With so much focus on social media and influencers, many B2B businesses feel that digital marketing is reserved for B2C companies. That is untrue. Many B2B businesses that have invested in digital marketing have seen significant growth and expansion. The article will tell you more about how digital marketing can benefit your B2B business.
Digital marketing increases your visibility
Companies looking for product or service providers do not like to waste time. If your prospects are unaware of your business, it is unlikely that they will intentionally seek you out. Therefore, increasing your visibility is essential to raise brand awareness and reach your target audience. Traditionally, you would do this by sending cold emails or flyers to potential clients. However, it is much more efficient to let them come to you.
Search engine optimization (SEO) is a powerful tool that allows B2B companies to be discovered by their audience on search engines. That said, an effective SEO campaign involves more than just purchasing Google ads. B2B clients have very specific pain points and search keywords. Hence, businesses need to undertake in-depth keyword research and tailor their SEO to boost their visibility for the relevant keywords.
Digital marketing builds your reputation
Reputation is paramount for B2B sales. Unlike B2C sales, B2B sales can amount to hundreds of thousands of dollars per transaction. Unless you are already well acquainted with your prospective clients, it can be tough to convince them that your company can deliver what they need. Hence, B2B companies must support their generic marketing with a persuasive combination of reputation-building content and social proof.
Content is central to digital marketing. When you create content that addresses the concerns and needs of your target audience, you establish yourself as a credible and trustworthy industry leader. Your reputation grows as your content is published on highly-regarded platforms or shared by other players in the field. Think about how a ‘featured on Forbes’ badge on your website will work wonders for your reputation.
Digital marketing shortens the sales cycle
The B2B sales cycle is notoriously time-consuming. According to CSO Insights, almost three-quarters of B2B sales to new customers take a minimum of four months to close. In fact, almost half of them end up taking at least seven months. With several people involved in the endorsing or decision-making process, B2B businesses need to customize their content and tailor their value propositions to expedite the sales cycle.
There are several ways digital marketing can help with this. First of all, keyword research ensures that your business will reach your target audience the minute they are ready to explore a purchase decision. Engaging content compels them to contact your company and reputation boosts convince them to convert. Even if you do not close the sale, digital marketing can help you to follow up automatically and continue to engage prospects with minimal effort until they move down the marketing funnel.
Digital marketing offers better ROI
Compared to traditional marketing, digital marketing offers a much higher ROI. Digital marketing works on many levels to enhance brand awareness, increase leads and conversions, shorten sales cycles, and improve sales and revenue. Content marketing typically costs 62 percent less than traditional marketing and companies can expect to earn $2 for each $1 that they spend on a PPC (pay-per-click) campaign. Furthermore, ROI can be much higher with the help of an experienced digital marketing agency.
Because digital marketing is supported by large amounts of data, you can easily measure your campaigns and eliminate any strategies that are not generating returns. There is little wastage of resources or time. Digital marketing comes with endless metrics that enable you to better understand your audience and finetune your campaigns to capture their attention. Features such as A/B testing allow you to assess and analyze the behavior of your prospects so you can develop content that converts.
It comes down to execution
It is clear that digital marketing offers concrete advantages for businesses. However, digital marketing encompasses a wide array of techniques and strategies. B2B audiences have different needs and decision-making processes than B2C audiences. For B2B companies to fully reap the benefits of digital marketing, they must hire a B2B marketing agency that knows how to tailor their campaigns to a B2B clientele.
B2B agencies have dedicated tools and experts who can research your target audience, plan your marketing strategy, execute campaigns, and measure the results. Hiring a B2B agency to take care of your marketing strategy and execution will enable you to focus on growing your business. This way, when the increased leads from your marketing campaigns start to come in, your business can respond with quality products or services.
Digital marketing is not a choice but a necessity if your B2B business wants to complete in this modern age. Digital marketing will allow you to build your reputation, expand your reach, close more deals, and scale your business. To achieve the best results, leave it to the professionals and engage a digital marketing agency that specializes in B2B marketing.
MarTech stands for marketing technology. It refers to the techniques and tools that marketers use to plan, create, deliver, automate, test, measure, and integrate digital marketing campaigns. MarTech covers a range of activities such as advertising, promotion, execution, and analysis. It curates the entire digital marketing process from brand identity to the buyer journey and client retention.
MarTech tools enable marketers to gain insight into the demographics, preferences, and behaviors of their target audience and make data-driven decisions to streamline, scale, and improve their marketing campaign outcomes. Companies often use more than one MarTech tool at a time. The term MarTech stack is used to refer to a suite of complementary tools that a company utilizes to accomplish its MarTech goals.
How Can MarTech Help Businesses?
Since MarTech tools are cloud-based, all data is instantly updated and available. Therefore, it is easy to sync information across various teams and devices. Aside from avoiding inconsistencies with data, having a centralized location for information allows companies to eliminate the redundancy of having to manually action data transfer from one team member to another.
MarTech can allow businesses to easily integrate and manage several marketing channels through a single dashboard. This increases the efficiency and productivity of your marketing team and enables them to spend time on strategy, planning, and execution instead of dealing with scattered assets.
With MarTech tools, various departments such as sales, marketing, and customer service can better align their focus to move towards organization goals. MarTech services allow seamless transfer of information from one department to another, improving the customer experience as well.
Internet users exhibit distinct behaviors when using different channels. MarTech can enable marketers to have a multichannel view of their target audience and their purchasing behavior. This can help marketers to determine the most effective channels to advertise on.
Through a deeper understanding of your prospects, you can customize and personalize your advertising campaigns to increase the likelihood of conversions. Personalization helps brands to connect and engage with potential customers, reactivate existing and past customers, and help prospects to move down the sales funnel.
Improve Quantity and Quality of Leads
MarTech can not just increase the number of leads but also improve the quality of the leads that a company receives. Through better audience targeting, marketing campaigns can generate leads that are more likely to convert and become paying customers.
Whole Customer Journey
When various departments are siloed, it can be tough to ensure consistent quality across the board. Integrating all your processes through MarTech systems allows you to have an overview of the entire customer journey from the first point of contact to the eventual sale or onboarding.
With strong data support, companies can use MarTech tools to measure the success and ROI of their marketing campaigns. Tools such as Google Analytics provide a clear indication of the numbers of users that interacted with your advertising, the number of conversions, and where other users exited the sales funnel.
Your company enjoys advantages with each MarTech tool that you add. While a single MarTech tool can expedite and enhance one aspect of your operations, a fine-tuned MarTech stack can bring exponential benefits across the entire sales and marketing chain, skyrocketing your growth.
What is HubSpot?
HubSpot is a proprietary inbound marketing and sale platform that is designed to help companies market more efficiently and effectively. HubSpot started as a CRM (customer relationship management) software and the service provider has since expanded its offerings to include five interconnected hubs for sales, service, marketing, operations, and content management. The HubSpot CRM Suite encompasses all the above service offerings in a bundle.
HubSpot is preferred by digital marketing agencies due to its broad range of tools that integrate seamlessly. Through expert use of HubSpot’s services, digital marketing agencies can help their clients to generate inbound leads, increase conversions, close deals, and improve customer satisfaction. Although HubSpot is an extremely powerful platform, it can be difficult for companies to implement or understand it. There is where HubSpot agency partners come in.
MakeWebBetter (MWB) is a standalone eCommerce HubSpot agency that specializes in helping its clients make the most of HubSpot’s suite of services. MWB provides dedicated services and solutions to leverage the HubSpot framework and help eCommerce businesses to grow and expand. With over 15 thousand active clients, MWB is a HubSpot Certified Premier Integrations Partner and a Diamond-tier HubSpot Solutions Partner.
MWB has developed exclusive HubSpot apps that integrate HubSpot with WooCommerce, Shopify, and other major eCommerce platforms. They also have addons designed to boost sales like dynamic coupon codes and specialized HubSpot apps like WhatsApp integration. In addition, they boast an extensive range of HubSpot services that cover onboarding, consultation, website development, and custom integrations.
MarTech has the potential to help SMBs and enterprises achieve unprecedented success. If you would like to leverage the strength of MarTech but are unsure of how and where to start, consult a MarTech services agency. An agency like MakeWebBetter can offer you a customized solution to help you to propel your business to new heights.
A fractional executive is a seasoned C-suite professional with at least twenty years of experience in their field of expertise. The majority of fractional executives boast an impressive career history with experience in various C-level roles across multiple industries. Some of them have since retired early or moved on to become entrepreneurs but are willing to share their expertise in a fractional working arrangement.
How Fractional Arrangements Work
Instead of hiring a senior executive full-time, a company engages a fractional executive to take on an interim role for a fraction of the time and cost. Fractional executives can take on several roles including Chief Operating Officer (COO), Chief Financial Officer (CFO), Chief Revenue Officer (CRO), Vice President of Sales, and Marketing Director.
Fractional working arrangements are usually flexible and dependent on the needs of both the company and the service provider. Some fractional executives work on full-time, short-term contracts while others prefer part-time, long-term engagements. There is also the option of hiring virtual fractional executives who provide their services remotely.
Often, a fractional executive will enter the company with the purpose of meeting defined goals and objectives. They will put in place strategies, plans, and processes, or develop the capacity of your employees to allow your company to scale up. Although fractional executives can be considered a transitional asset, some companies prefer to retain fractional executives long-term instead of hiring an in-house C-level executive.
Who Needs Fractional Executives?
Small and medium-sized enterprises (SMEs) and startups typically do not have the financial resources to hire an in-house C-level leader. Unlike established companies that often have a team of top senior executives, most SMEs and startups only have the business owner acting as the Chief Executive Officer (CEO). Yet, growth and scale are essential for small companies to survive and compete.
A sign that your company may need the intervention of a fractional executive is that it is not attaining set organizational goals. Perhaps the leaders in your company do not have the knowledge or experience to create an effective growth plan or marketing strategy. Even if your company is operating fairly well, you may be missing out on opportunities for scalable growth. If you feel that your company is not achieving its full potential, you should consider engaging a fractional executive.
Benefits of Engaging Fractional Executives
An average C-level executive can command a minimum of $250,000 a year before benefits and taxes. Many startups and SMEs simply cannot meet such a high salary expense. This creates a catch-22 situation where the company needs revenue to pay for expertise but does not have the expertise to attain this revenue. Fractional executives are much more affordable than in-house senior executives, allowing companies to access top executives. There may also be potential tax savings.
With decades of experience in C-suite roles, fractional executives have a depth and breadth of experience that can benefit any business. They have practical knowledge about a vast range of industries and valuable connections that can help a company gain an edge over than competitors. Furthermore, fractional executives are invested in professional development. They constantly educate themselves about industry trends and technology, helping your company to stay at the forefront of change.
Help Where It Matters
You can hire entry-level employees for general roles such as sales and customer service, but you need someone who really understands the big picture to affect growth. A fractional executive can help you with complicated tasks such as strategic planning or operational streamlining and help your company focus on revenue expansion. Having an expert in your corner also allows you as a business leader to spend time on the core of your business instead of trying to handle everything on your own.
Get an Entire Team
C-level executives are powerful but they must be backed by a competent team to make a solid difference. Some fractional service providers now allow companies to outsource an entire team of fractional executives. For instance, your company could engage a team of fractional revenue experts to help your company scale successfully. This saves you both the time and effort involved in aligning your team and systems. Your revenue can take off much quicker and your company can be ready to scale sooner.
Fractional working arrangements can be negotiated to suit the demands of the company. A fractional executive could start full-time and reduce their hours as the in-house team becomes better trained and more productive. When you hire an in-house senior executive, you often have to sign a long-term employment contract. This can be a liability when the executive does not meet your expectations. Although fractional engagements also require contracts, they generally have more flexible severance terms.
The idea of hiring a top-level executive with Fortune 500 experience may seem a pipedream for many small businesses. However, this is now a possibility with fractional service providers. With a fractional executive or a fractional team of experts, your company can function better, increase revenue, and set itself up for long-term scale and success.
A lot goes on in modern society. We are bombarded with news about climate disasters and social despair every day. At the same time, feel-good snippets about people doing their part for the world keep us hoping for a better tomorrow. With so many resources at hand, corporations have a strong influence on how our society will progress. Yet they are often portrayed as cold and profit-hungry enterprises. Can businesses actually be a force for good?
The world needs more good
Corporate social responsibility (CSR) is a term that has been in use for many decades. In the early days, it was a shallow marketing buzzword that was plastered on press releases about arbitrary annual tree planting events. Today, the practice of CSR requires a lot more than mere performative activities. CSR requires business practices to be put under scrutiny. Businesses must build a framework around responsibility and be accountable to their team members, their investors, the public, and the environment.
Due to the proliferation of media, CSR is now more important than ever. On the Internet, bad news travels fast and good news is few and far between. People are aware of the interconnectedness of everything and realize that corporations play a vital part in creating an equitable and sustainable society. Although it can be difficult to see social responsibility as a tangible asset instead of a liability, many businesses have found that investing in CSR is not just good for the world but also good for the bottom line.
Employees need something to believe in
In 2022, a job is not just a job. Since the pandemic, people have been leaving workplaces in droves to pursue their interests and lifestyle preferences. Talent is hard to find and talent that is loyal to your company is one in a million. When your company has a strong mission and purpose, you will attract valuable employees who seek more than just a paycheck. Social-conscious companies inspire and motivate their team, increasing employee engagement, morale, loyalty, and productivity.
According to Harvard Business School, 93 percent of employees surveyed believe that businesses must demonstrate responsible leadership. Close to 70 percent of employees said that they will not work for a company that does not have a strong purpose and 60 percent would even accept a lower salary for a position at a purpose-driven company. These statistics clearly show that individuals want to be part of the solution. Companies with strong CSR initiatives will enjoy a more dedicated and satisfied workforce.
Clients want to be inspired
In the same vein, consumers want to see companies caring for society and the environment—or, at the very least, mitigating their impact. 70 percent of Americans believe that companies should make efforts to make the world a better place while 77 percent of consumers will be more inclined to purchase from companies with responsible policies. More importantly, 25 percent of consumers and 22 percent of investors have zero tolerance for companies with problematic ethics and practices.
What this means for companies is that instead of issuing statements on their lofty ideals, they need to back up their theories with action. Social proof is the greatest form of organic marketing. Companies with a high standard of accountability and transparency will benefit from a customer base that believes in them and participates in their growth. There are many ways to take a stand. For instance, a mission-based marketing agency in Illinois uses its expertise to help promote non-profit organizations.
ESG is increasingly relevant
CSR is how companies can demonstrate their social commitment. Environmental, social, and governance (ESG) is how the efforts of said companies can be measured or quantified. ESG is fundamentally a set of evaluation criteria. Environmental factors include resource use and climate change policies. Social considerations include how a company interacts with its employees, customers, and the local community. Governance looks at the structure of a company, its internal controls, and its leadership.
ESG is fast becoming an essential metric employed by investors to assess potential investments. Investors, like consumers and employees, only want to invest in enterprises that are responsible stewards of society and the environment. Brokerage firms and fund institutions are similarly making the shift towards companies that fulfill ESG criteria. The US SIF Foundation’s 2020 Report on US Sustainable and Impact Investing Trends showed that ESG-driven investors held an impressive $17.1 trillion in assets.
Corporate behavior is in the spotlight. Society at large demands that businesses rethink their practices and improve the way they interact with people and the environment. A sure sign of this growing movement is the increasing number of companies that apply for B Corp certification. B Corp-certified companies have to meet stringent standards and ensure that they maintain their efforts over several years.
Can businesses be used as a force for good? The answer is a resounding “yes!” However, becoming an accountable business with a meaningful mission and solid CSR is an ongoing process. Only companies that are truly passionate and committed can help to build a more beautiful tomorrow.