Whether you are a layman or experienced salesperson, sales isn’t easy. It takes a mixture of empathy, creativity, confidence, persistence, willingness to learn and adapt to the ongoing changes in the market from time to time. Outbound and Inbound would be the two key approaches for building a strong pipeline.
Outbound marketing refers to a kind of marketing strategy where a company initiates the conversation and sends its message out to a larger audience
Outbound is a sales process where a Sales Rep initiates a sales engagement from his/her end and schedules a meeting with the company’s AE’s. Sales Rep might use calls or other channels like Emails, LinkedIn and other Social Media channels to create interest.
The outbound approach involves going out into the market and trying to create interest from the scratch level. Outbound is all about prospecting, generating cold leads and identifying if there’s any interest.
In the case of LeadShuttle, we reach out to the Heads of Sales, Marketing, and Business Development, among others. We get in touch with the target audience and find out if they’re struggling to book more meetings or to stay on top of their leads. Outbound prospecting is usually carried out by an SDR/BDR.
An SDR is an Inside Sales representative that solely focuses on Outbound Marketing. SDR helps a company to qualify the leads and schedule the appointments with Account Executives(AE’s) or Sales heads which helps them to solely focus on closing the deals instead of wasting the time with prospecting. Without the SDR qualification process, the sales cycle takes too long to complete.
Identify Target Accounts
Identify Key people (Decision-makers)
Run a personalized campaign
Nurture the warm prospects
Create interest and schedule an appointment with the AE’s
This category covers all inbound leads. These are leads who are already engaged with your content, who are interested in your product and sign up without any additional qualification needed.
Initially, cold outbound sales was the only real strategy. Nobody really had a method for generating inbound sales. Then, in the last decade or so, the birth of content marketing made inbound a much more viable strategy. Ever since then, inbound has dramatically grown in popularity. As a result, we’re often asked which method is the most effective. What should you focus on? The unpopular answer is: “It depends”. It depends on your specific product, on your ideal customer, and on how long you’ve been in business
If you start a company tomorrow, all your business is going to come from outbound leads. Despite inbound popularity, outbound usually forms the core marketing efforts for any organization, particularly for new startups. As a result, startups and growing companies will benefit most from using outbound methodologies. Outbound marketing accelerates your sales pipeline and will also act as a supplier of warm prospects for which you can apply your inbound strategies.
Outbound marketing baked with research, testing and optimization provides a way more better ROI when compared with the Inbound Marketing and it promotes your brand and offerings to a larger target audience when compared with limited subscribers in case of Inbound, especially for startups and growing companies which fall under Micro, Small and Medium categories.
Outbound marketing when backed with Lead Nurturing provides the Sales team with highly qualified leads/opportunities who would be more likely to convert
Startups/Growing businesses can greatly succeed with outbound techniques.
Outbound can be done using various means but email would be the most effective one and you can track the performance of your campaigns anytime. Email delivers the highest Return On Investment(ROI) for marketers. For every $1 spent on email marketing, you can expect returns of $44
According to Campaign Monitor, there are 3.9 billion active email users. American workers would receive an average of 126 emails per day and almost 82% of the users would check the emails that you had sent. When polled, the majority of B2B customers still say that they prefer to receive marketing messages by email and also, 87% of marketers use email campaigns to nurture their leads.
To learn more on the evolution and current trend in Outbound Marketing, Read This