Over the years, digital marketing has become steadily more crucial in building customer relationships and generating revenues for businesses. Even prior to the global COVID-19 pandemic, client targeting and lead generation were frequently based on virtual person interactions, and the pandemic only accelerated digital adoption more significantly.
As more companies competed online to attract potential clients, newer marketing strategies also began to develop. It not only made customers grow increasingly comfortable in leveraging remote channels to discuss ideas but also made it significantly easier for businesses to enhance their revenue opportunities.
Inbound or Outbound Marketing for Businesses
As we mentioned above, keep in mind that more businesses have started to abandon the traditional approach and leverage the newer trend which is digital marketing. Confused about why we are talking about digital marketing here? Well, then let’s come back to the topic of inbound and outbound marketing. Once you get an idea about these marketing strategies, you will understand the importance of digital marketing and website development in Toronto.
The most prominent difference between inbound and outbound marketing is the process that ad agencies implement to attract potential customers to a brand, product, or service.
With outbound marketing, the business always makes the first move. This means that they reach out to potential customers trying to capture their attention. It includes TV ads, print advertisements, and cold calling. In other words, it can be considered a traditional marketing strategy. With these tactics, you will have to create something extraordinary that captures your audience’s attention and takes their focus away from other activities and on to what you are trying to convey. Also, another challenge with outbound marketing is that there is no way to identify if the customers are interested in what you are saying or not because most of the conveying is done through TV adverts or print.
On the other hand, by leveraging inbound marketing, your leads can actually reach out to you with their requirements or pain points and you get to take on the conversation from there. Therefore, rather than forcing unsolicited content to a bulk audience, you’re presenting them with content that they are actually looking for and most importantly on the platforms of their choice.
By implementing this process, a business can post attractive social media content or even appealing articles or website blogs that a potential lead may stumble on Google. This post or article might answer or provide ways in which customers can overcome their challenges with the business’s product or services, hence they’re pulled into the sales funnel in a more natural way and are open to buying.
Several digital marketing agencies rely on such inbound marketing plans which include everything from search engine optimization (SEO), content marketing, and social media to attract new leads.
So now you know why we introduced digital marketing as well. Because most of the inbound strategies come under digital marketing and in this advanced era when it comes to generating leads, winning customers, and closing sales, going digital is the right choice.
Why Is Inbound Marketing the Best Choice for Businesses?
1. It is less expensive
Yes, when compared to the traditional outbound marketing methods, inbound marketing is very much less expensive. With inbound, businesses do not have to print bulk advertisements or buy a TV, or magazine space for their advertisements. Conversely, they can do it for free by posting well-designed attractive content on social media which makes it extremely affordable and also quite easy to implement.
Of course, not everything on social media is free, businesses can also run paid advertisements and social media campaigns that can reach out to millions of people, but when compared to the cost of TV ads, social media campaigns are significantly less. Moreover, digital ads or social media ads provide insights into the ad results and let the business monitor how efficiently the ad worked. Therefore, based on this data, businesses can create new ads or identify the type of content that keeps their audiences engaged.
2. You can target your audience
There is no doubt that all of us have come across TV ads that are not relevant to us. Businesses that utilize such outbound marketing strategies focus on putting their products out there and telling people why they should be interested in the product or service. With outbound marketing, there is no way that businesses can target only their target audiences who will actually be interested in their offer. Whereas with inbound marketing, a company can actually target its audiences precisely based on preferences, location, age, or even gender.
It also draws such targeted audiences towards your offering and helps in beginning a conversation with them. They can actually comment on your posts, social media advertisements, PPC ads, and blogs to learn more about your product or service. This direct interaction with customers creates more personalization and would more likely play a pivotal role in making them your long-term customers.
3. Cover the entire sales funnel
By using the outbound strategies, businesses can only focus on branding and cannot meet customers across the other layers of a sales funnel. But by focusing on inbound marketing, digital marketers can create unique content for every phase that the buyer goes through; starting from researching about a product to buying the product. Businesses can also analyze the research phase and identify the data of people that are actually interested in the product. They can then focus on ads and PPC to reach out to these people and convert them into actual customers.
With the right marketing strategy, compelling customer engagement techniques, and excellent operational execution, several businesses were able to tremendously convert more leads and drive customers’ value.
Inbound marketing can help you achieve your marketing and sales objectives by connecting you with the right audience at the right time. In this competitive atmosphere, the best way for a business to overcome competition and meet customer demands is by hiring a digital marketing agency to run inbound marketing strategies that can enhance the business’s performance in the long run.
Cindy Williams is a blogger in Canada. She is working as an outreach coordinator for Web Sharx, a company offering web design in Toronto. She graduated with honors from the University of British Columbia with a dual degree in Business Administration and Creative Writing.