For about 30% of B2B marketers, measuring the ROI of their marketing efforts has turned out to be the biggest challenge they face in 2022. Marketing is complex enough already, but the challenge of achieving and justifying a higher ROI makes most marketers sweat.
But what’s with this old-age interest in measuring marketing ROI? Well, the reason is simple – a higher ROI indicates that an investment’s gains greatly measure up to its costs. On the other hand, a low ROI could mean the marketing efforts weren’t efficient enough to attract the right audience.
So how does one deal with it? By developing foolproof marketing strategies that offer substantial returns over time.
This blog will walk you through the best marketing strategies you can use to achieve a higher marketing ROI.
1. Identify Brand Positioning
A successful marketing strategy begins with accurately establishing your brand positioning. Brand positioning is all about how you want the customer to see your brand. And is typically achieved through advertising, product design and packaging, sales techniques, public relations, personal selling, sponsorship, and other marketing communications.
2. Identify the Target Audience
To create a successful b2b marketing strategy, you must understand your target audience and what they want from you. You should also be aware of what other companies are doing in the same field as yours so that you can find ways to make your company stand out from them.
A part of identifying and understanding your target audience involves developing accurate buyer personas. Since a buyer’s purchase journey is anything but straight, creating buyer personas lets you personalize the customer journey based on their unique needs, challenges, and pain points.
3.Effective Content Creation
Content remains the king, even in B2B. And there’s no better way to achieve higher ROI than offering high-quality content to your audience. The goal of b2b content marketing is to increase brand awareness, lead generation, and customer retention through various channels like blogs, e-books, webinars, or social media posts.
Using content, you can satisfy your B2B audience’s strong desire to learn, get expert insights, and know more about the solutions that can help address their challenges. Additionally, you can also use gated content to drive more prospects to your business and ultimately get on the road to higher ROI.
4.Email Marketing
Email marketing has a high ROI and is easy to use.
The following are some of the ways email marketing can be used in a B2B marketing strategy:
- Email newsletters can be sent to subscribers or prospects with updates on products, services, and events.
- Sending emails with product updates, offers, and promotions to potential clients or customers will keep them interested in your company and make them more likely to buy from you.
- Sending emails about new products or services that match customer interests helps build relationships with your customers.
5. Go Multichannel
When it comes to B2B marketing, going multichannel boost your efforts tenfold. Email is not the only including social media, ads, websites, and more.
- Pay-Per-Click Ads: Pay-per-click ads are a form of online advertising that is becoming increasingly popular in the modern digital marketing world. The goal is to get the highest click-through rates possible for a campaign. This type of advertising also has a relatively low cost, which makes it an attractive option for B2B businesses with limited budgets.
- Social Media: Social media platforms such as LinkedIn have grown to be profitable channels for your marketing efforts. Not only is it an excellent place to build relationships with potential customers and influencers, but you can generate leads by creating engaging posts and visual content.
6. Map Out Target Audience
Targeting an audience is crucial, so your company’s resources are not wasted. Demographics and psychographics usually categorize target audiences. Demographics include age, gender, education level, marital status, income, etc. Psychographics have interests, values, lifestyle choices, and other factors that affect how someone makes decisions.
7. Measure the Results
Your marketing efforts will only be valuable and lead to higher ROI if you track results and act upon them. Identify the key metrics you want to track. This will help you understand what works for your business and what doesn’t, so that you can make timely changes for better results.
Wrap Up
Let’s face it; there’s no one size fits all solution when it comes to developing robust marketing strategies for higher ROI. It all depends on your business, your target audience, and the primary channels you want to use.
However, these tips mentioned in the blog will offer you a good headstart in the right direction.