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When planning your B2B marketing strategy, the importance of knowing your audience cannot be understated – offering accessible brand position, what you stand for, and stories at any time. These days, your customer wants to know who you are beyond your products and services.
With smaller markets to connect with across Australia and New Zealand, this can be both a blessing and a curse – however your ideal target customer, if spoken to directly, will begin to understand exactly how you can fill their needs.
One of the best ways to demonstrate an understanding of your B2B industry audience is how you structure your marketing funnel strategy. A marketing funnel is a system for guiding potential customers through the buying process, from awareness to purchase. A well-designed B2B marketing funnel can help you increase brand awareness, generate leads, and close more deals.
We’re also interested in showcasing how incentive and rewards programs Australia and New Zealand-wide can assist with the creation, implementation, and success of your B2B marketing funnel. We’ve laid out the details and advantages of how B2B loyalty programs can support a B2B Marketing Funnel in these processes.
Before building your own marketing funnel, it’s important to properly grasp what a B2B marketing funnel is and what it can do for your business.
A B2B marketing funnel is a series of steps taken by the business to attract specifically targeted leads to a website or store. The main purpose of this marketing funnel is to build brand awareness through the ability to educate potential customers, increase customer loyalty and convert a potential customer into a qualified lead.
The marketing funnel, when laid out, will establish the customer journey, and outline the B2B marketing activities that businesses across Australia and New Zealand will need to carry out at each stage of the funnel.
It’s integral to understand the importance of this as a B2B marketer because, while a B2B marketing funnel may take longer to cycle through than a sales cycle, it is a more sustainable process long term. It will also help you segment the customer’s journey and customer experience by personalizing your relevant content based on where each customer currently sits in the buyer journey, resulting in more consistent sales success.
Now that you get what a B2B marketing funnel is and the importance it holds to both a sales team and marketing team, you may be asking about what advantages it holds to implement one for your customer journey. We have highlighted a few of the key benefits below:
These advantages go hand-in-hand with the creation of a B2B loyalty program and will be supplemented by the program itself. Your loyalty program benefits create engagement and loyalty from your customer base, as they will relate to your brand from meeting the requirements of continued purchases.
The B2B sales process generally has longer sales cycles, as more decision-makers are involved in the buying process. By being aware of the lifecycle of the process, you can provide the right information at the right time, leading to a longer customer relationship, as a successful product on the first attempt can provide you with a customer for the lifetime of the business.
We can create self-funded programs, maximizing your ROI. The data that you gather from your audience when having them sign up to your incentive program can also assist with building a greater understanding of your audience, which will then allow more effective search engine optimisation.
These are only some of the benefits that a B2B loyalty program can provide your business, but it’s clear that it aligns smoothly with the purposes of creation of a B2B marketing funnel and sales funnel.
So, if you’re still reading, you’re clearly hooked on the idea of building a marketing funnel of your own – after all, why wouldn’t you? The next step is building your understanding of what the three stages of a marketing funnel are:
Your B2B loyalty program can greatly assist at this stage of your marketing funnel. By using the program platform, you can incentivise your audience to provide their details when signing up, which allows you to gain further insight into your customers and communicate with them regularly to ensure your product stays front of mind, while also providing them with further incentive around continued business with your brand. This is just one of the B2B retention strategies offered by the creation of a B2B loyalty program, and how it can supplement the effectiveness of your B2B marketing funnel.
4. Track your results. It’s important to track the results of your marketing strategy so you can see what’s working and what’s not. This will help you make adjustments to your marketing strategy as needed. There are a number of different tools available to help you track your marketing results, such as Google Analytics and HubSpot CRM. In terms of strategy, we can help with the strategy for your B2B reward or loyalty program, which as we’ve shown, shares many overlapping components with your B2B marketing funnel and sales funnel.
Here are some additional tips for creating a successful B2B marketing funnel:
Here are some additional terms that are related to B2B marketing funnels:
By following these tips, you can create a B2B marketing funnel that will help you achieve your business goals. However, understanding the process is only half the battle. Since 1996, we’ve been helping B2B businesses build strategy in reward and incentive programs targeting their desired audiences. Get in touch with us today to find out what we can do for your brand!
Digital marketing allows you to soft launch your product to your desired audience. By using hashtags and social media, it allows your customer to begin to build knowledge around their issue, and lets your brand better inform them prior to them deciding on the sales process.
The marketing funnel assist with optimizing the sales cycle by providing more information on prospective buyers, leading to more successful sales. By increase brand awareness and products earlier in the sales cycle, your marketing teams will function as part of the sales pipeline through paid media and Google ads.
The B2B sales funnel and marketing funnel share some overlap at first glance, but actually complement each other! The marketing funnel will provide more information for your B2B sales funnels and sales team, including lead generation through the intent stage. This allows for your customer relationship management to be more personalised through the sales teams and their B2B sales funnel, potentially increasing the customer lifetime value by aligning prospective buyers with the brand.
Unlike the B2B sales funnel, the marketing funnel will take place earlier in the conversation piece and provide more information to the customer, allowing them to feel more comfortable with your brand. By taking place earlier in the customer lifetime, this will raise awareness of your brand, and influences the purchasing decisions in the next stage. Simple tools such as a marketing campaign on your landing page or social media ads turn potential customers into existing customers – marketing teams, don’t sleep on the benefits of the marketing funnel!
The entire marketing process is involved in building a B2B marketing funnel! Content marketing across your social media platforms, an online store or educational content on your website landing pages are all valuable tools in establish thought leadership. These will create a unique value proposition that will influence the purchase decision and turn leads from lead generation into paying customers!
A B2B loyalty program will go hand-in-hand with a lot of the stages of your marketing funnel and sales funnel, but the advantages of sharing them generally come in later in the funnel’s cycle. Your loyalty program provides you with data insights through customer sign-ups, retention of customers across a longer lifetime of purchases, the ability to better communicate with your audience after they’ve made a purchase which will secure an ongoing customer relationship. Forget about the value of card reward programs, your B2B loyalty program can provide your brand with strong incentives directly to your customers.