Why is Inbound Marketing more cost-efficient than Outbound Marketing, and how does this difference explain inbound marketing's huge success over the last decade? Inbound Marketing vs Outbound Marketing is one of the most common questions nowadays, above you will find the answer in 11 simple facts.
Inbound Marketing vs Outbound Marketing
Inbound Marketing, also known as the New Marketing, is more focused on rendering your brand more appealing to customers than pushing or "peddling" your specific products onto customers. The difference is actually profound. Here's why:
1. Inbound marketing embraces new media
As an extremely cost-conscious form of Content Marketing, Inbound strategically uses blogs, search engine optimization, and social media marketing to make your company more attractive and visible to customers.
Couple that with the fact that Inbound Marketing produces 50% more leads than Outbound Marketing.
2. Why Inbound Marketing vs Outbound Marketing ? Inbound isn't stuck in the past
If Inbound Marketing is synonymously called New Marketing, then the obvious implication is that Outbound Marketing is old or somehow more obsolete. In fact, Outbound Marketing doesn't really get into social media, blogging, podcasts or newsletters… yet nowadays customers very much do, so make your own assumptions...
3. Promotes lead nurture and lead scoring
You shouldn't be thinking about Inbound Marketing vs Outbound Marketing, if you know that Outbound Marketing involves reaching out to customers essentially only when you have a product to sell (e.g., through TV, print and radio advertising) whereas Inbound Marketing maintains an ongoing dialog with customers and supports lead nurturing and lead scoring.
In fact, one of the major flaws of Outbound Marketing is that it provides significant barriers to track your return on investment, plus don't forget Inbound Marketing costs over 60% less per lead than Outbound Marketing.
4. Inbound Marketing allows for constant improvements
From the cost-conscious point of view, though, Outbound Marketing simply doesn't allow marketers the opportunity to constantly assess, and reevaluate the success of your marketing efforts.
With Outbound Marketing, the plan is basically to run a television ad and see what happens, which is hardly a recipe for success. Inbound Marketing, on the other hand, allows for ongoing changes and even real-time analysis in the form of Facebook Insights and Google Analytics.
5. More permission-based marketing
Another key advantage that Inbound Marketing has over the outdated forms of Outbound Marketing is the fundamental way that customers interact with your brand.
In Outbound Marketing you essentially scream down prospects with your message - figuratively speaking, of course - no matter whether customers want or need to hear that message; with Inbound Marketing, you're instead getting your prospects permission before preceding.
6. Increased ROI and conversions
This is why Inbound Marking has been calified as more permission-based: Inbound Marketing uses things like subscription based email marketing campaigns, blog subscriptions and likes on social media as a vote of approval from prospects to provide fresh content and upcoming promotions…all while offering better tracking and greater conversions.
7. Facilitates ongoing customer relationships
Inbound Marketing also gives marketers the opportunity to build relationships with prospects at various stages of the buying cycle.
With the help of community managers and social media managers tasked with getting the word out on social media as well as posting and answering questions on forums to drum up excitement and raise awareness, Inbound Marketing is much more about a back-and-forth exchange than Outbound Marketing's shouting-from-a-bullhorn approach.
8. Inbound Marketing's lower cost of entry
Inbound Marketing allows even very, very small companies to gain worldwide exposure and expand their brand's awareness in a relatively a short amount of time.
Contrast the fact that Inbound Marketing entails cost-conscious tactics like search engine optimization and Viral Marketing whereas Outbound Marketing involves higher costs, and lower yield forms of "spammy" advertising.
9. Generate better traffic and actionable leads
In addition to Inbound Marketing's ability to create more trust and stronger relationships with customers, it also generates high-quality traffic and actionable leads to your website.
In fact, companies with 50 to 100 Twitter followers have 100% more traffic than companies with 25 or fewer followers on Twitter.
10. Inbound Marketing features higher close rates
Search engine optimization has a closer rate than print advertising's - SEO comes in at a 14.6% close rate whereas Outbound Marketing demonstrates an embarrassing 1.7% close rate, on average.
Add this up to the fact that a prospects' eye glosses over television ads while most eventual sales start with at least some research from this customers through search engines. And we're talking about some serious ROI when going the Inbound route.
11. Combines sales and marketing processes
If you are still considering Inbound Marketing vs Outbound Marketing , you should know that Inbound also considerably improves your company's internal efficiency since it increasingly coalesces Sales and Marketing into one overarching process.
By coupling both sales and marketing processes, you end up with a far greater result, since your salespeople will provide your marketers insights necessary to craft targeted content and vice-versa.