Inbound vs. Outbound Marketing (Part 2)

Previously we looked at how Internet User behaviour has caused marketers and marketing agencies to become more creative in trying to reach consumers. As a result, marketing budgets have shifted towards inbound marketing such as social media, organic search engine optimization (in response to a user driven query) and virtual events/meetings.

B2B marketers are shifting their budgets toward inbound marketing

Noticeably social media budgets have almost doubled in the last two years.

More than half of marketers increased their inbound marketing budget in 2011

The money spent on inbound marketing is more effective from both a cost per lead and revenue generation perspective costing only about 1/3 of what it costs to generate an outbound lead.

Inbound marketing costs 62% less per lead than traditional outbound marketing

And these leads often generate revenue.

Inbound marketing tactics don't just generate leads they generate revenue

What does this mean to Kelowna businesses? Kelowna businesses need to engage in inbound marketing. A cheaper way to generate leads that result in revenue, even small businesses can afford to compete.