Outbound marketing is essential to a successful marketing strategy for B2B companies. In a world where inbound marketing and social media dominate, don’t underestimate the power of outbound marketing tactics. Outbound marketing involves actively reaching out to potential customers through cold calling, direct mail, trade shows, and email marketing. On the other hand, inbound marketing typically involves things like marketing campaigns, content marketing, SEO and account-based marketing.
Outbound marketing aims to generate leads, increase brand awareness, and ultimately drive sales. In B2B marketing, decision-makers are often more receptive to outbound tactics tailored to their specific pain points. Outbound is also more direct, and can feel like using a sniper instead of a shotgun. You can use it in conjunction with inbound marketing. For example, creating customized landing pages is important for search engines and cold emails.
This article will cover a few outbound marketing strategies to help you achieve your goals.
Cold Calling
Despite the rise of digital marketing, cold calling remains an effective way to reach decision-makers and generate leads for B2B companies. While typically done by the sales team, in some organizations cold calling is considered part of marketing activities. Why is it at the top of our list? Because it’s highly effective for B2B lead generation. A study by InsideSales found that cold calling is still one of the most successful methods for getting potential customers, with a conversion rate of 2.5%. This figure compares favorably against direct mail (1%) and trade shows (0.5%).
The key to cold calling success is having a clear understanding of your target audience and a solid script in place. A study by Hubspot found that salespeople who prepare and personalize their pitches had a much higher success rate than those who were more rehearsed. Additionally, having a clear call to action and following up with potential customers can increase the chances of closing a sale.
It’s important to note that cold calling can be time-consuming and requires a lot of effort. However, the results can be well worth it for companies looking to generate high-quality leads. If you plan on investing in this, a CRM can be a great investment. CRMs like Salesforce can help manage contacts and automate follow-ups. This way, your marketing team can optimize your efforts and track progress through the sales funnel.
Direct Mail
Talk about old school! Direct mail is one of the oldest outreach methods available. It’s a physical form of outbound marketing that involves sending promotional materials, such as flyers, brochures, or catalogs, to a targeted list of potential customers. Direct mail is highly targeted, allowing B2B companies to focus their marketing efforts on their ideal customer profiles. One advantage of direct mail is that it’s often very easy to find mailing addresses for your potential clients.
One of the main benefits of direct mail is that it can generate a much higher response rate compared to digital methods, such as email or online ads. A study by the Direct Marketing Association found that the average response rate for direct mail is 3.7%, while the response rate for email is just 0.12%. This means that direct mail can be a highly effective way to generate leads and drive sales for B2B companies.
However, it’s important to note that direct mail can also be more expensive compared to other methods, such as email or social media. Additionally, it can take longer to see results from a direct mail campaign, as it takes time for the mail to reach its intended audience.
To make the most of a direct mail campaign, B2B companies should focus on creating content for their target audience that is difficult to replicate online. Things like case studies, testimonials, and whitepapers may not translate well in physical format. Including a clear call to action is also difficult.
For these reasons, the recommendation is to use direct mail as a bottom-of-funnel strategy. Brex, for example, sent bottles of champagne to key decision-makers. Combined with a killer inbound marketing strategy, this campaign worked wonders for their demographic.
Trade Shows
Trade shows are a popular method of outbound marketing that involve exhibiting products or services at a large industry event. Trade shows can be a powerful way for B2B companies to generate leads, build brand awareness, and network with potential customers and influencers.
At a trade show, you have the opportunity to meet face-to-face with potential customers and showcase your product in a tangible way. At the end of the day, we are social creatures and in-person interactions can be highly impactful.
However, trade shows can also be expensive, with costs including booth space, travel expenses, and marketing materials. It’s important to carefully consider the cost-benefit of attending a trade show and ensure that you are targeting the right events and audience.
To optimize your trade show efforts, focus on creating an engaging and memorable booth experience. This could include using interactive displays, demonstrations, or video presentations to showcase their products or services. Ultimately, whether your efforts are worth it depends on the average deal size. If you can land multiple six or seven-figure deals with potential customers, the ROI might make sense
Email Marketing
Email marketing is a highly underrated form of traditional marketing. Historically, it has been a very cost-effective way to reach a large number of people.
The main benefit of email marketing is that it allows companies to build and maintain relationships with potential customers. By sending relevant and valuable content, you can position yourself as a thought leader and establish trust with your target audience. A study by the Data & Marketing Association found that the average return on investment for email marketing is $38 for every $1 spent, making it extremely cost-effective.
However, it’s important for companies to ensure that their email marketing efforts are compliant with email regulations, such as the CAN-SPAM Act in the US. Additionally, companies need to be careful not to send too many emails or risk annoying their subscribers, which can harm their brand and lead to unsubscribes.
LinkedIn is a professional social network that has become a valuable tool for B2B companies looking to reach decision-makers. LinkedIn is particularly useful for B2B companies looking to reach senior-level buyer personas.
To make the most of LinkedIn, B2B companies should focus on building a strong profile that showcases their brand, expertise, and services. This could include creating a company page, writing articles or posts, or sharing industry news and insights. By actively engaging with potential customers and providing valuable content, companies can establish themselves as thought leaders and build relationships with their target audience.
Additionally, B2B companies can use LinkedIn’s advertising tools, such as sponsored content or sponsored InMail, to reach a wider audience.
Webinars and events
Webinars allow you to reach a large number of people in a virtual setting. Webinars also provide you with the opportunity to interact with customers in real time without getting on a plane. Hosting in-person events, such as trade shows or conferences, allow companies to connect with potential customers in person and build relationships. While often lumped together, there are many differences between webinars and events. Webinars are generally lower lift to execute. All you really need is a software platform like Welcome or Zoom webinar. Because everything is virtual, you can run webinars more frequently. Thus, it can be a key staple of your sales cycle. In contrast, events take much longer to set up and are very logistically complex. You have to worry about flights, hotels, venues, menus, and a myriad of other things.
Conclusion
In conclusion, a well-rounded marketing strategy should include both inbound and outbound marketing tactics. While outbound marketing can be a slog, you can often get quicker results for your B2B sales team. New automation tools like Outreach also allow you to be more efficient. While there are many B2B outbound marketing strategies out there, the methodology that you choose will largely depend on the buyer’s journey you want to create for your customers.
