The past few years have seen a massive shift in how customers are interacting with businesses. The internet has evolved rapidly and thanks to current tech advancements, a new market has emerged.
While traditional marketing methods are slowly on the retreat, digital marketing has become more mainstream than ever, and already a norm for many successful B2B businesses.
Be it an SMB or a large enterprise, B2B companies today are leveraging digital media to reach more audiences, boost sales and expand their visibility online. Which means, if your company is not participating in digital marketing right now, your company’s future growth will take a blow.
Here are 6 reasons why B2B Companies must ramp Up their digital marketing efforts to stay relevant and Grow in a highly competitive online Marketplace.
Reason 1: Customers have become smarter
Not only has the B2B buyer been changing, but the B2B process has evolved drastically too. Buyers now expect the same kind of digital experience that one would encounter during a B2C sales cycle.
As per a report from Forbes, recent studies show that corporate stakeholders get as far as 67 percent of the way through their buying cycle before talking to any vendor. Which means today’s B2B buyers are more active in the early stages of the sales process, and make numerous online searches before contacting a potential supplier. They are actively looking for solutions to their pain points, and are prompt with their research.
Hence, companies are updating their B2B digital marketing strategy to provide a superior and engaging online experience to capture the buyers attention, guide them along the sales funnel and eventually convert them into sales.
Reason 2: Smart devices have captured the world
A huge portion of your company’s audience owns smart devices, and they use it for study, for research, to look you up, and so on. With access to a sea of options online at the touch of their fingers, it’s easy for buyers to go looking somewhere else for what they want if your company fails to provide a seamless experience across smart devices, and confuses the buyer with
complex info or navigation. And, a drop in buyer interest translates to a drop in sales.
Reason 3: Easier and cost effective than traditional outreach
A well received fact about digital marketing is that even small companies can enter the playing field to compete with big brands and have access to the same audience and tools. In short, business outreach becomes more affordable and effective.
With multiple customization possibilities like personalisation, retargeting, pre-scheduling, real time insights, etc. brands can receive the most value for their money and also understand their customers better, thereby pushing them further into the purchasing cycle.
Reason 4: Sales cycle shortens and becomes more agile
Since B2B transactions take place over longer time periods, it’s essential to develop mutual trust from the get go. Today when multiple decision makers are involved in a typical B2B sale, it helps to custom tailor and personalize content for each of them with respect to their positioning in the buying stage. This makes their buying journey simple, relatable and short.
A solid B2B digital strategy ensures your company can keep growing trust and entice action out of people at each digital touchpoint, while generating maximum return ROI for your investment.
Reason 5: Customer relationships improve significantly
Online marketing enables clear, targeted and personalized dialogue with customers, allowing businesses to know their customers, understand their needs, build trust and serve them better. When customers trust and like your brand, they decide to buy.
Reason 6: Measuring and optimizing is super fast
What gets measured gets accomplished, and in the digital landscape, businesses can track each aspect of their actions to see what’s working, how much of it, and what’s not working - all testing, optimization and analyzing can happen in real time, even in the midst of a campaign.
The digital marketplace is thriving with innovation, and businesses scale when they know how to use it best. The world is online, and having a robust digital marketing plan is critical to help your company grow in today’s age.
When done right, your B2B business can receive heightened engagement, higher customer satisfaction, more sales conversions at much lower cost when compared to traditional means.