Leads are what drive any B2B business. For the business to be successful, the leads have to be converted into customers. As a marketer, you can reach out to potential customers and inform them about your brand and your offerings. In the second case, you create hype around your brand so that potential customers come to you.
In marketing terminology, the former is called outbound marketing, and the latter is called inbound marketing.
Outbound vs. inbound marketing: process
The sales process in outbound marketing consists of the following five steps:
- Identify the target audience and segment based on your business goals.
- Obtain permission to collect information from the interested audience.
- Pick a team to contact the audience. If the accounts do not fit your product/service or deny your offer, remove them from the database.
- Schedule a meeting so that the prospect has a better understanding of your product/service.
- Close the deal with the customer.
The sales process in inbound marketing consists of the following five steps:
- Conduct activities so that your target audience base becomes aware of your brand.
- Take permission to collect the interested audience’s information.
- Generate awareness of your products/services.
- Build a rapport with the prospects to understand if they are a fit for your products/services.
- Offer advice on how you can provide a solution to their problems.
Outbound vs. inbound marketing: common techniques
For outbound marketing, common ways to get in touch are cold calling, cold emailing, in-person events, event sponsorship, and advertisements on traditional media channels.
For outbound marketing, you can reach your audience through gated content, blogs, SEO, social media marketing, online events, and your presence on digital media.
Outbound vs. inbound marketing: benefits
The pros of outbound marketing are:
- It can reach a larger audience in one go.
- It will have more control over how your prospect perceives you.
- It can outperform your competitors in terms of lead generation.
The advantages of inbound marketing are:
- It can outlast other approaches.
- It gives a personal touch to prospects.
- It enforces the brand’s expertise from the get-go.
- It is cost-effective since your activities are for your entire audience.
Outbound vs. inbound marketing: challenges
The cons of outbound marketing are:
- It can become costly since not all people who are contacted will respond positively.
- Prospects frequently perceive it as a disruption.
- Prospect has limited ways to reach out to you.
The disadvantages of inbound marketing are:
- It can be labour-intensive since prospects take their time to reach you.
- It needs a sales expert to handle pitching.
It is difficult to stand out as your competitors are using similar methods.
Despite the vast differences between outbound and inbound marketing techniques, a combination of both can be beneficial for your business. Say you have been actively investing in SEO and social media marketing (inbound marketing). Your target audience is now aware of your brand, and they share their details for an exclusive whitepaper (gated content). You can now follow up with the prospects who have downloaded the whitepaper to inform them of your product or service (outbound marketing).
Make the most out of your business by using both marketing strategies in tandem. At Resolute B2B, we believe in using outbound and inbound strategies to help you fulfil your business goals.