B2B marketing strategies mainly aim at generating the highest conversion rates possible. Higher conversion rates translate to higher revenues and thus business growth.
Conversion rates broadly refer to how many leads that go through the funnel eventually become paying customers.
For B2B businesses, this ratio is generally much lower than B2Cs due to several factors.
This article will discuss some of the best strategies you can adopt to boost your B2B conversion rates.
1. Focusing On Marketing Automation
Marketing automation tools are a must-have for your business if you are to achieve higher conversion rates. Automation tools save time and resources and are also essential in the lead generation and nurturing process.
Marketing automation tools provide the necessary data for lead scoring. Lead scoring enables you to identify which leads are the most promising and thus focus on those.
Doing so saves your team the time and resources in chasing the wrong leads.
Marketing automation tools help your teams to monitor and manage leads from one central database. Unlike spreadsheets, automation tools make this information accessible to all involved parties within the company.
Furthermore, a CRM and marketing automation integration even provides shared intelligence to your marketing and sales teams.
With data from the marketing automation systems, the sales teams can then identify and work with only sales-qualified leads who are most likely to buy. They become well acquainted with the lead's journey and thus know what tactics to use to convert them.
Without such synergy, your team would find this quite challenging.
Marketing automation allows your teams to measure and analyze results from their marketing efforts. They can analyze engagements, conversion metrics, etc.
This data then enables them to gauge which activities and channels yield the best returns. They can then focus on well-performing avenues and improve or discard those that are not yielding much.
2. Content marketing
Content marketing is a total game changer for B2B businesses trying to boost their conversion rates.
B2B content focuses on providing helpful information for customers, not just about the business but other data too.
Content is the most effective tool for positioning your business as an authority in the market. As you provide helpful content, it sends a signal to potential customers that you are knowledgeable about the issue and can help them.
As a result, it becomes easy for them to purchase your offering down the road.
Brand loyalty and trust
Content marketing can boost brand loyalty among potential customers. As they consume more content, they grow fond of your brand as a go-to source. They may even recommend you to others.
Brand loyalty increases the likelihood of purchase, therefore boosting your conversion rates in the long run.
3. Using Marketing funnels
Marketing funnels help your business filter out poor leads and guide the most promising ones to conversion stages.
There are several kinds of funnels like webinar funnels, live demo funnels, etc. So, your business must engage that which works best for your niche.
How Do Marketing Funnels Boost B2B Conversion Rates?
Top of the funnel: your business uses several tactics to draw in high traffic. A key step is to produce relevant quality content and use SEO tactics to attract the right prospects. Social media channels are also an excellent gateway to bring in the right leads.
Middle of the funnel: Here, your business provides prospects with content that answers their questions and further shows them what your business offers.
At this stage, email sequences are the most commonly used for B2B businesses to nurture these leads and move them closer to buying.
Bottom of the funnel: Towards the end of the customer journey, your salespeople now encourage the leads to buy through offers, discounts, etc.
The funnel is excellent at narrowing down all leads until you can pass off as many highly qualified ones to your sales team as possible. Your sales teams can then focus on converting a few promising prospects instead of wasting time with hundreds.
Marketing funnels are therefore essential for boosting conversion rates at the least costs.
4. Improving The User Experience
Statistically, customers are more likely to purchase from brands that offer a great user experience. This factor is therefore critical in improving B2B conversion rates.
Your business can enhance the user experience in several ways, which include:
Optimizing Your Website
Well-optimized websites make a great first impression. They also enable users to find what they are looking for easily. Such factors increase the likelihood that they will stick around.
Furthermore, even search engines like Google now consider website performance as key criteria to rank websites. Vital elements of well-optimized sites include:
a) Mobile responsiveness: Considering that most users now use their phones for web activity, your website must be accessible this way.
b) Fast loading times: If your website takes too long to load, most users will just close it and not bother going any further.
c) Easy navigation: Your website must be easy to get around, with clear links, breadcrumbs, etc. If users find it hard to get information, they may not return to it.
d) High readability: You must keep your messaging clear and precise, with adequate spacing. This aspect helps users find information faster and more enjoyable.
e) Clear calls to Action: These guide your leads to the next course of action. So, they must be short, clear, obvious, and carry a sense of urgency.
With these factors in play, your business would experience higher conversion rates. More and more prospects would move further down the cycle and become more likely to purchase eventually.
Having a responsive engagement system for your prospects enhances their user experience, making them more likely to convert.
Users want to receive prompt responses to their queries across all platforms. They also want to feel appreciated and understood.
So on both web platforms and social media, ensure that you cater to these needs. For instance, you could use chatbots. These help you provide quick help to potential customers.
However, all your efforts must maintain a human touch.
Great user experiences now more than ever are critical to realizing higher B2B conversion rates.
5. Highlight Lead Nurturing Processes
In the customer-focused environment, lead nurturing is a key ingredient in increasing B2B conversion rates.
The lead nurturing process takes leads that you capture through different avenues, e.g., Blog subscriptions, web forms, etc. It then moves them through various stages, providing them with content and other benefits.
Their responses then show you which leads are more likely to convert, pushing them further down the funnel. Emails are the most used tool for this process.
How does lead nurturing increase conversion rates?
Lead nurturing ensures that you actively engage your leads until they are ready to make a decision. When done right, it is then easy for the sales team to use the right incentives to induce a purchase decision.
Lead nurturing can also boost brand loyalty which can also facilitate conversions.
NB: Lead nurturing also heavily relies on marketing automation software. These tools enable you to provide content consistently to multiple leads.
For your B2B business to grow, it is not enough to generate more leads and increase your conversion rates. Above are 5 of the top strategies that leading firms are now using to maximize their B2B conversion rates.
At the center of these strategies is marketing automation software. These tools tie together most marketing techniques making them faster and more efficient to execute.
The most successful businesses, therefore, now prioritize marketing automation tools like SharpSpring.
Check out the different tools your business can have at your disposal to enhance lead generation and drive higher conversions.