If you want to create a good retail product marketing strategy, you need outbound marketing. This type allows a company to reach its target audience through social media and other content options.
While important to utilize, understanding what it is can be tricky. There are so many elements to it that it can overwhelm some businesses. It’s also easy sometimes to go overboard with certain tactics which can actually deter some customers.
Below you’ll discover more about this marketing type and why so many rely on it. You’ll also discover some useful ways to incorporate it into your retail marketing strategy.
Benefits of Outbound Marketing
You’ll find that outbound marketing is excellent to use for many reasons. Some of these include:
- Increasing your base,
- Getting faster marketing results,
- Being an easier marketing form to use,
- It tends to attract more attention and build brand awareness.
Overall, outbound marketing is ideal for those who want something simple to expand their base. As time goes on, the more you work on it, the more effective you’ll see it be.
Are There Downsides to It?
While there are plenty of perks to outbound marketing, the one thing to keep in mind is that it can be a little pricey.
Outbound marketing requires a lot of time and financial investment. Because you must keep putting funds into ads (whether physical or digital), it can eventually add up. This could lead to your return on investment (ROI) being slightly smaller than you hoped.
If you wish to use outbound marketing, make sure to have set funds in place. You can then monitor them better. It also prevents you from overspending on tactics that might not work well.
How is it Different from Inbound Marketing?
As you research marketing types, you’ll likely come across inbound marketing. This is the opposite of what outbound is.
Unlike outbound, inbound methods create a more personalized experience. It focuses more on your current customers and tries to retain them. This could be through catchy social media ads or high-quality blog posts that relate to your customers.
If you want to focus on current customers, you will use inbound marketing. If you want to grow your base and draw new ones in, you will look at outbound marketing.
5 Outbound Marketing Tactics
1. Do Cold Calls and Emails
These options might make some businesses nervous, but they can be useful. Cold calls or emails require you to reach out to specific businesses or people. Because they won’t necessarily expect this, you only have a few seconds to show why they need to listen.
Once you gain their interest, you then have the opportunity to build on that. You can tell them why your brand is worth partnering with or investing in. They can then make a decision based on that.
There are a few things to remember though before doing this. One is to always deeply research businesses or people before you try a call or email. You don’t want to waste time contacting people who obviously wouldn’t be interested.
Apart from this, think about which might be ideal for your situation. Cold emails are easier and faster, but not always personable. Cold calls can be a little nerve-wracking as you have to think quickly in the moment. However, they give you a better idea of the person and how to adjust the message.
Tips for a Cold Call
- Write a quick script of what you want to say. You can use this to guide the conversation.
- Remember to have a conversation. The call should be personable and put the other at ease.
- Get straight to the point. Within the first 30 seconds, you need to have clearly told your message.
Tips for a Cold Email
- Make sure to write the email in a friendly and personable way. Always include the person’s or business’s name.
- Don’t go overboard. Write short clear sentences that get to the point.
- Thank them for their time. This shows appreciation for them opening the email and reading to the end.
2. Use Social Media
One of the best outbound marketing tools today is social media. Better yet, most platforms are free. However, some do have special insight features you can pay for if you think this is worth it.
Social media helps you reach your target base and even those who might not initially be interested. You can post catchy photos and videos to attract people.
Through outbound marketing, though, you’re looking to specifically reach those who aren’t your target audience. You should be willing to reach out to those who you want to interest. But remember that they might not act on that. It’s an investment but one that can pay off if you’re consistent.
Keep in mind that you need to update your social media constantly. While you shouldn’t spam users, make sure to post at least daily. Always interact with followers too. If someone leaves you a comment or message, take time to respond. This shows you’re an active page and appreciate user activity.
And remember, always monitor where you get the most engagement. If you find it’s through Instagram, focus your attention on that rather than another platform.
3. Try Pay-Per-Click Ads
Pay-per-click (PPC) ads are a great way to boost your brand’s image. As its name suggests, each time someone clicks on the ad, the search engine or site is paid. While this might seem pricey, the investment pays off. This is because it encourages quality leads, which are more likely to convert into sales.
When contemplating a PPC campaign, you need to figure out your maximum bid. This shows how much you want to pay for each click. To find the right amount, take your average order rate and multiply it by your conversion rate. Then, divide it by your advertising cost of sales.
4. Rely on Ad Retargeting
This helps refocus digital ads back to people who might have at one point clicked on them. You can keep targeting the user with these messages to gain their interest. It usually reminds them of the product or service they viewed, or if they still have something in their cart.
This tactic is particularly good for online retail shops. It alerts customers without being pushy. Often, it’s welcomed because some might be interested but have forgotten about it. One way ad retargeting works is by sending notices through email, social media, or even website banners.
To further intrigue them, consider a discount code. This will often attract them more and could lead to a substantial sale.
5. Visit Trade Shows
One unique outbound marketing tactic is to travel to trade shows. These don’t have to specifically focus on your industry, but should be relevant to those at the event.
In most cases, visitors will be there to look for something distinctive or that can make their lives easier. At trade shows, you have the chance to talk one-on-one with people – even those who aren’t your target base. This gives you the opportunity to convert them.
Outbound marketing is a great way to reach new customers. Not only does it build brand awareness, but it helps show off your company’s personality. This makes it ideal for any business to implement if they want to grow.
For more information, please refer to the following pages:
- Guide for Retail Product Marketing With SEO
- How to Make Money in Retail With Social Media Marketing
- How to Create a Data-Driven Retail Product Marketing Strategy
- How to Use Inbound Marketing in Retail Product Marketing Strategy?
- Retail Product Marketing Strategy & Account Based Marketing
- How to Market Your Product Locally
- Why Solid Product Design Is Important for Marketing