Digital Marketing is the need of the hour for all businesses in the 21st century, whether B2C or B2B. The world is rapidly moving online, and traditional avenues of getting visibility for your B2B business are declining in delivering results. B2B companies have to be present wherever the potential for reaching customers is the greatest; currently, the digital space.
Nature of the B2B Audience
B2B marketing is extremely different from B2C marketing. While the core pillars of any digital marketing strategy are similar, the compulsions that drive the audience are very different.
B2C customers are driven by how the product makes them feel. Individual psychology principles such as fear or desire for better status impact their behaviour.
In contrast, B2B customers are typically purchasing for their organisation. They think about their organisations’ needs and goals, and the motive here is profit and ease of doing business. The pain points are very different. They also look for long-term engagement and consistent service.
Therefore, B2B buyers focus on RoI, the product’s efficiency, how it fits in with their budget and are incentive-driven. The marketing funnel is longer and depends on an efficient sales team syncing with the marketing message to close the deal. However, the seller’s relationship can also be longer, leading to more consistent and reliable revenue streams. The targeting has to be very specific and strategic.
- SaaS companies making CRM software, data tools, etc.
- Marketing agencies
Why B2B Companies should Adopt Digital Marketing
It’s unfortunate, but the print industry has been in decline for a long time, and newspaper ads and yellow pages placements are no longer attracting the right audiences. Even magazines are reporting a decrease in sales of hard copies.
How digital marketing helps B2B companies is by showing the best ways to attract leads. Every new business is now getting a website or a social media page at the very least. There is no better way to be discovered by customers than on the internet.
1. Finding the widest market
Digital marketing for B2B companies helps reach potential customers across country borders. Many Indian startups have experienced phenomenal success by catering to customers across North America, Europe and Australia.
It is much easier to target potential clients through cold emails and contact forms than wait for them to call you.
2. Faster conversions
Digital marketing has become so important that companies are planning to spend $371 on it this year. By having CTAs close to the most convincing pitch on your website, leads are encouraged to get in touch right then and there – unlike the old days when people saw an ad and then decided whether to call while they reached out for their phone.
3. Improve Brand Awareness and Reputation
A good presence across the web serves to improve brand visibility. How digital marketing helps B2B companies is primarily by giving people an easy way to find out if the brand suits them.
Companies can do online reputation management using review generation sites like G2 and Google Reviews. It also gives a new way to address consumer grievances.
4. Consumers went Online
People now spend about 4 hours a day on their mobile phones, and there are roughly 7 million mobile users. Google receives about 3.5 billion searches a day. In this hyperconnected world, there are higher chances of getting your brand to the target audience at any time.
5. Efficacy of Video
Video-based content is growing in popularity both in B2B and B2C segments. 88% of marketers are reporting that video-based content adds to their RoI. There are many sectors where a short video can convey value in a coherent, logical manner far easier than a written piece can. A video can make a sales team’s job faster.
Digital Marketing Success Stories
There are many success stories of B2C businesses using digital marketing to make inroads. upGrad has achieved explosive growth by using digital channels to reach students and executives and onboarded many reputed colleges, making education accessible to all Indians. Similarly, there are some inspiring stories of how digital marketing helps B2B companies too.
Chemstations, a software company, experimented with running ads on LinkedIn, a leading website for professional networking. They started early on and were able to capture attention from many target prospects.
Softbank Robotics is a firm specialising in Human Robotic Interaction (HRI), and they resorted to digital marketing for their autonomous vacuum sweeper. Using a mix of marketing tools and sharpening their content and SEO strategy, they were able to increase website sessions by 845% and saw a similar increase in customers.
Brainshark, a sales enablement platform, engaged Zoominfo to switch persona-based marketing from broad-based digital marketing efforts. The platform updated information and removed inaccuracies to streamline their funnel, increasing lead connect rates by 30%.
Channels of Digital Marketing for B2B Companies
Exclusively relying on one channel is not helpful. Generally, a mix of channels and strategies are needed. The most efficient channels of digital marketing that helps B2B companies are:
1. Content Marketing
Well-researched, relevant content plays many essential roles. It establishes your brand as an authority and informs prospects about the value your product can add (which is very important in B2B). B2B customers don’t appreciate promotional materials as much and are looking for in-depth information.
Hubspot is a popular digital marketing giant because of its valuable content strategy. Today the majority of B2B customers are making buying decisions based on articles and demos.
There are many content types relevant to B2B – blogs, white papers, videos etc.
Search engine optimisation efforts complement a well-chalked-out content marketing strategy, optimises your digital presence and brings you the most likely-to-convert customers. Both on and off-site SEO are crucial for businesses.
3. Social Media and E-Commerce
Depending on the business’s nature, there are various directories and social media sites that businesses can leverage. LinkedIn is one example, while manufacturers of consumer goods who want to sell to dealers and distributors can try Indiamart. Alibaba is another platform that serves B2B and B2C segments.
When prospective clients search for your product, these directories can bring you to them. Networking sites help identify high-potential targets and bring you in touch with them directly. It can also help you target other potential clients if you pitch your service publicly with a clever message.
4. Paid Advertising
PPC campaigns can reach the right customers at the right time. Furthermore, online advertising allows for very targeted delivery to audiences who are already interested in what you have to offer. You should boost the most relevant content through your paid media campaigns.
5. Email Marketing
It is the most relevant and crucial digital marketing channel for B2B businesses. Over 93% of B2B marketers rely on email marketing to engage and pitch to prospects, and 59% of marketers report it as their top revenue source. Email campaigns are the perfect vehicle to show how you can add to your leads’ bottom line.
Tips to Enhance B2B Digital Marketing
Here are a few other tips for how digital marketing helps B2B companies be more successful:
1. Conduct Demographic Research
Study marketplace behaviour and find out what your consumers want. Identify their pain points and what will improve their RoI. Grow your contact lists and segment them to improve the results of digital marketing for B2B companies.
2. Don’t Spam
Most business representatives get thousands of emails a day. Spamming prospects who have not engaged with you for a while and sending emails to people who have nothing to do with your sector can negatively affect your deliverability.
3. Create Content that Inspires
Create well-researched SEO content that genuinely solves your prospects problems and gives them original ideas. It also establishes you as a leading authority in your niche. SEO is the most important pillar of digital marketing for B2B companies aspiring to get bigger.
4. Design a Beautiful Website
Many aesthetic palettes can leverage digital marketing for b2b companies without being expensive. An attractive site makes prospects more likely to trust your brand. When you invest in your product, it sends across an impression of competence.
5. Conversion Rate Optimisation
A good website design and pleasing aesthetics are very important, considering the level of competition nowadays. It complements SEO in ensuring the maximum number of visitors end up converting. Customising the CTAs increases conversions by over 40%. Videos and visuals make a memorable impact.
Align your strategies across different marketing channels and cross-promote content across platforms like social, ads, emails, etc.
7. Use Data
Track your KPIs and use Google Analytics and other data sets to figure out which channels yield the best results. CRO tools like heatmaps are invaluable in identifying what stops your leads from converting to paying customers.
How digital marketing helps B2B companies is by bringing visibility, referrals, sales and prospects. If you are a small business owner and don’t have enough of a budget to hire a huge digital marketing agency or team, upGrad has your back. The Advanced Certificate in Digital Marketing and Communication is ideal for your needs. As your brand grows, you will be able to direct marketing efforts to bring the best results.