4 Ways to Feed Your B2B Sales Funnel in 2018
by Emily Swet
Few things are worse for B2B business growth than a stalled out sales funnel. Even though your company may be using the same funnel-feeding tactics as before, what once worked may not be as successful now. To keep it going strong, we’ve compiled four ways to feed your B2B sales funnel in 2018.
1. Align Sales and Marketing Teams
Sometimes sales and marketing teams clash, despite having the same end goal. And this misalignment can lead to staggering losses. To get everyone on the same page, start facilitating communication between the two groups. Ask marketing to sit in on sales calls. Encourage sales to share their customer details with marketing. And encourage uniformity with constant updates between both departments. (Get more tips on sales and marketing collaboration here).
2. Consider Predictive Lead Scoring
Predictive lead scoring is a scoring methodology that leverages historical data and predictive analytics. It takes the data from successful leads (ones that you have won) and adds digital footprints from third-party sources to pool as much data as possible. By crunching the numbers, predictive lead scoring can identify patterns or relationships you’ve never seen before. It also aids in aligning your sales and marketing teams (see above) by providing data-backed reasoning behind lead qualifications. And last but not least, it reduces the margin of error in traditional lead scoring.
3. Don’t Forget the Mid-Funnel
Most marketing and sales teams focus on the top (lead quantity) and the bottom (the percentage of leads closed) of the sales funnel. However, when the middle is unattended to, the information and goals get murky. You could be losing leads without knowing why. To clear this up, ask: how many touches does the average lead need before they move to the next stage? Where do your leads seem to leak out? What is the difference between the ones that leave and the ones that move on? Diagnosing and addressing the issues mid-funnel will have a big impact on your results.
4. Use Video
We’ve made it clear in past blogs how important video has become. You can use it throughout your funnel to keep moving prospects to the bottom. To attract leads at the top, consider how-to’s, thought leadership videos, and any content that showcases your brand’s personality or authenticity. As your leads move to decision mode, product demos, client testimonials, and video case studies can be very compelling. Close the deal with nurture videos, FAQ’s, and instructional videos – and be sure each has a strong CTA (like signing up for a demo or webinar).
No matter what, it’s essential to keep the customer at the center of each stage. Every small fix you can make will help produce better results, and help grow your leads as well as your revenue.
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B2B Myth of the Week: Video Content Is Too Expensive
by MGB2B
“We can’t afford to do video.”
“A video guy is going to be too expensive.”
“Who’s going to write it? Who’s going to edit it?”
Lots of questions start to swirl around when you talk about B2B video content. But video is actually not as complicated as it used to be. And if you partner with the right vendors or agency, you can get a high-quality piece of content that suits your budget.
So What’s the Best Way to Get Started on Video Content for B2B Brands?
If you have no idea where to begin or don’t have the resources to commit to exploring your options, a B2B marketing agency can help evaluate and negotiate with illustrators, video producers, editors, and online video resources that do it all. Whether or not you use an agency, here’s what you’ll need to do first.
- Know Your Purpose. What is the goal of your video? Lots of B2B brands know that they “must have a video” and create one just to put an X in a box. But you need to take a step back and think about why you need a video. Perhaps you need an educational video series to build credibility in your industry. Or a simple explainer video to educate about the use or installation of a specific product. Maybe you want a polished brand video to put on your homepage. Knowing your purpose and the story you want to tell will help you with the very important next step…
- Set a Definitive Budget. The simple way to avoid being overwhelmed by the cost of video is to include it in your marketing budget from the beginning. It seems like common sense. But a lot of companies skip this part. Can you only spend $2,000? Or can you spare $10,000? Different price points get you very different types of videos and levels of quality. Knowing your budget will allow you or your agency to select the right video partners.
- Evaluate Quality vs. Cost. When determining who to partner with, obviously cost is a consideration. If your budget is only a few thousand dollars, you’ll likely need to go with an online vendor instead of having a professional shoot. But quality can be questionable. Make sure you look at value instead of going with the cheapest option. Ask yourself: “What level of quality, speed, and service am I getting for the price?” It takes a lot of research to find the right fit. So if you choose not to hire a marketing agency, make sure you have someone in-house who can devote a significant amount of time to weighing quality vs. cost.
- Don’t Skip the Script. Know exactly what you want to say and show in your video. Don’t “wing it.” A script and/or storyboard will help guide you along right from the drawing board. While it’s not something that directly affects your budget, it will keep everyone involved on track to produce more quickly and efficiently. This will help you spend less time (and money) in the editing room.
Creating video content for B2B brands is almost a necessity in 2018. And there are certainly many affordable options out there. The most important thing is to do it right, building trust in your brand and ultimately boosting ROI. Follow the steps above, and you’ll be a few steps ahead of your competitors.
Continue ReadingLooking Ahead to 2018: The Year of Data-Driven Marketing for B2B
by MGB2B
Data-driven marketing refers to marketing insights, strategy, and decisions that arise from the analysis of data about or from consumers. It is one of the most transformational changes in the history of advertising. Data-driven marketing takes the answers to the questions like Who, What, When, Where, and Why and makes the answers actionable.
The Benefits of B2B Data
- Enables marketers to focus advertising efforts on businesses that are more likely to be receptive
- Identifies new leads and promotional opportunities using hyper-targeting
- Ensures that existing sales and business relationships are stable and successful through nurturing and growth
Ultimately, investing in data collection and analysis can produce valuable insights that improve your campaign performance, which often translates into increasing your bottom line, while providing more meaningful advertisements to customers.
How to Collect Meaningful Data – Pre-Campaign
Now that the many benefits of data are clear, how do you go about collecting meaningful data for your company? The first step is identifying what you know and what you don’t know. If you’re interested in understanding your customers better and building buyer personas, a Consumer Research Study could be the route to take. Or if new product development is one of your 2018 goals, perhaps a Product Development Survey would be best. Understanding knowledge gaps in your organization is the first step in defining your research parameters and getting at the information you desire.
How to Use Data to Inform Your Online Campaigns
Surveys are a great way to collect data. But they aren’t the only way. Some of the most important data is collected as your digital campaigns are running. For instance, Paid Search campaigns are only made better by tracking the performance of several ads. Over time, the data tells you which messages are resonating with which audience segments, which times of the day ads are performing, etc. You can use information from email campaigns similarly, testing to see which subject lines and messages perform best and using the data to make your campaign more effective. These are just two examples. Online testing and fine-tuning should be a big part of your marketing strategy in 2018 if you are not already doing it.
Investing in Audience Growth
When you conduct research and testing with the goal of gaining insight into your target audience, not only will you have a set of data points describing them, but you will have a deeper understanding of their thoughts, feelings, and motivations. You will have answers to the questions Who, What, When, Where, and Why. With this information, you can create targeted campaigns keyed into specific points that appeal to your audience.
For example, let’s say you learn through research that factory owners are not just concerned with OSHA compliance, but also feel an emotional connection to protecting the lives of their employees through safe work environments. You can take that piece of emotional information and apply it to your messaging, helping factory owners connect with what you’re saying on a deeper level. If you learn architects visit certain industry websites more often than others, tailor your media plan to highlight that website. If contractors tend to open emails more at night than throughout the day, customize your email campaign to launch at 9 pm instead of 10 am. Small tidbits such as these can reveal themselves through detailed research, and become game-changers in the development of your entire marketing strategy.
When considering marketing initiatives to pursue in 2018, marketing research and testing should be top priorities. Gaining a deeper understanding of audience behavior is crucial, especially as outreach becomes more digitally focused each year. And in 2018, we will continue to see this trend develop and blossom. Time to dive in head-first!
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