The stages of the sales funnel for outbound sales are identical to those for inbound sales. However, it works a little bit differently with awareness and discovery:
First, it may take a significant amount of time to find prospects that fit your product or service. Reps also have to tailor their sales pitches specifically for each one to ensure they address unique pain points and needs. In part because of this, outbound sales usually involves longer sales cycles.
for brands that have:
New and innovative products and services that are newly on the market and require some explanation
Niche products that target customers may not know they need
The disadvantage to inbound sales is that it takes a lot of initial effort to get the word out about your business. However, you’re able to make sure the prospective customers you’re targeting are likelier to buy because you’re doing the research to find them.
Can inbound and outbound sales be combined?
Yes, you can combine inbound and outbound sales. For example, many america phone number list companies have content marketing efforts, like a company blog, that’s consistently updated with useful information relating to your products or services. That’s an inbound sales tactic that pulls in leads who engage with the post. This can be supplemented with rep efforts at outbound sales; they add leads to the pipeline by researching good-fit prospects on social media and contacting them to see if they’re interested in learning more about the company’s products.
4 questions to consider when choosing inbound vs. outbound sales
When trying to decide whether inbound, outbound, or some combination of both sales strategies are right for your business, here are some questions to ask yourself:
1. How hard is it to explain your products or services? To put it differently, if you have a straightforward, easy-to-understand offering, you can probably use inbound sales. A well-thought-out marketing campaign can convey your product’s value. But if it’s more complex, outbound sales may be a better choice. Outbound sales allows your team to thoroughly explain and show the benefits of your products or services to prospective customers via meetings, calls, and email interactions.
2. What are your margins? If your average sale value is low, you may not want to spend resources on outbound sales. If your products or services have a longer average lifetime value for customers, it might be worth the investment.
3. How large is your target audience? Outbound sales often works well with a smaller pool of potential buyers. With fewer prospects, your team can tailor and personalize pitches to potential customers. If you have a huge potential audience, try inbound sales. This is where a big marketing budget can have a big payoff.
4. Do you offer impulse buys or big-ticket items? For fun, impulsive purchases, social media marketing can make buyers say, “Take my money!” and lead to lots of inbound sales — no cold calling required. Outbound sales are usually associated with higher-cost B2B sales.
Inbound vs. outbound sales: two approaches to closing the deal
With inbound sales, potential buyers will seek out your business organically. Once they find you, it’s up to your sales team to turn them from prospects to customers. Outbound sales may require more initial legwork from your sales team, but with some patience and skill, their efforts will pay off. While the approaches may differ, both inbound and outbound sales play an important role in driving revenue for your business.