Heightened consumer expectations are changing the ways brands market. More informative inbound marketing tactics, such as content marketing and online video, are taking away budget from quick-hit outbound methods, such as banner ads, direct mail, TV, billboards, and print advertisements.
According to this week's "15 Mind-Blowing Stats," inbound marketing costs less, builds greater levels of loyalty, and generates more leads than outbound marketing. Read on for some numbers that will surely make you re-evaluate your marketing strategy--if you haven't done so already.
1. For the third year in a row, marketers increased their inbound spending nearly 50 percent in 2013.
2. Nearly 60 percent of marketers have adopted inbound marketing strategies, and more than 80 percent of those executing inbound marketing have integrated it into broader company goals.
3. Nearly 75 percent of agencies used inbound marketing in 2013.
4. Inbound marketing increases brand awareness. In fact 93 percent of buying cycles start with a search online. If your company shows up high in the search results, or is active on a searcher's social networks you'll get free brand awareness.
5. Inbound marketing costs less than traditional marketing. For example, 44 percent of direct mail is never opened. That's a waste of time, postage and paper.
6. More proof inbound marketing is winning, and outbound marketing is, well, out: Eighty-six percent of people skip through television commercials, and 84 percent of 25- to 34-year-olds have clicked out of a Web site because of an "irrelevant or intrusive ad."
7. B2B buyers are 57 to 70 percent through their buying research before first contacting the seller.
8. B2B companies that blog only once or twice a month generate 70 percent more leads than those that don’t blog.
9. Thirty-two percent of brands are decreasing spending on outbound marketing to spend more on content marketing.
10. Eighty percent of business decision makers prefer to get company information in a series of articles versus an advertisement.
11. Companies that spend more than 50 percent of their lead generation budget on inbound marketing report a significantly lower cost per lead.
12. Inbound marketing costs 62 percent less per lead than traditional outbound marketing.
13. Marketers allocate 34 percent of their overall budgets to inbound tactics–11 percent more than they dedicate to outbound strategies, such as banners and direct mail.
14. Thirty-four percent of all leads generated in 2013 come from inbound marketing sources.
15. Content marketing costs 62 percent less than traditional marketing and generates three times as many leads.