2020 may have been a rough year for all of us, but technology companies did a great job at continuing the business even through the peak of the pandemic.
2020 was the year when technology companies looked beyond networking at events or getting recommendations from someone and embraced B2B marketing willingly. According to a LinkedIn report, 76% of marketers were compelled to change their key objectives to align with the current situation.
As an agency that has supported B2B-focused mid-sized technology companies in establishing themselves as thought leaders of their industry for the last ten years, we believe that now is the right time to invest time and efforts into B2B marketing.
When it comes to B2B marketing, let’s take a look at some of the unique challenges of mid-sized technology companies, especially those which are just starting with their marketing efforts.
- Don’t have big budgets for ads: It is natural to do paid ads to get more leads. While it might work for B2C, it might not necessarily work well for B2B companies. A mid-sized company may have a limited budget, while a single ad campaign could cost the company $1000-$2000 per month for ads. The returns are low too, with the CTR being as low as 3.10%. Even those clicks may not necessarily convert as the sales cycle in B2B is longer than B2C. That apart, unless the company has first established a strong online presence, spending on ads would not lead to any benefits. Hence, they need to think of alternatives to get more leads.
- Creating multiple content formats is not always possible: It is tempting to create various content formats to gain diversified traffic. However, companies must remember creating multiple formats such as videos and podcasts can be time-consuming, expensive, and require people with specific skillsets. Companies that are just starting with their online marketing efforts need to prioritize where they want to spend their energies.
- They need focused marketing efforts: Mid-sized companies need to start with specific marketing goals, so that they can focus their marketing efforts on achieving them instead of trying everything and seeing no results in the end.
- Marketing needs to support sales efforts: Marketing and sales can no longer work in silos – especially for B2B companies. They have to help each other to drive business and revenue growth. 57% of companies believe that collaboration between marketing and sales will advance marketing’s contribution to sales success and generate more ROI.
- CXO’s personal network plays a critical role: A CXO of a mid-sized technology company would have a strong network with other C-level executives of other companies. They can tap on this gold mine by posting their views and news on social media and interacting with other peers actively. Building a personal brand is imperative for creating a positive impact.
- Marketing needs to be a self-running effort: With limited bandwidth, time, and budget, mid-sized technology companies may face challenges in running campaigns and achieving marketing goals. They need to, therefore, focus on creating a self-sustainable marketing plan that can run with minimal effort and resources.
Now that we have set the ground rules, let’s look at the actionable trends that mid-sized technology companies can implement easily.
B2B Marketing Trends in 2021 For Mid-sized Technology Companies
80% of decision-makers prefer to get information from an article instead of an ad.
Hence, technology companies must focus on developing high-value content such as whitepapers, eBooks, and blogs. Cover topics such as the latest trends and industry news with unique take from experts, solution-specific content that addresses the company’s pain points, principal content such as prominent use cases or latest product updates, etc. Whitepapers are also a great way to launch email campaigns.
While creating high-value, evidence-based, and research-backed content is important, it is also equally important to create content regularly. Developing a content calendar and planning content distribution is the best way to ensure that content is published periodically. Publishing regularly will help the company to create brand awareness and also increase organic traffic to the website over a period. Ensure that there is content available at every stage of the customer journey such as attraction, consideration, and conversion, so the decision-makers are guided through the process.
Robust social media presence
According to the Harvard Business Review, 90% of C-level executives ignore cold outreach. So, those cold sales calls and emails will no longer help in generating leads.
Instead, marketers and the sales team must focus on social selling. 84% of C-level and VP-level customers use social media to make purchase decisions. Posting on social media regularly will help technology companies to create brand awareness, network with prospects in an organic manner, and humanize the brand. Some types of posts that work well on social media include – posts from C-level executives, trends and challenges related to the industry or target customers, regular product principal content updates, new releases or wins, etc.
Plan your blogging and social media posts using a social media calendar and regular schedule to strengthen its presence. Monitor its outcome regularly to know what works and what doesn’t and use those insights to create a solid social media strategy.
Webinars or live events on social media
Typically, technology companies leverage trade shows and industry conferences to network and get leads for their company. However, last year, it took a beating with most trade shows, exhibitions, and conferences getting canceled due to the pandemic.
Companies can now conduct webinars and live events on social media to create awareness of their offering and generate leads. 46.5% of companies confirmed an increase in webinar hosting during the pandemic. Webinars are cost-effective, remove geographical barriers, and it’s easy to get the best speakers to speak to prospects across the world. Most importantly, webinars are generally attended by prospects who are in the consideration stage. So, the chances of conversions are high after the webinar is completed.
Focus on personal branding
We cannot stress enough about the importance of personal branding.
82% of people are more likely to trust a company whose leadership is active on social media.
Encourage the C-level executives to actively post on social media platforms such as Twitter and LinkedIn. It will not just give a face to the company, but it will also help gain the attention of customers and investors. The best part is the leaders do not have to do anything elaborate to build their personal brand. Even small efforts such as sharing a personal opinion on the trends taking place in the industry, sharing personal or professional anecdotes and lessons learned from it, and writing an authoritative piece of article can help the leader establish their reputation as a thought leader.
Read more about personal branding in our previous blog here
Build credibility with social proof
According to Edelman’s 2020 Trust Barometer Survey, 70% of respondents said that trust is more important for them when dealing with brands. To gain the trust of prospects, technology companies will have to show social proof to back themselves as experts in the industry. These social proofs could be in the form of client testimonials, case studies, or industry-recognized certifications. These will enable companies to demonstrate their expertise and impact on prospects. Ensure that the feedback and ratings are collected from customers regularly and publish them on the website and social media to show value and build trust.
2021 – The Road Ahead
There are so many things that companies can do to build their brand and get more leads. But with limited time, bandwidth, and budget, mid-sized technology companies must focus on getting their foundation strategy right before experimenting with other trending tactics. We would recommend beginning with these three actionable tactics:
- Write high-value content regularly
- Establish a strong presence on social media
- Empower the C-level executives to share their opinion on social media and leverage their network
We have created a post-pandemic marketing plan – it outlines a rescue recipe for all kinds of mid-sized technology companies. Read it here
These tactics will take time to show results. But our experience of working with some of the best mid-sized technology companies has demonstrated that with consistency and quality content, companies can even supersede their goals and build a long-term relationship with their customers at a fraction of costs and efforts.