Consumer behavior has changed how companies market their products to their customers. This is because the consumer is no longer a passive participant in the product or service they choose to purchase. This behavioral change has made outbound marketing or traditional marketing efforts ineffective especially with the younger generation. Inbound marketing addresses the consumer by creating a two way interaction between both parties making the customer find you through searches with information you provide about your product or service.
Outbound Marketing
The reason outbound marketing is becoming outdated is it is seen as an intrusion interrupting people with their daily activities. TV commercials, telemarketing, billboards, emails and other forms of advertising are seen as outbound marketing. This method involves sending your message to a broad audience in massive numbers hoping the law of averages falls on your side which result in very expensive marketing campaigns. Some examples of the behavioral change in the consumer is the 200 million Americans who have chosen to register with the FTCs “Do Not Call List”, the 86% of people who skip television ads and the record number of people who are not using email. Although it is being tuned out it serves a purpose by getting the initial attention of the consumer.
Impact of Inbound Marketing Strategy
Inbound marketing saves you up to 62% per lead when you compare it to outbound marketing generating 55% higher lead conversion rates. It focuses your product and service directly to your audience. It is highly targeted because it goes after consumers who are interested in what you are offering allowing them to find you when they need information about your product or they are ready to buy. Companies who use inbound marketing techniques such as updated blogs have 55% more visitors to their site and 57% of the companies that have a corporate blog report find new customers because of the blog.
Process of Inbound Marketing
The most important tool of inbound marketing is the content you produce about your product or service. It has to be fresh, relevant and authoritative content using:
- Blogging
- Podcasting
- Videos
- Press releases
- eBooks
- Webinars
- Whitepapers
- FAQs
Once you create the content it has to be distributed online through your blogs and social media to increase your presence. This type of marketing demands new content all the time, the more you publish the easier it will be for your consumers to find you. You have to be an authority on your subject so consumers and other websites will recognize you as a trustworthy source.
Communication
Outbound marketing uses one way communication to achieve its goal, limiting what it can state about the product in question. With inbound marketing the consumer can choose different resources to access information about the product. This becomes more significant when you consider everyone processes information differently. Giving your consumer information in different mediums allows him or her to digest the information at their own leisure and reach to a well informed decision about your product. A well informed customer base generally stays longer with a product and become repeat customers.
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