Inbound vs. Outbound Lead Generation
Although inbound and outbound lead generation share common goals, there are some differences between ways of working. We sort out how they work and provide an insight into the difference between inbound and outbound lead generation.
Inbound lead generation
Simply put, inbound lead generation is when you share content. It can be downloadable guides, checklists and other content that add value to your target audience.
The goal of the activities is to attract people from your target audience and get them to voluntarily, provide contact information.
Inbound lead generation is about taking people who have shown an interest and warming them up with different kinds of content to “warm them up” until a seller can be connected, book the meeting, and ultimately close the deal and convert them.
Outbound lead generation
Outbound lead generation is the opposite of inbound lead generation. In other words, it is any activity that occurs outside without people you contact has shown interest. For example, ads, mail, and outgoing calls.
In most cases, outbound lead generation occurs without data insights. This is done with the help of purchased lists or by the seller manually looking for new prospects and calling.
But with the right tools in place you can save a lot of time and avoid manual work. Streamline your work by working more data-driven! Below is an example of how easy it is to create a new list.
The approach differs from each other but at the end of the day, it is about generating new leads. Even if you choose to do so by integrating with those who are actively looking for your business or through activities like picking up the phone and calling.
Another common factor is that both activities will be more effective if you and your company have a clear picture of your ideal customer. Why? In order for your work with both inbound and outbound to yield results, you must direct your efforts correctly.
You have to find your market
Many outbound lead generation strategies are usually linked to a lot of manual work, a lot of wasted time and inconvenient conversations. If your company uses manual tactics, we are prepared to agree.
Inbound on the other hand is very advantageous if you manage to create a sufficiently strong strategy. However, it should be pointed out that in order to get something back on your activities you have to be good at creating content. The challenge? It takes time, costs a lot of money and takes time to build up.
No matter what type of channel you choose to invest in, an important step remains. You must be able to see how much of the market you reach with your different channels.
How many companies are out there that should be your customers? How many have you reached? Which companies are still unprocessed?
Just focusing on the companies in your CRM and those who show up in call lists or Marketing Automation tools means you only see the tip of the iceberg.
But as an organization, you need to keep track of everything! Otherwise, you go to the same company several times, mixing up customers and prospects at the same time as you completely miss other companies. Effectiveness is suffering. The frustration becomes great. You will have no idea of potential in the market and will, therefore, have difficulty prioritizing correctly.