If you have ever seen the movie Moneyball or at least read the book by Michael Lewis, then chances are you were inspired by its “do more with less” theme. In case you aren’t familiar with it, the movie (and book) retells the events of the Oakland Athletics during the early 2000s in which they shook up the baseball world with a then radical approach to the sport. There are actually a great many great lessons from the movie, but one of the biggest is that sometimes spending more doesn’t always get you better results. It’s about taking a look at your systems and simply making them more efficient; you can have results equal to or better than those who spend significantly more. I bring this up because it perfectly illustrates the thinking behind inbound marketing. It is about spending less and getting more, about being very specific with whom you market to, and about creating content that keeps working for you years after you create it. With this blog post, I will show you just how inbound marketing can beat out outbound marketing.
Targeting Specific Demographics
While some outbound marketing methods are at least somewhat targeted, appearing during shows watched by a key demographic or being placed in relevant magazines, they are still for the most part trying to reach as many people as possible with the hopes that someone converts. Inbound marketing, on the other hand, is about using the wealth of information available on the internet to target very specific demographics, ones who are much more likely to convert. This means less time and effort time on trying to convert weak leads.
Less Cost per Lead
Outbound marketing operates on the principle that the more money spent, the more business generated, typically with a rather large price tag attached. This is in part due to the fact that they try to reach a large audience, typically with the understanding that only a small percentage of the people who see the ad will convert. Since inbound marketing is more targeted, you end up spending less for the same amount of leads. On top of that, the types of content used in outbound marketing tend to be pricey, needing to create commercials, print ads, and other such types of content which require a great deal of people, time, and technology. Inbound marketing involves much less expensive content, such as blogs, social media posts, email ads, and similar digital content.
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