Taking The Right Sales Approach: Outbound or Inbound?
Ever considered what might be the perfect way to boost your sales pipeline? Being in the B2B world, this is by far the most common concern that any or every business owner wishes to attain. Juggling between the idea of developing a robust inbound lead generation process or adopting the outbound sales approach comes naturally to business owners.
To be honest, you would have multiple people advocating an inbound-only kind of lead generation tactic. It has been quite popular and does have the potential to attract customers and helping you scale well in a cost-effective manner. However, then again, outbound leads substantiate itself as a coveted opponent. Indeed, it regularly requires nurturing and does depend upon pushing newer ideas to innovate sales strategies onto (at times) clueless prospects, yet it's one of the most impressive approaches to establish brand credibility and close massive deals.
Well, then who wins the tussle between Outbound and Inbound leads?
To be honest, Robert Frost might just be profoundly baffled with my response, since these two marketing methodologies veer in multiple ways, yet in my opinion, a business should pick both. Everything relies upon a business’s objectives and the kind of business they wish to run.
Let’s continue to pursue which of these two completely different strategies can work as an advantage for your business.
But before we deep dive, you must understand that these two strategies, inbound and outbound are not set in stone. Businesses have the option of adapting what suits them best, even blending the approaches to ultimately thrive in their sales targets. However, to observe, learn, and succeed the correct decision is to just defy the norms.
A zillion sales professionals might vouch for inbound leads, yet there is a possibility that outbound leads might prove to be an advantage for your business. The general perception of sales and lead generation you find around yourself are most likely to be applied 70% of the time—yet the remaining 30% of the time, choosing the opposite sales method might be the best decision you ever took.
There is no arrangement of fixed inquiries, no overview that you can finish, no logical method to precisely figure out which is directly for your particular business at this particular second in time. There is no scientific research or survey that can establish whether Inbound or Outbound lead generation is the best option for your business type, but you can gain out of the experience if you grasp what both the strategies entail.
Let us do a quick comparison of Inbound vs Outbound
Who initiates sales?
In inbound, it is the prospect that begins the sales process. It is the customer who shows interest in your product or service. While in outbound, a sales rep initiates contact with the potential customer and introduces your product or services.
What is the process?
Inbound sales can be generated from almost anywhere the brand has its presence. It can be through the business website or even as simple as downloading a case study or e-book where the prospect needs to leave their contact details. Outbound on the other hand is initiated through cold calling, cold emailing, or even dropping cold texts. Outbound can also be done through targeted advertising and social media outreach.
Who does the research?
In inbound sales, the prospect does some homework before approaching the business. The potential customer takes pain to read articles, go through webinars, check testimonials, and finally reach out to show interest. Whereas outbound sales leads are handed down quality content exclusively created to entice a prospect. The sales rep takes extra measures to guide the prospect about merits and at times even personalize the sale process by addressing industry-based challenges that the business can solve.
Now comes the big question is, how do I decide when to use what? Well, it is fairly easy.
Use Inbound Sales Strategy when
1. You wish to grow business organically and do not have a big marketing and sales budget
2. Your product or service is unique, and customers are bound to look for you online
3. You already have strong customer advocacy in place and your sales cycle is quick
4. You are acing at distributing great content that helps prospects find you
5. You know your set of prospects do not fall for outbound strategy
Use Outbound Sales Strategy when
1. You have a product or service that requires a major investment
2. You are targeting enterprise clients
3. You have a product or solution that has never been made or sold
4. Your sales cycle has a long process and dependent on multiple decision-makers
5. You have the budget to afford sales teams and afford incentives
Inbound or outbound, deciding upon a sales journey and the method to heighten sales is best realized by a business that knows its operations and individuality that differentiates it from the rest. No one understands sales and the approach to master sales processes for big and small, all businesses alike better than us. If you struggle with generating leads or drawing the attention of busy decision-makers, contact us today!