Demand generation, unlike traditional marketing strategies, refers to a data-driven marketing approach that aims to create awareness or interest for your company’s service or product first before selling them. This approach helps in turning profitable prospects into long-term, lucrative clients.
By carrying out a feasible demand generation plan, you’ll not just scout new opportunities but also create them, from marketing and sales alignment to data-driven growth for businesses. Demand generation enables you to make smart marketing decisions for your company.
Here are nine effective B2B demand generation strategies you can follow to boost your marketing campaign’s efficiency in 2020:
1. Increase In Digital Advertisement Spending
Digital advertisement spending for various marketing platforms is increasing due to tight B2B advertising budgets. Also, the CPM or cost per impression of digital campaigns coupled with stringent global compliance laws and email regulations has made targeted marketing solutions an irresistible avenue to reach prospects.
In funding discussions, trade shows and other traditional marketing tactics are becoming less popular. This is because marketers now understand the advantages of reaching out to their prospects with the help of online paid media platforms.
2. Utilize Intent Data
In 2020, the hype around behavioral intent data will reach its peak. Marketers are beginning to understand how to better operationalize these insights. Â B2B marketers have been trying to leverage technology to send the right content to the right consumer at the most appropriate time, but offering a personalized engagement in terms of concern, timing, and content is a challenge without behavioral intent data.
Intent data is behavioral information about a consumer’s action. Extracted from online footprints, these intent insights can help you create more personalized and relevant marketing experiences.
3. Incorporate Video Marketing
As B2B solutions are a bit complex and hard to understand, most marketers are starting to leverage video to help their audience understand robust solutions clearly. Because of its visual aspect, video is a powerful medium when teaching potential buyers through the purchasing process in a scalable and engaging way.
If your 2020 marketing strategy involves incorporating video, focus on making videos around trending themes that perform better even in other content formats. Also, by turning these content into a video format with careful speculation, you’ll be able to offer more memorable and relevant content that’s easy to understand.
4. Leverage AI and Chatbots
Nowadays, artificial solutions are used for almost every B2B marketing aspect. This is mainly because these solutions help b2b marketers in analyzing massive datasets to facilitate personalization at scale, discover actionable insights, and boost productivity by streamlining complicated mundane tasks.
However, AI tools can only be helpful if you utilize quality and reliable data. If your 2020 marketing technology stack includes AI solutions, make sure to experiment and test out commonsense feedbacks of your artificial intelligence engagements.
5. Offer Exceptional UX On Your Website
This is a no-brainer. Your site is the first place prospective customers will most likely go to. Providing a positive experience for all your website visitors is a must. Your site offers the best opportunity for convincing prospects about your service or products.
However, if you don’t optimize your site constantly as per the visitor’s changing needs, you risk missing out on great business opportunities. Keeping a tab on crucial statistics and testing out new designs can help you optimize your site and boost conversion. For example, companies that increased their landing pages from ten to fifteen saw an increase in leads by 55%.
6. Prioritize Buyer Enablement
The standard buyer funnel isn’t relevant anymore – every buyer’s journey is unique. Buyer enablement helps in getting rid of the barriers found in your important decision-making materials and resources. This helps your prospects in finding the information they require throughout the buying path.
You can’t predict your prospects’ buying journey, however, you can make all buying decision information accessible. According to Gartner, when customers make a purchase, accessible buying information that helps them in their decision-making process is more valuable than the capabilities of your product.
7. Leverage Customer Data Platforms
With customer data platforms, you can incorporate your social media analytics, CRM or customer relationship management data, marketing automation platform, website analytics along with other user data sources to create an integrated client profile for reporting and segmentation.
8. Implement Account-Based Marketing
As a B2B organization, you will deal with several large customers and generic marketing approaches won’t work on them. You need to implement account-based marketing tactics to target these accounts more smartly.
ABM isn’t a tactic or a trend. It’s a strategic avenue that facilitates personalized outreach across customer success, sales, and marketing to drive revenue and engagement for a specific set of audience.
9. Employ Multichannel Approaches for Effective Marketing
With so many social platforms out there, it would not be wise to expect all your consumers to be available on a single platform. If you target a single channel, you are not just limiting the audience set but also risking the loss of potential buyers. As a b2b marketer, you need to use multiple marketing channels and prioritize those platforms that your buyers spend their time on.
To be able to reach your target audience successfully, your marketing team needs to follow a more adaptive approach towards new channels. Additionally, you can use Google Analytics to evaluate how each channel performs to determine the ones that deliver results. Â As such, you can prioritize more on high-converting platforms and yield greater outcomes.
Has your company already started using some of these strategies? No matter where you stand, these B2B demand generation strategies will help in optimizing your marketing efforts for the better in 2020.
Robert Jordan, a seasoned marketing professional with over 10 years of experience, currently works as Media Relations Manager at InfoClutch Inc, which provides technology database including SAP customers list, Pharmacists Email List and many more technologies for marketing campaigns.
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