What Is Marketing?
It is more important to know what is marketing before talking about inbound and outbound marketing. In business, Marketing can be defined as the process of raising awareness about products/services, where a set of service and ideas are formed and moved from a concept to the consumer. In layman terms, marketing is the process of communication with the audiences about the services, goods or product of a company, in order to promote and sell the items they look to sell.
Marketing over the years has evolved and can be classified into two broad categories;
1. Outbound marketing.
2. Inbound marketing
I am writing this post to tell you about Inbound Marketing vs. Outbound Marketing Strategies which will help you in choosing right marketing strategy for your business.
Outbound marketing is primarily the traditional type of marketing method that is being used by most of the organization till today. It includes initiating a conversation about a product or service by use of traditional marketing methods of products via television, setting up extensive trade shows, email marketing, and cold calling.
Whether a business promotes their products and services on the television or the newspaper, these traditional methods are still highly preferred by many industry players.Outbound marketing is difficult to track and less profitable than inbound marketing, and still organizations spend about 90% of their marketing budgets on outbound marketing.
Types of Outbound Marketing Strategies Include:
- TV/radio advertisements
- Newspaper advertising
- Trade shows
- Press releases
- Direct mail (brochures, postcards, catalogs)
- Email marketing (the outbound type)
- Phone Marketing ( Cold Calling )
Few facts about Outbound Marketing
- 200 million people are on the national Do Not Call Registry
- 86% of people skip television ads
- 84% of 25¬–35 year-olds are likely to click off a website with excessive advertising
- Traditional Outbound marketing methods to source leads and customers generate just 22% of all leads
- 44% of direct mail never gets opened
- Cold calling doesn’t work 90.0% of the time
1. Huge investment, low yield – This marketing involves spending considerable amounts of budgets on techniques like printing, advertising and on creating video commercials for telecast on television. Though the amount spend is large, the percentage of the population affected by the impact of this technique is quite small. As the result, the expected yield out of a significantly spent budget proves to be low.
2. People can block outbound approaches– With the improvement in technology and public awareness, people can prevent the communication of companies in case of outbound marketing. Facilities like Do Not Disturb and Spam filters (known to filter Emails and recognize those which are spams or those which are automated) have eased people’s lives from irritating marketing schemes of the companies.
Inbound marketing is the process of attracting people towards the products via the internet and social media. Inbound marketing, in turn, uses pretty less capital and can produce a staggering amount of customers.
Inbound marketing is the reverse of outbound marketing. instead of trying to attract the customer by calls, emails and advertising, the focus is primarily on creating some indulging relevant content that can achieve some loyal consumers. In other words, the term inbound refers to the idea of letting the consumers be informed about what they give permission for. The notion of inbound culture is to create a theme and nurture it. To list down the building of an inbound market, these are some of the initial prerequisites.
Few Facts about Inbound Marketing
- 32% of brands decrease spending on outbound to spend more on content marketing
- Avg. cost to generate a lead by inbound marketing ($143) is 1/2 the Avg. for outbound ($373) Source: Inbound Marketing Agents
- Brands relying on Inbound marketing save over $14 for every new
- Inbound marketing costs 62% less per lead than traditional outbound marketing
Inbound marketing involves creating content-rich websites, blogs and social media content that helps customer prospects find your company and product when they are actively involved in searching and seeking information.Inbound marketing works better because you are pitching to a person who expressed some interest in your product.
In order for inbound marketing to be effective, there must be keyword-rich content and links so that search engines find and rank your website. This obviously requires content as well as time so that the search engines may find the content and rank it in their search results.
By Inbound marketing strategy, Consumers usually find your brands and products through various paid PPC and natural Search engine optimization (SEO), search engine marketing (SEO ) techniques.
Now a days Organizations are frequently using different types of Inbound marketing strategies.
Types of inbound marketing Strategy include:
- Search engine optimization SEO
- content Writing
- Content Marketing
- Social Media Marketing SMM
- Search Engine Marketing SEM
- Social media campaigns (Facebook, Twitter, Google+, Pinterest)
- Pay Per Click ( Google Adwords, Bing Ads)
- Video marketing
Inbound marketing Strategies can open new possibilities for promoting your products, communicate among your customers and build brand reputation.
Why Inbound Marketing is Better than Outbound Marketing
• It Is Cost Effective – In comparison with outbound marketing, inbound marketing is incredibly cost effect. Company don’t have to spend so much to engage audience using platforms like blogs, social media profiles, and promotional videos
• Efficiency – Inbound marketing strategies, if applied properly, will win your target audience with full strength. Inbound marketing can attract customers to you like a magnet pulling needles.
Inbound marketing is more efficient and effective than outbound marketing but until people know and understand a company well, there’s very less return by inbound marketing methods. Outbound marketing significantly increases the probability of initial sales.You must consider your market mix with current trends in your industry before using outbound marketing method. Outbound marketing is also still effective if you’re in a B2B industry and your target audience is of an older generation.
Hire Rohit Sharma Now – Freelance Inbound Marketing Consultant & Expert India
If you’d like to discuss any idea or you are planning to hire me for Inbound Marketing Project.I can help you in preparation your marketing strategies for your business. I work as Digital Marketing Consultant and SEO expert.As freelancer and Consultant, You can consult with me for Inbound Marketing Strategies, Search engine optimization SEO, Social Media marketing SMO, content writing and content marketing.
I can work as
- Digital Marketing Consultant
- SEO Expert
- Online marketing Consultant
- Content Marketing Expert
- Video Marketing Consultant
- Inbound Marketing Consultant
Please provide the information in contact from in the below sidebar. We can fix an appointment for a private phone consultation, Payment would be the charges for each and every service you will take as per mutually our agreed quotation on email.