What is the difference between inbound marketing and outbound marketing? Or look at it differently, is it better to build or buy an audience?
Paying to get in front of potential customers has an advantage. Media sponsorship. Advertisement. Buy a mailing list. It is direct and immediate. But this comes at a cost, literally and figuratively. The audience you’re trying to reach with external marketing isn’t looking for you. They didn’t choose to interact with your brand. They may not even be decision makers or influencers in the buying process. When all things considered, it’s hard to show where audience buying affects the bottom line.
Building an audience through inbound marketing is different. It is more profitable (inbound leads cost 61% less than external leads). It’s easier to measure results. And it pays dividends in the long run.
Audience building approach
Inbound marketing (or audience building) tactics fall into three main areas:
- Paid Search Marketing
- Opt in to email marketing
- Content Marketing
Let’s take each one in turn.
Paid Search Marketing
Paid search marketing can feel like it should be outward facing. But the difference is in the intention of the buyer. You’ll show ads on targeted keywords or phrases at different stages of the buyer’s journey. Paid search marketing also falls under the umbrella of SEO. This is a large and complex topic that requires more detail than this article allows. However, if you are interested, check out our in-depth guide on how to create a B2B SEO strategy to increase traffic and leads.
Opt-in Email Marketing
Opt-in email marketing is different from buying an email list for one important reason:
Warning. Potential customers who were on this list chose to stay there. They want to know more about your brand. More importantly, in the tumultuous world of post-GDPR marketing, this is a safer option. Sure, “legitimate interests” allow some unsolicited B2B marketing emails. But wouldn’t it be better to build a list of people who want to hear from you first?
Content marketing:
The focus of audience building
Content marketing is the most important. That’s your mainstay for building an audience. lead magnet. Landing pages. Video content. First research. Social Media Ambassador Programs and more. It’s important to broaden your approach because your target audience may be in many places. Not only that, but different groups of your target audience will want to interact with the content in different ways.
Therefore, content marketing is a big investment. And that’s not easy. It takes time and effort to create content that drives results (read:
attract and maintain attention). It is also an iterative process. You’ll need to learn what works best over time or work with a content marketer who can advise you on what will resonate in your industry. You’ll also need to develop a buyer persona, set goals, identify purchase triggers, and develop a content strategy.
The trade-off is worth it though. This investment in content can underpin the rest of your business. This is especially important when you consider how the B2B buying cycle has changed since COVID, with 8 out of 10 B2B buyers now interacting with multiple pieces of branded content before even thinking about talking. Talk to the salesperson.
Draw attention to stand out from the crowd
In today’s hyper-competitive field of marketing, outbound marketing is hard to keep up with. However, many companies spend a large portion of their marketing dollars trying to buy their audience rather than growing it. They try to drive people towards their brand rather than attract them. This is not to say that extroversion tactics don’t work. There’s still room to buy the audience.
