Marketing has evolved considerably, especially when it comes to digital marketing. Companies are continuously on the lookout for new ways to attract and retain customers. This has led to extreme competition. B2B Marketing has always changed significantly and companies are always searching for a new B2B marketing strategy to adopt.
MQL Vs SQL
Chances are that you are thinking about MQL vs SQL. It is vital to know the difference between the two. MQL looks at a lead that is more likely to convert into a customer unlike other leads based on lead intelligence. It is conveyed by closed-loop reporting. On the other hand, SQL refers to the sales team having qualified a lead as a potential customer.
Generating traffic and leads is one of the biggest challenges for digital marketers. The means through which marketing objectives are to be achieved are constantly changing. What might have been effective last year might not be effective now. This is why marketers need to check out the latest B2B marketing strategies. This post looks at the most effective B2B marketing strategies for 2020.
Account-Based Marketing (ABM)
Normally, marketers only focus on bringing leads. The more the better. However, that might not always be the best strategy. Account-based marketing (ABM) on the other hand is more effective as it allows you to concentrate on targeting a specific set of accounts such as a company or a group of buyers. Under an ABM strategy, content and campaigns are created to specifically target prospects. It allows for a closer alignment between sales and marketing. Marketing and sales teams must be aligned to generate more money from each deal, for greater brand awareness and to generate more revenue.
Live Chat Conversational Selling
Normally, people tend to mistake live chat for dealing with complaints. Although it is an extremely effective customer service channel, live chat experiences tend to offer customers a better communication channel that is personalized. Moreover, live chat is the most comfortable and fastest way to respond to customers. With some effort, live chat offers great potential. It is a productive sales channels. With more and more people going online, live chat is set to take over customer service and marketing.
Word of Mouth Marketing
Word-of-mouth marketing continues to be an effective way to market the products and services of a business. It offers longevity. Research shows that word-of-mouth influences a majority of all purchasing decisions. It plays a key role in convincing customers to make a purchase. Word-of-mouth marketing is not about hoping customers will refer to you positively. It is important to have a plan, whether it is by providing an email template or rewarding referring customers. A referral program is crucial due to the following reasons.
- It is about common sense. Sometimes, a nudge is just what customers need to refer your business, even if the product or service delivered is world-class.
- It shows that you are confident in your product.
High-Value Long-Form Content
Effective content marketing offers three times more leads as compared to outbound marketing and costs significantly less. However, not all content is equal. Long-term content tends to provide much better results. Longer posts are more effective at generating leads. Now that does not mean one should write 4,000-word articles and expect results immediately.
Marketers need to drop the “write it and they will come” mentality. A great amount of B2B content goes unused which is simply a waste of money, effort and time. Content marketing must be about creating high-value pieces that directly contribute to the sales efforts of the organization. Focus on creating product demos, webinars, case studies and anything that looks at specific prospects. It is an effective approach that attracts potential buyers.
Just some years ago, various articles filled the web claiming that email marketing was dead. But, that is no longer true because email marketing is back. It is one of the most effective digital marketing tactics. Good email marketing is not just about sending a few messages to potential customers and waiting for leads. To make the most of email marketing, the email list needs to be segmented. Targeted email messages need to be sent. Layered marketing is a great example. Segmented email campaigns offer the following benefits.
- Lower unsubscribed rates.
- Lower occurrence of potential abuse reports.
- More clicks.
- Higher unique opens and open rates.
- A lower bounce rate.
Creating Authority Through Thought Leadership
Thought leadership offers expert opinions to potential customers on issues related to the field. It is an effective marketing technique. Thought leadership offers several businesses with a viable approach. It reaches the power brokers in the industry. The benefits of thought leadership are there and it is only a matter of time when businesses realize its potential.
Influencer Marketing, Speaking and Guest Posting
Influencer marketing, speaking and guest posting have a common theme and have more in common than one might think. They leverage the authority of third parties to promote the product or brand of your business. If done right, these three can be extremely effective at growing your business. The main focus of these three is to take advantage of external platforms such as a social account, event or website to generate an audience.
Employee activation is a marketing strategy that is waiting to be actualized. Unlike what most corporations believe, employee activation is not about asking employees to share blogs or press releases about the business. That can rather be defined as employee advocacy. Employee activation goes beyond that and it leverages the engaged workforce to create and share content organically as per their interests.
In some ways, employee activation is quite similar to word-of-mouth marketing as it cannot be achieved by sitting back. It requires continuous effort. The truth is that employees can amplify the marketing efforts of the business. Employees on aggregate have ten times as many connections as the company and their re-shares are extremely effective.