26 Apr Why is a new approach needed to drive B2B growth
B2B marketing has always been about targeting senior decision-makers and convincing them to make purchases. However, with the rise of technology and the increasing complexity of decision-making processes, this has become a more difficult task. It’s time for businesses to adopt a new approach to B2B growth, one that focuses on building relationships and creating value for their target audience.
According to research conducted by HubSpot, the average B2B buyer now completes 57% of their research before ever speaking to a sales representative. This means you need to focus on providing relevant and valuable information to potential buyers through their website, social media channels, and other digital marketing tactics.
Additionally, a study conducted by Forrester Research found that 74% of B2B buyers conduct more than half of their research online before making a purchase. This highlights the importance of having a strong online presence that provides your potential buyers with the information they need to make informed decisions.
To effectively reach senior decision-makers, you need to prioritise personalisation, relevance, and education. Personalisation is key, as buyers are more likely to engage with your content if it is tailored to their specific needs and interests. According to a survey conducted by Demand Gen Report, 77% of B2B buyers said that they would be more likely to engage with a company if the content was personalised to their needs.
Relevance is also critical, as buyers are inundated with content on a daily basis. To cut through the noise, you must provide information that is directly relevant to the buyer’s business, industry, and pain points. This requires a deeper understanding of your target audience and a willingness to invest in creating high-quality, targeted content.
Education is another important factor, as buyers are looking for partners who can provide insights and help them make informed decisions. According to research conducted by LinkedIn, 92% of B2B buyers are willing to engage with a vendor who is seen as a thought leader in their industry. By providing educational content it helps your buyers understand complex topics and make informed decisions, you can then position your business as trusted advisors and build long-term relationships with your target audience.
To implement this new approach to B2B growth, you must invest in the right technologies and tactics. One effective strategy is account-based marketing (ABM), which allows you to target specific accounts with personalised messaging and content. According to research conducted by SiriusDecisions, businesses that adopt ABM strategies see a 200% increase in revenue.
Another important tactic is social selling, which involves using social media platforms to connect with your potential buyers, build relationships, and share valuable content. According to a study conducted by LinkedIn, 90% of decision-makers say that they are more likely to engage with a salesperson who is a known industry thought leader.
In conclusion, the traditional B2B approach to business growth is no longer as effective as it once was. To reach senior decision-makers and drive growth, you must adopt a new approach that focuses on building relationships and creating value for their target audience. Personalization, relevance, and education are key, and you must be willing to invest in the right technologies and tactics to make it happen. Incognate can help you to prioritise these factors with our Reach approach that will position your business as a trusted advisor and build long-term relationships with your target audience.
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