Omnichannel B2B Marketing: A Necessity

How do B2B companies acclimatize themselves to the fast evolving marketing norms? What used to be primarily, a personalized marketing process, like meeting prospects at trade fairs or at networking events or during in-person sales visits… is today not available at many locations. The global pandemic called for these old habits to be abruptly curtailed. So suddenly these companies have been forced to migrate to virtual marketing channels. Like engaging unseen prospects at remote marketplaces on websites, trade portals, e-commerce channels and if required, via zoom calls. And what was considered earlier considered to be a “good to have” B2B marketing strategy; has suddenly become a “must have”, or in some cases, the “only” strategy for business growth. While some of the agile businesses have quickly re-aligned their marketing plans to include e-commerce channels and digital media outreach… there are many who are still contemplating adoption of a critical B2B marketing mix.

Online B2B marketing is not only convenient for prospective customers who can reach a business at any time, irrespective of business hours and location… it is also most economical. The customer acquisition cost (CAC) varies as per industry, but companies that have a strong digital presence, CAC is negligible. See some averages below,

Source: Propeller Crm

Why online media is best? For example, a reseller of scientific equipment, wants to attract business from a new geographic market. So what must their B2B marketing strategy be in this new – pandemic hit – world? How does the business owner ensure their brands, products and services are reaching the most prospective buyers in the new target markets? Now that there are no trade exhibitions or in-person visits possible. And the only thing that can be tapped to reach and engage their target audiences is the online media.

• Should this business start advertising online? Maybe yes. But can turn out to be very expensive is strategy is ill conceived.
• Do they need to invest in a smart new website with latest features? Yes, this is highly recommended. The website must be more than an online brochure, and more of a lead generating machine that works tirelessly 24×7.
• Is is good to have strong presence on social media networks like LinkedIn and Facebook? Very important as most of their target audiences are likely to be spending a lot of time on social media.
• Can listing on trade portal helps generate quality inquiries? Yes, listing on top trade portals will help. But remember, trade portals share leads between registered members, hence the results may vary.
• Will it help if prospective customers see seamless communication across all the channels? Absolutely. A person who visits their LinkedIn page, sees an update (or ad), clicks on the link to their website, downloads a whitepaper, receives an email that communicates the same message as the LinkedIn post, is more likely to convert to a lead.

But many small B2B businesses face challenges while implementing an omnichannel marketing strategy. Some of these are,

1. Absence of online marketing team
2. Back office integration like CRM and ERP
3. Data sharing across teams/locations
4. Limited digital marketing experience
5. Expensive marketing agency fees
6. Rising online advertising costs
7. Evolving technologies, tactical obsolescence

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