As firms are finalizing marketing plans and looking ahead to 2015, it’s important that they are laser focused on doing what matters. Unfortunately, there are many common B2B marketing myths that can negatively impact a firm’s marketing efforts.
Just as many great minds once thought the world was flat, there are plenty of B2B marketing misconceptions that are widely held and need to be abandoned in 2015. Here are six to consider:
1. Content marketing = SEO
One of the most popular marketing trends of the last decade, content marketing is a victim of numerous mischaracterizations. Perhaps the most rampant is that content marketing is simply “the new SEO,” the latest way to increase search rankings. While Google’s latest algorithms do place an enormous emphasis on rewarding publishers of high quality and relevant content, that doesn’t mean that content marketing is purely an SEO exercise. Content marketing done right absolutely can and will increase search rankings and drive web traffic. But SEO is an ancillary benefit of content marketing—a subset of your program—it’s not the primary goal or purpose, nor should it be your sole motivation for creating content.
2. We don’t make sales or close deals on our website
Many B2B services firms believe that their website exists as nothing more than an online brochure. It’s simply a placeholder for company and contact information. After all, clients don’t just add engineering services to a shopping cart and pull out their credit card. But while the actual purchase or contract doesn’t take place on the website, the idea that sales aren’t made (or lost) on the website is misleading.
Today’s B2B buyers are research-savvy and self-directed, researching online—often extensively—to find and vet potential vendors before making a purchasing decision. Studies from the Corporate Executive Board Company have found that today’s B2B buyers go through nearly 60% of the purchasing process before ever talking to sales. So what is your website doing to engage these buyers before they engage you? Needless to say, your website plays a significant role in this process, as prospects research, evaluate and compare your qualifications to those of your competitors.
3. Marketing automation software is a magic wand for online marketing
Marketing automation software is an incredible tool for online marketing, providing marketers with the tools and analytics needed for effective lead generation and lead nurturing. For those who use it well, it’s been proven to demonstrate massive ROI, which is one of the many reasons marketing automation software continues to see enormous growth (the latest analysis from Frost & Sullivan predicts global software revenue will reach $1.9 billion by 2020). But the software alone isn’t a magic wand. As with CRM software, without the right strategy, implementation and processes in place, the software will fall flat and ultimately fail to do what it was expected to do. With marketing automation, purchasing the software is the easy part. And the inclusion of the word “automation” is a bit misleading, as everything that is automated rests on extensive strategy, planning, content, programming and ongoing time and attention.
4. We need to be on as many social platforms as possible OR we don’t need to leverage social media at all
Social media marketing strategies (or lack thereof) are fascinating in the B2B space. On one hand, there is a common belief that as social platforms continue to expand, forward-thinking firms need to be jump on board and be anywhere and everywhere. On the other hand, there are still a fair amount of B2B firms (especially those in more traditional industries) that are resistant to social media marketing altogether.
But the truth lies somewhere in the middle. Social media marketing for B2B firms is not a question of ROI, it’s a question of relevancy. The fact is that B2B audiences are using social media platforms such as LinkedIn and Twitter for business purposes. So if you’re not there, you’re missing out on an opportunity to engage your audience and are also at risk for being viewed as irrelevant. But being on every platform under the sun isn’t a smart strategy either. The key is to find where your audience is and build a social presence there.
5. Email marketing = sending out company eNewsletters
For many B2B companies, email marketing equates to little more than sending out the occasional eNewsetter or “blast” to their entire list of contacts. The problem with this approach is that it’s very unlikely that the eNewsletter is relevant to the entire list. And if your emails are consistently irrelevant to your contacts, they’re likely to grow accustomed to ignoring your emails altogether, leading to a high rate of unsubscribes. Outside of a handful of industries (e.g. technology), many B2B companies have not fully realized the power and potential of “real” email marketing.
Email marketing done right remains a powerful way to connect and engage with prospects and customers alike. But companies have to stop blasting and start segmenting, creating specific email messages and campaigns that target certain groups of your lists. This ensures that the emails you send contacts will contain relevant information they’re actually interested in reading. List segmentation will make your messages much more personal and relevant, which will boost your open rate and click-throughs—ultimately leading to higher conversion rates.
6. Marketing’s work is done once the sale is made
Another myth that seems to permeate B2B is that marketing’s job is over once a lead converts to a client. For many firms—especially services firms—marketing’s usefulness is seen as support for sales and business development efforts, with a particular eye on the buying cycle. And while marketing’s focus on attracting and nurturing new business leads is paramount, failing to address the entire client lifecycle is missing half of marketing’s purpose.
For many firms, existing clients represent a substantial portion of their overall revenue AND future pipeline. So the end goal of your marketing should not be just to turn prospects into clients; the end goal should be to turn prospects and clients alike into evangelists. In order to do that, your marketing strategy should specifically address the messaging, content and tactics needed to both nurture and engage.
There are many other myths that exist in B2B marketing, but these are some of the top ones that make our list. What did we miss? Feel free to add to the conversation in the comments below.