Myths and legends abound in business, but some of the most surprising we’ve heard surround the concept of inbound marketing. Hey, we don’t know where people get these from—or why they prevail, when the facts are the click of a mouse away—but they do. Many of the most common myths have two sides of the coin; it doesn’t matter which version you hear, typically neither of them are accurate. We’ve undertaken a myth-busting role here and plan to debunk all the myths so completely, they’ll never bother you again. Here goes:
Myth: Inbound Marketing is Cheaper/More Expensive than Other Methods
Here’s the first paradox. Some say inbound marketing is free, others say it’s too expensive. Neither of these is correct. First, nothing is free because even if you’re able to do everything yourself, it’s costing you your time, which can be pretty expensive if you’re the CEO of your company. Second, the cost depends on what your marketing strategy includes, just like it does with outbound marketing.
Usually, however, the costs associated range from purchasing of stock images for a dollar apiece through to hiring an inbound marketing agency. This means your cost could range from $5 to $50,000, depending on what you want to do. One thing is certain: it costs less per lead than outbound, a fact proved by a 2012 study by HubSpot that found the average cost per lead to be more than 60% lower using inbound instead of outbound methods.
The question you should ask, therefore, is not whether it’s cheaper or more expensive, but whether it delivers better ROI than outbound marketing. And the answer to that, my friends, is a resounding “Yes!”
Myth: It’s the Same Thing as Content Marketing and/or SEO
They aren’t the same thing at all. While some industry commentators believe content and inbound marketing share many principles, the fact is that inbound includes a range of other practices that don’t necessarily fall directly under the content banner. The range covers practices such as thought leadership, public speaking and event marketing, all of which may produce content but aren’t of themselves content. SEO, on the other hand, is an element of both content and inbound marketing, because strong keyword research and smart usage enables your content to be found online.
SEO research also provides the backbone for our inbound marketing by telling us what users are searching for and what they want to know.
Myth: You Have to Be Good at Writing/Photography/Social Media
This one’s utter nonsense. While inbound marketing includes substantial use of optimized content, it isn’t all about copywriting, images or your social networking strategy. Neither do you have to do these things yourself. The beauty of the inbound concept is that it utilizes online tools that are simple and cost-effective to use, enabling anyone with a basic knowledge to understand what’s required. This means that if you aren’t any good at any of these things, you can still learn enough to hire an inbound marketing agency to do them for you.
Agencies, however, need to remain competitive in price, because they simply can’t justify charging you huge amounts for what has to be done.
Myth: It Only Works for B2B/B2C
The rationales used to explain this myth are legendary in themselves:
- Inbound doesn’t work for B2B because companies aren’t ‘people.’ Sure they aren’t, but they have people working for them. You aren’t targeting a business follower with your Facebook page, you’re targeting the individual who does their buying. Regardless of whether the user is the CEO, financial officer or the receptionist, if they need information on your products and services they will follow pages that offer it.
- Inbound doesn’t work for B2C because:
- “Our target market isn’t on social media”
- “You can’t order our products online”
- “Nobody’s interested in reading about my product/service.”
- “I can’t think of any blog topics that will fit with my business.”
This narrow view doesn’t help anyone. Essentially, the concept of inbound marketing works for any company whose purpose is reaching its customer on an individual, focused level.
Myth: Inbound Only Applies to Non-Local/Online Businesses
Inbound marketing works regardless of location. Sure, it delivers additional benefits for non-local businesses in that it offers a wider reach, but just because you’re a home remodeler working only in a 25-mile radius from your base doesn’t mean you don’t want or need traffic from the Far East. It’s your presence that matters. The stronger your local SEO strategy the more website visitors you’re likely to get, and the better you’ll do in search rankings and results.
You may not generate sales leads from Bangkok exactly, nor would you want them if you did, but the fact that your site’s reach extends internationally helps you to be relevant in your local market.
*Image courtesy of freedigitalphotos.net
