Effective marketing is challenging to get it right. Between creative demands, budget limits, and channel decisions, marketers have a lot to juggle when developing their marketing strategies. You can create a marketing strategy only with your specific customer in mind. It needs to take into account your business, your positioning, and unique value proposition, and the resources you have available for marketing. And it requires a flow from your current position and situation as a company.
In other ways, marketing can be challenging. Although the objective may be similar, the means at the marketer’s disposal for achieving them are continually changing. What was the most innovative last year is standard pricing for the current year, what works today may not work in six months.
What is B2B Marketing?
B2B stands for Business to Business. It’s business that works directly with another company not with the general public. B2B marketing targets the needs, interests, and challenges of individuals who are making purchases on behalf of, or for, their company, rather than themselves, thus making the organization the customer.
B2B Marketing can be a challenging process. There are many things a company might miss out on while developing its marketing strategies. That is why it is essential to keep a finger on the pulse of current and future trends. With that in mind, here’s our rundown of the five most crucial B2B marketing strategies for the year 2020.
1.Have a Formal Plan for Marketing your Product/Service
Nowadays, more B2B companies are using formal plans to guide their branding and marketing. Around 66% of the B2B marketers reported using a structured marketing plan last year, taking a more planned and proactive approach to tactics, rather than a sporadic and reactive approach to the marketplace.
2.Partner with a Marketing Agency
Around 63% of the B2B marketers report using a marketing agency to handle some or all of their marketing programs. For small-to-medium-sized businesses that cannot afford to build out an entire marketing department in the company complete with certified specialists, strategic marketers, and subscriptions to the numerous tools and platforms that make a marketing platform run, an agency is often the way to go.
3.Create Visual Content
The input of images and videos in your content will help endorse brand awareness and brand recall. According to numerous studies, visual recall is stronger than text or audio. When people hear a bit of information, they tend only to remember 10% of it three days later. But when you put a picture to the same information, they can retain 65% of it after three days.
B2B buyers use a throng of mediums to research and discover their purchase options with the web, precisely with social media leading the way. This highlights the need for our marketing messages to be accessible across an array of mediums, not just email. Therefore think multichannel.
5.Develop Strategic Marketing Objectives
Compared to higher revenue B2B companies, low revenue companies are more likely to view the marketing team as an addition of the sales organization, and not as a planned asset to the company. For large accomplishing B2B marketing organizations, they develop marketing objectives, not sales plan, that inform their company’s business strategy to help distinguish their brand in the marketplace.
When building a B2B Marketing Strategy, initiate with your sales funnel. As a B2B company, you may have several sales funnels. Whatever your sales funnel looks like, it is essential to map out your sales cycle and how it tells the buying journey of your customer. With a B2B marketing strategy, your primacy should be lead generation. B2B lead generation means obtaining those customers who might be interested in learning more. You need to know that leads don’t begin as leads. They start as strangers, and you will try to attract them until they become visitors and they convert them to leads.
Here is a pictorial demonstration for you to understand.
Once you get these leads, you will change them through your sales funnel, and ultimately, they will become consumers and then advocates for your brand.
To complete this process, you need to adopt the B2B marketing strategies for your business.
We at Commitbiz are a platform to help you incorporate a business in the UAE. Should you decide to start one, contact us. We’d be happy to help you.