---
title: "Inbound Marketing: Aspirin for New Business Development Headaches"
description: Traditional business development practices for B2B banking tend to be unpredictable. Inbound marketing can be the aspirin for that headache.
image: https://www.trendingupstrategy.com/hubfs/Blog_Photos/dog-with-headache-from-ineffective-business-banking-marketing.jpg
---

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## Smarketing Blog

## Inbound Marketing: Aspirin for New Business Development Headaches

 by [Bruce Geiger](https://www.trendingupstrategy.com/blog/author/bruce-geiger)![](https://www.trendingupstrategy.com/hs-fs/hubfs/Hubspot_Persona-Avatars/BWG_-_MI_PR_photo.jpg?width=35&name=BWG_-_MI_PR_photo.jpg)

May 31, 2016

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Virtually every bank, almost regardless of size, has as one of its strategic goals to develop, and acquire, more good-quality business and commercial loans. They're lucrative for the bank, and extremely helpful to the growing business that needs funding.

Yet, curiously, almost everyone struggles to meet the goal of acquiring these business loans. It’s partly because every bank is gunning for pretty much the same clients. And, it’s partly because traditional [business development practices for business banking](https://www.trendingupstrategy.com/inbound-for-financial-institutions) – cultivating centers of influence and cold-calling – tend to be unpredictable and largely hit or miss. 

Consistently falling short of this target tends to be a chronic headache for the typical bank CMO. ![Ineffective banking business development marketing leads to headaches for CMOs.](https://www.trendingupstrategy.com/hs-fs/hubfs/Blog_Photos/dog-with-headache-from-ineffective-business-banking-marketing.jpg?width=598&name=dog-with-headache-from-ineffective-business-banking-marketing.jpg "Ineffective banking business development marketing leads to headaches for CMOs.")

## What’s wrong with cold calling? 

Research shows that 91% - better than nine out of ten – potential buyers won't even respond to unsolicited contact. And, more than seven of ten – 71% - say that cold calls are bothersome, according to [NoMoreColdCalling.org](http://www.nomorecoldcalling.com/stop-cold-calling/). Stunning statistics, although not terribly surprising when you think about it. After all, how do *you* react to calls from strangers, especially those offering services you don't have an explicit need for? 

Of course, the typical next step in the cold-calling process is to leave a voicemail. Except, according to [Inc.com](http://www.inc.com/geoffrey-james/why-cold-calling-is-finally-dead.html) fewer people ever retrieve those messages. In fact, the service has become so unpopular that some Fortune 100 companies, Coca-Cola for example, have actually discontinued voicemail services at their corporate headquarters, [Bloomberg.com reports](http://www.bloomberg.com/news/articles/2014-12-22/coca-cola-disconnects-voice-mail-at-headquarters).

## Universal Access to Online Information Makes Cold-Calling More Ineffective 

Another factor making cold calling an unproductive approach, according to Corporate Executive Board data as reported by [Brian Halligan](http://blog.hubspot.com/marketing/how-to-do-inbound-sales-slideshare-hspr#We%20know%20that%20about%2060%25%20of%20a%20prospect's%20buying%20decision%20is%20made%20based%20on%20what%20they've%20found%20online.), is thanks to ubiquitous online search, almost 60% of a prospect’s information gathering is typically complete before the prospect ever speaks to a single relationship manager! Plus, significant pre-existing opinions and beliefs are formed about you and your company before you even make the first contact.

## The Challenge Will Continue...Unless You Change Your Methods

So, as long as business loan lead generation continues to be mostly hit or miss, the challenge of reaching revenue and growth goals will continue. 

And when revenue goals are missed, unpleasant downstream issues can emerge, such as not having adequate funding for other initiatives. There can be other consequences as well. It tends to be a bit of a vicious cycle. If only there were an effective pain reliever for this chronic headache. Well, in a sense, there is. 

## Inbound Marketing: the Aspirin for Business Loan Lead Generation Headaches 

The problem in general with traditional outbound marketing is there’s no easy and reliable to measure or reliably quantify the return on your investment. 

![What if prospective business loan clients came to you?](https://www.trendingupstrategy.com/hs-fs/hubfs/Blog_Photos/what-if-inbound-marketing-could-fix-problems.jpg?width=320&name=what-if-inbound-marketing-could-fix-problems.jpg "What if prospective business loan clients came to you?")But, what if prospective business loan clients came to you, having provided their contact information on your website? And, what if they shared a challenge they were having, and you provided a practical solution with informational content? And, what if, through this new communication-strengthened relationship, the prospective client now trusted you to handle their business lending needs as a result? That, my friends, is precisely how [inbound marketing](https://www.julcreative.com/inbound-marketing-is-smart-marketing) works.

How well does it work? Well according to [Hubspot, State of Inbound, 2015](https://www.stateofinbound.com/), companies are three times more likely to realize higher ROI on inbound marketing campaigns compared to traditional older-style outbound marketing campaigns. As far as your banking business development marketing bottom line, it just makes sense.

## Use this Business Banking ROI Calculator to See for Yourself

Ready to dig in further on how inbound marketing can really fix the persistent headache of developing business loan leads? [Download the ROI calculator](https://www.trendingupstrategy.com/calculate-roi-financial-institution-marketing-spend), plug in your own numbers, and see first-hand how inbound marketing can start growing your business lending portfolio. Enjoy!

Topics: [Marketing for B2B](https://www.trendingupstrategy.com/blog/topic/marketing-for-b2b) [Inbound for Financial Institutions](https://www.trendingupstrategy.com/blog/topic/inbound-for-financial-institutions)

### About the Author:

### [Bruce Geiger](https://www.trendingupstrategy.com/blog/author/bruce-geiger)

![](https://www.trendingupstrategy.com/hs-fs/hubfs/Hubspot_Persona-Avatars/BWG_-_MI_PR_photo.jpg?width=100&name=BWG_-_MI_PR_photo.jpg)

Bruce is a marketing strategist at Trending Up. For a guy who lived on a dairy farm until he was six, he’s followed an interesting path. After getting an MBA in marketing, he started as an agency account supervisor and copywriter. He went on to lead a variety of marketing and communication functions in several large insurance companies and banks. As a writer, he’s passionate about being clear, concise, and conversational, especially when writing about inherently complex topics like banking, investments, and insurance. Otherwise, when pressed, he can also play blistering blues on his 1969 Les Paul Custom.

[Facebook](https://www.facebook.com/bruce.geiger) [LinkedIn](https://www.linkedin.com/in/brucewgeiger) [Twitter](https://www.twitter.com/BruceGeiger5)

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