Digital Marketing for Business-to-Business
Business-to-business marketing is very different from marketing to consumers. How you attract prospects, nurture them, and the sales velocity to close them are often much longer and more complex than a B2C business. Further, the value of a prospective customer is often much higher than B2C so the volume you need to be successful is different but the quality of leads needs to be much higher. The key to B2B marketing lies in a more holistic approach with more care put into personalization and content. Marketing your business becomes a series of activities to market, remarket, and nurture prospects to take them from a stranger to a sales qualified lead ready to buy.
Marketing for B2B involves looking at a much more complex and lengthy buyer’s journey. Looking at how long it takes to generate a lead all the way to how long it takes for a lead to close is vital to the process. Evolving how you get in front of those prospects and what you need to communicate to them to get them to their next stage involves good honest marketing work.
Here are some considerations before you get into B2B Marketing:
- Do you know the value of a qualified lead to your business?
- Do you know your close rate of qualified leads by your sales team?
- Do you know your sales velocity i.e. how long it takes to close a deal?
- Do you know the lifetime value of a new customer to your business?
With this information you can start to craft a buyer’s journey that has the napkin math to deliver transparent results.
What kinds of tactics
can we use for B2B?
This is hardly an exhaustive list, marketing will always be a case by case basis. Some industries generate more leads at trade shows while others get them only via RFP and eligibility. Often these get wrapped up under the title of “Inbound Marketing”.
- Paid Media: Paid ads specific to pain points, features, and benefits of the product you are selling. These can be done via Google, Facebook, LinkedIn, or DSPs like StackAdapt and Criteo.
- Industry Directories: A lot of industries like SaaS and Fintech have directories that a lot prospects find their business on. This includes review sites, RFP directories, etc.
- SEO: To this day, a lot of RFPs lists and vendor searches still happen via search engines. Getting good content that answers real questions around your product can develop among the best quality leads even at enterprise level.
- Marketing & Sales Automation: Once you have a contact, even if it’s not a prospect yet, you need to get the most out of them by nurturing them. Integrating CRMs, marketing, and sales automation tools together can create prospects out of contacts when done correctly.
- Account Based Marketing: This is a combination of events, content, and hyper-targeted marketing tactics that try to get the most out of a smaller volume of potential customers. This involves intense personalization and investment in content.