How Customer Retention Transforms Your Business
June 23, 2022 |
March 18, 2016
As businesses contemplate various marketing strategies, the discussion of inbound marketing and outbound marketing is a common topic. So, what’s the difference? Which one is better for your business? Let’s start by defining both and letting the statistics speak for themselves.
Inbound marketing simply put is pulling people to your business by sharing and creating interesting, relevant content online. There are four stages of inbound marketing: Attract, Convert, Close, and Delight. Each uses different channels and tools to move on to the next step. These tools are usually online such as social media, SEO, website pages, ebooks, blogs, landing pages, and more. The idea of inbound marketing is to attract visitors rather than push products and services to customers. Inbound is very targeted marketing that attracts qualified prospects. The more qualified your visitors are, the more likely they are to convert and close with your business.
On the other hand, outbound marketing pushes products and services onto customers. Some examples of outbound marketing tactics include cold calling, telemarketing, advertising, and trade shows. Outbound markets work to get information in front of as many people as they can in the hopes that their message resonates with at least a small percentage of people.
Outbound marketing is becoming less effective as time goes on. According to our friends at HubSpot, inbound campaigns achieve higher ROI than outbound. In fact, companies are three times as likely to see higher ROI on inbound marketing campaigns than outbound. Why? Because content that inbound marketers post gets shared, read, and used long after they are posted. The internet cycles the content, and marketers are getting a better bang for their efforts.
According to the State of Inbound 2016 Surveys, of the nearly 4,000 people surveyed, inbound had a 75% likelihood of being the marketing approach of choice, while outbound had only a 25% chance. Senior executives are favoring inbound marketing tactics over outbound. The growing popularity of this tactic is a true reflection of the success of businesses that employ it.
Inbound marketing is the future. At PHOS, we not only advocate inbound, but we also excel at it. So how can you get started on inbound marketing for your business? We recommend a few things:
You will see more leads than you ever expected. Contact PHOS today to get started on a catered inbound marketing strategy for your company!