3 B2B Marketing Challenges And How To Overcome Them
Like any other marketing method, businesses-to-business (B2B) marketing has its challenges, which are possibly caused by choosing an ineffective marketing strategy, lack of awareness about B2B customers’ needs and preferences, and inadequate monitoring and reporting.
So, how does a company overcome the challenges of B2B marketing? Check the different B2B marketing challenges and learn how to deal with them:
- Investing In Ineffective B2B Marketing Strategy
B2B marketing strategies come in different forms, including utilizing social media, content marketing, email marketing, and paid ads. However, not all B2B marketing techniques apply to all businesses selling products or services to other companies, institutions, and government agencies.
That’s why working with a B2B marketing agency can help you determine the best B2B marketing strategy that’s suitable for your business. Working with a B2B marketing agency helps avoid frustrating communication and wasted money on ineffective marketing.
Here’s how to ensure you choose the right B2B marketing strategy for you:
- Create a B2B Buyer Persona: A buyer persona or your ideal customer is the best representation of the common characteristics found in your customers, which involves demographic profile, buyer experience, shopping behaviors, and preferences.
By developing a B2B buyer persona, you’ll be able to choose the right B2B marketing strategy that best applies to your ideal customer. It’s an amazing way to understand what your customers prefer to take action, which is to avail of your product or service.
- Invest in Data Analytics: With big data that large companies are handling, data analytics conveniently help determine the business metrics or key performance indicators (KPI) than manual work.
With data analytics, like Google Analytics, B2B businesses receive a real-time report on your KPI, such as the number of visitors, or website traffic, and conversion rate, or visitors turned as prospects.
- Fear of Implementing Innovative Marketing Strategy
Finding and providing innovative solutions to B2B clients shouldn’t be overemphasized. With the overwhelming options and tight competition, your company should have a competitive advantage. One way to attain it is to offer innovative business solutions.
However, innovation is such a big word. It would mean lengthy and detailed research and an enormous amount of resources. But you can kickstart innovation by investing in your core tools, such as automation tools.
The golden rule in any innovative marketing strategy is to automate all business aspects that can be automated, which specifically applies to B2B businesses. Automation tools involve software programs and apps that are sophisticated yet easy to use–powered by machine learning and modern AI technologies.
Here are the following innovative automation tools that could benefit your B2B business:
- Use of chatbots in data gathering and customer service. This helps B2B customers to find information, process orders, track results, and other tasks.
- Segmentation involves sub-grouping your B2B customers. It can be automated, which applies to direct a better understanding of the preferences of your ideal customer or buyer persona.
- Automated personalization enables B2B businesses to group customers according to promotions and product preferences. Using customer profiles alter the mobile and web experience of your B2B customers.
- Machine learning can help your employees. B2B customers understand prospective and available innovative solutions by reducing the learning curve through electronic modules and online tutorials.
- Failure to Recognize the Internal Culture and Humaneness Behind the Business
B2B brands are driven inside out and united by a solid brand purpose. However, B2B brands fail to give value to the internal culture and recognize the humaneness behind the business due to the perceived strict professional nature of B2B. Hence, B2B is commonly perceived as formal, organized, straightforward, and no room for human mistakes and system error.
One of the secrets of B2B marketing success is fostering a healthy internal culture. Developing a meaningful brand purpose fosters a B2B relationship. For this reason, it would help to train your sales team for success. Training should include understanding customer journey, honing communication skills, and learning about advanced sales and marketing concepts.
B2B marketing challenges include investing in ineffective B2B marketing strategies, causing wasted money and effort. However, this can be resolved by working with a trusted B2B marketing agency.
Another B2B marketing challenge is fear of implementing innovative marketing strategies due to the lengthy process and amount of money in research and development. This can be initiated by using automation tools.
Lastly, another challenge is the failure to recognize the important role of internal culture and humaneness behind the business in B2B marketing. It can be resolved by continuous sales team training.
Essentially, B2B companies can overcome the common marketing challenges by careful planning and tracking results.
Eric Urcia is still a neophyte in blogging but was able to gain loyal followers through the years because of his unique blogs. Aside from regularly updating his blogs with high-quality content, Eric also partners with other websites to submit guest posts.