The degree of interest prospects have in your product category, competiton and budget all affect the results you can expect from Inbound Out Marketing.
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Product or Service Interest
More interesting product categories have more searches. It's easier to get people to visit your website and it's easier to entice visitors to complete a form and become a lead. If your product or service has unique capabilities or an unusually high or low price point, visitors may be more interested.
It's all harder with less interesting product categories. Products that seem humdrum or products where visitors think they already know everything are less interesting to prospects.
Competitors
Some markets already have a number of competitors who are investing heavily in digital marketing. To compete, you have to invest more to catch up and keep up. Worse, the level of competition may lower the number of leads you get for your investment.
Not having any competitors can also be a problem. It can indicate that your product category has not achieved wide recognition and prospects are not looking for your solutions.
Budget
Not long ago, few companies had discovered online marketing and it used to be much easier and less expensive to deliver great results.
Not any more. Almost every company is doing some inbound marketing. Fortunately, many are not doing things that well, so there is still opportunity for your company.
The essential ingredient is to create and promote valuable content—information that prospects crave and love. We've seen an explosion in lousy content. That's why you want to have great content—to stand out from the crowd.
Still, it takes real work and specialized skills to build excellent content. Either invest in your own team or hire a professional team.
We recommend that you budget at least $5K per month. Perhaps less if you already have some strong internal team members. It is possible to get limited results with a lower budget—just expect fewer leads at a higher cost per lead.
Takeaways