3 Reasons Businesses are Flocking to Inbound Marketing

I was recently talking to a small business owner about how to drive more prospects to her site. "Are you doing any Inbound Marketing?" I asked.

(Sound of crickets accompanied by deer-in-headlights look.)

"What exactly is that?" she finally responded.

Those of us in the marketing world know by now the difference between Inbound and Outbound Marketing, but there are still many business leaders who do not.

Hubspot defines Inbound Marketing as a "set of marketing strategies and techniques focusing on pulling relevant prospects and customers toward a business and its products." Think blogs, white papers, case studies, SEO and social media. These are tools used to "pull" customers to your business.

Outbound Marketing - or Traditional Marketing - focuses on sending company messages and advertising at consumers. Think trade shows, direct mail and telemarketing. These techniques are designed to "push" the business at your customers.

In the battle for marketing budget dollars, Inbound Marketing is clearly "pulling" away. Businesses that know the difference are flocking in droves to the Inbound Marketing side.

There are three main reasons why according to Hubspot's 2012 State of Inbound Marketing report.

1. Inbound Marketing is more cost effective.

According to the report, which surveyed 972 professional marketers, the average cost of an Inbound Marketing lead was $135 - almost a third of the cost of an Outbound Marketing lead which was $346.

2. Inbound Marketing generates better leads

Leads from Inbound Marketing  - blogs, whitepapers, SEO - are five times more likely to close than leads garnered through traditional marketing tools. Only about 2% of Outbound Marketing collected leads actually close.

3. Inbound Marketing lands customers

62% of the survey respondents reported they acquired a new customer through LinkedIn. 57% credited their blog. 52% said Facebook and 44% said Twitter.

In the last six months, more than a third of the respondents rated Inbound Marketing as "more important" while a third ranked Outbound Marketing as "less important." That is blatantly reflected in their spending as 89% of respondents say they increased their Inbound Marketing budget last year.

What are you doing with your marketing strategy? Are you "pushing" or "pulling?

5 Reasons Why White Papers Work...For Your Prospects

It's not a news flash that communication vehicles are exploding all around us. Blogs. Twitter. Pinterest. Facebook. LinkedIn. Infographics. Podcasts. Video. eBooks. Webinars.

They're all great and should be part of a comprehensive Content Marketing strategy. But don't forget old faithful: White Papers.

Why?

Because they still work.

Everyone knows by now why White Papers need to be a key component of your CM plan - they set you up as an authority; they drive traffic to your web site; they generate leads.

That's why they work for YOU. But what makes White Papers so compelling to YOUR PROSPECTS that allows all that other good stuff to happen?

Here are five reasons why your customers and prospects still rely on well-written, thoroughly researched White Papers.

1. They establish a solid starting point

Let's face it. The demands on your prospects' time are increasing. Competing deadlines are the rule, not the exception. When a manager or executive faces a buying decision - whether for a product or a service - his or her to-do list just got longer. There is an abundance of data out there, but how can it be culled down to relevant information. That is what your White Paper can do. According to the 2012 Eccolo B2B Technology Collateral Survey, 59% of tech buyers found White Papers to be the most helpful tool in the initial sales phase. That's more than twice the second most used vehicle. After Data Sheets and Brochures, White Papers were the third most consumed collateral.

2. They are NOT advertisements

Or they'd better not be. When your customers are in the investigative phase of their buying process, they don't want to slog through gobs of marketing salespeak. They want facts, ideas and solutions. When done properly, a White Paper provides those things and becomes a critical document during a buyer's due diligence process. That's why it must be an objective document. Nothing will destroy the credibility of your White Paper - and get it tossed into the trash - faster than making it a thinly veiled infomercial. It needs to be interesting and well written but it can't be an expanded sales pitch.

3. They consolidate useful information

Business people today are being inundated with information from many outlets. A focused White Paper can filter the "noise" and provide the reader with the targeted information they want and need. The key to achieving that is to ensure that the piece is relevant to your audience. It has to address one of their problems and provide insight into solutions through use of the right product or service. Once they have that information, they will share it with other members of their teams. According to a report by Information Week Business Technology, 93% of IT buyers pass along nearly half of the White Papers they read.

4. They save time

Done right, the White Paper becomes a valuable tool for a decision maker. Yes, they could google the day away and come up with much of the same information. However by presenting a clear, well researched White Paper, you have just saved your customer or prospect a valuable asset - time. That's one of the reasons that usage of White Papers increased by 19% in 2012 according to the 2012 Benchmarks, Budgets and Trends Report put out by the Content Marketing Institute and Marketing Profs. Busy buyers always appreciate saving time.

5. They help drive decisions

Finally, White Papers still help make buying decisions. 55% of tech buyers have used a White Paper in the last six months and 57% found them to be "moderately to extremely influential" in the buying decision. It is a critical and sometimes determining factor for your prospect in ultimately deciding how they will proceed.

White Papers may not have the same sizzle as some of the newer communication tools, but clearly they still get the job done - for you and for your prospects.

What do you think? Does your organization use White Papers? Do your competitors?

More on Content Marketing: 7 Points to Ponder

Content Marketing. Content Marketing. Content Marketing. It's everywhere.

Are you using it? If not, you'd better start.

In one of my recent posts, I discussed the concepts of Content Strategy, Content Marketing and Content Management - the Why, What and How of content.

At the heart of it all is your content and what it needs to do for you.

Here are seven things to consider regarding the Content Marketing explosion and how it affects you.

1. More May Be Less - According to Doug Kessler (@dougkessler) of Velocity Partners, nine out of 10 B2B marketers will be producing more content this year than last year. The problem is a lack of talent out there to generate all the required material. That will undoubtedly result in an effluence of poor content muddying the waters for the truly helpful content that drives traffic and sales. Kessler says the key will be to find writers and creators that "get content, understand context and can actually produce things that audiences want to consume."

2. Lead On - A study by B2B Magazine found that inbound marketing - of which Content Marketing is a key component - produces 62% lower cost per sales lead. The study also noted that 51% of marketers found Content Marketing to be the most effective tool for generating leads better than Brand Awareness, Thought Leadership and Sales.

3. Content Still Rules - Ben Hollom (@benhollom), Marketing Director at M2Bespoke says that "content is now the single most important aspect of a business' website."

4. On Your Mark, Get Set, Blog -  Where to begin? "If you're insisting on a practical starting point, a blog should be your content cornerstone," says Barry Feldman (@feldmancreative) President of Feldman Creative. Organizations seem to be heeding that advice. According to Wordpress, 402 million people view more than 3.5 billion blog pages each month.

5. You Can Run, But You Can't Hide - If you're still trying to "hoard" your useful content so as not to "give it away" then just stop. Angie Sanders (@pronouncedALJ), partner at esolutions360, points out that "if your audience doesn't get information from you, then they'll perform a google search and find someone else who'll give them the answer."

6. Been Searching So Long - With the advances in Google and other search engines, emphasis continues to move away from standalone SEO. Content Marketer Marcus Sheridan (@TheSalesLion) predicts that "over half of the SEO companies that are around today will be gone within two years." He goes on to say that "Any SEO firm that cares about their clients and the future success of an organization is now starting to talk about and implement content marketing."

7. Building Your Foundation - Susan Gebauer (@dreckbaerfrau), founder of Explore B2B, says that "Content Marketing is about building a reputation by showing expertise, knowledge, moral character and demonstrating superior communicative skills through the content you provide."

Have you started your Content Marketing plan? Where will you begin?

5 Reasons You Should Be Blogging

"Why do I need a blog?" It seems I get some variation of this question from one of my clients nearly every day. They hear that blogging "is the thing to do" but are not sure of the tangible benefit.

Part of the hesitancy is their reluctance to embrace the new reality of marketing in general and content marketing in particular. They have yet to realize that customers today want to be informed and educated and not simply "sold to."

Another reason is that they're overwhelmed with what is already on their plate and aren't thrilled about adding another task to their "to do" list, especially one that requires an ongoing commitment.

My answer is always the same.

Their customers want to hear from them in ways that they haven't in the past and blogging is the key first step. More ominously, I warn them that the new interactive requirement is not going away and although they may resist, their competitors certainly won't.

They need to get in or they will be left behind.

Here are the five major reasons why they - and you -  should be blogging.

1. Blogging increases traffic to your website - The first step in making a sale today is getting people to your site. Regardless of how visually attractive your site may be, people won't be going there unless there's a compelling reason for them to do so. According to the Pew Research Center, one in three internet users read blogs. Providing a well-written blog that informs is a key factor in getting people to visit.

2. Blogging sets you up as an authority - You obviously are competent in your field or you wouldn't be successful. Share your knowledge with your prospects and customers and they will come to look at you as an expert in the field. When it comes to their buying decisions, most people want to be comfortable before parting with their hard-earned cash. They want to buy from people who know what they are doing. Sharing authoritative content will set that tone.

3. Blogging provides a personality - People buy from people. Whether dealing with a one person operation or a multi-site global organization, your prospect's buying decision ultimately comes down to one person buying from another. Producing a well crafted blog provides a voice and personality that will make your customers more comfortable doing business with you.

4. Blogging opens a dialogue - The days of hiding in the back office or behind a monolithic impersonal website are long gone. At least from successful companies they are. Customers want to have input rather than a lecture. Your blog, while informing, can also solicit feedback from your customers - feedback that is crucial to developing and growing your business.

5. Blogging works - There's growing data which shows that posting regular blogs with informative content ultimately generates incremental sales. According to research done by Hubspot covering 2011-2012, companies that blog attracted 55% more visitors to their sites. That same research showed that 46% of those companies generated revenue as a result of their blogs. According to a University of Texas report, the top 50,000 blogs generated $500 million in revenue.

What do you say? Are you blogging? If not, why not?

Chevy's New Tagline: A Shift to WIIFM?

"Your market message should always be highlighting how your product will help your customer," says Nate Hirshberg, Marketing Manager for Harbortouch in this post from his blog {three60}Marketing.  "Although it should be obvious, this marketing fundamental often gets forgotten." Enter Chevrolet.

The iconic auto maker announced this month that it is changing its tagline from "Chevy Runs Deep" to "Find New Roads." As explained in this Wall Street Journal article, the General Motors division is tying the change to a massive rollout of 13 revamped Chevrolet models this year. One of the reasons CEO Dan Akerson gives for the shift is that "Chevy Runs Deep"  just "didn't translate well in some languages hindering the ability to build a global campaign."

More likely is that the tagline didn't translate into sales.

"Chevy Runs Deep" debuted in late 2010. In 2011, Chevrolet owned 13.9% of US auto sales market. In 2012, that fell to 12.8%. In 2000, Chevrolet had a 15% share.

How much of that was due to a tagline is debatable. You could, however, make a decent argument that the change to "Find New Roads" is a shift back to the basic question that customers ask: What's in it for me?

So how do the two slogans relate to WIIFM?

When "Chevy Runs Deep" was introduced, the ads featured nostalgic shots of assembly line workers in the 1940's, houses being built in the 1950's and a young couple in the 1960's. GM's Chief Marketing Officer Joel Ewanick said at the time that "we are out to make people feel the depth of the Chevy brand in cars, especially cars, and trucks and its role in America." He also said they would be focusing on the Chevrolet "bow tie" logo as much as on the tagline.

Cut to audience waving widely and scratching their collective heads. Yes, Chevy has a long history and yes, Chevy is part of Americana and yes, Chevy has a great logo but....what's in it for me?

How about "Find New Roads?"

Instead of pontificating on the importance of Chevrolet, the new tagline focuses on what a Chevy might do for for the customer.

"It offers a challenge to people," Akerson explains in the WSJ article.

Interim marketing chief Alan Batey says the new slogan is meant to "inspire consumers to explore new destinations in life and to reach beyond the normal, whether it is taking a different route to work, trying something new or visiting a new destination."

Whether it sparks increased sales remains to be seen, but at least GM has turned the focus back on what its product can do for the customer. For Chevrolet, that looks like a turn back onto the right messaging road.

What do you think? Has Chevy inspired you?

Your Content Game Plan: Content Strategy, Content Marketing, Content Management

You can't get more than a sentence or two into a post or article on marketing without colliding into one of these terms: Content Strategy, Content Marketing, Content Management. Within a paragraph or so, you'll likely encounter them all. Those of us in the content creation world are familiar with all three, but that might not be the case for everyone. So today I thought I'd go to the experts and provide some basic definitions of these three critical concepts that make up your overall Content Game Plan.

Content Strategy

Michael Brenner (@brennermichael), Senior Director of #Marketing and Content Strategy for SAP defines it as "the mindset, culture and approach to delivering your customers' information needs in all places they are searching for it, across each stage of the buying process."

Mark O'Brien (@newfangledmark), CEO of Newfangled Web Developers, defines it as "a plan for regularly adding unique, expert, and indexable content to your site."

Kristina Halvorson (@halvorson), Content Strategist, Founder and President of Brain Traffic  says that "Content Strategy plans for the creation, publication, and governance of useful, usable content. " She says the Content Strategist must define why we're publishing it in the first place.

In a word: Content Strategy is the why of content.

Content Marketing

Joe Pulizzi (@juntajoe), Founder of the Content Marketing Institute says that the formal definition of Content Marketing is "creating and distributing relevant and valuable content to attract, acquire, and engage a clearly defined and understood target audience with the objective of driving profitable customer action."

Robert Rose (@robert_rose), Strategist @CMI/Analyst at Digital Clarity Group says that "traditional marketing and adverting is telling the world you're a rockstar. Content Marketing is showing the world that you are one."

Jason Falls (@jasonfalls), founder of Social Media Explorer defines it as "using any type of content (newsletters, blog posts, white papers, video, tweets, podcasts, wall posts) to attract an audience you wish to market to."

In a word: Content Marketing is the what of content.

Content Management

Kevin P. Nichols (@kpnichols), Director and Practice Lead for Content Strategy, Sapient Nitro, says it "designs the processes and structures as well as implements technologies to manage content from acquisition and publication to storage."

Laurence Hart (@piewords), Information Professional, CIO for AIIM (Association for Information and Image Management) calls it "the coordinated management of all content throughout an organization, allowing for people and systems to find and use content from within any business context."

Bernard Kohan, Co-Founder and Chief Business Development Officer at Comentum Corporation defines it as "an application that provides capabilities for multiple users with different permission levels to manage content, data, or information of a website project or internet/intranet application."

In a word, Content Management is the how of content.

There you have it. The Why, What and How of Content.

How does your Content Game Plan shape up? Is it a winner?