Best B2B Marketing Channels Strategy in 2024

Stepping into 2024, it’s crucial to reevaluate your B2B marketing strategies. Digital channels are becoming more competitive and costly, making it essential for B2B organizations to optimize their marketing to achieve good ROIs and engage their audiences effectively. Traditional methods like business directories and broad social media ads are losing effectiveness, urging a shift to a mix of old and new strategies. This article explores the evolving B2B marketing landscape, offering insights into channels that can boost your lead generation and sales. Discover the best strategies for 2024 to refine your marketing approach.

The OGs: Current Popular B2B Marketing Channels 

PPC advertising AKA Google Ads: “A Lazy Marketer’s Tool”

Google Ads is a top choice for online advertising among B2B companies, yet many find it costly and inefficient. Often, these ads miss the mark on reaching target audiences due to limited customization and targeting, rendering them ineffective for B2B use. Additionally, the intense competition within PPC networks makes it hard for companies to distinguish themselves.

Close Variants of the Google Kind: An Example of Google Ads Missing the Mark

Google Ads often struggles to meet the demands of B2B marketing, especially with the “exact match” keyword type. In the B2B sector, targeting precise searches is crucial. For example, our company, HelpSquad, aims to reach clients needing to outsource customer service with terms like “BPO”, “outsource live chat”, and “live chat agents.” However, Google Ads frequently misdirects traffic to us from unrelated searches such as “BPO hiring” or “live chat with AT&T.” This forces us to constantly update a lengthy list of negative keywords, adding yet another time-consuming task to our daily routine.

Two is a Company, More is a Crowd: Overcrowded Ad Space Results in Higher Costs

Google Ads has grown more complex and less perfect over time. Ads now compete with up to nine others for visibility on a single search term, where once only two ads appeared. This competition drives up bid prices, sometimes to over $100 per click. While companies with high profit margins might still see a healthy ROI, it’s not sustainable for most.

For effective results with Google Ads in B2B, expect to invest at least $8k monthly. We believe Google Ads usage will decrease over time, giving way to more efficient lead-generation methods.

Directories: Lost in Sea of Listings

Business ranking directories like G2, Capterra, and Clutch.io are key for B2B marketing but often feel overcrowded. This overcrowding makes it hard for companies to use their resources effectively and reach their target audience. Many struggle to optimize their listings for better visibility. Also, tracking the ROI accurately remains a challenge.

Social Media: Big Audience, Little ROI

Social media platforms offer wide reach and engaging experiences, making them appealing for online advertising. However, they have been less effective for B2B organizations compared to consumer-focused businesses. Platforms like Twitter and Facebook often fall short for B2B due to their consumer-oriented focus, limited customization, and challenges in connecting with the right audiences, leading to poor ROI. However, for solo entrepreneurs in the B2B space, social media can be highly effective as they can leverage their personality and expertise to connect with prospects on a personal level.

New Kids on the Block: Alternative Marketing Channels for B2B SaaS Companies.

So what are some alternatives to the ineffective methods? Here is a list of our favorites which we hope could help you choose the right mix that works for you:

• Account-based marketing (ABM)
• Conferences and trade shows
• Content marketing
• Direct mail
• Email marketing
• Field marketing
• Partner marketing
• Search engine optimization (SEO)
• Traditional media
• Webinars
• Word-of-mouth
• Growth Hacking

In addition to listing all the current mediums, we are ranking their effectiveness by 🚀 (1-5, 5 being most effective) and cost by 💲 (1-5, 5 being most expensive). 

Ready for take-off? Let’s go. 🚀🚀🚀🚀🚀

Account-Based Marketing (ABM)

Account-based marketing (ABM) is a targeted strategy where marketing and sales teams collaborate to create personalized campaigns for specific high-value accounts. Unlike broader strategies that use generic communications, ABM focuses on the unique needs and goals of select accounts. This method is particularly effective for B2B companies as it helps build long-term relationships with key decision-makers at these accounts.

Examples of Account Based Marketing Campaigns

Successful ABM examples in the B2B sector include Terminus’s “Flip My Funnel” campaign, which used targeted ads and personalized content to engage key accounts, boosting their annual contract value by 300%.

Another instance is Pardot’s “One-to-One” campaign, employing ABM tactics like personalized landing pages and direct mail to generate leads and close deals with targeted accounts. Chet Holmes’ book, “The Ultimate Sales Machine,” offers an easy-to-understand guide on implementing ABM strategies.

Is ABM strategy a good fit for your company? 

Conferences and Trade Shows

Conferences and exhibitions bring industry professionals together, offering access to the latest products, services, and ideas, and opportunities for networking. One way to effectively manage participation and maximize engagement at such events is through using advanced tools like a RegFox event registration demo, which can streamline the process of attendee registration event engagement.

However, the costs and potential ROI of attending such events should be carefully evaluated due to their high expense. To make the most of these opportunities, B2B companies need a clear goal, whether it’s lead generation, networking, or launching a product. Planning is crucial; this could involve scheduling meetings with potential clients or creating an eye-catching booth display.

Is event strategy a good fit for your company?

Content Marketing

Content marketing involves creating and sharing valuable, relevant, and consistent content to attract and engage a specific audience, ultimately leading to profitable customer actions. In the B2B sector, this strategy can include blog posts, ebooks, infographics, webinars, and case studies. High-quality content delivered consistently, such as at least two blog posts per week as recommended by many SEO consultants, is crucial.

For B2B companies, content marketing is a powerful tool for educating target audiences about their offerings and establishing thought leadership within their industry. For example, HubSpot’s “Inbound” campaign, which featured blogs, ebooks, and free marketing tools, generated over 50,000 leads and achieved $100 million in annual revenue. Similarly, Intel’s “Intel Free Press” campaign is another example of effective content marketing.

Is content marketing strategy a good fit for your company? 

Direct Mail

Direct mail marketing, involving physical items like postcards, brochures, or catalogs, remains a valuable tool for B2B companies despite the digital age. This method excels when targeting specific audiences.

To maximize the effectiveness of a direct mail campaign, B2B companies should ensure the mail piece is relevant and valuable to the recipient and includes a clear call-to-action. Testing different aspects of the mail piece, such as the subject line, offer, and design, can help determine the most effective approach.

Is direct mail strategy a good fit for your company? 

Email Marketing

Email marketing involves sending promotional messages to a list of subscribers and serves as an effective nurturing tool for B2B companies to promote their products or services.

To enhance the effectiveness of an email marketing campaign, B2B companies should segment their email lists based on factors like job title, industry, or location to tailor messages specifically. Optimizing the subject line, sender name, and email design is crucial to increase the likelihood of the emails being opened and read. Additionally, using targeted marketing automation software can significantly improve campaign results.

Is email marketing strategy a good fit for your company? 

Field Marketing

Field marketing involves interacting with customers or prospects directly, outside of an office or store setting. It’s a potent tool for B2B companies, aiding in lead generation, relationship building, and creating buzz around products or services.

Common B2B field marketing activities include product demos, experiential events, and speaking engagements. To maximize the impact of these efforts, B2B companies must carefully plan and execute their activities and measure the results to ensure effectiveness.

Is field marketing strategy a good fit for your company? 

Partner Marketing

Partner marketing involves collaborating with other companies to mutually promote products or services. This approach leverages the strengths and resources of each partner, making it a powerful strategy for B2B companies.

Successful examples include Adobe’s “Adobe Creative Cloud for Teams” campaign, which partnered with creative agencies to offer discounted Adobe product subscriptions, resulting in a 20% sales increase. Another example is Hewlett Packard Enterprise’s “Co-Marketing Program,” which worked with solution providers on joint marketing campaigns, generating over $1 billion in pipeline revenue.

Is partner marketing strategy a good fit for your company? 

Search Engine Optimization (SEO)

SEO involves optimizing a website to improve its ranking in search engine results pages (SERPs). For B2B companies, SEO is a vital marketing channel, allowing them to reach their audience at the moment they are searching for related products or services.

To boost SEO, a B2B website should conduct thorough keyword research, optimize its content and structure, and secure high-quality backlinks from reputable websites. Additionally, B2B businesses should regularly monitor and evaluate their SEO efforts to identify successful strategies and areas needing improvement.

Is SEO strategy a good fit for your company? 

Traditional Media

Traditional media, encompassing long-standing channels like print, radio, and television, has seen a decline but can still be a viable marketing tool for B2B companies. These media forms can effectively reach specific audiences, particularly in industries where digital penetration is less dominant.

Is a traditional media strategy a good fit for your company? 

Webinars

Webinars are online presentations conducted via video conference, allowing remote participation. They are a cost-effective marketing channel for B2B companies, helping them reach a broad, targeted audience and showcase their expertise.

To run a successful webinar, a B2B company should first set a clear objective, such as lead generation, a product launch, or educational purposes. Strategies must then be developed to achieve this goal, including promoting the webinar, crafting interactive content, and engaging with attendees.

Optimizing various aspects of the webinar is crucial for improving attendance and engagement. Key elements to focus on include the title, description, and format of the webinar.

Is Webinar strategy a good fit for your company? 

Word-of-Mouth/Referrals

Word-of-mouth and referral marketing capitalize on recommendations from satisfied customers or trusted sources, proving effective in the B2B sector for generating leads and building credibility. Prospective buyers often trust the opinions of peers or industry experts.

To maximize the potential of word-of-mouth and referral marketing, B2B businesses should focus on providing exceptional customer service and creating positive customer experiences. Happy customers are more likely to recommend a company. Additionally, incentivizing referrals by rewarding customers who bring in new business can further enhance this marketing strategy.

Is referral strategy a good fit for your company? 

Growth Hacking

Growth hacking is a potent strategy aimed at achieving rapid growth through creative, cost-effective, and unconventional marketing tactics. It involves constant experimentation, such as A/B testing, to optimize the customer journey. Successful tactics are scaled, while ineffective ones are adapted or discarded. Often associated with startups and small businesses seeking quick market traction, growth hacking demands a mindset geared towards experimentation and optimization.

A notable example of successful growth hacking is Dropbox, which escalated to a $4 billion valuation in just two years primarily through growth hacking strategies.

Is a growth hacking strategy a good fit for your company? 

Conclusion

In B2B marketing, various channels each offer unique benefits, making it challenging to rank them from worst to best. The effectiveness of each channel depends largely on the specific goals and target audience of a B2B company. It’s crucial for these companies to employ diverse approaches and consistently monitor and adjust their strategies across different marketing channels to achieve optimal results.

If you have any further questions or need additional assistance, please don’t hesitate to ask us. Or if you found the media that works for your company and need assistance in converting/prequalifying prospects, please give HelpSquad 24/7 live chat service a try!