Did you know that inbound marketing tactics generate 54% more leads than traditional paid marketing methods — while costing 62% less per lead? Savvy marketers know that inbound marketing is an effective method to grow their business. But that doesn’t mean outbound marketing is completely out of the picture!
The fact of the matter is that both types of marketing work. It’s your job to figure out which one applies best to your situation. Here’s what you need to know about outbound and inbound marketing and how to decide which one is best for you.
What’s the difference?
There are two primary types of marketing: outbound and inbound. When businesses do outbound marketing, they reach out to consumers to advertise their product or service. Inbound marketing, on the other hand, involves creating content that will attract your target audience.
Outbound marketing doesn’t necessarily focus on your target audience. It pushes at everybody, regardless of their interest level in your brand. Outbound marketing also tends to be crafted around your product’s needs rather than the consumer’s needs. However, this marketing method does come with benefits, too: It’s easy to set up and often garners immediate results. Examples of outbound marketing include banner ads, cold calling, pop-ups, and radio ads.
Inbound marketing uses social media platforms to capture attention. When you post valuable content — information that can change the world or make the world a better place — you don’t have to ask for the sale. The sale will come to you. By talking about the subjects where you’re an expert, you’ll get attention. People will look at you with respect.
As you post content on social media platforms like Facebook, YouTube, TikTok, and other channels, more and more people will see your information. When they need help, they’re going to come to you because they’ve seen you know what you’re talking about. And when that phone call or email comes in, your sales team won’t have to convince the consumer that you’re good at what you do — because the consumer already knows.
The importance of inbound marketing
If you’re looking for an effective way to draw in your target audience, you can’t overlook the importance of inbound marketing. Inbound marketing campaigns have a higher ROI than outbound techniques regardless of company size, geography, or budget, with inbound marketing generating three times more leads per dollar than traditional methods of marketing. That’s why 75% of marketers in North America use inbound marketing as their primary marketing approach.
A better ROI, higher conversion rate with high-quality customers, and the opportunity to build trust among your target audience – it’s clear that inbound marketing is a must for any business that wants to succeed in today’s marketplace.
Where do you start? The first step is planning the content you’ll create. Make a list of what subjects you want to cover — topics that will be valuable to your target audience, and that you’re knowledgeable about. Tools like video, blogging, social media, SEO, and more will help you attract customers.
Once your content is ready to go, distribute that content where your target audience will see it. The best social media platform for each demographic varies. Select the channels where your audience is most active so you can engage them in relationships long-term.
Is outbound marketing still effective?
Although inbound marketing is important, outbound marketing can still be effective in the right circumstances. With outbound marketing, you’re getting out there and searching out clients, effectively grabbing a big megaphone and asking people to buy your products. In certain situations, this can work.
As you decide whether outbound or inbound marketing is best for you, think about your content strategy. Do you have valuable information you can put out there to help solve peoples’ problems? If so, focus on inbound marketing. However, if you want to go straight for the sale and you think your products are good enough, go for outbound marketing. Generate leads and try to get people to convert.
Long-term, inbound marketing is a better strategy. It takes more work. But it’s also a lot more profitable because you don’t have to spend a lot of money on advertising. Outbound marketing can also be effective — it requires an investment of a different kind. At the end of the day, the decision comes down to your approach, and what you feel is right for your business and its goals.
Author: Manuel Suarez is the CEO and founder of AGM: Attention Grabbing Media. He has won several awards, including the prestigious ManyChat “Top Performing Agency” award. He has worked with several well-known names and has helped thousands of small businesses to increase their digital presence. His company is also ranked on this year’s Inc. 5000 list. Click here to learn more: https://manuelsuarez.com/speaker.