The core of B2B marketing is building reputation, demonstrating capability, and showcasing credibility to very specific B2B audiences. B2B marketers have to be acutely aware of their audience. Who are you selling to? How can you engage them so that they are interested in what you have to offer? How can your product or service solve a problem that they have better than your competitors?
B2B customers can be more difficult to sell to than their B2C counterparts due to the complexity that is often associated with a B2B purchase. The following are some of the characteristics of the B2B buying cycle that all B2B marketers should know.
- Niche Target Market: As their products and services are more specific, B2B advertisers are often selling to a much smaller target audience.
- Multiple Decision Makers: It can be difficult for B2B buyers to know exactly who they are targeting, as the person they want to reach can be from one of various departments in a company. Often, a number of people will be involved in making the final purchase decision.
- More Considered Purchases: B2B purchases are most often high-involvement decisions, as the product is at a much higher price point than a consumer product. In addition, the final purchase decision affects multiple end users.
- Longer Sales Cycle: In most cases, it is necessary to form a relationship with a business buyer. Decision makers can be reluctant to commit to buying a product before they know more about the business they are dealing with. This can take a long time, so getting a B2B sale is often not a quick win.
- More Complex Buyer Journey: B2B decision makers are typically less emotional and more savvy buyers. They will compare various alternatives and take their time to find the solution that best meets their needs.
As the B2B buying process is much longer, it is highly unlikely that a B2B decision maker will convert the first time they come to your website. In fact, only 2% of website visitors will leave their contact details. That means that 98% of your website’s visitors will browse and then leave your site, remaining anonymous. This is a problem for businesses for two reasons:
- You don’t know why they left without converting. Are they not in your target market? Is the landing page ineffective? Does the landing page not match the messaging in your advertising campaigns? If you can identify your visitors, you can find out why they left and answer these questions.
- If you don’t know how to reach visitors once they have left your site, you have effectively missed out on the significant majority of your sales opportunities. This is particularly devastating after you’ve put so much time and energy into attracting them to your site in the first place.
But how do you increase this 2% to significantly higher conversion rate? Data. In-depth, insightful data that can identify exactly who these people are so that you can retarget them and attract them back to your site.
Fortunately with digital marketing, we have the unique ability to collect huge amounts of data that can be used to inform future campaigns. When applied effectively, this data is the most powerful tool in any marketing strategy; because, the better you know your customer, the better you can target your campaign and offering around them.
What Information Can I Find on Website Visitors?
Google Analytics is an excellent starting point. It is ideal for showing details about the website’s performance. It also provides site owners with information on the website’s audience and their demographics, behaviours, interactions with the site, acquisition, and conversion rates.
The following is some of the key audience information that you can get from Google Analytics.
- Demographics: Knowing the gender and age of your site visitors can help you determine whether they align with your target audience.
- Location: Similarly, if you know the location of your site visitors, you will know if they are relevant to your target audience.
- Acquisition: This report tells you how a visitor got to your site, for example, through Google Ads, Social Media, SEO or email. This gives marketers an indication of how well various marketing strategies are working.
- Behaviour Flow: Showing the journey from the most popular landing pages to other pages on your site, this report can give important insights into where visitors are commonly exiting the site.
- Bounce Rate: This is when visitors leave after a short time on your site without looking around. If your site has a high bounce rate, you may want to look into load time, design, and whether your advertising campaigns align with your landing page.
- Page Popularity: By identifying the best and worst performing pages, you can see which landing pages are effective in engaging users from ads, and which need a little more fine-tuning.
While this is all useful information, Google Analytics does not gather information on leads or qualify the leads on your site. To access this valuable information, you will need special lead software.
How do I get More In-Depth Audience Analytics?
With a comprehensive lead software package, you can find out much more relevant information that is specific to each individual member of your audience.
The following are some of the insights that lead software can provide your B2B business with:
As a B2B business, it’s most likely that you want to know the size of the company that the prospect works for, as well as the industry that they operate in, and any other prominent contacts in the business.
You want to know how engaged a visitor is with your site, as well as how they are looking for your products or services on other sites. This is a good indication that the prospect may be interested in the products or services that your business provides.
By knowing how much a prospect is engaging with your emails, you can prioritise communications to recipients with high open rates and click-through rates. These are strong indications of interest.
Social Media Engagement
Measuring a particular lead’s engagement with your social media can help you determine how interested they are in your content. For instance, you can track the number of likes, shares and clicks that certain users contribute to your posts on Facebook and Twitter. This gives you an indication of the differing quality of leads and, ultimately, allows for you to identify individuals who are more likely to convert.
Start Generating More Leads with Data-Driven Marketing
Gaining an enhanced understanding of who’s visiting your site, what users are searching for and how they’re interacting with certain webpages is crucial. Integrating valuable data capabilities across your online activities is key to doing this effectively.
The information drawn from data analysis can (and should) guide your marketing efforts, ensuring you have clear, researched direction for your campaigns. By using data to inform your campaigns, you have the opportunity to pinpoint campaign or website downfalls, all the while refining your consumer targeting to make sure your efforts are reaching the right people.
If you want to optimise your online domains, collecting, analysing and deriving telling conclusions from data is paramount. There are various brilliant data tools that can aid you during each stage of this process, automating processes and removing the administrative burden of tasks that involve high volumes of data.
Are you investing your time, money and resources in the most promising prospects? Does your website support conversions, or discourage users from taking action? It’s time to improve your current marketing approaches with high-quality, valuable data.
Find out how to apply these strategies to your B2B marketing campaigns with the B2B specialists at the Lead Agency.