10 Essential B2B Marketing Strategies to Grow your Business
Welcome to the new age of B2B Marketing!
Do you want to grow your business? Are you looking for strategies to expand your business? Well, you are in the right place. In this blog, we will discuss some of the key strategies to grow your business exponentially.
As the modern market expands and audience changes, you have to implement the best strategies and tactics. If you want to stay on top of your game, you need to add new methods regularly. Here, in this blog, we will discuss how the ever-expanding arena of digitalization has redefined B2B marketing strategies.
Have a look at the top ten most significant marketing strategies, followed by every B2B marketing agency
1) Event Marketing
Event marketing is a practical, unique and full-of-fun promotional B2B marketing strategies that aims at seeking the attention of a group of people gathered together. It involves face-to-face contact with potential customers at events like fairs, concerts, etc. Companies reach out to customers through free samples, discounts, etc. so that customers get to know more about the product at the same time of participating in an event. It's more like a live participatory commercial. You must have seen different companies organizing events in malls.
'The most successful businesses are spending 1.7x the average marketing budget on live events.' -Event Marketing 2018: Benchmarks and Trends report
2) Search Engine Optimization
Techniques that lead to an increase in the quantity and quality of traffic on your website through optimizing online content form a part of Search Engine Optimization (SEO). It's a highly dynamic and complex B2B marketing strategy. If you want greater visibility on search engine results, more traffic and attract customers who are genuinely interested in your product, then harnessing the potential of SEO is a must. To develop a competitive SEO strategy, you need to understand in depth these aspects:
• Your Audience
• Algorithm Changes
• Emerging Trends
• Technological Advancement
3) Content Marketing
Your B2B marketing plan is incomplete without a strong content marketing strategy. It includes blogs, newsletters, e-books news articles, FAQs, press releases and other such readable content. The approach in itself is not something very refreshing and new. Instead, the way this strategy is implemented is what needs to be revolutionized. You must generate content that helps the buyer in every step of the purchase journey. And yes, to make the best out of your content marketing strategy you must have a well-laid out the content schedule and content distribution plan.
4) PAY PER CLICK SEARCH ADVERTISING (PPC)
In this marketing model, advertisers have to pay a fee each time one of their ads is clicked. Unlike gaining organic search results, it's a way of buying visits to your website. For a good PPC campaign you should get the following steps were done:
•Research and select the most appropriate keywords
•Organizing keywords into ad-groups
•Set up PPC landing pages optimized for conversions
Google Ads is the most popular PPC model. Being the most popular search engine, Google can considerably help deliver the maximum traffic if your campaign is designed effectively.
5) Affiliate Partnerships
This B2B marketing strategy provides a vast number of opportunities for you to grow by enabling two businesses to promote each others' products. Let's check out these three ways to implement an excellent affiliate partnership strategy:
• Participate in industry events such as webinars and conferences
•Reaching out to programs having complementary differences but similar audience and objectives
• Recruiting social media influencers
6) Email Marketing
Email Marketing has been the highest ROI generating channel in the past decade. The key to an effective email marketing strategy is the right message, the right person and the right time. Email marketing is not a fad; instead, it is the staple of marketing strategies that most successful companies bank upon. Some of the modern email marketing techniques are:
•Personalize email with the recipient's name
•Prime-time to send an email: 8:00 pm to 12 midnight and weekends
• Design mobile-friendly emails
•Re-engage inactive subscribers
•Segment email list
7) Conversational Selling
In current marketing setups, the customers directly contact the sellers, and there is a direct one-to-one conversation regarding the product. But with the changing dynamics of business, this task would be considered an ordeal for most companies.
However, with the extensive use of virtual chats like WhatsApp and Facebook Messenger, technology has found a solution to this problem as well. For the successful implementation of this B2B marketing strategy, you need an active customer data management program. Conversational commerce is an integrated way of selling. Selling with chat bots is a flexible framework.
8) Account Based Marketing
'85% of marketers who measure ROI describe account-based marketing as delivering higher returns than any other marketing approach.' -ITSMA
Also known as essential account marketing, ABM aims at directly impacting revenue growth. It enables the sales team to personalize their outreach better. ABM involves engaging a defined set of targeted accounts through personalized campaigns tailored to each account.
9) Virtual Reality
'The projected VR software and hardware market is expected to reach $40.4 billion by 2020.'
Virtual Reality is drastically changing the 'try before you buy' concept. With the falling costs of VR headsets, businesses are already reaping the benefits of VR. For example many automobile companies like Volvo, Porsche and Mercedes have used VR test drive of their cars. The diverse, innovative ways include giving a complete 360° view of the production process of your product which is not only informative but entertaining as well. Many industries utilizing VR are tourism, home decor, real estate, and retail.
10) Conversion Rate Optimization
Getting more traffic is one thing and getting more from existing traffic is another. The latter one is what we call conversion rate optimization. It is the process of converting site visitors into customers or leads. The various parts of the page like the homepage, pricing page, blog, and landing pages are optimized for driving greater conversions.
•Simpler website navigation
•Higher page load speed
•Use complementary colours
•Use verified payment mechanisms, trust seals, and free shipping
•Utilize strategic CTA's
To deliver an experience that is highly relevant, personalized, streamlined and contextual, B2B marketers need to have a complete understanding of what the market demands and how can they channel their resources to the best strategies and practices.
'Most B2B buyers are already 57% of the way through the buying process before the first meeting with a representative.' -Accenture, 2018
B2B buyers are demanding a customer-centric purchasing experience that is relevant, contextual, helpful, human and streamlined. After all of this, you will have some customers who will be ready to either convert or will get in touch with your sales team.
Hence, use more of these marketing strategies, and you will build your B2B strategy to an unbeatable height. Or else, it is always advised to take the help of a growth hacking agency, who can streamline your B2B marketing strategies.