Most B2B enterprises cut their advertising budget during financially-challenging times. This is expected, spending money during an economic downtrend is incredibly risky. However, the economy is already starting to pick up and everybody is optimistic about the future, maybe it’s high time to shake things up a bit and think about revamping your strategy.
Here are some ideas on how to revamp your B2B marketing strategies.
1. Consider Boosting Your Marketing Budget
Focusing on boosting sales is essential to keeping any company alive. That said, you must ramp up your marketing campaign to help you attract more customers that will allow you to get the most of the economy’s growth. However, you ought to understand that marketing to other businesses is different from marketing to consumers because they have different needs and goals. That said, allocating a portion of your budget to B2B marketing is generally a good idea.
You don’t need to spend a lot, but you have to make sure that every dollar you spend marketing to your B2B clients is money well spent. In case you don’t have adequate funds for good marketing, you may want to consider taking out a loan, preferably one with a low working capital loan interest rate.
2. List Your Company Online
You don’t have to spend an arm and a leg just for marketing. There are a lot of marketing applications online that are free and easy to use. These tools can help you boost your online presence and reach out to different types of customers.
Remember that companies, not just consumers, look at listings when they need a service or product. This means it’s a good idea to put your company on free online business listings like Google My Business (GMB). Whatever your type of business, taking GMB for granted is one marketing mistake you can’t make.
3. Revisit Your Advertising Plan
If you haven’t changed your marketing strategy for years, now would be the time to go back to the drawing board and start revisiting your campaigns. Times are changing, and your marketing plan must ride the digital tide.
You can start by redefining your target market, especially if you have a B2B segment. Then, outline your unique product or service points, create your digital content, and finally implement your plan. If all these tasks seem too difficult to handle on your own, it may be best to consult with a B2B digital marketing agency to help you get leads.
4. Remember To Foster Connections
Unlike most consumers that could act on impulse, business clients decide based on facts, data, and factors that cater to their needs. However, that doesn’t mean you should forget about nurturing personal connections with your B2B market. One effective B2B marketing strategy is to add personalization to your email marketing. Make your emails informative, engaging, and more personal.
You need to maintain a degree of professionalism to build rapport, but your promotional emails don’t necessarily have to be stiff, distant, and full of business jargon. To attract business customers, you may reach out to each enterprise as you would to a human consumer. For example: suppose a target company just received an accolade, be sure to congratulate the company before you lay down your sales pitch in your email.
5. Utilize Different Channels
Possible business leads will check your website before requesting a meeting or even considering you as a supplier. Thus, your website should be stellar and have a page specifically designed for your B2B clients.
However, customers will also go beyond visiting your company website. They are also on different social platforms so you should consider establishing a presence in those channels. Consider creating live videos, be active on relevant social media, try influencer marketing, and even sponsor community webinars.
Of course, there are also your traditional or physical marketing channels. With your B2B clients, you may continue cold calling, attend trade shows and business conferences, send direct mail, and do sponsorships.
6. Build A Stronger Brand Through Storytelling
What’s an excellent way to stand out from other businesses? Storytelling is one of the best ways to enforce your brand. This strategy will help humanize your brand and allow you to connect better with your audience.
Find a way to show your product or service in a more personal way. Even if you are a B2B company, you could still benefit from a good storytelling strategy because the decision-makers behind business enterprises are humans, too.
7. Leverage On Word Of Mouth
Businesses often research a company before establishing partnerships. Companies will always want to ensure that their supplier is consistent about getting high-quality products or services. The fastest way to know about a company is through word of mouth. Sure, word-of-mouth marketing may be a more traditional approach, but it still works, particularly if you are setting your eyes on getting big contracts from your B2B prospects.
That said, don’t underestimate the power of testimonials. In your content marketing, always include comments and accolades you get from your customers. Use case studies that focus on how your product or service impacted your customers’ revenues, operations, or bottom line. Case studies may require more time and effort on your part, but they provide maximum returns for just a fraction of your marketing cost. What’s more, B2B decision-makers love case studies because they’re an excellent way for them to learn more about you, your product, and your company.
Once you have finalized your content, you could also seek the assistance of your employees to spread your content to their social media and other online platforms. Ask them to share with friends and contacts to increase the buzz about your brand and your story.
8. Give SEO And Analytics A Chance
SEO and analytics are some strategies that you may have already employed in the past. If you did, continue to look at trends and new apps that could help make your organic search marketing campaigns faster, cheaper, and even effortless.
If you haven’t tried SEO and similar tools, now’s the perfect time to boost your search engine marketing. This is one of the most reliable ways to help you reach a bigger online target audience.
Competition is tight, especially if you are targeting B2B clients. Don’t rest on your laurels! Consistently evaluate and revamp your marketing strategies and be ready to enforce some changes to remain competitive and increase your market share in the B2B arena.