Inbound Sales vs Outbound Sales
As you may or may not already know, I specialize solely in closing Inbound High Ticket Offers.
Today, I am going to discuss a controversial topic:
Outbound Sales or Inbound Sales?
Cold-Calling or Scheduled Calls?
Door-to-Door knocking or Appointment Setting?
Either option is viable really, but in this modern day and age, I will argue that Inbound Sales will soon topple Outbound Sales techniques like Cold-Calling and Door-to-Door as the new King of the Jungle.
What are Inbound Sales?
Inbound Sales, in a nutshell, is having already interested prospects come to you.
Instead of traditional methods of cold-calling or pushy sales tactics that target any living, breathing thing (that honestly just generates pissed-off and disinterested prospects), we target prospects that have already declared an interest in our products/services.
In fact, these interested prospects would go as far as to book a call, setting aside personal time for an appointment and giving their 100% during that call.
Doesn’t that sound wonderful?
Imagine your chances of closing a prospect who set aside time off for your call, being fully focused with a notepad and paper (and wallet close-by) versus a ‘prospect’ that just got caught walking on a busy street with a cold-call.
Let me give you some statistics here, courtesy of the Hubspot State of Inbound 2017:
Inbound marketers believe in their efforts more than outbound marketers. 68% of inbound marketers and only 48% of outbound marketers classify their marketing efforts as “effective.” What’s more is that 52% of outbound marketers say their marketing efforts are “ineffective” (only 32% of inbound marketers report that).
Inbound gives higher ROI. 46% of marketers reported that inbound marketing gave a higher ROI, while only 12% reported outbound did. However, 41% of respondents could not answer or do not know — making a case for better measurement in marketing.
Inbound produces higher quality leads for sales. When asked which marketing tactic provides higher quality leads for the sales team, 59% of marketers responded inbound, and 16% reported outbound. (Self-sourced leads account for 26%.)
Inbound lead generation has improved over the past year. When asked which marketing tactic provides higher quality leads for the sales team in 2015, 52% said inbound marketing. In 2016, that number grew to 59%, showing an increase in the success of inbound marketing. In terms of outbound, in both 2015 and 2015, 16% of respondents said outbound marketing tactics produced those leads, showing outbound marketing is not growing
Companies that published over 16 blog posts per month received roughly 3.5x more traffic than companies that published 0-4 blogs per month.
B2B companies that blogged over 11 times per month received 3X more traffic than B2B companies that blogged 0-1 time per month.
47% of buyers view 3-5 pieces of the company’s content before talking with a sales representative.
96% of B2B buyers want content that has input from industry thought leaders.
80% of companies not meeting their revenue goals receive 10,000 monthly website visitors or less.
I do want to add a CAVEAT here, Inbound Sales would most likely only make sense for companies providing a High Ticket Offer. I define High Ticket Offer as anything that is a $2,000 price point or higher.
Traditional, outbound techniques would still be more profitable if you calculate the numbers for Low Ticket Offers. There just simply isn’t enough profit margins to go around, more to follow in another article.
Why are companies still utilizing outbound techniques?
They are selling Low Ticket Offers. Profit margins just don’t make sense. Think marketing, funnels, commissions for High Ticket Sales People/Closers.
They just DON’T KNOW.
They’ve never heard of Inbound Sales.
They don’t know how to implement Inbound Sales (more to follow in another blog post).
This one is unfortunate, they’ve heard of Inbound techniques but they just fear change. As you’ve heard the proverbial saying, “you can’t teach an old dog new tricks”.
Example: Outbound sales currently work decently for them, however, inbound sales would provide better results and profits to their bottom-line; sadly they just fear the risk of change.
Why are Inbound Sales more effective than Outbound Sales?
Humans beings make purchases based on emotions, then JUSTIFY it with logic. In order for them to feel an emotional need to buy, a human, another live soul, could create that urgency by closing them over the phone.
When you have an Inbound Sales scenario, the High Ticket Closer/Salesperson is purposefully placed at the end of the sales funnel where potential prospects would be able to book and schedule a free consultation call with the said Closer.
Highly trained and skilled in the art of influence and persuasion, this High Ticket Closer helps prospects connect with their vision and goals, and helps them to make a commitment to invest in themselves, by purchasing these High Ticket products or services.
Closers operate in a similar fashion to doctors and psychologists; they ask the right questions at the right time to get to the root of the pain. The secret here is that High Ticket Closers don't actually sell to prospects.
Instead, Closers will ask them the right questions to understand their deepest needs, goals, and dreams they want to achieve and to discover their biggest pains and challenges they want to solve.
The High Ticket Closer will then prescribe a solution which is essentially the High Ticket product or service. The Closer then closes the prospect on purchasing said product or service through rapport, and the emotional need to solve their pain.
By doing so, prospects will never feel intimidated, nervous or defensive when dealing with High Ticket Closers. In fact, prospects will usually thank the Closer at the end of the call.
What can you do for your business?
If you run a business that offers a High Ticket Product or Service and are currently NOT implementing any Inbound Sales techniques, do consider switching to an Inbound Sales Setup.
I recommend taking a look at the Funnelhacker Cookbook by ClickFunnels™, Russell will teach you how to create Inbound Sales Funnel that works (it’s a free E-book).
You could also reach out to me, by booking a call with me down below or sending us an email to firstname.lastname@example.org.
Until Next Time and To Your Success,
If you would like to learn more about what my team does and how we do it, then book a call with me today.