Inbound vs. Outbound Marketing (and how they impact your sales funnel)
I think conceptually people understand the different between Inbound and Outbound marketing. But in today's digital age, things are starting to get a little blurry.
So, let's take a moment to clarify each of these options, as well as answer the questions: Can our business run on just one? If so, which one? And how can I plug these efforts into sales?
It's gonna be a gooder! Let's go!
Inbound Marketing - A Definition
To make sure we start off on the right foot, let's define Inbound Marketing so we're all on the same page. ChatGPT created a really great definition for us:
Inbound marketing focuses on attracting customers through relevant and helpful content and interactions that are aligned with their needs. It is customer-centric and aims to create value before extracting it.
Now, I feel like there's an article here in itself with how companies are now meeting ALL the requirements of the definition, but let's pull out a couple different important pieces here:
Relevant AND Helpful TO THE CUSTOMER
Content AND Interactions ALIGNED WITH NEEDS
It's a LONG term, permission-based strategy, focused OUTWARD on your customer base. Oh, and let's not forget the concept of creating value BEFORE extracting it. Can someone explain to me how a web form makes that possible?
Ok, before I head off into a rant, let's see how that differs from Outbound Marketing.
Outbound Marketing - A Definition
ChatGPT also created a convenient definition for this one:
Outbound marketing involves pushing messages out to a broad audience in an effort to spark interest in a product or service. It is often interruption-based and company-centric.
Can anyone see where normal company page LinkedIn content falls? 🤣
The focus here is more SHORT term, with a goal of creating interruption-based attention. Black Friday sales are a good example.
The Channel Game
Now, you might have noticed that I didn't mention any specifical channels in the definitions (which ChatGPT DID generate btw). And why is that?
Because far too often, people think the CHANNEL dictates the STRATEGY.
For example, ChatGPT said that social media falls into the Inbound category. But if you're just using your page to post sales, or event attendance, that falls squarely into the Outbound category.
The truth is, a channel can be used in MANY ways. And while SOME only support one of either Inbound or Outbound (for example, ads work best in an Outbound capacity), the foundational strategy is what makes them WORK in that capacity, or not.
An Inbound ONLY Focus
So, what does it look like to focus solely on Inbound?
Well, it looks like a LOT of waiting.
Since Inbound is a long game, and focuses around BUILDING and NURTURING, it's not very good at delivering immediate results. And sometimes, we NEED immediate results (from a business perspective).
But even assuming you DIDN'T need any immediate results, there is an inherent unpredictability with Inbound. You could have someone convert after JUST learning about your solution (because they've been looking for some time). Or, you could have someone convert after 8 years of deep nurturing. Personally, I've had both of those from Inbound efforts, and while both are good and valuable, again, the predictability is low.
So if we're hoping to have a consistent, TRACKABLE funnel, we need something more.
An Outbound ONLY Focus
Now, when it comes to a possible Outbound-only focus, the challenge is a little different. Since Outbound is, by nature, more interruption-based, we don't have to BUILD on anything. After all, you don't need to have a good relationship with a brand to buy something on sale or get something for free.
But herein lies the problem with ONLY Outbound.
People aren't building relationships with your brand.
And you become one of many transactions; that are easily replaceable by your competitors.
Now, it's possible you have enough clout with your product, your client experience or delivery that the relationship stickiness is being created elsewhere. But if you're selling a high-ticket product or service, people likely won't get to that point. After all, if we're going to pay any company a large sum of money, we HAVE to be able to trust them to some extent. And because Outbound is about YOU and not about your customer (or the magic WE that I like to talk about), how are you actually creating TRUST?
The truth is, you're NOT. But sometimes we just need that quick dollar.
I'll Have The Combo
Personally, I've never seen where ONE of these efforts work without the other. Which means, the magic we're looking for is actually in the mash-up. The combination of Inbound and Outbound efforts.
Which also means, we have at least ONE connection point we need to be concerned about.
So let's play a quick game with a very common combination of efforts for SaaS B2B companies:
Inbound Blog Posting
Outbound Digital Ads
So, the team is creating content for blogs that adds value to their customers (the value added is debatable, but let's assume readers actually consume it) and promoting their free trial with digital ads.
Anyone see the glaring missing piece here?
Predominantly, the two audiences for these tactics are NOT the same person. AND, there's actually no overarching strategy that connects the two.
The fact that your internal employees are liking your blog posts is irrelevant. We might as well assume that NO Inbound Marketing is being done. Which means, all the pressure is on the Outbound Digital Ads.
So you throw a lot of money at them to optimize their reach. And people are clicking on the ads, but aren't converting.
And WHY is that?
I mean if it's easy enough, and FREE enough, people will sign up for anything, right?
Obviously, not.
There's a piece in the relationship building process that's missing here. An actual Inbound component that people can experience that builds their trust in you.
And it doesn't matter how many times you change the graphics, or the landing page, the trust isn't there.
So what's missing?
A Magic Mash-Up
To make this work, we have to connect the dots.
Not just check the boxes...but REALLY connect the dots.
This is also where we actually PLUG our efforts into sales 😉
Let's use the same tactics to show how it CAN work, but in THIS scenario, we take the following steps:
We create a conversation series in our blog related to a central topic of conversation we have with current clients (by asking sales or customer success, or maybe even a client focus group, all of which CAN be free). Sales could even pen the articles if they're open to it!
Instead of targeting our ads on job title, we target based on Member Interests (that align with the conversation series).
We use our ads to invite people into the limited-time conversation series, leading them to the relevant blogs (now we have website data on them too).
We re-target additional ads to the people who have accepted the invitation (by clicking on one of the ads), AND...
Ask them what they think about the topic and whether or not they'd like to add their voice to the conversation. Prime time opportunity for someone to talk to a sales rep about a topic 1) they are interested in, 2) the sales rep is knowledgeable in, and 3) that relates to a problem your company solves💡
Same tactics.
VERY different outcome.
More Than The Sum Of Its Parts
Often, when it comes to marketing efforts, we get so distracted by the THING that we forget why we're doing it. We know we need Inbound and Outbound, so we do the things and check the box. And so long as we're staying on budget, no one really asks any questions.
But I don't believe in not asking questions.
I believe in OPTIMIZING.
Continually.
To stay on top of what combination works for your business today.
Because it WON'T be the same always.
But with this investment, you'll be able to stay on top of whatever changes hit your business, even if that's a global pandemic 😉
Key Takeaways
To see a successful funnel of business, both Inbound and Outbound marketing efforts need to be at play.
Channels aren't pre-connected to Inbound or Outbound; the underlying strategy is what connects them.
You can make pretty much any combination work...SO LONG AS the pieces of the puzzle are connected.
If you're a Marketing Team Member, and you think you could use some help connecting the dots, let's chat!
If you're a Marketing Consultant, and you just noticed you've been depending SOLELY on Inbound, you might want to check out the upcoming Social Selling & Influence: For Marketers Training Program, starting September 2024 💖
