Many marketing information sources would have you believe that successful marketing in tough times requires innovation and thinking outside the box.
Frankly, the tools you need for B2B marketing success right now have been inside that box for a long time. You just need to rummage through it and drag them out. What needs to be hauled out right now?
Here are five proven but often forgotten truths from “inside” the box you should put into play right now:
- Focus your marketing dollars on existing customers: Business can be generated from existing customers at one-fifth the cost of acquiring a new ones. These days, focusing a larger portion of marketing dollars on upselling and cross-selling customers is far more productive for generating revenue and ROI.
- Pay attention to the leads you generate: 45% of new leads generated will buy from someone in your industry category within 12 months. Nurturing leads through the buying cycle by continuing to offer them educational materials and other free offers will measurably boosts sales.
- Market to everyone involved in the decision: There are, on average, 9.8 people involved in making a business technology purchase decision. Although the number of people may change, there are decision-makers and influencers in every B2B decision. Marketing to all of them will boost response and increase the number of leads generated. For more on this subject, download the white paper “Reaching Purchase Influencers.”
- Follow up on every lead quickly: 88% of people are happy to hear from a vendor after download within 24 hours. Waiting 96 hours drops that number by half.
- Shift dollars from brand advertising to direct marketing: Be true to your brand image in the process, but, to maximize marketing effectiveness, make sure all your marketing contains these four essentials:
1. Accurately targeted list or channel
2. Offer chosen to match your target’s position in the buying cycle (more about this in future posts)
3. Strong reason to accept the offer
4. Clear call to action
In this challenging economy, you’re allowed to crawl back inside the box. Just make sure you use what you find there.