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Top Reasons Why Outbound Marketing is Still Applicable?

Outbound Marketing
Many marketers believe that inbound marketing supersedes outbound marketing and assists in attracting audiences; however, it is not entirely true.

Outbound marketing is advantageous in getting hold of potential customers to promote your products or services.

Let’s look at how outbound marketing is still relevant and beneficial in 2022.

Relevance of Outbound Marketing in 2022

Outbound marketing assists in generating demand for your product by reaching a maximum number of people. It is considered one of the best marketing mediums to institute excellent credibility in a moderately new market.

Marketing strategists believe it plays a crucial role in delivering a universal message to your target audience and making them aware of your product or service.

Advantage of Outbound Marketing

Here are the significant advantages of implementing outbound marketing that can help in elevating your business to the next level.

  • Outbound marketing tactics deliver your messages to the target audience you want to see them. The targeting options for PPC have been enhanced. You can select a wide range of demographic or interest-based areas to be more precise in how your ads are served.
  • One of the most significant benefits of utilizing outbound marketing is to reach a larger audience. The audience could be unaware of your brand or products, but it allows them to know more about your brand.
  • By creating an effective strategy for your outbound marketing, you can find qualified leads.
  • A well-planned outbound marketing strategy supports your inbound marketing.
  • Outbound marketing helps reduce your in-house staff.
  • It provides immediate results as compared to inbound marketing.
  • You don’t need to produce new material frequently to promote your products as we do in inbound marketing.
  • You can recycle or reutilize your promotional material.
  • With outbound marketing, you can easily measure the marketing process. Various CRM tools assist in observing the qualitative aspect of the process.


For What Kind of Customers Do Marketers Use Outbound Marketing?

Marketers believe that the possibility increases if the customers are older. It can easily influence them to take action. Those consumers are incredibly comfortable with radio ads, television, flyers when they are ready to buy.  

How to Implement Successful Outbound Marketing?

Plenty of businesses consider outbound marketing as one of the best and result-driven marketing tactics, but they face various challenges while implementing.

Let's understand how to create a holistic, balanced, and persuasive outbound marketing tactic that can help you accomplish business objectives.

Keep Thorough Information about Your Audience

One of the essential steps of developing an outbound marketing strategy is to keep thorough information about your audience. You need to understand their requirements, purchasing behavior, demographics, likes and dislikes, hobbies, and channels where you can connect with them.

Competitive Analysis

In outbound marketing, competitive analysis is crucial as it enables you to understand your competitor’s strategy in context to sales, products, marketing, researching & planning.  In addition, knowing about your competitors can strategize your marketing approach and stand out amongst the competitors.

Create Relevant, Specific, and On-Time Messages

While crafting your message, you must ensure that the audience doesn't regret their decision.

You have to create specific and relevant messages for your target audience that match their requirements. Try to connect with them as per their convenient time via call, segment your audience, and maintain the message's tone, voice, and language.

Execution of CRM Application

Different businesses face different challenges while creating outbound marketing strategies. One of the biggest challenges in front of the companies is tracking leads, prospects, and customers. CRM software applications are highly advantageous in organizing sales activities, building a call automation feature, and managing the sales process from a single interface.


Construction Outbound Content Distribution Channels

Constructing an outbound content distribution channel, makes your content marketing approach more effective and result-driven. It includes a consistent approach to your audience when the content is ready.

It reduces your campaign cost and enhances ROI. In addition, you can save time and receive maximum conversion by making your target audience aware of your product or service.


Choose Right Channel to Connect With Your Audience

Multiple channels of outbound marketing can utilize for your business as per your requirements, such as direct mail, cold call, banner, hoardings, paid search, etc. but choosing the right platform is the most significant step. First, you need to research which platforms perform nicely and give positive results.

You can allocate your budget accordingly and implement those channels for business objectives.


The Most and the Least Effective Outbound Marketing Tactics

There are various outbound marketing tactics such as television and radio commercial, telemarketing, direct mail, print ads, sales letters, brochures, etc.

According to the Databox survey, cold email outreach is the most effective outbound marketing strategy, and the least effective is print ads.

The survey's maximum number of respondents voted for these outbound marketing tactics that you can incorporate in your marketing strategy to gain profits. 


Direct Mail

Whenever a customer receives a mail with his name, it makes them content. Direct mail is a practical approach to outbound marketing. According to neuromarketing, direct mail is more impactful than online ads. It is the most helpful medium to grab the attention and present your brand.

You can make your direct email marketing more effective by creating creative email copy, providing them offers or discounts, segmenting your audience based on their purchasing behavior, demographics, and so on.


Smart – An Effective Approach with Direct Mail

One of the renowned brands, Smart, environmentally friendly transport solutions, came up with a brilliant idea to send direct mails to their target customers advertising its new range of environmentally-friendly e-bikes.

  • The brand quickly grabs audiences’ attention as the environment is one of the biggest concerns.
  • In their campaign, they introduced a helmet made from recycled cardboard. It encouraged people to buy their products.


Search Ads

Marketers consider search ads highly advantageous for success.  Investing in paid search, allows your brand to be present on SERPs instantly. In addition, it builds trust among your target audience and enhances the possibility of traffic.

It will help if you are more specific about your business goal, campaign goal, and so on.

Cold Call

 

Whatever it is you are calling about, you must do it with integrity and honesty.
The way to be an excellent cold-caller is to care about what you're talking about...”

Simone Laraway, Author of the Holistic Guide to Cold-Calling & Founder of the Vocal Bureau


Cold calling is one the most effective marketing mediums that allow brands to reach new customers, enhance sales pitches, and enable sales representatives to work independently, from anywhere. Additionally, you can make robust connections with your audience and turn them into long-term customers.

For making your cold calling strategy more influential, follow these tips.

  • It would be best to make an appointment with your prospects to discuss your offers, products, or services.
  • Make your calling script ready. It will assist you in communicating better and allow you to present your brand optimistically too.
  • Knowing your prospects and their requirements thoroughly makes your strategy more persuasive.


Trade Shows and Conferences

The value of person-to-person networking is the utmost critical marketing approach, where you make robust connections with your audience. You can influence your potential customers by being more presentable through your communication, and competitive analysis.

Collecting data, using advanced technologies, setting on a reasonable time frame, researching your audience, allocating budget, and distributing tasks to the teammates will help make your trade shows successful.


Statistics around Outbound Marketing

Here are some vital statistics that will give outbound marketing a deep understanding. 

  • According to Hubspot, approximately 62% of businesses believe their outbound marketing efforts are result-driven.
  • Nearly 70% of sales executives generate meetings over the call, as reported by Rain Group.
  • As stated in the Crunchbase report, 57% of C-level prospects prefer calling to get contacted.
  • According to CallHippo, persistent calling helps sales representatives increase the conversion rate up to 70%.
  • As per a Crunchbase report, brands that don’t implement cold calling experience 42% less growth than those that do.
  • According to PWC, trade shows are the second-largest source of B2B revenue in the US.
  • Rain Group reports that over 62% of prospects prefer to hear the solutions from the sales executives.
  • According to Fundera, 70% of consumers say direct mail is more personal than online interactions. It also says that the open rates of direct mail can reach up to 90%.
  • As reported by Exhibitor, 93% of marketers consider trade shows an effective marketing tool.

These statistics are one of the great examples as they still exist. Undoubtedly, many businesses invest in inbound marketing, but as you can see, outbound marketing is very much alive and assists different industries in driving positive ROI.

Apart from generating leads, outbound marketing allows businesses to develop their marketing strategies and take them to the next level.


Difference between Inbound Marketing and Outbound Marketing

Here are the differences between inbound marketing and outbound marketing.
 
Inbound Marketing Outbound Marketing
Inbound marketing has passive engagement, where you wait for the leads you want to connect. Outbound marketing has active engagement. It allows you to initiate the interaction.
It is challenging to measure return on investment(ROI) Can measure Return on Investment(ROI)
It enables two-way communication. The audience can easily interact with the brand. Outbound marketing is one-way communication. It has a mass-communication model.
Inbound marketing is based on users, which helps them solve their queries, interests, etc. Outbound marketing messages are brand-focused. It highlights the brand.
Inbound marketing channels are SEO, keywords targeting, social media, etc. Outbound marketing channels are cold emails, newspapers, magazines, events, cold calling, etc.
Digital analytic tools can analyze marketing strategies. In outbound marketing, it is incalculable.

Final Thoughts

Outbound marketing still exists worldwide. But, in this competitive world, the need of the hour helps businesses grow.

The above-explained methods and aspects of outbound marketing can assist in reaching your target audience and accomplishing your business goals.


Frequently Asked Questions


Is outbound marketing effective?

Yes, indeed, outbound marketing is still alive and assists businesses in achieving innumerable business outcomes.


What are some examples of outbound channels?

Cold emails, cold calling, trade shows, events, paid search, magazines, newspapers, etc., are great examples of outbound marketing channels.


How to implement successful outbound marketing strategies?

By knowing holistically about your offerings, audience, competitors, implementing result-driven CRM software, you can implement successful outbound marketing strategies.

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Vendavo Drives Strong Growth in 2023 with AI-Powered Product Innovations and Partner Program

PR Newswire | January 12, 2024

Vendavo, the global market leader in B2B pricing, selling and rebate solutions announced a strong 2023 finish today, noting a 12% growth in annual recurring revenue and 43% growth in higher margin recurring services. "As economic uncertainty persisted through 2023, global organizations increased investments in AI-driven technology to drive profitable growth, placing their trust in Vendavo," said Alex Hoff, Chief Product Officer, Vendavo. "While many predict stronger economies in 2024, manufacturers and distributors face a growing demand for agility in pricing, channel incentives, and commercial processes. We take pride in enabling significant revenue and margin growth for our customers." Vendavo's products and services enabled a 1.5% margin increase for customers in 2023 through improved pricing over cost. On average, customers achieved $27 million benefit from price improvement. To offer more features to customers, Vendavo's product investment increased by 21% in 2023. New AI product innovations have set the stage for smarter, more efficient commercial processes for customers. A new AI fueled Price Sensitivity metric was added to Vendavo Deal Price Optimizer, a solution that maximizes revenue and profitability through a better understanding of customers' willingness to pay. AI algorithms allow for more in-depth segmentation and analyses that deliver more precise sales guidance. AI now powers timely pattern detection for Price/Volume/Mix analyses in Vendavo Margin Bridge Analyzer. Ranked a Strong Performer in the 2023 Forrester Wave™ for CPQ, Vendavo Intelligent CPQ now has new pricing capabilities within the solution's agreement's function. Sales teams can incorporate more accurate pricing from the onset for even the most complex quotes. Vendavo Pricepoint, the flagship solution for B2B price management, improved both pricing calculation speed and performance. Vendavo's commitment to growing its partner ecosystem led to a doubling of partner-originated pipeline year over year. Notably, Vendavo's existing partnership with Oracle significantly expanded with the creation of new rebate and channel management incentives and the addition of support staff. In response to increasing market demand for rebate and channel management solutions, and following the 2022 acquisition of Market Medium, Vendavo integrated Rebate & Channel Manager into their suite of growth and profitability products. Many customers now effectively manage their rebate programs with the solution. About Vendavo Vendavo empowers global manufacturers and distributors to accelerate growth and profitability with leading pricing, selling, and rebate management solutions. Companies like Emerson, Medtronic, and GAF rely on Vendavo to manage, optimize, and digitize their end-to-end commercial processes. Vendavo's solutions, team of pricing and selling experts, and proven process accelerates value and outcomes that are not only predictable, but unrivaled. With Vendavo, the world's most ambitious B2B organizations can develop dynamic customer insights and execute optimal pricing strategies that maximize margin, boost sales effectiveness, and improve the customer experience.

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