Did you know who the first person ever to do Digital Marketing was? It was Guglielmo Marconi; yes, the man who invented the Radio. There is said to be an episode where Marconi announced a wrestling match to be held on the radio in 1909 and a lot of tickets were sold just for the hype of it.
Since then, digital marketing has nothing but evolved and so have the consumers’ expectations and today it has become the prominent way to create awareness about a brand, sell a product or drive attention to the brand. Digital marketing has become more than just a buzzword, especially in this decade. Jeff Bezos in one of his interviews said: "If you're not on the internet, you're nobody to this world." I guess it is now safe enough to say that Traditional Marketing is almost extinct due to Digital Marketing.
There is no denying the fact that whatever the business is, they are all tied with one common goal – to improve ROI (Return on Investment). ROI benefits the investor as well as the firm, it also helps in analysing the efficiency of investment. Digital marketing for B2B has always been overlooked, maybe because of the unique set of audience, quantity and quality of the products, but only the experts know that digital marketing for B2B can work wonders. In the current market scenario, Digital marketing comes as a blessing to improve the overall ROI of the company. Digital Marketing in 2020 is about to evolve much more than expectations and beyond boundaries.
So, it is absolutely necessary to put up your “A game” in terms of Digital Marketing to go past your competitors, grab the attention of your customers and potential customers so that you improve ROI. Now, let us jump right into the topic on “How to improve ROI for B2B by Digital Marketing in 2020” and throw some light on securing a stable ROI.
1. Website – Website is a very basic tool that ensures your presence online. You might be into selling products, leasing out co-working spaces or building houses; people would like to know what you are all about, how long have you been in the market and how good is your work. Everything can be capsulated into one entity called Website. Website is basically your home online. It becomes the first step into digital marketing for B2B.
2. Social Media – Second comes social media. Your customers and potential customers are everywhere and so should be you. People need to be constantly reminded by you of what you are up to, what are offers coming up or even as basic as festival wishes. Your presence on social media tells your existing customers to pass on the word about you to their friends and family; or as digital marketing experts would call it “make them your evangelist.” Word of mouth is such an important factor when it comes to B2B firms, as the trust is quick and deep
3. Email/SMS Marketing – Email and SMS are a much-personalised way to draw attention to your brand. It is just like creating a web of customers with just one action. Email and SMS marketing is such a crucial method to address a large number of audience, and one of the efficient methods in B2B as almost everyone has an email id, phone number and the open rates are way higher. The more informed you are about your audience interests and demands, the more ROI improves; and what better way to do it than sending them a personalised notification? Emails and SMS have been all along but it has never been put to better use than after the evolution of Digital marketing. It will be a very handy tool to use in Digital Marketing in 2020.
4. Content Marketing – It is a well-known fact that customers are so gullible to attractive content irrespective of the industry. Content of all forms are consumed by today's audience; infographics, blogs and videos and it takes a lot of effort and time to create great content, but when it is done right, you draw a huge positive Return on Investment. Bet you, digital marketing in 2020 is going to be all about content marketing in a much-enhanced way.
5. Video Marketing – Another form of content is video, and apparently it is the most consumed form of content on the internet. Be it explanatory videos or how we do it video or even a testimonial video; they all attract a huge number of eyes towards your brand. Video content about a B2B firm could go a long way. We have observed that a video reaches 4 times more audience than a photo does. Again, it is a crucial method that needs to be handled wisely to yield a good Return on investment. And many digital marketing agencies have started to recruit AV specialist to enhance their performance in Digital marketing in 2020.
6. Advertisements The boundaries of Advertisements have truly expanded in the last decade or so, haven’t they? Nowadays, even Outdoor Advertising has turned digital with electronic billboards and flip advertising. If your brand needs recognition, you are highly recommended to convey people what is that exactly you do. And when you can track the number of people reached, the number of heads turned, the number of actions taken from your ads through digital advertisements, why go elsewhere?
7. Focus on a niche – You might be a brand selling variety of products starting from millimetre-sized screws to million dollars' worth machinery, but you should exactly know the product that yields you maximum Return on Investment and is known just for that and all the other products sell around the focused product.
8. Never Stop Promoting – Do you know why Coca-Cola has partnered with so many Food & Beverages companies? Because they don't want to be forgotten. Yes, you heard it right. Even popular brands can be forgotten if enough promotion isn't done. If you don't promote your brand, nobody else will. But again, when you can track your promotions' performance online, why do it offline?
9. Never Stop Updating – Evolvement is an essential feature of any business. Your customers are waiting for you to evolve. Be it as small as, quicker delivery or extended warranty period, but do evolve. Evolvement almost always ensures improvement in Return on Investment.
10. Measure your ROI – It is as important to keep a note of how successful and fruitful your campaign has been as to run the campaign. In the case of traditional marketing, it might take a couple of months or so. But in digital marketing, this time frame could be brought down to days.
So, as to conclude, digital marketing is an ever-evolving platform and can yield results in any industry; B2B Digital Marketing is no different. Digital marketing in 2020 is going to evolve is all the aspects we have mentioned above. And to improve ROI, you have to keep in line with them and more. Macaw Digital works along the goals of your company to help you include Digital Marketing in your Marketing Strategies.