How can B2B companies thrive in times of Coronavirus?

How can B2B companies thrive in times of Coronavirus?

Reading time: 4 minutes.

Although the number of companies already taking advantage of the benefits of digital marketing and technology is growing every day, there are others that still retain their traditional methods of promoting their products or services. But did you know that the majority of face-to-face purchases are influenced by online campaigns or content? So says Google with respect to B2B companies:

  • Industrial manufacturers (73 %).
  • Industrial suppliers (82 %).
  • Packing and shipping of supplies (78 %)

That's not all. An estimate by CMS Connected indicated that by 2020 the online marketplace for B2B is expected to exceed the size of B2C; now imagine the impact that the arrival of Coronavirus has on this reality, especially when so many companies are leaning towards online transactions that decrease physical contact and reduce the risk of contagion.

Under this scenario, it is essential that companies not only have a digital support that allows their customers to have a first approach to their products and services, and their benefits, but also implement e-commerce strategies B2B become a decisive factor to survive in times of crisis.

These are some of the actions to follow so that your company can take advantage of the opportunities that online strategies provide in the midst of the crisis:

The content strategy must be the focus

The time people spend in front of their phone or computer screens tends to be greater during the quarantine period, so creating a relevant content strategy will increase your brand awareness and strengthen ties with your target audience.

According to the Content Marketing Institute, 63% of companies do not have a defined content strategy, which makes it virtually impossible to achieve objectives, evaluate and further optimize the marketing plan.

Depending on the requirements and nature of the business, the strategies may vary, but basically it is recommended to make an intelligent selection of communication channels according to the ones that your ideal clients use the most, to keep social networks active, to create videos and webinars, to focus on SEO optimization, among others.

Feed the sales pipeline

The results of the sales pipeline or funnel at this time may vary slightly, abruptly or not at all, depending always on the nature of each company and the services it offers.

For example, a software service and technology solutions company may be increasing its pipeline, while a real estate company may be seeing a significant decrease in prospects interested in its services.

Regardless of the case, it is important that your company does NOT stop generating leads under any circumstances, especially considering sales cycles that last more than 3 months. Following your defined online lead strategy is vital in order to start the lead maturation process now, so that these potential customers are ready to make the decision when we return to "normal".

>>Do you really have qualified leads?

In addition to that, according to Forbes, within e-commerce strategies, B2B companies today need to have their service portfolios online so that they can be searched by keywords, have a web portal designed so that customers can create their own account and request orders or quotes directly, have volume price comparison functions, set up orders and always be able to get in touch even after business hours.

101 sales qualification questions
that you should implement.

The online pattern is the key

You've probably wondered if it's really convenient to continue paying out during the crisis. Thoughts like "nobody cares", "nobody will see it", "nobody is advertising" or "it's money lost" are very common, but not necessarily accurate.

In fact, according to the Institute of Strategic Planning in Cambridge, MA, a recession is an opportunity for companies to develop greater market share through well-targeted advertising. Therefore, companies that reduce advertising expenditures suffer loss of market share in the future, while companies that stay on track can achieve profits without reducing short-term profitability.

A clear example: during the American recession of the 80s, McGraw-Hill Research studied 600 companies and their advertising policies from 1980 to 1985, and the results were surprising: those B2B businesses that maintained or increased their pattern significantly increased their sales during the recession and the following 3 years; compared to those that stopped this investment. By 1985, the sales of those companies that consistently advertised had increased by 256% over those that did not.

An action to start with: webinars

There are countless strategies for generating leads, however, we want to focus on one that has become very effective. Webinars have become a powerful tool to give value to your ideal customers without them feeling a direct sales intention.

While they receive relevant and applicable content in their business, if the strategy is effective, your company will receive interested in your services in the future, with a maturation process, or even immediate sales.

Neil Patel says that only on the event subscription page you can get between 5 and 15% conversion, while during the development of the webinar you can get between 35 and 45% of the total attendance.

If the goal of your webinar is to sell a product or service, you must first determine who will buy. That means you must know exactly who you want to attend your webinar. To clearly define your audience, you must have your ideal buyer or customer very well defined.

This will be the only way to address the pain and frustration of your target market and offer your service as the solution and be highly effective.

The webinar will also work to generate awareness with customers who do not know your company or your services to turn them into potential buyers and follow them up until the sale is closed.

>>Webinars were important, now they are a critical sales tool

John F. Kennedy recommended: "in the crisis, be aware of the danger, but recognize the opportunity. If you are ready to implement the strategies that allow your company to continue generating results despite the crisis, then contact our team.