Social Media and latest technology powered inbound marketing techniques have revolutionized the way business of sales in the B2B industry takes place. B2B marketers are largely using Facebook Inc. (NASDAQ:FB), LinkedIn Corp (NYSE:LNKD) and Twitter Inc. (NYSE:TWTR) to generate leads. LinkedIn is most vital as a majority of the crowd engages on the platform for serious business purposes.
Outbound marketing, also known as interrupted marketing was largely used when internet technology was in the course of development, and connecting with business firms was a slightly tedious task. Outbound marketing basically involves contacting someone through referrals, emails, direct mailings or cold calling. Although, outbound marketing techniques were successful in the days gone by, the rejection rates for emails and cold calls were also high.
Inbound marketing also known as permission or friction-less marketing is growing by leaps and bounds every year, as the customers themselves approach the business owners, looking for an association or business. B2B marketing firms must try attracting customers via content marketing and other similar inbound staples and build an image so as to attract customers and generate sales. Since the customers themselves approach in this case, B2B marketers have permission to keep themselves connected with the clients until the deal is closed.
Leading social media and digital marketing agency providing online marketing solutions Maximizesocialmedia, enumerated the evolution around the B2B sales strategy in an Infographic below. Few interesting findings are listed below.
- Nearly 54% of B2B buyers begin the buying process with an informal research around business challenges and 78% of the time they use internet to initiate research.
According to Lori wizdo, Principal analyst for Forrester – ”today’s buyers might be anywhere from two-thirds to 90% of the way through their journey before they reach to a vendor.”
- Blogging, Social media , SEO, high value educational content and permission based emails are major tools opted by inbound marketers. Print, direct mail, cold calling, trade shows, RFPs and emails to purchase list are opted by outbound marketers.
- Inbound marketing costs 62% less per lead than traditional outbound marketing. ROI derived from inbound marketing is higher than outbound marketing.
- Inbound marketing is much more effective than traditional outbound marketing, as in the case of inbound marketing the customers themselves approach a B2B firm for association or purchases.
- Nearly 57% of companies reported customer acquisition through company weblogs. About 57% of them claimed LinkedIn was their source of customer acquisition, next in line was Facebook with 48% and Twitter with 42%.