Today’s franchise businesses now have two marketing paths they can follow: inbound marketing and outbound marketing.
So what’s the difference? Outbound is the traditional marketing model where franchise businesses go out to find franchise leads using commercials, radio ads, flyers, newspaper advertisements, etc. Inbound marketing – on the other hand – uses website content, social media, blogging and search engine optimization to bring in franchise leads.
In one respect, outbound marketing seeks to buy a person’s attention with a hard sell, which can produce negative reactions among its target audiences. Inbound marketing earns a person’s attention and can produce positive responses and draw in higher quality franchise leads.
Now that we know the differences between these two marketing strategies, here are a few reasons why inbound marketing may be the better choice for your franchise business.
High Return on Investment (ROI)
Inbound marketing is 62% cheaper per lead than most outbound marketing options. Also, 3 out of 4 inbound marketing channels have a lower price than any outbound channel. For example, 55% of blogging businesses claimed these leads had a below-average cost while only 36% of telemarketing companies could say the same. Almost half of trade shows reported an above-average cost per lead, while 13% of social media–using companies found their cost-per leads higher than normal.
Outbound marketing can only provide one-way communication – a business talking at its potential leads. For example, a billboard or a TV commercial articulates what the business wants to communicate to the audience, however, the audience isn’t provided an opportunity to respond.
This is not the case with inbound marketing. Social media posts and blogs can foster real conversations; a franchise business expresses an idea and the audience answers through comments, shares, likes, and dislikes. It’s interactive rather than static.
Smartphones enable us to screen and avoid telemarketers, and since the option to record TV shows is available, commercials are simply skipped over. Also, 91% of email users unsubscribe from brand emails they once requested to receive. Even website ads that pop up on websites can hurt you more than help you – surveys among 25- to 34-year-olds have shown that for 84% of them pop up ads were the sole reason they left a website.
Inbound marketing typically relies on white papers, e-books, podcasts, blogs, videos and info graphics. Most prospects find these methods engaging, non-intrusive, and informative.
The Take-Home Message for Your Franchise Business?
Targeting audiences with outbound advertising is no longer the go-to choice for franchise businesses. If you want your franchise business to generate more leads and sell more franchises, you need to earn the trust of your franchise prospects with the more effective marketing choice – inbound marketing.
ARE YOU LOOKING TO GENERATE NEW CONTENT FOR YOUR FRANCHISE BUSINESS?