Why Digital Marketing is Important to B2B Business

Why Digital Marketing Is Important for B2B Business

The first thing you need to know about digital marketing for a Canadian or US based B2B business is that it can be one of the most powerful revenue drivers for your company.

Creating a B2B digital marketing strategy is not a straightforward task. However, the rewards of implementing a holistic digital marketing strategy can reap dividends in the long term.

B2B Digital Marketing Tactics

B2B transactions involve a huge network of suppliers and service providers. It also involves a greater degree of trust and loyalty, which is why it is important to have a positive interaction with a potential customer across every touchpoint. Your future customers in Canada are beginning their purchase journey online, making digital marketing for B2B businesses an integral part of the marketing toolkit.

In order for your B2B venture to succeed, you need to ensure that you make a good impression on your buyers, which are individuals in a range of roles within the  companies they work for. From purchasing, to finance to various functional areas, many people can be involved in a buying decision. Digital marketing crafts strategies to reach and influence them at each stage of the buying cycle.  And since they are a part of the industry themselves, their standards and expectations are usually quite high and refined. Everything from the landing pages to the case studies right down to the blog posts plays a vital in influencing your customer.

So – what do you do? How do you ensure that your target audiences that comprise more than one type of B2B buyer are not only satiated but also impressed?

Digital Marketing for B2B Business

Digital marketing for B2B business. That’s your answer! It is essential for you to strain your focus towards a B2B digital marketing plan if you want to ensure that your company stands out from other B2B companies, has the perfect brand awareness levels, and is also sorted with lead generation.

Why Digital Marketing is Important to B2B Business

The Benefits of Digital Marketing for B2B Business

1.    Adapting to a new digital reality

The pandemic has coaxed more and more to rely on the digital sphere to get everything done – especially in the corporate world. Businesses are increasingly conducting business online – from searching for new customers to meeting new customers and finalizing deals. In this new reality, the internet and digital platforms are the primary modes of business. This makes a thorough understanding of B2B digital marketing tactics very important.

From digital advertising to creating mobile-first content, there is a huge advantage to connecting with your audiences online!

Well executed digital marketing for B2B business means conveying your digital marketing tactics and professionalism to the client. With just one click, your customers can get access to who you are as a business. If your digital marketing strategy is well-crafted and has the type of content your audience wants to see, they are more likely to trust you as a brand and invest in you.

Adapting to this online-first world means rethinking the way your customer journeys have changed since the pandemic. Embracing digital marketing quickly and growing an online presence can lead to more sales and market share growth.

2.    Growing competition

In recent years, the Startup culture has almost completely taken over many industries, is replacing other industries and has caused a shift in market dynamics. This means that it is easier than ever for anybody to start a  business – even a B2B business. And since many Startups are now digital-natives, they have the advantage of using social media channels, email marketing, SEO efforts, and content marketing! There’s a lot to learn from this new cohort of startups!

Keeping digital marketing at the heart of your marketing approach can help you quickly navigate new business paradigms (as a result of the pandemic) and also give you an edge against your competitors, creating a level playing field.

Not only that, but new businesses coming out also means that the market might potentially expand, creating more room for growth albeit if you can compete effectively. And you can only do that if you are technologically (read: digitally) advanced enough. So – online marketing is pretty much indispensable.

3.   Increased proliferation of business-specific social media channels

More and more businesses are interacting with each other on social media these days, which means increased dependence on social media. Social media platforms like LinkedIn are leading the pack when it comes to scouting for new B2B customers and positioning your brand in front of the right people.

In that regard, there is an opportunity for you to create a captive audience on these B2B social media platforms. Your marketing channels should be reflective of social media marketing, as this sits well with where your clients are.

There are multiple marketing objectives that you can achieve using these social media platforms:

a. Establish and grow your brand presence – the Canadian B2B landscape is diverse and reaching the right prospects early to build your brand presence can be a boon to drive demand generation.

b. Formalize a communication framework – with a multitude of channels and formats available online, digital marketing helps you to formalize a communication approach through each of these channels. What might work for one channel, might not be the best for the next!

c. Nurture leads for the long-term – capturing leads across channels through focused targeting and audience profiling can help your sales team close more deals. Moreover, you can even nurture these leads over the long term via the right content to nudge them forward in the funnel.

d. Analyze and optimize – the greatest advantage of digital marketing for B2B companies is the ability to analyze campaign performance, target improvement areas, and optimize your campaigns. All of this can happen almost in real-time and you can get to see results rather quickly in most cases!

4.    More cost-effective than traditional outreach

Spending money on traditional outreach, as compared to digital marketing, is likely to be more detrimental as it is not as effective. With digital marketing, especially with things like pre-scheduled emails, retargeting ads, personalized offers, and other automated elements, you save not only time but also money.

Let’s look at some B2B digital marketing tactics that can help optimize your marketing spends for the most Return on Investment –

a. Retargeting prospects beyond your website – your customers are not just looking at your website when it comes to purchase behavior. They evaluate multiple online channels before coming to a decision, and retargeting can help you improve conversion rates by showing your content outside of your website too.

b. Social selling for thought leadership and lead generation – B2B customers exhibit sophisticated purchase behavior, consuming content from multiple channels before reaching a decision. Social selling is a great tool for your sales team to be where your customers are by sharing content that caters to their pain points. Through social selling you can expand your market, contact customers across the buyer’s journey, improve sales efficiency, and build thought leadership!

c. Using pay-per-click to capture the right audience – pay-per-click advertising is a must for small to medium-sized businesses in Canada. It gives the most value per dollar and can get your message in front of the right audience quickly. Be smart about your keywords and bidding choices, and you can very quickly start to see the leads coming in.

Therefore, if B2B businesses want to pave their way to the top, it is imperative to turn towards B2B digital marketing strategy.

d. Email marketing to maximize value – email marketing is practically free if you have a healthy mailing list. It has one of the highest ROI of any marketing tactic. Being mindful of your message and only reaching out to customers that have opted in can ensure success.

5.    The evolved customer

In recent years, your customers are way more empowered than they were 10 years ago – even though they are businesses themselves.  They want things, and they want them fast. In this regard, it is important to provide them with seamless integration of the business and digital channels. For example, if pay per click is being utilized, it must be utilized in a way that resonates with the customer and fulfills their needs. This means optimizing your landing page to help the lead talk to a sales rep in a few hours.

In fact, your overall customer experience is contingent on how well you accommodate your clients digitally, and therefore, it’s high time that you developed a B2B digital marketing strategy.

Final Takeaway

Hope the tips in the article help you improve your marketing efforts to be better than your competitors’ digital marketing for B2B  business. Here are a few key takeaways from this blog –

  1. B2B digital marketing is a great way to build your brand, generate leads, and optimize your marketing spends.
  2. Customer journeys are now mostly online, and it makes sense to have a digital presence on social media to communicate with them effectively.
  3. Digital marketing can help you move leads across the funnel by creating targeted campaigns at each stage.
  4. Digital marketing allows for more nuanced targeting and better analysis of your marketing efforts, thus helping you to reiterate quickly.

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