If you are a marketer, an MBA student, or a businessperson, then you probably have heard the two words “inbound and outbound marketing”.
Nowadays, outbound marketing is not considered as effective as inbound marketing. Technology has undergone a massive change causing the strategies of outbound marketing, such as promoting products or services on either radio, television, newspapers not as effective as digital marketing and Social Media. This, of course, depends on your industry and target market.
Before we tell you the difference in both of these terms, let’s take a look at what these are;
Outbound marketing is a form of traditional advertising, which is used to target a massive number of audiences through radio, television, newspapers, magazines, etc. It can be quite more expensive compared to inbound marketing.
Inbound marketing is the complete opposite of outbound marketing. It is less expensive compared to outbound marketing and helps to promote goods and services through platforms such as social media, websites, blog posts, etc. The basic purpose of inbound marketing is to promote sales by providing solutions to people whenever they are seeking them online.
What’s the Difference?
The difference between inbound and outbound marketing is that inbound marketing is used to generate sales for new products or services. It is used to capture an audience through the promotion of their business for a longer period of time whereas outbound marketing is used to capture a massive number of audiences at once, and to expand the sales of either new or existing products or services within the specific business cycle.
Which strategy should you use?
As per the requirements for a business, a person should go for both of the tactics to launch their sales. Big companies such as Loreal, Nestle, Pepsi, etc. are using both inbound and outbound strategies to promote their products.
While you might be confused about how to use both of the strategies together, here are a few suggestions you might want to follow;
If you are running a new business, then it is best to start a new business with low investment and therefore, use inbound marketing.
Try to be patient and wait for your marketing to show results as inbound marketing is not usually an instant win.
When you believe the business has the right budget, try to use outbound marketing to attract an audience on a larger scale at once using TV, magazines, newspapers, etc.
Once your business is strongly established, try to focus on using both of these strategies together so that your business can reach greater audiences.
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