Which is more beneficial? Outbound or Inbound marketing?
In last week’s blog, we discussed and analysed whether outbound marketing is still effective with the current marketing industry trends.
This week, we will be exploring inbound marketing and analysing which marketing strategy is more beneficial for you.
Firstly, what is Inbound Marketing?
Inbound marketing is the polar opposite of outbound marketing. Outbound marketing is throwing your content out there to millions of people and hoping for the best. On the other hand, inbound marketing attempts to attract potential customers with specific, targeted content. Outbound marketing pushes content out while inbound marketing pulls people in with their content.
Inbound marketing tends to expose their content only to potential customers, pulling interested individuals towards their marketing material. The strategy is to be found by customers, instead of finding the customers. Potential customers can then express their interests through the different platforms the content was exposed in. The few most effective inbound marketing tactics include content marketing - white papers, ebooks, blogs, infographics and podcasts. Content marketing is shared and spread through various online networks such as Facebook or LinkedIn, these platforms help to increase the number of reach to the content giving it a potential to grow virally.
Generating a two-way communication and interaction between the marketer and the target audience - for example, allowing people to leave comments on the company’s blogs, generating a platform in LinkedIn allowing potential customers to know your business or even providing free ebooks in exchange for their email address.
Trying to get a person’s attention vs ‘buying’ a person’s attention is the difference between Inbound and Outbound marketing. Despite outbound marketing’s effort to ‘buy’ the audience’s attention, it is still not as effective as inbound marketing which requires a lower cost and gets more responses.
Why are customers obtained by outbound marketing considered to be “bought”?
This is due to the contrasting effort in the monetary sector involved in outbound marketing. Purchasing billboards, paid advertisements on television and print advertising, over the total customers that responded through those efforts is relatively lesser than what you can achieve through inbound marketing.
According to Hubspot’s article posted on 2013,
43% of marketers generated a customer from LinkedIn
More than half of marketing agencies (51%) reported positive ROI for their inbound marketing efforts
57% of marketers who blog monthly acquired a customer directly from their blog.
The following is an infographic done by Voltier Digital, it demonstrates the difference between inbound and outbound marketing.
Leave a comment below to tell us your take on Inbound and Outbound marketing !