Why You Need Outbound Marketing For Your Business

Did you ever feel like marketing campaigns are far too expensive and bring very little return-on-investment?

 

For the most part, marketing campaigns can be very complex – you need a very thoughtful strategy to get somewhat high percentages of return-on-investment. What we may not realize is that we’re effectively burning out money from our profits for very little gain.

 

In such cases, Outbound marketing can be key for small and medium businesses worldwide. It has already been showing traction lately, and it is not long before every company will realize the sheer power of such marketing and will soon adapt to these changes.

 

So, why does outbound marketing have such potential?

 

What Is Outbound Marketing?

Outbound marketing is a new type of marketing campaign, which includes prospecting, cold emailing and lead nurturing. Typically it’s a B2B marketing where you can target other businesses to use your product/service. In this type of marketing, the businesses contact directly with prospects and create a killing sales funnel that converts the prospects into leads.

 

In simpler terms, businesses look out for people who’d want to use the product or service it offers and tries to convince them to buy it. This is mainly done by the help of cold emailing; you write a persuasive and personalized email that the prospect sees.

 

It seems easy, right?

 

In fact, it is far more complicated than it sounds! There a variety of metrics that go into successful outbound marketing campaigns; it is never predictable of how the consumers will behave. However, we can create a sales funnel with which we can draw out a probable behavior depending on the consumer’s personas and lead them to our end goal.

What is a sales funnel for outbound marketing and how does outbound marketing bring high ROI

The Sales Funnel

A sales funnel is a pathway to identify a prospect’s probable journey through your product life cycle. This includes the point where the prospect gets to know about your product or service, urges an interest towards the offering, grows consideration and intent, evaluates the product or service until actually purchasing it.

 

Knowing The Customer Persona

In this case, we try to study the customer persona in order to get the maximum return-on-investment from the outbound marketing campaign. Knowing the customer’s persona enables us to gain a deeper insight into what they’ll actually love to have.

 

Having such deep insight helps us to personalize our outbound marketing campaign, thus bringing high effectivity and return-on-investment from the campaigns.

Prospecting and looking for potential clients

Prospecting

After knowing what kind of customers the business wants to serve and what the customer personas are, we can start finding out potential prospects. In prospecting, we try to find out people who are most likely to try out the product or service.

 

How do we find out who’ll be interested in our product or service?

 

To be honest, this process is the most challenging process of the total outbound marketing. Ensuring you get a healthy prospect list will help you get the most return-on-investment.

 

For this reason, we try to target people in accordance with the customer personas, location, the industry they operate in and the employee within the company.

 

Let’s say that your company provides software solutions for medicines retail shops worldwide. How would you define your prospects? Obviously the medical shop owners, co-owners or managers, right?

 

We manually target specific locations, employees working within the medical shop and the position of the person you want to target. This enables us to have an excellently personalized set of lists for the next step – emailing!

What is cold emailing and how does it help outbound marketing

Cold Emailing

Once we have a list of prospects, we can start emailing our prospects. In this case, we ensure that we’re giving highly specific and personalized emails to our prospects. Study shows, personalized subjects lines tend to have a 17% reply rate than the ones with little or no personalization.

 

Also, we keep the email short but specific with definitive call-to-actions. This provokes the prospect to take action.

 

Now, cold emailing may have different motives – you may want the customer to visit your website, or you may want them to reply to your mail. We take note of what your business requires and design the cold emailing in according to your demands.

 

Lead Nurturing

Lead nurturing is the final process in the total outbound marketing process. Once the prospect gets the email and shows interest (by emailing or by visiting the website), we start our lead nurturing process. Here, you may follow up the lead with emails regarding the product or service or trying to know what they want from you.

 

Lead nurturing can be a very important strategy if you want to provide your customer with superior customer service.

 

The lead nurturing process may also include closing deals, suggesting other products and many other promotional contents.

 

What Outbound Marketing Can Deliver

Up until now, we’ve touched down with the overview of how we, at BlueFlower Media, perform the outbound marketing campaigns. But, what’s the point of outbound marketing? How can outbound marketing help your business? Is outbound marketing worth it?

 

We know understanding outbound marketing can be quite tough, mainly because it’s a new type of marketing campaign. Yet, it offers a wide range of benefits, unlike any other marketing strategies! Let’s have a look into what outbound marketing can truly deliver!

 

High ROI

Yes, you’ve read it right! Email marketing shows the highest return-on-investment than any other marketing campaigns! Email marketing outperforms affiliate marketing, paid searches (PPC), display ads and even organic SEO marketing!

 

In one source, it was said that email marketing brings about $38 for every $1 spend. This indicates a return-on-investment of 3,800%!

 

Why is the ROI for outbound marketing so high? It’s very simple; you’re just purchasing the lists of your prospects, and you’ll be bulk emailing. This means that you’re saving time and effort.

 

Also, emailing ensures that you’re reaching your prospects with higher effective attitude. It’s not like a social media ad which pops up even if you don’t want to purchase the product/service. Basically, it’s like a personal connection that you’re creating with the prospect. This encourages them to be turned into leads and then paying customers.

 

Faster Conversions

While you’re advertising in social media or any other platforms, you’re never sure when they’ll be interested in knowing more about your product. For emails, you are sure that these are sent and received by your prospects. Most people tend to reply to emails if they’re important, and if your value proposition seems valuable your customers will surely reply!

 

Also, you’ll be sending the emails to a number of people who’ll be interested in your product/service. This indicates that you’ll have faster conversions within a given time along with high return-on-investment!

 

Minimal Customer Acquisition Costs

The customer acquisition cost (CAC) is the cost of acquiring one new customer. This is calculated by the total marketing expenses spent divided by the number of paying customers acquired during the time period in which the money was spent.

 

For outbound marketing, the customer acquisition costs are far lower than the other marketing strategies. The prime reason for this is because you’ll only be spending on the prospect lists and email sending, there are no additional costs.

 

Moreover, you’ll be explicitly targeting potential prospects. It indicates that you’re wasting very little, explaining the high return-on-investment. The customer acquisition costs negatively affect the ROI. This means that the lower customer acquisition costs you incur, the higher ROI you’ll be getting!

 

Interesting, right? It surely is to us!

What is personalized approach and why is it important for outbound marketing and cold emailing during prospecting
                          Image Credit: WoodPecker.co

Personalized Approach

As we’re writing a highly personalized cold emailing copy, we are sure that the customer will have an affection towards the product/service. It also means that even if they show no interest in the first or second email, they will surely reply in the following emails.

 

Also, the people getting personal emails show a higher chance of returning to the website indicating that your customer retention costs are reduced.

 

Also Read: What’s The True Power Of SEO?

Final Thoughts

Outbound marketing can be an effective marketing strategy for small and medium businesses. The high ROI, faster conversions, minimal customer acquisition costs, and highly personalized approach truly makes outbound marketing a highly effective marketing strategy.

 

Why It Is Difficult

Up until now, you may think that outbound marketing is easy. However, it’s not as easy as it seems.

 

In fact, it is far more complicated than it sounds! There a variety of metrics that go into successful outbound marketing campaigns; it is never predictable of how the consumers will behave. However, we can create a sales funnel with which we can draw out a probable behavior depending on the consumer’s personas and lead them to our end goal.

 

Creating A Strategy

The effectivity of outbound marketing can depend on the list of prospects. For businesses, knowing the exact customer persona and designing a thoughtful sales funnel enables us to identify the prospects to target. To do this, we find out which industry, location, and type of company the business wants to target, and then we find out the potential prospects for higher ROI of the outbound marketing campaign.

 

Next, we create a strategy where we create a cold emailing template for the prospect list and discuss how we’ll be contacting with the prospects and how we turn them into leads. Once they’re converted into leads, we also suggest a thoughtful process of customer relationship management that fits with the business.

 

Why Work With Us?

Let’s be honest – bringing the maximum ROI from outbound marketing can be considerably tricky. There’s a lot of metrics that you need to handle, and it can be quite challenging to master. There’s the minimal scope of mistakes that you can make; you’ll be dealing with real people! This is why you wouldn’t want to create a negative impression!

 

This is why you should work with us regarding your Outbound Marketing and other Digital Marketing campaigns. You can contact us regarding your business solution or book an appointment with our project manager.

 

Other than that, you can visit our blogs to get more insights into digital marketing! That’s all for now!

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