74% of B2B marketers set goals, but only 3% always achieve them. What might be the reason? Is it the lack of proper strategizing or is it time to reinvent a new B2B marketing strategy?
B2B growth marketing is the need of the hour because it is a data-driven approach that helps businesses attract, engage, and convert their ideal customers. With the increasing competition and evolving customer needs, businesses need to focus on growth marketing to stay ahead of the curve. By identifying the target audience, understanding their pain points and needs, and creating relevant content and campaigns, businesses can build a loyal customer base that translates into sustainable growth.
For example, let's consider a B2B SaaS company that offers project management software for small businesses. The company has been struggling to acquire new customers and retain existing ones despite having a good product. Upon analysis, the company realized that their marketing efforts were not targeted towards their ideal customer, and their messaging was not resonating with their audience. By adopting a growth marketing approach, the company was able to identify its ideal customer persona, develop targeted campaigns, and optimize its website to increase conversions. As a result, the company was able to increase its customer base by 30% within six months and saw a significant improvement in customer engagement and retention.
What’s the difference between B2B Marketing and B2B Growth Marketing?
B2B marketing refers to any marketing activities that target other businesses instead of individual consumers. For instance, a B2B marketing campaign may include advertising, content marketing, email marketing, or other tactics to generate leads and drive sales for a company. An example of B2B marketing would be a software company promoting its services to other businesses that require specific software solutions.
In contrast, B2B growth marketing is a subset of B2B marketing that focuses on driving rapid, scalable growth for a company. B2B growth marketing typically involves a data-driven approach to experimentation and optimization, with a focus on using digital channels to achieve growth quickly. An example of B2B growth marketing would be a SaaS company that uses search engine optimization (SEO) to increase website traffic and conversion rates rapidly.
Here are five key differences between B2B marketing and B2B growth marketing, explained with examples:
Goals: B2B marketing is focused on generating leads and driving sales, whereas B2B growth marketing is focused on achieving rapid, scalable growth for a company. An example of B2B marketing would be a company sending out promotional emails to potential clients to generate leads, while an example of B2B growth marketing would be a company using SEO to increase website traffic and improve conversion rates.
Channels: B2B marketing can involve a variety of channels, including traditional marketing channels like trade shows and events. B2B growth marketing, on the other hand, typically focuses on digital channels like SEO, social media advertising, and email marketing. An example of B2B marketing would be a company attending an industry trade show to network with potential clients, while an example of B2B growth marketing would be a company using social media advertising to reach a broader audience.
Data-driven approach: B2B growth marketing relies heavily on data to inform decision-making and experimentation. This can involve A/B testing, conversion rate optimization, and other tactics aimed at improving key metrics like website traffic and conversion rates. An example of B2B marketing would be a company creating a brochure or pamphlet to promote their products or services, while an example of B2B growth marketing would be a company using A/B testing to improve the effectiveness of their website landing pages.
Scalability: B2B growth marketing is focused on achieving rapid, scalable growth for a company. This means that tactics and strategies need to be easily repeatable and scalable to achieve sustained growth. An example of B2B marketing would be a company creating customized proposals for each potential client, while an example of B2B growth marketing would be a company developing automated email campaigns that can be easily scaled to reach a large audience.
Experimentation: B2B growth marketing involves a culture of experimentation and continuous optimization. This means that companies must be willing to try new things, learn from their failures, and quickly iterate and optimize their marketing efforts to achieve growth. An example of B2B marketing would be a company creating a standard sales pitch to use with every potential client, while an example of B2B growth marketing would be a company experimenting with different ad copy and targeting strategies to find the most effective way to reach their audience.
Why should businesses leverage B2B Growth Marketing?
According to recent studies, a staggering 61% of marketing teams identify generating traffic and qualified leads as one of their most daunting challenges. It comes as no surprise then, that B2B growth marketing has become increasingly popular amongst brands seeking to improve their lead generation efforts. Apart from its ability to enhance lead generation and drive sales, B2B growth marketing offers several other notable benefits worth considering.
Here are some key reasons why B2B growth marketing is essential for businesses:
1. Competitive Advantage: In today's competitive business landscape, it's not enough to simply have a good product or service. B2B growth marketing helps businesses differentiate themselves from their competitors by using data-driven strategies to target potential customers and drive rapid growth.
2. Scalability: Traditional marketing methods such as print advertising or trade shows are limited by their scalability. B2B growth marketing, on the other hand, uses digital channels such as social media advertising, SEO, and email marketing to reach a large audience quickly and easily.
3. Better ROI: B2B growth marketing allows businesses to track and analyze their marketing efforts in real-time, which means they can quickly adjust their strategies to optimize for better ROI. This makes B2B growth marketing more cost-effective than traditional marketing methods that can be difficult to measure.
4. Experimentation: B2B growth marketing involves a culture of experimentation, where businesses are encouraged to try new things and learn from their failures. This leads to a continuous improvement cycle that can help businesses achieve sustained growth over time.
5. Customer-centric: B2B growth marketing focuses on understanding the needs and preferences of customers and tailoring marketing efforts accordingly. By putting the customer at the center of the marketing strategy, businesses can build stronger relationships and drive more meaningful engagement.
Top B2B Growth Marketing Strategies
Know your position in the market
In marketing, the importance of conducting thorough research for B2B marketing strategies is often overlooked. However, research serves as the foundation of the whole process and can determine the success or failure of a marketing campaign. It's crucial to continuously conduct research since the online marketing landscape is constantly evolving. Several areas to keep track of include researching the market, the organization, buyer personas, and key performance metrics.
In order to develop effective B2B marketing strategies, thorough research is crucial. This includes gaining a deep understanding of the market landscape, including competitor activity, emerging technologies, and industry updates.
Resources like BuiltWith.com can be useful for analyzing your competitors' websites, marketing strategies, conversion optimization software, retargeting software, B2B referral programs, and other related aspects.
Additionally, researching the organization itself can provide valuable insights, such as studying the buyer profile of the company and identifying potential decision-makers on social media channels. It's also important to revisit and objectively analyze the needs, challenges, desires, and motivators of your ideal buyer personas, as these characteristics can change over time. Lastly, diving into key performance metrics, email marketing, relevant data points, c-suite insights, and website traffic and associated conversion tracking analytics can provide further insights for developing successful B2B marketing strategies.
Embrace B2B Storytelling
Stories have been used for centuries to entertain, educate, and influence. From ancient myths to modern-day advertisements, stories have proven to be one of the most powerful tools in marketing. Even famous brands like Nike and Apple have attributed their success to the power of storytelling.
Despite this, storytelling is often overlooked in B2B marketing because it's overshadowed by technical aspects like analytics and lead generation. However, emotion plays a crucial role in decision-making, even in B2B sales and marketing. That's why storytelling is vital for creating a connection with potential customers and driving them to take action.
If you embrace the power of storytelling, you can create narratives that will stay with your audience and motivate them to take action. One of the best ways to use storytelling in your marketing strategy is by telling your brand's story and mission. This type of story can help build a stronger connection with your target market and show them that your company is more than just the products or services you offer.
Another effective way to use storytelling is through various forms of content, including images, videos, and GIFs. The possibilities are endless, but the key is to tell your brand's story in an emotional way that resonates with people.
By incorporating storytelling into your marketing strategy, you can create a powerful connection with your target audience, leading to higher conversion rates and more loyal customers. Don't hesitate to embrace the power of storytelling in your B2B growth marketing efforts – it could make all the difference.
Optimize your marketing funnel
Marketing funnel optimization is the process of analyzing and improving the different stages of a marketing funnel to generate more leads and revenue. For B2B businesses, optimizing the marketing funnel can help them attract and convert more leads into customers. Here are the steps a B2B business can take to optimize their marketing funnel:
1. Define the funnel stages: A B2B business must define the different stages of their marketing funnel, such as awareness, consideration, and decision-making.
2. Analyze the data: Collect data on the performance of each stage of the funnel to identify areas for improvement. Metrics like conversion rates, time spent in each stage, and customer behavior can help businesses identify bottlenecks and opportunities for optimization.
3. Create compelling content: Create content that is tailored to each stage of the funnel. For example, businesses can create blog posts, ebooks, and webinars to attract and educate potential customers.
4. Use targeted ads: Use targeted ads to reach potential customers at each stage of the funnel. For example, businesses can use social media ads to reach customers who are in the consideration stage.
5. Optimize the user experience: Ensure that the user experience is optimized for each stage of the funnel. This includes making it easy for customers to sign up for a trial, request a demo, or make a purchase.
6. Use lead magnets: Offer lead magnets such as free trials, demos, and consultations to encourage potential customers to take the next step in the funnel.
Build a multi-channel acquisition strategy
Multi-channel customer acquisition is a powerful growth strategy that can help businesses reach their target B2B audience more effectively. By using a combination of different channels such as social media, email, PPC advertising, events, and more, businesses can increase their reach and target customers at different stages of the buying journey.
Here are some ways businesses can use multi-channel customer acquisition to generate leads:
1. Use social media to reach potential customers: LinkedIn B2B lead generation and b2b marketing on Twitter can be great for companies to reach potential customers. By sharing valuable content, engaging with the audience, and promoting their brand, businesses can build relationships with their target audience and generate leads.
2. Use email marketing to nurture leads: Email marketing is an effective way to keep in touch with potential customers and nurture leads. By providing relevant and helpful content, businesses can build trust and establish themselves as experts in their field.
3. Use PPC advertising to target specific audiences: Pay-per-click (PPC) advertising is a targeted advertising strategy that can help businesses reach potential customers who are actively searching for their products or services. By using keywords, demographics, and other targeting options, businesses can reach their target audience more effectively.
4. Host events to build relationships: Hosting events such as webinars, workshops, and conferences is a great way for businesses to build relationships with potential customers. By providing valuable content and networking opportunities, businesses can generate leads and establish themselves as thought leaders in their industry.
5. Use referral marketing to expand reach: Referral marketing is a strategy that encourages existing customers to refer new customers to the business. By incentivizing referrals, businesses can expand their reach and generate new leads.
Leverage data-driven strategy refinement
A data-driven strategy refinement approach is a powerful tool that B2B businesses can use to generate leads. By analyzing data, businesses can refine their strategies, optimize their campaigns, and increase their chances of success.
First, businesses should collect data on their target audience, including demographics, behaviors, and preferences. This information can be gathered through surveys, website analytics, social media metrics, and other sources.
Next, businesses should use this data to create targeted marketing campaigns. By tailoring their messaging and advertising to the specific needs and interests of their target audience, businesses can increase their conversion rates and generate more leads.
Data can also be used to optimize campaigns and refine strategies. By analyzing which channels and tactics are most effective, businesses can allocate their resources more efficiently and increase their ROI.
For example, a B2B software company might analyze data from their website and social media accounts to determine which channels are driving the most traffic and generating the most leads. They might discover that their LinkedIn page is driving the most traffic and leads, and decide to focus more on creating engaging content and running targeted advertising campaigns on that platform.
Additionally, businesses can use data to track and measure the success of their lead generation efforts. By setting up KPIs and tracking metrics like website visits, form fills, and email open rates, businesses can see which campaigns are performing well and make adjustments as needed.
Build a LinkedIn Lead Generating Machine
LinkedIn is a powerful social network that B2B marketers often overlook. While mainstream social media platforms are important for expanding your reach, relying solely on them can limit the growth of your marketing campaign. Here are some reasons why LinkedIn is an essential platform for B2B marketing:
1. LinkedIn helps develop your brand image
While your company’s Twitter and Facebook profiles may attract attention, your LinkedIn profile helps you develop and maintain the image of a reliable brand. LinkedIn is the ultimate social network for B2B marketing, providing a platform to showcase your expertise, build relationships, and establish credibility in your industry.
2. LinkedIn helps you generate leads
The process of generating leads through LinkedIn is simple. You can target people you want to connect with, and if they accept your connection request, you can present your offer through messages that will attract and guide them down the marketing funnel. These people may be business owners or managers who would be interested in your offer, so you can reach out to them and establish valuable connections.
3. LinkedIn helps your company's reputation grow
As you keep attracting more people via LinkedIn, the reputation of your company will grow, too. With its professional community, LinkedIn provides a platform to connect with industry leaders, potential clients, and employees, thereby expanding your network and increasing your reach.
4. LinkedIn blogging opportunity
LinkedIn provides a platform for users to share blog updates. Posting detailed and powerful blog updates can help establish your brand as an authoritative expert in your industry. Additionally, by using the right keywords, your posts will easily appear in Google’s search results. Make sure to stick to specific topics that are related to your business, but are not covered well by the competition.
Garner interest-based leads with ABM
Account-based marketing (ABM) is a highly effective approach for generating B2B leads. This strategy focuses on identifying high-value accounts and then tailoring your marketing efforts specifically to them. Here are some key steps businesses can take to implement an effective ABM strategy:
1. Identify your ideal customer profile: The first step in ABM is to identify your ideal customer profile (ICP). This involves creating a detailed profile of the types of companies that are most likely to benefit from your products or services. This will help you to focus your efforts on the accounts that are most likely to convert.
2. Build a targeted account list: Once you have identified your ICP, you can start building a targeted account list. This list should include companies that fit your ICP and have a high likelihood of becoming customers. You can use various data sources, such as firmographic and technographic data, to identify these accounts.
3. Personalize your messaging: With your account list in hand, you can begin to personalize your messaging for each account. This involves creating customized content and messaging that speaks directly to the challenges and pain points of each account. You can use various tactics, such as social media, email marketing, and personalized landing pages, to deliver your messaging.
4. Engage with decision-makers: One of the key benefits of ABM is that it enables you to focus your efforts on the decision-makers within each account. You can use various tactics, such as targeted LinkedIn ads and personalized email campaigns, to engage with these individuals and build relationships with them.
5. Measure and optimize: As with any marketing strategy, it is important to measure and optimize your ABM efforts. You can use various metrics, such as engagement rates and conversion rates, to track the effectiveness of your campaigns. You can then use this data to refine your strategy and optimize your campaigns for better results.
For example, a software company that provides a project management tool for enterprise-level businesses could use ABM to target specific accounts in the finance and healthcare industries. The company could identify high-value accounts in these industries and then create customized messaging and content specifically for them. They could then use targeted LinkedIn ads and personalized email campaigns to engage with decision-makers within these accounts and build relationships with them. By measuring and optimizing their efforts, the company could generate high-quality B2B leads and ultimately grow their business. They can also onboard a b2b ABM agency to conduct the same.
How to choose the right B2B Growth Marketing Agency?
Choosing the right B2B marketing agency for your brand can be a daunting task. But with the right criteria, you can make an informed decision that will bring the desired results. In this article, we will discuss the top factors to consider when selecting a growth marketing agency.
- Determine Your Needs And Musts
Before selecting a b2b marketing agency, you should identify your specific needs. While most growth marketing agencies take a holistic approach to building your brand, they are not created equal. Some agencies are experts in SEO, while others excel in content marketing. Ensure that the agency you select has experts in the areas you need the most help with. Also, ensure that they have the ability to integrate strategies across channels.
- Select A Niche-Specific Growth Agency
Choose an agency that has experience and expertise in your industry. They should understand the competitive landscape and know how to find solutions unique to your industry and your products. For instance, if you're in the SaaS industry, you want a SaaS growth marketing agency that has experience working with other SaaS brands.
- Ask for Case Studies
Ask for case studies that showcase client success. Look for real, measurable numbers that show exactly how much the agency grew the brand’s traffic and revenue. Review the channels and metrics they used to measure success. Be wary of agencies that are vague and nonspecific. Additionally, review client testimonials, ratings, and certifications.
- Search for Social Proof
Social proof is a key part of evaluating a b2b growth marketing agency. Social proof includes client testimonials, reviews and ratings, trust signals, and certifications. Ensure that the agency has social proof, as it increases its perception as trusted, respected, and credible.
- Ask for Real SMART Goals
Be wary of agencies that make sweeping claims about the kind of growth they’ll deliver your brand. Instead, look for agencies that supply SMART goals. Ensure that any results the agency promises are based on a SMART objective. These goals should be realistic, attainable, and should have a specific timeline attached, so you know what you expect and when.
- Look For A Customized Growth Strategy
Growth marketing isn’t one-size-fits-all. A quality b2b growth marketing agency will build a strategy tailored to your brand, based on the industry, your business objectives, and your current performance. Be wary of agencies that promise the same amount of growth for each client.
- Set An On-demand Scale Strategy
As your business grows, you want your agency to grow with it. Ensure that the agency you select has the tools and processes in place to scale with your business. They should be able to scale up as needed to meet your growing needs.
- Ensure They’re Updated With The Latest Trends
An effective b2b growth marketing agency will employ growth hacking techniques to build your brand. To do that, they’ll need to be well-versed in all of the marketing technology available to them. Ensure that the agency has access to the technology and understands how to use it. Be wary of agencies that get distracted by every shiny app that comes along.
- Ensure They’re Offering The Right Price
Ensure that the agency designs a pricing structure that fits your brand and your needs. Be wary of agencies that promise results for “just” a certain price point.
Why is TripleDart the best B2B growth marketing agency?
TripleDart is the ultimate SaaS Growth Focused Agency. We specialize in providing top-notch growth marketing services to help businesses like yours achieve their growth objectives.
Here are some reasons why we offer the best growth marketing services in the industry:
1. Strategic Approach: At TripleDart, we take a data-driven approach to growth marketing. We use advanced analytics tools to analyze your business data and identify growth opportunities. This allows us to develop a customized growth strategy tailored to your specific business needs.
2. Experienced Team: Our team is composed of experienced growth marketers who have a deep understanding of the SaaS industry. We have worked with numerous SaaS businesses, ranging from startups to established companies, and have a proven track record of delivering exceptional results.
3. Holistic Services: We offer a wide range of growth marketing services, including SEO, PPC, content marketing, social media marketing, email marketing, and more. Our holistic approach ensures that all aspects of your growth strategy are covered, and we can tailor our services to fit your specific needs.
4. Focus on ROI: Our ultimate goal is to help you achieve a positive ROI on your marketing investment. We constantly monitor and optimize our campaigns to ensure that you get the best possible results.
5. Transparent Reporting: We believe in transparency and accountability. We provide our clients with regular reports on the performance of their campaigns, so you can see exactly how your investment is paying off.
Do you wanna know more on how we can help your business scale with growth marketing? Reach out to us.