For all of us involved in the B2B sales and marketing profession, we'd probably agree the single biggest change to the marketing function in the last 20 years is what we've come to know (and love) as Inbound Marketing.
Inbound Marketing in the Last Decade
There’s a consensus, however, that in its early days, Inbound Marketing wasn't the business juggernaut it’s become in the last decade or so. Over this time period, Inbound Marketing has taken off like a rocket ship; its popularity is now vast and global for businesses big and small. While this posting is not about the business viability of Inbound Marketing – as I assume you’re already aware of its effectiveness – I will share some important and key data points about it.
If, however, you would like to be able to verify and reference in-depth information about Inbound Marketing and related statistics (such as businesses that implement Inbound Marketing can generate up to 126% more leads than without it), check out this blog post from Constant Contact along with some other hyperlinks they provide in their posting here. In addition, the Inbound Marketing agency protocol 80 has multiple case studies featured on their website. They provide in-depth assessments and performance results for Inbound Marketing strategies implemented at several U.S. firms. You’ll find their case studies here.
Digital Marketing Space at $1.099 Trillion by 2032
According to a report published by EMR Claight, an international market research company, the size of the digital marketing space worldwide in 2023, of which Inbound Marketing is an integral and dominant component, was $363.05 billion. The growth rate of this space over the next 9 years is expected to be 13.1% CAGR, taking the market size to $1.099 trillion by 2032.
With Inbound Marketing's ever-increasing popularity, combined with a proven track record of quantifiable success, believe me when I say your competition is getting in on the action. For all you Inbound Marketers, long gone are the days when less-forward-thinking competitors are standing on the sidelines while you're the only player in the game of Inbound Marketing.
These days, you now need to take your Inbound Marketing strategy and supporting tactics to a much higher level to stay ahead. And what exactly is this playing field we’re talking about? The all-important buyer's journey.
In my next posting, I'll talk about what Inbound Marketers should consider as more and more companies implement Inbound Marketing as a business strategy and what it will take in the months and years ahead to win the battle of the buyer's journey.