Email marketing is not going anywhere despite the arrival of social media marketing. Even today, email marketing is predominantly used by millions of B2B and B2C businesses worldwide for good reasons. What are these reasons? Check out these interesting email marketing statistics to know what we are talking about.
It is worth mentioning that the “one approach fits all” concept does not apply in email marketing. There are stark differences between B2B email marketing and B2C email marketing and it is a good time to know what they are if you don’t already.
You are making a huge mistake if you are using the same email marketing strategy for B2B and B2C brands. Let’s be blunt – it does not work. B2B email marketing is a different ball game than B2C email marketing. Simply put, B2B email marketing primarily focuses on logic-driven decision making whereas B2C email marketing tingles the emotional side of the recipient. That said, there is no thumb rule here, but it is always better to be prepared rather than aim in the dark.
So, how different is B2B and B2C email marketing? Continue reading to find out.
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B2B and B2C email marketing – how are they different? Let’s understand the main differences between B2B and B2C email marketing.
B2B marketing is already difficult in boom markets, but it’s infinitely more difficult in down markets. With rising costs and tougher competition, B2B marketers are faced with the challenge of bringing in qualified pipeline using fewer resources. As the vice president of marketing at a company that helps companies turn buyers’ job changes into revenue, I believe that using the same tactics that made sense during “boom time” may no longer be an option.
In the face of cost-cutting measures (paywall), layoffs and steep competition going into 2023, how can marketers stop relying on spray-and-pray tactics and start adopting sustainable, reliable strategies for generating new pipeline, and new revenue, for their companies?
Moving Away From Spray-And-Pray Marketing What is spray-and-pray marketing? In a nutshell, it’s the “old” way of doing things. It’s when marketing teams use tactics that cast a wide net without strategy or intention and hope for the best results.
Spray-and-pray marketing can look like:
• Sending marketing emails to purchased lead lists.
• Trying to generate leads without defining buyer personas.
• Running expensive advertising campaigns targeted at broad audiences.
This approach to marketing has worked pretty well in B2B marketing because we were essentially in a boom time, especially within B2B SaaS. Even though spray-and-pray isn’t necessarily efficient, many companies didn’t care much; they were still able to catch customers. Marketers didn’t have to worry as much about budgets, bad leads and untargeted campaigns—because either way, they could count on generating more leads than they had in the past.
Now, if they’re dealing with a down market, B2B marketers may need to step away from spray-and-pray tactics because of growing expenses, more cautious buyers and lower ROI on campaigns.
The result: more expensive marketing, less qualified lead generation, more pipeline anxiety and more stress for B2B marketing teams.
Marketers should consider these factors whether it’s a boom time or bust, but a market downturn could force more companies to move away from spray-and-pray tactics to more intentional, focused marketing tactics.
The B2B market is facing younger buying committees, shifts in expectations about the purchase process, overcomplicated tech stacks, and uncertain economic conditions. These factors are changing how marketers can reach, engage with, and retain business customers, according to our analyst Kelsey Voss. Here are five predictions for how these factors will impact your B2B marketing next year.
Digital self-service will dominate the B2B buyer journey. Who’s the B2B buyer in 2023?
Millennials and Gen Z make up the majority of B2B buying committees (65% of buyers are between the ages of 18 and 40, according to a recent American Marketing Association survey).
“These buyers grew up in a digital world and they also expect to manage their journey on their own terms,” Voss said. Buyers will do their own research (visiting a website or attending a webinar) before accepting a meeting with a salesperson. “These buyers want a self-serve and very personalized experience. B2B marketers need to meet buyers’ higher expectations in 2023 and provide experiences that mirror their consumer experiences.”
The buying committee is bigger and more diverse. There are more roles involved, which means many responsibilities and preferences (for example, the CFO wants marketing to be cost-effective). According to a Forrester Consulting and Outreach survey, 75% said there are more people in the decision-making process.
As people involved in the buying cycle expanded, so too did the time. That same Forrester survey found that 75% said the average buying cycle has increased in the last 24 months.
Marketers need to get tech integration right. The pandemic rush to implement marketing technology (martech) is moving to a new investment phase:
While martech spending will increase in the next two years, according to our forecasts, growth will drop from 2021’s 21.2% increase to 12.4% next year.
“The problem many B2B marketers currently face is their stacks are unwieldy and don’t align with tech and other teams,” Voss said. “Data integration and alignment between marketers and sales is crucial to achieve revenue growth expected from both teams and strategic collaboration with customer success teams drives customer retention and loyalty.”
An SEO (Search Engine Optimization) strategy is an essential component of any digital marketing plan. It involves optimizing your website and its content for the purpose of improving its ranking in search engine results pages (SERPs). A well-crafted SEO strategy can bring numerous benefits to your business, including increased website traffic, higher search engine rankings, enhanced online visibility, improved brand awareness, increased customer acquisition, and higher lead generation.
Here are some of the top benefits of implementing an SEO strategy:
Increased website traffic: One of the primary objectives of SEO is to drive more traffic to your website. By optimizing your site for relevant keywords and phrases, you can attract potential customers who are actively searching for the products or services you offer. This means that you are getting qualified leads who are already interested in what you have to offer, rather than hoping to reach a broader audience with a more general message.
Higher search engine rankings: A high ranking in search engine results pages (SERPs) is crucial for any business. The higher your website ranks, the more likely it is to be seen by potential customers. When your website ranks well, it becomes more visible to those searching for your products or services, which means more traffic, leads, and sales for your business.
Enhanced online visibility: SEO not only helps to improve your search engine rankings, but it also increases the visibility of your website on other platforms. For example, social media sites like Facebook and Twitter often display links to popular websites in their search results, so having a strong SEO strategy can help your website gain more visibility on these platforms as well.
Improved brand awareness: SEO can help to improve the overall awareness of your brand. When your website ranks well in search results, it becomes more visible to a wider audience. This increased visibility can help to build trust and credibility with potential customers, which can lead to increased sales and revenue.
Increased customer acquisition: A well-executed SEO strategy can help to attract new customers to your business. By optimizing your website for relevant keywords, you can attract potential customers who are actively searching for the products or services you offer. This means that you are getting qualified leads who are already interested in what you have to offer, rather than hoping to reach a broader audience with a more general message.
In addition to the Covid-19 pandemic, there is now recessionary talk taking place, and there are varying opinions on economic stability and how everything is going to unfold. Factor in high interest rates and talk of real estate bubbles, and there’s plenty for B2B marketers to be wary of financially as they attempt to grow their businesses and generate new sales opportunities.
When facing a wobbly economy, I believe the single most important thing that businesses can do is focus on client retention. And that starts with communications, digital marketing and a focus on customer success initiatives.
In 2020, Gartner forecast that “by 2025, 80% of B2B sales interactions between suppliers and buyers will occur in digital channels.” In 2023, I believe that identifying the right marketing channels and areas to devote resources and spending will be more critical. These are some of the areas that I anticipate seeing a greater focus on in the year ahead:
Customer success could gain greater traction. One marketing trend that has gained critical importance over the past several years is an increased emphasis on customer success and prioritizing retention. Strengthening and further developing existing client relationships—as opposed to always seeking out new customers—can lead to business growth.
Just like how humans need oxygen to live, businesses – whether offline or online – need quality leads to keep them going. If your marketing efforts are not attracting leads, it can contribute to your business’s downward spiral. If this is the case, you may want to change something in your marketing tactics and strategies.
B2B Lead generation is not only limited to acquiring potential audiences and customers for your business. It is also involved in a brand’s effort in increasing visibility, trust, traffic, and credibility for a brand. The more effective a lead generation tactic is, the more high-quality prospect a brand receives.
B2B businesses are businesses that sell products or services to other businesses. This can include anything from office supplies to software to manufacturing equipment. B2B businesses typically have longer sales cycles than B2C businesses, as they often need to build relationships with potential customers before closing a deal.
There are a few key things that make B2B businesses different from B2C businesses:
They typically sell to other businesses, rather than directly to consumers. They usually have longer sales cycles, as they need to build relationships with potential customers before closing a deal. They often sell more expensive products or services than B2C businesses. Their customers are usually more loyal, as they are less likely to switch to a competitor.
If your business caters to other businesses—also known as B2B—it can be difficult to gain insight into the best ways to leverage your customer relationship management platform to nurture leads and close sales. There is plenty of information out there about B2C relationship management, but there are many nuances to the B2B side, which can ultimately make it much harder. B2B involves a lot of moving parts, multiple decision makers, longer sales cycles with many touchpoints and plenty of chances to make mistakes.
To optimize your CRM plan as a B2B business, you must understand your value to target customers, be able to explain what you’re actually selling and recognize how and when to communicate with different types of customers and clients.
Here are three tips to help you establish more effective CRM practices:
The first step in optimizing your CRM plan as a B2B company is establishing your value to prospects and customers. It may seem overly simple, but a good way to approach this practice is to think about the information you would want to know if you were the prospect. Ultimately, it’s best to keep communication close to the key proposition values of what your business does best, and clearly be able to articulate ways your product or service solves their issues upfront. It can be tempting to offer expertise on a broad range of subjects to show the breadth of your expertise; however, your customers came to you for a reason. Keep that core reason in mind, and don’t take them down a convoluted, black hole of information.
In B2B, collecting job titles as part of your first-party data strategy is critical. To get a foot in the door, it’s essential to create advocates in the room where decisions are made within target companies. And to make those connections even more personal, your communication should be tailored individually for every person. This means no blanket emails, statements or day-to-day communications. If you’re speaking to the tech lead, talk about tech specs or how your product integrates with other software; when talking with operations, highlight ease of use and security; and if you’re one on one with the owner or CEO, discuss overall cost, potential savings and so on. Again, B2B sales cycles are often longer, so you need to learn how best to strategically nurture leads for extended periods, often with personalized emails, direct phone calls and more customized approaches.
There should be a difference in how you communicate with customers who are already using your product and prospects you’re courting toward trial and advocacy. These two groups are in very different parts of the sales and activation funnel. For example, once you’ve established who your target customer is, where they are in the funnel and their role in the company, execute some CRM mapping exercises outlining your strategy to take full advantage. As part of this process, plan integrated follow-up communication in conjunction with automation and ensure that everyone knows when and how to reach out. Importantly, as part of this mapping exercise and strategy, know that CRM communication does not need to always be pushing toward sales, though it’s usually the most important metric to stakeholders involved. A more personalized and thoughtful approach to this is sending periodic emails with topics of interest, continual education or relevant market insight that directly affects a potential client’s industry or market. This allows the opportunity to establish yourself as a thought leader and remain top of mind constantly.
B2B is focused on building trust between the partners and creating deep relationships. It’s the main principle of almost every b2b lead generation company since they are here to help and not to sell.
B2B refers to an action when one company is transferring the knowledge and market information to another company. The second company uses that raw material to produce products and services as needed.
When the B2B concept was invented, many marketers thought it would expire in a few years, but it’s still here and stronger than ever. Also, trends are changing, and methods like email outreach and cold calling may not work in the future. Our choice is to keep up to date with the new concepts and still focus on building relationships with other businesses and our customers for sure.
So, let’s see how things are doing today with B2B marketing and what we can do better in the future:
B2B Creates Relationships and Long-term Commitments B2B is focused on building trust between the partners and creating deep relationships. It’s the main principle of almost every b2b lead generation company since they are here to help and not to sell.
So, we can say that B2B is all about trust, commitment, partnership, support, and deep professional relationships. Honest and transparent communication is the most important factor, with no lies and no sugar-coating. That’s how strong companies are built.
B2B vs. B2C B2B is focused on businesses and B2C on customers. It seems easy to adopt one approach, to be compatible with the other. But, the concepts are quite different.
When you work for another business, they can provide a list of things to avoid or their weak points. It would help if you tailored a solution that meets their requirements, but it should be based on logic primarily.
When it comes to customers, the decisions are based on emotions, so the B2C approach is focused on that. Both aspects are essential, but they are entirely different. That’s why we can find a separate b2b demand generation agency that won’t work on B2C strategies.
B2B Encourages Rationality B2B users (buyers) are all about rational decisions. They appreciate the actual value of the service and pay the exact amount for that.
When compared to B2C, users make decisions based on emotions.
Let’s take the fashion industry as a great example. Fashion brands are buying raw materials, textiles, and accessories based on their logic, which means better quality for a more acceptable price. But, the final users are making decisions based on their previous experience with the same brand, the trustworthiness, and the money they can afford to spend.
B2B Uses Unique Marketing Concepts It’s challenging to focus on other businesses when you run a business yourself. But a whole marketing industry focuses on other companies, treating them as consumers.
As a B2B marketer, you need to recognize the opportunities on the market and use the best situation to set a deal with another business. You can do it better if you have a nice and clear vision and a plan to offer.
Many businesses expect step-by-step guides on how to be more successful, but you can explain what the objectives are and how to implement the strategy.
The goal is to build long-term relationships with your customers and keep them happy for a longer time. Also, don’t forget to work on attracting new clients because that’s the central concept of maintaining a successful B2B company.
Discover all you need to know about B2B marketing, including the best channels and resources to use to captivate your target audience. A significant difference exists between business-to-business (B2B) and business-to-consumer (B2C) marketing. In B2C marketing, your messaging encourages an individual to purchase a product or service. In B2B marketing, businesses targetother businesses.
The automotive industry is an excellent example of B2B. Automotive companies such as Ford, Chrysler and Honda don’t manufacture every piece of a car. Instead, they sign contracts with smaller manufacturers to supply items as small asscrews or as large as door modules.
The B2B Buyer’s Journey The B2B buyer’s journey consists of three stages:
To effectively target B2B marketing communications, you must understand how organizations move through this journey.
For instance, with a B2C strategy, you typically only have to convince one person to make a purchase. But in the B2B sphere, an average of six to 10 people are involved in buying decisions, according to Gartner. And each of those peopletypically collects four to five pieces of content they’ve gathered independently to present to the group.
B2B marketing also requires more patience, as nearly 75% of B2B sales to new customers take at least four months to close, and nearly 50% take seven months or longer. Even the majority of existing B2B customers take up to three monthsto come to buying decision. B2C sales, on the other hand, can sometimes take as little as a few minutes.
With over 20 years of business, sales, and consulting experience SMS is capable of serving many market sectors. We provide the field level support needed to generate results and grow your business. Other companies may provide appointment setting services; whereas SMS will partner with you to grow revenue.