To how much extent the global economy will be affected by COVID-19 is still unknown to us. It will be likely to have some long-term effects on various industries, those relying on B2B. This shows that Businesses need to change their B2B Marketing strategies during the time of COVID-19. With the competitive landscape increasing, businesses must stay active. So, it's time for businesses to diversify their marketing strategies. Here are some of the tips and tricks on how to make the most out of this situation.
Revaluate Marketing Budget
As recommended by the US Small Administration, businesses must spend about 5% to 10% of their revenue on marketing. However, the figure can change depending on the size and nature of the business. During the coronavirus pandemic, Businesses should stick to this marketing investment rule. Even if the business gets slows down, do not reduce the investment in marketing. Instead, try redistributing your marketing budget more smartly and effectively. For instance, you can cut down your budget on paid advertising as your customers cannot visit you physically. On the other side, Businesses can allocate this budget for inbound marketing and SEO. So your customers will continue to bring revenue to your company even in the long run.
Also, businesses can take advantage of effective email marketing by using a permission-based business email list that can generate organic traffic from your targeted list of audiences. This will enhance engagement and build a loyal audience base. As your business gain traffic over various channels, your website will rank higher and will quickly overtake your competitors. This will ensure the business bounce back faster and emerges on the top when things get back to normal.
Improve Online Presence
With the make situation going around, more businesses and customers are looking for a service online now than ever. This has increased personal interactions among customers, but it doesn't mean that they are not interested in businesses globally. Research states that in some cases, customers are taking this opportunity to make search engines for searching for potential items they can buy.
Businesses devoted their marketing budget to exhibitions, trade shows, and events. But with the pandemic, everything got canceled as very few customers are interested in a face to face meetings, which is precisely the case of B2B companies. In this situation you can take the advantage of generating leads through your business email list, you need to redefine your website to reflect current demand better, like remove any prohibited items temporarily.
Digital marketing during this time can be proof of constructive for businesses. Besides providing the advantage of no face to face interaction, it also offers a high rate of measurability. With digital marketing, marketers can picture the spending return on investment and of the activities that generated a high number of quality leads from the company's targeted list of customers.
Make Sure Your Business Can Be Found Online
It is found that search traffic has significantly increased over the last week and is expected to climb continuously. Peoples are stuck with their phones looking for entertainment and methods to pass their time. While businesses can reach out to their targeted list of customers with a business email list and can increase their sales. The products and services online right now are expected to consume more than ever before. Does it is not the time for your company to stay hidden online? Make effective use of search engine optimization strategies that would help the business climb to the top of Google search engine result pages. With this, a business can be easily found in search engines and increase the lead conversion. With the strategic use of SEO, leads can be generated through your business email list.
Adapt Your Offers to the situation
You might be noticing ads on television that are irrelevant and useless to the current situation. Televisions are still running ads for travel agencies suggesting people travel around the globe. Also, numerous ads are shown on television, encouraging consumers to go on a spending spree, save on toilet paper, or enjoy a spring break. These irrelevant and useless ads at the time of COVID- 19 pandemics are an indication of the television advertising industry's long lead time.
However, for effective marketing businesses need to move quickly and adapt to the circumstances. There is no point in continuing the normal marketing activities like before. This is because, due to the pandemic situation, the consumers are unable or unwilling to buy a product or service. Make effective and well-planned marketing help your business in reaching out to the targeted and profitable audience.
Communicate directly and openly with customers
B2B lead generation is all about having a good business relationship with the customers, it is vital to have both trust and authenticity. Due to crisis, your business must build confidence with customers by communicating openly.
This can be done quickly through your customer's database. An email or SMS can be sent out to your business audience and details can be posted on social media about your company. Make sure that the tone you use must be heartfelt, edgy, supportive, and must clearly state the character of your brand.
Make your communication tools and assets available to your customers and highlight your 24/7 availability to them. Arrange meetings with them and give them access to all your online tools and programs necessary for them to buy your product and services. While reaching out to your audience through your business contact database, make sure to provide them with every detail essential that increases the chance of lead conversion.
The Covid-19 pandemic can be converted into an opportunity for your B2B business. This is because we are in the digital age, and with email marketing gaining effectiveness during the epidemic, you can reach out to your targeted audiences and generate profitable leads for your company. Reformulate your social media, email marketing, content marketing, and SEO strategies during this time. Use your business contact database to reach out and increase your business sales.