Banking Term : Inbound Marketing

Inbound marketing is the method of promoting the company’s product through online channels like Blogs, websites, podcasts, Videos, eBooks, e-newsletters, Whitepapers, SEO, Social Media and other content marketing forms which are designed to attract customers through the various purchasing steps.

In Contrast, Inbound marketing refers to the activities which brings customers in rather than marketers to go out for getting prospect’s attention with drawing visitors attention to the website by producing suave content.

Inbound marketing term was introduced by Hub Spot’s Brian Halligan. It is considered suitable for small businesses dealing with high dollar values and knowledge based products.

Advantages : - It has the following benefits —

1. Cost Effective : - It is less expensive than outbound marketing as it requires less number of resources, Manpower and management.
2. Targeted and timely delivery: -  If it is done correctly, It is bound to deliver content at the right time, right place and to the right people.
3. Instant and Fast: - Content can be published immediately and it gets published automatically on the web.
4. Easy ownership: - Anyone can afford the medium (Websites, Social media Account etc.) on Internet by spending nominal charges as per the requirements.

Disadvantages: - these are as follows: -

1. It requires Strong marketing communication skills that’s why you have to hire people for that.
2. Limited Scope: - It is limited to only reaching people who have opted to see your message.
3. Loss of Control: -  All messages and conversations arrived to the company generally are in bulk. That’s why, It is not possible to handle all the queries.
4. Easy dormancy of messages: - The amount of content online is extraordinary and it can be difficult to cut it from the pile of available information.
5. Inbound marketing can fool customers as used resources are not so costly.