Are you struggling to convert your B2B sales leads into paying customers? Selling to other business owners and professionals requires a different approach than selling to consumers. This target audience is often immune to traditional advertising methods, so if you want to succeed, you'll need to adjust your approach accordingly. However, sub par sales could also be the result of one or more of the following marketing mistakes.
Email consistently ranks as one of the most cost-effective marketing channels for B2B business development. In fact, the digital marketing experts at HubSpot say email generates 4,000% return on investment (ROI) on average. That's far more than any other marketing channel or advertising platform. Of course, this makes sense given the fact that you can continue to market to the same prospect over and over once you've acquired his or her email address.
The Internet has revolutionized the way in which we buy products and services. No longer are we forced to find companies using the phone book; now we can search for them on Google. But if your company doesn't have an online presence -- or a strong online presence -- you won't be able to reach your target audience effectively. Instead, your audience will likely choose a competitor with whom to do business.
Some leads are more likely to follow through and buy your advertised product or service than others. If you recently acquired a new lead, and that lead expressed strong desire to buy your product or service, you should focus your marketing efforts on him or her first. These high-quality leads are essentially what will drive B2B sales. Of course, it's not a bad idea to rate the quality of all your leads, as this provides a better understanding of which prospects you should target and which ones you should place on the backburner.
When marketing your products and services online, be sure to split-test at least two different ad variations. Even if you have an ad that's turning a positive ROI, you may be able to optimize it for an even higher ROI. Of course, the only way you'll know is by split-testing. Split-testing involves running multiple ads simulatenously to see which ad outperforms the other. You can then remove the underperforming ad and replace it with a new one.
These are just a few common mistakes that can kill B2B conversions.