First of all, what IS inbound and outbound marketing?
Inbound and Outbound marketing is geared towards pushing out your message as widely as possible (i.e “outbound”.)
Outbound marketing is ideal for campaign launches, selling products with a deadline.
(Best ROI to get your money back from advertising quickly) .
Outbound marketing usually uses traditional media such as TV advertising, outdoor, print and online media and things like third-party promotions and PR. It’s the type of marketing you might often associate with B2C businesses such as consumer-packaged goods, retail, auto, etc. The purpose of this marketing is to spread a message QUICKLY. I remember that annoying mantra that my grandfather preached, “Time = Money.” Usually to promoting something quickly and effectively requires money to advertise, so most outbound marketing requires a bigger budget than inbound marketing. Outbound marketing is good if you know you are going to get a high ROI, like campaign launches, online courses with a time limit. Onbound marketing is NOT great for building your brand which requires a lot of time for design, style guides, marketing, etc. Building a brand is great for Inbound marketing where you can leverage your time because there is less of a budget at stake. I’m currently working on doing lead generation for malpractice lawsuits and Outbound marketing is perfect for this because these people aren’t going to come back with the same injuries (hopefully) , they could care less how pretty the logo is, and these cases have a small window of time for compensation. These three things are the perfect recipe for outbound marketing.
Inbound marketing is best for startups with a small budget, building a brand, entrepreneurs, and bloggers.
Inbound marketing = draw people to your company/service (i.e”inbound”). The key objective in this marketing is to gain long term customers that are loyal to your brand by developing credibility.Inbound techniques include blogging, social media, industry insights and best practices.Inbound can be highly effective because targets are typically deeper into the buying process, and closer to making a purchase.
This is not an overnight process. A startup has less of budget inbound marketing will work best. To quote Jeff Bezos from Amazon: “Advertising is the price you pay for being unremarkable”, and startups are usually remarkable. Yours is too. Find our what makes you different from the rest of your competition and emphasize that in all of your content marketing.
If you are a startup, ideally, you want to have a balance of the two. Facebook ads are great for controlling your own budget and time frame of the ad, while also finding out who your target customer is. You can set up a small budget for a week or a minimum of $15 a day and if done successfully, you can get a high ROI and discover more about your target market.
Let me know how you do!