Restaurants and Retail: The Need for More Inbound
Traditionally, marketing has been focused on going out and grabbing the attention of potential customers. This is referred to as external or outbound marketing and it usually takes the form of print, tv, radio, and, more recently, online banner advertising. It can be costly, inexact, and – particularly in recent years – ineffective.
This is because the buyer-seller relationship has changed. In 2016, consumers have more knowledge about the products and services available to them than ever before. Figuring out a way to navigate this new relationship has become one of the major challenges for marketers and executives.
For the most part, the solution they have turned to has been a relatively new form of marketing called inbound. The objective of inbound marketing is to prompt consumers to find the business in organic, natural ways, whether it’s through google searches or social media.
For many, inbound marketing and the words and phrases associated with it (SEO, PPC, marketing funnel, etc.) are intimidating. Businesses don’t know where to begin or how to use what is becoming a crucial part of most marketing plans.
This is particularly true for bars, restaurants, and retail stores who still spend a crazy 90% of their marketing budgets on outbound campaigns.
And this is really unfortunate. Here are some statistics that should get you rethinking your reliance on external marketing:
82% of American consumers ignore online ads1
Inbound leads cost 60% less than their outbound counterparts2
93% of buying cycles begin with an online search3
So hopefully it’s clear – outbound marketing is becoming less effective, and in almost direct contrast, inbound marketing is becoming more and more important. It’s less expensive and, if done correctly, takes less effort.
If you’re not using inbound marketing, you should be. Here at Pulsebox, we’ll post interesting articles, statistics, and how-tos that help you implement new marketing strategies and raise your revenue bottom line.
So be sure to follow the blog. But in the meantime, if you’d like to learn more about inbound marketing and do some research on your own, we recommend the following resource: