B2B growth marketing can often be tricky, especially targeting the right audience can be challenging – and competitive. Effective marketing can be difficult to achieve as budget constraints, creative limitations & channel outreach play key criteria.
Yet, B2B Growth Marketing, if done properly, can lead to positive results for the business & its growth.
The key difference between B2B and B2C marketing is the nature of the audience. While B2C buyers are impulsive to make purchase decisions, B2B buyers have a calculative approach to buying.
As profitability is the key metric for buying decisions, B2B buying is more holistic in nature, compared to B2C. This makes marketing more challenging & decisive.
Let us look at some of the tips & tricks that will help you to better your chances at B2B marketing.
1.Understanding your brand position
Positioning your brand to the right audience in the right way is crucial. This helps in designing the marketing strategy the right way, that will appeal to both internal and external stakeholders.
2.Getting closer to the target business
Target audience is the key for B2B marketing. If you are not having clarity about the target audience, you might pitch your product to the wrong audience. As a result, the marketing expense will only increase – yet not have any return to the marketing expenses.
3.Performing the competitor analysis
The competitor analysis is also an important step in the B2B marketing tactics. Performing the competitor analysis also means knowing the offerings, marketing tactics, and content strategy used by competitors. Moreover, focusing on the after-sale services of your competitors becomes crucial too.
SWOT analysis of your competitor and Porter’s 5-force analysis of the industry you are targeting can be very helpful. Not only will you get clarity on the external factors, but you will find a vision against which you should create your strategy.
Omni-channel marketing is crucial. Because your target audience can be everywhere, and if you are not targeting them, your competitors will. What is interesting to note is that email marketing is still the most relevant marketing channel for businesses. Having the right CTA & segmenting your mail to the right audience will help to increase the mail open rates by 15-30%.
5.Connect with your audience
Finally, the most important step of the B2B marketing campaign is connecting with your audience. Connect with your audience through social media channels, and give them confidence about your brand, to increase your visibility. Higher visibility increases the chances of improved conversion ratios and better quality of lead generation.
B2B growth marketing can be quite challenging to start with. Yet, B2B marketing is probably putting the best foot forward, if you are looking for systematic growth. Understanding the business model of your firm and capitalizing on it, to better your chances of improved NPS score from your stakeholders, should be your goal. So, strategize your marketing campaign keeping your long-term vision in the picture, and trying hard to achieve it as you keep on moving further in your goal.