We all know, effective marketing is not something everyone gets right in one go. We know, between increasingly creative demands, budget constraints, and other decisions related to marketing channels, marketing professionals have a lot to juggle when it comes to developing a perfect marketing strategy for b2b. When it comes to B2B, the difficulty reaches the next level. The thing that holds together an effective marketing strategy is an audience. We all know what happens when you do not properly target your buyer persona? Your promotions and advertising efforts go in vain. It’s quite close to having no marketing at all.
Similarly, when the target audience is vast and not particularly individual-centric, the job gets difficult. Though the B2B business is still between an individual consumer and business, some companies prefer serving individual shoppers while others cater to corporate companies or organizations. That’s where the real trouble starts as many B2B businesses fail to or do not fully comprehend the vast difference while marketing to businesses and marketing to individual consumers. That’s the reason why 77% of B2B buyers still feel that making a purchase decision is time-consuming—and even painful.
Why? Because most of the time, the B2B marketing campaign fails to put your brand in front of the right audience, leading to almost negligible leads and thereby conversions.
So you want to know what a B2B marketing strategy is? Or what are the most effective b2b marketing strategies, and steps to create the best B2B marketing strategies in 2022? In that case, this blog is for you, additionally, we will also share some amazing B2B marketing strategies examples.
Ready? Let’s dive in!
Business-to-business or B2B marketing is a process that involves marketing certain products or services developed or manufactured by one company and sold to another one.
So what is a B2B marketing strategy? It is about marketing efforts to target a particular business or any organization that needs or requires the product or services we develop or offer. B2B marketing is geared towards marketing products to other companies, and not the consumers directly. Like an ad agency that targets companies for ad campaigns and not the end consumer.
Customers in the case of marketing strategy for b2b are normally determined by logic and financial incentives; e.g. return on investment, competence, and capability. B2B marketing strategies offer the following benefits:
Expands Your Horizon: When you go for a b2b marketing strategy, you are targeting businesses and not the end consumer in a certain geography. Targeting business gives you a global platform for outreach.
Long-term Relationship: When the platform is b2b and you are working on b2b marketing strategies you are targeting businesses. Businesses that run on trust, credibility, and relationships that are not just one time. You give the business what solves their pain points, churn profits for them, play high on the emotional factor and there you seal the deal for a long time.
It simplifies complex products and services: Let’s admit B2B products are mostly complex and quite difficult to understand so their visibility becomes almost cloudy. But if B2B marketing is done right and with intricate, subtle, and not-so-technical content, it can make your products easy to understand and explore.
Word Of Mouth Publicity - B2B marketing strategies when done right, and you succeed in drawing value to your customer, the business that’s now one of your clients won’t mind coming up with references. One business as a client will get you another 10 without spending a single penny in marketing.
Yes, they are different and not just because B2B’s target audience is business while B2C’s markets directly to consumers. We are providing some detailed differences between b2b and b2c so that you can come up with the right marketing strategies to attract new clients and boost your revenue. Key differences between B2B and B2C are:
You now know what makes B2B different from B2C and it’s time to get into action by coming up with the best b2b marketing strategies.
Your marketing strategy needs to cater to your specific customers, while also considering factors like your business, your current market position and the resources (financial, team, and otherwise) you have with you for marketing. But the question is what strategy to go for and how to ensure it is effectively put to use for success in today’s hyper-competitive market? We have curated a list of 4 absolutely fundamental B2B marketing strategies 2021 that will not only help your company stay ahead of your competition but also keeps you stay afloat:
Content is King. We have been told that for years. And it is still true. B2B content marketing is all about planning, creating, and distributing marketing content or materials that are engaging, solve business challenges, or help them in some way to make things better.
For instance, businesses are struggling to maintain the client database and you come up with content that solves their pain point along with integrating your brand smartly. Your social media campaign instantly connects and thus will lead to getting qualified leads.
It not only improves your user engagement, developing your brand identity & ROI on your marketing efforts but it does more than that! A good content strategy allows you to understand why you are using any content, who you want to target and what content will reach them, and what channels you will use to achieve your goals. A great content marketing strategy has the following key elements:
When the whole world is turning digital, it is quite obvious that your potential clients will be searching for solutions to treat their pain points online. So, not only is it your job to be a proactive problem solver and not a proactive pusher of products to them but it is also important that you are communicating with them in the way they expect or want. How do you do that? Digital marketing. A digital marketing plan, just like branding, is essential to attract more customers, convert leads into sales, and for brand awareness via digital channels. It lets you interact with your prospects and learn exactly what they are looking for and lets you reach a global marketplace instantly. Some of the key elements of a Digital Marketing Plan:
Do you know 93% of B2B marketers prefer email marketing to sell products and services or communicate information between their clients? So there are businesses out there who have already mastered this art and you need to buckle up if you want to survive this B2B market.
Unlike B2C email marketing, you are not just tapping into the emotions of a consumer and compelling them to buy your product or service, you have to do more and be reasonable while doing it.
B2B email marketing is more about being logical and reasonable in your efforts to convince a business that how its resources will be well spent judiciously when they make a purchasing decision with you. So here are the key elements to creating a fantastic B2B email marketing strategy:
B2B social media marketing is a game-changer when done right. You are catering to a serious audience, an audience that will not get influenced by just putting up any kind of content on the web. They get impressed when it makes sense and adds value to them.
“So if you have already stepped into the digital world then why are you not on social media which has 4.2 billion active social media users around the world and 75% of B2B buyers use social media to ist best and with the correct marketing strategy for b2b.
Social media marketing for your B2B business will not only help you increase website traffic, establish dominance, but it also does more than that. It gives your online B2B business a credible and reliable image that attracts your potential leads and transforms them into life-long users. So follow these tips to create a social media marketing strategy that works wonder for you:
Since we know a bit about all the B2B marketing strategies and what are the key elements to improve them, let’s now focus on steps to create a marketing strategy for B2B like a pro!
Now you know the major four B2B marketing strategies 2022 but how can you choose the most effective and suitable marketing strategy for B2B? Worry not, we have created a list of some effective tips to help you follow the right direction for marketing strategy for B2B planning and come up with the best action plan.
To come up with the right marketing strategy for b2b, understand it’s not “one size fits all”, as every B2B marketing strategy has its own ups and downs. Similarly, one B2B marketing strategy cannot cater to your unique business requirements since every customer has different profiles, demands, and unique buying patterns.
Thus juggling up B2B strategies is not the right move as it will not help you reach your B2B customer. Consider aligning every marketing strategy for b2b according to the marketing funnel. This will help you come up with the right mix of strategies as and when required.
Before you decide to go for any B2B strategies you need to figure out what to expect out of them. Is it the success of the business you’re looking for? Or is it high-profit margins or generating leads or awareness of your goal? Whatever it is, document it well and create a B2B marketing strategy based on it and follow the SMART approach:
Specific: Explain exactly what it’s you’re trying to accomplish.
Measurable: Make sure there’s a way for progress and success to be tracked.
Achievable: It needs to be realistically possible (i.e. “generate 50,000 inbound leads this year” when you only had 200 last year is likely a major stretch)
Relevant: If your marketing goal doesn’t connect to your business goals and won’t directly impact your overall success, it’s not worth setting.
Time-Bound: A goal without a deadline is just a dream.
Once you are through it, you will have a rough idea about what actions and results will take you to your business goals successfully.
You can't draw the right best b2b marketing strategies unless you know your competitors in and out. Imagine making social media b2b marketing strategies without knowing what your competing brand is doing on a similar platform, are you offering a similar campaign as them, what is your USP, what are their loopholes?
Ways to do the right competition analysis:
Benchmark competitors’ Google ads and analyze them. There are multiple tools to your rescue.
Check out their social media pages like the Facebook page, see what is trending, what kind of comments and conversions are they driving, who are their followers, and vice versa.
Do a SWOT analysis.
Use SEO tools like SEMRush to track the organic performance of your competitors.
You can’t have an effective B2B marketing strategy when you don’t know who you are trying to reach out with your B2B business. Identifying your target is an essential step for developing brand messaging, seeking what type of content they want and how you can enhance engagement and business relationships.
How will you find out B2B target customers, here are some tips:
Ensure you are aware of your target B2B customers from the angle of company, industry, company’s location for an effective B2B marketing strategy to build yourself a solid customer base.
Running a business in an industry that is oversaturated with other businesses and competitors and then standing out in a crowded market may seem like an impossible task. But it is achievable. How? Through Niche marketing. Just like finding your niche is important before you start a business, similarly to narrowing down your marketing efforts and reaping maximum benefits from it is the key to being the fastest-growing B2B company. So instead of focusing on everyone, try marketing to a unique target audience who could benefit from your product or service. This strategy will not only help you offer exclusive service to the niche market or demographic of potential customers based on your specialty but let you have a space in which you can become an indisputable expert and leader.
Your website is your digital identity in the online market full of competitors who are involved in the same niche as you. Therefore, it becomes necessary that you offer the best user experience to your customers so that your existing or potential customers not only easily can find you but also take actionable steps as well. Consider working with a professional web designing company as you are targeting a serious piece of business and your website needs to live up to the mark.
The process of nurturing leads through robust informational, visual content and carefully targeted marketing can bring qualified leads straight to you which somewhat looks like this:
What is the point of employing a robust marketing strategy for b2b when you don’t evaluate its performance? Metric-based evaluations help you to iterate your marketing efforts and take decisions based on real data rather than intuition. Analytical tools like Google Analytics, MOZ or Hootsuite are few essential tools that are not only for measuring, analyzing your site traffic or SEO efforts but also for in-depth social media analytics. So, embrace them, use them to know which B2B marketing efforts are generating high conversion rates or sales cost-effectively and which are not working so as to focus your effort on those channels that are beneficial to you and leverage their high potentials.
When you are into B2B marketing strategy, you want your every strategy to stay relevant and work fantastically for you to stay afloat. But there are so many B2B marketing strategies and trends that sometimes it is hard to follow or keep up with the continually evolving trends so which one to follow, consider on priority and avoid others. Here’s a list of some of the trendiest B2B strategy examples with some amazing facts to help you choose the best:
Email marketing boasts a 4200% ROI ($42 for every $1 spent).
59% of B2B marketers prefer email for lead generation.
Email is 40% better at converting (in comparison to Facebook and Twitter).
87% of B2B marketers use email as a distribution channel.
75% of Instagrammers will make a purchase or tell a friend when they get inspired by a post.
B2B companies with referrals experience a 70% higher conversion rate.
Referred customers’ lifetime value (LTV) is 16% higher than that of non-referred customers.
Referral leads have a 30% higher conversion rate than leads from any other channel & it accounts for 65% of companies’ new deals.
People following directions with text and illustrations do 323% better than people following directions without illustrations.
B2B marketers, Content Marketing Institute’s 2021 research found visual content the sixth most used content type.
If a relevant image is paired with information, people retain 65% of the information three days later while if there is no image with the same information they remember only 10% of it.
Infographics have had the biggest increase in usage among B2B marketers in the last four years-- now at 67%
76% of companies that implemented marketing automation enjoyed ROI within a year.
58% of marketers say upselling is one of the most important uses of marketing automation.
80% of companies saw an increase in leads through marketing automation.
77% of companies reported increased conversions through automated lead nurturing.
We all are aware how the online marketing world is constantly evolving at such a quick pace and only those organizations who are aware of the market trends and successfully utilize researched data to enhance performance– on every aspect and range of their marketing efforts– are meant to rule.
So the key to ruling the online market is not to get comfortable with your present success or growth but keep on moving forward and continuously evolve and evaluate your B2B marketing strategies and improve them whenever needed.
In this blog on marketing strategy for B2B, we hope we gave you a detailed insight into how to create the best b2b marketing strategies, that helps you to connect with the right audience, and enhance conversions. We also shared some trending examples of B2B marketing strategies that you cannot ignore in 2022.
So go on, create your own winning B2B marketing strategies with our guide-- but if it seems too much to handle, we are here for you to unload this burden of the entire B2B marketing strategy. Ring Us!
Or if you have any questions or need any clarity on any point, drop us a comment and we will gladly fill in those blanks and answer your every question!