These days marketing is typically divided into two arenas: inbound and outbound. Outbound is what generally comes to mind when you think of marketing. It’s what everyone has done to drive their business for the better part of forever. Inbound is a relatively new term that takes into account that buyers are more educated and less susceptible traditional advertising tactics.
What is outbound marketing?
- Interruption Based
- Attention Grabbing
- Non Permission Based Emails
- Renting (constantly need new ads and new campaigns)
- Exclusive (the more money you have the more powerful the platform for your message)
The idea behind outbound marketing is that you send your message to as many people as possible in the hopes that a few will hear it, read it, or see it and become customers. Imagine that guy on the street corner declaring through his megaphone that the world is ending. That’s outbound marketing. The majority of people walking by, being bombarded with his message are not interested. His goal however, is to get his message out to the largest number of people possible regardless of their interest.
What is inbound marketing?
- Informative Website
- Permission Based Emails
- Social Media
- Incentives (ebook)
- Content Ownership
Inbound marketing uses a more organic, holistic approach. The idea is that you draw people to your content by being a wealth of information and convert them into lasting customers. They naturally find you and realize you have what they need. It’s that whole if you build it they will come phenomena. The goal with inbound marketing is to only attract and educate your target audience, the people that are actually interested in buying your product or service. This time picture a guy relaxing on a boat with his fishing line cast in the water. He’s using the best bait and all he has to do is sit back, relax and wait for the fish to bite.
What’s best for your business?
Be sure to consider your business goals when deciding which marketing strategy is best for your business. Ask yourself the following questions?
- What kind of time and budget do you have to execute your marketing strategy?
- Who are you trying to reach?
- What is your main goal?
The bottom line
Marketing. It’s something every business owner knows they need. The question is, with the ever changing face of advertising and the internet at the tip of everyone’s fingers, what does that look like for your company? Regardless of your marketing approach, be sure to avoid inconsistencies in brand and message and avoid message centric thinking. Think outside the box rather than becoming a slave to what has worked in the past to avoid stagnant growth or being left behind completely.