The Difference Between Inbound and Outbound Marketing

The Difference Between Inbound and Outbound Marketing

If you’ve turned your attention towards marketing your financial services business, then it’s likely that you’ve heard of a few different approaches to marketing – namely inbound marketing and outbound marketing. In this article, we’ll take a look at the difference between inbound and outbound marketing and provide some examples so you know exactly which approach you should adopt for your business.

What Is Inbound Marketing?

Inbound marketing is where you attract people to your business through valuable content, usually delivered by your website or blog. When these people find your content, they find it useful so they begin to engage with your business with the expectation that you will be providing further value.

What Is An Example Of Inbound Marketing?

There are many examples of inbound marketing and these quite often work together to engage the traffic that is attracted to your site.

Examples of inbound marketing include:

    • Blogs
    • eBooks
    • Videos
    • SEO
    • Case Studies
    • Ultimate Guides
    • Infographics
    • Webinars

Let’s consider a case study of how these can work together. One day, the perfect prospect for your business is googling a keyword or phrase associated with the problems that your business solves. Since you’ve invested in SEO (search engine optimisation), a blog article that you’ve written shows up amongst the top results on Google. Your perfect prospect clicks on your link and lands on your blog article. They read your blog and love it! Your perfect prospect notices a downloadable eBook that expands upon the subject, so they leave their details in order to receive the eBook. Again, they love it! So much so that they reach out to you and engage your business to help them solve their problem.

That’s inbound in action.

What Is Outbound Marketing?

Outbound marketing is where a business initiates the conversation with the prospect. Usually, it involves “pushing” your message in front of your target audience and vying for their attention.

What Is An Example Of Outbound Marketing?

Typical outbound marketing strategies include:

    • Cold calling
    • Direct mail
    • TV ads
    • Radio ads
    • Print/newspaper ads
    • Email marketing
    • Trade shows
    • Press releases
    • Email marketing

Which should you use? Inbound or outbound marketing?

Why not use both? You can utilise inbound marketing to attract prospects to your business and once they have engaged in some way, you can then use outbound techniques to strike up conversations. For example, a prospect leaves their email address in exchange for a valuable piece of downloadable content, however, the many distractions of life pull them away from your site and they forget about you for now… Well, you can reach back out through email marketing to remind them of the value you can provide and hopefully convert them into a paying customer!

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Inbound Marketing for Financial Planners
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Inbound Marketing for Financial Services