93% of B2B marketers use social media, and with good reason—it works (source). A 2014 study revealed that the ten most socially connected brands saw 31% greater revenue growth than the least connected brands. The same study showed that B2B decision makers are 10% more likely to consider brands that consumers know and feel connected to (source).
We haven’t been shy about touting the benefits of social media in B2B sales and marketing. However, if used incorrectly, social media can pose a legitimate threat to B2B companies both big and small.
Take a look at your current strategy to see if you’re guilty of these common social media mistakes:
You’ve probably already heard the buzz about social selling. Proponents note that 84% of C-level/vice president executives use social media to support purchase decisions (source: IDC). In addition, social sellers realize a 66% greater quota attainment than those using traditional prospecting methods (source: Sales Benchmark Index).
Still not convinced it should have a place in your sales process? Continue reading to learn how social media can shorten your sales cycle.
B2B marketing departments tend to focus on customer acquisition rather than existing customers. Yet studies show, it’s retention that has the greatest impact on a company’s bottom line.
Did you know, it costs 7 times more to obtain a new customer than to retain an existing one (source)? Or that, by increasing retention by just 5% you can increase your profit by 25-95% (source)?
Retention is an inexpensive and effective way to achieve big results. If marketing teams work with product and customer service departments to focus on current customers, the entire company will profit.
Here are 4 ways marketing can improve customer retention:
The traditional B2B growth model relies on marketing to generate and nurture leads throughout the buying cycle. However, the sales funnel has evolved. Today, customers have unprecedented access to information about products and services, causing buying habits to change.
Enter Account-Based Marketing (ABM). ABM has taken the conventional sales funnel and flipped it on its head. Rather than focusing on people, this new approach aligns sales and marketing departments behind a common goal—acquiring key accounts.
Here are some important benefits of ABM:
B2B sales leaders are constantly looking for tools and technologies that offer insight into their team’s productivity—tools also known as Sales Force Automation (SFA). The problem is that SFA, particularly CRMs, only facilitate measurement, rather than the sales process itself.
This is not to say reporting and measurement isn’t paramount to achieving company growth; it absolutely is. But think of it this way: if given then choice, would you rather have a working furnace this winter or a thermometer that tells you the temperature? Gas in your car or an instant MPG reader to tell you about the car’s fuel economy?
The point is, the best sales stacks empower execution just as much as performance measurement. With all that said, let’s examine a framework for building a better B2B sales stack.
The success of a B2B organization is often dependent on the quantity and quality of leads it has access to. As a result, sales and marketing professionals are constantly looking for new ways to improve their lead generation strategies. In fact, 68% of B2B marketers rank “generating high-quality leads” as their top priority for this year (source).
Yet, despite the exponential growth of social media in the past five years, B2B companies remain skeptical of its effectiveness as a lead generation tool. If this sounds like you, it’s time to put your reservations aside. Here’s why:
- Of those who use the internet, 76% of Americans use social media (source)
- In as little as six hours a week, 66% of marketers see lead generation benefits with social media (source)
- Social media has a 100% higher lead-to-close rate than outbound marketing (source)
- Social media lead conversion rates are 13% higher than the average lead conversion rate (source)
Lead generation through social media is quick, cost-effective, and relatively easy to implement. Want to turn your social media presence into a B2B lead generation machine? Check out our top 7 tips below.
The end of the year is almost here, which means it’s crunch time for B2B sales professionals. The question is, are you going to hit your quota, exceed expectations, or fall short? If it’s looking like the third option, don’t give up just yet.
With B2B data, you can improve your prospecting and reach more of the right buyers.
Continue reading to learn about 3 ways to use data for B2B sales outreach:
Every B2B sales rep wants to be more productive, so they can hit their quota that much faster. But when asked how to best accomplish this goal, many seem to be at a loss.
This should come as no surprise, given the number of misconceptions still exist about sales productivity today. Let’s dispel them once and for all.
Continue reading to learn about the top 4 sales productivity myths, debunked:
In a 2010 blog post, ZoomInfo covered the importance of social media in the business world. At the time, LinkedIn only had 64 million users (compared to the 467 million users today), Twitter had just introduced promoted tweets, and Instagram was brand new. Yet, analysts were already predicting the vast influence social media would come to have on B2B sales and marketing.
And they were not wrong.
Fast forward six years and 93% of B2B organizations are active on social media. In fact, the average B2B company is on 6 different social media channels (source).
In today’s post, we answer the same questions we asked six years ago to see how social media has evolved.
Account-based marketing (ABM) just had its hype year.
But as Forrester Research explains, companies need to be prudent in how they budget and forecast for ABM. “As a growing hoard of products, partnerships, events, and associations jump into this market with gold-rush-like intensity, B2B marketers are in danger of falling for the fool’s gold of unrealistic revenue windfalls and investment returns” (source: Vendor Landscape: Account-Based Marketing, Q4 2016).
So, what sort of investments does your company need to consider while developing an ABM strategy? Let’s review: