There are two forms of marketing: inbound marketing and outbound marketing. Before we get into the specifics of the outbound-inbound distinctions, it's essential to understand what these two terms mean as a whole:
The most common question asked by the client or a lead is, "Should I be using inbound or outbound marketing strategies?" looking to expand their firm. The most common answer is "Definitely both" from the agencies they tend to depend on, post which they dig down to the roots of the pros and cons of both kinds of marketing approaches. One always focuses on creating eye-catching signs and networking with potential leads to develop a digital strategy.
Inbound marketing is the polar opposite of outbound marketing. HubSpot describes it as marketing that "brings potential leads" to you rather than your marketing efforts fighting for their attention.
Inbound marketing is the process of developing and disseminating content to the rest of the world. Inbound marketing draws qualified prospects to your organization and keeps them coming back for more by providing content especially tailored to their needs."
What is the definition of inbound marketing?
Inbound marketing is a method for recruiting new customers by generating exciting and relevant content that speaks to the interests and needs of the prospect. This strategy necessitates the use of only non-intrusive methods of acquiring new clients and full support for the prospect from the point of brand discovery to brand loyalty. Inbound marketing is an indirect form of marketing in which the first point of contact is made outside, from the client to the company.
Inbound marketing is gaining popularity because it attracts them to you rather than interrupting people with intrusive advertisements. Because consumers are actively looking for your material, inbound marketing is effective.
Here is how HubSpot defined the term "Inbound" - "Inbound marketing focuses on creating quality content that pulls people toward your company and product, where they naturally want to be. By aligning the content you publish with your customer's interests, you naturally attract inbound traffic that you can then convert, close, and delight over time."
The inbound approach tries to lure clients in with magnetic material they choose to consume, such as blogs, videos, podcasts, social media, and newsletters, by leveraging various forms of content. The People will come to trust the brand over time, which will lead them to service it.
Attract, convert, close, and delight are the four steps of the process, also known as the Flywheel model.
Attract - Visitors to read content
Attract is the initial stage of inbound marketing. The goal of this stage is to locate and attract your target audience.
- How do you assist folks in finding your website?
- Do you stuff your blog entries with a lot of relevant keywords?
- Do you employ hashtags specific to your audience?
Answering these questions and modifying your strategy can help you rank higher in Google searches and appear more prominently in the social media feeds of your target demographic.
Few actions items to attract leads/users at this stage are Blogging, social media marketing, SEO, SEM, Webinars, Videos, ebooks, podcasts, and many more.
Convert - Visitors into leads
We frequently think of converting users when we talk about marketing. After all, marketing's ultimate purpose is to "convert" new leads.
Inbound marketing can be used to convert leads in a variety of ways:
- Having forms to sign-up
- Having effectual calls to action (CTAs)
- Enticing people to register for your newsletter
For example, having a section on the homepage dedicated to running a campaign or having a drop-down allows them to frequently asked questions about the services offered. It notifies visitors about a campaign they're hosting and provides a button to register/sign up or key in the services they need.
This CTA may entice a casual viewer to sign up and be served by the agency.
Close/Nurture - leads to the client.
Converting a lead isn't always as simple as providing a sign-up form and hoping they sign your contract.
Using automation is one of the various strategies to enter the closing stage. Automated emails, for example, can push a busy lead to review and respond to earlier emails by reminding them of their forsaken discussions.
It also works where half of all forsaken emails are opened, and half of all links are clicked. These findings demonstrate how the "close" step of an inbound marketing strategy may be as vital as, if not more crucial than, the "open" stage. Close is a stage where your lead will convert into a client.
Delight/Loyalty - Client
The final part of the inbound marketing plan is the delight phase, in which you express gratitude to the client for their business.
Sending a thank-you note, tailored follow-up emails, client review and feedback, recommendation, and more activities could be included.
If you opt to have rating and feedback forms at this point, you will be able to gather helpful feedback and obtain insight into future prospective leads.
Advocate your existing client by sending exciting content, new calls to action, emails, and cross-selling.
Analysis - Good to have the option
If you don't plan to track and analyze the results, your inbound marketing approach is incomplete. You'll need to create the KPIs (key performance indicators), which are the most important measurements for determining whether your strategy is effective.
Periodic controls are also required to examine the findings and, if necessary, make adjustments to previously defined activities. Your inbound strategy will benefit from this.
Key benefits of Inbound Marketing
- Greater reliability and trustworthiness
You are more trustworthy than a hoarding yelling, "Buy this now!" when you allow clients to do their research and find you naturally.
Furthermore, approximately 3/4th of businesses perform online research before deciding on a service or a product.
Inbound marketing tactics such as providing helpful content and harnessing social proof can help to lessen the number of risks consumers associate with your brand.
- Possibility to grow and improve
Listening to leads conversations, comments, and feedback on social media can help you better understand how to improve your products and services.
- Reduced costs
Mass marketing is not only inefficient in this digital age, but it is also expensive and unsafe.
It's as if you've put all the rotten mangoes and the good ones together. Alternatively, you may search for a lump of coal in the dark and hope to find it within a given thought.
Your company can save money and have a better return on investment over time by using a leaner, more focused advertising budget for inbound marketing.
- Generating high-quality leads and traffic is not only about raising brand recognition through inbound marketing. It's all about bringing in good leads and traffic. You'll be able to attract leads who are more likely to be interested in your solutions if you use a more targeted and informed approach.
- Having a sustainable inbound marketing
Inbound campaigns do not expire, unlike outbound efforts, which are only active for the campaign period. Content, forms, and workflow/nurturing emails will always be available to anyone seeking information. However, the drawback is that sustainability is usually accomplished over time, and inbound marketing is no exception - it takes time to work. However, having marketing materials on hand for the foreseeable future is a significant plus for the business.
Sustainable marketing can be achieved through various methods, the most common of which is through search engines on the website.
- Good to have all in one platform
Most inbound platforms include built-in features for social media, email, CRM, and SEO, among other digital marketing operations. Hubspot would be an excellent platform. The term "platform" refers to how a next-level solution makes it simple for marketers to manage their clients, channels, and integrations while avoiding the technical issues caused by using multiple other systems and platforms.
Inbound Marketing conversion funnel (Funnel Model)
There are three ways to distinguish users in converting them into loyal clients. The conversion funnel is a crucial instrument for comprehending this procedure. It's a visual representation of the various stages of a visitor's journey. The funnel form is due to the diminishing quantity of users at each level.
TOFU (Top Of the Funnel)
In this phase, users have just realized they have a need they attempt to satisfy. Prospects under TOFU are more likely to end up at the Top of the Funnel. They're usually looking for solutions to their difficulties. As a result, we'll need material in this phase that caters to various user needs, such as ebooks, infographics, and tutorials. Display advertising, social media video campaigns, and native advertising are also options.
With 85% of your website visitors falling into this category, you must know who they are and what they're looking for. Concentrate on enticing them with keywords and blog articles relevant to them.
MOFU (Middle of the Funnel)
Following the initial study (TOFU), the user evaluates other solutions that might be able to meet their requirements. Here, content with more excellent specialties, such as discussing with subject matter expertise, extensive instructions, client rating/reviews, or service portfolio, is required.
At this stage of the funnels, these visitors are the ones we like to call "Potential leads," representing 10% of your overall website traffic. There are no mandatory options for a lead to close the deal at this level, and it might dig deeper in understanding the requirement and building confidence in them.
They're usually preoccupied with investigating their options and comparing them to those offered by competitors. Case studies, calculators, and blog content that connects answers to problems should all be used to convert them.
BOFU (Bottom Of the Funnel)
At this stage of the funnel, these visitors are the ones we like to call "conversion leads," representing 5% of your overall website traffic dropping into the bottom of the funnel. They've done their homework, are confident in their decision, and are ready to spend with confidence. The main focus is to encourage them that we can offer sample UI design, SEM, social ranking, and specialized services that can be attractive here.
In conclusion, as per HubSpot, both Funnel and Flywheel models are not the same. The funnel is obsessed with short-term linear throughput of the customers, whereas Flywheel is obsessed with the long term; each investment is the opportunity to think about how to build and maintain the momentum of your business, using those customers to drive future growth.
What is the definition of Outbound Marketing?
Outbound Marketing is also known as Traditional-Marketing. Outbound marketing is when a company contacts potential clients, also known as leads. Cold phoning, cold emailing, direct mail, billboards, event sponsorships, on-the-spot presentations, television, radio, print, online advertising, and in-person interaction are all examples of outbound marketing strategies. Following up and developing commercial connections with leads generated through these tactics has traditionally been the responsibility of a company's sales personnel. Outbound marketing introduces a margin of error into different marketing models.
It isn't easy to gauge performance with outbound marketing. We can inquire how our prospects learned of us, but the responses are generally unreliable. This strategy necessitates using only non-intrusive methods for acquiring new leads and full support for the prospect from the point of brand discovery until brand loyalty. Outbound marketing measurement is unreliable, resulting in a lack of outcomes.
Difference between Inbound Marketing and Outbound Marketing
The approach to the leads differs between inbound and outbound marketing tactics. They also provide mixed results. According to a Hubspot study, only 18% of marketers believe outbound marketing generates the most outstanding quality leads for sales. On the other side, 75% of inbound marketing businesses say their strategy is effective.
Attracting leads to you
Need to identify the leads and make an approach plan
Focuses on high-quality content on blogs, Ebooks, Downloadable content, video marketing, Newsletters, social media, and so on
Focuses on sales campaigns. For example, making cold calls, TV ads, Radio ads, disruptive advertisements, email marketing, direct mails, networking, and trade shows.
Take very minimal time for marketing.
It takes more time to perform the activity.
Builds long-term relationships through increasing brand awareness.
More attention is paid to converting new leads.
Reduces the amount of money spent on marketing.
For sales efforts, money is required.
According to most studies and marketing surveys, inbound marketing is the best approach to increase visitors and leads with a minimum investment of time and cost invested than outbound marketing, which leads to only 15% of the visitors.
What should we now do? Quickly follow and adapt the below points. Hurry up! What are you guys waiting for:
- You can develop your business like never before with an engaging email campaign and a high-converting website with good SEO and content-based.
- To entice leads/visitors, you must first comprehend their requirements, desires, and challenges. Create great content that draws people in like a magnet using that data.
- Leads to find you through search engines will need to use SEO best practices.
- Once you've attracted attention, use the best subject matter expert to take the lead by providing them the complete information and forecasting their results to turn visitors into leads.
- Examine your target audience and analytics to determine which strategy will be most effective for you.