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. And 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 invdival-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 is time-consuming—and even painful.
Why? Because most of the time, the B2B marketing campaign fails to put your brand in front of more people, so no turning up of people as qualified leads and eventually no sales.
So you want to know what a B2B marketing strategy is? Or what is the most effective marketing strategy for B2B or steps to create the best B2B marketing strategies in 2021? 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 for making purchases for their businesses. Customers are normally determined by logic and financial incentives; e.g. return on investment, competence, and capability. It offers the following benefits:
Limitless Distribution Span: When you go for a B2B marketing strategy, you are not limited to customers within a small locality but you target businesses to expand and widen the audience of the companies that are located globally.
It talks about different buying emotions: Just because you are not targeting ‘live people’ does not mean, emotions are not involved because your prospective buyers might be brick n mortar or online businesses and not humans, but they are owned and run by humans. B2B marketing research is more extensive and in-depth so it allows you not only to touch the emotions of each buyer but also earn their loyalty and trust.
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.
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 understanding of each marketing will help you improve your marketing strategies to attract new clients and boost your revenue, which are as follows:
Now you know the major four B2B marketing strategies 2021 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 select the most successful outcome of your effort. These are:
It’s not “one size fits all” when it comes to marketing strategy for B2B as every B2B marketing strategy has its own ups and downs. Similarly, one B2B marketing strategy cannot cater to your unique business requirements since your B2B customers have different profiles, demands, and unique buying patterns. Thus mixing the B2B strategies is the step moving forward as it will not help you reach your B2B customer on their preferred channel but it gives you a chance to be present for them on multi-channels.
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.
A competent competitive analysis helps you evaluate your competitors in relation to your own businesses to assess how far you are faring in terms of communicating about your products and how they are offering solutions to the audience's pain points. After analyzing their strengths and weaknesses in relation to marketing, you can work on your own and decide how you can deliver a consistent stream of high-quality products and services.
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. 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. There are certain elements that help you create a highly functional, SEO & mobile-friendly website to boost sales & conversions:
Quality Images And Content
Visual Elements & Page Design
Continuously Optimized Landing Pages & CTAs
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 B2B strategy 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.
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, and solve your business’s problems or help them do a better job but do not promote your product or service directly to your target audience. 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 why it's time, money and resources will be well spent when they make a purchasing decision with you. So here are the key elements to creating a fantastic B2B email marketing strategy:
“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 make purchasing decisions!” Social media marketing for your B2B business will not only help you increase website traffic or sales, it does more than that. It gives your online B2B business a credible and reliable online image that attracts your potential leads and transforms them into sales to a broader audience in real-time. 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!
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:
High-quality content and link building are the two most important signals used by Google to rank your website for search.
In 2020, 55% of all worldwide online traffic came from mobile, 42% from desktop.
Updating and republishing old blog posts with new content and images can increase organic traffic by as much as 106%.
87% also note that video has improved traffic to their site, while 83% video marketers admit that video has helped with lead generation too.
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.
Globally, over 3.6 billion people use social media and the number is only projected to increase to 4.41 billion in 2025.
96% of B2B marketers use LinkedIn for organic content distribution and 83% for paid social, making it the top most-used platform in both content distribution types.
B2B advertising, social media advertising was used by 83% of marketers and ranked second in success (29%) behind search engine marketing (33%).
91% of customers who follow brands on social media visit its website or app, while 89% of them will buy from the brand and 85% will recommend the brand to a family or friend.
208% increase in revenue witnessed by companies using ABM (Account-Based Marketing)
87% of B2B marketers believe that their ABM initiatives outperform their other marketing investments in terms of ROI.
ABM programs now account for 79% of all sales opportunities (vs. inbound/outbound, etc.)
91% of companies using ABM increase their average deal size, with 25% reporting an increase of +50%
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.
57% of internet users say they won’t recommend a business with a poorly designed website on mobile
86% of B2B buyers are willing to pay more for a greater online customer experience.
More than 90% of buyers say they’re likely to buy again from a vendor that had a superior mobile experience.
In 2020, 80% of the average B2B buyer journey took place online
We all are aware how the online marketing world is constantly evolving at such a quick pace and only those organizations who study the market trends and successfully utilize researched data on their performance– on every aspect and range of their marketing efforts– are meant to rule it.
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 a marketing strategy for B2B organizations that creates a marketing process that helps you to connect, take care of and convert the visitor into buyer. We also shared some trending examples of B2B marketing strategies that you cannot ignore in 2021.
So go on, create your own winning B2B marketing strategy 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!