THE MARKETS - "Inbound" Marketing is having the Prospect/Potential Buyer knock on your open door rather than you on there locked door! As opposed to static traditional "Outbound" Marketing, "Inbound" Marketing is evolving with the Power, Breadth and Depth of the Internet, Search Engines, Websites, Blogs and Social media! This new productive Marketplace is constantly on the move! Innovation is the constant! BenefitPlace.biz (BP) and BP Trade Show.com (BPTS) evolved from a Company, Vesta Ltd., that was entrenched in "Outbound" methods and strategies. BP & BPTS are assisting the Insurance & Benefits Industries make the transition to "Inbound" Marketing to reduce costs, create marketing inefficiencies, and enhance the consumer experience - Individuals and Organizations!
OUR COMPANIES - BenefitPlace.biz (BP) and BP Trade Show.com (BPTS) were created after many years of attempting to make our Parent Firm, Vesta Ltd., and our Broker Clients more efficient and cost-effective in terms of Client acquisition and retention. The goal was to "Shorten Selling Cycles", Reduce Marketing Costs, and Increase Revenues! We had experimented with all forms of traditional "Outbound" Marketing Strategies, ie:
- Trade Shows
- Purchasing Lists
- Cold Calling
- Call Centers
- Email Campaigns
- Expensive Advertising
In an early iterations of BP and BPTS we experimented with the concept of a permanent Insurance and Benefits related Trade Show in every Metropolitan Area. These locations were to bring the Providers of Plans, Programs, and Services related to Insurance and Benefits together with Prospects/Potential Buyers. Rather than utilizing the above "Outbound" strategies in an attempt to generate Clients, the potential Prospects/Potential Buyers would come to the facility to Research and Select the Plans, Programs, and Services to meet their Needs and "Price Points". This was our first glance at the concept of "Inbound" Marketing! Unfortunately, this model of physical sites was not feasible given the cost of well located real estate and the crash of the equity and lending markets!
While we were designing our business plan for the physical trade show sites, we had been tracking the maturation of the internet with the capacities to create efficient communications and transactions! Fortunately for BP and BPTS, the fast moving technologies made it possible to create a virtual Information and Research Center, BeneiftPlace.biz, and a 24/7 virtual trade show, BP Trade Show.com!
As we changed our focus from the physical sites to the virtual sites, we came to realize that a new form of marketing was in its infancy, "Inbound Marketing". A company named HubSpot in Massachusetts was, and is, a leader in this paradigm shift. HubSpot, with their constant flow of valuable "free" guidance - combined with their "free" HubSpot Marketing University - were instrumental in our gaining an understanding of the power of "Inbound Marketing" and its relationship to the Internet, Websites, Blogs, Social Media, Search Engines, SEO, etc.
We knew we were on the right track when we came upon he following quotes:
- “If you have more Money than brains, you should focus on Outbound Marketing. If you have more Brains than money, you should focus on Inbound Marketing.” Guy Kawasaki
- "Rather than interrupt the unqualified masses with traditional marketing strategies such as direct mail, telemarketing and advertising, you can connect with qualified consumers online when they are actively looking for what you offer." PR 20/20
THE SHIFTING MARKETS - As Wholesalers, Brokers, Employers, Employees, and Individuals increasingly utilize the internet when researching Insurance and Benefits related Plans, Products, Services, Organizations are shifting budgets away from print advertising, direct mail, cold calling, knocking on doors, traditional trade shows, and seminars toward more measurable and effective "Inbound" marketing strategies.
- In 2009 Searches for life insurance information grew to 16.6 million queries, an increase of 15 percent - comScor 2/2010
- 2009 - 246.8 million internet users in N. America - up 134% - Internet World Stats
- 92% shoppers have more confidence in info sought online - WSJ 1/2009
- Over half (51.0%) of consumers are using the Internet before making a purchase - Verdict Research 5/2009
- Delivering Qualified Prospects - Whatever Your Target Markets!
- Rolling-Out Existing, New or Updated Plans, Programs and/or Services!