Social media is a powerhouse of change for several areas of customer experience. In regards to marketing, the social web has provided a less expensive, more communicative alternative that's poised to replace traditional methods — billboards, TV spots, etc. — altogether. The following infographic from Voltier Digital highlights how things currently stand.
First, a wee bit on this newer method of marketing communication. Voltier Digital says new marketing is any tactic that relies on earning people's interest instead of buying it. In other words, inbound marketing is about being "found" by the people who are already learning about and shopping in your industry, rather than marketing to the masses and hoping for the best.
"The best analogy I can come up with is that traditional marketers looking to garner interest from new potential customers are like lions hunting in the jungle for elephants," wrote Brian Halligan, founder and CEO of HubSpot. "The elephants used to be in the jungle in the '80s and '90s when they learned their trade, but they don't seem to be there anymore. They have all migrated to the watering holes on the savannah (the internet). So, rather than continuing to hunt in the jungle, I recommend setting up shop at the watering hole or turning your website into its own watering hole."
What's Not to Love?
The reason for an increase in inbound marketing is obvious: Why pay for outbound ads when consumers aren’t even paying attention to them?
Here are some key stats from the infographic:
- 86% of people skip through television commercials.
- 44% of direct mail is never opened
- 84% of 25 to 34 year olds have clicked out of a website because of an “irrelevant or intrusive ad"
- 91% of e-mail users have unsubscribed from a company e-mail they previously opted to
- Inbound marketing costs 62% less per lead than traditional outbound
It's Not Easy
On the not-so-awesome side of the fence, inbound marketing takes a lot more effort to maintain. For instance, two way conversations on social platforms inevitably open the floodgates of criticism, which can be viewed publicly. Secondly, it takes a lot of time and attention. And third, the possibility of posting inappropriate content is much higher (hackers or disgruntled employees).
Still, there's no sign of slowing for inbound marketing. If you want to successfully move forward, it's time to consider increasing communication, filtering/review systems, and human resources.
Check out Voltier Digital's infographic in full below and let us know if you've got anything to add in the comments section below.