Business-to-Business (B2B) marketing encompasses activities related to marketing of products and services to enterprises, intended to propel the growth. Such kind of marketing strategy gets cracking through web portals. The business is at the heart of online B2B marketing and thereby zeroes in on products and services, meant to grease the skids for smooth operations of the business as opposed to B2C marketing, wherein customer is central to the marketing activities.
Here are 8 biggest B2B Marketing Challenges:
Lack of Blueprint
A good number of organizations are on the horns of a dilemma by virtue of media fragmentation, channel diversification, and traditional marketing activities that no longer hold the field. As a result, they are grasping at straws to accomplish the marketing objectives they have laid out. Such a situation reflects the fact that the organizations are on a journey towards the dead end. The lack of clear vision or strategy leads to the iteration of similar patterns in the hope that these may eventually bear the fruits. For instance, the same ‘batch and blast’ email program is employed in order to improve the open rates, which of course, does not come off. Further, the lack of common purpose aggravates into reduced marketing productivity, efficiency, and performance.
Channel diversification has triggered the execution of different operations that fall behind on the commonality of goal. Diverse marketing avenues such as SEO, SEM, online media, and website are not strung together, and thereby, communication mechanism as a whole falls out of alignment. As a result, the system lags behind on the yardstick of effect that would have been greater if the elements were in sync.
Marshalling of Resources
With more number of organizations running the gamut that ranges over extensive activities, the need for value, resource, and prioritization take the precedence over other parameters. Without a strategy to work towards and patchy reporting, you come in the face of indecision related to marshaling of resources, available at your disposal.
Marketing and Sales Alignment
Integration between marketing and sales has become considerably better in the recent times but still carries a chink in the armor. This manifests with the fact that less than half of the B2B companies believe that they are aligned with marketing activity that falls in line with their needs of sales.
The growing significance of content marketing has coincided with the maintenance of consistency and quality across materials and markets becoming a challenging proposition to conquer. As a result, the lack of coordinated and common approach has paved the way for confusing and diluted messaging without getting down to brass tacks.
Data Management Woes
A good number of businesses find themselves in dire straits when it comes to data management and usage. Most of the companies attribute it to dearth of right systems and tools in place such as web analytics, marketing automation, and CRM. This holds hint to the fact that these organizations are not wielding their strategies in keeping with the requirements critical to their business prospects and are following a general approach.
Gravity of the Competition
With buyers making decisions in their own sweet time, catching up with competitors off the chart is of paramount significance for businesses. As far as B2B marketers are concerned, branding is an indispensable necessity to accomplish this. Still further, a large number of organizations feel dissatisfied with their efforts to differentiate on brand. Also, there exists a dilemma towards a wide array of marketing channels as to which one should be employed for brand awareness to enhance differentiation.
Engaging the Right People
In order to notch up the desired success, marketers should reel the stakeholders in when it comes to buying decisions. The intricacies of the relationship manifest with over four-fifth of the B2B purchases involving multiple decision makers. Communicating the right information to the right people comes across as a major issue.
In the end, it is worth concluding that keeping these aforementioned 8 biggest B2B marketing challenges into consideration, a business should lay out the strategies and set its goals.
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