Inbound marketing versus Bold marketing: the pros and cons
Advertising and marketing your company is one of the most important aspects to consider when developing your business model. Profit, progress and growth often rely on marketing to a large extent. Effective advertising aims to assure audiences of the quality of a service or product and to generate leads and sales. This is even more important in start-up companies who have not yet established themselves. To help you decide which marketing strategy is most effective for your business, we have outlined the pros and cons of both inbound marketing and bold marketing, it’s up to you to decide which one you need!
Inbound marketing is such an effective strategy because it empowers both consumers and companies. Why? Because companies can post relevant content and deliver it on platforms where they know their target audience spends time. These spaces usually include Facebook, YouTube, Instagram, LinkedIn, Twitter and Google Plus. Content varies from blog posts to videos to sharable infographics and images. Consumers relate well to this strategy because it empowers them as well, they can go out and find the content that is relevant to them and choose whether they want to use a company’s service or not based on what they are producing. An element of trust is established between potential clients and companies before contact is made which influences future sales decisions through consistent prospecting that is not invasive.
Examples of Inbound Marketing include:
Why this strategy is Effective:
1. It builds trust;
2. It develops long term relationships;
3. It lets the consumer come to you;
4. It aims to add value;
5. It can grow brand awareness through the sharing of content;
6. It increases Search Engine Optimization (SEO).
7. It offers free services or products;
8. It is engaging;
9. It is cost effective.
Why it is Ineffective:
1. It takes a long time for it to work;
2. This means results are not immediately visible;
3. Which makes it difficult to track ROI at times;
4. It is time consuming.
This tactic has often been referred to as aggressive marketing as it seeks to grab user’s attention. The strategy requires that a company makes a conscious effort to go out and find clients either through ad pop ups, paid ads on social media, sales calls, messaging people on LinkedIn and newsletter or advertising emails. This strategy can come across as spammy and has been known to annoy people in the past. However, it can be an effective strategy for start-ups or local businesses. The key to effectively employing this proactive approach is by making sure you are reaching out to people who are interested in your service and by leaving your prospects feeling positive about your company even if you did not make a sale.
Examples of Bold Marketing:
Pop up ads;
Auto play videos;
Personal messaging on LinkedIn.
Why it is Effective:
1. It gets immediate results;
2. It is a competitive strategy and has been used in marketing for years;
3. ROI is tangible and easy to track;
4. It does not take a lot of time.
Why it is Ineffective:
1. People sometimes get annoyed with it;
2. It can decrease SEO (Paid pop up shock adverts);
3. Has the potential to breach GDPR regulations if data has been passed on from another source where it was illegally obtained.
Usually, it is best to utlize tactics from both Bold and Inbound marketing rather than opt for an either-or approach. Bold marketing has the potential to get you clients immediately which as a start-up (and to make a profit) is essential. Inbound marketing has been known to work for larger corporations and it can take some time to work so it may be a good idea to start sooner rather than later.