Inbound Marketing or Traditional Marketing: What’s Better for Your Business?
If you’re a business owner or a marketer, you’ve probably heard of the terms “Outbound Marketing” and “Inbound Marketing”. Let’s face it, gone are those days when consumers had to rely on billboards, TV commercials, magazines or newspaper ads to learn about new brands and products. These old-school marketing techniques are no longer effective as they once were.
Today, people no longer want junk emails from brands they don’t recognize. According to statistics, 86 percent of people skip television ads and 44 percent of all mail recipients throw away their “junk mail” without even reading it.
With the constant advancements in technology and the internet, traditional marketing is fading away rapidly and is being taken over by Inbound Marketing. Statistics depict that inbound strategies generate 54 percent more leads than traditional paid techniques.
Although Inbound Marketing has proven to be more effective and a better investment than traditional marketing, business owners often have a hard time switching to it.
Since its inception around a decade ago, Inbound Marketing has created a heated debate in the marketing world, i.e. Inbound Marketing versus Traditional Outbound Marketing; which one is better? So, let’s dive into this hot topic and find out what’s best for your business.
What is Inbound Marketing?
Here’s how you define it: Inbound Marketing focuses on earning a person’s attention, rather than buying it. It is usually done through social media and appealing content such as blog posts, Whitepapers, podcasts, social media posts, eBooks, case studies, etc. By producing quality content (based on customers’ interests, goals, challenges, and questions), you can certainly attract inbound traffic, which you can further convert, close, and delight over time.
The Inbound Marketing process involves 4 key stages:
1. Attract: Being clear about your target audience and their interests is the prerequisite to get quality traffic to your website. Always remember that buyers won’t buy like they used to do a decade ago. Today, they come to you with a very good understanding of what you do and how you do it. They won’t buy anything unless they perceive a need. So, it is necessary that you come up with a content marketing strategy that resonates with them by solving their problems. Some of the common yet effective ways to allure the right visitors include Social Media Marketing, Blogging, Video Marketing, and Optimized Webpage Content.
2. Convert: Once you’ve attracted your prospects, the next step is to convert them into leads, which can only be done by asking them to provide their information (name, email, phone number) in return for something valuable to them, such as eBooks, Whitepapers, a webinar invitation, infographics, or check sheets. Some of the useful tools that are used to convert visitors to leads include Forms, Landing Pages, CRM, Call-to-action, etc.
3. Close: You’re on the right track. You’ve attracted the right visitors and converted the right leads. Now comes the turn of transforming those leads into customers, which is simply done by a process called “lead nurturing”. In this process, a lead is further engaged by the content and becomes a customer. But how you can most effectively accomplish this feat? Well, you can simply do so using effective inbound marketing tools such as Email Campaigns, CRM, Workflows, Lead Scoring, etc.
4. Delight: Customers who have been delighted by your informative and engaging content goes on to become a promoter of your brand or service, helping you bring in more business. Inbound Marketing is all about providing remarkable content to all users, whether they be prospects, leads, or existing customers. Just because someone has already purchased your product or service doesn’t mean you can forget about them! Here are some useful inbound marketing tools that you can use to delight your customers: Surveys, Smart Call-to-actions, smart Text Emails, Social Monitoring, and other Smart Content.
How Inbound Marketing Differs from Traditional Marketing?
Where traditional marketing focuses on pushing products or services on customers through print ads, TV commercials, trade shows, billboards, and banner advertising, Inbound Marketing is completely different. It works by creating informative content that potential leads actually want to see, and then turning those leads into satisfied customers. Unlike Traditional Marketing, Inbound Marketing focuses on getting found by customers. Where inbound marketers “earn their way in”, traditional marketers have to “buy, bug, or even beg to do so”.
The differences between both these marketing strategies are quite numerous, and it can even end up costing you a lot of money if you don’t understand which strategy will work best for your business. So, let’s discuss the differences in detail, keeping in mind two key aspects of marketing strategies, i.e. Distribution and Message.
If you aren’t convinced yet, here are some statistics to prove that Inbound Marketing actually works:
The companies that regularly publish blogs generate 126 percent more leads than those which do not.
70 percent of consumers prefer getting to know a company via content instead of ads.
Social media has 100 percent higher lead-to-close rate than Traditional Marketing.
Inbound Marketing costs 62 percent less per lead as compared to Traditional Marketing.
The average click-through rate of display ads is 0.1 percent.
As the experts and practitioners of Inbound Marketing, we at ArrowBits have an obvious preference for inbound, and we also recognize that Traditional Marketing still serves an important role in marketing. Our Inbound Marketing services include SEO, Paid Advertising, Lead Nurturing, and other Digital Marketing solutions. By customizing your Inbound Marketing strategy, we can help you attract more prospects to your business.