The Digital Revolution
1999 was a pivotal year for marketing as a whole. Salesforce revolutionized the customer relationship management market. Eloqua did the same for the marketing automation sphere. By 2001 the digital marketing boom was in full swing. Since then, digital marketing has evolved into its own ecosystem. Consequently, this exponential growth created a larger need for a robust online marketing strategy for all B2B businesses. This evolution forced many companies to pivot their strategy and budget toward the new marketing model.
To help you navigate the ever-changing digital marketing space with confidence, use our best-practices guide below.
15 Digital Marketing Best Practices
Do use integrated marketing. Integrated marketing is a mix of various online and offline campaigns such as PR, social media, and content. All of which seamlessly work together by communicating the same message across all platforms. Also, remember to measure marketing attribution of each channel. Since it takes a prospect at least 7 interactions with your product or service to convert, all touch-points are important.
Don’t get discouraged. Not all campaigns will work. In fact, most will fail due to poor performance. Treat the failures as a learning experience. Learn from your mistakes so you don’t repeat them and from your wins so you can scale.
Do spend time planning your campaigns before you begin execution. This will ensure a great user experience and high conversion rates. You will also need creative assets, landing pages and any analytics or software tools to measure performance. Rotate your creative every two months to avoid creative fatigue.
Do try account based marketing (ABM). Rather than starting at the top of the funnel with unqualified leads, ABM allows you to top your funnel with MQLs and SQLs from the get go. Therefore, resulting in much higher likelihood of a sale. Check out Metadata’s website for more information on how it works.
Don’t ignore data. Measure your campaign performance, come up with hypothesis for improvement and test it. Furthermore, do a deep dive into analysis to understand conversion rates and most profitable paths on your website.
Do fail fast. When a campaign doesn’t perform, find out why, discard it and move on to the next one. Time is of the essence. For failed campaigns ensure quick cutoff to prevent large monetary loses. This requires monitoring all campaigns closely on a daily basis.
Do use tools to automate your marketing as much as budget allows. Research various options on the market to fit your budget. Use ROI analysis on potential tools to evaluate their benefit to your business.
Don’t underestimate the importance of social media. Social media can be your best way of gaining relevant customers. It can also be the quickest way of addressing customer concerns.
Do scale and allocate more spend and resources toward high performing campaigns. This process is called optimization. While more expensive upfront, optimization helps you get to your desired conversion rates.
Don’t be afraid to engage your customers. Use them for testimonials, case studies, focus groups and surveys to improve your product or service. Most customers will be happy to help your company improve. Choose relevant case studies. For example, if most of your customers are in the retail vertical, use a retail customer. Select one that has the most recognizable brand and use a case that is relatable, such as “Customer Forever 22 was able to increase their dwell time by 3x.”
Do A/B test everything. Test ad text, landing page variants, graphic images and email copy. Implement changes even with the slightest improvements. Because an improvement of even 1% in conversion rates, can mean the difference between hitting your goals and not. For example, a 5% conversion rate for every 1000 visitors means 50 conversions. Whereas, a 6% conversion rate will bring you up to 60 conversions. For B2B companies targeting enterprise businesses, conversion rates and lead volume tend to be lower. Therefore the extra 10 leads mean a lot more when it comes to hitting your goals.
Don’t get complacent. Introduce new marketing tactics into your marketing mix. Read relevant blogs and keep up to date with the latest marketing trends. Learn about new software on the market and innovative tips and tricks. Some of our favorites are: Hubspot for inbound marketing updates, Kissmetrics for analytics and Moz for SEO. Remember, your competition is not far behind. If you stop innovating, they will overcome you in no time.
Do produce quality content. When you offer value, your content will be shared and re-shared. Content offers a great way to engage current and potential customers. Especially effective content is one where you share your customer success stories and details about how your business helped them solve a specific problem.
Don’t follow or copy others. Startups often fail due to lack of vision. CB Insights recently published the poll by 101 failed startup founders. 19% of those polled said they were out competed. That’s nearly one fifth of all failed startups. Therefore, if you copy other companies, you are already a step behind.
Do keep up with competitors. Because competitive analysis helps provide a unique value proposition in the market, by differentiating your company – you will always be considered an innovator. As an example, if all your competitors focus on pricing, highlight convenience in your marketing instead. Most importantly, become the leader in your industry by using novel marketing strategies and technologies to stay ahead of the competition.
Have questions about our 15 B2B best practices? Ask us by emailing email@example.com. We will include answers to your questions in our “Q&A with the expert” series.
Are you interested in Account-Based Marketing?