The business-to-business (B2B) approach plays a massive role in the global economy. According to GrandViewResearch’s report, by the end of 2021, the global B2B e-commerce market was valued at $6.88 trillion, and it is only going to grow in the upcoming years, reaching $7.91 trillion in 2022. So, for business owners and marketing experts, it is vital to know how to promote their companies in the B2B sector. And that is exactly what this GBC Time article is about.
Despite the shockingly big scale of the B2B market, today it often gets overlooked, as there is an evident lack of comprehensive framework on the topic. As Forbes magazine states, 90% of the most popular cases in business schools are about B2C companies, while only 10% focus on B2B cases.
In this article, we will try to cover the most popular channels for the B2B marketing campaigns, give a detailed overview of B2B growth on LinkedIn, and discuss effective strategies for growth hacking in the B2B sector. Additionally, we will list five smart tools that will make the life of any B2B marketer easier.
What is B2B marketing?
As the name suggests, business-to-business (B2B) marketing means promoting or marketing your services or products to another company or organizations, like manufacturers, suppliers, and retailers. It is a major industry, as in 2021, just the US business-to-business ad spending reached $6 billion. B2B marketing stats also show a growth trend, as digital marketing spending was expected to rise by 12.55%, compared to the previous year.
Creating a marketing strategy for the B2B business has its peculiarities and is often way more complex than in the B2C sector. There are some core differences between B2B and B2C marketing, which we have summed up in the table below.
B2B in the iGaming industry
In the online gambling market, the B2B sector takes a significant part. The Dutch iGaming regulator Kansspelautorteit has identified the following areas of business-to-business solutions:
- iGaming platforms;
- Betting engines;
- iGaming/sports betting content;
- Hosting;
- Payment services;
- Customer support services;
- Marketing services.
So, the B2B niche can be found in any sector of the economy, including online gambling. That is why it is vital to understand where and how to promote these services to get the maximum results.
Read more: The Best Gambling Affiliate Programs
The best platforms for B2B growth
Much like B2C campaigns, business-to-business marketing can be done across both traditional and online channels.
As for the traditional methods, Statista reports that the most popular are trade shows and offline conferences. There, you can network with other business owners, showcase your products and services, and overall improve your brand image. In some countries, like the US, it remains the most widely used method, with ad spending in this niche reaching nearly $15 billion in 2021.
In recent years, however, digital marketing channels have demonstrated high efficiency. More and more B2B marketers opt for digital or social media ads as a part of their promotional strategy. The results of the recent Statista survey only confirm this trend, as over 90% of B2B marketing experts have used either digital advertising or social media ads.
So, let us review B2B marketing channels that are most widely used in 2021. We will not name every platform that marketers use and will stick to the most efficient or common ones.
Emails
This is one of the most classic methods of reaching business clients. HubSpot data shows that 93% of B2B markets use email as a part of their strategy, and 83% send newsletters to potential leads. This is one of the most critical methods for reaching new customers. Just keep in mind that B2B clients value login and positive ROIs the most.
Online blogs
AdWeek found out that 81% of customers visit the company’s website before purchasing anything from it. Besides, the B2B sales cycle involves many steps, and the online site is one of the most crucial ones. So, a webpage with high-quality content is a must-have for any B2B company. Make sure that your site is easy to navigate and has all the necessary information about the firm and services.
Online events and webinars
This channel has become especially popular after the start of the global pandemic. Left with no choice but to network online, companies started paying more attention to digital events and online seminars. Moreover, it is cheaper and easier to attend a conference online than to fly overseas for a new event. These types of events also allow reaching a wider targeted audience.
QR codes
Some B2B companies are using QR codes to promote their business, expand customer network and drive sales and revenue. The beauty of this method is that it can be used both online and offline and even in combination. If you are going to the conference or other offline event, you can print flyers with embedded QR codes leading to Facebook Pixel or another link. Dynamic QR codes also can track data, like numbers or purchases, location, etc.
Podcasts
Insanely popular nowadays, a podcast can be also used for promoting your B2B business. Marketers opt for either featuring in a popular podcast or starting their own channel, reaching more audiences for a low cost.
Podcasts are especially popular in the US. Statista found out that in 2021, 120 million people were listening to audio podcasts, which is roughly 62% of all population in the country. And by 2024, this number is estimated to grow to 160 billion people.
Social media
Nowadays, people spend hours on social media platforms. In fact, in 2021 an average person spends about 2.5 hours on social networks in one day. Accounts on social platforms are also vital for the company branding, so no wonder it has become one of the most important channels for B2B marketing.
You can read our guide to know more about social media trends for 2022.
As seen from the chart above, LinkedIn is the top platform when it comes to B2B marketing. The 2021 survey from Statista also shows the high efficiency of LinkedIn for marketing campaigns in the B2B sector:
- 79% of respondents named LinkedIn as the most effective platform;
- 54% listed Facebook;
- 36% selected YouTube.
Strategies for B2B marketing growth hacking in 2022
Growth hacking is a term, which was defined by Sean Ellis in 2010. It means using resource- and cost-efficient marketing tactics to increase and retain the user base, increase sales volume, and gain brand exposure. Now, it means quickly increasing the company’s revenues at an extremely low cost. Typically, all methodologies are scalable and can be applied to any business and KPIs.
Here, we will list some of the best growth hacking strategies that can be applied to marketing in the B2B sector.
Define your ideal client avatar
Marketing in the B2B sector is hyper-targeted, so it is only natural to have a clear definition of your perfect client or ideal customer avatar. Einsteinmarketer defines it as a detailed description of your perfect customer. Clients that fit this profile are the most likely to buy and use your services. Creating this avatar helps to get a better perspective on your client’s buying behavior, improve your brand reach, and drive sales.
To create this avatar, you do not have to outline what your average client is or make any assumptions or categorizations. Instead, you need to focus on one ideal person/company and outline every detail about them. The best client avatars are backed by the actual market research, conducted by the brand. For the B2B sector, it is also crucial to consider the following factors:
- Industry the company operates in;
- Company status;
- The size of the firm by the number of employees;
- IPO status;
- Funding;
- Headquarters location;
- Revenue, etc.
Some experts also recommend creating a negative client avatar, which is a general representation of a company you would not want as a customer. Learn more about it in the video below.
Take advantage of LinkedIn targeting
As digital marketing pro Stefano Pisoni says at the “B2B Growth Hacking” webinar, Linkedin is one of the easiest and best assets for marketing growth in the business-to-business world.
LinkedIn ads are expensive but if you just use them on retargeting it is not a problem. Because you already know that these are super targeted ads so it does not matter how much it cost because you are not burning money on ads.
The first thing you need to do is to optimize your profile so it would look like a landing page. Pay attention to your photo, cover, about section, etc. Experts advise not to be too self-promotional or too personalized but to try to configure your profile in a professional way. Shows your clients what problems you can solve. Then, you can go on the scale, sending connections to your customer avatar.
There is another lifehack from Stefano Pisoni. You can configure your LinkedIn sales navigator to upscale targeting on the platform. Most people do not know this, but in the sales navigator, you can search for the companies by the software they are using. For example, if you are targeting people that are using Magento, ActiveCampaign, etc., if you are selling copywriting for onboarding sequence for emails, you can just select it in the sales navigator. To do so, you have to follow three simple steps:
- Open the sales navigator (you can use it for one month for free);
- Select “Find the companies”;
- Use the section “Technologies used”.
You also can look for the companies that are using the technology of your competitor and sell your super targeted proposal to them.
Automate the processes as much as you can
Automatization is one of the critical parts of a successful growth hacking strategy in the B2B sector. It allows you to scale internal processes, and streamline the efficiency of your team while allowing you to reach goals faster. Marketers automate all kinds of processes, such as:
- LinkedIn ads and connections;
- Social media ads;
- Onboarding sequence on the website;
- Email lists;
- Chatbots.
In fact, 53% of B2B companies use some form of automation in their marketing strategy, and 37% plan to implement it in the future. In this article, we have listed some of the best tools for B2B automation.
Take an omnichannel approach
To make a sale in the modern B2B world, you need to have multiple points of contact with your potential client – from offline conferences to cold emails, Facebook, Instagram, LinkedIn, etc. McKinsey&Co found out that now B2B customers use 10+ channels to interact with suppliers, compared to just 5 in 2016. Besides, 94% of B2B decision makers view omnichannel strategy as effective. This approach can improve your:
- Lead generation;
- Customer acquisition;
- Sales.
Track your results
The importance of tracking everything in the B2B world cannot be underestimated. As ComboApp informs that 57% of B2B marketers who use data-driven solutions are more effective at delivering positive ROIs.
Now, every company has dozens of different platforms – Facebook, Instagram, LinkedIn, TikTok, email newsletters, SMS, etc. – but they do not really know where exactly their clients are coming from. You can send email newsletters, SMS, or target clients on Facebook, but still do know what the ROI from each channel is. So, you do not understand where you need to focus your time, your effort, and your money.
That why is experts recommend using link tracking tools. With these solutions, you can compare every platform, every social network, and every channel you are using. Surprisingly, often the most efficient channels are not the most expensive ones. This is one of the easiest things to do, yet very few people are doing it.
Take a strategic approach
While all the points we listed above are valid and important, they will not work without a comprehensive strategy behind the actions.
In this ever-evolving world, what leads to growth is not a special tool or trick but the right mindset. Digital marketing expert Stefano Pisoni believes that the key to growth hacking is in understanding what your ideal client is and how you scale and automate your marketing process.
According to the expert, to scale up your B2B business, you need to have a full comprehension of:
- what your business is;
- who your client is;
- what your proposal is;
- and how you can scale these things.
So, where to start when doing growth hacking? The first thing is to have data – about what is working and what is not working in your business. Then, you have to get in contact with your clients and send them a super targeted proposal. After that, you need to know how the customers can spend more, how you can bring them to your services or products more, and get a hang of the lifetime value of a client.
Top 7 growth hacking tools for the B2B sector
Statista has found out that by the end of 2021, B2B marketers across the US, Canada, and the UK were using 5-10 tools for their promotional strategies (44% of respondents), and 6% were using over 20 tools at once. So, let us review some of the most popular B2B growth hacking tools for 2022.
ManyChat – chatbot automation
It is a chatbot automation tool, which was one of the first to appear in the market. It is easy to set up and has relatively low prices.
ManyChat helps automate conversations on Facebook Messenger, Instagram Direct Messages, and SMS. Although traditionally viewed as a B2C growth hacking tool, chatbots can be effectively used for B2B strategies as well. The Facebook audience is immense – as of July 2022, the platform had 2.93 billion monthly active users. While most of those are not companies but people, B2B marketers can target people that work in a specific firm.
The other reasons to use chatbots are:
- An extremely high open rate of messages in chatbots. Data from BrandChemistry shows that messages are getting opened in 98% of cases. This is compared to a 22% open rate of emails;
- Chatbots have more points of contact, and this means only one thing – more sales. On average, you need from 7 to 10 points of contact with your ideal client to make a sale.
So, more points of contact, more sales. Use all the channels you can – chatbots, emails, SMS, LinkedIn, Facebook, Instagram, TikTok, etc.
FindThatLead – lead generation
FindThatLead is another useful asset for B2B business growth. This tool lets you generate leads from any source – from LinkedIn, from domains, from prospecting, etc. It is pretty easy to use and set up and will help to find the emails of your leads and connect with new customers.
MeetAlfred & Scrab.in – LinkedIn automation
As stated before, LinkedIn is one of the best platforms for launching B2B marketing campaigns. And this process can be made easier with these two automation tools.
Remember to be gentle with automation on LinkedIn, though, as it is not permitted on the platform. If you go overboard, you risk having your profile blocked. So, it is best to use automation tools with caution and not spend too much. Experts suggest automating about 20-30 connections a day. Just make sure that those a targeted according to your needs. This way, in just 1 month you will have 900 contacts, and in 3 months – 2700.
ViralLoops – referral programs automation
Another thing that you can do, when it comes to B2B marketing, is set up a referral program. It works like a giveaway – users get incentives for recommending the company’s services to their friends or family. For instance, you can offer a free audit of the company, if clients bring their friends, or online consultation for an email address of a potential customer, etc.
ViralLoops is a perfect tool for referral program solutions. This tool is also mostly used for the B2C sector but can work in the B2B world as well.
JotURL – link tracking
One of the most essential tools for B2B growth hacking is link tracking because it lets you understand how your platforms are performing and where you need to spend your time and money. It is very easy to set up, you just need to implement a link tracker on your platforms and that is it.
Albacross – website tracking
Last but not least, is the tool that allows you to know who has visited your website. This helps you to get in contact with companies who are already interested in your services. It should be noted, however, that the service does not have a 100% match rate. It is about 60%.
LemList – cold emailing
This tool can be used for cold emailing, which will further automate your B2B marketing process. You can send emails to all people who visited your website, retargeting the audience.
Conclusion
Marketing in the B2B sphere is a complicated yet profitable process. Unlike the B2C niche, the business-to-business approach requires a high level of targeting, building a long-lasting relationship with your client, and showing the actual value of your product or service. The marketing process, however, can be streamlined with the growth hacking techniques listed in this article. The automation and tracking tools can also lead to higher results.
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