Every investment your business makes should be geared towards a measurable return. Although traditional advertising may prove beneficial to some businesses, the logic behind creating an inbound marketing campaign is based on the idea that small investments yield larger returns.
In a forecast provided by MagnaGlobal, over 80% of the world’s largest populations have access to the internet. Yes, the digital frontier has arrived. It seems almost obvious that the world’s largest players will begin turning over a new leaf. However, surprisingly enough the surge in internet advertising focuses on endemics like Amazon.com and small to medium Size businesses. Suffice it to say the digital frontier is open territory for investors seeking highly profitable ROI. Spending $50,000 to make $500,000 is of course a no brainer but exactly where will the $50,000 go and how does it compare to other avenues of advertising?
Digital vs. Traditional
According to Gaebler Ventures a full page full run ad in the Wall Street Journal Nation edition can cost upwards of $96,000 USD. A bit steep don’t you think? In contrast, an effective inbound marketing campaign for a span of 10 months can cost $50,000 USD. The reason we chose to reference a national edition as opposed to local newspapers is because the internet itself provides a global marketing segment.
The difference between running a full run ad as opposed to an inbound marketing campaign is that the traditional print ad only comprises of the ad itself whereas the digital campaign includes a comprehensive strategy from lead generation to sales conversions and site maintenance. Obviously one seems more logical than the other.
Digital vs. Traditional Results
Let’s compare advertising in a local newspaper against a pay per click Facebook campaign. To run a local newspaper ad for 30 days at a reasonable rate of $50.00 per day the total cost amounts to $1500 USD. In contrast, running a Facebook campaign to generate a fan base can cost as low as $1 per day although a large consensus has been spending at least $500 per month for a successful campaign (Jumpstart your Facebook campaign with our eBook). The major plus side of using this inbound strategy is that you have the ability to retain leads throughout the entire process. Which, in effect, minimizes the cost per lead and subsequently increases the return on advertising. A similar scenario unfolds when comparing magazine ads to google adwords, search engine optimization to phone book advertising, or direct mail to viral marketing. However you cut it, digital mediums have a higher potential for profit and continuity than traditional mediums if executed properly.
Digital Machine Unveiled
Your digital campaign should always begin by establishing a hub which is of course your website. Your website should focus on organic search engine rankings, social media optimization, lead generation, and sales conversions. The process of traffic to leads to sales is largely known as the inbound marketing sales funnel. The sales funnel is the premise of inbound marketing strategy. While the parts of the machine seem simple in actuality many little interdependent tasks must be completed simultaneously to ensure the machine is running at full speed. For example, creating a blog is only half the battle– now it’s time to engage your audience.
Some of the tasks that need consistent output include website content creation to enhance search engine results, off page optimization, top of the funnel offer creation, graphic design, landing page integration, and data analysis. A comprehensive marketing plan encompasses all these strategies, measures the results, and enhances the campaign for the upcoming period. In a recent case study provided by Kuno Creative companies that consistently invest in inbound marketing strategies will yield a 71% ROI per annum. Of course as the website and marketing matures the return also increases.
Yes, there is a great deal of over hyped facts and junk success rates online. However, inbound marketing is not a rogue afterthought but instead an actual science for those who understand the workings of a successful campaign. The most valuable information we can pass on is to choose your sources properly and rely on results oriented services. If they say they can do it ask them to prove it first, plain and simple. As always if you have any questions, concerns, or comments we’d love to hear from you. Let’s get this conversation going and tell us what’s on your mind.
If getting a bigger return on investment is something that you are interested in but don’t know how to get started, contact us today to schedule your free marketing analysis.