As the B2B market is constantly dealing with an evolving marketplace, CMOs must come up with novel and flexible approaches that enable their B2B marketers to navigate the uncertain B2B marketing landscape.
Enterprises across industries are struggling to find their foothold amid the uncertainty in the economic landscape, and also plan for growth. With passing months, there are decisive budget cuts for enterprises across industries. B2B marketers are making every attempt count, in order to strike the right balance between long-term brand building and short-term sales activation. While most brands have their eyes trained on the latter, they need to give both of them equal importance to ensure business sustainability and viability.
Knowing what steps to take for maintaining the right balance, enables B2B marketers to seek initiatives that will enterprise in the long-run. Hence, CMOs participate with their B2B in every step of the way in a fluctuating B2B marketing landscape. They need to understand their pain points and encourages them to follow the below growth principles:Leveraging Acquisition and Customer Growth strategy
In recent years, customer loyalty has been at the top priority of most B2B marketers. However, this belief hurts a brand’s ability to grow at the required pace in today’s marketplace.
To achieve growth, CMOs should encourage B2B marketers to ensure they put in the necessary efforts to attract and acquire new customers, while also maintaining the growth of the existing accounts.
Marketing campaigns launched to elevate a firm’s share of mind are most effective. The best approach for the B2B marketer is by aiming for mind awareness at scale at the stage of the purchase funnel. The more traffic they can bring to the company’s digital presence, the better the business results are.
Striving for Consistency across the ad, reach, and duration
A leadership position in the market, at the end of the day, adds to the growth of any company. It enables them to easily stand out, attract prospects, and increase their conversion rate.
Hence, brands need to focus on their efforts to drive demand in the long-term. The best way to achieve this is by being active across all their prospects’ touch points. Being consistent with marketing communications and increasing their reach and duration of the marketing campaign can significantly enhance a brand’s stance and enable it to achieve its goals.
Investing in short-term demand generation efforts
Most B2B brands allocate smaller budgets to brand marketing when compared with their other campaigns. However, to survive, brands create demand and have activation campaigns in place to drive demand into revenue. When B2B marketers balance the equation of brand and demand investment, they have a higher chance of increasing RoI over the full length of the sales lifecycle.
The B2B marketplace is continuously evolving. Having a strategic plan to approach marketing in today’s environment is the only way for brands to keep their loyal customer base and ultimately, reach the growth that they have strived for.