Business team discussing brand strategy
The B2B sales and marketing landscape has seen more disruption in the past five years than it has in nearly a century. First, the pandemic has posed unprecedented challenges to customer engagement. Today, rapid technological advances like artificial intelligence have permanently changed the way B2B buyers interact with suppliers and the way complex sales are conducted.
CMOs are under more pressure than ever and are constantly searching for that edge: that value proposition that sets a brand apart from the competition and builds customer trust and engagement. With that in mind, here are four cutting-edge strategies that are redefining the B2B ecosystem:
1. Reimagine digital engagement
For many B2B brands, rethinking how they interact with customers is at the top of their 2024 to-do list. Although most have long used digital channels to interact with prospects and customers, these interactions look like sometimes disjointed experiences rather than cumulative elements of a broader buying journey.
That said, B2B brands no longer just post content and hope for the best. Instead, they are reinventing digital engagement by creating interconnected experiences: virtual reality product demonstrations, interactive webinars and personalized online journeys.
It’s not just about grabbing the attention of B2B customers, but also about creating memorable experiences that resonate with decision-makers on much deeper levels.
CEO of Interactive kaon, Gavin Finn, shared with me some thoughts on the new priority of digital engagement. Specifically, he said: “B2B prospects and customers will expect a seamless experience across various analog and digital channels, including self-service digital (web) apps, mobile apps, immersive experiences (virtual reality and augmented reality) and live, face-to-face interactions. -face-to-face engagements such as trade shows and in-person sales meetings.
2. Embrace artificial intelligence
AI is no longer just a buzzword; it’s a powerful tool that is reshaping the B2B world.
Brands are using technology for everything from predictive analytics and personalized recommendations to automated customer service. Customers can have conversations with a chatbot that understands their needs and preferences better than some humans, and other AI-based tools can accurately predict market trends and customer behavior.
“Everyone thinks everyone is using generative AI,” says Lisa Gately, principal analyst at Forrester. However, Gately says most are “at a learning and exploring stage.” B2B brands that quickly adopt AI will have a definitive advantage over those that continue to neglect it. They will be able to glimpse the future, stay ahead of purchasing trends, and seize fleeting opportunities with exceptional precision.
3. Video Optimization
Today, B2B decision-makers are bombarded with a seemingly endless flow of information. Therefore, capturing and holding their attention long enough to deliver a value proposition or showcase a product is more difficult than ever, but that’s where video marketing comes into play.
B2B brands are optimizing their video marketing strategies to stand out from the noise of digital content, and it’s about more than just promotional videos. B2B companies produce everything from educational series and behind-the-scenes insights to customer testimonials that tell compelling stories.
Video content is also tailored to various platforms, ensuring it reaches B2B buyers wherever they are. When posting content on social media, brands produce concise, yet powerful content that captivates audiences. On-site content is not left out either. Instead, it becomes dynamic, engaging and more comprehensive.
Cumulatively, these video assets are reshaping the B2B shopping experience and enabling brands to meaningfully engage with them.
4. Enabling self-service
People often think that only “regular” shoppers like to do things themselves, whether it’s using in-store self-checkout or managing app subscriptions. But according to a 2021 study by TrustRadius, 87% of B2B decision-makers are still consumers.
As such, just like the ordinary buyer, they also appreciate having the opportunity to do things on their own when dealing with business matters, which is why more and more companies that sell B2B products offer their customers ways to help themselves. This can be done through websites where customers can easily find and get what they need, or even through special tools that allow them to tailor products or services to what they are looking for.
Letting B2B customers take charge and make their own choices is smart, but it’s important not to push them to do everything themselves. It’s about giving them the option to get behind the wheel if they want, making their shopping experience much more comfortable and within their control.
Looking forward
The start of a whole new ball game is on the horizon for B2B brands, with 2024 shaping up to be a time of significant change.
Therefore, your brand needs to be fast-paced and full of fresh ideas to keep up. Consider adopting new technologies, discovering markets you’ve never explored before, and finding new, engaging ways to connect with potential customers.
With the new year just around the corner, you need to make sure you’re ready for what’s ahead. Now is the perfect time to prepare and make 2024 your best year yet.