In today’s market, differentiating yourself is tougher than ever before. Companies must find smart, unique, and powerful ways to connect with their audiences. Old school strategies like cold calling are now one of the least effective ways to demonstrate value to your target buyers.
Understanding and implementing relevant growth marketing tactics can help convert a lead into a customer, which is ultimately every organization’s end goal.
Here are three B2B marketing tactics that can help accelerate your growth today.
Sell Your Story Before The Product
I’m sure you’ve heard the saying, “every business needs a story.”
Well, it’s true.
A study from the Digital Marketing Institute found that companies who tell a compelling story increase the value of their products and services by more than 20 times!
In a competitive market, providing quality content and services isn’t always enough. You need to be able to talk about your service or product in a way that makes you stand out from the crowd. This is where a good story can be most useful.
With so many companies competing for market share, each must find a way to tell a unique story that bolsters their brand. In essence, this addresses the “why” behind a company’s actions.
Let’s take a look at the Golden Circle model to illustrate the importance of the “why”.
The Golden Circle is an innovative model created by British-American author, Simon Sinek. Most organizations start with “what” they’re going to do and then try to figure out “how” they’re going to do it. Sinek believes this is an ineffective way to craft a business.
If you truly want to connect to your audience, you must understand “why” your product or service would resonate with your target customer. Find ways to craft a story that speaks to the “why,” as opposed to the “what” or “how.”
While having case studies and testimonials is useful, they tend to primarily address the “how” and “what.” You first need to focus on making your brand personable and memorable, which can be accomplished through the power of storytelling.
Competitive intelligence is the act of gathering and analyzing data about products, services, and competitors to help support strategic planning within an organization. When done right, competitive intelligence allows you to track competitors’ digital footprints for opportunities and inspiration.
When crafting a B2B marketing strategy, it’s vital that you keep up to date with what competitors are doing. This includes what they’re posting on social media, ad usage, website trends, campaigns, and even their customer reviews. If you are considering running a campaign for the first time, use competitive intelligence to analyze the success or failures of similar campaigns to optimize your own strategy.
This type of relationship is not dissimilar to a family dynamic. In a family with multiple children, the youngest has the opportunity to examine the choices their older siblings make. In theory, this should provide them enough “competitive intelligence” to repeat the successes and avoid the pitfalls that they observed. Just like in the business world, this type of access gives the younger sibling an advantage that the older sibling wasn’t afforded.
As we all know, access to that information does not always mean a guaranteed path to success. You must find ways to incorporate that information into your strategy and be prepared to pivot as you continue to gather intelligence.
Your content needs to be easily digestible and accessible, and webinars help accomplish that.
Webinars are a great way to showcase and demonstrate your firm’s value. Most buyers conduct the majority of research on their own (81% of buyers; AdWeek). By providing a way for your customers to learn more about your business in a non-threatening way, you allow your buyers to conduct their research while positioning yourself as a thought leader.
The most successful webinars are the ones that target a single market or address a specific need. This opens the door for more leads and higher conversion rates.
Now that you have learned a few of the best growth marketing tactics, go ahead and give them a try!
For more tips and strategies like these, check out our new Smark Toolbox 2.0 below or get in touch today!