If change is the only constant in life, nothing can define it better than Inbound Marketing. From the year 2005 when it was first introduced, till now in 2020, Inbound Marketing has come a long way. Today in 2020 though it looks very little like what it used to be in 2005, the pulse of it remains the same.
1. The journey from Conversion Funnel to Conversion Cycle
It was in 2018, that Hubspot shocked the inbound marketing world when they came up with the idea of changing the conversion funnel into the conversion flywheel.
The Flywheel has the following 3 phases.
- Attract: Create content and conversations that attract an audience.
- Convert: Convert prospects to customers by providing valuable information and solutions.
- Delight: Provide customers with an extraordinary experience that adds real value and encourages them to become promoters to the products and services.
While we have observed that a funnel loses its energy as it progresses, the energy on a flywheel is recycled. Since, the customer comes at a later stage in the conversion funnel, by the time it reaches the customer, the energy is almost lost. However, in the case of Flywheel, since the customer is kept right at the centre, the energy keeps on rotating around the customer.
What does that mean? It means that the customers you have already delighted with product or services will help you generate new sales and the process continues.
In 2020, we expect to see the Flywheel been implemented by various companies in their Marketing, Sales and Services strategy.
2. Progressive Forms
Forms are used to capture leads on your landing pages or campaign pages. However, it has been tested that, asking for too much information at one go can cause the visitor to get bored, uninterested, threatened for privacy and they may leave before completing the form.
Progressive forms intelligently resolve this issue in two ways: First, they ask users relevant questions one at a time and proceeds to the next one without making the user feel bored of filling a big form at one go. Second, they also “remember” the user and show them only the fields that they have left incomplete on a previous visit. With this method, users can complete filling up the data in multiple stages and marketers can also know about a lead if they are qualified for marketing or sales.
3. Predictive Sales Rating
Getting leads is just the beginning. Every Inbound marketer knows that the next step is to execute a rating strategy that allows us to detect if the lead is ready to be passed to the sales team, if they need more marketing communications, or if they should be considered as dead.
We have all heard about Lead rating. It is done through lead scoring, which includes assigning a series of points to the lead based on different parameters. On the other hand, predictive sales rating automates the process by using an algorithm that analyzes how the specific lead matters to the client. PSR examines whether they had converted in the past or didn’t take any action and then give it a score based on their conversion possibility. BlinkInteract suggests that in 2020 various marketers will look forward to PSR for sales conversion prediction.
4. Video Marketing still rocks
BlinkInteract predicts video is still going to be at the top of demand in inbound marketing in 2020. The below figures show how its popularity continues:
- 85% of all internet users in the United States watched at least one video content a month through one of their mobile devices. (source: Statista)
- 54% of consumers want to watch more video content related to the brands or companies that they follow. (source: Hubspot)
- 87% of marketing professionals use video as a tool in their strategy. (source: Wyzowl, 2019)
- Video marketers get 66% more qualified leads per year. That means that video marketing is a high-interest lead generation channel. (source: Optionmonster)
- Users spend 88% more time on a website if they have embedded video content than one that doesn’t. (source: Forbes)
- If on the same page, consumers have video and text to learn more about a product or service, 72% prefer the audio-visual option. (source: Wyzowl)
- Video captivates more than text. 95% of the audience is more receptive to remembering a call-to-action if they saw it on video, compared to 10% by reading it. (source: Forbes)
With improved smartphone cameras and increasingly popular formats such as live video, (which permits no editing), this format will be more in use for brands of all sizes.
5. Marketing Automation
“Email is not dead, it is evolving.” (source: Forbes) The statement perfectly sums up the current state of email marketing.
Recently a Hubspot study revealed that consumers don’t mind receiving frequent emails provided they are relevant to their needs. But, sending personalized and relevant communications can be challenging when we are managing a huge database. So what is the solution? Well, it is Marketing automation.
With a well-configured marketing automation platform, it is possible to activate email flows in response to various triggers, thus increasing the emails’ relevance to users. That doesn’t mean that we have to put all campaigns on autopilot, but it is about using technology intelligently to suit users’ needs.
Though various other factors might change the dynamics of Inbound marketing, we at BlinkInteract firmly believe that these 5 points will bring an impact on Inbound Marketing in 2020.