10 Reasons Why Digital Marketing Matters Even More for B2B Companies Today
Smartt has helped leading Canadian companies create effective B2B digital marketing plans, from product launches to lead generation campaigns. There are some obvious benefits to digital marketing, such as lower cost to reach larger audiences. There are some reasons why digital is a must-do for B2B marketing, which may not be immediately apparent.
- Executives are relying more on mobile devices. According to a recent study by Google, 7 out of 10 senior executives now use mobile devices to look up product or service information after they first hear of it. 57% use mobile devices to conduct deeper research, and one-third reference information from their smart phones during decision-making. 73% of executives in the survey say a bad mobile experience will make them less likely to do business with the company.
- B2B customers are self-educating. Business buyers now prefer to do their own research before talking to a sales person. Recent studies show that corporate decision-makers get as far as 67% of the way through their buying cycle before agreeing to talk to any vendors. In other words, they’re spending more time gaining specific knowledge to solve their most pressing challenges and delaying sales conversations until they’re confident your company can deliver the desired results.
- Digital makes follow-up a lot easier. Sales experts say it takes 7 to 12 contacts before customers are ready to talk to you. Digital marketing makes follow-up easier, less intrusive, and more cost-effective. Contacts such as pre-scheduled emails, retargeting ads, or personalized offers to Twitter accounts can warm up leads and help them advance through the initial stages of the buying cycle. Well-crafted digital touchpoints build trust, add credibility, and establish an online familiarity.
- Digital lets you customize content based on ‘digital body language’. Sales has always been a linear process. Prospects respond to different messages, depending on where they are in the buying stage and their role within the company. If you talk about your services and pricing too early, you could be viewed as a commodity supplier instead of a trusted partner. If you address problems and challenges but can’t provide proof points, you could miss the shortlist. With digital marketing, you can prepare content for each stage of the buying journey.
- Measure and optimize your results. This is what we love most about digital marketing: almost everything is measurable. You can track every download, every email view, and every click. You can even track mouse movements. You can do this all in real-time. Conversion testing used to take weeks or months before delivering answers. Now you can transfer direct response campaigns to online and start seeing results in hours or even minutes.
- Social proof augments your digital presence. In an increasingly online world, trust is a big factor in B2B sales. Serious prospects will research your company and key staff members via social media to see what other companies say about you. Support this with online content that features testimonials and case studies.
- Digital streamlines complex sales cycles. B2B products and services often require long and complex sales cycles involving multiple influencers and decision-makers. Create personalized content for each user persona that addresses the concerns they might have at each buying stage,
- Digital expands your reach. Most B2B companies already do business beyond their immediate geographic area. The Internet has brought globalization to a whole different level. Many companies search online for better and most cost-effective vendors online - even if they are on the other side of the world. You may be pleasantly surprised when you target other regions or other countries.
- Improve customer relationships - Customer relationships have always been a big part of B2B. Digital marketing allows you to take your CRM even deeper. You can stay up-to-date with the latest changes at your clients' companies, target your key contacts with specific ads, offer advice through your newsletter, and converse with them over social media. Social media has become a viable avenue for staying in touch with customers.
- Launch new products quickly - Digital marketing allows you to launch new products and services quickly and much more cheaply than with traditional marketing. You can send out an email blast to your existing customers, but you can also use retargeting and paid search to ramp up sales quickly. If your new product is useful and unique, you can also promote it over social media and have your fans promote for you. If it's feasible for your product, start or join an affiliate program and get other marketers to send you leads for a referral fee.
Smartt offers a private 90-minute executive briefing with 50 more facts that can make your B2B marketing more profitable. If you are interested in attending this complimentary executive briefing, please write from your company email to: <email@example.com>