As a business owner or marketing director, how would your life be different if your existing profits were two, three, or even ten times more than what they currently are? Would you be in a better position to offer an even better product or service? Could you improve on your current pricing structure in order to have the upper hand on your competitors? Might you get that year end bonus that you’ve been hoping to get?
Whatever increased profits would do for your business and you personally, there are 4 simple ways you can have all of these things in more with B2B internet marketing. Keep reading to find out how this form of marketing can drastically improve the profits for any business in the B2B space.
1) Customers Find You
- This is by far the biggest reason that investing in this type of marketing is worth every penny, and is highly suggested. It’s the difference between an upscale restaurant going door to door trying to sell their “famous” filet mignon vs their operating as a reservation only restaurant with limited seating. The difference is one of these forms of marketing will result in making a bad name for their brand and product, while the other encourages customers to come enjoy their product when they are ready to do so. When businesses in the B2B space focus their energy and resources on the type of marketing that puts them in their target client’s face when the client is actually looking for their service, their profits are much higher than they could have ever expected. How do you go about doing that? There are a number of ways, but the top two are paid advertising, and the other is search engine optimization. Our recommendation is always SEO, but it really depends on your timetable, budget, and industry.
2) Competitors Miss Opportunities
- With paid ads and SEO being the most lucrative and popular way to generate more business from B2B clients, one would think that every company is doing it; but in what seems to be 99% of industries currently marketing online, most businesses do not use this form of marketing. With the revenues of large companies and startups being talked about more and more, it’s a known fact that internet marketing is the way to go to turn a business of any size to one that’s revenue is well into the millions; sometimes billions. However, most other companies in your industry, AKA your competitors, are not investing in this type of marketing or they are doing it wrong. You might be wondering… “How can you make such a blanket statement?” In short, it’s due to the fact that:
- A) As time goes on, and businesses evolve and grow… there are new opportunities to expand and reach your target audience. With that being the case, most companies do not have a marketing team in place to follow those trends and capitolize on their on market.
- B) Mainstream digital marketing is so young, most companies have no been doing it longer than 3-4 years; but in most cases is more like 1-2 years. The only organizations that we’ve seen doing it longer than that are typically enterprise, fortune500 companies; but even then they are often overlooking huge opportunities for growth and reach.
- …therefore, this type of B2B marketing online can bring in massive profits by targeting the opportunities your competitors are overlooking and missing.
3) Cost Per Lead Tracking
- Most traditional and conventional forms of marketing uses a spray and pray method which basically comes down to throwing everything at the wall and watching what sticks. For decades the mindset behind most forms of marketing, is “if I spend X amount of dollars, as long as I get Y amount of revenue from it, I’ll make Z amount of profit from it all.” While that form of marketing still works well, and has made countless millions and billions over the years, with internet marketing you can actually find out EXACTLY how much you have to pay per client/lead. This doesn’t mean that you’re actually buying leads, but when you focus on internet marketing you can literally know and track how much it costs you to have a new customer based on the amount of leads that came in as well as how much you paid for the given campaign or month.
4) Avoid Revenue Drops Due To Seasonality
- One of the worst aspects of running a business, specifically in the B2B space is seasonality. It’s a fact that in almost every business, the amount of revenue earned is subject to things like time of year, weather, which quarter we’re in, when school starts, when school ends, how the real estate marketing is doing, and etc etc… and the list goes on and on. For those companies that invest in digital marketing online for B2B’s, they find that they can still bring in plenty of revenue and profits. How is that? Well, although seasonality cannot be altered or slowed down, new customers do not stop looking for your product or services entirely… it’s just that not as many people are looking for it. If you have an internet marketing campaign in place however, you can be one of or even the primary business people see when looking for what you have to offer during the slow season. Additionally, for those companies that get a marketing plan put in place early enough they can see literally no drop in business at all if they map things out and spread them out over the year.
Obviously there are other ways that internet marketing can greatly increase profits for your B2B company, but these are 4 of the most common ways. If you have experience in any of these, or you have suggestions on others that we may have overlooked, please feel free to leave a comment below. Additionally, if you need assistance in trying to find the best service or company to work with to offer you this type of online marketing, feel free to contact us. Nomvo!