How Do I Know if Inbound Marketing is Worth the Investment?
Are you considering inbound marketing but aren’t sure if it’s going to be worth the investment?
This is something you should definitely be thinking about carefully if you see inbound marketing as a potential way to grow your business.
To make the best decision, you need to know the true value that inbound could bring.
Maybe you’ve tried other methods that just didn’t work in the past, and want to avoid making the same mistake again – which is perfectly understandable.
I speak to many business owners every day who ask me this question and share the same concerns, so don’t worry.
To make things a bit easier, I am going to go over some questions you can ask yourself to determine whether inbound marketing is worth the investment for your business.
Do you know your numbers?
How much do you think inbound marketing could increase your revenue?
To know if it is worth the investment, you need to be able to answer this question.
If you are currently speaking with an inbound marketing agency, they should be able to help you understand this.
If not, then try this handy inbound marketing revenue calculator that will give you an idea of how much extra revenue inbound marketing could bring your business.
The more information the agency knows about your business, the better they can understand if you are a good fit for inbound and what measurable results you could see.
What are your goals?
Similar to above, you need to think carefully about your goals and whether you have realistic expectations of inbound marketing.
For instance, say you want to increase your revenue by 50% – that seems like a fairly good number, but how are you going to achieve this? How much of a part will inbound play?
Will you adopt an inbound culture?
Inbound marketing is a methodology and requires a culture change within your business – especially from your sales team. For inbound to be worth the investment, you will need to adopt inbound across your whole business.
If you don’t, the investment may not see the returns that was promised to you.
According to HubSpot– a leading inbound marketing software company – the businesses that adopt an inbound culture the most actually see the best results.
Why are you looking at inbound marketing anyway?
What has brought to seek out a solution to your current challenges? Are you seeing limited success with your current marketing efforts?
If so then inbound may be the lifeline your business needs.
Let me be honest with you; there are no guarantees with inbound – if there were then the cost to do it would be a lot more expensive.
Like with any investment, there is an element of risk.
If you are someone who always likes to play it safe then inbound may not be the best fit for you. However, if you are someone who is prepared to take some risks with the potential to see some massive gains, then inbound could just be the answer.
Every partner I have ever worked with took a risk when they started with inbound, but every one of them were glad they switched to a more inbound approach for their business.
Deciding whether inbound marketing is worth the investment can take some careful consideration. However, it’s also a question that can be answered by looking at all the facts.
- Do you know what extra revenue inbound marketing could bring to your business?
- Do you know how much inbound is going to cost?
- Are you totally bought into the inbound methodology?
Being able to answer these questions will go a long way to helping answer your question about whether inbound is worth the investment.
Try out the inbound revenue calculator and then come back and add a comment below, telling me your thoughts. Is inbound marketing worth the investment to you?