketing, but marketing is your number one expense other than payroll. What's the best course of action?
According to a recent survey of over 200 business leaders like you, companies using inbound marketing as their primary marketing strategy average 60% lower cost per sales lead than those using traditional outbound techniques. Social media and blogs ranked at the top of the list of the most effective and cost-effective methods of generating new leads. Of the companies surveyed, small business are particularly active, spending over 40% of their lead generation budget on inbound marketing. Assuming that inbound marketing does generate more cost-effective leads than traditional marketing, how do companies choose between in-house and outsourced inbound marketing strategies?
The bottom line for most of you is cost. While it's true that you can reallocate some or most of your marketing budget in the direction of inbound marketing, how much is enough, and where do you start? Let's look at the cost factors for in-house inbound marketing vs. hiring an inbound marketing agency:
So it's up to you, weighing the short and long-term benefits of inbound marketing versus outbound marketing. Can you revitalize your marketing results using inbound techniques yet save costs at the same time? A growing list of companies of all sizes would answer "yes". Don't take my word for it. Read many blogs, e-books and whitepapers on the subject. Ask lots of questions of agencies like ours and other businesses engaged in inbound marketing. In this new "social mediasphere" people are far more likely to share this information with you. At least bring in some outside to help in the planning stages. They can assist you in estimating the costs and benefits of inbound marketing to help you make a more informed decision for your company.
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