Marketing is a dynamic subject and the scenarios in marketing keep changing. In fact, it is this department that really determines the overall environment of the market. With the whole hullabaloo around digital media, the focus of many marketing departments has completely shifted to content development, SEO optimization and engaging customer on social media platforms. Does this mean that the age old outbound marketing is losing its relevance?
Well, not really. If you are a marketer you would know that many new concepts have come and gone in the past, but outbound marketing for lead generation has managed to hold fort. This does not demean the newer concept in any manner and there exists a happy co-existence of both in today's times. However, since outbound marketing is extremely data based, the chances of it dwindling are slim.
Outbound marketing is one of the major drivers of revenue growth and a survey conducted by Discover.org on marketing professionals throws light on the value that outbound marketing add to the business. Here are the highlights of the study as we take a look at the strategies used by various companies for outbound marketing:
- 37% of the sample set surveyed apportioned a major chunk of their budget towards outbound marketing.
- The concept of direct mail is still prevalent and used by 50% of the companies surveyed.
- Almost 100% of the marketers thought events play an important role in lead generation.
Strategies and essentials for outbound marketing highlighted during the survey are:
1) Calls and Mails
75% of the companies surveyed have a dedicated resource for outbound marketing and techniques like telemarketing, cold calling, sending emails, tradeshows, purchasing lists for email marketing and such activities are popular ways used for outbound marketing. Tradeshows and email marketing are the most popular out of these methods. While other techniques like digital marketing, media marketing and such have also been put into use, outbound marketing still proves to be the most tangible and reliable of all the methods. Another reason for this is that the scope of outbound marketing is wide and varied and can be customized to the needs of the organization.
2) Updated Contact Lists are the Need of the Hour
All marketers surveyed agreed with the fact that a company's marketing efforts are only as good as the data lists that they have. There is a direct correlation between the accuracy of the contact lists to the success of the marketing strategy employed. Inaccurate and outdated contact lists are sure to produce a poor response rate from emails and wastage of resources while tele-calling, which will ultimately mean wastage of time, effort and money.
All the companies surveyed had a dedicated resource of team accountable for the accuracy of the data lists. Both in-house database creation and purchasing lists from professional organizations are popular methods of obtaining accurate contacts.
3)Who, How and What
Understanding WHO is your target customer, HOW to reach him and WHAT solution to offer to his problems really holds the key to effective outbound marketing. The organizations that can build this in their strategy are sure to succeed.
3)Account Based Marketing (ABM) is an offshoot of Outbound Marketing
The new concept of ABM, where you target accounts and pitch your product or service using a thought through and systematic approach using personalized messaging is also one of the offshoots of outbound marketing. Understanding of the customer is paramount in this process and since the effort from your end is more, it is worthwhile to research your targets before zeroing in on them.
A half hearted research with the interests and pain points of the target not known will only mean unsuccessful attempts. Therefore, before adopting ABM as a part of the preferred outbound marketing technique in your organization, you must understand completely the logic that drives this method, the ways to understand your target, best techniques to approach your targets and the quality of the sale pitch needed for them. You must also set a check point to understand how many inputs and how much effort is needed from your end and the response needed from the customer's end to take the association forward. If the latter is not favorable, the account must be dropped at that instant to avoid wastage of any more resources.
Techno Data Group is b2b marketing firm in Wilmington, Delaware focusing on business success. We can help you targeting key accounts using real time verified data; we can identify your buying personas, analyze your existing database and fill in the missing information.
We work with some of the world's leading brands and Fortune 500 companies. We are proud to say that we are their preferred database partners.