If James Bond ever played an inbound marketer, this could be a possible title for the film.
For the moment, let us cut to the chase.
"We are looking for lead generation," say most of our leads when contacted.
"Can inbound marketing help?" and they will continue.The real problem lies in customer acquisition and not just lead generation. Inbound marketing recognises this and thus takes leverages content marketing and lead nurturing, to address customer acquisition, in a holistic manner.
Inbound Marketing also recognises that it has limitations when it comes to lead generation. Ironically, without lead generation, it is impossible to move the needle on customer acquisition.To understand this, let us take the example of a marketing funnel.
The end objective of a business is to acquire 1 customer. At a 20% close rate, this would need 5 leads. To get 5 leads, we would 100 website visitors at a 5% conversion rate. Thus, the marketing funnel requires 100 visitors to acquire one customer.An inbound marketing plan to attract these 100 visitors could like the following:-
- Search - 25
- Social Media - 20
- Email to opt in lists - 20
35 still remain.
How do we get those?
Look beyond inbound marketing to traditional prospecting methods like calling, email prospecting, referrals and everything else that helps the business fill up its marketing funnel.
Occasionally, but seldom, inbound marketing on its own maybe able to fill the funnel, in true James Bond style.