25 January 2021
B2B marketing always needs a deft touch.
Even though, as a B2B marketer, you’re expected to acquire the right leads and then leave the rest in your sales team’s hands, it’s still a much more complicated process than B2C marketing.
After all, you’re responsible for promoting products or services that tend to be on the more technical and sophisticated side of things.
The complexity is mirrored in 50% of B2B companies’ budgets, as they invest a minimum of 10% of their annual budgets for marketing.
That brings us to the main B2B selling challenges that you need to be aware of, so you can have a marketing plan tailored to your potential clients.
Keep on reading for the full breakdown of the top five B2B selling challenges and how to overcome them.
1. B2B selling to too many buyers
At first, the notion that a single client is an amalgam of many different decision-makers can be overwhelming.
One of the main challenges when it comes to B2B selling is understanding that you’ll have to market your product or services to different buyer personas potentially.
Besides, depending on the nature of your solution, you might have to deal with multiple buying roles. For instance, some companies will have a whole committee or even non-buyers involved in meetings and the decision-making process.
Therefore, as a B2B seller, you’ll need astronomical data to create the right profile for the decision-makers. You can use solutions like data consulting to cut through the white noise and get the information you need.
2. Reaching the right individuals
Getting your brand noticed by the right people at the right time can substantially increase your company’s odds of getting a quality lead.
As it were, B2B marketers need to be able to attract and engage with the right stakeholders involved in the buying decisions. Furthermore, they need to keep their attention throughout every single stage of the sales funnel.
To have a successful B2B marketing campaign, you’ll need to create content that fits both the influencers and your potential clients’ decision-makers.
This brings us to the importance of setting your brand apart from the rest.
With social media and the numerous forms of online advertising, every B2B company, from small start-ups to massive global corporations, will be competing for your potential client’s attention.
This is where you should implement your B2B marketing strategy is a way that highlights what your product or service has to offer that’s unique to your company.
Moreover, directing your focus to inbound marketing can create a plethora of opportunities in providing value and engaging content to your potential client.
Of course, not every platform is made equal when it comes to reaching your targeted audience. For example, posting well-written leadership pieces on LinkedIn by CEOs can go a long way in establishing authority.
On the other hand, if you’re aiming for attracting small-businesses and media-based companies, then creating a series of YouTube videos would be the way to go.
In addition, don’t underestimate the power of going to your clients where they are, instead of having them conduct the search and potentially finding your competitors. For instance, specialized B2B portals and global sites are a great place for your clients to find you. These platforms are unique in their ability to match local clients with B2B suppliers, which will be tremendously helpful to improve their value chain.
Regardless of what platform you choose, it’s important to post consistently, which will ultimately help with your brand establishment and help build a brand image that comes across as reliable and professional. Don’t hesitate to have a look at Kompass.com, the Global B2B portal where we connect Buyers and Trustworthy Suppliers all over the world.
3. Aligning marketing and sales
We’ve all heard the statistic on how 70% of the B2B buyer’s journey tends to be completed entirely online.
Once you add that more than 85% of their decision will be made without human interaction as of 2020, and you’ll have to start managing marketing and sales as two-sides of the same coin.
To have both teams reach the ultimate goal of increased lead generation, then a form of integration between both departments is essential.
The integration between sales and marketing is much more seamless today than it was ten years ago. It’s critical to reach a high degree of alignment, as both can be considered ‘client-facing’ when messaging and finalizing a sale.
4. Managing reputation
One of the unique characteristics of the B2B market is the considerable influence that brand reputation can have on your ability to attract new customers.
Thus, having a good reputation with your current and previous clients can help boost your company when it comes to competing with similar brands.
Cherish your customers by having a substantial human element in every single step of your buyer’s journey. By doing so, you can turn the image of the faceless corporation into a trustworthy brand that cares about their clients and their success.
That’s why it’s vital to follow up with your clients, whether by sending brief follow-up emails after phone calls or simple ‘thank you’ emails after a deal has been completed.
All of these small steps will help keep the communication lines open, which will help with continual business and build a good reputation in your field.
5. The globalization of marketing
Globalization is a simple concept, in theory. However, in practice, things can become rather complicated, especially with B2B selling.
With diverse markets that are open to your company, it’s a tricky balance to keep true to your brand and still have it suited to different markets with a plethora of varying needs and wants.
Since what might work in a single market might not work for another, you’ll have to ensure that your marketing (and content) goes through the lens of the receiving market. It’s not enough to translate your copy from one language to another.
You’ll have to ensure that your content fits the region’s habits and values, at least to a certain degree.
B2B data: the key to unlocking B2B markets
Understanding the critical B2B selling challenges that haunt B2B marketers can transform your company’s lead generation, which will boost your bottom line profits.
Now that you’re aware of the top five B2B selling challenges, you can go ahead and start tackling these concerns one at a time. Yet, keep in mind that you’ll have to have the right data on hand to help guide your decisions.
Speaking of data and information, make sure to check out our blog for all the latest tips on increasing your client base. For instance, there’s a great piece on how to win clients in 2020 that you’ll want to check out.