What Your B2B Marketing is Missing & How to Fix it

Sep 18, 2019
Sam Panzer
Customer Success Manager
Min to read

A big challenge that most B2B companies face, is that most of the 'tricks' used to convince customers are way less effective on sales-people and marketers.

They're most likely implementing these same techniques and will be highly skeptical of buzzwords and bold claims.

So here are some tips to improve your promotion marketing strategy in this area of business and offer real value, that businesses can't turn down.

14% of businesses fail due to poor marketing. -B2B PR Sense Blog

Today we will share 5 effective promotion ideas you can add to your B2B marketing strategy:

1. Social Product Referrals
2. Free Trial/Subscription Discount
3. Re-engage Your Inactive Leads
4. VIP Loyalty Program
5. Product Bundling

Compared to B2C marketers, you have a different sales funnel, target audience and set of decision-makers. But that shouldn't stop you from sending out promotions.

When implemented successfully, your promotional campaigns will improve customer engagement, increase brand awareness, lower customer acquisition costs and increase conversions.

So, let's get to it.

1. Social Media Product Referrals

The example: Ask customers to share your product on social media using a unique URL. Every time a new customer signs up for your service or purchases your product, reward the advocate with a relevant discount.

The reason why:

75% of B2B Buyers are influenced by Social media. The new B2B buyer is educated in social media and doesn’t require face-to-face contact. -Ecommerce & B2B

Tactics: Use segmentation and personalization to communicate the benefits of your referral program to a targeted group of active users (regular purchasers, long-time subscribers etc.). Ensure your call to action is clear and it's easy for customers to share the right message.

Report on laptop

2. Free Trial and Subscription Discount

The example: Offer customers a subscription discount when their free trial is about to expire, where they can get 5% off for 1-month or 30% off for a 6-month subscription.

The reason why:

42% of B2B companies state that Customer Retention is a top metric for measuring the success of their e-commerce programs. -Ecommerce & B2B

Tactics: To increase customer retention, strategically remind users that their trial is ending by offering a valuable discount on a subscription. Reward them for completing the trial and simultaneously encourage longer subscription plans with a greater discount. Use marketing automation to trigger well-timed and personalized email reminders.

3. Re-engage Your Inactive Leads

The example: Offer inactive leads and old customers a free trial or compelling discount on your latest features by sending a coupon code in a personalized re-engagement email.

The reason why:

80 % of buyers say “no” four times before saying “yes”. However, 92 % of sales representatives give up after four negative answers.-Marketing Donut

Tactics: Personalize your email as much as possible. Clearly communicate the improvements made to your service or software, new features and give reasons why they should still be interested. By offering a free trial, they have the opportunity to see the improvements themselves.

4. VIP Loyalty Program

The example: Invite enterprise or high-value customers to join your VIP Loyalty Program and offer them special access to new features, subscription discounts, partner with third-party companies to offer special bonus deals or access to special events/conferences.

The reason why:

75% of US companies with loyalty programs generate a positive return on investment. -Loyalty 360

Tactics: Loyalty programs are ideal for retaining customers while improving the experience of high-value customers. Ensure the benefits are clearly communicated and the rewards are relevant to your customer segment. Ask users to sign up via email or promote on your website.

5. Product Bundling Campaign

The Example: To promote a higher value product or new feature, offer several products for a discounted price. Make it a limited time-offer to add a sense of urgency.

The reason why:

Half of all B2B purchases will be made directly online by 2018...B2B buyers expect to make around of 50 % of their purchases online, without the intervention of a sales rep. -Forbes

Tactics: Offering several products or features for a discounted price or including something for free is a great way to nudge customers down the sales funnel towards conversion. You bring value to customers and increase revenue if executed properly. Promote it on your website, in a targeted email or newsletter.

Achieving B2B marketing success will require you to collect the right customer data, make a detailed analysis and have a powerful promotion solution in place.

Once you have the analysis and the right promotion solution in place, you will see a positive return on investment, increased customer retention and reduce your promotional spend.

If you'd like to see the type of techniques we help our partners implement in their promotions get in touch. or if you prefer to see with your own eyes, book a demo and we'll show you how our Promotion Engine works.

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