B2B marketing has grown tremendously over the years, especially with the rise of the digital era. The unlimited access to the internet has helped business owners tap into new markets and develop solid marketing strategies to sell their products or services to other companies almost seamlessly. In fact, 50% of B2B search queries are made on smartphones and will grow to 70% by 2020.
B2B marketing continues to be a top business initiative for business owners globally, and business owners are focused on scaling their marketing strategies to see better sales results. For this reason, we’re going to discuss common marketing strategies that businesses are taking advantage of, and how much of an impact these strategies have on businesses’ success.
Business owners are tapping into what the internet has to offer. SEO, content marketing, PPC, and Facebook ads are just some of the options available to help business owners get directly in front of their target audience.
SEO is the foundation of marketing for the B2B industry. In fact, 61% of all B2B decision-makers start their process with a web-search and 71% won’t have a conversation with a salesperson until they undergo their own research. This means that business owners need to establish a strong presence online. It’s important that businesses leverage SEO to optimize their website so that their company can be found by their target audience and that, in turn, they can sell their products or services to other companies.
SEO makes the greatest impact for businesses when it comes to lead generation, which is why more business owners have made SEO a top priority in their marketing strategy. HubSpot conducted a survey where 61% of marketers say improving their search engine optimization and growing organic traffic is their number one inbound marketing priority.
2. Content Marketing
Content marketing is one of the biggest marketing trends that is expected to grow for B2B businesses. In fact, 39% of B2B marketers will increase their marketing spend within the next 12 months. Content marketing helps businesses establish authority, spread brand awareness, and drive solid leads. This is because business owners can deliver valuable information to other companies without pushing their services on to them.
Providing valuable and engaging content consistently leads to more sales for business owners globally. In fact, content marketing generates over three times more leads than outbound marketing and costs 62% less. For this reason, 88% of B2B marketers utilize content marketing as part of their daily promotional efforts, and on average, B2B marketers spend 28% of their total marketing budget on content marketing.
PPC ads are designed to help businesses grow and expand their brand’s awareness. PPC ads increase traffic, and increased search engine traffic results in paying leads. This is why businesses continue to invest in PPC ads to promote business growth. In fact, 65% of customers click on ads when purchasing, and PPC traffic converts 50% higher than organic traffic.
Businesses use pay-per-click ads to sell specific products or services to their target audience. In fact, 72% of businesses plan to increase the scale of their PPC marketing. These ads provide precise results as they can get directly in front of people who are already interested in their product or service and can boost brands’ awareness by 80%.
4. Facebook Ads
The estimated number of monthly active Facebook users is 2.20 billion with an average time spent of 40 minutes per day per user. Additionally, more than 30 million businesses are on Facebook. For this reason, business owners rely heavily on Facebook in 2018 for their B2B marketing as business owners consider Facebook the top social media platform for their marketing efforts. In fact, 95.8% of social media marketers say that Facebook brings the best ROI compared to other social networking sites.
Facebook advertising is the most targeted form of advertising as businesses can define their market by age, interests, behavior, and location. Additionally, Facebook ads are effective because it is one of the cheapest ways to advertise and still gain a considerable reach. The average CPC for businesses using Facebook is $1.72.
What challenges do B2B businesses face with marketing?
Business owners strive to strengthen their marketing efforts to get better results that generate solid leads and more sales. However, these efforts do not come without a few challenges along the way.
One issue that some B2B business owners face is that their website isn’t mobile-friendly. Having a mobile-friendly website is essential to successful SEO optimization in 2018. In fact, only 50% of B2B organizations have mobile-friendly sites. Businesses need to stay ahead of current trends and that means catering to the mobile market. With users spending 69% of their media time on smartphones, it is important that businesses ensure their websites are responsive for mobile users.
Another issue that businesses face is that they aren’t standing out among competitors, causing them to lose out on potential sales. This issue derives from the fact that the internet is saturated, often making it difficult for businesses to get in front of their target audience.
Business owners need to put a lot of emphasis on content marketing and ensuring that they are creating content that is relevant and adds value to their audience. Additionally, businesses need to focus on multi-channel marketing to increase their visibility and attract new clients. In fact, brands with multi-channel marketing strategies see an 89% retention rate.
Many businesses are also struggling with building trust, especially online. However, trust is what will separate you from your competitors and help you gain loyal customers. In fact, 83% of consumers said that they would recommend a company to others if they trust them.
This means that businesses will not only need to focus on being ever-present online but also focus on the customer experience. Customers have specific demands and they are only interested in working with companies who are willing to meet them.
B2B marketing will continue to evolve to meet the needs of customers. Businesses are constantly experimenting with new marketing trends to get in front of their target audience, gain a competitive advantage, and generate sales.
If you have any questions on B2B marketing or want to know more about how Credo can help grow your business, contact us below.