With a brand value of more than $111 billion and a number two spot on BrandZ’s Top 100 Brands list, Google has proven that it doesn’t take advertising to build one of the world’s most valuable brands. How do they do it?Inbound marketing.
The traditional advertising model is broken. And in this case, companies will benefit from shifting fromoutbound to inbound marketing.
Outbound marketing encompasses the traditional forms of advertising in which a marketer pushes a message far and wide, hoping that it finds its way to a target audience and generates returns. This style of marketing is getting outdated and less effective for two reasons:
1)Over-consumption: According to an article by Louise Story in “The New York Times,” an average city dweller is exposed to more than 5,000 advertisements per day. Story said, “Consumers’ viewing and reading habits are so scattershot now that many advertisers say the best way to reach time-pressed consumers is to try to catch their eye at literally every turn.” Consumers are figuring out more and more creative ways to block out these messages, including caller ID, spam filters, Tivo and Sirius Satellite Radio.
2)Wasting money: The cost of advertisements is extremely high. Learning something new, shopping, or gathering information is not only easier and more accessible on the Internet, but the costs are much lower than billboards, tv, print and radio.
Inbound marketing doesn’t only relay a message, but it also creates a variety of content that is actually interesting to your audience. Moreover, it leads to them finding you. Instead of using DVR to avoid advertisements during their favorite TV shows, for example, consumers seek you and your message on their own time.
The best way to do this is by making your website a “hub” for the audience interested in your industry. Consumers are attracted to your website from search engines, blog posts and social media sites. Making it easy for your customers to communicate with you provides feedback with which to improve your product. No longer is the message just being sent out by you, but your best customers are also doing the marketing for youon their social media sites and blogs.
To add the icing to the cake, sites like Google Analytics, HiStats, and StuffedTracker track the readership statistics for your site, enabling you to use the data optimize your online presence and boost your brand.
It’s time to transform your marketing strategy. Google’s brand dominance is evidence that it doesn’t take millions of dollars in TV ads to be at the top of the list–just an inbound marketing strategy instead