Let’s be honest, the ultimate question, the one you get asked at the end of every month, quarter and year, is if your marketing efforts are generating revenue. Is all this time and money worth it? How specifically did it help?
The beauty of inbound marketing and why I am such a cheerleader for it is that it can easily answer that question. And time and time again I continue to see that the answer it provides is yes, it increased our revenue.
Here are 3 ways it can directly contribute to increasing your revenue.
1. Lead Generation
The core of the inbound marketing principles instruct you to create content, lots of it. Create it and give it all for free... well almost free. You exchange the more advanced content (whitepapers, webinars, eBooks, infographics) for contact information. So you start to generate advanced content, require contact information, then before you know it, BAMM, you’ve got yourself a nice list of leads. And leads that your sales team can contact and that aren’t cold. Who could ask for more?
2. Shorter Sales Cycle
Well, good news, inbound marketing still does more than just produce leads. Inbound marketing can shrink the amount of time it takes from initial lead contact to closing the sale. By providing them with even more great content and consistent communication (even if it is automated), you are warming up your leads even more. The result? They trust your company more, they are more informed about your product or service, and they are more willing to hear from you in the future.
Essentially this whole process is guiding them further and further down the sales funnel, making it less work for your sales team and less time required per lead. Oh and did I mention a closed sale means added revenue?
3. Loyal Customers
I think my favorite part about inbound marketing is that it doesn’t just stop working when a lead is converted into a customer. The content you create and consistently share is information that your customers enjoy. By continuing to share your content with your customers, you begin to build customer loyalty. Customer loyalty often turns into customers re-converting into another sale, which is additional revenue for your company. Customer loyalty can also produce referrals for your sales team, which again, is potential added revenue.
So does all this effort, this inbound marketing bologna, produce revenue? HECK YES! It can increase lead generation, shorten the sales cycle, develop customer loyalty, and can even provide additional leads from referrals.