The Big Areas of Focus for B2B Marketers in Post-Pandemic World: Prasenjit Roy
B2B marketers will have to be much more swift, agile and responsive, embrace the new-normal and surge forward writes Roy.
B2B marketers constantly look for new, improved strategies and channels to attract and retain customers. Thanks to technological advancements, innovating the way we operate is easier than ever before. However, while marketers are excited about technology, they’re also looking for real proof that these emerging technologies can deliver on their promises. Marketers also understand that investment in emerging technologies should be driven by what will drive better results, not just what’s going to be the next big thing. From longstanding trends like leveraging marketing automation tools and harnessing video content to the increasingly popular use of artificial intelligence (AI) powered marketing – these are some of the tools and trends which in my view will form a part of every B2B marketer’s arsenal in the times ahead.
There has been much hype and enthusiasm around emerging Artificial Intelligence and Machine Learning technologies, and we are now witnessing its adoption in the B2B industry speed up even further. AI enables the unlocking of data potential allowing marketers to derive better insights and gain better perspectives about their customers. AI platforms today allow marketers enhanced personalization opportunities and sophisticated behavioral insights. Some of the most prevalent ways in which marketers are leveraging AI today is by enhancing website engagement through chatbots, predictive lead scoring, marketing performance management and predictive analytics. Using predictive analytics, marketers are able to make better sense of the enormous amount of data collected, and turn it into actionable information. From improving marketing strategies to creating data-driven content to hyper-personalization of campaigns and optimization of campaign ROI, the transformational impact of AI will be felt across marketing disciplines.
Forrester predicts that Business spending for Marketing Automation tools will grow to $25.1 billion annually by 2023. Marketing automation tools help marketing teams optimize their budget, drive efficiency, expand their reach and basically do more with less. Most marketers today leverage automation tools to better create and manage email campaigns; capture, score and nurture leads; and create more personalized and meaningful customer journeys. However, one area where marketers tend to overlook the role marketing automation can play is retention marketing. Strengthening customer relationships through marketing automation can help not only enhance opportunities for cross-selling and upselling, but it can also help turn your customers into advocates for your business. Marketing automation is an incredibly efficient way to engage with customers and will continue to be adopted across a wider B2B landscape.
Harnessing the Power of Video
Video is one of the most engaging mediums the most compelling ways through which marketers engage with prospects and grow their business' bottom line. From aiding the discovery process to accelerating the path to purchase, marketers will continue to leverage video across the sales funnel as a means to generate leads and drive conversions. From Vlogs and team introductions to engage your audience on social media, to creating product demos to educate your prospects, to creating webinars that help prospects in their decision-making process, video will continue to play a key role in shaping customer opinion and growing and engaging the online audience.
Account Based Marketing (ABM)
With its ability to foster true integration between sales and marketing, deliver focused targeting with higher chances of conversion and revenue generation and its ability to nurture and retain existing customers, account-based marketing is being increasingly adopted. As we begin to feel the economic impact of the pandemic and businesses start tightening budgets, marketers are now focusing on ABM strategies that prioritize ROI and deliver on business results. By investing time in high-value accounts, account-based marketing also allows marketers to utilize their resources more efficiently and optimize their efforts.
As the uncertainty of the pandemic continues even after the second wave, B2B marketers will have to be much more swift, agile and responsive, embrace the new-normal and surge forward. In the post-pandemic era, it is the organizations which embrace digital transformation and leverage the right technologies and practices that will emerge as the winners.
(Prasenjit Roy, Head of Marketing and Product, NTT Ltd. in India )
Around The World