When it comes to B2B endeavors, the use of digital marketing strategies or growth-driven tactics for demand generation and acquiring new customers -such as Inbound Marketing- may produce a mental block to any startup or expanding company.
We realize that prospects can be discouraging in B2B companies looking to expand. Coming from a small economy like Chile, it’s categoric: you may die if you don’t grow. That is why we suggest looking for growth-driven digital marketing experts – or growth hackers, contributing to generating more leads and close more deals.
While Inbound Marketing focuses on giving solutions by digital content creation, demand generation, lead nurturing, and SEO optimization, Growth Hacking invites visitors to become promoters quickly using marketing techniques to promote usage and retention.
“Growth hackers, using their knowledge of product and distribution, find ingenious, technology-based, avenues for growth that sometimes push the bounds of what is expected or advised.”
But B2B companies often ask themselves… what’s in it for me? Pointing that they’re different from B2C:
They claim their industry is quite technical, and they sell quite a “boring product” and don’t consider they can try out and innovate in digital marketing strategies to trigger that “growth spur.” Moreover, they feel they couldn’t afford it: the difference between a successful and a failed year maybe only ONE customer having their product.
Those reservations about B2B marketing are precisely the reason they are perfect for growth hacking.
Don’t mix growth driven marketing with crowd driven marketing.
One is cost effective, the other one is not.
Yes, that’s obvious, or is it? Growth Hacking expert Neil Patel complains that traditional marketers have an extensive focus instead of centering on growth above all else. Branding, design, copywriting, or distribution must serve the growth and not the other way around.
B2B customers are not just other companies. There are people and a complex internal structure behind the corporate logo. You may be surprised whom you may have bypassed on your marketing and sales efforts.
We find companies immersed in aiming at the direct use of their product. With big data analytics or social media research, we may find another buyer persona: a boss in charge of budgeting, or their deputy assistant, who is in charge of research and quotations.
If a company wants to grow to other territories, it needs to speak its digital lingo. That is, how people express their goals on a search engine, a forum, or a social media platform locally.
If London based factoring firm promotes “bill collection” in New York, people will think they are collecting money instead of receipts.
People have different behaviors with digital platforms depending on the culture: in the United States and Canada, an entry-level executive may browse through eBooks; in Latin America, it may be easier to convert an eBook to a video. Growth hacking explores new streams to attract visitors.
One traditionally links word-of-mouth referrals as an offline marketing tool and fails to see that they all click at the age of Facebook, Snapchat, WhatsApp, Instagram, and LinkedIn.
Google and Millward Brown Digital found out that 71% of B2B researchers start looking for general information instead of directly approaching a product or a brand.
A B2B sales cycle can be long and thoughtful, and companies must consider well if the products they’re offered are a good fit- if they are aware that they may need your product, that is.
This may sound like a common (and misinterpreted) definition of hacking: cheating. But it’s not.
Second, you may have given a brilliant presentation at an industry event, but it doesn’t have to end there. You can turn it into educational content to send around those who weren’t at the presentation.
The same goes for email marketing campaigns. You may be presenting the same features to three different buyer personas or markets: customize them, as each of them will want to know what’s in it for them: ROI? Better operations? Improved management?
Google and Millward Brown Digital found that 70% of B2B buyers and researchers look at videos during their decision process. So why not turn it into one?
In 2017, we’ll see increases in experimentation, visual content, new social media channels and artificial intelligence to engage and service customers.
We’re at the age of collaboration. Many B2B start small: serving a specific branch of a company, or an individual department of a corporation, then they work their way up and expand. At the same time, industries are working in clusters helping each other.
According to Gartner, the three most influential B2B marketing activities are direct interaction with the provider, references, and events (both virtual and physical). Finding your way on social media forums or even creating your own network in one of them can help you get in touch with both existing and potential customers and work your way up.
Marketers are using iterations to test online how can an email campaign copywriting and design get more leads through A/B testing, how can the user experience turn the website design into a conversion tool, and fine-tune our message to specific buyer personas using keyword analysis and research.
Automation helps segmentation and personalization. You can’t send the same email to a corporate CEO and its head of acquisitions. You need to keep in touch with your existing customers, but you shouldn’t send them the same content as a potential buyer.
It’s one of the beauties of marketing and engineering working together. It’s essential to any strategy: find the issue and work your way back to the cause.
You may want to focus specifically on Growth driven metrics, as HubSpot puts it:
Where would your company want to grow? Is it considering using a growth hacking approach?
My name is Izzy and I am a co-founder of CRM Toolbox, an award-winning HubSpot Solutions Partner. I lead our team of consultants who provide professional guidance to help businesses implement the HubSpot CRM platform migrate, integrate their tech stack to HubSpot to create a seamless environment for sales reps to use. There is nothing I love more than solving the challenges that come up when someone wants to migrate an old system or integrate their tech stack with HubSpot - it's like a puzzle!
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