Targeted B2B Marketing
How to modernize your B2B marketing strategy
In boom markets, B2B marketing is already challenging, but it becomes much more challenging in down markets. B2B marketers must find ways to attract qualified pipelines with fewer resources due to increased costs and tougher competition. I believe that utilizing the same strategies that made sense during the “boom time” may no longer be an option. Read on to find out how marketers can stop depending on spray-and-pray methods and start implementing sustainable, reliable strategies for generating new pipelines and new revenue for their businesses in the face of cost-cutting measures (paywall), layoffs, and fierce competition going into 2023.
Moving Away From Spray-And-Pray Marketing
Although spray-and-pray isn’t always effective, many businesses didn’t care because they could still attract clients. Budgets, faulty leads, and untargeted campaigns were less of a concern for marketers because they could always expect to generate more leads than they had in the past. As a result, marketing is more expensive, lead generation is less qualified, pipeline anxiety is increased, and B2B marketing teams are under more stress.
Marketers should take these elements into account whether there is a boom or a bust, but a downturn in the economy may prompt more businesses to switch from scattershot marketing strategies to more deliberate, targeted ones.
What methods can thus take the place of these antiquated techniques and produce the same amount of leads or more for businesses?
In the upcoming year, B2B marketers should concentrate on these two things:
1. Account-based marketing and sales: Coordinate the efforts of the two teams to pursue the same target accounts. With the use of this strategy, the sales and marketing teams are brought together to collaborate on creating and closing agreements.
2. Prioritize pursuing the accounts that are most likely to purchase your solution or product, and identify the contacts that can assist you in breaking into those accounts.
