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7 Reasons Why Inbound Marketing is Better than Outbound

BizcaBOOM — Wed, 03 Mar 2021 16:47:41 +0000

5 Reasons Why Inbound Marketing is Better Than Outbound

There is a war happening right now, it is a world war, it is one of the toughest and most fierce wars ever fought on this planet. Can you guess what it is? You probably guessed it, inbound marketing vs. outbound marketing.

Most successful companies have a mix between the two, some hire sales professionals to do outbound marketing and others hire a marketing team to do the inbound marketing, but what if I were to tell you that you can take your company to new levels of revenue that you have never thought of making by simply spending most of your time and your employees’ time doing inbound marketing?

Many myths that come up about inbound marketing is that it takes a lot of time, it takes a lot of work, it’s too complicated, it can’t be measured, it’s not as good as ads, BS, BS, BS! I’m here to tell you that those are just lies and misconceptions. According to a study by Invesp, inbound marketing is 10X more effective in generating sales than outbound marketing!

Let’s say you’re making $250,000 a year in your business with mainly outbound marketing, well according to studies made by the same study in this example, if you flip the tables and instead do mostly inbound marketing, you’re company could be making $2,500,000 a year (assuming you have a good sales system in place already) and that number would not be stopping!

Here are 7 reasons why inbound marketing is better than outbound marketing:

What is Inbound Marketing?

Inbound marketing is a type of marketing that involves no outreach, but instead gets customers to come to you through blog content on Google & Bing, videos, social media, events, etc. Inbound marketing is proven to be an effective method for getting new clients for your business.

In simple terms, you’re asking for the attention of your audience in an indirect way versus shoving a bunch of ads of your company into your audience’s face.

This is another reason why inbound marketing is better than outbound. With inbound marketing, you are building the customer relationship before they buy from you.

With outbound marketing strategies like billboard ads, you can pay a lot of money for it and sometimes it won’t work because it doesn’t exactly attract your ideal customers the same way inbound marketing can.

Inbound marketing allows you to begin the customer relationship before making a decision to purchase your product or service. Thus, it will make it easier for your business to gain more sales in the long run.

With all of that said now let’s get into what outbound marketing is:

What is Outbound Marketing?

Outbound marketing is one of the oldest tricks in the play book of marketing for gaining more customers. Some outbound marketing strategies include mail advertisements, cold calling, email marketing, radio ads, and billboards.

Outbound marketing can give you a significant amount of business in a short amount of time compared to inbound marketing. Outbound marketing can be done by almost anyone and can be a lifesaver at times of financial distress. If your business is in dire need of money, then outbound marketing is a great strategy to use.

However, it is not such a good strategy to use in the long run. In this article I’m going to explain to you why inbound marketing is better than outbound and why you should probably consider doing more inbound marketing and less outbound for your business.

Inbound Marketing is Hyper-Personalized

If you’re trying to rank your website on Google, being the most relevant Source can really help your website rank on the first page of Google but not only will help you with your SEO, it will help you to gain higher quality leads. With outbound marketing, it is more disruptive and broad, which doesn’t exactly get you to target specific people.

Inbound marketing is mainly driven by relationships and building them with future prospects through custom content (note that the content has to be specific to the type of audience you’re targeting). Most people nowadays love that and it’s very engaging and it’s super relevant versus getting bombarded with advertisements every 5 seconds.

2) Inbound Marketing is not Aggressive

Direct emails billboard such as the one above cold calling letters in the mail, etc. are the most common outbound marketing strategies and if you think about it, it’s kind of aggressive. It can give out sort of a bad vibe to people you were trying to target, but with inbound marketing you’re not exactly disrupting people’s daily life.

In fact, you are helping them, so why wouldn’t they have your attention if they learned something from a recent blog you posted?

Outbound marketing is all about pushing messages throughout different channels in the hopes that a potential customer will hear what you have to say and might consider going with you. Inbound marketing is not forceful at all but instead gains the interest of your audience who are looking to solve a specific problem.

3) Inbound Marketing Cost Less Than Outbound

Ever wonder what will happen to your business as soon as you turn off any ads? You might start to feel worry or doubt, but not with inbound marketing! Inbound marketing is a long-term approach to growing your business exponentially. Exponential growth does not happen overnight and this applies towards inbound marketing.

Once inbound marketing starts to really kick in, the cost per lead is going to go down significantly than outbound. If done correctly, you’re going to start attracting more higher quality prospects that are almost ready to buy from you.

According to HubSpot it is shown that inbound marketing costs per lead are 62% less than outbound marketing. Along with being more cost-effective, this also means that inbound marketing will bring you a more positive ROI (Return on Investment) than outbound.

4) Your Customers will Trust You More

The average closing ratio according to Prospect Experience for leads obtained from outbound marketing is about 4.2%. With leads obtained from inbound marketing, the average closing ratios are about 20%! That means for every 100 leads you get from inbound marketing you are likely to get 20 customers versus only 5 customers with outbound marketing.

These stats prove that people nowadays don’t like to be interrupted with pushy marketing tactics. Who likes to get bombarded with 10 email advertisements every week by the same company? Not me!

With interruptive tactics such as email blasts and cold calling, your customers could get angry and look down upon your brand (Not a good idea!). When you attract customers with inbound marketing, they already have extracted value from your company, therefore they are going to trust you more than anyone else.

5) Inbound Marketing Doesn't Stop

If you posted a helpful video a year ago, people are still going to be able to access it and still see the value of your company, versus an advertisement that you made a few months ago may not work as effectively now. You have to constantly refresh and refine your outbound marketing strategies in order for them to be somewhat effective.

In outbound marketing, you constantly need to reinvest again into advertising over and over again, whereas once you created great content, it’s done and ready to go. Content that you posted six months ago can still be very effective in attracting your business high quality leads. That is why when you focus your efforts on inbound marketing, your efforts can exponentially help you attract a lot of customers.

6) Inbound Marketing Isn't as Time Consuming

Traditional marketing tactics such as trade shows, ads, and mail require a lot of time, energy, and resources in order for it to work. With inbound marketing, you can easily automate the process and continue to grow.

You can take out your phone and record a certain product you are making or a helpful insight, this will surely start to gain the attention of your audience. No need to keep going back to an ad that you made last week and seeing which ad set works best in getting you leads.

7) One Flaw of Outbound Marketing

Did you know that the average person gets more than 5,000 advertisements everyday? That’s an insane number to think about! That number includes emails, billboards, mail, digital ads, etc. The graph below from Sales Artillery shows the effectiveness of newspaper ads (one type outbound marketing tactic) over time:

As you can see, the effectiveness of outbound marketing is slowly going down. People are tired of getting annoyed with ads and because of this, we tend to ignore these ads without thinking about it. The reason outbound marketing is not a good strategy to use anymore is because it doesn’t provide people any value anymore, even with all the data that some companies such Facebook has on their users, people are most likely going to ignore them.

A common question that we ask ourselves when reading an ad is “What’s in it for me?”, and if it’s something that you’re not actively interested in, you’ll probably ignore it.

Now that you have learned the 5 reasons why inbound marketing is better than outbound marketing, why not share this post with your friends?

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INSIDER Tips For Your Startup Marketing Strategy

BizcaBOOM — Fri, 12 Feb 2021 00:50:04 +0000

INSIDER Tips for Your Startup Marketing Strategy | BizcaBOOM

Starting a new business can be quite challenging in the beginning stages. If you’re starting a new business, having a solid startup marketing strategy is arguably is the most important thing you should do, BUT it is often the most overlooked. Why is this?

Well today I am going to give INSIDER tips for your startup marketing strategy. To start off this article, think about this for a moment:

How can my startup acquire new customers?

This is the question you should be asking yourself and your team whenever you are formulating your new business and startup marketing strategy. Figure out what is your ideal customer and where do they hang out most of the time. Do they usually stay on Facebook? Are they on a particular website most of the time? Where are they located at?

These are just some ideas to consider when crafting a successful startup marketing strategy.

While there are no one-size fits all solution to your startup marketing, there are many ways to promote your startup online.

Let’s get started with the foundation or the basics:

Your Product/Service Should Be in the Strategy

Before you get all pumped with trying to market and sell your product/service as fast as possible, let’s SLOW down for a second.

Your product/service should be the #1 focus in the beginning stages, not marketing. You wouldn’t want to start pushing out and selling your product/service if you haven’t really made it extremely valuable. A product/service that has problems right from the beginning and severely damage your reputation in the long run and can be expensive to repair if you start rolling out a bad product/service.

When you have product/service that is phenomenal and is just so much better than anybody else has ever seen, your customers will be the ones marketing your product/service, not you, so in that case you may not even have to do a lot of marketing, because your customers are doing it for you!

This type of marketing is also known as viral marketing. In viral marketing, essentially your customers will be the ones sharing your product/service on social media and they will be the ones to promote your startup. Not only is this a smart tactic to implement in your startup marketing strategy, but it can drastically increase your startup’s reputation.

Forming a Marketing Plan is Not What You May Think

Once you are deciding to market your product/service and start selling it, first think to yourself, is this something people will be willing to buy? When I mean people, I also don’t just mean anybody, but your target audience. Would your target audience be willing to buy your product/service?

If you have to really think about this question for a while or if it’s a straight up no, then it’s time to go back to the drawing board.

As you start to refine your product/service overtime, your startup marketing strategy should include the benefits of your product/service and how it improves people’s lives (your target audience).

Implement One of The BEST Marketing Strategies:

The internet is expanding more and more. According to letter.ly, about 4 million blog posts are made EVERY DAY. This is a big number and it’s only going to get bigger, so why not participate in this opportunity?

There are many opportunities your startup can partake in when you start to make content whether if it is an update on your latest product, a how-to video, a checklist, etc., content marketing should be a staple in your startup marketing strategy.

Content marketing works like this:

You create content that your target audience is interested in
Your target audience see the content you post
Some people in your target audience find value in the content you produce and want to know more about your company
A small percentage of your target audience may want to do business with you in the future
After posting good quality content on a regular basis, you start to build a following and you may even get more customers!

There are many types of content marketing that you do such as:

Blog articles (helps with SEO as well)
Videos
Social Media Posts
Interviews
Podcasts
E-Book

One very effective content marketing strategy that you can implement right now as part of your startup marketing strategy is by creating blog articles on your website.

Blog articles can help your website rank on Google and other search engines. This is a relatively easy and effective SEO strategy to help you get website visitors in the beginning stages of your startup.

Creating blog articles on your website also showcases your knowledge and can provide you a great opportunity to solve the problems your target audience is having.

Another benefit of creating blog articles and why you should implement it into your startup marketing strategy is the credibility and reputation boost it can bring to your startup, something that is hard to do when building a startup.

Measure, Analyze, Improve

When marketing your startup, one of the best ways to improve your startup and make more sales is by using this simple strategy:

Measure, Analyze, Improve

But what do you measure? First, you need a KPI (also known as a Key Performance Indicator). For example, in most companies, a major KPI is monthly sales. How many sales did you make this month? Is it lower than usual? What caused the decrease in sales this month?

For example, if you are getting leads from a particular source, you want to measure it. Are they good leads? How much revenue did your company make from this one lead source? How is the source generating your company leads? What can we improve?

As soon as you are able to measure what you are doing for your startup marketing strategy, you can then analyze your efforts and improve from there.

Get a Professional Marketing Team to Give You Insight

While you might have a good understanding of how to formulate a successful startup marketing plan, it’s probably unlikely that your skills and insights aren’t even close to that of a marketing professional or agency.

If your startup has already made a valuable product/service and you’re looking to grow at an exponential rate, hiring a professional digital marketing agency to help you craft a highly successful startup marketing plan would be the best direction to go.

When crafting a marketing plan for your startup, just know that not every aspect of the plan has to be set in stone as most startups change in direction very fast in the beginning stages.

I would recommend to first create a product or service that is valuable to your target consumer and then plan your startup marketing plan accordingly.

Now that you have learned the insider tips for your startup marketing strategy, why not share this post with your friends?

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