The B2B (business-to-business) marketing landscape has changed tremendously over the last few years. Today, transactions are digital and millennials comprise nearly half of all B2B buyers. If you are a B2B business owner or marketer in Singapore, you have to stay up-to-date with the changing marketing landscape to survive.
From machine learning, voice search to artificial intelligence, trends evolve fast and your goal is to become an early adopter.
Even as 2019 comes to a close, there are some strategies that B2B marketers in the country can still leverage. These include:
1. Creating a Clear Marketing Plan
It might sound cliché but failure to plan translates to planning to fail. If you don’t have a formal marketing plan, you will react sporadically to situations in the marketplace. It sets your business up for failure.
2. Start With Strategic Marketing Objectives
Create marketing objectives without losing sight of your customers. These will help differentiate your brand in the marketplace.
3. Invest in Brand Identity
While much of the focus by B2B businesses is in boosting the bottom-line, there’s a need to develop and drive consistent brand identity.
This strategy dovetails into your marketing efforts as you provide a positive customer experience wherever you come into contact with your target customers.
4. Relevant Content is King
Creating content tailored for the buyers is a smart B2B marketing strategy for 2019. You need to understand your target customers and create content that helps them.
5. Measure Results
You need to develop and track marketing ROI Metrics to prove the value of your campaigns to the company’s bottom line.
6. Better Alignment of Business Campaigns
Most B2B marketers in Singapore continue experiencing difficulties due to a lack of coordination in their organizations. Improved collaboration between sales and marketing, for instance, will boost ROI as it allows teams to work with one goal in mind.
7. Map Your Customer Journey and Improve It
Create content that addresses pain points to provide a memorable experience. Your content must meet the customer’s expectations. That’s why you need to create buyer personas to develop relevant content.
8. Ride on Big Data
You need to leverage advanced data analytics to get better consumer insight. This helps improve omnichannel customer experiences, boost lead generation, conversion rates and much more.
Working with a reliable digital marketing agency in Singapore helps you leverage data from multiple contact points. These professionals have the tools to help with data generation and analysis. This data comes in handy in your marketing strategy.
9. Automation in Marketing
You need to leverage automated technology for your marketing campaigns. It is easier to increase your reach and customize your interactions using automated marketing. These tools also help with tracking and auditing your marketing campaigns.
10. Leverage Rise of Mobile
There are 4.3 million active mobile social Singaporeans. It means 75% of the country’s population is available for targeting through a mobile-first strategy. Create responsive content which is mobile-ready and invest in a business app for better engagement.
11. Harness the Power of Video
Video is the future of B2B marketing. It is a versatile tool for brand awareness, product promotions, internal communication, brand visibility, SEO strategies and boosting engagement levels.
12. Multichannel Marketing
Your target buyers use multiple channels, and so should you. You have to broaden your channels beyond traditional emails and include social media, among other channels.
13. Partner with a Digital Marketing agency
A DIY marketing campaign might seem like the most affordable and simplest idea, but it is ineffective. Working with a renowned digital marketing agency in Singapore gives you access to resources, technology, and expertise and experience you can’t get in-house.
14. Determine Your Revenue Spend on Marketing
How much should you spend on your marketing campaigns? To resolve the discord between the marketing team and management, go for 10% and above as the ideal spending on marketing.
15. Account-Based Marketing (ABM)
In Account-Based Marketing (ABM), the focus is on the results and not the strategy you use. When running a marketing campaign, ABM concerns itself with sales conversion rates. It’s not about the lead quantity but the conversion at the end of the day.
16. Consider Retainers Contracts
Most B2B marketing campaigns take long and project contracts can’t work well in this case. Retainer contracts, on the other hand, allow long-term relationships and you get more value for your money.
17. Leverage Emerging Technologies
Digital marketing technologies are fast-paced and evolve quickly. As a B2B marketer, you have to acquire technology competencies as they emerge to become a trendsetter. If you don’t learn these new skills, your business risks lagging.
18. Strengthen Relations With Other Departments
IT and finance come to mind if you want to improve your marketing campaigns.
19. Get a visible marketing advocate
Over 81% of consumers research online before buying. If you can find a senior marketing champion talking about your products online, shoppers will find such content important.
As the B2B marketing landscape continues changing, you need to adapt quickly and embrace the best marketing techniques. These marketing strategies continue dominating the B2B marketing environment and you should deploy them in your campaigns.