As a business owner, you want to spend your marketing budget in the place you’ll get the most bang for your buck.
The SBA has their thoughts on how much you should spend on marketing, but you’ve got to make your own decisions about where to spend and how much.
When you look at outbound marketing vs. inbound marketing, you can be sure that inbound marketing is going to win out in the long run and you’re going to spend less cash getting the audience that you want.
Outbound marketing usually broadcasts ads by marketing to the masses. Inbound marketing is surgical and targets people who are likely to be interested in the products and services that are offered.
A Look Into Inbound Marketing & Outbound Marketing
To fully understand which type of marketing is for you, you need to look into it a little further. While I am a fan of inbound marketing, maybe you like the outbound marketing approach better.
Outbound Marketing Examples
- TV/Radio Ads
- Telemarketing & Cold Calls
- Email Marketing
- Trade Shows
- Newspaper Ads
- Press Releases
Inbound Marketing Examples
- Social Media
- Blog Content
- Video Marketing
When you are choosing your marketing strategy, you need to figure out if you want to attract people to you or if you want to put yourself in people’s faces.
Inbound marketing allows you to be more of a welcome solution to people and can come in contact with people at any given time. You may find people at the beginning stages of the buying process and have to nurture them through the sales process.
On the other hand, you might find them near the end of the sales cycle where they are ready to purchase. This is why it is important to craft your nurturing process carefully.
With outbound marketing, you are blasting the masses in search of people that need your product right away. You aren’t likely to find a large percentage of these people, but you don’t need a lot of people to make money from this group if you know what you are doing.
Many people find it helpful to use inbound strategy and use outbound strategy to promote their business. Figuring out which one is best for you or if you want to do a mix of both inbound marketing and outbound marketing will allow you to get started on your marketing journey.
Marketing Your Product or Service
The best thing you can do to get your product or service out on the market is to continue to spread the word.
You have to get the word out about your product or service on a consistent basis. If you aren’t consistent, you are going to fall behind in your efforts and your competition is going to take the lead.
Having a plan in place or finding a company that will help you market your products and services is a great way to get started on the road to success.
Whether you are focusing on becoming an authority in your niche, creating passive income without caring about whether or not you create a name for your business or if you want to work on your email marketing strategy, you need to have a plan so you can be effective and start creating the results that you want.
Which strategy do you prefer? Inbound marketing or outbound marketing? Share in the comments.