We know that marketing is important for any business. And, the success of any business or product relies heavily upon how well it is marketed. The marketing scene has changed tremendously over the past few years and with the advancement in technology, new ways are introduced for better and effective marketing.
Do you recall the advertisements that you see in between your favorite TV programs or at the start of a movie in theaters? Do you remember driving past a huge hoarding or a billboard advertising a product on a busy road? Does your daily newspaper come along with a bunch of mailers and print ads promoting their products? This traditional kind of marketing is called as Outbound Marketing. It includes –
- Television advertising
- Radio advertising
- Print advertising
- Direct mail
- Outdoor advertising
Outbound Marketing advertises its products and services by offering the information to the masses even if they are not looking for it. They push the message to the people using mass media tools with a hope that interested people will respond to it. These strategies were effective in the past, but with so much competition, people no longer pay that kind of attention. Also, since it reaches the masses, the cost of advertising is quite high and has proven to be ineffective because not everyone will be interested in the marketed product. To summarize, Outbound Marketing reaches the people (the masses!) irrespective of their interest in the product or services offered.
Inbound Marketing, on the other hand, uses strategies, to pull audiences in by increasing the brand value of the product. This is the modern day advertising, which we commonly see these days on the Internet. Gone are the days when one would open the Yellow Pages to search for a product. All we do is, trust our friend Google. Also, almost all companies these days track user behavior and interest and target them with products after studying their online (network) activity. This kind of marketing is cost effective as the audience is narrowed down to a group of people who will be interested in the product. And, since it requires an online presence, the means to display the ads (or market them) is cheaper than the ones used in Outbound Marketing.
Inbound Marketing is the new face of marketing. It has proven to generate leads and drive sales to grow business than ever before. And, since it is less expensive than Outbound Marketing, it has decreased the amount of money you would need to spend on marketing. Inbound Marketing has been adopted and heavily used by all the companies now and if you have still not used it, it is time that you do to help your business flourish!