As the times are unprecedented, the B2B market is seeing a change in key trends, and the central pillar which holds this change is digital marketing. A lot has changed since the pandemic has hit the world. Multi-billion dollar companies are filing for bankruptcy in this pandemic.
So it is fair to keep an eye on your marketing budget and make changes accordingly. Today we will be showing how B2B marketers take a sharp turn in their marketing strategy and are now more focused on digital marketing to bring in the business amidst global pandemic.
- Top digital marketing trends followed by B2B brands:
- Business needs to be sensitive
- Social media is the godsend for generating leads
- Audit content marketing strategy
- No is ok for right now
- Increase the digital marketing budget
- Using AI as predictive software
- Customer trust comes first
- Videos are still relevant
Top digital marketing trends followed by B2B brands:
Given below are the trends that companies are following to get business even during the pandemic. As a marketer, you can use this digital marketing strategy to turn a lead into your client.
Business needs to be sensitive
In 2020 as the whole world participates in large-scale quarantine, teenagers, parents, and even grandparents, all spend more time in virtual spaces to stay in touch with friends and family. According to the latest research done by GlobalWebIndex, more than 44% of people have increased their usage of social media. At the same time, 51% have increased more content consumption from streaming sites.
This increase in virtual space in virtual space could be beneficial for any B2B business if they know how to be thoughtful and genuine in these challenging times. According to a study conducted by Harvard Business School, 65% of people have said they would prefer to buy products depending on how brands have responded to the COVID-19 situation.
To build a brand affinity among potential clients, B2B marketers provide relevant content, valuable information, and thought leadership. Many B2B businesses are using promotional video-makers such as videocreek.com, to bring their dealings with the current situation in the form of video ads on social media platforms.
Social media is the godsend for generating leads
Social media is undeniably the most successful lead generation channel for B2B marketers, and Facebook is the platform leading the pack. But as the competition has grown on Facebook, marketers are now adding Instagram, Twitter, and YouTube in the paid digital marketing budget.
In addition to this, LinkedIn is the second most successful lead generation social platform, with 44% of respondents.
Audit content marketing strategy
There have been some significant changes in the past decade in the way a business market itself. The COVID-19 will only further increase the shift. From the past five years, we see only upticks in virtual engagement.
The decision-makers in the business will climb down the growth stair and pivot to survival mode to cut overhead. But for digital marketers, COVID-19 has brought up the “win now” mindset. We know each dollar you are going to spend during the pandemic for the video ads is not going to pay your back. But you can use these operations as a survey to find out what’s top of the mind for your potential customers.
No is ok for right now
It’s ok if the client says “no” as things are right now, the circumstances are beyond human control. The “no” your client gave you is not for forever. Give your customers more time to make their decision and keep a place for them in your CRM.
Increase the digital marketing budget
In February, the world has seen a 500% cancellation of events. All the money the sponsors paid for those events did nothing to bring those businesses any customer. B2B companies tend to allocate 40% of their marketing budget for product placement in activities.
Instead of chopping down, budget companies could use digital marketing in light of new opportunities. With research being done, it is said that investing in digital marketing will bring a more natural return on investment (ROI).
B2B businesses that were not putting effort into digital marketing can finally switch gears and quickly transform slow business months into profitable ones. We have found that nearly 50% of digital marketers are still sticking to their initially planned budget before COVID-19. While some are seeing an increase in the budget as in-person marketing has taken a long halt.
Using AI as predictive software
After the COVID-19, marketing budgets could be seen as a bit of choking from the company decision-makers. As everyone expects to increase the efficiency of marketing processes, digital marketers are bringing AI and automation to unlock the lead generation’s efficiency. Using AI, 50% of B2B digital marketing teams are getting good results.
On the other hand, to pinpoint the keywords potential customers are using, some marketing teams have developed their automation system.
Customer trust comes first
Even if your customer isn’t buying products from you, he could be a great marketing source. Many of the previous years’ trends are now being pushed to the driver seat to accelerate business in 2020.
Any B2B business needs to adopt a customer-centric mindset and flexibility on all digital channels and upper-funnel initiatives.
A business will likely grow in a more natural way when the marketers don’t think about selling their product but helping out their customers. That’s how you build loyalty for the brand and generate good revenue even in a pandemic.
Videos are still relevant
There has been an increase in content consumption during the global lockdown. More people spend time watching a video than reading a social media post or seeing a photo on Instagram.
Even in some countries, Instagram has brought its version of a short video format. This clearly shows that video marketing is still on the rise. Digital marketers are using the same Youtube video editor software to edit videos for different platforms.
66% of the B2B marketers said video drives better leads, and 35% reported it brings out the revenue for the business.
You might have seen Forrest Gump in which Forrest goes out for a shrimping adventure with his friend during a hurricane and comes out with tons of shrimp, which brought him the fortune. In the same way, by capitalizing on the emptier market space, a business could show what the potential customers want.
The digital marketing process can reap the benefits for a B2B business for years to come even after the storm of COVID-19 passes.