The Importance of Digital marketing in Sales growth
“We need to go digital !”
Every B2B sales leader has heard some variation of this statement at some point. But what exactly is digital, why digital? And of all the digital marketing resources to try out there, what matters most for driving sales growth for your business?
There’s no doubt that digital marketing is rocket fuel for sales organizations. B2B sales leaders using digital tools effectively, enjoy five times the growth of their peers who are not at the cutting edge of digital adoption and have 30 percent higher acquisition efficiency. Successful B2B sales teams strike the right amount of human-digital balance customers want.
A B2B startup providing finance software service, Mint, for example, committed to a digital strategy publishing hundreds of high-quality content pieces, from informative blog posts to viral, attention-grabbing infographics and analytics to grow their business. As a result of Mint’s digital marketing efforts, the tool gained a massive online following before being sold to Intuit for a whopping $170 million.
Clearly, digital marketing is a game-changer for B2B sales organizations that do it well.
Keep reading to find out how digital marketing drives success and can radically accelerate—and improve your sales.
Digital Marketing enables transparency
Modern-day buyers are not only digitally savvy, but they’re also willing to put in the extra effort needed to research the products and services they seek before purchasing. Transparency is the key that opens the door to the informed buying experience that clients have grown to expect and demand. This is especially true in the B2B marketing world.
Your clients want transparency. They want to know at a glance the difference between what they have today and what they could have tomorrow, and they also want to know what the total actual cost is.
To reap the transparency benefits, B2B brands are adopting digital marketing. Digital tools make product comparison and price transparency easier that can be used both by prospects directly or by sales reps working with clients, blending the digital and human.
As digitization has indirectly led to the distancing of connections between members of the B2B supply chain, i.e. B2B brands can now partner with developers, manufacturers, marketers, vendors, and others, located in remote locations across the globe, maintaining control and visibility of all members of the brand’s network, and conveying said control and visibility in the form of a transparent marketing strategy, which is of critical importance.
By being transparent, you can strive to hold yourself accountable for doing the best job you can to grow your business, making sure the relationship you share with your client is mutually beneficial.
Uplifts your sales ROI
There is no denying the fact that no matter what the business is, each of them shares a common goal – to get a high return for investment (ROI). Needless to say, earning sufficient ROI in a client-driven market is extremely challenging. In the current market scenario, the rise of digital marketing comes as a blessing to increase the overall ROI of the business.
Following are some factors by which online marketing helps you in securing a stable ROI for your B2B business:
1. An edge over competitors
A business cannot be imagined without a competitor these days. Thus, it is very important to have an edge over them to lead the market. However, sometimes it is better to closely follow the strategies of competitors to join the race, and sometimes leaving them behind in terms of gain is the best strategy to lead. Investing in digital marketing is a good start to excel and attain maximum growth in terms of sales.
2. Get better results than traditional marketing
As already mentioned, the digital platform is for every business, but it is particularly helpful for businesses with limited resources. Investing in it is effective and it also generates real-time sales and profits compared to traditional marketing.
3. Create a stable communication with clients
With online marketing, your business can communicate directly with clients. The better the communication, the loyal the client is. Also, it helps in getting honest feedback regarding your business which can further increase your reliability.
4. Localize your marketing campaigns
One of the many benefits of digital marketing is you can localize your content. If you have a roofing consultancy you can create content that targets a specific geographical area. This will help you increase your conversion rates hence boosting ROI. Facebook, for example, offers sponsored ads that target a certain defined customer base.
5. Instant access to tracking metrics
The downside of traditional marketing campaigns is that you cannot know effectively how the campaigns are performing. Digital marketing offers you a wide range of analytical tools to track your conversion rates. This allows you to adjust your marketing campaigns accordingly. Tools like Google Analytics are vital for tracking traffic to your site.
Digital marketing and analytics can drive new levels of performance and growth.
Advances in digital and analytics, however, mean that sales leaders can now drive and scale meaningful changes that pay off today and tomorrow. Companies that get this right typically see 5 to 10 percent revenue growth with the same or improved margins. And they see many of those benefits quickly, often within a few months. In addition, their longer-term health, as measured by better client and employee satisfaction, improves.
The more informed you are about your audience’s interests and demands, the more ROI you receive.
Provide insights that sales reps need
Organizations with tightly aligned sales and marketing teams have 38% higher sales win rates and 36% higher customer retention rates.
Digital media has disrupted how information is created, distributed, and consumed. Your role as a salesperson has changed. It’s become more consultative and less transactional. And there’s an increasing need to be more data- and tech-savvy.
But with change comes opportunity. The opportunity to learn, grow and improve.
From a sales point of view, when you have a firm grasp on digital marketing, you will know how to:
1. Better understand your ideal buyers
A buyer persona is an essential tool for any marketer. It helps you understand your customers, and ensure that your messaging (everything from sales emails and website content to trade show materials) is relevant.
2. Map your sales process and approach to the buyer’s journey
As a sales professional, you need to diversify your strategy and think digitally. For example, 60% of buyers would rather not communicate with sales reps as their primary information source. And 68% of B2B customers prefer to research independently online. Selling in the digital age has introduced new ways of connecting and gathering information.
3. Better understand intentions and interests
Conducting keyword research and having knowledge of SEM and SEO practices are critical to selling in the digital age. While optimizing your website for this type of search is the responsibility of your marketing team, the sales team can learn a lot about buyer intentions and interests from this type of research and knowledge.
4. Ensure relevance and personalization
Digital marketers understand the importance of creating experiences that are relevant and personalized. Selling in the digital age means higher expectations. It means your prospects are making decisions about you and your services long before they ever make contact with you or a fellow sales rep. This makes personalization even more challenging but more necessary to stand out amongst your competitors.
A powerful way to amplify your sales growth
B2B sales leaders need to set out a bold vision based on where the opportunities for growth lie, but then they need to make that person for each organization.
Advanced digital marketing tools and analytics can help set granular targets and personalize those targets to each region, manager, and sales rep.
Leading B2B companies also make sure they demonstrate progress, using analytics to communicate real-time insights and share early wins. More sophisticated digital marketing tools can even show individual contributions toward the common goal, which can be very motivating.
Digital tools and analytics insights, if correctly applied, offer a powerful way to accelerate and amplify a B2B sales organization’s capacity to grow.
With more than 12 million users Mailchimp, an email marketing technology is used by more than 80% of B2B companies. This tool has helped numerous SMBs to grow their business and generate revenues through sales.
However, let’s be clear: the tool should not drive the solution. Each company should have a view of the new behavior it wants to reinforce and design a practical, integrated approach to leverage digital tools and analytics.
Get ahead with Automation Strategies
Automation strategies allow you to automate a series of actions that are related to a particular sales process, which also has a specific goal,i.e, turning a lead into a customer or following up with your current client. This is called workflow.
These strategies, besides saving time (because they require little or zero human intervention), have turned out to be highly effective at increasing online B2B sales.
Simply, because of the accurate and precise follow-ups, you perform with every client.
For instance, imagine the prospect of downloading a piece of content from your website (decision stage). But, even though they may seem pretty interested, they abandon your website without closing a deal.
An automation system would send an email to that prospect automatically, to incentivize that prospect into making a deal by highlighting the benefits your business can provide them. Later, the system can send them another email after a couple of days, that contains testimonials from your existing clients to show how your brand continues to add value. Client testimonials are one of the most powerful forms of word-of-mouth marketing to increase your brand credibility, reputation, and awareness.
This will help your B2B firm in closing sales effectively and raising profits.
You Got This!
The Digital world is chock-full of imaginative resources and opportunities for your B2B business.
Do not shy away from trying out innovative strategies that explore the latest possibilities in the age of digital marketing for maximizing profit.
Utilize contemporary digital platforms like social media, video sharing, and if you need a helping hand to help you evolve effective Digital Marketing strategies, to double your sales growth, reach out to our B2B sales and marketing consultancy firm.
Think of us as an extension of your business. We got your back!