A traditional example of this would be television, radio, newspaper and magazine ads. As is obvious you could not target a specific niche market with those. It’s more like casting a huge net and hoping that some fish would be caught in it. As a result the conversion percentage of such broad marketing methods might be less, however as the goal is to maximise reach there is no need to put the concentrated effort that is essential to more cerebral ways of doing marketing.
A great benefit of outbound marketing is the familiarity that a consumer base will have with it. Consumers are very familiar with the traditional methods of advertisement that are mentioned above. Many times consumers even look forward to age-old sources like newspapers to find ads that are promoting a special offer or giving discount coupons. Outbound marketing puts your product or service in front of a large number of eyes and its chances of generating new customers & as a result more sales, are much higher than targeted methods of marketing.
Contrary to the methodologies of outbound marketing is the concept of inbound marketing where consumers find your business instead of you having to go out and fish for them. A way to do this could be to make sure that your website is ranking high in the Google search engine results page for your particular niche. This allows the consumer to quickly find you and what you have to offer. This can also be done by sharing quality content on your website and social media. As new consumers browse upon your content and find it interesting, they will visit your website and explore the different products and services.
There has been plenty of debate about which methodology of marketing is more efficient, especially in these times where online presence contributes massively to a business. The adoption of a correct approach is highly crucial. At the same time, if you pose this question to an experienced marketer, then they will tell you that the best thing to do is to adopt a balanced approach of both the methodologies. The amount of time and resources you allocate to each depends upon your goals and your targeted market. For instance if your product caters to senior citizens then you’d be better off advertising on TV, radio or newspapers as an elderly person is unlikely to spend a lot of time on the social media or on the Internet in general.
To get the best results, you must combine the inbound and outbound marketing strategies and that will help you not just in attracting new customers but also maintaining a healthy relationship with the current ones.