The B2B marketing landscape has evolved in recent years to be completely digitized. As the world is in the grip of a pandemic, there have never been better reasons to use reliable B2B Martech software than the current lockdown period to drive innovation and support B2B business strategy.
Innovation is central to sweeten the things even further with regards to your business during the times of the pandemic wherein, the use of modern B2B Martech software can ensure that you can meet the expectations of your stakeholders and ensure sustainable business profitability.
According to Emailmonday, on an average 51% of the companies are using marketing automation and about 58% of the B2B companies are planning to embrace the technology.
According to the “Marketing Automation Technology Forecast, 2017 to 2023 (Global)” report by Forrester, marketing automation technology is expected to grow at a 14% compounded annual growth rate (CAGR) over the next 5 years.
In the present atmosphere, B2B associations are adjusting to an altogether online methodology. With no up close and personal meetings or gatherings and their employees working remotely, the use of B2B Martech software has an essential impact on ensuring the best outcomes for your businesses in terms of profitability and Return on Investment (ROI).
What is B2B Marketing Software
A report by Social Media Today shows that 75% of marketers currently use at least one type of marketing automation tool. Yet, another one by Walker Sands found that 88% of marketers use more than one Martech tool regularly.
Along these lines, in order for you to survive in the competitive marketplace and stay ahead of your competitors, planning a definitive Martech stack to help your methodology is imperative. Having understood the importance of the use of Martech software you need to invest in the right ones to support your business strategies and your teams with their multi-channel marketing endeavors.
In the times of the global pandemic and moving forward to a post-pandemic era pretty soon, you will need a business resiliency model to permit your teams to work from remote places. Investing in the right B2B Martech software will hence play a decisive role in future-proofing your business and ensuring sustained growth even amidst the harshest business environments.
Here are 7 benefits of using B2B Martech software that the enterprise tech companies can put to use to transform the way they have been marketing:
1. Gaining Insights About Your Target Audience
With the help of the B2B Martech software marketers can acquire valuable data pertaining to user behavior and gain requisite insights about the expectations and pain-points of their customers.
According to the House of Marketing “Yearly Marketing Survey 2019,” 48% of the marketers use marketing automation and it is one of the 4 most popular methods to create personalized customer experiences.
Using B2B Martech software you can understand your target audience better especially in the absence of meetings and events. Additionally, deploying the B2B Martech software allows the marketers to serve the potential buyers with more personalized experiences like the ones they get from customer brands.
The use of B2B Martech software, allows marketers to develop a more comprehensive customer insight strategy, one that properly addresses the pain-points and needs of their target audience groups.
Use of B2B Martech tools helps in gathering audience insights and improving personalization in the following ways:
- Using the B2B Martech tools marketers can thoroughly learn what their customers want
- The Martech software can help marketers conduct empathy interviews to understand the expectations of their customers
- With the help of the right B2B Martech tools marketers can visualize the users of their products or services in a natural setting
- The use of B2B Martech software allows marketers to monitor how customers purchase their products or services
- Marketers can understand and join the dots behind the buying behavior of their products or services, especially when prospects have expressed explicit interest in certain products or services previously in trade shows or by attending virtual meetings during the times of lockdown
- The marketers can gain an external perspective of their brands by interviewing the customers of their competitors. They can thus analyze what important services are they missing out on
Using B2B Martech software allows marketers to thoroughly understand their target audiences and telling them the right stories to address their pain points and show them the value proposition of your products or services. When you have enough knowledge about how your customers behave, you can provide them with seamless experiences across omnichannel and can better shape their view of your brand and its products or services.
This helps in building positive brand equity and retaining customer loyalty. Conveying customers the mission of your brand and uniting with them over common interests and the company’s mission can help you in building a culture of mutual reverence with your customers. This helps in building customer loyalty, customer acquisition, and retention and spreading positive word-of-mouth for bringing in more customers.
2. Automating Processes and Optimum utilization of the Marketing Resources
Using the B2B Martech software the marketers can make the optimum utilization of their resources to increase their productivity, maximize their resources, and optimize the time they have. With the help of B2B Martech software, the marketers can reduce the time spent on mundane and repetitive tasks and can reach out to the prospects at the right time with highly-personalized messages to optimize their experiences.
According to Thuiswinkel.org and Spotler “e-commerce marketing Trendrapport” (2019), 55% of the eCommerce marketers use email marketing automation software and another 25% plan to start its use in 2020.
Also automating the mundane tasks means that the marketing teams have more time to focus on core activities such as optimizing the marketing campaigns and researching the untapped opportunities for a particular set of products or services.
3. Reducing Errors
One of the most important benefits of the use of B2B Martech software is that it can help in reducing human errors through high-quality intelligence.
According to a report by Ponemon Institute for the year 2017, nearly 70 percent of compromised records which led to data breaches were the result of human error.
Using the B2B Martech software allows you to effectively manage your lead generation and content automation endeavors. Besides serving as a platform for data management, these tools also supplement your technological requirements and help in the smooth operationalization of technology by reducing the human err.
4. Improving Customer Experience and Personalization
With the help of the B2B Martech software, the marketers can provide seamless experiences to their prospective customers across omnichannel. By embracing the chatbots working on the principles of artificial intelligence and machine learning the marketers can provide their customers with the exact answers to the questions that they are seeking, and can also optimize the response time simultaneously.
A research by Harvard Business Review shows companies in the United States lose $1 trillion in annual revenues because they don’t provide as relevant experiences to their customers, as their competitors do.
With the help of the modern B2B Martech software companies can tag, gather, and using data pulled from omnichannel and can amass all the information they need to benefit from real-time targeting.
Thus, leveraging B2B Martech software allows marketers to indulge in simple and predictive and intuitive chats with their customers based on their diverse areas of interests across omnichannel.
Along with an array of B2B Martech software tools, the marketers can also try using customer insight tools such as YouTube Analytics, Google Analytics, and Social Mentions to optimize the personalized experiences being delivered to their customers and prospects.
With the help of the demographic, firmographic, technographic, psychographic, and the past browsing behaviors, and the research methodologies of the prospects, the modern B2B Martech software allows you to hyper-personalize the messages being delivered to your customers across omnichannel.
Leveraging automation, the marketers can offer hyper-personalized and tailored experiences to their customers, gained from better audience insights fetched from enhanced data points. As the relevance of marketing interactions increase, the likelihood of customer engagement and conversions are optimized.
5. Promoting Collaboration
With the help of the B2B Martech tools, the marketers can ensure better collaboration between their teams, whether cross-functional or otherwise. This helps them accomplish common business goals more efficiently.
According to a study by HubSpot, ‘tightly aligned’ organizations achieve a 24% faster three-year revenue growth and 27% faster three-year profit growth.
Marketers can work with modern B2B Martech software to bridge the gap between their marketing and sales endeavors.
6. Omnichannel Tracking & Measuring the Results
In order to identify your marketing strengths and weaknesses, tracking analytics across all channels is vital. With the help of the modern B2B, Martech software marketers can work on the coalescence of tracking across diverse platforms to build single, unified visibility for all the omnichannel marketing endeavors. The fragmentation right now is huge but with the increasing adoption of B2B Martech software, marketers will be able to close the gap.
“Everyone is trying to figure out how to track analytics across these platforms reliably,” says Jacqueline Basulto, CEO of SeedX. “It’s difficult to attribute the value of specific touchpoints when people see Facebook ads, Google ads, social media, email, content, etc. on their journey to becoming a customer.”
Most of the time, digital innovation begins with investigating the success of ongoing marketing campaigns. The modern B2B Martech software have in-built efficient mechanism for checking and estimating your outcomes. Settle for data-driven & information fuelled choices to improve your advertising approach and augment your ROI every time, particularly if your business is raising the stakes on outbound advertising. Deploying the appropriate B2B Martech software will help you make the most of each advertising message.
7. Improving the scalability of your brand and achieving business sustainability
Using the modern B2B Martech software allows your current business proceedings to continue effortlessly, and without any intervention, just as it provides you with an opportunity to develop, extend, and scale up your business endeavors.
“What we’re seeing is that it’s not tech-first, it’s experience-first,” says Dr. Joe Panepinto, senior vice president of group strategy for brand experience firm Jack Morton. “So it has to be an authentic integration of a technology into any audience experience. We see key tech advancements in four areas of experience: personalization, curation, immersion, responsiveness.”
Thus, marketers can deliver consistently good outcomes to their customers and empowers themselves to build opportunities and keep on moving and scaling your marketing endeavors to achieve sustainable growth – regardless of whether your resources are constrained.
To capitalize on the B2B Martech software you chose to meet your business requirements, it’s vital to comprehend how it aligns with your business strategy right from the beginning.
Simultaneously, you can evaluate your financial plan and marketing budget allocated from diverse advertising campaigns, and evaluate whether you have the appropriate apparatuses set up to completely comprehend, oversee, and appropriately use the software.
According to Margo Kahnrose, senior vice president of marketing for advertising platform Kenshoo, “Martech should make marketers’ lives easier, so most obviously, we’re all focused on honing and maximizing the capabilities of artificial intelligence and machine learning to do just that.”
Set clear goals, and ensure that the technology that you’re leveraging is making your life simpler, not increasingly troublesome. Select tools that can be easily integrated with each other and provide seamless experiences to the customers, deliver a basic, predictive, and instinctive customer experience, and have an easy and steady onboarding process.
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