After we break through to the other side of COVID-19, how will the B2B buyer behave? We can’t predict much, but we can agree that the impact of the pandemic is far from over.
McKinsey reports how in the post-COVID world, 70% of B2B decision-makers say they are open to making new, fully remote purchases in excess of $50,000. And 27% would spend more than $500,000. For comparison, in the world before the pandemic, online shopping was primarily reserved for smaller purchases.
The change in the market
As B2B buyers turn to the online world as a predominant way of commerce, companies are acquiring more data sources that hold valuable customer information.
On the other hand, due to the uncertainty of the market, the B2B environment is experiencing challenges such as:
- Investment anxiety
- Intensified negotiation practice
- Decreasing sales numbers
- Longer sales cycles
Due to the shaky grounds caused by the pandemic, companies must try to maintain agility so they can quickly pivot to meet future buyers’ behaviour.
Fortunately, B2B Omnichannel Behavioural Campaigns address these challenges head-on.
B2B Omnichannel Behavioural Campaigns
B2B Behavioural Campaigns leverage acquired marketing data to target buyers based on their account profile, characteristics, preferred channels and their place in the decision-making process to deliver hyper-personalised content explicitly designed to convert prospects to customers.
Behavioural Campaigns merge the most impactful marketing techniques, such as Account-based Marketing, Omnichannel Marketing, Integrated Marketing, and Event-driven Marketing, into a future-ready approach.
Want to know more about how B2B Omnichannel Behavioural Campaigns can help?
Key Ingredients of B2B Omnichannel Behavioural Campaigns
Account-based Marketing (ABM) involves identifying specific accounts to target, engaging with the accounts through personalised campaigns, and building a lasting relationship that drives more opportunities. ABM acknowledges all of the stakeholders in the decision-making process and addresses the entire spectrum of their viewpoints.
The accelerating omnichannel practice within the B2C arena has caused customers to expect a seamless cross-channel experience everywhere, which is why B2B buyers are now conditioned to expect the same in their purchasing journey. For B2B organizations, it’s now crucial to rethink their approach to omnichannel engagement and adopt a more creative attitude in their future digital endeavours. The omnichannel approach ensures targeted accounts are met precisely at the channel they like to use, with the exact message they need at the moment. With Behavioural Campaigns, organisations can progressively add or remove channels as required, or even stop engaging if the channel turns irrelevant to the prospect.
Hyper-personalised and Contextualised Campaigns
Hyper-personalised and contextualised campaigns include creating custom and targeted experiences down to the individual level. Hyper-personalisation, in general, allows businesses to leverage marketing data to personalise content to maximise revenue, reduce customer acquisition and retention costs, and elevate customer experience to a new level.
Predictive modeling refers to running historical data through machine learning models (algorithms) to pinpoint actions and strategies that are most likely to succeed. Predictive modeling takes the guesswork out of the process. It connects various elements of marketing campaigns such as demographics, time, and location to deliver actionable insight such as the prospect’s best journey, most optimal ad, or the perfect time to run it.
Benefits of B2B Omnichannel Behavioural Campaigns
B2B Omnichannel Behavioural Campaigns build upon your current marketing technology stack to maximise ROI and help you fine-tune your marketing activities to match the exact customer need.
With B2B Omnichannel Behavioural Campaigns, organisations can:
- Convert specific high-value leads
- Align target decision-makers
- Amplify omnipresent brand message
- Unify brand experience
- Reduce sales cycle length
- Drastically improve lead quality
- Increase closing rate
- Maximise ROI
B2B Omnichannel Behavioural Campaign in Action
Our client, a B2B cloud solution provider, wanted to optimise its marketing tactics — to move away from event-focused demand generation towards a digital-first approach.
The in-person events caused the sales cycle to be cost- and time-consuming, which led to scalability issues.
As this B2B organisation wanted to cut back on events while driving the pipeline forward, our team devised a new marketing campaign to reach the targeted buyer’s committee across different departments with role-specific and contextualised messages.
We used a marketing automation platform to deploy a highly targeted, account-based marketing approach. Our team identified the target accounts and segmented them according to the level of brand’s awareness, lead type and account stakeholders.
We integrated different marketing automation and customer data platform solutions to leverage buyer’s stage-specific ad campaigns using pre-targeting and targeting via LinkedIn, Google, Quora and affiliated networks.
Next, we deployed omnichannel nurturing campaigns (relying on email, Whatsapp and Telegram) combined with paid traffic to engage targeted buyers while matching the messaging to the stakeholder-specific perspective, interest and objections.
The marketing automation and customer data platform supported buyer’s journey mapping, content creation, campaign deployment, measuring, analysing, predicting and optimising our efforts.
The results were impressive:
- Sales cycle length reduction from 108 days to 58 days
- Increase of closed-won deals by 30%
- Improved pipeline by 140%
With the advancements in technology and the accelerated growth of new digital channels, B2B organisations have the opportunity to collect relevant customer data to provide a hyper-personalised experience and reap the benefits of such an approach.
To learn more about B2B Omnichannel Behavioural Campaigns and how they help your business grow even during times of uncertainty, get in touch with our team of experts at Behavioural Response.
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