4 B2B Marketing Trends You Should Consider in 2021
In 2020 all marketing activities had to move online, presenting new challenges like how to stand out in a saturated digital landscape where many are talking and few are listening. Additionally, in this digital landscape people are overwhelmed by a mix of B2C and B2B messages and promotions. Hence it becomes crucial for B2B marketers to understand which macro trends will likely have the biggest impact on companies throughout the year. Here’s a list of four macro B2B marketing trends that we suggest you watch in 2021.
According to Google, 2 in 10 searches on its platform are done by voice command. Whilst voice search is still closely tied with mobile use, combine this with the uptake of smart home devices which at the end of June 2020 sat at 61% of Australian households having at least one smart home product, and you can expect to see this rise.
As the algorithm becomes more accurate, companies will use it more and more for their solutions. In launching your content marketing strategy, do not overlook the significance of voice search to drive B2B traffic and sales to your company. For example, with text search the average length of keywords is three. Meanwhile, voice searches are characterised by long-tailed keywords, which are typically seven words or more. This provides an opportunity to revisit your SEO and SEM strategy and to capitalise on these keywords ahead of your competitors.
In the 2020-2021 environment, retaining existing customers is more important than ever. Most people see the immense value of ‘Retention Marketing’ due to knowing it is far easier and more efficient to sell to existing customers than it is to find new customers.
In practice, retention marketing is a set of activities that seek to maintain and nurture existing customer relationships which often result in higher ROI, being an increase in sales and a lower cost per conversion. Ultimately the goal is to increase the value of existing customers through increasing the products and services they commit to. So how much profit can you actually expect?
According to Harvard Business Review, a 5% increase in customer retention can deliver up to 95% increase in profits.
B2B Marketers love to talk about acquiring new customers and leads but the bottom line is that Retention Marketing might be a better place to start in 2021, especially if budgets are limited.
Some of the best ways to retain customers are:
- Onboarding & Education
- Customer Training
- Constant Communication
- Ongoing customer support
- Surveys & testimonials
- Customer appreciation
AI Powered Marketing
It’s nearly impossible to comprehend the impact that Artificial Intelligence (AI) is having and will continue to have on our lives. With it being considered the fourth industrial revolution, surprisingly when it comes to marketing, less than 1 in 5 organisations have actually adopted AI into their strategy or activities. However, two-thirds of B2B marketers are currently planning, evaluating, or implementing AI for marketing or sales initiatives. AI can make marketers more efficient and smarter at scale by offering better insights, faster analysis and by streamlining routine tasks.
Here are just a few examples of AI-powered marketing trends to watch out for:
- Personality Insights: Crystal is a Chrome extension that analyses millions of online data points and assessment tools to show you a prospect, customer or co-worker’s personality. This is an effective tool in gaining insights into the ways the individual interacts with others, conducts business, and even advises which phrases to use or avoid.
- Buyer Intent Data: Buyer intent data identifies people who are currently researching and/or in-market for your solutions, based on activity specific keywords searches, content consumption and website visits including your website or your competitors. Marketing campaigns can then be tailored to the audience’s interests and level of engagement, based on the insights into their stage of the buying journey.
Google created the term ‘micro-moment’ a few years ago. The concept addresses the changing behaviour of the consumer, in particular, their reliance on mobile devices. According to Google, micro-moments are intent-driven interactions of decision-making and preference-shaping that occur throughout the entire consumer journey. A micro-moment is when a person automatically turns to a device (usually a smartphone) to learn, do, discover g, watch, or buy something. These moments are important for marketers, as they are intent-rich.
In these moments, consumers’ expectations are higher than ever. When we act on our needs in the moment, our expectations are high and our patience is low. This makes the quality, relevance and usefulness of marketing more important than ever.
To take advantage of micro-moments in 2021, marketers need to ensure their business can be found when consumers are searching for information in the moment. As Google says, marketers have to “be there, be useful, be quick.”
In the mobile age, consumers have become accustomed to instant gratification. If they are thinking about something or discussing something, in many cases they will want to learn more, see more or buy more; and they want it with just a few clicks of a button.
To make the most of micro-moments, marketers should:
- Identify the moments where consumers want to buy/send an inquiry
- Identify and measure other moments that matter
- Ensure they are present in the consumer’s moments of need
- Create relevant content around these moments
- Make it as easy as possible for consumers to find information and convert.
Overall, as trends continue to develop and shift, it’s critical that companies tune into what their customers are saying and monitor how they engage online. Using several data sources like Google Analytics and social media reporting, as well as getting feedback from your sales team, is a great way of prioritising what trends to invest in. If you would like to discuss any of the above in more detail, we’re always open to talk!
In this digital landscape people are overwhelmed by a mix of B2C and B2B messages and promotions. Hence it becomes crucial for B2B marketers to understand which macro trends will likely have the biggest impact on companies throughout the year. Here’s a list of four macro B2B marketing trends that we suggest you watch in 2021