The modern B2B cycle has evolved. It is no longer a funnel, but a fluid cycle with overlapping touch points, multiple stakeholders and prospects conducting more independent research. B2B products and services also tend to be more complex and require solutions driven by rational decision making, rather than spontaneous purchases.
Check out the 6 key strategies to keep your marketing strong and your revenue growing:
Content marketing
You may have heard it repeatedly, but content marketing still reigns supreme for B2B marketers. In the past, a sales rep, distributor or channel partner was the key point of contact for gathering information. From warranty information, pricing, product features and more, a sales rep was the gateway to any information related to the product or service.
Of course, we know this is no longer the case. B2B buyers have numerous channels to research. In fact, it is estimated that 57% of the buying decision is made before a potential customer contacts a sales rep.
According to a recent study by Regalix, 80% of senior marketers said that creating marketing collateral is a top priority. In another TopRank study, the most effective content marketing tactics according to B2B marketers are
- In-person events (70%)
- Case studies (65%)
- Videos (63%)
- Webinars (63%)
- Blogs (62%)
- Newsletters (60%)
- White papers and research reports (59%)
As prospects research, be sure to create different types of content based on where they are in the buying cycle. Develop a content mix to help a buyer move seamlessly from awareness to price and product comparison, without any involvement from a sales rep until the prospect is ready to commit.
Digital marketing channels
B2B market leaders are investing heavily in digital marketing channels. According to a StrongView study, spending is increasing on email, social media, mobile marketing and search(SEO, PPC).
As prospects turn to digital sources to do their research, B2B marketers need to make sure they are relevant on the channels where a prospect is most likely to be searching. Now that you have an arsenal full of great content, the next important step is to make sure your content can be found.
Social media channels = B2B revenue
Social media is a great way to share content, build brand loyalty and engage with potential customers. Real Business Rescue shares some insights on the value of social media for B2B marketers:
- 9 out of 10 B2B companies say increased exposure is the number one benefit of social media
- Increased traffic (80%), development of loyal fans (72%) and market intelligence (71%) were also cited as top benefits.
While social media was once thought to be primarily a B2C strategy, nothing could be further from the truth. As customer purchasing decisions are increasingly affected by word-of-mouth and content marketing, social media is an ideal avenue to engage with potential customers seeking peer education and recommendations.
The power of third-party data
Did you know that, on average, every 30 minutes, 120 company addresses change, 75 telephone numbers change, 20 CEOs leave their jobs and 30 new companies are created (Source: D&B The Sales and Marketing Institute).
Keeping your customer and prospect information accurate and up-to-date can mean the difference between a sale for you, or a sale for your competitor. An incorrect email address or phone number can quickly derail the best-designed communication strategy. Not being aware of key management changes or the creation of a new company can leave opportunities on the table.
A third-party provider can quickly get your data into shape by correcting erroneous information and adding missing information, such as phone numbers and email addresses. Additional information, such as online IDs, can also be added to drive digital targeting across all channels.
According to a survey conducted by Spear Marketing Group, 40.7% of B2B marketers currently use a third-party data solution, while nearly half (46%) do not use any third-party data enrichment.
Customize the experience
Personalization is a topic of active discussion among B2B and B2C marketers. Your customers and prospects have come to expect companies to know who they are and deliver personalized experiences based on this knowledge. According to Accenture, 50% of B2B buyers want personalization and identify it as a key feature among vendors they would want to work with.
Some types of customization:
- Social media: Engage in personal conversations with your customers. Equally important, be sure to continually monitor social sites. Social media users expect a quick response to their questions and inquiries.
- Email: Send targeted emails to segments based on purchase history, firmographic information, process cycle stage, etc.
- Websites: Offer different navigation options, a good on-site search engine, and landing pages for promotions.
- Phone: Make sure you have an interface to quickly pull up customer details so you can provide personalized recommendations and offers on the spot.
Millennials should not be forgotten
As millennials come of age, there has been a growing shift over the past 2 years in the profile of today’s B2B buyer. According to a Google study, nearly half of B2B buyers are between the ages of 18 and 34, an increase of 70%! As millennial buyers become more influential in buying decisions, implementing ways to connect with this generation is increasing in importance. Millennials are more likely to trust information found in social communities because they believe they provide more accurate and authentic information. Research conducted by Elite Daily revealed that 62% of millennials say that if a brand engages with them on social media, they are more likely to become loyal customers.
Millennials also expect to engage with sales reps through the channel of their choice and at any time. With 87% of millennials using between 2 and 3 devices daily, having easily accessible and mobile-friendly information is crucial to capturing the attention of this audience.
As B2B buyers become increasingly sophisticated, so must your marketing strategies. The way buyers research and purchase products has changed and your marketing must be able to do more of the heavy lifting before a buyer is finally ready to engage with your sales reps.
Digital marketing agency for B2B companies
The important thing is not to stand still or become complacent. To remain competitive, your company must constantly evaluate its B2B marketing strategies and find ways to improve.
The world of online marketing is evolving at an increasingly rapid pace, but today, companies that successfully collect and use data on their performance across a wide range of marketing efforts-are positioned to win.
Do you want to learn about B2B Marketing strategies?
In Inprofit we are a Marketing Agency specialized in offering services to the B2B sector. Ask us without obligation how we can launch your strategy to the next level with a 360 strategy.
