B2B organizations often fail to execute online growth plans due to lack of details, direction, and substance, but there’s a way that they can overcome this challenge.
Organizations must address the needs of their buyers, and strike a balance between self-service ecommerce and purchases supported by an experienced salesforce.
But B2B organizations often fail at executing such plans, not necessarily because their goals are out of reach, but more likely because they lack such details as identifying those individuals that are responsible for specific tasks, and researching best practices that successful online businesses have deployed.
Measuring marketing’s contribution to revenue should be a function of customer acquisition and overall installed base expansion.
It was found that 77% of global B2B marketing decision-makers say that lacking the ability to measure results was their topmost marketing concern. B2B businesses need to innovate in a way that helps customers and drives sales.
Therefore, identifying and focusing on a smaller number of big ideas that are culturally cool, technology elegant, and offering a perceived fair business model are what businesses need to sustain themselves.
Modern innovation is more about the elegant integration of well-known things than the invention of new things. We will discuss the most basic integrations that have a significant impact on organizational gains.
Understand cross-channel behaviors: One desired outcome is to quantify the financial contribution of each marketing program and add the ability to model future changes that can improve performance.
Work towards creating a single 360-degree view of customer interactions throughout their lifetime, keeping a record of the impact of campaigns on creating audience or demand, and maintaining the relationship of individual decision-makers to the account as a whole.
Deploy dashboards that visualize facts and follow the buyer’s journey: Business
owners must reflect upon secure and verified data to interpret what they reveal about campaign performance and how buyers want to buy.
Rather than relying on static reports that become dated quickly, move marketing metrics into secure dashboards that operate in near real-time while keeping pace with changing buyer interactions and purchase intentions.
A tip on the house: One helpful approach is to maintain records of customer purchasing history across online and offline channels in a single online data source, allowing sales reps as well as customers to quickly access records of past purchases and check current order status; another is training sales reps to use that information on mobile devices along with their product knowledge to advise customers while also encouraging customers to place more of their basic orders and reorders online.
Source: B2B Metrics
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