B2B Marketing Strategy
The actionable marketing strategy you need for short term wins and long term growth.
Take a Strategy First Approach to Your B2B Marketing
Creating your actionable marketing strategy is the first step in our B2B Marketing Process.
When you work with New Initiatives Marketing, you don’t just gain an immediate B2B Fractional CMO and Marketing Team, you access our proven B2B Marketing Process, which is the result of NIM’s many years of experience leading marketing for complex B2B organizations. This process is specifically designed for mid-market B2B firms that have a strong sales or channel partner process in place, but have done limited or ad-hoc marketing to this point.
The first step in this process is creating your B2B Marketing Strategy. Now, if this is conjuring up thoughts of a huge document encased in a plastic binder collecting dust on a shelf, think again. At NIM, your Fractional CMO has worked in B2B organizations before, which means they know the difference between a pretty report with a fluffy logo and color palette recommendations - and an actionable marketing strategy that is ready to implement and support your sales and business goals.
So what does “marketing strategy” mean exactly? We find that there are so many definitions out there that most B2B CEOs are left feeling confused over what a marketing strategy really is, how it works in the real world, and why it’s important.
At NIM, our Fractional CMOs know just how important marketing strategy really is, and we want you to know too. So here is an overview of exactly what we do when it comes to creating your marketing strategy, how it might be different than some other approaches you’ve experienced, and why we believe it will positively change the course of your business, as it has for our past clients:
We take a strategy-first and client-centric approach to B2B marketing.
- Strategy first means that we don’t just guess when it comes to recommending the right positioning to set you apart from the competition, or the marketing tactics to increase leads and conversions. We base our recommendations on research, data and a thorough review of your business & marketplace.
- Client-centric means we don’t base our recommendations on internal assumptions within the business and talking to senior leadership alone. Instead we take an outside-in approach and interview your clients and partners to better understand their customer journey, the marketing and sales tactics that worked for them, why they chose you and continue to choose you, and what they think makes you different and sets you apart.
Ten out of 10 times the results of our client interviews have a dramatic and positive impact for our B2B CEOs - not only in terms of marketing & positioning - but across their business.
OUR B2B MARKETING STRATEGY PROCESS:
Deep Dive Research & Review:
We don’t make any assumptions when it comes to your marketing strategy. We get up to speed quickly on your products, clients, marketing and marketplace with a deep review process, including:
- Client, partner, and internal team interviews
- Competitive review and market research
- Product and services review
- Marketing and Total Online Presence audit (including your entire customer journey from lead generation through to sales, customer success and referrals)
Quick Wins Recommendations:
You don’t have to wait until your entire strategy is implemented and up and running to see results.
Early in the strategy process (following the client interviews) we are able to recommend some quick changes to your marketing that we can implement right away to start getting immediate results.
This often includes:
- Quick messaging, positioning or content changes that improve lead acquisition.
- Quick fixes to your marketing and sales system that increases conversions
Presentation 1 - Initial Strategy Insights:
Following our deep review process, including the client and team interviews, we’ll meet and present our findings, insights and recommended direction for your marketing strategy. This is a time for us to have discussions and get alignment around the strategy at a high level. Our recommendations will include:
- Your true core difference and positioning (based on what your clients told us), along with any copy, messaging, and branding changes to bring this to life and to make the competition irrelevant in your potential clients’ minds.
- An outline of your step-by-step customer journey (based on how your clients told us they take action), including your buyer personas and any educational/marketing/sales-enablement materials to help move them along the journey.
- The best outbound and inbound marketing tactics and campaigns to increase awareness and bring in more leads - based on the unique needs of your organization.
Presentation 2 - Final Strategy:
Following our initial presentation meeting, we’ll begin creating a detailed action plan around how to implement and execute on your strategy. This will include:
- Detail on how to bring your customer journey to life in the real world as a powerful marketing conversion system and any changes to your current website, materials, and technology needed to make this happen.
- An outline of your 12 month Thought Leadership program and content plan to position your firm and teams as experts, and set the stage for a consistent stream of inbound leads.
- A detailed action plan for all of our recommended lead generation and conversion activities.
B2B MARKETING STRATEGY 101 for CEOs
We’ve curated a list of the most commonly asked questions around B2B Marketing Strategy to guide B2B CEOs in more thoroughly understanding this ever changing topic and why it’s essential to setting the stage for long-term growth.
What is a B2B Marketing Strategy?
A B2B marketing strategy is a comprehensive plan that outlines how a business will reach and engage its target audience to achieve specific marketing goals.
It involves defining the target audience, developing messaging and positioning, selecting marketing channels, creating content, and measuring results.
Why is a B2B marketing strategy essential for mid-market companies?
In today's competitive business landscape, a well-crafted B2B marketing strategy is crucial for mid-market companies looking to grow and succeed. Unlike consumer-focused companies, B2B firms face unique challenges, such as longer sales cycles, complex or technical products and services, and large buying committees made up of multiple stakeholders.
A strategic B2B marketing approach allows companies to better understand their target audience, create more effective messaging, stand out in a crowded market, connect with the right buyers at the right time, and ultimately provides a clear roadmap for achieving marketing goals and driving revenue growth.
How Does a Well-Defined Marketing Strategy Contribute to Business Growth?
An effective B2B marketing strategy serves as the backbone of your business growth. It enables you to identify your target audience, understand their needs, and create a roadmap for reaching them effectively.
It helps you align your sales and marketing efforts, so you're not just casting a wide net, but you're precisely targeting the businesses that need your solutions the most. A well-defined strategy also allows you to measure your efforts, adapt your tactics, and ultimately drive more profitable customer action.
What Are the Key Components of a Successful B2B Marketing Strategy?
A successful B2B marketing strategy is composed of several key elements:
- Customer Understanding: Identifying and understanding your target audience's needs, wants, and pain points.
Value Proposition: Clearly defining what sets you apart from your competitors and how you provide value to your customers. - Marketing Channels: Identifying the most effective ways to reach and communicate with your target audience.
- Sales Enablement: Ensuring your sales team has the tools, resources, and information they need to convert leads into customers.
- Measurement and Analysis: Regularly reviewing and adjusting your strategy based on performance data and feedback.
What are the risks of not having a B2B marketing strategy?
The risks of not having a B2B marketing strategy include wasting resources on ineffective marketing activities, missing out on opportunities to reach the target audience, losing market share to competitors, and struggling to achieve revenue and growth goals.
Two other common risks are remaning a ‘best kept secret” and always competing on price despite knowing you have a better product or service - you struggle to get your customers/clients to see your difference.
Without a strategy, businesses may waste resources on ineffective marketing activities, struggle to reach their target audience, and miss out on opportunities to differentiate themselves from competitors.
Get The Deep Insights You Need to Create the Right Actionable B2B Marketing Plan for Your Business Today