To keep your Business-to-Business (B2B) company running, you’ll need to increase your revenues. What’s more, it also indicates that your business has a good financial condition.
You must ensure you’re doing everything you can from raising your business reputation to implementing the latest technology trends. But if you notice your strategies or plans aren’t driving revenue or any results, then it is the right time to take another route. Keep on reading to know more about the most important things a B2B company should be doing to drive more revenue.
1. Improve Digital Presence
Aside from being engaging and informative, your website needs to be discoverable too. And this is possible by implementing technical Search Engine Optimization (SEO) techniques. Usually, these include everything from having meta descriptions and viewable image alt-text to website speed and structured data that people can’t view.
Nevertheless, if you’re unfamiliar with the ins and outs of SEO, consider working with a B2B SEO agency. Currently, there are lots of agencies offering B2B SEO, but know that not all of them can give you results. So, be sure to choose the right agency thoroughly. If possible, choose one that is reliable and has been in the industry for quite some time.
2. Invest In Content Marketing
Having a website is not enough. This might be true if you want to increase your revenue. In other words, you need to drive more traffic.
One great way to generate leads, boost brand awareness, build a trusted customer relationship, and drive traffic is content marketing. Content marketing, on the other hand, could also bring the perk of compounding Return on Investment (ROI).
When you’re publishing more content, all your materials will be in the search results. Compared to Pay-Per-Click (PPC) online marketing, a content marketing strategy will stick around long after you stop compensating for it. This entire self-supporting strategy could offer streams of inbound leads in the long run.
What this means for B2B companies is to start a blog. Simply write about the things you already know. Remember, if you could give valuable information about the specialization of your business, you will be able to attract customers. You’ll also be able to engage with the right people as your possible customers, who can bring in more revenue. Additionally, you will offer continuous value to your existing clients.
On the other hand, aside from writing a blog, you can also start making videos. There are so many reasons this kind of content is a crucial part of B2B sales processes. Videos are known to be entertaining and engaging. They also have higher ROI as some people prefer to watch a certain product than to read it.
However, this doesn’t mean you’ll need to start vlogging or streamer. In case you do not feel like becoming a vlogger, try sending a personalized email to your prospects. You may also attach a short video to your blog.
3. Come Up With a Solid Email Marketing Strategy
An email is one of the best ways to keep existing customers in the loop. They will be able to know about the new updates and features of your B2B company. Thus, this will lead to increased customer retention.
Emails could even foster new prospects into acquiring your service or product for the first time. However, when utilizing this technique, be sure your email will not get into the spam folder. By doing so, will badly affect the conversion of B2B sales. To lessen the risk of your message being put in the spam folder, consider sending a personalized email. Also, simply adding their names in the subject line can increase the reliability of the email.
4. Don’t Be Shy to Ask for Referrals
Unfortunately, some sales representatives ignore asking customers for referrals despite being good at their work. This may be due to a lack of experience or shyness. Remember this is a big mistake that needs to be addressed.
Word of the mouth is one of the strongest influencers when it comes to buying decisions. You could use referrals to boost your B2B sales passively in the future. You will be able to cut down the time needed to get the attention of your prospects. Nevertheless, you need to make it a point to ask for referrals when talking to customers at all times.
5. Choose Proper Marketing and Promotion
Both marketing and promotions could provide customers with a good deal of the existence of the services and products in the market. In most cases, discounts can give customers that chance to try what your company has to offer. Also, promotions might help in attracting more customers while maximizing the number of your existing clients.
You can also give them a rebate. This is an overdue discount that is allotted after acquiring a percentage of the cost in cash. The known discount could generate additional sales, whereas the lower redemption rate may reduce its cost.
6. Create Metrics That You Can Use to Measure Marketing Success
Keep in mind if you have to be able to measure your spending as well as results. Failure to do so, indicates you don’t have any idea of what needs improvement and what is working. Therefore, you have to be aware of the channels that bring visitors to your site. This will tell you something about your marketing strategies and target market audience.
If you can quantify your customers’ conversion rate, you could safely say it’s a worthy investment. Furthermore, being able to compare it to your more traditional sales strategy can offer perspectives. This may inform you on how crucial the internet is to the market audience you are targeting.
So, make sure to determine sales goals, track the Key Performance Indicator (KPI). Also include the total acquisitions, revenue, and customer retention. Afterward, you may also track the initiating source of the lead.
Driving revenue for your B2B company doesn’t have to be difficult. Hopefully, the above-mentioned strategies have helped you. Keep experimenting with your strategies to determine the ones that will work best for you to see continuous and long-lasting results.