Marketing these days are so much more different than it was before. For example, in the past, getting customers is a lot more straightforward. If you wanted to get a lot of new customers, you have to pay to advertise your product or service in newspapers, TV, local displays, etc.
Of course, marketing now still needs financial investment. However, it has now also become more complex. For example, we now have more types of media you can use to reach and connect to prospects.
That is why, to attract customers now, you have to work smart, innovate, and be creative.
In reaching possible customers these days, marketing experts make use of two popular strategies. Inbound and outbound strategies.
Read on to find out the differences between the two.
Outbound marketing is a more traditional type of marketing. Wherein the business or a marketer pushes messages to a big audience. For example, television advertisements, cold calling, email blasts, etc.
Since you are targeting more people, there’s this hope that there are greater chances of getting at least some customers to buy your products and services.
However, according to Hubspot, outbound marketing is more expensive than inbound marketing. Also, its ROI is lower than it.
According to Weidert, an average person these days is exposed to around 60,000 to 10,000 advertising messages daily.
Those advertisements include TV ads, local signages, digital ads inside and outside social media.
For a consumer, it can get overwhelming.
Whereas in outbound marketing, you try to reach as many people as you can to learn about your product, inbound marketing is more magnetic.
It allows you to attract your best prospects or the ones who are already looking for you, and you just need to guide them towards your business.
Moreover, according to Hubspot, inbound marketing costs 61% less than outbound.