Are your B2B marketing strategies not yielding expected returns? If yes, then chances are you will need to personalize your marketing strategies.
B2B Marketing Personalization
According to the latest survey from Folloze, 42% of B2B marketers said that their marketing efforts are not fully personalized.
It is not like that B2B marketers are not aware of the importance of personalization in marketing. In fact, most marketing professionals believe that personalizing marketing strategies improves customer relationships.
Being a B2B small business owner yourself, you can leverage the power of personalization to get an edge over your competitors as more than half of B2B marketers have yet to fully personalize their marketing efforts, as the survey finds.
If you get better at personalizing your marketing strategies, you will certainly be able to boost your sales.
State of Personalized B2B Marketing
It is imperative that each customer looks for specific information before making the purchase. And B2B customers usually want more information before making the final decision.
My friend, a one-size-fits-all type of marketing approach cannot give good results while targeting B2B customers. This is because each B2B customer often wants specific information.
77% of B2B sales and marketing professionals believed that personalization builds better customer relationships, as the survey sated. Additionally, more than half of the professionals (55%) said that personalization can bring higher conversion rates and growth.
Though businesses understand that personalization is key to B2B success, around half of the sales and marketing professionals (42%) struggle to fully personalize their marketing strategies.
Randy Brasche, VP of Marketing at Folloze, said in his prepared statement, “Today, Account Based Marketing practices are mainstream across most B2B enterprises. At the same time, research suggests that sales and marketing professionals understand the value of personalized marketing,”
“As companies double down on Account-Based Marketing, many are still struggling to achieve the level of personalization at scale that customers expect,” he added.
60% of marketers said they are not employing AI or machine learning to personalize their marketing efforts, as per the survey.
And 21% of marketers said that they are not using data on customers to personalize their content marketing efforts. What’s more, 39% of B2C marketers voiced that their current personalized strategy is only somewhat sophisticated.
So we can assume that technological competencies have an important role in personalizing marketing strategies.
How You Can Personalize Your Marketing
Personalizing your marketing efforts can ensure success in today’s cut-throat competition in the B2B market.
As a small business owner, you should also adopt personalized marketing strategies to grow your sales.
Following are some tips that can help:
- Personalize your content
- Implement Account-Based Marketing
- Take the help of AI and machine learning to better plan your marketing
- Run digital ads as you can target them to a specific audience
- Consider data on your existing customers while personalizing your marketing
- Personalize your offers
B2B marketing is more data-driven than B2C marketing. Therefore, you should try to collect as much customer data as you can to better personalize your marketing strategies.
“These survey results paint an accurate picture of B2B marketers understanding the connection between growth and their personalized marketing competencies,” said Mr. Brasche.
“Data-driven personalization combined with Account Based Marketing represents the new table stakes for every B2B marketing team. Ultimately, this survey is a good wake-up call for every marketing team to rethink their approach to personalization across every stage of the customer journey,” he concluded.
About the Survey
The objective of the survey was to understand the state of personalized marketing. Folloze hired an independent agency – Propeller Insights – to do the online survey.
The company conducted this survey between February 26 and March 1, 2020. All participants self-identified them as sales or marketing professionals working in B2B companies. You can click here if you want to know more about the survey.
Image: Depositphotos.com More in: Statistics