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Video Transcript: Winning B2B Marketing Strategies for 2019 and Beyond!
B2B marketing is very different to B2C marketing. When you’re selling to businesses, the sale can take a lot longer. There’s also a lot more at stake. It’s not like an individual buying a pair of sunglasses. There could be thousands if not millions of pounds or dollars at stake when you do a business-to-business marketing decision. If you’re a business owner or you’re someone within a business function, and you’re going out there to find a new supplier, the marketing process to that individual within the company is very different.
In this video, we’re going to go through the main factors when doing a B2B marketing campaign, what to look for, what to avoid, and what to really go ahead and press on with, and what to measure as well. All of that and more coming up.
Darren Taylor: Hey, guys, Darren Taylor of thebigmarketer.com. My job is to teach you all about digital marketing. Now, if that’s up your street, you should consider subscribing to my channel. In this video, we’re looking at B2B marketing strategies and what you really need to think about for B2B in 2019 to take your strategies forward. Let’s get started with the very first thing you need to remember for B2B. The first thing to remember is that last click is meaningless.
Now, of course, this should regularly apply to B2C campaigns as well, but even more so in B2B because the sales cycle is so much longer. Can you imagine the touchpoints it will take for a big business to change a supplier of, for example, its photocopiers? Now, imagine the actual process of doing that. The buyer within the business, whether that’s an office manager or someone who looks after that in-house within the business, will go on to Google, type in photocopier companies or things like that.
They go on there, they might download some literature. They’ll go back. They might follow them on social media. They might see them again in another marketing channel. They might get an email after downloading that piece of content. All of those touchpoints all have to be taken into consideration. You can’t just assume that just because the final touchpoint before the person went and chose your business as a supplier is the reason they converted. You can’t assume that because all of those touchpoints between the start of the journey and the end of the journey, they have to have a waiting.
The one thing you can do is look at your Google Analytics. In the report I’m going to show you, you can go in there and actually start to see the trends within the touchpoints of your business within the different channels and campaigns, and see the impact they’re having on your conversions at the very end as well. I’m here in Google Analytics, and what you guys need to do is head over to your conversions report.
When you log into your account, head down to the side menu and head over to the conversions tab. Now, when that opens up, you need to go through to multi-channel funnels, and then go to the assisted conversions reports. Now, in the assisted conversions report, you can see by channel what the assistance of each conversion is. You’ll see all of your channels here from paid search, organic search, direct, display, referrals, social networks, and emails, and of course, you can customize these lists as well for Google Analytics.
With the basic setup, you can still get a lot of value out of this report because it shows you all of the channels here, and it shows you how many assisted conversions each channel has provided in a given time period. What you can do is start to understand the actual way some of these channels impact your conversions. You might think to yourself, for example, “I’ve looked at my display campaigns, and they’re not generating very many conversions in terms of the last click conversion.”
Right at the end, when you look at your conversion reporting, you might find that it has not really contributed much, but in actual fact, if you look at the time period we’ve looked at for this particular report, you will see display campaigns have contributed 982 assisted conversions. When you’re looking at a B2B strategy, this could be a great area to look at and actually study because this will tell you whether or not a channel is contributing in the long term.
Because this display campaign could be retargeting, for example, or could be just a performance display or programmatic campaign, this could have contributed significantly to the user at the very end of the journey. In this instance, you wouldn’t stop doing your display activity because it’s contributing overall to the customer journey. Hopefully, that example will give you a good understanding of where to look within your Google Analytics accounts of where to find, specifically, which channels are contributing to the overall customer journey.
Now, in addition to that, one thing I did mention, of course, was last click becomes obsolete, which it should be anyway, but specifically for B2B. In addition to that, because last click is obsolete, what do you do for the first click? Well, the easy answer to that is, of course, to create a free asset for the business to look at. If you’re a business selling to another business, the decision-making process is very tough.
You have to find a shortlist of the businesses you want to work with, and then you have to see which business you want to work with will provide the most value to your business. A great way for you to do that as a marketer within a B2B business is to provide a free sample essentially of the kind of level of service and the quality you can produce. Now, the way you can do that is to create a white paper or a webinar around the specifics.
Let’s go back to the photocopier example. If I’m a photocopier company and I’m selling to other businesses, maybe the free asset I want to give away could be around a specific case study on how much businesses have saved using our particular brand of copier with maybe a tool in there that they can calculate how much they save per page, or something of a value add that will give the user some more information about the decision they’re making.
Not something led by specifically your sales pitch and your business and what your business can do, but in terms of an overall value add to that business looking for your services. Again, a tool that could potentially show them the kind of money they would save by inputting their own figures and generating the kind of response there. That wouldn’t necessarily just apply to your business. It could apply to a number of other businesses as well.
Let’s put it this way. I’m on YouTube right now creating content for business people to dissolve. Now, of course, that means I’m adding value hopefully to you guys for watching this video, and then whenever something comes up where you need help with your marketing, you’d think of me ahead of potentially other people. That’s the idea, and that’s how it should work on a B2B capacity.
Another thing to really think about with your B2B marketing strategy is the cost per sale. Now, of course, if you’re thinking something like Google Ads, which is very simple to measure where you spend an X amount of money, you can see how many sales you’ve made, and you’ve got a great and easy understanding of the cost per sale. Let’s start layering that in a B2B strategy.
You know your Google Ad spend, you know how much you invest in SEO, you know how much your email platform fees are, you know how much it costs you to employ someone to do your marketing, and you know all of these costs within your business to nurture somebody, which could take months or weeks to do within a B2B strategy.
Working out the costs within that whole process of first touchpoint all the way to sale is really important because when they get to this end where they’ve actually become a customer, you want to make sure it’s profitable. You want to make sure this person was bought into your business at a profit as opposed to as a loss. Measure the costs you’re spending across your whole marketing funnel.
When you’re funneling people through the whole process from when they first download a piece of content or interact with you on social media, all the way through to potentially becoming a sale, make sure you can track the value in the spend within each of those areas. A CRM can really help you do that. You’d be able to see all of the different touchpoints people have.
Outside of just Google Analytics, a CRM will let you see all of that detail in a single customer view as well if it’s set up correctly. Be sure to include that in your strategy as well. Finally, one of the main things in 2019 I think businesses need to be aware of when marketing to other businesses is the fact that digital alone is not enough. You need to get on the phone.
Now, that might be really counterintuitive for me as a digital marketer who loves digital and loves automation and loves the idea of interacting with customers on a digital capacity. It might sound really counterintuitive for me to say that, but if you’re dealing with businesses in a long buying cycle, if you’re not speaking to your prospects, somebody else will. You need a sales team. There’s no way around it. You need to be able to pick the phone up and speak to your potential customers.
Now, imagine a scenario where a customer comes into your business because they found you on an initial Google search. They’ve downloaded a piece of content by giving their email address to you in order to get to that content. You now have their email address. You start marketing them for your CRM, sending them emails on a regular basis. You can see all of those touchpoints in Google Analytics, and you’re going to get an understanding of what’s happening with that potential customer with your CRM as well, but imagine how much easier and quicker it would be for your customer to get answers if you just gave them a phone call.
Now, I know a lot of marketers hate making phone calls. In a small business capacity, sometimes, the marketer has to step in and make a phone call. Sometimes, the business owner has to step in and make those phone calls, but ultimately, somebody needs to get on the phone with the customer because they are going to be in a position where they’re making that decision, looking at all of the options they have available from other businesses as well, and if you can persuade them that your option is the best and you’ve supplemented that conversation with the value add you’ve already given, with a positive digital experience, then that’s really going to help you nail down that customer.
You’ll get them on board, and then from there, you can grow your business that way. Just to summarize this video, first of all, number one, eliminate those first clicks as an attribution model. Forget that because, ultimately, it’s all about the whole journey from beginning to end for the user when they’re buying on a B2B campaign. In addition to that, make sure you’ve got some nurturing and automation in place to make sure that you’re sending customers email.
Provide a high-value asset for them to download, whether it’s a webinar, whether it’s something around a white paper, a case study, or something of value that the user would go out of their way and be happy to exchange their email address for in order to get them into your system. From there, you can start to send them emails, nurture them, send them more information, and then see what the interactions they have.
Be sure to use your CRM to get that single-customer view in order to make sure you can see specifically what they’re doing throughout the whole process, see which pages they’re visiting, and use analytics to see which touchpoints people are using most regularly as well and seeing how they attribute towards your revenue. In addition to revenue, you need to make sure you know the costs of your funnel as well.
Think about all of the touchpoints and all of the tools you’re using, including the cost of creating assets to market in the first place. All of those costs need to be factored in within the business as well to make sure you’ve got a good, profitable business, and that that customer at the end is someone you’ve brought on via a profitable channel. In addition to that, get on the phone, speak to your customers, have a conversation with them throughout the whole process.
Obviously, don’t bombard them with tons and tons of phone calls, but be sure to include phone touchpoints in the process as well because that’s going to be really important to bring in those customers on board. That, in a nutshell, is where B2B marketing should be in 2019 and beyond. Thank you guys so much for watching. If you like this video, please leave a like below.
Let me know in the comments if you’re struggling with your B2B marketing, what part of the funnel you need help with as a business, and I’ll be more than happy to help you. I reply to pretty much every single comment I get when I get comments on my videos, so please be sure to hit me up in the comments. More important than that, check out the other content on my channel. Don’t forget to subscribe, and I’ll see you guys on my next video.