Inbound Leads vs. Outbound Leads
All businesses look forward to lead generation; using multiple channels, they can target new customers and increase their overall revenue. Attracting potential prospects and generating leads is essential for the survival of a business. When it comes to inbound leads and outbound leads, marketing professionals have constantly compared them to see which performs better.
Both types of lead generation play an essential role in the growth of the business and utilize different marketing tactics. Below, we will discuss the key differences between inbound leads and outbound leads that marketers should be aware of when creating business strategies.
Inbound Lead Generation
Inbound leads are the creation of strategies and content which attract prospective customers to your business. These leads typically discover your business online and are the first to initiate direct contact through email, direct message, or your website.
Inbound leads can be generated through search engine optimized website content or social media platforms. This content attracts prospective customers to your product or service and prompts them to contact you directly. Usually, these warm prospects are already aware of what your business is offering, and they reach out to seek more information.
These leads can be nurtured and converted into customers once the value they seek is delivered. Some other techniques for attracting inbound leads include:
- Google maps
- Video production
- Social media posting
- Warm calling, mailing, texting, or emailing
- Search Engine Optimization
The process of lead nurturing includes developing a relationship with prospects. Marketers can use different communication channels, including email, live support, or CRM, and provide informational value throughout each stage of the sales funnel. Lead Revealer software allows your sales team to see potential leads visiting your website; these warm leads can then be contacted and nurtured into customers.
Outbound Lead Generation
Outbound lead generation differs from inbound leads because you contact them first. It is the introduction of your product or service to your target market. Campaigns can be launched on multiple platforms to reach a group of cold prospects, including cold calling, social media advertising, and cold emailing. These strategies are targeted to a cold audience that has never had prior contact with your business. Some of the most common marketing strategies to attract outbound leads include:
- Search engine marketing
- YouTube ads
- Influencer marketing
- Social media ads
- Cold calling, texting and emailing
Which Is Better?
There are some key factors to consider when comparing inbound and outbound leads, and it is important to figure out which marketing channel suits your business better.
Level Of Awareness
As mentioned above, inbound leads are warm prospects, and outbound leads are cold prospects; therefore, outbound leads have little to no awareness of your business or product. This level of awareness can make a huge difference in your marketing strategy. Inbound leads that have shown interest require little research; however, since you are targeting outbound leads, you will need to identify and research your prospects.
Speed Of Conversion
Since inbound leads are already aware of your product or service, they are searching for the value it offers. This can take more time to nurture and convert them. However, when you first reach out to an outbound lead, they are typically an immediate yes or no.
Trust And Credibility
Inbound leads regularly consume the content that you are offering. Most likely, they have visited your website and read your testimonials. Therefore, the inbound leads expected trust and credibility is lower.
Since outbound leads have never heard of your products or services, you initially have zero credibility. They are looking for enough reasons to trust your business when you first reach out.
There is no conclusion as to which is better when comparing inbound leads and outbound leads. However, deciding which ones to target can vary on your business, products, service, and overall marketing strategy. Inbound leads can be targeted easier with Lead Revealer software; having the ability to see the touchpoints they took towards your website gives insight to your sales team on what they are looking for and how you can provide value. Cold email, texting, or calling are good methods for attracting outbound leads. Lead Revealer offers lead generation software to grow your business and increase revenue; visit our website to learn more.