Businesses across all industries have critically assessed their marketing presence this year.
One glaring reason for this is to decide whether or not to invest into new marketing strategies, and if so, what value it can bring.
As a result of this, B2B businesses are taking a hard look at their marketing strategy for 2021 and beyond.
So in this month’s blog let’s discuss a few reasons to consider revamping your B2B marketing strategy, as well as the long-term benefits you can expect!
Technology is Here to Stay
Technology has infiltrated the business world, and marketing is no different. B2B businesses are doubling down on tech to drive their business into the future.
Whether it be marketing automation, artificial intelligence, or marketing analytics EVERY business stands to gain something in this new tech era.
Food for Thought: 47% of marketers plan to increase their use of AI in 2021.
And this doesn’t mean overhauling your current marketing communication strategy, the key is integrating these new technologies to enhance your B2B marketing to new heights.
A common example of this principle is email marketing. This channel is still providing massive value in 2021, but there are certain aspects that can be made easier. Such as:
- Automating email content delivery to free up time.
- Analytics ingrained in content for real-time updates on the health of the campaign.
And those are the obvious ones! The possibilities are endless…
Find Your Customers…And KEEP Them
In contrast to our first point centering on using tech to go on the offensive with marketing, reason number two is about keeping the customers that you do have and being a bit more defensive.
In the B2B world, customers are in short supply. Which means building and keeping a relationship with the customers you do have is critical (we’ll talk about this further in a bit).
Investing in your marketing pays dividends here. Why?
Because as your competition provides new and engaging strategies to draw in clients, your business can respond to this quickly. Selling to existing customers is a lot easier than to a new market!
Golden Rule: Stay loyal to your existing customers while meeting the needs of the new ones.
It’s All About The Touchpoints
Remember how we mentioned relationships a bit ago? Well here’s where it gets even more interesting.
B2B businesses often make the mistake of assuming their target audience is less complex than that of B2C companies…Wrong!
The same personalized experience consumers respond to, can work when used on businesses as well. Mainly because it shows effort. Taking the time to learn about your customer is never easy, but if you’re willing to invest the time, you’ll reap the reward.
One of the best ways to build trust and brand recognition is by using multiple communication channels to consistently market to your target audience.
That means investing in SMS, direct mail, social media, and more!
Time To Socialize
So you know how we mentioned social media as a channel to explore…Yeah we weren’t kidding.
Social media is NOT just a B2C channel. In fact, certain social media sites are better suited for B2B marketing than B2C.
Ever heard of LinkedIn? 89% of B2B marketers use it for social media B2B lead generation!
And by leveraging social media, we don’t mean just make an account. We mean engaging your audience in a meaningful way. But this isn’t always clear, depending on who your audience is, they may be looking for different things.
Leave It To The Experts
Last but not least, expert advice!
Without a full-fledged marketing arm to your business, it’ll be hard to fully capitalise on the potential of your business.
(That’s where a database marketing company can come into play for instance)
But seriously, partnering with an expert is helpful in making the RIGHT decisions with your marketing.
- Knowing which audience to target.
- What should your positioning be in the market?
- Where is your industry going next, and how can you be prepared for it?
And who said running a business was easy?!
While we just scratched the surface of the value marketing can provide to a B2B business, we hope you learned something.
Maybe about what area your business can start to invest in going forward, or maybe an area that you should double-down in!
But if you forget any of the points we’ve mentioned, don’t worry. We summarized it all in an infographic below! Feel free to share it far and wide!
– The IDS Team