It is becoming increasingly obvious in the B2B arena that inbound marketing works well for businesses, even the smaller ones. A recent study released by the Hinge Research Institute revealed a remarkable correlation between profitability and online lead generation among professional services firms. The study concluded:
“Firms generating 60% or more of their leads online are 2X more profitable than those generating less than 20% of their leads online.”
You can read the blog for more information: http://blog.hubspot.com/blog/tabid/6307/bid/28777/Companies-Relying-on-Online-Lead-Generation-Are-2X-More-Profitable-Data.aspx#ixzz1f2Du1iVs
You may be wondering how inbound online marketing can work for your small B2B business. Here are 3 ways it is working for our company:
Inbound Marketing Works By Targeting Those Who Are Seeking Your Services
Outbound marketing involves directly contacting potential clients to tell them about you and your solutions. To use a fishing analogy, your company is expected to cast a wide enough net in order to capture at least a few interested members from a huge audience. Conversely, inbound strategies let potential clients who are specifically interested in your offerings find and come to you. This concentration on being found by interested parties rather than going after them is certainly an efficient and effective use of the fewer resources available in a smaller business. This efficiency can also be appreciated for B2B companies with limited marketing budgets and multiple time constraints.
Inbound Marketing Fits Small Business Budgets
When you are looking for services where do you go first? I know I personally rely on the internet and specific search engines to find everything these days. I believe almost anyone can create an effective Boolean search on the internet that will allow them to locate what they need within a few seconds. Small businesses, even those with a focus on B2B marketing, should be using inbound marketing tools like social media, SEO, and internet advertising, to help them be easily found via search engines. Many of these tools are free (or inexpensive), efficient, and very user-friendly. Even the smallest of B2B business will find that inbound strategies are affordable and viable, especially with their high levels of efficiency and effectiveness.
Inbound Marketing Maximizes Integral Exposure
Inbound strategies provide an additional and beneficial component as a cost-effective advertising tool for small businesses with a B2B focus. This is done by borrowing the credibility and genuine interest of your leads, both actual and potential. When interested parties have located your company via SEO and social media, they are more likely to share your information with their friends and followers. Then those friends and followers will share with their friends and followers — and so on and so on. Many of these B2B companies have their own online followings through their websites, Facebook, Twitter, LinkedIn or blogs. Their names and/or reputations may even be more recognizable than your own. This association will be beneficial for all parties who are involved.
In summary, OnTarget Partners is now able to connect with many more potential leads in cost-effective ways and at a fraction of the cost of our direct marketing campaigns. One of the best parts is that the leads have found us and were interested in what we have to offer. No cold-calling or hard-selling. What’s not to like about that?
Jennifer Hanford is Director of Social Media for OnTarget Partners. She can be reached at firstname.lastname@example.org.