Businesses have seen many changes over the years at the global level. B2B level marketing has also evolved in recent times. Now a day’s customers are more aware of dealing while interested in getting more information about the product. Around 90% of people said that a better customer experience also matters to them the same as their product and services.
Marketing trends in B2B has seen rapid growth over the 5 years. According to Google in 2015 around 50% of buyers were millionaires which is twice from 2012.
Around 80% of business 2 business dealing will take place on digital channels by 2025 according to a future sales report of Gartner. Going digital is beneficial for the companies for getting more customers and to increase the annual growth rate. To beat the competitors, it is also very beneficial as they generate more annual growth and more return from shareholders while using digitalization.
Strategies That Are Useful For Driving More Sales
1. Voice Of The Customer
The term was given by Abbie Griffin and John R. Hauser in the 1993 MIT marketing science report. the customer-centric approach which is a deep process of apprehending the customer’s expectation while giving them satisfaction. A better understanding of customers and making the organization more customer-centric with the adaption of the voice of customer metrics. There are several metrics voices of the customer
- Net Promoter Score
- Customer Satisfaction Score
- The Customer Effort Score
- Customer Loyalty Index
- Customer Lifetime Value
- The Would You Miss Us (WYMU)
- Repurchase Ratio
Methods For The Voice Of Customer Data Collection
- By interviewing customers
- By doing surveys
- Focus group
When customers are actually having a good experience with getting what they want from product and services as per their needs then in this situation they will have nowhere else to go.
2. Omnichannel Commerce
Omnichannel uses the multi different channels to provide customers a better experience. it deals with making the whole experience better even if the customer uses a laptop, mobile. As per a study, Around 70% of customers on their journey use multi different channels for purchasing.
As per the report’s buyer uses 6 different channels whereas experiencing frustration during this process by 65%. More than 36% of B2B companies are using omnichannel commerce.
The benefits of initiating omnichannel commerce are following
- Better customer experience with satisfaction: chatbots, email, newsletter, notification, Ad on social sites are the touchpoint for the customer making their experience better.
- Building Loyalty: customer boosts their loyalty to the brand and more likely to purchase from the same business. a study also shows that customer does purchase again in 2 to 3 days on omnichannel experiences.
- More revenue generation with sales: sales will boost up with omnichannel commerce as the customer will buy on different platforms while spending more.
3.Personalization For Buyer
As per research, more than 48% customer increases their spending when they get customization of the product. In B2B more than nearly half percent of buyers stated that they see customization as a very important key feature for dealing with another business party.
B2B also wants the customer-centric approach just as B2C there will be a high rise in 2025 by $14.9 billion in the buyer experience management market.
Data which includes customer buying behavior, the experience is very useful. 79% of Businesses having personalized customer experience generate more ROI (return on investment). B2B using advertisement campaign of customized in various ways.
- Digital advertisement
- Account-based marketing
- Email marketing
- Social media
- Content marketing
4. Content Marketing
It stops the gap and gives information without prior contact with another party. As per the reports, documented content strategy was only used by 32% and 48% using it but without documentation and 4% have no surety about it.
It is also a very effective way of becoming better than your competitors. Content marketing is a broad concept and affects the buyer’s decision-making process. Different content marketing tactics are given below
- Good knowledge of prospective buyers
- Better quality and engaging content
- Guest posting
- Content in a different format
- Result check
5. Data Analysis
In 2020 around 83% are using a data-driven approach in B2B business. Mostly 69% looking at it as an effective way of control. Data analytics includes five steps given below:
- Define data
- Measure data
- Analyze data
- Improve data
There is a difficulty occurring in achieving success of marketing and sales while maintaining data quality and 89% agreed with it. Data experts and data analytics are getting hired by the business who can handle it between the department and show meaningful data results.
- List out the most valuable buyers: business houses should make a list of buyers who are buying more than the minimum order quantity, they are the most beneficial buyers and require most of the attention.
- Measurement of performance: to check who is performing better and generating more for sales measurement of sales performance is needed. incentives are provided to those who are giving higher performance.
Product performance is also necessary to check whether the demand for the product is high or low. It enables businesses to make decisions related to purchase and restock inventory.
- Shipping Strategy: it is also very important to have the right shipping strategy as another business is to rely on the delivery of the product. quick and fast delivery is very important for the smooth running of B2B.
- Time Taken in Sales: Time taken in sales cycle length; how much time is required in completing the process of sales. Longer the time taken makes it more complicated and if the time period in sales cycle length Is shorter it creates more leads and generates more sales.
Around 60% of people agreed that data is generating is effective in achieving more revenue.
84% of data are collected by the feedback of customer and customer relationship management, 76% from the mailing list, 71% from website data. High Importance of Data quality is agreed by 89%, only 51% believes that they are using high-quality data.
Strategy in a business is a continuous process and requires immediate solutions with adaptability and by installing new technology in an organization.
These b2b marketing strategies will help you bring an upward trend in ecommerce sales. We at Emizentech have been developing ecommerce websites and marketplaces for many years. So, if you ever plan to launch your own ecommerce store then get in touch with our expert ecommerce developers.