In today’s generation, people have a lot of information about what they will buy and what they have purchased. This is why outbound marketing is an important process for the challenge of selling to a customer with tons of information about your product.
So if the firm or organization is interested in business agreements & has a long-term purchase period, it will be a good investment for the business.
Now the questions come to everyone’s mind:
— “What is outbound marketing?”
— “Is this marketing helpful for the business or not?”
— “If it’s helpful, what are the top characteristics or strategies to consider to grow your business?”
Let me answer the above three questions simultaneously.
What is Outbound Marketing?
Outbound marketing is a marketing process where you initiate conversations with the customers to attract them to your product & business with your sales team directly approaching the target audience. This type of marketing is an excellent way to expand the reach of your product or service.
It works on one criterion: the larger the group of people you message to, the chances of return becomes higher. The main target of this marketing type is to actively build a relationship by engaging your communication with the audience at the right time.
“Now, let me answer the second question.”
Does outbound marketing help the business?
Well, this marketing process will enable you to improve your sales and ultimately generate more revenue for the business. Here are some of the benefits of outbound marketing for your business:
- Direct Brand Awareness – It directly promotes your brand to the public and reach the people who haven’t heard of your product before.
- Immediate Results – In this marketing, if a potential customer is interested in your product, they will respond immediately to your email, ads, call, etc. This eliminates excessive waiting time and gives a sense of clarity, without the need for any contingency plans.
- Easy credibility – In this marketing, you actively present the latest technology and product regularly through ads, TV, newspapers, etc. The customers will only come to you if you are updated with the new & best services in the market.
- Predictive – The sales team can strategize and create a sales process that is predictive and set a conversion rate for each sale. This allows you to assess the growth of your business and take decisions accordingly..
- Highly customizable – It allows high level of customization. It means you can build a relationship with the customer, meeting their specific needs & goals. This customization increases the chances of completing a sale and generating revenue for the business.
Top 5 Characteristics to be considered For Outbound marketing
Here are some characteristics you should consider for a successful outbound marketing strategy:
1. Acknowledge the Lead Type & Define Targeted Goals
The first important step is to understand the lead type and define all parameters necessary to achieve your sales goal. There are three types of leads that you will need to focus on
1. Seeds – These leads directly come to the company by coming across your ads. These types of leads are high quality and don’t need too much information about your product or service. This type of lead convers quickly into revenue.
2. Nets – These leads are produced with the help of inbound marketing. The customers here are relatively qualified with the product information, and it is harder to motivate them to buy the product.
3. Spears – These are outbound sales leads that come through call, e-mail, etc. These customers may or may not be qualified with your product information.
2. Hire a Qualified Sales Team
When hiring a sales team, you will come across two types of a salesman:
1. Hunter – This type of salesman will first contact the clients & then schedule a meeting with them. This is an essential characteristic you will need to consider in outbound marketing agency.
2. Closers – These types of salesmen come after the Hunter, showcase the product, explain its features, make the contract, and close the deal.
3. Understand the Sales Techniques & Strategies
Before strategizing, you must understand sales techniques. Let me tell you the seven outbound marketing strategies that can help build your brand awareness.
- Cold Email
- Direct Mail
- Search Ads
- Social Media Ads
- Cold Calls
- TV, Radio & Print Ads
All these strategies are work on one method – AIDA. The full-form of AIDA is Awareness, Interest, Desire, and Action.
- Awareness: You must impress the customer in the first few seconds, whether he is reading your ad or listening to it. You need to communicate effectively that your brand understands their problem and has a solution.
- Interest: You will need to show the customer that your brand is interested in their problem and explain how you can solve it effectively.
- Desire: Showcase to the customer the advantages of the solution offering .
- Action: Close the deal with a well-defined action point, where the customer books a meeting, buys the product, etc.
4. Lead follow-up & forecast
You will need to make a lead follow-up & forecast to ensure the success of your outbound marketing strategies. Regular monitoring & forecasting routines will help identify & correct the problems in your sales strategy. You will need to regularly track your leads and potential customers. This step will help your sales team to assessis their mistakes, achievements & challenges when handling a sale.
5. Analyse the result
It’s necessary to analyse the impact of your marketing strategies to justify the exisiting operations & make changes wherever necessary. You must define the Key Performance Indicators (KPIs) of your sales team for a complete understanding of the sales process and your expectations from the team. Let’s take a look at some important outbound marketing strategy KPIs:
- Lead Time: In this, you will establish the time taken by a lead to move towards the next stage of the sales funnel.
- Conversion Rate: This is the rate of your leads getting converted into final customers. The conversion here should be pre-determined by you, depending on the nature of your product or service.
- Customer Lifetime value: Calculate the customer’s lifetime value with the brand, based on the customer’s purchase value, their purchase frequency, and their total customer lifespan.
It is possible to create effective outbound marketing strategies and campaigns that reach the right audience and grows your business. You can use a variety of factors to define your outbound marketing activities. These include demographics, geography, interests, and customer behaviour. Advertisers and their campaigns only target a pre-determined set of audience, which is why online advertising is so popular for outbond lead generation. Get many more helpful marketing tips, marketing guides, customer retention strategies, and much more, on Voxturr.