How Leveraging the Power of Social Media can Change the B2B Game?

How Leveraging the Power of Social Media can Change the B2B Game?

We met an acquaintance a few weeks back who is running his own business and as we were talking about the strategy for sustaining in this cut-throat era, he just spilled his biggest fear, the threat of being a failure and losing the traffic by lack of its presence on social media. No wonder with this thought process, “Social media is for the apparels and makeup shopping only” he wasn’t wrong because his fear would eventually turn into a grim reality and eat away his traffic.

 

Humans have always been able to touch lives by their social presence and with the advent of globalization and the world becoming smaller, the presence on social media is the biggest channel to touch and influence lives. Replacement of chat rooms by WhatsApp groups has, in fact, brought us closer to the different communities we belong to and feel connected to.

Today, the status quo demands that for any business to survive, social media presence is extremely vital. The end game is not just having a social media presence, in fact, that’s the beginning. Curating quality content, social media optimization, making sure that you reach the most appropriate audience, and these are few pointers that must be considered if you intend to tap social media presence whether its B2B or B2C.

 

 B2B marketing is a type of marketing, where one business indulges in monetary transactions with another business. For instance, a company that manufactures electronic appliances taps a chain of restaurants for buying and utilizing their appliances.

One must consider the following points before getting started:

  • What is your goal and what are you looking to achieve?
  • Measure the outreach that are the key matrices you are using to track your goals?
  • Analyzing the results and key findings 
  • Redefining your strategy 

 

For any business to tap social media; the following steps must be taken care of:

  1. Most relevant type of social media for your business:

For analyzing your goal and deciding the course of action further, it’s equally important to understand the types of social media platforms available at your disposal. Having said that, today in the world of digitalization, social media platforms are quite readily and easily approachable, but the game is to select an appropriate medium that suits your nature of business. The social media platforms that are available and accepted majorly are: 

  • Facebook
  • Instagram 
  • Twitter 
  • Linkedin
  • Youtube 

 

  1. Tapping the right target group:

For any business to sustain or grow through social media, it’s highly important to tap the right target group. To make it reach the right audience will only lead to effective and efficient results. 

 

  1. Understanding the Market Persona and the competitors:

The trend that is hot in the market must be understood and strategies must be planned to acclimatize with the trends and scenarios, however, your plans and actions must differ from your competitors. Hence to understand the market persona and what does the competitor serves on the table is significant. 

 

  1. Build your Brand:

Building a brand, authenticity, and integrity towards the brand is quintessential. To connect to masses, one must speak through them and rope in the buyer’s faith in your brand. The best way to do this is through blogs, videos, testimonials, vlogs, etc.

 

  1. Curate engaging content:

Content that you curate for your social media assets, should surely be engaging your targeted group. Instance, if your target audience is rural, then the content you generate shouldn’t sound geek to them, it should be simple and easy for them to understand and involve themselves in it.

 

These are a few important steps for any B2B to keep in mind while tapping into the social media industry. This industry is booming in today’s business environment and helps you with the following advantages: 

  • Economical Medium 
  • Helps you connect with your customers 
  • Increases brand awareness and brand hammering
  • Generates leads and boosts your sales. 

 

Statistics have proved that more than three billion people around the globe are connected to social media platforms, and three billion is surely not a number meant to be ignored. Social media is not a passing trend, it’s here to stay.

 

Business to Business, via internet

Business to Business, via internet

In a world where the clicks on advertisements alone garner about $10.8 billion for Google, the customers are growing on their demands of more comfort and efficiency every day. They want it all at the tip of their fingers and for all we know, they are getting it. Premium digital experience from a perusal to purchase is no longer a matter of subscription. It’s as easy as it gets. However, as pretty as it sounds for a B2C scenario, it has become one of the biggest threats to the B2B companies presently.

According to a survey by Episerver, it was discovered that out of 700 decision-makers in B2B companies that discovered the top external threat for 84% of respondents to be increasing digital expectations from their customers or partners. Similar to a B2C characteristic, the business buyers now expect an effortless interaction and purchasing process as well. Considering there is no solid reason to hold up against the argument- ‘Why do we need the middleman?’, rising digital expectations are definitely a big threat to the B2B companies.

Going with the wind, the B2B companies are now investing for ‘Digital Experience Platforms‘ aka the DXPs by an alarming amount. The DXPs hold the kind of significance that they do because they take care of the one thing that B2B’s traditional methods simply won’t –the customer obsession.  A number of companies have begun restructuring their business practices to make them better in terms of digital experience, effortlessness and let them be customer-oriented. The rise of social media, websites, mobile devices, and digital channels has caused the B2B companies to loosen up their pockets a little bit more than usual.

There are ways of dealing with this altogether given that the companies understand the importance of selecting a DXP, whether they are ready for a deep transformation of their business practices, or are determined firmly on marketing and brand awareness, as these priorities are bound to reflect various strengths among the DXP vendors. In order to achieve better digital experience, your platform needs to be customer/partner-oriented in every possible way. It must be re-engineered by keeping in mind the expectations to be met and the potential threats that exist if it fails to deliver.

While is quite true that senior management does not have an impressive record when it comes to allotting funds for this, the numbers today also represent a significant upcoming change in this area with a majority of B2B companies’ investors being convinced to make more and more digital investments to safeguard the future of B2B sector.

There is no formula for achieving a great digital experience platform, nevertheless, it requires smart use of category heritage of a particular DXP along with a well constructed overall structure of digital market planning can certainly do the job for you.

 

If we were to work out a basic structure for the digital experience platform for B2B interaction, it must carry the following four points in its foundation:

  1. Segment your customers based on their needs.
  2. Provide a personalized customer experience. A humanized, automated digital experience goes beyond the purchase funnel and fulfills a good digital experience for the buyers.
  3. Provide an enriched and facilitated digital experience platform. The lesser the friction in a seamless buyer and seller interaction, the merrier the buyer-seller relations which would definitely result in a fairly huge amount of revenues.
  4. Have a customer-centered operation model. Only a handful of B2B companies use digital technologies to garner a better understanding of their customers’ business imperatives and objectives. But those that have improved the digital buying experience reap big returns.

From a broader perspective, superior digital experience abilities have the potential to transform the very basic, ground dynamics of B2B markets. It makes the communication for the buyer easier especially when one needs to convey their needs to the seller effectively. The companies that have adapted and provided premium digital experience in the last few years have witnessed a shift in the equation of buyer-seller interaction from being ‘seller driven’ to ‘buyer-driven’ and that has definitely proven to be fruitful in the long run.

A Few Things You Must Know About B2B Marketplaces

A Few Things You Must Know About B2B Marketplaces

 It all started with the advent of B2C marketplaces like eBay and Amazon, on which our life is extremely dependent these days. They have brought variety to what all you can buy with an additional benefit of delivery to your doorstep just the next day. This has given rise to a completely new marketplace where businesses sell to the other business.

B2B marketplaces have tremendous benefits and can give your business an edge over the competitors. This article digs into differences between B2C and B2B marketplaces, benefits of B2B marketplaces and insight into the world’s top marketplaces.

How B2B Marketplaces Differ from B2C Marketplaces?

Although both the marketplaces connect the sellers to the buyers, the basic difference is that B2B marketplaces connect two businesses while B2C marketplaces connect businesses to individuals. While both the platforms allow comparison of products and list of different sellers in one place, here is what makes B2B marketplaces different:

  • B2B marketplaces allow bulk orders while the number of items that can be bought B2C platforms is limited.
  • Quantity discounts are available.
  • Quotations and RFPs for orders can be confirmed online.
  • Pricing can be changed by the customer.
  • Pay through different methods including bank transfers and scheduled payments.

Benefits of Selling on B2B Marketplaces

B2B marketplaces are open to manufacturers and distributors alike. You may be looking to expand your sales channels or just distribute your products, you can tap into the benefits B2B marketplaces have to offer. Below listed are a few reasons why B2B marketplaces can be beneficial for you:

  1. Low Entry Cost

The entry-cost on these platforms is negligible. You don’t need your own e-commerce platform to sell your products. Also, you need not invest separately in marketing. B2B marketplaces take care of both. Without much upfront investment, you can have your products listed on these platforms.

 

  1. Hassle-free Setup

The setup is easy. You will not require to spend weeks or months to develop your storefront. All you need to do is develop your account and put your information to start selling. In no time you can get up and running on the B2B platform and your business will grow exponentially.

 

  1. Easy Access to the Audience

We consider this to be the most important benefit. Audiences make or break a business. B2B platforms already have an engaged audience who is searching for solutions. Therefore, you do not need to build your audience separately but just tap into the existing one. This significantly expands your reach and increases your customer base. They are also a great medium to test new products. You can plan and pick a product to see how it is performing and depending on the results, you can pull or push it further.

How to Choose the Best Marketplace for your Business?

There are ample of B2B marketplaces and you don’t know which to pick. Well, this is a tricky part but you can consider a few things before picking a platform to sell on.

  • Do your research and find out which are the popular platforms chosen by people of your industry.
  • Find out what technology they use.
  • Take a broader view of audiences and trends that govern the marketplaces.
  • Dig deeper into niche markets and how they get their needs fulfilled.
  • Lastly, consider the type of product you wish to sell and find out which medium is the best to make it reach to your target audience.

Leading B2B Marketplaces

While the web is flush with platforms that will fulfill your requirements, we talk about the three websites that are apparently the leaders in B2B marketplaces:

  1. com was launched in 1999 and is a Chinese company that currently serves millions of buyers and sellers across the world.
  2. Amazon Business is a B2B counterpart of Amazon.com and helps the professional sellers to reach business customers.
  3. eBay Business Supply was launched in 2016 and has a comprehensive range of products to offer to the buyers.
Six Elements Essential to Improving your B2B Customer Experience

Six Elements Essential to Improving your B2B Customer Experience

Consumer experience is increasingly garnering more attention and organizations are making huge changes to make it better. The focus is yet more on B2C markets; however, it is slowly expanding to B2B firms too. This article talks about the need for improving B2B customer experience and how to do it.

Why B2B Customer Experience Matters?

A simple answer would be that satisfaction does not guarantee loyalty. Customers might be satisfied with what you have to offer but they can still be lured by your competitors with a better customer value proposition. Therefore, winning their loyalty is important and it comes with good customer experience.

Customers now expect more than ever and the brands are now focusing more on making their experience a memorable one. They do so by involving their customers at an emotional level and invoking feelings of pride and accomplishment. A positive customer experience pushes the customers down the sales funnel and gives a boost to your business.

Nevertheless, many companies fail to make the experience worth it for their customers. Bad customer experience leads to brand switching and word of mouth can further give your business a setback.

  1. Committing to Customer Satisfaction

You have to start with commitment. You, as an organization, will have to commit to customer satisfaction – whatever it may take. This will require all your employees to be on the same page and work towards a common goal. And this should not be followed out of compulsion but passion. It ultimately reflects in your efforts and the customers can see it. These extra efforts do not require any extra implementation cost. Once you are committed to delivering the best to your customers, it becomes inevitable to retain them in the long term.

 

  1. Understanding Customer Needs

The next important element that can drastically change how customers feel about you is how clearly you understand their needs. Knowing what customers need and delivering it is vital to how a customer feels about you. This is not easy because customers tend to be quite demanding. However, they mostly revolve around quality and value for money. Therefore, you need to put in place a system that ensures these two demands.

 

  1. Hassle-Free Customer Experience

Nothing is more off-putting than having to go through hassles before finally buying your products or services. Therefore, even if you have the best product, you need to focus significantly on making it reach customers without any difficulties. Seamlessness is vital and you cannot compromise on it. Right from when customers start engaging with you till the sales and even after that, the experience must be simple, convenient, and hassle-free.

 

  1. Timely Response and Delivery

You may also want to make sure that you respond to your customers in time and deliver the services within a time frame as expected by them. Timely response, delivery, and fast problem solving are standard in the business world. For a company to compete in the modern business landscape, it is crucial to make sure that customers’ queries are answered on time and deliveries take place as expected.

 

  1. Proactive Approach

Being proactive is what makes businesses stand out. Being proactive in business and especially in customer experience improvement means knowing the problems before the customers face them. Proactive companies, by judging what could go wrong and what customers might need before they actually need it, make the business-customer relationship strong. It does not require any new products or services, rather making the existing one more desirable.

 

  1. Evolving of Customer Experience

The business world is developing at an unimaginable pace. Customers can be easily wooed by better offers from your competitors. Therefore, in such a scenario it is important to keep improving the customer experience. If you already provide excellent customer experience, you cannot sit back and relax. You need to acknowledge that the evolution of customer experience is a never-ending process.

All of it comes down to the fact the business-to-business customers are looking for solutions and those who meet the requirements better, flourish the most. Quality of your customer experience is as crucial as the quality of your products or services.

Your Guide to B2B Marketing Success

Your Guide to B2B Marketing Success

Digital revolution has turned the business landscape into something totally different. B2B marketing no longer works the way it used to. Before the dawn of the internet, B2B lead generation was primarily about developing in-person relationships with the right people in the business. The relationships are still crucial but the change in means of communication has given the B2B companies an opportunity to market and sell to anyone across the planet.

The opportunity is equal for businesses of all sizes. To make B2B marketing successful in the current business environment, you need to measure your marketing strategies and do what the current scenario demands. This article sheds light on different strategies that can help your business grow.

  1. A Top-Notch Website

Your website is your most important tool when it comes to B2B lead generation and marketing. Every business knows that they need a website but they don’t understand how important it is. And, you don’t just need a simple website but one that showcases your business the best. Website makes the first impression on your customers. Your website should be very interactive and easy to navigate through.

 

  1. Social Media Presence

B2B lead generation depends critically on social media these days. Almost all your customers are on some social media platform and access it multiple times a day, which makes it an important marketing channel. Social media presence increases your brand visibility and brings you closer to your customers. This makes them trust your business. It is suggested that you consistently share high-value content through your social media accounts.

 

  1. SEO

Search Engine Optimization (SEO) of your website and social media content is critical to make you stand out in web searches. Businesses that show up on the first page of Google search are likely to get more customers. Your rank in searches depends on the type and quality of content on the internet. Therefore, when developing content, the focus should also be on optimizing it for ranking higher.

 

  1. Content Quality is Crucial

Content rules the internet. The quality of your content should be high and you must use dynamic content. This includes blogs, videos, infographics, and more. It plays an important role in educating the customer. Therefore, if they find your content reliable and useful, they are more likely to engage with your business. Content puts you in the position of authority.

 

  1. Right Placement of the Content

You might have the best content in the industry but if you don’t know where to place it, it is of no use. You can take help of paid advertisements to increase the reach of your content. Alternatively, you can use content syndication and reuse your old content from time to time. Cover as many channels as you can and make sure you target your prospects. Social media offers various tools which you can use to promote your posts by selecting the demographics of your target audience. You can partner with other businesses to share each other’s content.

 

  1. Increased Engagement with Customers

Right marketing strategy is focused on increasing customer engagement. B2B lead generation is only successful if you are consistently in touch with your customers and interact with them at regular intervals. The aim here is to get to new brand advocates and long-term clients.

 

  1. Like, Follow, and Subscribe

Lastly, you should be able to garner commitment from your prospects. You don’t want customers that show up but leave shortly after. You want people that are ready to have long term relationship. For this purpose, make efforts to drive your online audience to like, follow, and subscribe to your content.

Competing in the modern world can be difficult without a proper strategy in place. Without B2B marketing, it is nearly impossible to make your business a success. Your business needs to be visible and credible. Reaching the right people at the right time is key to success. If you need any help with B2B marketing, write to us now. We have helped hundreds of companies hit bull’s eye.

Influencer Marketing to Boost Demand Generation

Influencer Marketing to Boost Demand Generation

Conventional marketing methods are becoming obsolete day by day. Since the advent of the internet, no one marketing method lasts for long. This is because the internet has opened the door to infinite possibilities. Another reason why you need to upgrade your marketing techniques is that consumers are no longer naïve buyers. They research brand and products before they buy and make informed decisions.

Therefore, now is the time for businesses to align their marketing strategies to gain the trust of their consumers and prospects. One such strategy that a demand generation company can use to attract leads is influencer marketing. It is a form of marketing that uses influential people on social media to promote brands or products. Here are a few tips that can help you make the most of influencer marketing.

  1. Micro-influencers can be the game changers.

Someone with a large following is definitely the right choice but you must not underestimate the effect of micro-influencers. Micro-influencers that align with your brand can have better engagement rates than influencers with larger following that are not relevant. They should definitely be perceived as authentic and better tools for demand generation. A study has suggested that nearly 82% of the consumers take action after recommendation by a micro-influencer. This is because they have more loyal followers and therefore, have better interaction.

 

  1. Go for the relevant influencers only.

It is always very important to see whether the influencer you are reaching out to is relevant to your business. The output is maximum only if the influencer is in line with your core values. For example, if an influencer who promotes home-made products suddenly starts promoting some branded product, this might backfire. However, if they promote certain ingredient they use in their home-made products, that might be a successful campaign. Therefore, choose wisely. The results are best when they are already loyal supporters of your brand because that helps their followers to see your brand as credible.

 

  1. Instagram influencers can make a huge difference.

Instagram has the highest number of online influencers and influencer marketing on this medium alone is worth $1 billion. At present, Instagram dominates the world of social media with 1 billion active users per month. This number is only increasing. Being a visual medium, it grabs the attention immediately and attracts the prospects. Influencer marketing on Instagram is popular demand generation strategy used by every leading demand generation company. Everything sells through Instagram, you should just know how.

 

  1. Free samples and reviews increase your credibility.

One important strategy used by some leading brands is providing the influencers with free samples and asking for their reviews. Sometimes, they also give a discount code or a link to get these products at lesser prices. You can generate a unique code for your particular influencer that can act as an incentive to their followers. This benefits your influencers, customers, and your business alike. Also, this can work towards building a long-term relationship with your influencer.

 

  1. Creative freedom is important.

A successful influencer marketing campaign needs time and effort. Therefore, while you collaborate with multiple influencers at one time, you must allow them freedom of creativity. Let them use their way to influence their followers since they understand them the best. You must not push content created by you through them. Give them access to your best content and then let them decide how they want to use it.

Influencer marketing can be incredibly successful in demand generation if you implement it properly. It is an organic way to reach your audience and win them over. The secret is to find influencers that are relevant to your line of business. It is a mutually beneficial strategy that will bring results beyond your expectations.

If you have already found your influencers, you need to keep them motivated to stay with you and it all depends on the type of relationship you have. A successful demand generation company is one that develops meaningful relationships with their influencers and customers. If you need help with influencer marketing, get in touch with us now.