If you aren’t considering inbound marketing as part of your 2016 marketing strategy – you should be.
But, I’m not writing to justify why you should be using inbound marketing methods. Rather, I’m writing to provide supporting information to marketers and business leaders who already understand the value of inbound – but want some justification (or maybe reassurance is a better word) of their investment.
Because yes, inbound marketing is an investment. It requires dollars and cents, and time and energy. Like every investment you make, you look for a return. And with an inbound marketing investment, you can expect a return of all shapes and sizes, for example:
Revenue Growth (probably the most important as you justify the spend)
Whether you need reassurance your dollars are being spent wisely, arsenal to secure a higher marketing budget, or supporting statistics to prove the value of inbound marketing to your decision makers, the information below will provide.
The State of Inbound Report
HubSpot just released the seventh State of Inbound Report, which has tracked the adoption and evolution of inbound marketing. Here’s how it works:
Every year, HubSpot surveys thousands of the world’s foremost marketers and salespeople -- HubSpot customers and non-customers alike. We poll them on their most pressing priorities, the challenges they face, and the tactics they’ve used to meet those challenges head-on. We track our respondents’ quantitative answers, collate and consolidate their anecdotal answers, and put the polished result into a master report: State of Inbound.
There are 150 countries represented. There are big-budget organizations and small ones. There’s representation from non-profit, B2C, and B2B organizations. There’s also variation in roles (sales vs. marketing), industries, and management levels. The data gathered is designed to be your roadmap for your 2016 marketing and sales goals. You can download the full report at the end of this blog.
Now, let’s look at a sampling of the stats to help justify your investment:
Companies Are 3x As Likely To Have Higher ROI On Inbound Marketing Campaigns That Outbound
Regardless of the investment size, more companies indicated they see a higher ROI when it comes to inbound marketing, compared to outbound.
We would argue this has a lot to do with the ability to track inbound marketing efforts and tie dollars directly to the investment. Which leads me to the next statistic:
Respondents Were 20% More Likely To Receive A Higher Budget In 2015 If ROI Was Tracked In The First Place…
…and twice as likely to see an increased budget if that tracked ROI was shown to be higher than in 2014. What’s more, respondents were nine times more likely to receive a lower budget if they failed to demonstrate a positive ROI.
This seems like a bit of a no-brainer when it comes to justifying the spend. If you can’t show that the dollars were spent to generate some type of results, why would anyone want to keep investing in the same resource?
Here’s an off-the-wall comparison – if Girl Scout cookies didn’t make you happy/full/satisfied, would you keep buying more?
Now, here’s one you won’t hear every day…
Of Those Who Failed With Inbound Last Year, 81% Increased Budget As A Result
This means businesses that believe in inbound understand that it is all about the long game. While you will likely see some short-term results, the true value will be seen long-term, as everything you do continues to build and grow.
HubSpot says, “If you get off to a slow start, you shouldn’t back off. In fact, you might consider doubling down.”
Marketers Who Check Their Analytics 3+ Times A Week Are Over 20% More Likely To Achieve A Positive ROI
If you can’t measure it, you can’t manage it. And that’s why inbound marketing is so beautiful and valuable – because you can do both. And, it appears that doing both has a significant impact on the bottom line. After all, “It’s all about the Benjamins, baby.”
3 Out Of 4 Marketers Across The Globe Prioritize An Inbound Approach To Marketing
If you don’t consider your organization to be an innovator, or even an early adopter, (according to the Law of Diffusion of Innovation) then you will likely find comfort in the fact that other organizations are making inbound marketing a priority, too.
Now, let’s switch gears to sales.
Closing More Deals Remains Salespeople’s Number One Priority.
This generally comes at no surprise, but it’s interesting to note that this hasn’t changed in YEARS. And, it’s important for marketers to realize this and understand how we can help them achieve this (hint: inbound marketing).
Prospecting Is The Hardest Part Of The Sales Process For Reps.
Once again, I will drop a hint: inbound marketing.
Sales Reps Don’t Have Enough Information About A Lead To Reach Out Effectively
The more value marketers can provide – to the bottom line, to sales reps, to prospects and customers – the better off everyone will be.