Just as the Real Estate industry is all about location, business growth is all about marketing. Whether you are an Apple-size business or one just getting off the ground, you need a good marketing strategy to draw in your target audience. So, what is are innovative B2B marketing strategies for 2020 and beyond?
With a dynamic market that is constantly changing, it can get pretty frustrating adopting a B2B marketing strategy that sticks. In fact, 61% of marketers report that garnering traffic and leads is their biggest challenge. Before digitization transformed how we buy and sell, you will have to meet B2B buyers face to face to pitch your sale. However, that is not the case anymore. Times have changed. And so has B2B marketing channels and strategies.
Even worse, the constantly changing market means a trick tagged innovative last year may no longer deliver the expected result this year. Consequently, smart marketers are always on top of their game, trying out different innovative B2B marketing strategies as the market changes.
This is why we took the time to curate this in-depth guide to help you tailor a foolproof B2B marketing strategy sure to help you grow your brand this year and beyond.
Without any more ado, let’s dive in. Shall we?!
Is a Practical B2B Marketing Strategy Actually Worth It?
Short answer – Yes!
If you are yet dragging your feet on creating an implementable marketing strategy then you are losing out on a big deal.
Unlike B2C marketing, gaining leads and traffic as a B2B firm can be really daunting. Think about it – there is always someone who needs a shoe, a bag, or a household utensil. But that is not the same with business software or desktops. Therefore, you must first acknowledge the small size of your customer pool. You will agree that sitting back and waiting for customers to knock on your door won’t get you much, or anything at all.
Furthermore, we have moved past the years of meeting up with potential clients in their offices to pitch ideas. It would be easier to walk into a company that needs your products or services and pitch your sale. But that won’t get you much in today’s innovative market. No one is sitting in the office waiting to be pitched to.
Hence, smart marketers are developing innovative B2B marketing strategies to reach these clients wherever they are – office, on a vacation, on the road, in a conference, or at home.
If you want to be one of these smart marketers, seat back and read until the end as we will be sharing some insightful tips on creating a surefire B2B marketing strategy. Enjoy!
5 innovative B2B Marketing Strategies to Promote Your Brand
1. Use Search Engine Optimization (SEO)
Any smart marketer knows the place of SEO in every B2B marketing strategy. The B2B marketplace has changed drastically in the last two years. Instead of waiting to be sold to, statistics show that 71% of B2B customers scour search engines before making a purchase. To attract more leads, it is a no-brainer to attain the glorified first page of search engines such as Google and Bing. And to do this, you need to follow SEO best practices.
As you draft an innovative B2B marking strategy for the next quarter, be sure to pay attention to SEO – both on-site and off-site. There are multiple ways to enhance your stand in the SEO front. Create quality SEO content on a regular basis, pay attention to metadata, and other on-site SEO tweaks. Don’t forget to hire professionals to handle the task if the need arises.
2. Word of Mouth Marketing
Call it old fashioned but this marketing strategy has continued to prove effective in both B2C and B2B marketing. As a matter of fact, a study shows that Word of Mouth marketing accounts for up to 50% of all purchasing decisions. If you are looking for a practical way to reach the right customers, you should totally consider this marketing strategy.
As a marketer looking to get the best bang from this strategy, it is not smart to rely on just doing a great job and hoping happy customers spread the word. While that is part of it, you have to put in more effort to make this channel profitable. You could increase your chances by creating a referral program. With an incentive in place, happy customers will be more than willing to ‘share the word.’ Don’t sleep on this!
3. Focus on Account-Based Marketing (ABM)
Typically, marketers tend to focus on quantity, instead of quality. It is a general belief that the bigger the number, the better you are doing. However, that is not always true. Targeting a small group at a time could prove more profitable than chasing a large stream of potential buyers. With this B2B marketing strategy, marketers are advised to focus on a set of accounts at a time. You could focus on a set of senior officials in a particular firm or a number of firms. This way it is easier to create campaigns and contents that are specifically targeted at your audience.
Account-based marketing is an innovative B2B marketing strategy that will help you in drive more revenue, even in a recession.
4. Be a Thought Leader
Unlike the B2C marketplace where you are targeting just about any Joe, B2B customers are usually grounded in their fields. As such, they need a brand that truly understands their need and can offer the best possible solution.
To gain more leads using this innovative B2B marketing strategy, you will have to offer expert opinions on issues relevant to your field.
5. Create a Formal Program for Employee Activation
4 out of 5 companies will give a resounding Yes if asked whether they use Employee Activation marketing strategy. When, in fact, only 1 in 5 of these companies actually leverages the potential locked in this practical B2B marketing strategy.
As explained in Word of Mouth marketing, you are doing it wrong if you are only waiting for your employees to share a few press releases or blogs. Employee Activation goes way beyond that. To enjoy the full potential of this marketing strategy, experts advise you to create a formal program that actively encourages your employees to get involved in marketing.
Remember, employees have way more connection than the company itself. If you are not tapping from this raw lead generation strategy then you are missing out on a whole lot. Start today!
Best B2B Marketing Channel to Grow Your Brand
It is not enough to create a B2B marketing strategy, you also need to add some channels of execution to your archive. Now you understand that content marketing is a great marketing strategy, how do you get these contents to your target audience? What channel is best for Employee Activation? How do you execute an Account-based marketing strategy?
These are some of the recurring questions we have got in the past month. So, we added this section to expose some of the best B2B marketing channels to grow your revenue. Give it a try!
Trade Shows and Events
Without a doubt, this is one of the most proactive channels to gain massive traffic. A survey of about 200 senior-level B2B marketers clearly shows the impact of this B2B marketing channel. This is not much of a shocker as attendees of trade events are mostly key industry decision-makers. And this is exactly what you need to skyrocket your sales. Here is how you can drive more revenue through B2B events by implementing digital marketing.
Social Media Advertising
The biggest change that happened in the marketplace this past decade is the rise of social media in lead generation. From a place people meet and ‘while away time,’ social media has grown into a hub of business. In fact, any successful business today has an impressive social media presence. Yeah, it is that much of a big deal. As amazing as the stats may be, you have to learn which social media platform works best for you. Don’t waste any second. Get posting!
Search Engine Advertising
While we can’t predict what will happen tomorrow or the next decade, we can certainly assure you that SEO will continue to rule as one of the best B2B marketing channels. Search engine advertising is a land of gold waiting to be mined. Any smart marketer won’t sleep on this! Whatever you do, ensure you have just the right dose of search engine advertising. You will be happy you did.
Besides shelling out highly informative content from time to time, webinars are a great B2B channel to engage your audience and prove yourself a thought leader in your field. Remember the world is listening. Be prepared!
Although this is one of the oldest B2B marketing channels on the planet, you can always count on email marketing to boost your lead generation strategy. With the right type of content, you will be surprised how effective this old (scratch that, gold) marketing channel really is. Have you tried integrating email marketing with intent-based marketing?
Undoubtedly, marketing is the heart of any business. Without a good marketing department, your firm is as good as dead. It is needless to add that every marketing department needs a practical B2B marketing strategy to succeed.
There are a ton of competitors waiting to snatch as many customers as they can. Until you create a foolproof B2B marketing strategy to secure your customer pool, you will keep playing quarterback to your competitors.
We hope this guide sets you up for success. Good luck!