With a new year on the horizon, it’s time to consider B2B strategy. A new year brings with it escalating trends and shifts in thinking that you need to consider.
For example, in a 2023 Databox B2B survey, all respondents said they listen to at least one podcast weekly. Forty percent admitted to playing three to four shows each week. That would have been great information to know around the end of 2022.
What do B2B advertising trends look like for 2024, and how can you apply them to your strategies? In this article, take a closer look at the new year.
Demystifying B2B Advertising and Understanding the Landscape
The golden rule of marketing, “Know your audience,” is fundamental in the B2B landscape. It is a broad market, and understanding what drives your target customer is how you break it down.
B2B companies often work with segmented targets. That segmentation continues in 2024 and needs to translate into all advertising efforts. Tailoring marketing based on segmentation can be the driving force behind 2024 B2B strategies.
What are the benefits of market segmentation in B2B?
Targeting the right buyer is critical for both B2C and B2B advertising. However, B2B customers have unique pain points. By segmenting, you create tailored ads that grab the right person’s attention at the right time.
Segmentation also allows for the best use of your marketing resources. If you focus your ads on the segment that generates the most revenue, you maximize your return.
Finally, segmentation can provide a strategic competitive advantage. In 2024, look to target underserved niches and take over a market that others have forgotten. Once you create your targets, you can develop strategies for success.
Navigating the B2B Buyer’s Journey – Strategies for Success
The buyer’s journey is the most significant difference between B2B and B2C marketing. Consumers tend to search for something and then buy it. The process is more complex for businesses. Respondents to the Databox study estimated that it takes more than one month to make a sale once you have a lead.
The B2B buyer’s journey is not a linear one. It can be different for each customer, too. Some companies choose vendors based on a bidding system or committee vote. Others have one or two key decision-makers.
It could even vary based on the purchase amount or the product’s importance. A company will take a different approach to buying a fleet of vehicles than it does to ordering paper clips for the office.
However, you can divide the buyer’s journey into seven distinct stages. They include:
- Awareness – The moment they become aware of a problem or need
- Interest – The exploration of solutions
- Consideration – Actively evaluating options to solve the problem
- Intent – They show a clear intention to purchase
- Evaluation – They evaluate the short list of vendors or products
- Purchase – The deal closes
- Customer retention – They become loyal customers who are happy with their purchases
Effective marketing strategies for B2B address each stage. At awareness, the marketers or sales team might point out a problem. In the consideration stage of the funnel, the sales team should help the buyer better understand why they offer the ideal solution.
Precision in Target Market: Identifying and Connecting with Your Audience
Segmentation is a critical aspect of B2B advertising, as is understanding the buyer’s journey. How do you put these things to work to connect to your target market in 2024?
Buyer personas
The first step is to define buyer personas. Simply create one or two profiles of the ideal clients. Include details like:
- Job title
- Company size
- Revenue
- Industry
- Pain points
This ensures everyone on the team has the same target.
Market research
Interview your current customers to find out what is working for them and what isn’t. This will help you refine your strategy for 2024 to reach more of your target audience.
Also, as part of your market research, mine reviews of your brand and one or two competitors. Find out what reviewers praise the most and what they criticize.
Also, do a year-end survey of the customer service team to see what complaints they receive from clients. This can help you make adjustments where needed.
Focus on analytics
Use analytical tools to better understand what marketing assets drive traffic to the website. See what is generating more leads and what is not as effective.
Exploring Diverse Marketing Channels: Finding Your Ideal Mix
Choosing marketing channels is almost as critical as identifying the target audience. If you are marketing to C-suite buyers on TikTok, you are not using your assets efficiently. What marketing channels are best suited to B2B in 2024?
Blogs
Creating quality blog entries that cover topics of interest to your buyers is a practical starting point. Practice good SEO in all blog posts, remembering to perform keyword research and include links.
Emails
Email continues to be the best form of personalized communication in business. Craft email messages that speak directly to the recipients.
Digital ads
Use data to determine which channels are likely to reach your target audience. Customize your ads to make sure they engage the right people.
Create or attend events
Whether conferences or meet-and-greets, events provide the best networking opportunities. If there isn’t an event that fits the bill, host one. It might be a seminar or a webinar that brings potential customers and industry influencers together.
Make organic searches a priority
Organic searches continue to be the bread and butter of all digital marketing. Put your website and content marketing to work to ensure you reach those first pages.
Add voice searches to your mix for 2024, too. This will require some keyphrases to be conversational, like normal speaking. For instance, you might set up a Q&A on your website or do interviews for your blog. Both will integrate natural spoken keywords that perform well in voice search results.In the new year, let Rock Content help you construct interactive content that stands out from the competition. You can create interactive content using ION without writing one line of code.
