Inbound Marketing

Not that long ago my wife and I bought a beautiful century old home. As first time home owners we needed lots of stuff for our landscaping chores such as a rake,  a shovel, hose and other goodies. I went online to compare brands and prices for a grass trimmer. During my Google search I noticed one of the largest chain of hardware stores advertising in Google's paid search. My first reaction was: Why would they do that? They spend millions on their advertising through print, radio and television. Then it became clear to me. Of course they would advertise and shift their advertising strategies.

The status quo is changing. The way that companies operate is changing. Companies no longer can afford to do business the old way. They must adapt with the paradigm shift of consumer shopping habits. The psychology of the consumer has been transformed.

In 1994 I was studying Engineering and a buddy of mine responded to a radio advertisement. The ad mentioned the website of the company and he said that he knew what that was. He knew what a URL was. Of course, this seems quite strange, but in 1994 the Internet was not main stream. Google, one of the most widely recognised companies known for its search engine was only incorporated in 1998. In 1994 Yahoo was just getting its beginnings as it was founded that year. There was no Flash, no smartphones, no Internet banking and no Ebay. Online chat rooms were just starting to become a fad for university kids. There was no social networking sites such as Twitter or Facebook.

It is now just sixteen years later and the consumers are now the hunters. They search their products and services before they buy. They are no longer only influenced by radio, print and other traditional advertising methods. The traditional way of outbound marketing is over. The Internet has brought forth instant results. People no longer have to wait for a flyer or watch commercials on TV or listen to the radio or search the local yellow pages to find deals. They can search a product to find out the best price and become influenced by reading reviews posted by satisfied and unsatisfied customers alike. Today's consumer has become enlightened. They now shop on their terms.

Inbound marketing is a newer term that describes this paradigm shift. Essentially, it is about being found by customers rather than the business going out (outbound marketing) and finding the consumer. How are you going to be found?

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