No matter how you go about it, generating a qualified B2B lead is never cheap. But if you believe the statistics, inbound leads come at a much more reasonable cost than outbound. In fact, as our strategic agency partner in the UK, Earnest, highlighted in their “vital statistics” video, the average outbound lead costs $364 to obtain, while the average inbound lead costs only $135.
But why? Surely inbound marketing tactics and assets (white papers, landing pages etc.) can’t be that much more affordable to execute than outbound (direct mail, advertising etc.)
We believe the real reason behind the relative affordability of an inbound lead is the fact that the customer is closer to making a purchase decision when they come to you through inbound marketing. Unlike outbound marketing, which begins with the introduction of a product and concludes with an attempt to convince the buyer they need it, inbound marketing begins with the buyer’s need. Inbound marketing takes place when a buyer recognizes the need for a certain type of product or service, and then begins to research options. It concludes when that buyer comes to you ready (or nearly ready) to buy and makes it easy for you to close the sale.
This is where we believe the significant cost saving occurs. Because the buyer has already worked through much of her decision making process at her own pace before she comes to you, you won’t have to spend much time courting her or convincing her to buy as you might with an outbound lead. Time is money, and the less time you spend on each new prospective customer before they make a purchase, the more money you save.
Have you experienced cost savings with inbound marketing like we’ve described above? Let us know in the comments.
Featured image via onlinemaske.com.
(Click here to expand)
