There is no denial in the fact that outbound marketing was the game to play for any Business just half a decade ago. But in this era of technological advancement Inbound marketing is the new cool, not just to flaunt about using it in your Business. It has many reasons to take note upon especially if you’re just starting out.
There is a famous quote by Kawasaki “If you have more money than brains, you should focus on outbound marketing. If you have more brains than money, you should focus on inbound marketing.” This clearly elaborates the importance of inbound marketing in today’s world.
To find out which one is better, first we need to know more about inbound Marketing and outbound marketing.
What is Inbound Marketing?
Inbound marketing is a strategy that utilizes many forms of pull marketing – content marketing, blogs, events, SEO, social media and more – to create brand awareness and attract new business. – (Definition in marketo.com)
The most common types of Inbound Marketing are SEO, Blogging, Social Media, Live Events and Webinars.
To replace obsolete “renting attention” selling techniques, corporations are deploying new ways in gear at building awareness, developing relationships and generating leads. In short, inbound marketing attracts customers to you thus you’re not chasing them down. It helps prospects realize your company within the early stages of their decision-making method, resulting in a stronger influence on their future shopping for choices.
Advantages of Inbound Marketing
Inbound marketing offers various advantages. At the point when used viably, it can:
- Shape a brand inclination and impact future buys.
- Produce web-based social networking offers and inbound connections.
- Placed clients in the driver’s seat.
- Help fuel website improvement endeavors.
- Increment mark mindfulness.
- Empower clients to draw in with your image at their purpose of need, day in and day out.
- Produce qualified leads for less cash.
Not at all like conventional marketing activities, inbound endeavors expand upon themselves after some time. For instance, a solid bit of substance offers numerous quick and long haul benefits. It conveys thoughtfulness regarding your organization when propelled and will keep on resource your customers the length of it remains on your site. As the substance acquires presentation, it can then turn into a progressing wellspring of inbound movement through website improvement (SEO), social shares and word of mouth.
What is Outbound Marketing?
Outbound marketing is the primitive form of marketing where a company initiates the conversation and sends its message out to an audience.
Outbound marketing examples: Trade shows, TV commercials, radio commercials, print advertisements (newspaper ads, magazine ads, flyers, brochures, catalogs, etc.), cold calls, and email blasts.
Outbound marketing is the inverse of inbound marketing, where the clients discover you, for the most part through different paid and regular web crawler marketing endeavors. Outbound marketing is harder to track and less productive than inbound marketing, yet amusingly, associations still spend as much as 90% of their marketing spending plans on outbound marketing.
Associations hoping to enhance their deals and profit for marketing spend would be very much encouraged to re-designate an expanding rate of their marketing spending plan on inbound marketing. In any case, inbound marketing has for quite a while been troublesome and staggeringly tedious to actualize.
Outbound marketing constitutes the larger part of marketing spending plans for some organizations. It’s been around for a very long time and some significantly think of it as a cost of working together. Outbound marketing, however, introduces a considerable measure of challenges, and custom and past errors ought to never hinder adjusting to changing marketing patterns.
Reasons why Inbound marketing is advantageous to traditional marketing:
Now Let’s focus on some of the reasons why Inbound Marketing is advantageous to the traditional one:
1.) Inbound Marketing is more Economical
Inbound Marketing is “Bang for the Buck” a famous quote relevant to this advantage.
It is easy to imply that Traditional Marketing which includes advertising on Televisions, Radio, Print, Bill Boards and so on use a huge amount of money compared to Inbound marketing.
Inbound marketing Is a practical and profitable approach though it also includes cost to create content and SEO but the costs are not as much as Traditional Marketing.
2.) Inbound Marketing is personalized
Personalized content is more relevant than ever. Inbound marketing focuses on building relationship with customers through customized content. It engages the customers individually and is more relevant than Traditional advertising, which was used primarily to build Brand awareness.
3.) Inbound Marketing works on your Approval
People are never amused when they receive calls from a telemarketer or an Advertisement between your Favorite show. This torture is overcome by Inbound marketing, as it always shows you relevant content and only appears when you have given approval or “opt-in’s”
Inbound marketing does not force you to see anything as you are the one who decides to visit a certain website. Social Media sites like Facebook, Twitter display only relevant ads related to something you search frequently as they might be Re-targeting and even those does not bug you for your time. You are free to ignore it unlike Television or Radio Ads which can’t be ignored.
4.) Inbound Marketing is Continuous
Traditional Marketing through various means of sources can be done once at a certain time period. Then the Business men has to Invest again (regardless of their Returns) in the next season.
On the Contrary, Inbound Marketing with the use of white paper and eBook’s can sustain itself. Its content has to be created once and you are good to go, People can download it year after year. It can generate leads for numerous amount of years.
5.) Inbound Marketing is Time-Saving
Traditional Marketing strategies like Trade fairs, Road shows take a lot of time to plan and execute. Trade shows last weeks and takes longer to plan, transport, set up, and tear down. This also requires a lot of manpower.
Maybe Inbound marketing cannot take back the time needed for Content Creation, but many parts of it can be automated to save a lot of time.
Inbound Marketing may not be the answer for all you marketing efforts but in this era of digitization it certainly cannot be ignored. Nevertheless, it is essential for the businesses to know which marketing strategies will work for them with the best possible return.