With the new year well underway, BNZSA is looking ahead at the top three trends that will influence B2B marketeers in 2023.
The IT industry has been hit hard in the past year with mass layoffs and uncertainty due to the looming threat of a recession. This trend has sadly continued in January 2023 with more companies announcing redundancies. In times like these, it's crucial for businesses to be smart about their marketing spend and make sure their messaging is reaching the right people at the right time and is relevant to that audience in order to generate real sales opportunities and revenue.
To this end, BNZSA is looking at three key strategies that can help you make the most of your marketing budget.
B2B buyers are increasingly expecting a B2C-like experience when interacting with B2B companies. This means that they want easy access to relevant and valuable content and information, as well as seamless and efficient communication and collaboration throughout the buying process.
To meet these expectations, B2B marketers need to focus on creating an omnichannel presence that allows buyers to engage with their brand and access content and information on their own terms. This can include creating a robust website or landing page with educational resources that acts as a content hub. Creating this space creates a point of reference for the prospect where they can be directed to further “bingeable” content, or where they can be redirected to multiple times whether through ads, emails or through their own interest.
Prospects’ content experiences can be enriched by using programmatic advertising on social media channels. By tracking engagement and user behaviour on the landing page, prospects can then receive advertising with tailored messaging based on their user profiles and leveraging data on customer behaviour to push them to additional content relevant to their interests, industry, or job title.
By delivering a B2C-like experience to B2B buyers, companies can not only improve the overall customer journey, but also differentiate themselves from the competition and build strong, long-lasting relationships with their clients.
Creating personalised user content journeys through email content, social media advertising and landing pages, allows marketing teams to gather important data on what interests their customers and helps to identify buying intent signals which is valuable data which can strengthen a follow-up telemarketing strategy.
Marketing teams are often handling leads being generated from various agencies which can lead to a disjointed and inefficient workflow. 2023 is the year where marketing teams will partner with fewer agencies, instead, procuring all their marketing needs from one place.
Gone are the days where one agency handles your social media and digital activity, another handles the generation of opted-in leads which are then passed onto another agency for further qualification, before hopefully being closed by an in-house sales representative. Working with one centralized agency that has the capacity to complete each activity along the sales funnel, maximises marketing efforts. Not only does it provide a more cohesive and centralized insight into the progress of the sales pipeline, but it also creates a seamless flow throughout nurture activity.
When one agency handles every activity, it facilitates a faster follow up as the prospect’s engagement can be tracked and incorporated into a telemarketing campaign. When a prospect’s behaviour shows high engagement there is no lull between the different agencies’ activity, allowing you to capitalize on the momentum and increasing the chance to convert the lead into a revenue generating opportunity.
A "one stop shop" specialist agency such as BNZSA, can provide a full range of marketing services, from content creation, content syndication, digital and telemarketing activity, and even outsourced sales teams to close the deal all under one roof, streamlining pipeline generation from start to finish.
Traditionally marketing has focused on lead generation, and rightfully so. But times are changing and there is a need for campaigns to be more strategic in order to convert leads into revenue generating opportunities. Marketing teams need to look at the entire pipeline to ensure prospects are adequately qualified and nurtured until they are sales ready to not only close the “easy wins”, but to also make sure that nothing is lost from the pipeline in the meantime.
Our research shows that up to 98.5% of leads are lost from the pipeline. This means that marketing spends potentially worth millions of euros is not being spent efficiently, simply because the sales teams don’t have the resources to follow up on everything or there is a breakdown somewhere along the sales funnel.
This year will see a huge focus on quality over quantity and a shift from “lead generation” to “opportunity generation”. One key issue is that “lead” is a generalised term that includes everything from a simple opt-in to a Sales Qualified Lead, but using the term lead itself does not necessarily tell you whether it is real sales opportunity or not.
Simple campaigns that focus on gathering consented opt-ins no longer guarantee a high revenue return. Marketing teams need to focus on creating intricate campaigns with multiple digital and human touch points in order to optimize their pipeline generation efforts.
Identifying and qualifying opportunities that have the highest chance of closing involves applying various strategies along the sales funnel in order to fully engage and convert prospects to opportunities effectively. This can be hard to get right at every step but disintermediation and creating curated content experiences are huge steps in the right direction.