How many times have we heard of a business owner investing large amounts of time and money into a campaign that was supposed to bring in lots of new business opportunities… yet it failed miserably? There are some examples that we could provide that are pretty well known, however, Nomvo is not interested in that type of negative publicity for any company or business. What that said, one of the reasons that some businesses have experienced this type of failure is that they may have ignored the fact that any business investing in marketing should always look for a strategy that is best suited for their unique goals, target audience, and budget.
So how can you find out which B2B marketing strategy is best for your business? We don’t have an answer that can be applied to every business, in every country, despite the unique circumstances that come along with those different businesses… but we can give you a few things to consider to help you answer this question for yourself.
1) What Are Your Overall Business Goals?
This is definitely a question that needs to be answered because if you tried to establish and invest in a strategy but you have no targets or goals in place, it is very likely that you will not end up where you want to be. Are you trying to get more viewers on your website, or are you trying to get more people to call in for business inquiries, or are you trying to change the reputation that your company or brand has online, or is it something else?
The point is this, there’s no way that someone outside of your organization can determine what your goals are. But once those goals have been clearly defined and accepted… then it is much easier to decide on a marketing strategy that is going to bring in new B2B leads for your business.
2) What Type Of B2B Marketing Have You Done In The Past?
This is a really important question because whatever form of marketing you may have implemented in the past and depending on how successful it was, you can have a clear idea of the type of tactics that you want to stay away from as well as the types of marketing tactics you want to implement.
If you have never implemented any type of B2B marketing in the past, then answering the next question should probably be your next step.
3) What B2B Marketing Strategy Are Your Competitors Succeeding With?
One of the most important things that a lot of companies fail to realize when trying to decide on and implement a new marketing strategy is the type of strategy that competitors are succeeding with. Some people feel that this is not the best way to go, but here’s why it’s usually a great idea in just about every type of B2B marketing.
If a person that was interested in trying to make money in horse racing realized that the fastest horses ran only about 30 miles an hour, and this individual decided to get a cheetah painted like a horse to join the races since cheetah’s can run faster than 50 miles an hour… they probably would not get very far. Why is that? Because they tried to bring a cheetah to a horse race.
So what’s the point? Find out what is already working well for your competitors in your industry, and then do it better. Trying to come up with a brand new strategy that has never been done or may not be accepted can end up being a huge waste of time and money.
4) What Is Your Marketing Budget?
This should be pretty obvious, but in the case of those that disagree… since there are many forms of marketing that can be implemented, having a clear understanding of your available budget will narrow down the types of B2B marketing tactics available to you.
5) Where Does Your Target Audience Typically Look For The Products And/Or Services That You Offer?
The answer to this question might seem obvious, since most of the time people are looking online for the services and products that they want. If that is the case for your business, then it will probably be a no-brainer to look into some type of online B2B marketing strategies.
While there are many companies and individuals that claim to be digital marketing experts, we highly suggest that you spend some time looking into some of the tips that have been shared, both here at Nomvo.com and elsewhere, about finding the best companies to work with and the digital marketing companies you should stay away from.
So at the end of today…
Before anyone can help you determine whether or not you should be looking into choosing a B2B marketing strategy, it’s probably a much better use of your time and energy to answer some of the questions above. If you have already done so and are looking for more expert insight on what the next steps should be, feel free to reach out to us by leaving a comment below or sending us a message on our contact us page. Nomvo!