In the dynamic realm of B2B marketing, having a great product or service alone is not enough to guarantee success. It’s a common misconception to assume that superior offerings will automatically attract customers. The truth is, no matter how remarkable your solution is, it won’t make a difference if your target audience remains unaware of your brand and the value you bring.
Our very own Head of Agency Partnerships, Matthew Jantjies-Green, was recently a guest on the Lead Forensics podcast in a thought-provoking episode titled How Marketing is Losing You Deals You Should Be Winning (And How to Fix It). Matthew shares invaluable insights into the B2B Display Advertising strategies that can help you overcome the obstacles preventing you from closing deals that should be a sure thing.
It’s crucial to understand that, unless your B2B company is incredibly fortunate, only a small percentage, around 10%, of the companies in your target account list will be actively seeking an offering like yours at any given time. While intent is indeed a powerful tool in the B2B marketer’s arsenal, it’s often misunderstood. Many believe that investing the majority of their marketing budget in targeting the top 10% of companies actively looking for a solution is the most effective approach, considering the rest as wasted budget.
However, as Matthew reveals, this line of thinking falls short of delivering substantial improvements in deal closures. The decision-making process of companies, especially larger ones, involves compiling a list of potential providers based on initial thoughts, followed by further research, often using search engines like Google, to evaluate their suitability for solving specific problems.
During this research phase, the list is eventually narrowed down to three or four options that appear equally viable to the buyer. Surprisingly, in the majority of cases, the chosen provider is one of the brands that initially came to mind during the preliminary list creation, before any in-depth research was conducted. This highlights the importance of ensuring that your brand is among the first to be considered when target accounts embark on their quest for a solution similar to yours.
So, what steps can you take to address this challenge and increase your chances of winning those deals? Matthew outlines a recommended approach that serves as a campaign backbone, emphasising the need for customisation based on your company’s unique circumstances.
To begin, Matthew suggests running a generic brand awareness campaign across your entire list of target accounts. By proactively building awareness and capturing mindshare before potential clients realise they need your services, you can educate them about the benefits of your solution while positioning your brand as a dominant player. The beauty of this approach lies in the fact that your target accounts won’t know that you’re exclusively targeting them, creating an impression of substantial advertising investment.
As the campaign progresses, you can leverage the data collected to identify accounts that are likely to be in-market or explore other intent channels. Matthew advises refining your targeting criteria to ensure that the right people within each account see your ads. For example, contextual targeting can strategically position your ads alongside department-specific content, such as IT, finance, or marketing, catching the attention of individuals most likely to be involved in recommending solutions.
Alternatively, if a comprehensive intent marketing strategy is not required, you can identify the companies most likely to be in-market by analysing metrics such as click-through rates or the frequency of their visits to your website.
Once you have sufficient data to identify your primary targets, typically the top 10 to 20% depending on your specific strategy, Matthew recommends transitioning them into a more strategic campaign. This phase involves incorporating a stronger call to action and broadening your targeting criteria by removing the contextual component, allowing you to reach a wider range of employees within those organisations.
If you’re frustrated by missed opportunities and want to optimise your marketing efforts to win the deals you deserve, this podcast episode is a must-listen. Join us as we unravel the secrets to revitalising your approach and maximising your chances of success. Matthew Jantjies-Green shares practical strategies and valuable recommendations that will empower you to thrive in the competitive B2B landscape.
Tune in and gain the insights you need to transform your marketing strategy and secure the deals that should rightfully be yours.
Listen to our other Account Based Marketing Podcasts for more useful industry insights:
- Natalia Chaban – Digital Performance & Technology Director at MediaCom
- Philip Gosney – Head of Global Marketing at Maersk Drilling
- Christopher Engman – Author & Managing Partner at Megadeals Advisory
- Jim Lloyd-Williams – CEO at Mindshare UK
- Chris Hirst – Global CEO at Havas Creative
- Riaz Kanani – CEO & Founder at Radiate B2B
- John Harris – President & CEO at Worldwide Partners
- Ricky Abbott – President of Americas for Transmission
- Michel Juvillier – Founder of The Societies Media
- Raffaele Apostoliti – President & CEO at Expandi Group
- Judith Niederschelp – CEO at Demand Studio
- Paul Frampton – President at Control v Exposed
- Luke Bozeat – COO at MediaCom UK
