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B2B

Marcomms fund to support circular economy
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A new fund has been launched by the Chartered Institution of Wastes Management (CIWM) to give circular economy innovators the opportunity to fast-track their ambitions and grow their business through fully funded brand communications, marketing and design support. 

The Circular Economy Innovators Fund is the first of its kind and will see up to six businesses awarded tailored support to the value of £10,000 each to build on their marcomms strategy.

Aimed at small and micro businesses based in the UK and Republic of Ireland, CIWM is looking for emerging circular economy innovators that have established their businesses and are looking to expand and broaden their offering.

The fund’s unique approach will give small teams with big ideas access to crucial guidance and skillsets that can help their businesses grow. The winners will receive support from an award-winning communications agency, Barley Communications, whose experienced brand designers, media relations specialists and social media experts will work alongside them to understand their needs and develop a tailored brand communications plan and corresponding content for them.

CIWM’s President Dan Cooke said: “CIWM’s purpose is to move the world beyond waste and accelerating the transition to a more circular economy is vital to achieving this. The Circular Economy Innovators Fund is the first challenger fund to offer circular economy businesses access to specialist marketing and communications support and expert advice to fast-track their business growth.

There are many small and micro companies in the sector that have incredible forward-thinking products and services which clearly contribute to greater resource efficiency and a more circular economy. But they might welcome help with accessing the skills required to better tell their stories and accelerate their business to the next level. Through partnering with a communications agency that has strategic experts in a wide range of areas, winners can choose which channels of communication they feel they will most benefit from.”

The Circular Economy Innovators Fund is open to small and micro businesses that have a focus on contributing to a circular economy. This can include businesses promoting initiatives that involve sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products for as long as possible.

Applications are open until Monday 22nd April. Successful applicants will be selected by early summer and winning projects will be featured across CIWM’s award-winning content channels later in the year.

For more details on the fund and how to apply, visit: www.surveymonkey.com/r/cefund.

LEAD GENERATION MONTH: How to maximise the lifeblood of B2B marketing
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In B2B marketing, lead generation reigns supreme as a core principle that fuels business growth. Unlike the impulsive purchases common in B2C marketing, B2B transactions follow a longer decision-making cycle, making lead generation a meticulously planned and nurturing process. Let’s break down the key principles of this vital concept…

What is a B2B Lead?

A B2B lead isn’t simply a contact name on a list. It’s a potential customer, an individual within a target organisation who demonstrates interest in your products or services and fits your ideal client profile. These leads likely hold decision-making authority or influence the purchase process.

Why is Lead Generation Crucial?

  • Targeted Growth: Lead generation provides a pipeline of qualified prospects, ensuring a focused sales approach rather than indiscriminate cold outreach. This translates into higher conversion rates and a more efficient use of your sales team’s resources.

  • Building Relationships: Lead generation initiates two-way communication between a business and potential clients. Even if a lead doesn’t immediately convert, nurturing the relationship fosters brand recognition and establishes trust, potentially influencing future buying decisions.

  • Data-Driven Marketing: The information gathered during lead generation offers valuable insights into your target audience. This data illuminates their pain points, preferences, and behaviours, informing your content marketing, messaging, and product development strategies.

The Key to Effective B2B Lead Generation

  • Identifying Your Ideal Customer: Clearly define your ideal customer profile by factors including industry, company size, job titles, and the specific challenges they face. This laser focus will dictate your lead generation strategies and increase the likelihood of attracting highly qualified leads.

  • Understanding the Buyer’s Journey: B2B purchases involve a complex journey with multiple stages. Mapping this journey helps you determine the best types of content and offers to attract and engage leads at appropriate moments.

  • Offering Value: Potential B2B clients are bombarded with information. Capture their attention by providing genuinely valuable content like ebooks, webinars, or whitepapers, addressing their pain points and showcasing your expertise.

  • Omnichannel Approach: Don’t rely solely on one lead generation tactic. Diversify your approach across tactics like content marketing, email campaigns, webinars, social media, and even trade shows to maximize your reach.

  • Measurable Results: Continually track lead generation metrics such as website traffic, conversion rates, and cost per lead. This data-driven analysis allows you to optimise your strategies and identify the most effective tactics.

The Art of Nurturing

Lead generation is only the first step. Nurturing these leads through relevant content and communication is paramount for building trust and moving them through the sales funnel.

B2B lead generation is not a sprint; it’s a marathon. It necessitates patience, strategy, and the willingness to adapt to a constantly changing landscape. By fully embracing lead generation, B2B marketers unlock the path to targeted business growth, establishing long-term relationships with clients who truly value their solutions.

Are you searching for Lead Generation Solutions for your organisation? The Digital Marketing Solutions Summit can help!

Photo by LinkedIn Sales Solutions on Unsplash

B2B buyers value 3rd party interactions more than those with digital suppliers
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B2B buyers report that they value third-party interactions 1.4x more than digital supplier interactions, according to new Gartner data.Its survey of 771 B2B buyers conducted in November and December 2022 revealed some third- party interactions, such as reading customer references or reviews and consulting directly with third-party experts, are better suited to provide customers with value affirmation.

“Buyers want to feel confident throughout their purchase journey, and third-party sources can help get them there,” said Rick LaFond, Director Analyst in the Gartner Marketing practice.

The survey showed YouTube as the top social media channel to influence a recent B2B purchase decision, followed by Facebook, Instagram, Twitter, LinkedIn and TikTok (see Figure 1).

 

Figure 1. Social Media Platforms Informing Recent B2B Purchase Decisions

Source: Gartner (June 2023)

“Social channels are extremely under leveraged platforms for B2B brands,” continued LaFond. “Marketers can go beyond using social channels for flashy short-form videos promoting brand values to truly demonstrate how the brand supports different customer needs and pain points across various stages of the buying process.”While third-party interactions are top of mind for B2B buyers, a supplier’s digital channels still can have a large impact on the purchase process. When asked to identify which digital supplier interactions were engaged during a purchase decision, B2B buyers identified a supplier’s website as the most leveraged channel, followed by the supplier’s social media channels, an online search for the supplier and the supplier’s interactive tools (e.g., product recommenders, price calculators).

“Brands do not need to have their social strategy solely rely on third-parties,” said LaFond. “The data clearly shows that buyers are approaching social from a holistic buying perspective.

“Brands’ digital experiences must improve if they are so far down the list of what customers value. Most B2B CMOs are probably not tapping into the return of third-party interactions despite the weight they carry in serving as information sources for their buyers.”

Supplier e-commerce sites ‘failing’ B2B buyers
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B2B suppliers are failing buyers, new research has found, with 52% of e-commerce sites not fully meeting expectations. Difficulty finding relevant products (32%), none or not enough product images or videos (30%), and an inability to talk to someone or ask a question (28%) were identified as the top frustrations with underperforming sites.

The research also highlights an increasing volume of order errors, with 37% of buyers reporting errors with online orders at least on a weekly basis, and 11% reporting errors daily.

The survey, conducted by Sapio Research on behalf of Sana Commerce, found accelerated digital transformation in the B2B buying space, with more business being conducted online than ever before. E-commerce platforms have seen the largest increase in usage since the outbreak of the pandemic (58%). In fact, two thirds (66%) of companies are spending more online now than they did prior to the pandemic, by an average of 45%. The research shows that companies are now spending an average of £3.6m online each year, with 428 business-critical orders placed each day.

However, as more purchasing has moved online, order errors have disproportionately soared, suggesting that many suppliers didn’t have the scalability needed for this widescale shift. 37% of B2B buyers have reported errors with online orders at least on a weekly basis, equating to £1.3m in orders being affected by errors per company, each year.

This compares with just 28% experiencing weekly errors in 2019. As a result, 46% of respondents are finding their productivity and efficiency levels affected while they contact the supplier to fix the issue, and 46% are experiencing delays in the already problematic supply chain. When asked what they believe to be the reasons behind these order errors, 38% of B2B buyers cited suppliers displaying incorrect inventory (38%), incorrect product information (37%), and incorrect shipping information (35%).

Survey respondents were also asked what was important to them in the buying process, and four in five identified the relationship between themselves and the supplier, with almost half classing it as very important. In fact, 84% said they would be more inclined to buy from a supplier they had a great relationship with even if the terms of sale were not as good as a competitor. Yet, despite the obvious importance of relationships it seems that many suppliers are still getting it wrong. 39% of B2B buyers identified supplier relationships as a customer experience challenge, coming only behind delivery and tracking (44%).

Commenting on the research findings, Michiel Schipperus, CEO at Sana Commerce said, “A look at B2B buying experiences in 2021 highlights the importance of sustainable supplier relationships, which don’t end after the purchase is made. However, as purchasing has rapidly moved online, it seems that many suppliers have failed to meet expectations and let their buyers down.

“Reliability – in data, service, and information – is evidently a crucial part of a good relationship, and this is a shortcoming that seems to be causing high volumes of order errors that are not only costly to the bottom line, but also to the buyer-supplier relationship. To eradicate these problems, suppliers should ensure their e-commerce sites are fully integrated with their ERP so they’re able to provide buyers with real-time, accurate information to inform their purchasing decisions.”

The growing demand for marketing software and tech
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By Leadforensics

As B2B marketers evolve to working in an entirely digital space, the need for innovative, reliable marketing technology to support their business strategy has never been clearer.   

In the current climate, B2B organizations are adapting to an entirely online approach. With no face-to-face meetings or events and their teams working remotely, software plays a crucial part in securing the best marketing results. With so many technologies available — and so many channels, strategies and teams it can support — there’s no excuse to dismiss the importance of investing in the right software. 

To get the most out of the software you opt to use, it’s crucial to include it in your business strategy from the outset. This way, you can check your budget, and assess whether or not you have the resources in place to fully understand, manage and properly utilize the tool. Set clear objectives, and ensure the tech you implement is making your life easier, not more difficult. Select tools that integrate with each other seamlessly, provide a simple and intuitive user experience, and have an easy and supportive onboarding process.

Lead Forensics is an innovative reverse IP tracking software that helps transform the lead generation process for B2B organizations. It works by tracking your business website and, by utilizing a global leading database of business IP addresses, identifying the business your website visitors are coming from. Users receive real-time notifications, contact details of key decision-makers and detailed user journeys. This way, they can reach out to the right person, from the right organization, at exactly the right time. Whether it’s a first-time visitor, a pipeline prospect or an existing customer, users are provided with the insight they need to conduct the ultimate follow-up. 

To find out more about the power of reverse IP tracking software, and how to secure marketing results in a remote working environment, download the B2B marketing managers’ guide to remote working success. From the benefits and challenges of working remotely and boosting motivation, to managing teams and embracing tech — discover everything you need to know. 

GUEST BLOG: Science and sales – A match made in heaven 
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It’s no secret that Artificial Intelligence (AI) is having an immediate effect on how businesses operate today. However, one area of business where AI is having the biggest impact is sales, with UK sales leaders anticipating AI adoption in their industry to grow over 150% by 2020. 

Executed correctly, AI now has the potential to revolutionise sales and marketing processes, enabling companies to increase the speed, accuracy and output of lead and revenue generation. AI can not only assist in identifying and targeting ideal customers, but it can be leveraged to align sales and marketing activity and deliver integrated campaigns, ensuring the right person can be contacted at the right time, in the right way, with the right message.

James Isilay, Founder and CEO, Cognism, outlines how lead generation has transformed to become far more scientific than ever before, and how companies that use relevant, intelligent, accurate and timely data will reap the rewards.

The sales funnel is broken 

The introduction of GDPR undoubtedly disrupted the way marketing teams carry out inbound digital marketing and sales strategies. However, it has been a long overdue wake up call for the industry: organisations have realised the poor quality of their data which until now, has resulted in inefficient and ineffective marketing outreach.

GDPR has forced companies to take a look at the data they are using and how they are using it. A key aspect of the regulation is ensuring that data is fully up to date; a welcome side effect of this is that it means every outreach is more relevant and effective. And it’s not just about ensuring the contact details are up to date: it is about leveraging detailed, up to date insight to rapidly identify new revenue streams.

Strategy and data 

Customer and prospect data can be an incredibly valuable resource, but it can also be a liability. Poor quality contact and lead data is certainly one of the most frustrating aspects of any B2B outbound sales campaign. From job changes to company acquisitions, data is always in motion. In fact,  approximately a third of CRM data degrades every year with most sales teams using data that is 60% out of date. Improvements to the sales process must be supported by a completely different approach to data sourcing: static CRM is no longer good enough, so B2B sales organisations need access to fresh, accurate and GDPR compliant data.

New business relies on new opportunities. From identifying an existing customer that moves to another company or champions promoted within an existing customer, there is always an opportunity to upsell or find a new prospect. In order to regain data confidence, fix the broken sales funnel and ultimately achieve revenue growth, a more scientific and strategic approach to data sourcing is required.

Data with a fourth dimension

Relevant data is essential if businesses want to ensure they are reaching the right contacts. In addition to the two dimensions of company and people, adding the third dimension of events and fourth dimension of real-time data completely transforms the way in which a business can identify and reach its total addressable market. But how can companies bring the science into their sales strategy and ensure their data is fresh and up to date? The answer is AI.

Bringing science to sales 

From LinkedIn Profile to company websites to corporate announcements, these data points are crucial sources of information for the sales team when it comes down to adding a fourth dimension of time into data. Artificial Intelligence powered data tools can provide a deep data resource, allowing sales teams to access the information they need to ensure strategic and effective outreach. Data profiles include skill sets, education, time in certain roles, even specific technologies that are in use which is everything needed for a successful sales call to identify hot leads.

This sales intelligence extends across the globe and into every industry allowing B2B lead generation to be based on specific triggers allowing the sales team to hone their pitch and improve responses. The fourth dimension of time remains key in this strategy as it enables the sales team to exploit specific events such as funding rounds or geographic expansion and target the right prospect at the right time.

What makes this strategy truly smart and strategic is the feedback that is provided by Revenue AI. With each new outreach campaign, responses are fed back into the system, providing further insight and a better understanding of personas and their reaction to specific messaging – it is Revenue AI’s constant feedback loop that ensures the sales and marketing activity retains momentum and continues to deliver value.

Conclusion

With current outreach activity wasting time by using out of date contacts and failing to maximise revenue growth, the case for sales to be underpinned by a scientific strategy is clear. Few companies have achieved a truly scalable, integrated and harmonised B2B sales operation that maximises opportunities, but those who have are certainly reaping the benefits and seeing significant growth.

Like science, B2B sales success is all about the metrics – it’s about understanding and refining the process and ensuring that the right team structure is in place. With the right sales model that is underpinned by AI, a company can quickly and effectively explore and exploit a source of accurate, fresh, real-time data to achieve fast, targeted and timely B2B lead generation and sales activity that is effective and efficient.

Image by TeroVesalainen from Pixabay

Survey demonstrates the qualities of high-performing marketers…
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Autopilot has revealed that high-performing marketers are surpassing their peers when it comes to customer journey marketing, with some generating revenue growth by as much as 122 per cent.

Consisting of 505 marketer responses, the email marketing firm’s ‘2016 State of Customer Journey Marketing‘ report found high-performing marketers generate revenue 58 per cent faster than their colleagues; acquire 23 per cent more leads; are twice as happy with their performance; and win a higher number of customers.

Brand awareness was pinpointed as a ‘main measure of marketing success’ (29 per cent), closely followed by customer satisfaction (22 per cent), and, for B2B marketers in particular, 43 per cent claim investing in brand assets is a ‘top priority’.

The report states: “All marketers are prioritising brand awareness, converting leads to sales and generating new leads. But high performers are investing in customer events and marketing, referral and satisfaction programs, and analytics and attribution, rather than in online ads, to get there.”

High-performers affirm the top three investment areas are: customer events and marketing (35 per cent), loyalty referral programmes (29 per cent) and analytics and attribution (19 per cent).

  

Download Autopilot’s research here  

Facebook beats LinkedIn as content king for senior execs…
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B2B content marketing agency, Grist has confirmed Facebook to be the ‘go to’ social platform for C-suite executives to seek business advice.

As a result of its new ‘The Value of B2B Thought Leadership Survey’ – presenting the findings from more than 200 interviews conducted at FTSE 350 companies – Facebook was cited as the most popular social platform for senior executives to engage with business content (79 per cent), followed by Twitter (73 per cent) and LinkedIn (68 per cent).

Regards thought leadership, 84 per cent believe this plays an important part in adding value to their role. Meanwhile, two-thirds search for thought leadership particularly on a Monday and believe it fails to make an impact when it’s too generic (63 per cent); lacks original ideas (58 per cent); or doesn’t address the reader’s needs (53 per cent).

Andrew Rogerson, founder and managing director at Grist said: “This research is great news if you are in control of your firm’s marketing and communications programme. The C-suite clearly values thought leadership and is happy to receive it from advisers.

“However, we can also see that much of this content is below par. The C-suite is a sophisticated and demanding audience, and will not respond to rehashed marketing material. Instead, thought leadership must provide a return on investment (ROI), both for the firms that invest the money to produce it and the senior executives that invest time in reading it.

“Consider, too, that Facebook matters in business-to-business communications. The marketing department, content teams and agencies need to deal with the consequences of this and devise a compelling editorial plan that includes a wide range of channels and different perspectives.”

Format was also discussed, as 800-word articles (63 per cent) and 300-500-word blog posts are preferable to longer content pieces.

Access the full survey here

LinkedIn joins ASOS and John Lewis for marcomms campaign…
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The world’s largest online professional network, LinkedIn, has joined forces with retail companies John Lewis and ASOS with the launch of its new international B2C and B2B marcomms campaign, designed to drive awareness of its ‘Jobs’ function as well as support engagement amongst its global members.

‘The Way In’, which is a content-led marketing campaign, focuses on delivering inspirational stories from LinkedIn members who love their jobs, and details how professionals can achieve greater fulfilment from their careers. The integrated campaign features dedicated content, social and PR elements that will run from throughout the month of October, and marks the brand’s biggest UK campaign of the year.

Content is hosted on the campaign’s microsite and includes member and recruiter interview videos from ASOS and John Lewis. Additionally, ASOS UK headquarters have opened their doors to produce 360 degree videos that provide a behind-the-scenes look at the eTailer’s operations.

Director of consumer marketing, EMEA at LinkedIn, Peter Maxmin, explained how the campaign was created: “Being fulfilled in your job plays a big factor in both your personal and professional happiness and development. It seemed natural for us to develop a campaign that inspires professionals to think about what they love about their jobs and how to be more fulfilled in their careers. It’s great to be teaming up with some of the world’s biggest and most recognisable brands to help people find the way into their dream career.”

‘The Way In’ will also include comprehensive research conducted across eight markets: the Netherlands, UK, the US, Germany, France, Australia Canada and Singapore.

To find out more about campaign, visit: lnkd.in/thewayin.

 

You can also join the conversation on Twitter using @LinkedInUK #TheWayIn

Guest Blog, Cain Ullah: Building partnerships in B2B: How to get buy-in…
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As an external partner in B2C, you are likely to focus on customer demand, experience and building products and/or services that they would want to use; it’s relatively straightforward. However, the challenges in the B2B space are different. It’s often services and systems rather than products, so business value can be more difficult to demonstrate, therefore selling the benefits and maintaining buy-in in such a partnership is often challenging. However, the rewards for success can be enormous.

Often, the biggest challenge in a B2B environment is getting stakeholder buy-in. Innovation in the B2B space requires influence from the right partners to help organisations make bold decisions around technology. Implementing a fresh approach to delivering new products and services can often mean new business practices, and having the support of the right internal stakeholders is essential in the tougher moments of initiating change. Using an empathetic approach and working collaboratively are effective tools to help your client build influence. Once stakeholder buy-in is achieved, it’s more possible to drive value beyond the project you are involved with, across the business and directly to customers. All of these elements need to be lined up to be able to reach the end goal of exceeding customer demand, creating exceptional customer experience and selling products and/or services.

 

WHY?

As a consultancy brought in to fix a business problem, Red Badger often sees similar issues in most enterprise-size businesses. Enterprises are simply not structured to deliver value to customers fast. By changing focus to driving value to the customer, a leaner, more collaborative and technologically bolder business model emerges.

 

HOW?

The most effective way to sell the benefits of change internally is to clearly illustrate a path to achieving the overall business objectives. This should be done by tackling smaller pieces of work first, drive value early and prove ROI; rather than trying to change a whole process, or replace an entire system. It’s okay to have lofty goals, but you must get there through a continuous series of small steps.

First of all, empathise with the problem, the space and the customers. You have to understand your client’s customers as well as, if not better than, they do. Collaboration with the client throughout the lifecycle of the project from the very beginning is crucial, so that you are considered part of the team.

Then, don’t over-reach. It can be perceived as arrogant and easily backfire. Identify, target and tackle problems that are achievable: small and bite-sized. Each win that you can prove translates into another example of how you are driving value to their customers and reminds more stakeholders why you are important to keep on-board. To maintain customer buy-in, you have to maintain value.

As the saying goes, speed is of the essence. If you can produce tangible results fast, buy-in is easier to uphold. Results can be marked out as  helping to drive change, and, ultimately, the results will speak for themselves.

The ‘dos’ and ‘don’ts’ that every business working in B2B needs to be aware of:

 

  • Don’t take on challenges that are too big to win.
  • Do prove your value throughout.
  • Don’t forget that your primary focus should be on the customers; what their own end goals are not yours.
  • Do help them to be bold with technology rather than relying on the ‘enterprise’ solution.
  • Do have empathy for your client and understand their internal challenges.
  • Do have a level of pragmatism. Don’t be too dogmatic. When dealing with organisational change, you have to pick your battles.

 

Cain Ullah is a founder of Red Badger, with responsibilities including; strategy, culture, sales and marketing. He is extremely proud of Red Badger’s people and is focused on scaling quality and a lovely culture in the team.

 

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