Modern B2B Marketing: How to Overcome the Challenges that B2B Marketers Face
Though all marketing can be challenging, B2B marketing, in particular, has its own unique struggles which marketing teams must overcome.
The Covid-19 pandemic brought about significant change for marketers, turning traditional marketing strategies on their head with events, conferences and trade shows cancelled or moved online and business professionals working from home instead of at their office desks. And while we have seen some return to normality, a number of shifts still remain. So how can B2B marketers overcome the challenges they face in 2022?
A shift to digital-first marketing
One long-term consequence of the pandemic is a review of the channels B2B marketers use. Traditionally, B2B marketers have relied on events, print, email, and telemarketing to create awareness, generate leads, and support their sales teams in closing deals. Yet, statistics show that only 21.5% of sales emails are opened on average and telemarketing can be equally as problematic as it takes eighteen calls to connect with a buyer.
With this in mind, according to Salesforce’s State of Marketing report, 89% of the B2B marketers surveyed had at least somewhat changed their marketing channel mix since the pandemic began to meet new challenges and a shift in behavior. Social media has become much more prevalent, with 91% of organizations using this channel, and video content has grown as a format, with 90% of those surveyed indicating they use this format to engage with their customers.
As a leading digital data provider, LBDigital can support B2B marketers in their shift to a digital-first marketing strategy. If you’re looking to reach business decision makers on social media, across the web, CTV, audio, mobile, we can help.
Embracing data-driven advertising
In addition to focusing on digital channels, advertising has become an increasingly important line-item in B2B marketers’ budgets, accounting for up to 19% of investment. This makes advertising the category with the biggest share of spend in B2B marketing in the post-covid world.
78% of marketers say their customer engagement is data-driven. Yet at the same time, B2B marketers are not satisfied with the marketing data available to them. This survey shows only 43% of marketers are completely happy with the quality and hygiene of the data and only 40% are happy with its completeness.
Luckily, this is where LBDigital comes in. Having once again topped the charts with the most segments scored #1 for accuracy by Truthset, LBDigital should be your go-to choice for marketing data. We understand that accurate data helps B2B marketers to market more efficiently with better ROI, saving significant marketing spend.
Dealing with longer lead cycles
Another challenge faced by marketers is longer lead cycles. According to Statista, 57% of B2B tech vendors claim that sales cycles have become longer as a consequence of the COVID-19 pandemic. In order to combat such long cycles, B2B marketers are having to rely more and more on multichannel lead nurturing programs. And with multichannel customers spending 3 to 4 times more, the importance of getting your multichannel lead nurturing right is crucial.
We, therefore, offer B2B marketers the opportunity to target their audience in surround sound, thanks to our wealth of digital IDs, social IDs, MAIDS, IP addresses, hashed emails, names, postal, and email addresses. We can also help with CRM enhancement and can append any data you’re missing.
Generating quality leads
Despite the number of changes brought about by the pandemic, one thing that will never change for a B2B marketer is the importance of ROI and the ability to generate quality leads for sales teams to follow up with.
Multiple independent data evaluators have found our B2B data to be more accurate than other premier B2B data providers. In fact, we have been able to generate 2x the conversion rate typically seen with other providers.
Interested in finding out how we can help you overcome your B2B marketing challenges? Learn more about our B2B data or speak to us directly about your needs.