Inbound marketing is all about attracting customers to your business. Online technology has changed and evolved how consumers interact with brands. People now control the information they receive, meaning it is up to your business to offer them what they want and to present it in a manner that is not intrusive. If you do not, you will run the risk of people ignoring your message.
Outbound marketing vs. inbound marketing, what are the differences?
When people think of outbound marketing, the first thing that comes to mind is usually a classic television advertisement. Other examples are radio ads, direct mail, cold-calling and tradeshows. The common thread throughout these examples is businesses reach out to people through mass marketing in hopes that they will find interested customers.
On the other hand, inbound marketing uses online technology to attract customers to a business. Businesses reach out to their ideal target audience by using tools such as content marketing, SEO, blogging, e-books, webinars, podcasts and social media to name a few, which provides relevant content that benefits the potential customer at the most relevant moment.
Today, both types of marketing are used successfully, but because consumers have greater control over what information they want to receive, inbound marketing is proving to gain much better results.
How will using inbound marketing benefit your business?
- Inbound marketing makes money. According to statistics, cost per lead in inbound marketing is 62% less than in outbound marketing while, at the same time, inbound marketing generates three times more leads. Also, creating a company blog on your website, using social media and other inbound initiatives are a lot less expensive than traditional outbound marketing tactics. Inbound campaigns attain higher ROI than outbound no matter what the size or budget of your company.
- Inbound marketing is more personal. You have all the customer data and have done your predictive analytics, therefore, you know your target audience and you know where to concentrate your marketing campaign. This highly personalized custom content gives your audience a feeling of being valued as your message is relevant to their needs and this improves brand loyalty.
- You can give the customers what they want. Inbound marketing shortens the sales cycle because your potential customers are coming to you when they are closer to buying. Because you are the expert, you can educate your customers as they are discovering you in their research phase. When people are researching a product or service and come across a company that provides really interesting content that they like reading, they have more positive feelings about the company afterwards.
- Your company will become better known, faster. When visitors like what they see and read on your social media channels, they are going to share your content with friends and family. In 2016, on Facebook alone, there were 1.86 billion active, monthly users. Those numbers are huge and translate into amazing growth opportunities when your content is widely shared.
- Inbound marketing goes where the customer is. People are not sitting at home waiting for their mail anymore; they are out and about with their mobile phones checking their social media accounts. Inbound marketing campaigns should always be mobile-friendly in order to reach people on more touchpoints in their purchasing journey.
At the end of the day, you probably do not want to spend more on high advertising costs and precious employee hours only to have your message disregarded because potential customers are annoyed and overwhelmed. A strong inbound marketing platform will not only raise revenue, it will help your company grow and flourish in this fast changing world.