Marketing plays a vital role in achieving business success. However, the strategies to use will depend on what the company wants to achieve. For instance, marketing methods for business-to-business (B2B) marketing are different from those targeting consumers.
Introduction to Successful Marketing Process
As the name suggests, B2B marketing is geared towards organizations and businesses. A company selling products or offering services to organizations or other businesses typically uses this. It may come in different forms, such as software as a service (SaaS) subscription, security solutions, accessories, and tools.
While marketing is an excellent tool for growth, it may be challenging to master effective marketing. There are budget limits, creative demands, and channel decisions necessary. Marketers need to balance all of these when developing a strategy.
So, how can you ensure a successful marketing process?
Before you start your journey to a successful strategy, you need to understand what the process includes.
At the end of the day, it all boils down to the audience. You have to understand the target clients first. What are they looking for, what are their needs, and how will your product or service help solve their problem? After discovering the answers to these questions, you have to do your best to remove tension and fear on the side of your prospects. Establish your credibility and gain their trust.
Generally, buyers go through a process when purchasing a product or service. It can be summarized in the so-called AIDA model, which stands for Attention, Interest, Desire, and Action. The said model not only represents the stages clients go through but also serves as a guide for marketers to form a strategy that suits each phase.
After having a better understanding of these aspects, your next step is to work on an effective marketing plan. Start by defining the overall goals of the business. Then, you have to go through four steps to ensure success.
- Discovery – The first step in a successful marketing process is discovery. Conduct research about your market, potential clients, and competitors. What is the current trend in the marketplace? What type of business or organization is more likely to use your product or service? Where are your current clients located?
- Strategy – Based on the data you gather from the discovery step, you can decide how to create your marketing plan. How will you reach out to potential clients? How will you conduct your marketing campaigns?
- Implementation – This is where the company puts marketing campaigns into action. If your in-house team is in charge, make sure you have the resources you will need to complete this step. On the other hand, if you decide to bring in a third-party service provider, you have to make sure that your company and their team are on the same page.
- Measurement – The last step of a successful marketing process is measurement. You have to check the results of your campaign. Did you achieve your goals? Are there any areas that require improvement? Measuring your campaign results allows you to make well-informed decisions on how to allocate business resources and decide what approach works best.
What are the Barriers to Marketing Success?
The road to a successful marketing process is not always easy as there are various challenges. Even experienced teams struggle with establishing effective strategies. Overcoming these is crucial to prevent failure.
Having an idea as to what type of barriers marketers encounter can help you prepare for them. To help you out, here are five common barriers to marketing success:
1. Not Having a Clear Company Business Objectives
As stated earlier, a successful marketing process starts with defining overall business goals. Remember the acronym SMART when figuring out objectives. It stands for specific, measurable, attainable, realistic, and timely.
Without goals, the plan will not have a definite direction. The team will not know what they are working towards. Every member of the marketing team should understand what they have to accomplish. This way, they will appreciate the importance of each task, no matter how small they may seem.
2. Lack of Coordination of Sales and Marketing Teams
A lot of unsuccessful marketing campaigns are due to a lack of coordination. It often happens between the sales and marketing teams. Since they have different tasks, they tend to focus on their own spheres and pay little attention to the other.
What B2B companies need to understand is that these two departments are the main teams in charge of driving revenue. If they do not work together well, it will be difficult for the company to give a cohesive client experience. The marketing team needs to generate good leads. Meanwhile, the sales team needs to live up to the expectations that the marketing team has set to turn potential customers into paying clients.
Ineffective communication between these two teams can also lead to the overlapping of responsibilities. That could waste both time and money.
3. Lack of Buyers’ Persona Research
The importance of your target audience cannot be reiterated enough. That is why market research is always necessary. Then, using the information collected, create content. This way, you can be sure that what you put out is something that will catch the interest of your potential customers and that you are using the correct channels.
Failure to create buyers’ persona based on proper research puts a company at risk of focusing on the wrong audience. In turn, all marketing efforts will not have positive results.
4. Ignoring What Competitors are Doing
Not knowing what similar businesses are doing is a critical error that many B2B companies make. No matter how successful your company is, you must keep track of your competitors.
Competitor research does not mean you have to constantly monitor the campaigns of other companies so that you will have something to replicate. While you can use their best practices as a guide on what to do, it should not be your only focus. You can use their campaigns to know what keywords work in reaching your market and which channels generate leads. At the same time, you should also figure out what tactics they are not using. In doing so, you will have the opportunity to find gaps in their marketing strategies that you can use to differentiate your brand.
5. Not Using Effective B2B Inbound Marketing Strategy to Target Users as Per Their Buying Stages
Inbound marketing plays a massive role in achieving success in B2B marketing. It helps bring potential customers to your business with the help of high-quality content. However, you have to make sure you adopt a strategy that will appeal to your target users. That means having appropriate content at the right time and place.
You have to constantly think about how you can attract and engage a potential customer, so they turn into a client. To do that, you have to go through three stages – Attracting, Engaging, and Delighting.
While each business has a unique sales funnel, it is crucial to understand your audience and develop the funnel based on audience intent and the industry you are in.
A great company knows the importance of storing their brand in the minds of the market that they serve. Instead of a compelling tagline, it is more important to ensure customer satisfaction. To do this, you will need to have successful marketing processes.
However, effective marketing strategies can be hard to achieve. That is why many marketers make mistakes. Knowing the common barriers that marketers go through can help you prepare strategies that will work in your company’s favor.