The Outbound Marketing guide for 2020
Nowadays, customers have access to a lot of information about what they want to buy.
Because of that, it’s essential to create a structured sales process, especially when we talk about complex sales.
If your company is interested in making business agreements and has a long-term purchase cycle, Outbound Marketing strategies may be a good investment.
For that to happen, you need to understand what Digital Marketing is and its processes. These are fundamental actions to improve the results of your company.
This guide shows you everything you need to know about Outbound Marketing, what the benefits are, and how to implement a strategy to get the best results for your company.
Keep reading to understand more about:
- What is Outbound Marketing
- What are the pros and cons of an Outbound Marketing strategy
- What are the differences between Outbound Marketing and Inbound Marketing
- How to run a successful Outbound Marketing strategy
What is Outbound Marketing
Outbound Marketing is an active prospecting process.
This strategy includes actions that enable your sales team to approach your brand’s potential customers directly.
The process considers the customer journey and happens objectively, allowing your company to measure the results.
By using Outbound Marketing strategies, your sales team can reach a larger number of customers.
What are the pros and cons of an Outbound Marketing strategy
There’s a right time to implement an Outbound Marketing operation in a company.
It depends on some aspects of the sales process. To understand if this method fits your business, you can analyze its pros and cons. Check it out below!
An effective Outbound Marketing strategy is:
- a complement to Inbound Marketing actions.
When the company structures the sales process, it’s possible to know the conversion rates of each sales team member, the stage of the funnel your customers are, and other relevant information.
All these data will inform you of how to plan your business growth.
If you need 2 salespeople, to convert 100 leads in 10 customers, you can increase your sales by hiring more salespeople.
The close approach of Outbound Marketing allows a higher level of customization.
This way, you can build a customer relationship based on their needs and goals. This strategy increases the chances of closing deals.
A complement to Inbound Marketing actions
When a company has an Inbound Marketing strategy implemented and running, it can attract more leads.
But this approach may not work correctly if there’s no plan for the next steps.
A strategy that complements this process is Outbound Marketing, influencing these leads to close the deal.
An Outbound Marketing strategy can generate great results, but you need to consider the cons of those actions.
The main are:
- one way communication;
Outbound Marketing strategies usually involve bigger budgets, and it scares most companies.
The operation needs a qualified team, specific tools, and strong management to work.
Besides, the company must know the cost may raise during the campaign.
That’s why it is so important to measure the Return on Investment (ROI).
One way communication
Digital Marketing strategies run to grab the customer’s attention in indirect ways.
The result is the customers look for the company to buy its solution.
In opposite, Outbound Marketing approaches the clients when they didn’t request.
This action can make them uncomfortable and less oriented towards the purchase.
Another consequence of the unsolicited approach may be an action of blocking by the audience.
Today, many people know how to use technologies such as advertising blockers, phone call blockers, and spam filters for emails.
They’re also very good at unsubscribing from not requested email lists.
What are the differences between Outbound Marketing and Inbound Marketing
Some people compare the Outbound Marketing to another marketing process: Inbound Marketing.
So, they treat them as if they were opposites themselves, which isn’t real.
To put in good terms, they’re more complementary than opposites. To understand how this works, let’s see the differences between them.
Inbound Marketing is a passive method that persuades the lead to come to the company passively.
The company does that by creating attractive content for their audience.
When the leads get in contact with the company, they already know what they want and the product or service that it sells.
Outbound Marketing is an invasive method that presents a company to the public.
Often, the consumers don’t even know they struggle to solve. When a company contacts customers, it helps them discover their problems and offers a solution.
Despite being different strategies, when combined, they allow the company to have better results.
How to run a successful Outbound Marketing strategy
As a structured process, Outbound Marketing has a lot of elements and techniques that we should combine to make things happen. The next topics will explain each one of them. Keep reading to know what you have to do!
Recognize leads types and define goals
The first step is to know what are the leads types and define how much of each of them you need to achieve your sales goals.
To do that, we must start by creating a buyer persona profile for each one of these leads.
We’ll define the leads by their acquisition channel. Know them:
- Seeds: they come to the company by word-of-mouth method. They don’t need a complex acquisition process, and they’re highly qualified;
- Nets: they’re the leads brought to your company by Inbound Marketing. They’re relatively qualified;
- Spears: they’re the Outbound Sales leads and may or may not be qualified.
Get a qualified sales team
Outbound Marketing strategies are common in SaaS — Software as a Service — startups.
These companies generally adopt an internal sales operation, which includes two types of sales professionals.
Companies realize that high-performance salespeople are sometimes unproductive because they need to split up into prospecting and closing processes.
That can be solved by hiring a professional for each stage.
We’ve listed the differences between these two types of salespeople:
- hunters: prospect customers. They make the first contact with the prospect and schedule a meeting;
- closers: show the product, prepare the commercial proposal, the contract, and close the deal.
Know the prospect and sales techniques
While starting your strategy, it is important to use some techniques that ensure good results.
Cold mail and cold call
The purpose of a cold call is to prospect the customer that hasn’t made any purchase or contact with your business.
The cold calls can be mistaken by telemarketing, but there are some differences between them.
In cold calls, you need trained and prepared salespeople. In telemarketing, this is not always necessary. The metrics and KPIs can be different too.
One thing you should keep in mind is that some countries have strict policies for commercial calls.
It’s worthy of mentioning that, despite the cons regarding the audience, cold calls can be really effective when well-planned and executed.
When using methods such as AIDA, cold calls are more likely to generate good results.
Understand more about AIDA:
- Awareness: you need to get the customers’ attention in the first few seconds of the call or on the email’s subject, showing that your company knows their problems.
- Interests: the second step is to show how your company can solve the consumer problem.
- Desire: your company needs to show the advantages the solution offers to make consumers interested in it.
- Action: finally, you need to make the consumer decide for something, such as booking a meeting or buying your product.
Use qualified patterns and frameworks
The lead qualification matrix is a way to understand how fitted the leads are to your business and solutions that you sell.
There’s no sense in a list full of leads that won’t buy your products.
To know how hot is a lead, you have to consider the profile and the maturity axis.
Know what each one represents:
- profile: it’s the main lead’s characteristics, such as annual billing, employee quantity, actuation market and other information that impacts their fit to your product;
- maturity: it’s how much educated the leads are about their problems and if they understand how your product will help them.
Using this matrix, you can discard the leads that won’t buy from you. This way, you’ll better guide and follow up leads that need more education.
Make a lead follow up and forecast
To ensure the success of your Outbound Marketing strategy, you need to establish a monitoring and forecasting routine.
These practices are very important to keep potential customers on the radar. This way, you can identify and correct problems in the sales process.
Make sure your team is keeping the recommended frequency of tracking customers.
Also, ask professionals to explain their difficulties, achievements, and mistakes. That is important to improve your sales strategy.
Analyze the results
It’s essential to monitor the results of the Outbound Marketing actions for many reasons, but mainly to justify the maintenance operation and make adjustments.
To better understand the results, you need to define Key Performance Indicators (KPIs).
The main Outbound Marketing KPIs are listed below:
- Lead Time (LT): how long it takes the lead to advance to the next stage of the funnel. That determines the size of the sales cycle;
- Conversion Rate: the list of how many new leads became customers;
- Customer Acquisition Cost (CAC): is the amount invested in new customers. This indicator determines the value of each customer;
- Lifetime Value (LTV): is the total amount spent by a customer in your company;
- Churn Rate: how many customers cancel the contract before the predicted time.
As you just saw in this post, Outbound Marketing is a part of the sales process.
Besides the differences between Outbound and Inbound Marketing, both are complementary methods. These strategies aim to boost the company’s results.
If your company deals with high-budget business with big value-added, implement this strategy with Inbound Marketing. This way you’ll ensure sustainable growth.
Now that you know all about Outbound Marketing, learn the differences between Digital Marketing and Traditional Marketing!