As the name suggests, B2B or Business-to-Business marketing is all about the marketing of products or services to other businesses and organizations. B2B marketing techniques are generally based on similar basic principles as consumer marketing. However, these techniques are executed in a distinctive manner. In the case of consumer marketing, products or services are selected not only by looking at their price, but also their popularity, standing, emotional values, and various other things. On the other hand, in B2B marketing, buyer’s decisions are not driven by emotions, instead, they are mainly based on the price and profit potential of the products and services.
As digitalization is taking place everywhere in the business world, B2B marketing has also gone digital. As per Accenture’s Make Music, Not Noise report, over 61% of B2B transactions have already begun online. Another report by Forrester suggests that the B2B e-commerce market in the US is expected to develop at a compound annual growth rate (CAGR) of 10 % to reach above $1.8 trillion by 2023. As mentioned above, the B2B buyers are not driven by emotions, their buying decisions and goals are based on logic, financial incentives, and long-term ROI. However, the key things that B2B businesses are continually struggling with include: how to generate more leads, how to improve lead quality and most importantly, how to bring in new business.
Here are certain important tips for B2B marketers to overcome these challenges and generate a positive ROI in 2020 and beyond, have a look:
1. Content Marketing Strategy
Content is one of the most crucial parts of B2B marketing as B2B buyers are more interested in being educated on the features and financial benefits of the product or services. B2B customers usually prefer informative blogs, press releases, articles, e-books, webinars, and online tutorials. Besides these contents, content marketing should also include infographics, videos, and podcasts as visual content augment engagement and encourage sharing, which further helps in boosting SEO performance. Therefore, an effective content marketing strategy is vital for the success of any organization. It adds useful information that supports the buying decision of B2B customers. One of the most important things to be considered when developing a content marketing strategy is to understand the assorted roles involved in the B2B buying process and accordingly producing the content. In addition to this, one must focus on quality over quantity of content to avoid needless distractions.
2. B2B Digital Marketing
In today’s era, every business must have a digital presence that comprised of SEO, paid ads, and various other places where your B2B Company is active online. In order to make your B2B marketing strategy more strong and effective, you must first identify your target audience. After defining your target audience, it is important to create a website that must present informative and engaging content. A website is a must-have tool for an effective digital marketing campaign as more than 80% of buyers prefers visiting a site before making a purchase decision. The next important step to follow under the B2B digital marketing strategy is to optimize your digital presence through SEO or Search Engine Optimization techniques. When executed properly, SEO can help to improve the ranking of your website in the search result page, attract visitors and ultimately convert visitors into your business customers. Another key step under this strategy that you can follow is to run PPC (Pay-per-click) campaigns. This technique allows businesses to get their content and brand reach in front of their target audiences through search engines and other advertising platforms.
3. B2B Social Media Marketing
Today, social media marketing has become an active and effective channel for sharing content and enhancing a brand’s expertise. It is undoubtedly the most powerful tool for developing brand awareness and boosting an organization’s online presence. However, many B2B companies are still struggling with social media marketing as they find it quite difficult to use social media to connect with business customers. You can involve your employees in your B2B social media marketing strategy as content shared by employees gets eight times more engagement than content shared by brands. You can encourage your employees to create their own social media channels and share useful information about your company that can help to attract your potential customers.
In order to plan your B2B marketing strategy correctly, it is essential to determine the right marketing channels that can prove to be most effective for your specific target customers. Above mentioned are some of the key B2B marketing strategies that might help your business to overcome certain challenges and generate a positive ROI in 2020 and beyond. There are various other marketing strategies as well like B2B e-mail marketing, and B2B search marketing that are equally effective for B2B marketing.
In order to get the most out of these strategies, you can hire B2B marketing services from a well-established company that understands your business requirements and help you to follow the right directions to get the most successful results.