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December 7, 2022
How much do you spend on lead generation?
We’d venture to guess a lot more than you do on other projects.
Lead generation is so crucial that more than half (53%) of marketers spend half of their budgets on it today. They lay all that money on the line to ensure that their ads reach the right audience and identify the right prospects, so their sales funnel fills up and starts making real customers.
Yet, as important as it is, finding prospects in highly competitive markets where people are aware of marketing tactics isn’t a breeze. That is also why more than half (61%) of marketers say that lead generation is their greatest struggle.
Because of this, new ways of attracting potential customers have emerged, falling under two categories: outbound and inbound lead generation strategies. Which one works better? Which one should you focus on?
Let’s compare the two to help you find a better plan.
Outbound lead generation is when a brand reaches out to a potential customer to make a sale. Methods can be through calling, emailing, social media, job portals, and more. Whether done in person or online, the goal is to talk to a customer without prior notice to encourage conversion or purchase.
Outbound lead generation can come with the following strategies:
Other outbound lead generation methods are possible as well, but these give you an idea.
Inbound lead generation is when the leads themselves initiate contact with you. Methods to encourage it can be optimizing search engine results, social media influence, and ways to engage visitors through an information exchange (i.e., brand provides value, leads provide personal information). Simply put, inbound lead generation lets buyers have more control in an attempt to seem more approachable.
Inbound lead generation can be done through several strategies:
Within these, there are seemingly endless lead generation strategies out there—but theyl all fall into either two of these categories. But the question remains, is one better than the other?
If the answer was simple—you wouldn’t be here googling it. That’s because it depends on your business model, customers, and ability to invest. So, let’s look at some of the differences between the two, so you can understand how they affect your business when executed.
Here are 6 key distinctions between them:
As you can see, both outbound and inbound lead generation strategies come with pros and cons. It’s up to you to determine what factors you should prioritize to achieve business goals. Whichever you choose, however, all lead generation campaigns will only be successful with the right strategy in place.
Alternatively, you can run both types of lead generation simultaneously to see which one works best.
Now that you know the two types of lead generation, it’s time to find out which one is best for your business. Of course, we highly recommend talking with experts to figure out the best lead generation strategy for your business structure, goals, and needs.
At ScaleUpSales, We have the experience and knowledge in both outbound and inbound methods to help you determine which type of lead generation will work best. With our help, you can focus on what’s important—growing your business while sales reps are busy closing deals.
Contact us to see what we can do for you.