How COVID-19 changed B2B Marketing – 7 Key Trends and Effects
If you are feeling overwhelmed due to the current market conditions, you are not alone. Things are changing fast and it can be difficult to cope with the changes. Since you can always have a leg up on the competition with the right resources, here are the most important marketing trends and effects from COVID-19 that you need to keep an eye out for.
1. Information and personalization are trending
The world can’t agree on anything, but one thing; social media has left people looking for constant societal approval. And the new reports from Think With Google align with this belief.
One of the new marketing trends suggests that people are turning to online platforms to seek validation of their buying decisions. They want to know if what they are doing is the right way of doing things and more.
Every 1 in 2 customers is looking for personalized information such as “how to work from home” and “DIY masks” to solve personal problems. This has and will continue to create an impact on keywords and search patterns.
For example, the search term “learn online” has witnessed an 85% hike among others like “5-minute recipes” (56%), “machine learning (x3)” and “gym at home (93%).”
2. Positive Marketing Activities are expected to do well
We can all agree that coronavirus is one of the worst crises facing our planet. As people continue to panic, companies ought to become more adept at creating their brand communication.
Brands need to be compassionate and sensitive towards their customers instead of desperately trying to make a sale.
As a company, you should aim at being a source of information and good news for your audience. So, when everything restores back to normal, you will be the first one to pop in your consumers’ minds. Because you were always there!
3. Brand awareness is the primary objective
Wpromote’s survey reveals marketers are focusing on putting their brands on the map. Instead of exhausting their resources to acquire new customers, they are increasing their brand awareness.
Given the economy’s condition, it makes sense not to engage in aggressive selling right now. Spread the word about your existence and that should be enough.
However, that doesn’t mean you should stop scouting leads. Economists believe that your customers will start buying regularly from 2021. You might actually begin to see the change from the third quarter of this year.
For now, follow the 60/40 rule for your marketing activities. Prioritize brand awareness over making sales but keep at it.
4. Social media can help you acquire more leads for less money
It’s important to avoid being ‘out of sight, out of mind’ category right now.
A report suggests that the time people spend on social networks has increased. And if you have ever run ads on social media, you’d know that it is cheaper than the traditional media.
For example, Instagram ads cost as low as $1 for up to 2000 impressions. Whereas, traditional media easily cost a million. Yes, the reach is higher, but the current economy isn’t kind to the traditional way of marketing and advertising. So, it’s best to avoid it.
More than 80% of B2B marketers also said that they are gaining most of their leads from social media. Facebook and LinkedIn are the most successful platforms with 56% and 44% response rates.
Here’s a quick tip – Try to reduce the frequency of your paid ads to cut down on cost. However, ensure to meticulously plan your marketing process to avoid getting poor leads.
5. Digitization is winning among the chaos
Good content and healthy SEO practices have always been your web presence’s best friends. And they will continue to be so. However, the current sales trends are favoring social distancing, too.
Countless events and big trade shows were canceled due to COVID-19. While some businesses accepted their fate, the smarter ones are embracing digital webinars. According to Forbes’ John Ellett, your keynote speakers ought to master digital storytelling.
Digital events should be approached as a form of entertainment. If this is your first, ensure to keep it interactive and relevant.
Because the virtuality makes it easier for the audience to leave, it’s the speaker’s responsibility to hold their attention.
6. Joining the conversation is the best marketing trend right now
If you are tired of seeing brands creating topical communication, coronavirus might negatively affect your business the most. This report from Google is proof that consumers are not only enjoying but also asking for more topical marketing activities.
So, give the people what they want!
Share information on the pandemic and educate your customers. If nothing else, people will follow you for regular updates. There’s nothing better than positioning yourself as a reliable brand in your consumers’ minds. This is the perfect time to build credibility.
Also, don’t forget to praise our everyday heroes because that’s the best way to connect with people.
7. B2B influencers are the need of the hour
Influencer marketing works on a simple principle of ‘people buy from people.’ That’s another reason why brands need to humanize their communication.
Although influencer marketing may be losing its charm lately, the B2B segment is yet to benefit from this marketing trend. Influencers like Andy Crestodina, Michael Brenner, and Ted Rubin are big influencers. People will buy anything they recommend without a second thought.
You can start by looking at your niche up on tools like BuzzSumo and Ahrefs. They are the quickest way to identify who’s creating buzz and get you in touch with the top influencers in your industry.
Every business is standing at a crossroads today. Since navigating may not be easy for every brand, you can always get hold of a B2B sales and marketing firm. We can help you plan your activities as per the marketing trends, so you can sustain yourself even during the time of corona.
Speak to our sales and marketing experts to unravel your business’s potential today.