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Inbound Marketing Budgets Are Increasing -- Is Yours?

 

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What's in your wallet? Are you spending enough on inbound marketing?

More companies are increasing their budgets for inbound marketing as they realize its effectiveness over traditional outbound marketing techniques. HubSpot's 2010 State of Inbound Marketing report shows that 88% of marketers surveyed either maintained or increased the amount of money spent on PPC, SEO, social media, and blogs from last year.

2010-Inbound-Marketing-Budget

Significantly higher than last year, 51% of marketers increased their budgets after having past success with inbound marketing, while 37% maintained their budgets. The survey also explained that economic conditions was the main reason why the lingering 12% lowered their budgets.

So are you spending enough on inbound marketing? Starting off with a blog is usually the easiest first step, and then expanding your budget to include social media, SEO and PPC can follow.

Other key findings of the 2010 State of Inbound Marketing report:

  • Inbound marketing-dominated organizations average 60% lower cost per lead than outbound-dominated organizations.
  • Over 40% of customers using Twitter, Linkedin, Facebook and company blogs have generated a customer from that channel.

 

Webinar: The 2010 State of Inbound Marketing

2010 State of Inbound Marketing

Learn how more than 230 professionals have been using inbound marketing to transform their businesses.

Download the free webinar to learn more about the effectiveness of inbound marketing.

comments Comments

Posted by Roshni Mirchandani on Tue, Mar 02, 2010 @ 07:30 AM

COMMENTS

I actually think overall marketing budgets should be going down b/c inbound marketing is actually much less expensive than outbound marketing to do right.

posted on Tuesday, March 02, 2010 at 8:10 AM by Brian Halligan

I wonder what this graph would look like if you could some how separate large businesses from small businesses.  
 
I suspect many small businesses are allocating more resources to social media because it's much more effective than say the yellow pages or producing a small budget television commercial. And this graph aptly represents that. 
 
I wonder, if you make a distinction between the two groups does the data still hold true? I know the stories of some of the big brands and social media, but how many are actually embracing it.

posted on Tuesday, March 02, 2010 at 8:32 AM by Greg Digneo

We did some research on companies that sell in to senior living and found that the small companies actually had a large shift to inbound marketing than the large ones. Much of this has to do with the fact that they have a large basis of budget and even a large investment in inbound marketing doesn't change the ratios vs. traditional marketing and PR all that much. 
 
Ryan

posted on Tuesday, March 02, 2010 at 8:38 AM by Ryan Malone

I agree with Brian that "overall" marketing budgets should be decreasing because of the associated lower expense. On an absolute basis, inbound marketing budgets should be increasing as more resources are deflected away from outbound marketing and redeployed in inbound marketing efforts. The shift will be quicker in the small business space vs large business because there is less corporate structure. Large business usually has more jobs resulting in a greater effort to manage the associated anxiety with change.

posted on Tuesday, March 02, 2010 at 9:27 AM by Doug MacFaddin

Brian is spot on with his first comment. My company used to spend about 150k in advertising annually as a small business. Last year, we spent about 25k and got more leads. And how'd it happen? By practically eliminating outbound marketing from our company's vernacular and setting our heart and minds on Web/Marketing 2.0--- ie Inbound Marketing.

posted on Tuesday, March 02, 2010 at 10:23 AM by Marcus Sheridan, The Sales Lion

i think the key driver here is that the truth about the ineffectiveness and high cost of outbound marketing is getting through. In addition, mounting evidence to the tune of 60% lower cost per lead for inbound marketing strategies is becoming a reality. Thanks to Hubspot for thought leadership and tools to make it easier to realize these benefits.

posted on Tuesday, March 02, 2010 at 12:44 PM by bill palmer

Comments have been closed for this article.