Have your buying patterns and preferences changed due to COVID?
I am sure most of you would say, Yes. So have my spending patterns and buying preferences. I am now more thoughtful about where I spend, what I spend on, and how much I spend.
COVID has brought uncertain times with it, and we are all making sure that we save enough and not overspend because we don’t know where we are heading.
If this is so with you and me, what makes you think it is different for B2B.
How did COVID impact B2B business?
It has made businesses thoughtful about their spendings, and their preferences have certainly changed. But this does not mean that B2B isn’t spending!
If your offering is essential, they will purchase it.
Slack subscriptions spiked up while most physical office spaces became redundant.
Two things that can help you in a situation like this are-
- Positioning and On point Marketing.
You will have to redefine your positioning and frame your messages to talk about your offerings firmly. While you do this, you also have to have a healthy marketing game plan to tackle problems and situations like these.
So let me share some tips you should consider while putting together your Marketing Plan to wrestle through COVID times.
5 Things You Should Be Doing to Bump up the Demand for your B2B Product
- Rethink your messaging –
First things first, If your message is still the same as pre-Covid, you fail big time.
As I said earlier, there is so much difference in the B2B and B2C business. The decision-maker in B2B is also eventually a human.
If your messaging isn’t showing any concern about their problem, they will subconsciously blacklist you in their head. And as soon as your ad, email, or blog comes across them, they will be uninterested.
- Relationship Building –
It’s an ideal time to create content that adds value to your prospective clients.
You have to understand that I am building a relationship with my target audience. Today or tomorrow, they will buy from me if I continue to maintain a healthy relationship with them.
Plus, the sales cycle in B2B will be much longer than it was before because of budget cuts and preference changes, so why not build a relationship with the prospect in the meantime, rather than keeping them unattended, leading to their drop off.
- Hyper Personalisation –
Gone are those days where personalization was enough. It’s time to create hyper-personalized content. Use data, analytics, and AI to make your marketing efforts as personalized as possible. Rather than just sending a newsletter with links to your blog. Personalize content based on problems they are facing and give them solutions.
- Alignment of Marketing and Sales –
You have to understand that Marketing and Sales both have to work in an alliance and not have distinct objectives and goals. The collective effort of both brings results, where Marketing takes charge to do all the top of the funnel activities and turn a cold lead into a hot lead before passing it on to sales and salespeople, who convert those leads.
Both work towards the same objective- sales. It happens so that there exists a lot of misalignment between the two.
- Questioning and Experimentation is part of the process –
B2B ads are boring! Let’s first agree on this. As I said earlier, the decision-maker is eventually a human, and if your ads are not talking to him in a way that it keeps him engaged there, it needs to change.
There is no harm in questioning the traditional way of doing things. Because these questions are what lights up curiosity and lead to Experimentation, and we only want that one experimentation to work for us and change everything.
To validate and convey my point better, I would like to show you Netcore’s ad with Rahul Subramanian.
It’s different, It’s not dull, and it doesn’t appeal to the masses, and that is precisely what you want your ads to do. Because B2B ads aren’t made for everyone to understand, but the ad for mobile is made for everyone to understand. So keep experimenting and use your customer’s understanding to target them with those ads on the right platform.
Consumer behavior is Ever-Changing.
Before digital, Marketing was different, then digital came and changed consumer behavior. Marketers with evolving consumer behavior adopted the change and moved to digital.
Consumer behavior is ever-changing, and being a Marketer, it is your responsibility to adapt to the change in their behavior.