We've been doing some reading on the subject of inbound vs outbound marketing. Outbound marketing is the one that most people have come to know such as advertising on TV, radio, digital media, and print (newspapers/magazines, billboards, flyers, brochures, catalogs, direct mail, etc.) It also includes trade shows, telemarketing, and unsolicited emails. We've even heard outbound marketing called "interruption marketing" because you haven't asked the person's "permission" to speak to them - think commercials that interrupt your favorite TV show. Not only this, but you are also adding to the media noise - just hoping to catch a prospective client's attention. According to Forbes.com, "More than 84 percent of young adults have deliberately left a “favorite” website because their advertising was intrusive."
You also have to involve more people to execute this strategy. For example, if you are doing a trade show you, have to secure your booth spot (and all spots are not created equal), create the materials, design the booth, staff the show...the lists and costs go on. With something like a direct mail campaign, there is a sort of "shelf life" for leads. Say you have a coupon in your piece that expires in one month. Once the materials have been mailed, there is a window of opportunity when having the consumer's attention. It naturally fades as time goes on and then you have to gear up and create another campaign. Keep in mind, an average rate of return on investment is considered to be anywhere from 2-4%.
On the other hand, an inbound marketing program has the potential to generate leads that are warmer because you are inviting people to find you for information and services they actually need. Forbes.com reports, "Inbound leads tend to be far warmer and more familiar with your brand than outbound leads. These [people] choose to read your content and if they reach out, they’re [probably] ready to buy with you." An informational blog post (with appropriate keywords) on your website is a good example. Others are: Search engine optimization, social media platforms, whitepapers, infographics, e-books, case studies (customer spotlight), webinars, or podcasts, In addition, according to Hubspot.com inbound marketing leads have a per-lead cost that’s 61 percent less than those generated by outbound marketing and 67% of B2C businesses gained new customers through Facebook, 57% through LinkedIn and 42% through Twitter.
If your company is more focused on outbound marketing, it might be a good time to consider more inbound marketing efforts. Give us a call to help walk you through some of these efforts.
Salty Red Dog Marketing, LLC is a marketing agency in Westport, Connecticut, and Red Bank, New Jersey. We service businesses with marketing strategies, digital marketing, social media, and consultations.
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