In B2B Marketing, it is common to run targeted campaigns. This is why concepts like account-based marketing have gained popularity. A recent Forrester Research report showed that when ABM was in use for over a year, 60% of the respondents experienced 10% increase in ROI, while 19% experienced a higher revenue impact that was 30% or greater.
More and more marketers are feeling the need to run campaigns according to the stage of their buyer’s journey too as part of their target marketing process. This trend also translates into the need to have more personalized messaging to suit each stage of that journey.
|According to a previous DemandGen Report, 95% of B2B buyers always chose a solution provider that ‘provided them ample content to suit each stage of their journey’.|
But here’s a bitter truth, not every targeting strategy can give you the desired impact.
Here we give you 3 powerful ways to potentially help you increase ROI from your next one.
1. Personalizing Content as per Job Function
In B2B marketing, marketers have to reach out to and sell the same product or service to multiple people within the same organization. This translates into the need to create content not only as per the stage of their journey, but as per their role and core function too.
By personalizing content as per their role and function, you’ll have a higher chance of being able to break the ice and potentially convert them too.
For starters, when you use networks like LinkedIn that are built to provide such targeting options, and when you target audiences as per their job title and function within a company, create messaging to suit their respective roles accordingly. Replicating the same messaging tactic across multiple channels might work more effectively in achieving higher ROI!
|An interesting example:
When Integrative Therapeutics, a manufacturer and distributor of nutritional supplements had to market their product to clinics across the country, they realized that the job titles for people who could benefit from their products varied widely. By aggregating known titles and skills (on LinkedIn), they developed the right audience base and engaged them with personalized messaging using Sponsored InMail, Sponsored Content, and Display Ads.
2. Customized Lead Nurturing Processes for Key Stakeholders
We’ve already established how B2B marketing requires interaction between different people within the same organization to make a sale. Besides planning content to suit each person’s role within the hierarchy, it can help to plan different lead nurturing activities catered to each of the key stakeholders too.
According to a study by the Gartner Group, in a typical firm having 100-500 employees, an average of 7 people are involved in each B2B buying decision. Catering to the different psychologies when selling in B2B marketing, and having a different lead nurturing process that helps maintain this distinction can have a positive impact. Segmenting your audience to achieve better personalization is a given. Going a step ahead to focus on a process that caters to the main decision makers can contribute to your bottomline as well.
3. Use Technographic Data to build your Prospect List, and to Create Buyer Personas
Identifying your buyer persona is crucial in marketing. Buyer personas are meant to be detailed profiles about customers and prospects based on actual demographic and firmographic data.
Adding Technographic data to this data set can prove to be beneficial. Technographic data can provide insights on a company’s current tech stack and future technology needs too. This information can be interpreted and used to create a more wholesome persona, and to also churn out a more driven prospect list.
Technographics in B2B marketing can give insights into what your prospective buyer wants, what their priorities are, what their main challenges are, their technology adoption behaviors and patterns, and much more. This in turn can help identify those markets or audiences that will be most lucrative, and will also help plan a better product positioning strategy as well as content that will resonate most based on interests.
B2B buyers within the same organization are usually in different phases of the sales funnel at any given point. And B2B marketers have to deal with all of them, at the same time. This itself creates a challenge, but is not impossible to overcome given the kind of technology and data available today.
Do you have some more creative ideas on increasing ROI with targeted marketing? Share them with us, we’ll turn it into a blog!