B2B growth marketing focuses on generating leads from qualified prospects using social media, email marketing, and other online marketing strategies. You can accelerate your business growth by nailing down ICP (Ideal Customer Profile), your market position, and how you differentiate your offering from market alternatives. But this is the first step. Then comes the critical part – customers.
Growth marketing is sometimes mistakenly measured in new client acquisition alone. However, to achieve revenue growth, you must activate and retain existing clients and encourage them to purchase more from you. The prime aim of b2b growth marketing is to help clients become successful, so they want to buy more, stay loyal, and promote your brand to their peers. That’s how to achieve sustainable revenue growth, neat, right?
Let’s dig deeper into the b2b growth marketing benefits for different industries.
B2B growth marketing for tech orientated companies
For tech companies, b2b growth marketing can help spread significant brand awareness. Tech companies can allow potential clients to experience their products first-hand. If your product actually does what it promises, clients will become hooked. After that, give your clients a good reason to upgrade by defining how your product will help them increase ROI.
Moreover, no two organizations are the same. B2b growth marketing helps tech firms analyze their current state and map their biggest growth opportunities. For the tech industry, growth comes to stay, but it’s essential to test multiple channels for marketing instead of relying on 1 or 2. For instance, some channels are best to serve as centerpieces of b2b growth marketing strategy while others are good in supplemental capacity.
Creating thought leadership content is crucial for b2b growth marketing for tech companies. It establishes your brand as an authority, ultimately leading to higher conversion rates. Remember to create concise and accurate content, as tech blogs contain intricate technical details. Your content must articulate complex information with relative ease to drive desired growth.
B2B growth marketing for sales orientated companies
According to HubSpot, 61% of marketing teams claim that generating qualified leads and website traffic is their top challenge. However, getting new leads and increasing sales is the main advantage of b2b growth marketing strategies.
Let’s discuss the top 3 benefits of b2b growth marketing that ultimately bring revenue growth for the sales sector.
Increased brand awareness
B2b growth marketing helps businesses build their brand and reputation. Creating top-notch content and advertising campaigns makes a business become a recognizable brand. Increased brand awareness helps build the brand’s credibility with the target audience.
Improved SEO rank
When you utilize content marketing effectively, your brand ends up ranking higher in Google’s search engine. You can adequately optimize the content using SEO best practices and encourage users to share that. This will ensure that the content is ranked, put in front of the target audience, and bring significant sales.
Enhanced customer experience
By utilizing b2b growth marketing tactics like email marketing, you can communicate with potential leads in a personalized way. This will lead to higher conversion rates and better client retention rates. And what else can bring more sales than word-of-mouth marketing by satisfied clients?
B2B growth marketing for eCommerce orientated companies
Of course, classic marketing strategies like promoting at industry events, running multiple ads, and asking for referrals have their place. However, if you want significant ROI for your eCommerce business, your top priority should be b2b growth marketing.
For eCommerce, b2b growth marketing helps scale strategic content to target potential buyer personas. For instance, when you develop personalized content for your important customer segments, your clients are more likely to respond well. Since b2b buyers prefer industry-specific content, this approach will bring more significant results than a one-size-fits-all strategy. Moreover, paired with good SEO copywriting and keyword research, eCommerce businesses can get more targeted organic traffic. Eventually, a significant portion will convert into actual purchases.
For eCommerce sectors, when using social media platforms as a part of a b2b growth marketing strategy, it’s crucial to focus on engagement instead of metrics like posting frequency. Post and ghost may seem a good strategy, but for influencers who want to escape the stress of reading comments. It’s not suitable for b2b eCommerce businesses – the main aim is to build relationships by increasing interactions.
B2B growth marketing for small companies
With excessive competition, many b2b companies struggle to market their small business successfully. A poorly performing marketing hits the small businesses where it hurts…higher client acquisition costs and lower sales. A significant marketing performance gap is emerging rapidly for many companies. This gap is mainly around:
- The ability to rebuild plans, tactics, and strategies that are efficient in the digital marketplace, namely, generate and nurture potential leads that result in increased revenue.
- Effective use of marketing channels and tools.
Here b2b growth marketing helps small businesses by implementing cost-effective approaches like email marketing, social media ad campaigns, etc. According to Databox, 45% of businesses send their subscribers one email every week. Through email marketing, low-budget businesses can acquire new clients, retain existing ones and promote or upsell their products. To drive significant growth with limited resources, generate a lead magnet – something free and beneficial that seems worthy to clients for exchanging their emails. Click here to learn about what makes a lead magnet unsuccessful.
Furthermore, LinkedIn and Twitter are the top 2 social media platforms for b2b companies. Social media can drive significant growth to small businesses only when done right. Many b2b companies use their social profiles to only share photos of their teams or post product updates. No one wants to follow a brand that only focuses on sales pitches.
Therefore, leverage b2b growth marketing by sharing relevant, interesting, and entertaining content. Offer valuable tips, advice, and insights. Besides that, PPC (paid-per-click) is effective for new small b2b businesses wanting to accelerate growth. There’re different options and platforms to choose from, including Facebook ads, Google ads, LinkedIn ads, TikTok ads, etc. Paid marketing is the only way of b2b growth marketing strategy that drives significant growth and revenue in minimal time.
B2B growth marketing for SaaS orientated companies
When implemented efficiently, b2b growth marketing work amazingly for SaaS companies. The challenge is to develop a scalable strategy due to the significant growth of CPM in social media and the exorbitant cost of clicks in paid search.
An effective b2b growth marketing strategy for SaaS companies consists of the following:
- Developing buyer personas
- Combining marketing channels strategically
- Creating optimized content for client acquisition and retention
- Setting KPIs
- Measuring success
Using specific arms of b2b growth marketing such as social media and community building, it’s easier for SaaS companies to upsell to existing clients as clients feel camaraderie and loyalty with a brand. Moreover, client feedback is vital for SaaS companies as it provides a glimpse into their client’s needs and expectations. B2b growth marketing help get direct client feedback through instant chat, survey popups, or support requests.
6 growth marketing metrics every marketing manager must track in 2023
CAC (Customer acquisition cost)
You can identify your marketing and sales efforts’ ROI by understanding CAC. When CAC s high, it means your growth marketing strategy needs to be upgraded. To calculate CAC, add monthly marketing expenditure, including the marketing team’s salary, then divide that by the number of new clients you acquired in a certain period.
This is one way to do it; another way is to isolate the marketing efforts from staff. Often the staff doesn’t have access to the salary info about their colleagues. When using an external agency, that’s never an option. So CAC is the total measurable cost to generate a client.
If using telemarketing in-house or outsourced, there will often be an average number to work with though. And CAC is relative to customer value. For a company selling a 100€ product, 500€ would be an unsustainable cost, and for a company selling a 10.000€ product, 500€ would be a very low CAC. For services that are annual, it is common to operate with a year zero that gives no profit. So the CAC is equal to the revenue first year from that client.
Engagement metrics measure the percentage of your audience that engages with your content via reactions, shares, and comments. How you define “audience” can vary. You can calculate the engagement rate relative to your number of followers. However, not all your followers will see every post, and you might get engagement from visitors who don’t yet follow you.
Engagement metrics indicate if there’s a mismatch between your audience and your content. When your engagement rate is low, you may have obtained followers that aren’t your target customers. You can calculate the engagement rate by dividing the total engagement by the total followers, and then multiplying it by 100.
One of the reasons you send an email newsletter is to get the audience to click on something. Therefore, tracking the number of clicks on newsletters is a great way to determine if your newsletter is valuable. If the number is gradually going down, you must rethink your newsletter strategy.
Besides measuring clicks on emails, also analyze what the audience does after the click. Do they sign up for the online seminar you advertised? Do they convert on the landing page? Or maybe they click on a CTA in the blog post? Whatever action you want subscribers to take after clicking on your email, keep track of it. You send emails for a cause other than merely getting clicks; you want them to take action, whether becoming a customer or consuming a piece of content.
The amount of traffic a website receives from search engines determines the importance of organic positioning. The better placed a website is on the search results of a search engine, like Google, the more visitors it will receive. By tracking and improving your organic positioning, you can generate quality leads that have great conversion potential.
Moreover, higher organic positioning significantly improves click-through rates, which ultimately boosts brand awareness and business even further.
There are multiple analytics tools to monitor and track your clients’ activities on your website or social media platforms. But there isn’t any point in building a client base if you can’t retain them. By keeping track of the website metric’s bounce rate, you can determine how long the audience stays on your page. If the bounce rate is lower, it means your content is capable of retaining clients. However, you must change your strategy immediately if the bounce rate is high. This can be done by changing or repurposing the content, using better-quality images/videos, etc.
Whether you’re a marketer, C-suite executive, product developer, or salesperson, knowing your competitors and tracking how they’re performing is pivotal. Monitoring competitors reveal their weaknesses and flaws, allowing marketers to use any shortcomings to their advantage. Monitoring competitors reveal their weaknesses and flaws, allowing marketers to use any shortcomings to their advantage. Furthermore, you can evaluate their business plan performance and adapt yours accordingly to learn from their successes or mistakes. With quality analysis and the right data, you can get valuable insights that can hint at future intentions.
Over to you!
Profitability isn’t the “be all end all” for b2b companies. It’s growing the client base and grabbing the market share while disrupting the existing market. When we talk about b2b growth marketing, there are multiple strategies and tactics to grow your business. But it’s crucial to utilize the relevant ones for your potential audience.
Above all else, iterating on your b2b growth marketing strategy successfully requires patience. Any changes you make must be given ample time to show results in an actionable, measurable way. Moreover, ensure to make a single change at a time to identify the exact cause of any successful-seeming changes before rebuilding them for an entire marketing program. You can shift the course before overspending on an unsuccessful approach by consistently testing, iterating, and measuring.