Digital marketing has grown significantly in the past year, with more companies increasing their B2B digital advertising spend by about 22.6% over last year. Why? B2B advertisers have a huge advantage in connecting with their target audiences through desktop formats since the pandemic. Although things are getting back to normal, these marketing trends will continue.
Understanding digital marketing is the first step in attaining success. In a nutshell, digital marketing is any form of marketing online or using the internet or an electronic device. Businesses use this form of marketing with digital channels like email, social media, search engines, and websites to connect with their customers. Used effectively, digital marketing helps reach larger audiences that would be more difficult using traditional methods. It is also more cost-effective and data is quickly accessible.
B2B digital advertising spend is projected to increase by 10.9% this year, which is slower than previous years, but the marketing landscape has embraced digital transformation, creating new opportunities for businesses to be successful. Knowing how and when to use the right digital marketing strategies can significantly increase the bottom line while keeping your business ahead of the game. Here are 8 B2B marketing strategies that should not be ignored:
Retention Marketing
If you already have B2B customers, it’s always better to keep them happy, healthy, and on your roster. Marketers are paying attention to their customer relationships, recognizing that when a customer continues purchasing from you, chances are they buy more resulting in a higher marketing ROI. According to the Harvard Business Review, all you need is a 5% increase in your customer retention for a 95% increase in your bottom line. There are a few ways to accomplish this, including new customer onboarding and education, customer training, consistent communication and support, customer appreciation, and surveys and testimonials.
Interactive Content
Interactive content is non-negotiable as it relates to B2B advertising. By having more engagement through interactive content, marketers understand customer tastes and habits. Use social media, videos, infographics, and other relevant information where your customers can find out more about you and your business. Being transparent and having them feel as if they understand you better is a part of your story which becomes crucial to your success.
Nostalgia Marketing
Nostalgia marketing is an asset for B2B digital advertising. This is how marketers relate to the world. There’s nothing like taking your customers on a walk down memory lane, using cultural trends and repurposing discontinued products or services. Nostalgia brings back memories, which forges a connection that makes customers feel good. Reinventing products in digital form is a smart move, creating content that is targeted and true. For example, Intronis used nostalgia in their marketing campaign and had a 35% conversion rate and 650% ROI. Mazda was also successful with their story-driven, multimedia campaign “Driving Matters.”
Buyer Experience
Customer-centric marketing is key in your B2B marketing strategy being successful. With so many B2B buyers being centralized at home, creating interactive, engaging B2B advertising experiences is crucial to keeping customer attention. Using immersive digital experiences based on generational demographics will help tap into lifestyles and purchasing habits, especially with those immersed in a digital-first environment. Mobile also influences over 40% of revenue on average in leading B2B companies.
The channels, thoughts around marketing certain products and services, understanding buyer persona, and how it is advertised in the market is key. B2B buyers should be viewed as standard consumers, with the speed, convenience, correct product positions, and use of tech integral factors in the marketing mix. While customer experience was always a factor in B2C, it has now become a necessary component of B2B marketing strategies.
Video marketing
Video content is a staple in B2B digital marketing strategies and is very powerful in B2B digital advertising. Video content helps customers visualize the buying process, with 70% of B2B buyers now watching videos when they are researching a company and its products or services. Video advertising spend is continually increasing, with marketers utilizing videos to educate and entertain. With this type of advertising expected to grow to $12.66 billion by 2024, B2B buyers can gain a lot from branded videos by understanding new trends while gaining additional skills.
Lead conversion
B2B brands are focusing more on macro conversions in their B2B digital advertising. While eBooks and guides are a great way to engage, digital and hybrid events are gaining traction in securing leads. Using interactive digital events like webinars to increase customer engagement through customized experiences, B2B brands can harness their influence more effectively to drive their customers down the sales funnel.
Podcasts
To date, there are over 850,000 active podcasts with more than half of all U.S. adults listening to one or more every month. This is a great way to reach customers, with ad revenue from Podcasting expected to raise over $1 billion in 2021. This is a very effective digital marketing strategy for brands, as it helps them form deeper connections with their audience. Podcasts are more informal and help with authentic and organic growth. Podcasts focusing on marketing can help B2B sellers grow. In fact, Content Champion from the Content Marketing Institute has been on the air with a huge following for quite some time. This is an ideal way to connect with B2B audiences that are always on the move.
Email marketing
It’s true – email marketing is not dead, and it’s not going anywhere. While emails used to be boring and too long, today’s emails are consistent, engaging, transparent, and trustworthy. It has never lost traction in the market as an effective tool, and it continues to be a profitable channel for generating revenue. Personalizing emails also increase margins. For instance, Zomato has engaging and humorous emails that engage their audience. There are tons of graphics, less content, and 100% engagement. B2B marketers can take a page from this team to utilize in their B2B marketing strategies.
Technology has shifted B2B marketing strategies into a digital-first marketplace which makes it crucial to understand the trends and tactics that work. Partnering with a company that can infuse strong B2B digital advertising and marketing strategies like these into your brand will keep revenue flowing and your brand at the front of the line.
Are you ready to make an impact and stand out from the competition? Digilant’s marketing services can help get the results you want now! For more information on how we can help your digital marketing strategy, contact us today.