The emergence of inbound marketing has already created an immense buzz in the last decade.
Debate about its relevance has already caught the heat. The effectiveness of inbound marketing and outbound marketing has been reflected over prior to its implementation. The world has been changing constantly at a quicker pace on a strategical level. In fact, it has set the biggest example of this scenario with as big companies have switched to inbound marketing from outbound marketing.
Adoption of inbound marketing doesn’t imply that outbound marketing is completely eliminated from the market. There might be many companies which are no more relying on its usage. However, its implementation depends more or less on the vision of company in terms of reaching out to its target audience.
This article is not intended at providing statistics to assess which of these two marketing processes is superior. Nevertheless, we are going to discuss how these two work and which one should you choose depending on your business type and its requirements.
Understanding outbound marketing
In the most simplest terms, outbound marketing is all about reaching out to the masses while keeping aside the fact the level of interest shown by people towards it. The motive of this form of marketing is to advertise company’s product by sending across the message to the target precisely. These actions manage to attract 1% of audience who is actually interested in buying products or services of the company.
The problem in this type of marketing is that people are usually loaded with huge amount of ads on a daily basis. As a result, they get fed up the moment any ad shows up on TV, radio or email etc. It is very simple for them to turn off the device or mark the mail address as spam so that ad will never pop up again.
The communication is more or less one way in outbound where advertiser reaches out to audience. Outbound marketing includes following ways to promote company’s products or services:
- Pay per click advertising
- Direct mail
Outbound marketing does not take buyers’ journey in consideration unlike inbound marketing. I will discuss about the same in this article.
Relevance and impact of inbound marketing
With the advent of new technology, consumers have become smarter and they tend to understand the needs of customer in a better way. People just type their query right away on Google which in turn results in displaying results within seconds. This purpose is precisely the approach of inbound marketing to attract the target customers. This type of marketing utilized consumer research rightly and took them through the journey of the product or service by focusing on the utility of the same. It is all about representing company’s pros in terms of promising services while touching upon its relevance. It showcases the outstanding features of the business to the target consumer when the consumers are actually planning to buy something.
For eg- If someone searches on Google about “life insurance”, then, it will not just be intended at obtaining knowledge about it. In fact, he/she will probably be looking forward to apply for the services.
Inbound marketing consists of buyer’s journey in three phases:
Awareness stage: At this stage, consumer looks for a solution for his/her problem by conducting search on internet.
Consideration stage : As a part of this step, customer is already aware about the possible solutions after undergoing the research.
Decision Making stage : In this phase, he/she shortlists the best product among various options available on internet. This helps him/her to choose the best product or avail the relevant service.
Obviously, inbound marketing has a few advantages as compared to outbound marketing. With over 50% lesser cost, inbound marketing serves the purpose of customers. Content has made its niche in the market to promote the business effectively over the years. Besides, ”SEO” is still an essential process in the market till date, but, at the end it should suit your company rightly. There are even some companies which are performing fairly by using outbound presently. In short, it is important to conduct a quick research and carry out a discussion with your team to choose the suitable form of marketing out of the two.