Everyday you can be driving a vehicle. You have to think deeply over this. If you have to go to daycare, a grocery store or to work then you need to drive a vehicle. If you are running a business then you need to regularly go there by driving and a good turnover will be expected. It can be bad for you if you do not get a turnover. For optimal functioning of the vehicle it is necessary that the complete system present in the vehicle works in an integrated manner as we know that vehicle has a lot of moving parts. It can cost you so much and you can be in trouble if you are not maintaining it regularly.
In the same way the strategy of B2B marketing functions. If a particular marketing strategy is performing good for a few years then you can use that strategy for the success of the business. If proper care of the car is not taken then you will not think of driving it. If you want that the B2B marketing strategy must be reevaluated then you have to see the following steps.
1.Your goals need to be benchmarked – You should start seeing the data of the current strategy and the goals must be reviewed by you at a high level. Do you think that aiming a 40 % increment in the marketing qualified leads is enough for you if you have reached that? Is it possible that a 20 % increment in the retention rate is your requirement and you have successfully achieved that? How much market share’s percentage you will have in a new area if you are going to put the company’s branches there?
A strategy of marketing to be used by you currently must be evaluated if these goals are required to be benchmarked. It doesn’t matter whether it functions properly or not. You should refresh if you are not in a position that the target can be reviewed by you and your team.
2.Find out the source of your leads – For generating leads and reaching the target market multiple channels must be used in the B2B marketing strategy used by you. Your marketing channel’s failure or success depends on each channel’s role and identifying the source of the leads. Is the source of the leads RFQ, white paper download, PPC ad or organic search on Google?
Are you getting the expected data? Are trends noticed by you? In the last touch vs first touch attribution when you look at the data, do you find any change? The marketing strategy may be using different channels and for that purpose the above questions are very important.
3.If you are falling short somewhere then you should understand it – After understanding your target and the way to get it, the shortfalls must be identified during this period. Do you feel that working on your CRM is according to your requirement? Has proper tracking of the leads been done by you? Is there any requirement of tweaking the budget of your PPC? Are you getting any profit from the B2B website that is owned by you? Are your goals still not fulfilled by the sales team? Are you not in a position to give tough competition to others? For revamping your B2B marketing strategy plans you have to consider all of this.
4.Proper planning must be done by you – The B2B marketing strategy now requires setting new goals. Your organization will understand new goals if steps 1-3 are completed by you. For instance, in your CRM the correct entry of the leads can be done constantly if you focus on the task given to the sales team. By doing this the new target can be set. It is a possibility that just by looking at the steps 1-3 people start thinking that all is going fine. In the meantime you should check if there is any area where improvement can be done? Is it possible that you can make the team perform better by increasing the target of your site leads? For improving search rankings, is it possible that doing SEO of your website will still work? For employees’ marketing, are the forces with HR joined by you? For optimization and improvement, a room is always there.
Every goal in the strategy of B2B digital marketing should be set on the following basis:
- These should be clear and specific – If you want these goals to be known to everyone then these should be presented in written form.
- These should be measurable – For your success measurement monitoring of the data should be done by you.
- These should be achievable – If necessary, the baby steps can be taken by you.
- These should be relevant – On the basis of the result you should set the goals.
If you want to get the services like social media optimization, pay per click, search engine optimization etc., then it is a good idea to consult a digital marketing company.