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.
Noticeably social media budgets have almost doubled in the last two years.
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.
And these leads often 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.