7 Signs Inbound Marketing Will Work in Your Industry
Not sure if inbound marketing will work in your industry?
This is a legitimate concern, and it’s true that inbound marketing may not work for your industry.
I’ve personally spoken to many companies about this and, after listening to them talk about their businesses, it’s been clear that inbound marketing was indeed not a good fit for them.
So, how do you tell if it will work for you?
In order to help you out, I’ve put together this blog to help you identify the signs that your business is a good fit.
By the time you reach the end of this post, I hope to have helped you understand if inbound will work in your industry.
1. Do your customers go online?
I know what you might be thinking here – doesn’t everyone these days?
But, what I actually mean is: Do your customers use the internet to find your industry services or products?
Many would say everyone with an internet connection does this – but not all.
I spoke to a video production company recently who totally relied on word of mouth when it came to businesses finding them.
True enough, when we did some research on how many people were searching for their services, I found it to be very low.
So, if your customers are not online, maybe inbound won’t work for you.
2. How long does it take you to sell?
By this, I mean how long is your sales cycle?
If people take mere minutes to decide whether to use your business or not, then inbound may not be a good fit.
If however, your sales cycle last several weeks or even months, this would indicate that they require a lot of nurturing. In this case, inbound marketing could be the perfect fit for you.
3. Is your customer’s lifetime value over £500?
This really comes down to if you would see a return on investment with inbound marketing. Inbound costs around £30,000 a year and if your margins are low then perhaps it is not a viable option.
As an example, if your margins were £50 per sale, then you would need to sell a lot to make the investment worth it.
4. Do you know your customers?
How well you know your customers will determine the quality of content you or your agency will create.
Although an agency can help you create buyer personas which are a representation of customers in your industry, you really need to know the questions they ask you every day for inbound to be truly successful.
5. Do your customers use social media?
Although not essential, it’s still beneficial if your customers are active on social media. This is because if someone sees something they particularly like, they’re more willing to share it with their friends or colleagues.
Creating content that you can share on social media is a great way to attract new customers to your website.
In saying that, we do have clients that get no results from social, but still do very well with www.
6. Are your salespeople finding it hard to reach customers?
Every day I hear this challenge from sales teams, and it’s usually a good indication that your industry is marketing in the wrong places.
Sales people tell me that they just can’t reach their ideal customers anymore. They are simply not calling or responding to their marketing messages.
If this is the case, then perhaps your industry needs a more inbound approach to its marketing.
7. Is your current marketing not meeting your goals?
I would assume that one of the reasons you are considering inbound marketing is that your current marketing is not getting you where you need to be.
It is simply not helping you reach your sales targets. If this is the case, it may be similar to your sales people saying they can’t reach customers.
Your industry’s buying behaviour may have changed, and inbound is a solution that reflects and adapts to that change.
Discovering whether your industry would benefit from inbound marketing can be hard, but take a look at the questions below. If your answers are mainly yes’s, there’s a very good chance inbound marketing could help you.
- Are your customers online?
- Does your sales cycle last weeks or months?
- Is the average lifetime value of a customer greater than £500?
- Do you know your customers well?
- Do your customers use social media?
- Do you find it hard to reach your customers?
- Is your current marketing not working?
Let me know your industry in the comments below and I would be more than happy to take a look and see if inbound marketing is a good fit.