Tuesday, December 2, 2008

Inbound Marketing

If you have any responsibility over your company's marketing efforts or better marketing expenses, then you most likely are living in a new world where budgets have been slashed and customers have gone scarce. Over the last decade, outbound marketing (advertising, TV, radio, online sponsorships, cold calling, trade shows, even email blast) has been the common approach for targeting audiences. But with a tidal wave of media being forced on customers and their attention spans, inbound marketing has taken root as consumer preference and continues to shift the way we seek information and decide on purchases.

Inbound marketing consists of media and mediums that consumers use and in turn, chose which messages and companies they wish to know more about. For example, instead of interrupting people with TV ads, videos are created and spread virally to only those engaged and willing to participate with the social media. Other examples of Inbound Marketing are: blogs, white papers, SEO, webinars, and RSS feeds.

Although inbound marketing should not necessarily replace outbound marketing, if not practiced as part of an overall marketing strategy, companies will lose out to competitors that embrace it. Social media is here to stay and with lower costs and better targeting than outbound, even the smallest player can compete with the biggest bully in the market.