Do you own a B2B brand and are looking for ways to boost your revenue?
Then, it is certain that by now your Google suggestions and social media feeds will be flooded with unbelievable marketing hacks.
You might have even wondered if those carousel posts on ideas for increasing sales are true, but performance marketing is very much real. Before we learn about some unexpected ROI strategies in performance marketing, we need to ask the question:
Why Performance Marketing?
As we know, performance marketing is a data-driven approach to B2B growth, ensuring you only pay for results in marketing, not just ads. But choose performance marketing for the right reasons.
- Pay for what you get: No more throwing money at marketing campaigns. You just pay when someone clicks, signs up, or makes a purchase, depending on your objectives.
- See what works: Performance marketing is all about tracking results. Then, you can see which tactics are indeed generating real leads and sales and focus your energy there.
- Faster results: Building brand awareness may take time, whereas performance marketing can provide an immediate boost. This is particularly useful for growing B2B companies that must hit specific revenue goals.
- Lower Risk: Traditional marketing can be a dicey proposition. The chance of failure in performance marketing is very low. Because of this, you will only invest in campaigns that give the desired yields, hence increasing your ROI(Return on Investment).
In short, performance marketing is a smarter way to grow your B2B business while operating efficiently focused resources toward what drives sales.
Once you are 100% sure that performance marketing is your business, let’s see how to do it.
The Power Of Personalisation
Customers crave recognition. Every B2B buyer is a person with unique needs and challenges. Greeting by their name, remembering their favorite brand, and suggesting items that they genuinely need will attract them to your business and, for certain, to become your loyal customers.
Here’s the surprising fact: According to studies conducted by Evergage, personalised B2B experiences can result in as much as 400% uplifts in conversion rates. This is the power of personalisation in action.
By personalising the customer journey across all touchpoints (website, email marketing, social media), you’re creating a frictionless and engaging experience.
B2B Customer Loyalty Programs
In this digital era, everyone is obsessed with gaining a larger number of leads, and they think it is the only path to success. Here’s what they are missing: building a loyal customer base translates into a steady stream of repeat business, reduced customer acquisition costs, and valuable word-of-mouth marketing.
Below are some tips on how to get a loyal customer base.
- Give unique discounts and rewards for continuous buyers.
- Offer priority support as well as access to new product features for long-time clients.
- Design a referral program that encourages customers to talk about your brand.
Here’s a shocker: According to Accenture studies, just a 5% increase in customer retention could skyrocket profits by 95%.
The Content Collaboration Conundrum
Any business needs collaboration going forward. This means partnering with relevant industry influencers and engaging their audience while positioning yourself as a thought leader. There are numerous ways of collaborating, including white papers, webinars, and social media takeovers, among others.
Guess what? HubSpot contends that content marketing yields three times as many leads as traditional advertising.
Storytelling for B2B Success
Facts and figures are important, but buyers are still human. People connect with stories, so weave a story that taps their emotions to build trust and make your brand relatable. Here are some ways you can do that;
- Show how your product or service helped a client overcome a problem.
- Highlight the impact your products have on the world.
- Showcase your company culture.
Here’s a statistic that might surprise you: According to a 2023 study by HubSpot, B2B companies that prioritise blogging as part of their content marketing strategy are 13 times more likely to see a positive return on investment (ROI).
In B2B marketing, the pressure to drive leads and close deals can be overwhelming. While adopting performance marketing and non-traditional approaches is crucial, navigating these strategies requires expertise and specialised knowledge.
This is where a B2B marketing agency comes into play.
Collaborating with a seasoned agency can provide invaluable insights, tailored strategies, and proven methodologies to implement performance marketing initiatives effectively.
By leveraging the expertise of a B2B marketing agency, businesses can transform their marketing approach from transactional to transformative, driving sustainable growth and maximising revenue potential over time.