5 Reasons Why Your B2B Marketing Efforts Aren’t Working

  • Organizations on average are generating over 470,000 website visitors, 1,800 leads, and 300 new customers per month.
  • Over 60% of marketers said their CAC has increased in the past three years.
  • Ad placement and audience targeting are the top ways that advertisers drive more demand.
  • 67% of companies use lead generation as the sole metric to determine content success.
  • 43% of sales and marketing people said “lack of accurate/shared data on target accounts and prospects” was the biggest challenge when it comes to aligning sales and marketing departments.
  • 78% of salespeople engaged in social selling are outselling their peers who are not.
  • Salespeople active on social media report 45% more sales opportunities.

1. No Clear Strategy

A marketing strategy should be a no-brainer; however, developing one and then executing it can be a challenge. Without a clear strategy, you won’t be able to align tactical implementations, let alone figure out how to support the overall business objectives in place.

Identify OKRs

OKRs (objective and key results) is a strategic framework, whereas KPIs are measurements that exist within the framework. To be more specific, as defined by ClearPoint Strategy:

  • Always quantifiable
  • Able to be objectively scored on a 0–1 or 0–100 scale
  • Timelined
  • Ambitious (if you easily achieve your objective, it wasn’t aggressive enough)

Identify KPIs

KPIs, on the other hand, are more straightforward because they are always tied to the overall objectives, each tactical execution, and measured by performance or lack thereof.

  • What is the most desired outcome by tracking these KPIs?
  • How will these KPIs help the business?
  • Which KPIs are going to foster overall growth initiatives?
  • How will you define what success really looks like?

2. Not Understanding the Buyer Journey

As you develop creative assets to advertise alongside content pieces that are leveraged to drive lead generation, having in-depth knowledge of what really triggers your prospective customers to reach out and actually buy should be a top focus.

  • Nail down your buyer personas
  • Focus on 1 (and maybe 2) personas
  • List out the different touchpoints you anticipate and know will take place from marketing to sales and with customer success
  • Take note of the inventory of resources needed to help (e.g. datasheets, whitepapers, webinars, calls, emails, etc.)

3. Lacking Alignment with Sales

An all-too-common scenario in many B2B companies is that sales are constantly complaining that they don’t have enough leads, while marketing feels that the leads they are sending over aren’t being followed up. There is validity to this last point because sales reps are known to ignore 50% of marketing leads. However, when both sales and marketing are in alignment, it can lead to 38% higher sales win rates.

  • Organizations with tightly aligned sales and marketing functions enjoy 36% higher customer retention rates.
  • Sales and marketing alignment can help your company become 67% better at closing deals.
  • Aligning both departments can help generate 209% more revenue from marketing.
  • Companies with strong sales and marketing alignment achieve a 20% annual growth rate.
  • Companies with poor sales and marketing alignment can cost 10% or more in revenue decline.

4. Not Leveraging Data to Make Decisions

Knowing the data associated with your digital marketing efforts is one thing, but using that data to tweak your campaigns (or drastically alter them when needed) is where metrics drive actions.

  • How might the company mimic the success of one social channel on another?
  • What types of posts are driving the most traffic?
  • What posts are not hitting the mark and how can they be revised?
  • What is the next step in the strategy?
  • What can be done with more Facebook ad dollars and is it worth the investment?
  • 66% of marketing data is used to better focus on targeting offers, messages, and content.
  • Companies that adopt data-driven marketing are more likely to have an advantage over the competition and increase profitability. They are also 6 times more likely to be profitable year-over-year.
  • 68% of companies say improving ROI measurability is the most important goal for a data management strategy.

5. Not Making Content a Top Priority

Did you know that content marketing is 3x more cost-effective at lead generation than paid search? Additionally, companies who blog consistently receive 67% more monthly leads than companies who don’t blog regularly. The most successful B2B marketing teams spend 40% of their marketing budget on content marketing.

  • The amazing thing about content in general is that you will develop a ton of it and only 1 or 2 really great pieces will go viral — so don’t push for virality in everything you do. Instead, stay true to the problem you’re solving in your specific niche and be clear that you are an expert within that.
  • Great content adds value, and as people consume your content, they will be more inclined to buy from you over time. Don’t think of content as transactional.
  • Be intentional. Every piece of content you generate should be aligned with the buyer journey and their lifecycle stage. Don’t create new content just for the sake of having new content. Have a purpose behind everything you do.

Over to You

Making sure all of these components are in place and also revisiting them often will keep your executions in check. Everything you report on and do should be guided by the overarching business objectives so that you don’t lose sight of ‘why’ you’re doing what you’re doing.

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Suttida

Suttida

Entrepreneur. Raising a business and babies. Avid blogger. Digital marketing enthusiast. Love to get shit done. Learn more: suttida.com