Think of this scenario: youre ready to start an inbound marketing program for your company, but management isnt agreeing to buy in. Surely you ask yourself, what statics and data can I show to persuade my organization to pursue an inbound marketing approach? This post will equip you with the proof that inbound marketing not only increases revenue, but also accelerates firm growth and increases profitability.
Where will this proof come from? Hinge Marketing conducted a study of 500 professional services firms that explored their use of online and inbound marketing tactics. The average firm we studied had annual revenues of $53 million. We published this research in a report titled Online Marketing for Professional Services Firms.
Firms That Generate Leads Online, Grow Faster
The first finding that proves that inbound marketing not only works, but also increases firm growth is depicted below. In this table, you will notice that those firms generating 40% or more of their leads online typically grow almost twice as fast as firms who choose not to generate leads online through inbound channels
Firms That Generate Leads Online Are More Profitable
Next lets explore profitability. In our research, we found that those firms that generate more than 40% of their leads online are also generally 2X as profitable than those that produce no leads online.
What Do You Tell Your Company Management?
We found that if your firm begins to participate in an inbound marketing program and starts generating 40% or more of your leads online, you will begin to reap benefits similar to those we uncovered in our research. Typically, your firm will grow 4X faster and be 2X as profitable as it was before leads were generated online. Hinge experienced this firsthand: 2 years ago we started generating leads online and our growth and profitability followed that of the companies we researched.
Where Do I Start?
Now that you are armed and dangerous with data and ready to convince your organizations management to implement inbound marketing, you are probably wondering where to start. With so many different techniques to choose from, how do you pick the one that will be most effective? Well, we asked firms that same question.
We found that high growth firms and average growth firms ranked the effectiveness of online marketing techniques quite differently. High growth firms found content marketing and web analytics to be the most effective forms of inbound marketing.
They ranked search engine optimization (SEO), blogging, email marketing, and eBooks/whitepapers as 4 of the top 5 most effective online marketing techniques. These components are the vital pieces of any successful content marketing strategy.
If you are ready to being planning your content marketing campaign, Hinge has a Content Marketing Guide that will help you get started.
So what are you waiting for? No one can argue with data. And our data can prove to your team that inbound marketing works. Not only does it lead to faster growth, but it will position your firm to be more profitable. Soon after you start an inbound marketing campaign, you will see an influx of leads just waiting to do business with you.