Finding the ideal b2b marketing strategies can be a challenge. Even in todays business to business market, it can sometimes seem confusing to not only new, but well seasoned business owners too. The reason it can be so complicated is there is not an exact science when it comes to b2b marketing. What works for one business does not always transfer well to other companies.
McDonald’s and Coca Cola are great examples of this. Both of these companies face intense competition, but somehow seem to dominate when it comes to their marketing strategies. Even when businesses directly copy McDonald’s or Coke, they still do not see the same results.
Even though marketing can be daunting at times, there are some marketing strategies for the business to business market you can use that are more successful than others.
Below are five strategies that are currently being used by many different companies and in many different b2b type industries.
Social Media Marketing
If you are one of those businesses that refuses to use social media because you don’t feel there is a place for your company in these spaces, you are going to lose to your competition. Social media is so prevalent on a global scale and is here to stay.
Facebook alone has reached over 2 billion active users by 2017. With that in mind, it should be obvious that no matter who you are targeting, they can be found on social networks.
A recent survey shows that connecting with qualified buyers on average requires 18 or more phone calls or touch-points. The average callback rate is below 1%, and only 24% of those random emails you are sending get opened. Another source says that 84% of B2B buyers begin the buying process through referrals.
You need to begin using social selling via social media in order to increase your ROI. Engage and interact with your prospects in a non-intrusive way through social media platforms. In order to do this, you first need to establish a presence on social media platforms, create valuable content for people to share, and gather customer feedback by posting surveys and contests.
CRM Sales & Marketing Software
While using social media is a great place to begin building awareness, you need to capture prospect and customer data in order to more efficiently and effectively track your results. Using Customer Relationship Management (CRM) software will help you do that and more.
CRM software enables you to store customer and prospect data, current accounts and account activity, open leads, and other opportunities within a centralized program.
You can usually use CRM platforms to generate reports and measure results on current marketing and sales campaigns as well. Many CRM platforms also offer marketing capabilities. They allow you to create email campaigns and newsletters, as well as customized landing pages.
Direct Mail and Email
One of the most used marketing strategies is of course directly mailing flyers and advertisements through the mail to targeted customers. While this strategy can work, many businesses fail and see a very small ROI. The reason for this is they do not do the necessary research and work up front to narrow down who to send the mailings too. Also, simply sending the mail one time will not usually elicit a response.
The trick is to send valuable information to the right prospects.
Your goal should be to build awareness or further solidify your awareness for the prospect so you stay top of mind. When the time comes for them to make a purchase, you want your prospect to think of your business first instead of the competition.
Be creative when sending direct mail.
Sending postcards are not as effective as sending a customized stress ball with a personal note. A stress ball sent to your prospects will be much less likely to get thrown out. The prospect will probably put that stress ball with your name and logo on it inside or on top of their desk where they will see it every single day.
Direct emailing is similar to direct mail.
Direct emailing can be effective if it is executed correctly. Bob Gilbreath, the CEO of an internet marketing agency called Ahalogy, believes that direct emailing can be very useful. In an interview, he stated that emails are a great direct marketing tactic, so long as they contain useful content and inspiration for the recipient. Sending random, generalized emails that will most likely end up in spam folders is not very effective.
Be creative and engaging with your content to improve your results.
Marketing Automation
Technology is obviously bringing about great changes in the world around us. Marketing automation is a new tactic businesses are using to automate many marketing processes.
Marketing automation is essentially a type of software that helps businesses follow up and interact with their prospects and customers. It can be set up, based on preset and predetermined rules until the prospect is ready to buy. By pairing this software with a CRM, you are able to capture all of these interactions and track prospects through your sales funnel.
Content Marketing
Content marketing is a form of marketing that focuses on creating valuable, interesting, and relevant content for your target audience. By using content marketing, you want to set your business up as the expert in your industry. When a potential prospect conducts an internet search for a solution to a problem that your business can solve, you want them to find your website and read your content.
The goal should be to create a diverse array of content, such as blogs, whitepapers, videos, articles, etc. These content pieces should be shareable and valuable to further establish your brand as the industry leader in solving whatever the problem is. Ultimately, you want the customer to take action and either ask for more information or call you for quotes.
In conclusion, there are some marketing strategies for the business to business market that work well, but there is no set standard. B2B marketing strategies require some trial and error with continuous tweaking. These five strategies seem to be the most popular among businesses today.
Leave us some comments and let us know what you think below. Have you ever tried using any of these strategies? What have you done in the past that works?
