In the era of high competition, firms buckle up to bring customers on board. What needs to be done just before getting a customer?
It’s lead generation. In the simplest words, when a lead (or a potential customer) interested in the services or the product provided by a company shares this interest with the company then this is called lead generation. So basically, it’s all about targeting the customer’s interest, convincing him/her to buy your product and then exchanging your service or product with customer’s money.
Lead generation can be done in two ways which are both effective at their place. Companies choose the ways as per their taste and requirement. Well! Gone are the days when companies were using outbound ways to advertise their service and products for lead generation. In the prevailing circumstances, there is high competition not only to reach to the strangers but also to convert them into customers. Companies found the outbound way as ‘out of the blue’, while the inbound way as the most effective way to generate leads.
There is a great difference between the inbound and the outbound ways. Let’s see how an inbound way is more effective than an outbound way.
Two ways to approach to leads
In an inbound way, the company lays a trail of content, ads and landing pages to lead the strangers to follow the company and generate demand. In the outbound way, which is more of a traditional way, the company needs to reach the prospects in order to tell them about their services and products and convert them into customers. The efficiency of this operationally intensive approach drives the number of leads that can be generated through this approach.
Timing and medium of interaction
The timing of interaction plays an important role when it comes to convincing someone. Reaching out to someone at a particularly wrong time can be a deal-breaker, so it’s a better approach if you can lead the prospects to reach out to you when they feel the need. In an inbound way, the prospect chooses the time and the medium to interact whereas in the case of outbound the company chooses it.
Key mediums: With the advent of the internet, it is now easy to interact with anyone without disturbing them as the company can drop emails to the prospects, track them through cookies or connect them through social media. The typical outbound channels are more traditional ones like cold calling while in an inbound way one uses an effective way like emails, social media etc.
Marketing skills: In an inbound way, one needs to possess proper planning, graphic design etc. while for inbound way, one also needs to be good in PR, internet marketing etc.
Well! All a company needs is a good amount of leads generated, no matter how they are getting them. Some find it better to go with the inbound ways while other find outbound more effective. Although it largely depends on the company and its target audience, inbound is increasingly becoming the preferred way for lead-generation.
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