How to create amazing full-funnel B2B Marketing Strategies?

If you want to do mastery on this topic then I can firmly say that you’ve come across the right place. Let’s explore each of the single element of the topic.

WHAT IS B2B MARKETING?

As the name clearly suggests us that B2B term been used for Business-to-Business organisations in which marketing is geared towards a business or organisation. It holds several key distinctions from B2C (customer-oriented) marketing but due to the use of a little straightforward behaviour, it plays a different role in this huge marketing world.

Chief Marketing Officers (CMOs) of various leading companies uses this strategy to improve business tactics for reaching to the multiple audiences at once. Mapping out a successful B2B marketing campaign is absolutely essential for generating engagements, prospects and ultimately leading to the sales and revenue by meeting up the requirements and delivering tangible Return-on-Investment (ROI).

And the main point to take in concern while performing B2B marketing is to allow marketing teams to have proper knowledge about the product, deals and how to acquire and retain customers.

IMPORTANCE OF B2B MARKETING

It trims down the product and services cost by directly minimizing the efforts and increasing the volume of investment by targeting the particular segment of the industry in terms of age, interests and gender. This can be done through dynamic face to face information gathering or virtual interactive data collection.

This is a foundational strategy in developing your vision, defining the targeted audience, identifying tactics and channels, putting content and campaigns into motion, and then continually measuring the optimization of successful growth for a particular business.

B2B marketing strategy is important for having a high-ticket Sales as while performing this type of marketing two organisation directly closes to their million-dollar of deals which leads to the high profit generating strategy to a company or organisation.

HOW ONE CAN CREATE FULL FUNNEL B2B MARKETING STRATEGY

In any stream of B2B company, you live and die to make your sales funnel. This is a system in which prospects reach the relevant offers that pull down them deeper into the targeted funnel strategy.

The B2B funnel consists of 3 main stages followed by the retention stage:

1. Prospecting- Prospecting is the very basic and first step in the marketing process, which consists of identifying the potential customer. Prospecting helps us to develop the database of engaging customers and finally communicating to them in the hope of making them as a current customer. Methods can be verified by marketing organization and industry and can include email outreach, social selling, event networking and warm outreach over the phone.

Let’s have a look on this funnel with the help of an example, you run a digital campaign on any of social networking sites in which you ask your prospects to sign up for your program and then you use this data set of email list for your different program by trying to make your potential prospect to the current one.

2. Lead generation- A lead generation funnel also referred to as a lead funnel, is a systematic approach for generating great leads. It’s the process of funnelling your targeted audience through distinct stages until the time they hopefully decided to make a purchase.

The best example that suited this strategy is that many of the big E-Commerce platforms use to have big billion day sales in which they gave a great offer to their potential as well as current prospects to generate high ticket sale on the stated ROI.

3. Closing the deal- Closing the deal requires a lot of planning and details. To close some deals, you need to have an analysis of your leads which can be closed at the earliest. People will make a purchase only when they will get a solution to their existing problems. If they started looking for your product then it is easier to do. Have a proper understanding of why they reached out to you before closing and if you reached out to them, you will have to gauge if its right time for closing or not.

The best example for closing the deal is to apply the 70/30 Rule of communication in which marketing individual should take only 30% time for closing the sales while they have to give 70% of the time to the prospect for identifying their problem and making it to solve with the closing of the deal.

4. Customer retention- Customer retention refers to the ability of a company or product to retain its customers over some specified period. High customer retention means customers of the product or business tend to return to, continue to buy or in some other way not defect to another product or business, or to non-use entirely.

Steps of B2B funnel corresponding to the various stages of customer retention journey:

a. Awareness- At this stage, you first catch the customers attention by making him aware of your business and what you offer. When consumer gets to know your point clearly then he/she makes a purchase immediately. More often, the awareness stage is more of a courtship.

b. Consideration-In this stage leads have been converted to the sales qualified leads. In which marketer send the prospects more information about the products and services through an automated campaign by considering it for a deal closer.

c. Conversion- A conversion funnel is a continuous mission of getting, keeping and growing your ideal customer base, while using various technology or with the help of social media like Twitter, Facebook, Instagram and many more. This stage has been rolled into referrals and retention marketing strategy.

SOME GREAT EXAMPLE OF B2B MARKETING

One example of a traditional B2B market is in automobile manufacturing. Everyone knows some of the biggest consumer-facing brands, but in every model of car or truck, they produce dozens of other companies’ products which include the tires, hoses and other spare parts. A manufacturer purchases these products from other suppliers and incorporates it in the final product. So it can be said that when you buy a car from one company then you are making a purchase of other companies product indirectly.

Let’s consider this strategy by a different example, suppose there is an organisation which develops software for others and they have a need of 1000 of computers then they will make a direct deal with a computer making firm and lead to a B2B marketing strategy approach.

NOW WAVE A “GOODBYE” TO YOU!

*Joy*