B2B Performance Marketing: Tactics to Increase Sales

The B2B marketing landscape has evolved significantly over the past century, with technology playing a pivotal role in how businesses approach sales and marketing. The rise of digital marketing and the emergence of the Performance Marketer have shifted the focus towards digital selling. To truly understand how businesses can leverage performance marketing, it's crucial to examine its origins and the challenges faced in the current marketing climate.

The Evolution of B2B Marketing

From the early days of advertising and PR, to the addition of marketing departments and the rise of digital marketing, the history of B2B sales and marketing can be divided into several stages:

• Up to 1949:

  Advertising & PR | Sales

• 1950 - 1994:

  Advertising & PR | Marketing | Sales

• 1995 - 2005:

  Advertising & PR | Marketing | Digital Marketing | Sales

• 2006 - 2021:

  Advertising & PR | Marketing | Digital Marketing | Performance Marketing | Sales

• 2022 - Onwards:

  Advertising & PR | Marketing | Digital Selling

With each stage, businesses have adapted their strategies to reach customers more effectively. However, despite technological advancements, many marketing departments still struggle to generate substantial income.

The Emergence of Performance Marketing

As marketing automation software failed to live up to expectations, the industry introduced Account Based Marketing (ABM) and later Account Based Experience (ABX), as well as the Performance Marketer. The Performance Marketer became responsible for managing the relationship between marketing and sales, leveraging all available resources to generate income through exposure.

However, the pressure on Performance Marketers to deliver results has often made them scapegoats for widespread marketing failures, as they are expected to work with the same tools, budget, and software as their predecessors.

The Solution: Digital Selling

Digital Selling presents a comprehensive solution to the problems faced by Performance Marketers, as it eliminates most of the lead-based process by providing prospects with everything they need online. Salespeople are then responsible for the 'last mile' of the customer journey.

To make the most of Digital Selling, businesses must employ a range of strategies, tools, and techniques, including:

1. Live Streaming: Engage with prospects at scale and provide a more interactive experience by leveraging live streaming technology. Learn more about Live Streaming.
2. Social Media Automation: Reduce the workload of reaching a large prospect base on LinkedIn by automating social media posting with tools like Social 444.
3. Adverts: Create compelling advertisements to entice prospects to explore your tech, SaaS, or services company. Discover more about creating effective adverts.
4. Targeted Content: Use AI-powered tools like ChatGPT to write targeted content that appeals to your audience.
5. Copywriting: Craft content that adheres to Google's recommendations on structure and length, ensuring your articles are SEO-friendly. Learn more about effective copywriting.
6. Pivoting to Digital Selling: Embrace the shift from traditional selling to digital selling to stay ahead of the competition. Read more about pivoting to digital selling.
7. Podcasting: Increase exposure to a wider audience by producing podcasts that share valuable insights and information. Explore our approach to podcast production.
8. Webinars: Host webinars to educate prospects on your products and services, demonstrating your industry expertise and building trust. Find out more about creating webinars.
9. Video Production: Produce high-quality videos that showcase your offerings and resonate with your target audience. Discover the benefits of video production.
10. Email Marketing: Implement targeted email campaigns to nurture prospects and maintain engagement throughout the sales process. Learn more about effective email marketing.

By embracing Digital Selling and providing the necessary resources and support to Performance Marketers, businesses can unlock the full potential of marketing and sales collaboration, ultimately driving revenue growth.

Embracing the Future of B2B Marketing

As we look to the future, it's essential for businesses to stay informed and adapt to the ever-changing landscape of B2B marketing. Here are some key trends and strategies to consider in order to stay ahead of the curve and maximise success:

1. Artificial Intelligence (AI) and Machine Learning: These technologies are becoming increasingly relevant in marketing, as they can help automate processes, analyse large volumes of data, and deliver personalised content to prospects. Embracing AI and machine learning can help businesses optimise their marketing strategies and drive better results.

2. Content Marketing: Providing valuable, engaging, and educational content to prospects is essential in today's digital-first world. Focus on creating high-quality content that resonates with your target audience and addresses their pain points. This will help establish your brand as a thought leader in your industry, build trust with prospects, and ultimately drive conversions.  Review our approach to Content Marketing and in particular our recommendation to replace persona marketing with our suggested categorisations of Primary, Secondary and General Content. 

3. Social Media Marketing: Social media platforms offer businesses a unique opportunity to engage with their target audience, share valuable content, and drive brand awareness. Develop a robust social media marketing strategy that aligns with your overall marketing goals and leverages the appropriate platforms for your industry.  It's not all plain sailing though; learn our unique approach to exploiting Social Media marketing and our Social 444 Strategy.

4. Influencer Marketing: Collaborating with industry influencers can help amplify your brand message and reach new audiences. Identify influencers in your space and build strategic partnerships to create engaging and authentic content that resonates with their followers.

5. Data-Driven Decision Making: Leverage data analytics to make informed decisions about your marketing strategies. By analysing your marketing performance data, you can identify trends, optimise your campaigns, and allocate resources more effectively.

6. Personalisation: Personalised marketing experiences are becoming increasingly important as prospects expect tailored content and interactions. Use data insights to segment your audience and create personalised messaging that appeals to their specific needs and preferences.

7. Customer Experience (CX) Focus: Prioritising customer experience throughout the marketing and sales process is crucial for building long-lasting relationships with prospects. Focus on delivering a seamless and enjoyable experience for your prospects at every touchpoint, from initial awareness to post-purchase support.

By staying ahead of these trends and adopting innovative strategies, B2B businesses can overcome the challenges of the past and drive success in the future. By understanding the history of B2B marketing and learning from its shortcomings, organisations can ensure that their marketing efforts are effective, efficient, and ultimately lead to increased revenue and growth. As the world continues to evolve, so must our marketing strategies, and embracing new ideas and technologies is the key to thriving in the ever-changing landscape of B2B marketing.

Moving Forward

In conclusion, the key to overcoming the challenges faced by B2B marketing lies in understanding its historical context, learning from past failures, and adopting a fresh approach. By pivoting to Digital Selling and empowering Performance Marketers with the right tools and strategies, businesses can effectively scale up and thrive in the competitive market.

Remember, prospects are people too, and treating them with respect and understanding their needs is essential to building lasting relationships. As the B2B landscape continues to evolve, it's crucial for businesses to stay adaptable and open to new ideas, embracing innovative solutions to unlock the true potential of Performance Marketing.

Takeaways

1. Shift from traditional to digital selling: Recognise that digital selling is the future of B2B marketing and adjust your strategy accordingly. Focus on leveraging digital channels like email, social media, and live streaming to reach your total addressable market more effectively.

2. Utilise performance marketing: Harness the power of performance marketing to generate measurable results by focusing on specific actions, such as lead generation or sales, and aligning your marketing efforts with clear KPIs whilst maintaining detailed visibility on all online interactions using Google Analytics and Google Tag Manager. 

3. Leverage live streaming and social media: Engage with your target audience at scale by hosting live streaming events and using social media advertising banners to reach a larger prospect base.

4. Collaborate with sales teams: Ensure the marketing and sales teams work closely together, providing the necessary tools, resources, and support to create an integrated approach that maximises results.

5. Optimise content for SEO: Focus on creating high-quality, keyword-rich content that is both engaging and easy to understand for your audience. Optimise your content for on-page SEO, ensuring high keyword density and strategic placement within headers and throughout the article.

FAQs

Q: What is performance marketing in the context of B2B?

A: Performance marketing in B2B refers to a marketing approach that focuses on generating measurable results, such as leads, sales, or revenue, through a combination of digital marketing tactics, including social media, email marketing, and live streaming events.

Q: How does digital selling differ from traditional marketing methods?

A: Digital selling leverages technology and online platforms to engage with prospects and provide them with valuable content and resources. It eliminates the need for cold calling and telesales by fostering genuine connections and nurturing leads through personalised and targeted content.

Q: What role does live streaming play in performance marketing for B2B?

A: Live streaming allows businesses to engage with prospects at scale, offering valuable insights and fostering genuine connections. It helps reach a wider audience while providing an interactive and authentic experience for potential customers.

Q: How can automation and content creation tools like ChatGPT help with performance marketing efforts?

A: Automation tools like ChatGPT can help create targeted and engaging content, reducing the workload of marketing teams and allowing them to focus on other tasks. This enables businesses to reach a larger prospect base and improve their overall marketing efficiency.

Q: Why is it essential to track and analyse data in performance marketing for B2B?

A: Tracking and analysing data from tools like Google Analytics and Google Tag Manager helps businesses identify what works and what doesn't in their marketing efforts. It allows them to optimise their strategies, improve their messaging, and maximise their reach to potential customers.