With the vastness of the domain of B2B Lead Generation, it is difficult to ascertain just one sure-shot way for success. There is no “right” strategy either, for different marketers prefer having different hacks up their sleeve, and all of them work!
Until the recent past, brand positioning was not of much relevance to B2B companies for some reasons such as the price being the deciding factor for decision-making buyers and emotional aspects do not move them, B2B products are complex enough to be reduced to a slogan or punchline. These views are no longer valid and B2B branding has acquired much significance to gain several benefits Here are some of the important benefits of successful B2B branding.
A successful B2B marketing asks for an effective inbound marketing strategy, which focuses on buyers undergoing a different buying cycle, involving a formalized decision-making process. The B2B buyers engage in a lot of research to find their suitable product or service. In the initial stage, they are unaware of your company or products or services. Being a successful B2B company, your objective is to create an awareness and an understanding of who your target buyers are.
For any B2B business, a brand strategy is a crucial factor for a long-term success. If meticulously devised considering several aspects such as your product, niche, market, competitors and customers, it becomes a strong brand strategy. Unlike that of B2C, a B2B brand strategy is more of science than art for the branding audience are generally decision-makers, who look for facts and figures and are logic-oriented.
Retargeting as a business process is gaining much significance and it is presumed that B2B businesses try this marketing practice to bring back the visitors to their website; thus increasing the opportunity to sell. Why do B2B businesses resort to retargeting? The prime reason is owing to the fact that only 8 percent or less than that of visitors to your website convert or buy your product or service.
Inside sales is gaining much prominence today and it is no more making calls and fixing appointments with the prospective buyers and handing over the meeting to the field sales team. Instead, inside sales carries out all the steps of sales process and is growing faster than the conventional sales models.
Anyone obviously knows that to hit a dart board, he or she has to aim. You need to hit the board to score and if your shot hits the bull’s eye, you become successful. Similarly, a B2B organization should have its sales and marketing personnel aim to appeal to the right audience to drive traffic to increase sales. This is possible only if you could define what the right or target audience is?
The traditional ways of doing business are still in a state of limbo across the world, as we are far from restoring normalcy. If we particularly talk about B2B businesses, which thrive on in-person communications and public events such as trade shows and promotional events, it has been a tough going.
Social media has turned out to be the most important platform for building brand awareness and acquiring new customers and for this reason, most businesses, including micro, medium and small enterprises (MSMEs) spend much money on social channels like YouTube, Facebook and Instagram
With Small and Medium Enterprises (SMEs) sector contributing significantly to the economic growth of the country, its importance can never be undervalued looking at the employment, manufacturing and export opportunities it offers. Called the “engine of growth”, SMEs in India are about 43 million in number and comprises manufacturing, packaging, food processing, chemicals, infrastructure, service and IT. They contribute about 8 percent of the GDP, while it is about 45 percent and 40 percent of total manufacturing and exports respectively.