A new study says that neither inbound nor outbound marketing tactics alone are adequate to drive a business. What it takes is a combination of both.
According to the Inbound Marketing Effectiveness Benchmark Study Report – Q2 2016 from Demand Metric and Act-On Software, most study participants agreed that a blend of tactics drives their businesses.
What’s interesting to note is that smaller companies (making less than $100 million in annual revenue) believe that a single type of tactic drives their businesses. In fact, respondents who agree that inbound tactics alone drive their business, 90% are small businesses. The same percentage holds true for those who believe that outbound tactics alone drive their companies.
Which Generates More Leads?
Neither! (Unfortunately, almost a quarter of respondents indicated that they didn’t know which one was more effective.)
Which Generates More Revenue?
“There is essentially no difference in how inbound and outbound marketing are generating revenue for this study’s participants. Even those who report that inbound marketing tactics alone drive their business still report that over 25% of their revenue is the result of outbound marketing tactics. For those reporting that outbound marketing tactics alone drive their business, over 36% of their revenue is the result of inbound marketing tactics.”
© 2016 Demand Metric Research Corporation
The reality is that they’re using and allocating budgets for both inbound and outbound marketing!
Top 3 Most Used Types of Inbound and Outbound Marketing
For inbound, respondents are using social and SEO equally (82%), blogging (60%), and PPC (pay-per-click) (41%).
For outbound, respondents are using email marketing (90%), tradeshows/conferences (62%), and press releases/media relations (61%).
The Bottom Line
The study concludes that inbound and outbound marketing have a symbiotic relationship.
As with all things marketing, there’s never one magic pill to success. It takes a multi-channel approach using a researched marketing mix that fits your products/services/mission, and target market segments.