Today, we can get any information about anything at the touch of a mouse button. Before we make a purchase decision, we research our options first online. In the words of HubSpot CEO Brian Halligan, inbound marketing is “where you help get found by people who are already learning about and shopping in your industry”.
You earn their attention by creating blog posts, videos, white papers, email marketing, ebooks and through sharing this content on your social media channels. The function of this content is to inform, engage and add value to your customers which creates a personal connection; when they’re ready they will decide to buy something from you.
Outbound marketing was once the only form of marketing. It pushes messages at its audience whether they want it or not and It’s very interruptive. By contrast, in inbound marketing “your customers find you when they need you”.
According to HubSpot CEO Brian Halligan, outbound marketing strategies are becoming less useful today. The reason for this is two-found. Firstly, because we are flooded by 2000 outbound interruptions every day and there are more innovative ways to block ads.
There is called ID, spam filtering, ad blockers, and Sirius sattelite radio and there are more people registering their number on the Do Not Call List with the DNC Registry.
Secondly, people can easily find out new information about products and services from their mobile or desktop using the internet (blog posts, social media, search engines).
According to Google, people spend 70% or more of their time researching products and services online before contacting someone in sales or reaching out to a company.The Inbound marketing method is about bringing more people to your business “who are actively in the market”. Another benefit of inbound marketing is it brings your business into alignment with the buyer’s journey.
Let’s how this plays out in an actual example:
Blogging
Email Marketing
Social Media
SEO
Lead Magnets
Content creation
Inbound marketing methods like these help potential customers to find your business earlier on in the buyer’s journey. They also educate them on the advantages of your specific solution, while gradually building your prospect’s trust.
Despite all outbound marketing’s drawbacks it still has its benefits. Here are the benefits of both:
Inbound marketing focuses on adding value to your potential customers. The majority of consumers prefer Inbound Marketing helpful approach to outbound marketing efforts that disrupt their day.
Inbound marketing has a longer-term Return On Investment and even blogs that were published years ago can continue to draw ample traffic. One disadvantage is Inbound Marketing can incur a large cost upfront. Although, from the perspective of an inbound marketer, it can take time to build assets such as writing blog posts, creating ebooks, and building a client’s strong presence online.
The advantage of outbound marketing is by using traditional media like print and radio advertising, it puts you in front of millions of people and builds awareness quickly.
You can also combine your inbound and outbound marketing efforts. First, run an outbound campaign to get in front of a larger audience and get new customers quickly, then use an inbound strategy to offer them helpful solutions that meet their needs. You can also use Inbound and Outbound Marketing together to target a larger audience and get qualified leads.
There are merits for both inbound and outbound marketing. Some businesses who focus on outbound enjoy great success, others choose inbound marketing exclusively to grow their business. Which one you choose will depend on the target audience you are trying to reach, your objectives, and your brand. All three are discussed below:
You need a clear idea on who your target audience is. Think about how they choose to buy and where they find out more about the solutions you provide? To get a clear understanding take a look at your competitors and trends in your industry. What marketing strategies do businesses use and which are more effective?
What are your end goals? Do you want to increase brand awareness or do you want to get more traffic to your website? How many new customers do you want to get, and in what timeframe?
If you have a short timeline and you need to spread awareness as quickly as possible, you might consider choosing an outbound strategy. However, if you are looking to get long term Return On Investment (ROI), then inbound marketing is the better choice.
If you launch an aggressive bulk emailing or cold call outbound marketing strategy how will potential customers view your brand?
When choosing inbound or outbound marketing tactics ensure that it’s something where you don’t need to bow your head in shame. Put yourself in your customers shoes; how do you think they will respond?
You may decide to do a bit of both. You may think of running an inbound campaign to get in front of a large audience, then prioritize helping them by offering solutions, rather than pushing solutions at them.
Take Mark, our client’s customer that is looking to sell his fixer upper. To get more people like Mark to engage with your client you may run a paid ads campaign. When prospects click on your ad and get directed to a landing page to download your guide on “How To Sell Your Fixer Upper Quickly?”
This tactic works because you’re helping to educate, inform and engage your audience and help them through their buyer’s journey.