What’s Working Within B2B Digital Marketing?
Michael J. Collins
I Build, Lead and Coach Marketing, Sales and Product Teams to Deliver Profitable Growth
B2B marketing targets the needs, interests, and challenges of individuals who are making purchases on behalf of, or for, their organization (rather than for themselves), thus making the organization the customer. In today’s complex and competitive marketplace, B2B marketers must create engaging strategies that will work best for their individual brand while meeting the unique needs of their customers.
So what’s working within today’s world of B2B Digital Marketing? According to the 2021 State of B2B Digital Marketing, a survey of marketing professionals conducted by Ascend2 and Wpromote, 57% rank social media as the most effective marketing channel, with email and content marketing tied for second place, cited by 47% apiece. Interestingly, 68% expect their digital marketing budgets to increase—28% say they will be increasing their email budgets in the year ahead, versus 55% for search, 44% for content marketing, 37% for display advertising and 34% for paid search. The diverse shift could be because email infrastructure is already in place and brands may be struggling to catch up in social media.???
Following up on my article earlier this month What Does the Future of Marketing Hold? I wanted to focus the stage light on the world of B2B marketing and social media marketing.?Given the results of the study above it’s clear that companies should focus on being active on social media.?While the B2B side tends to lag behind B2C, the reality is that social media is discovery driven.?It’s about moving people from discovering the existence of a brand to having more intent around the brand.?
Which Social Media Channel Dominates?
There’s no denying that B2B buyers are active on social media channels.?But for those of you still not invested in creating a digital profile, it’s worth noting that HubSpot reported that 76% of buyers are ready to have sales conversations on social media, and 81% of buyers are more likely to engage with brands that have a “strong, cohesive, professional social media presence.”
Of all of the social media channels available, which is the right one to focus on for long-term success??In my opinion, LinkedIn is a clear winner as the dominant social media channel within the world of B2B social media marketing.?Unfortunately, too many B2B companies go wrong by developing and posting content irrelevant to their target audience. ?Digital fatigue is real, and consumers are becoming selective about the type of content they digest.?Businesses and brands will need to invest more in original and unique content and tap into a higher level of creativity to retain and keep their audiences happy and engaged. After all, B2B companies have the most success when they target buyers at the correct stage in the sales funnel.
To maintain success on LinkedIn I encourage that the thought leaders within your organization focus on showcasing their experience.?When you’re developing a content plan, think about areas where your leadership team has expertise, whether it’s an industry vertical or a specific marketing category.?For me, I enjoy writing about leadership, global marketing trends and relationship building.?If you can develop a thought leadership program that creates and posts content that provides value and perspective to your audience as well as your organization, it will help build a stronger, more engaged LinkedIn community.
Don’t delay— lean into social media.
Social media should be every B2B marketer’s best friend.?I shared in an earlier LinkedIn article the fact that 3 billion people worldwide use social media allows us to connect and interact with customers where they already are.
Did you know that 75% of B2B buyers and 84% of c-suite executives use social media when making a purchase? ?That’s right— social media marketing isn’t just for brands targeting individual consumers.
Within the B2B space, LinkedIn has tremendous connectivity to target audiences. ?In fact,?80% of social media B2B leads come from LinkedIn. ?
Social media is a powerful tool for building brand awareness, giving your company an online personality, and humanizing your business— all very powerful factors when it comes to marketing and connecting with potential customers. ?If you haven’t yet fully leaned into social media, there’s NO better time than the present.
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The role of influencers in marketing will continue to evolve.
I predicted within an earlier article that micro-influencers will play an increasingly important role in B2B marketing.?While micro-influencers may have fewer followers, they offer a more personal connection with their audience and an opportunity for much higher engagement.
I’d argue that influencer marketing is more important for B2B than for B2C. ?Although the average purchase size in B2B typically dwarfs that in B2C, the impact of referrals and word of mouth are more critical to the success of the organization. ?Notably, 19% of the overall US economy (both B2B and B2C) is driven specifically by word of mouth, but 91% of B2B transactions are influenced by word of mouth.
Without word of mouth and influencer marketing, B2B purchases would likely grind to a halt, because nobody takes a flyer on B2B products and services the way they gamble on consumer-focused items.
Embrace video content.
Video content should not be underestimated.?According to a prediction study, 82% of all online content is expected to be video-based by 2022.?Moving forward, videos will dominate the social media scene even more than now, so creating video content is no longer optional.?
Videos are incredible tools— they tell compelling stories, provide vibrant visuals and are great at capturing and engaging a larger audience.?Some ideas for video production include tutorials and “how to” guides, entertaining content about the people behind the scenes, interviews with employees and leaders and novel industry know-how stories. ?
In addition to using video content on LinkedIn, YouTube is also worth pursuing as it attracts 2 billion logins per month.?In fact, 56% of B2B marketers say that YouTube content is a big factor in their overall marketing success.?At CFA Institute, we created this short YouTube video to amplify the benefits of being a CFA Charterholder.
If you still need convincing, 70% of researchers watch a video-formatted piece of content some time in their buying journey. ?And 71% of B2B marketers include YouTube in their content strategies. ?Video content is definitely a way to get your business to stand out from the competition.
Social media is definitely a smart way to elevate your B2B marketing strategy, but what else do you think is working in B2B Marketing? Leave a comment below…
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Marketing Expert. Growth mindset. Driven to add-value for all stakeholders. Continuous life-long improvement.
3 年Thank you Michael for sharing your article and insights about the vital importance of Social Media in the B2B media mix. I agree, LinkedIn is the 'must have', 'go-to' platform and channel to reach and influence a business audience. ------------ Within the sphere of B2B marketing, I'd like to add 'Social Proof' as a powerful means of influence and persuasion. Trust is at the core of all business buying decisions. Genuine third-party endorsements is the tool. ------------ Research shows that more than ever people screen out corporate advertising messages. People have become wary of unsubstantiated claims made by business. People look to their social network as a source of information, guidance and validation for purchasing decisions. Makes sense, doesn't it? When people you know refer a product or service or vendor, you are far more likely to trust that recommendation. And, when lots of people endorse/like a product or service, you will undoubtedly have more confidence in your buying decision. ------------ So how to convey trust in B2B marketing? Over and above the standard means of instilling trust, I'd recommend that business marketers collect real, genuine testimonials from their customers to feature in their social media and other marketing activities. In particular, short customer video testimonials, produced in an authentic way, have significant power to instil trust and confidence.