A marketing service's survey shows investing in inbound marketing really pays off for small business owners
As the Canadian economy is on the path to recovery, small business owners are likely looking for cost-effective ways to catch consumer dollars. Now, an eMarketer report based on a study by marketing firm HubSpot might indicate social media is the most inexpensive way to generate business leads.
Inbound marketing strategies, in general, are the most cost-effective way to reach consumers. Respondents said that the average cost per lead generated from outbound marketing strategies was $332, while leads generated by inbound marketing strategies were less than half that cost at $134 each on average.
Social media, in particular, proved the most inexpensive way to generate new business. For 63 percent of entrepreneurs, social media blogs helped generate leads for less than their average allocated budget.
Facebook ranked as the premier social network site for lead generation. Seven out of 10 respondents claim they found customers among the 400 million Facebook users.
Canadian small business owners might consider starting a Facebook marketing campaign now to cash in on increased spending. Nielsen Global's Consumer Confidence Index shows Canadian consumers are increasingly confident in the markets.
