3 Reasons Why B2B Demand Gen Efforts Need Personalization
September 4, 2018 | Justina Logozzo
For B2B marketers, demand generation has long been the first crucial step toward effective campaign efforts. By driving brand awareness and capturing the attention of potential customers, marketers can gain the top-of-the-funnel prospects they need, while more effectively nurturing and qualifying them. There’s just one problem…B2B demand gen in 2018 is evolving.
As we mentioned in a recent post, it’s no longer about getting the most leads into the pipeline, it’s about getting the right leads into the pipeline. It’s not just the shift toward better leads that’s shaping demand generation efforts today, either. Modern prospects are expecting more from the brands vying for their attention, forcing marketers to rethink how they go about raising awareness and demonstrating value.
Digitally-connected and research-driven, today’s prospective customers expect relevant, consistent marketing that aligns with the problems they’re looking to have solved. But don’t take our word for it…the proof is in the numbers:
- 59 percent of customers say personalization influences their buying decisions.
- 74 percent of customers feel frustrated if brand’s website content isn’t personalized.
- Over 78 percent of consumers will only engage with offers that have been personalized to their previous engagements made with a brand.
- 62 percent of customers want content that speaks to their unique needs and pain points.
Whether you’re ready or not, personalization is the modern marketing rule, not the exception. To help B2B marketers understand what personalization brings to the table, and how it’s shaping the future of demand generation efforts, we’re highlighting three of the biggest benefits of personalized demand generation. Let’s take a look:
1. Improved Customer Experience
Modern prospective customers hate waiting. Moreover, they don’t want to have to search extensively for the information they need to help them make an informed buying decision. With 81 percent (see graphic below) of consumers conducting research before making the decision to purchase, there’s a lot of room to capitalize on opportunities (or let them wither on the vine).
With this in mind, the role customer experience plays during a prospect’s research efforts has never been more critical:
According to Marketbridge, 76 percent of B2B buyers expect to receive content that’s tailored to their individual buying stage. For marketers looking to up their demand gen game, this is big news.
By personalizing the experiences marketers provide prospects with, they’re making two big strides toward moving those prospects toward a conversion.
One, they’re demonstrating value that goes above and beyond competitive pricing and product or service quality—grabbing their attention.
And two, they’re letting prospects know that at an organizational level, the brand takes the time to understand and address a prospect’s needs—helping to keep their attention.
For marketers, the greater the customer experience they can provide, the greater impact their initial B2B demand gen will have. In fact, customers are 5.2 times more likely to purchase from companies with great customer service.
In other words, if demand generation efforts are personalized to the individual interests of prospects, they’ll have a more positive customer experience. As a result, prospects will be more receptive to engagement across marketing channels while being nurtured toward conversion.
2. Increased Customer Retention Rates
In order to keep customers in it for the long-haul, marketers need to earn their loyalty. More specifically, they need to demonstrate that they care about their customers and understand the unique needs, interests, and challenges they have.
Unfortunately, when customers feel a brand doesn’t take the time to understand these important aspects, they’re likely to leave in search of a competitor that does.
Given the fact that it’s on average, five times more expensive to acquire a new customer than retain an existing one, the more opportunities for marketers to nurture relationships with their customers and engage them after conversion, the better.
When marketers personalize their efforts toward individual prospects, they’re demonstrating that their brand takes the time to connect with customers on a more granular level than the competition—making it less enticing for customers to go anywhere else with their business.
When it comes to putting the idea of customer retention into practice, interactive content can help. When a customer purchases a product or service, it’s almost guaranteed that they’re still learning how to use it. For example, marketers can use interactive infographics to connect customers with educational resources based on the unique interactions they make. This kind of content and engagement opportunity shows that you’re committed to customer success and will continue to provide value long after they’ve purchased a product or service.
3. Greater Revenue Growth
With stakeholders researching a variety of competing products or services before buying, marketers have a small window of opportunity to catch prospects’ attention. If you can provide something relevant to their interests, you catch their eye…if you miss the mark, the prospect is gone. By personalizing marketing efforts to deliver the right messages at the right time, organizations can generate more revenue, faster.
For example: When a prospect shows interest in a particular product or service, but seems hesitant to move further down the funnel, interactive calculators can be used to drive faster lead nurturing. By connecting a prospect with a calculator that aligns with their interests and the problems they’re looking to have solved, that prospect can clearly see how a product or service can help their organization.
For marketers, personalized engagements help increase the amount of opportunities they have to make an impact with prospects. On the flip side, this type of interaction allows marketers to learn more about the prospect, which can be used to inform individual customer journeys and further define buyer personas.
From the sales team’s perspective, marketing’s personalization efforts lead to higher sales-quality leads. Thanks to the insights gained through personalization, sales representatives go into a pitch with a deeper understanding of their leads. They can then tailor their pitch to address individual needs and concerns head-on. With better quality leads, and insights to guide conversations, sales reps are more successful at driving conversions and sales.
As demand generation continues to evolve, the growing savviness of B2B buyers means businesses have to make a quicker impact and keep their attention long enough to generate sales. With this in mind, personalization is an absolute necessity for successful B2B organizations today. Not only does personalization lead to better immediate marketing efforts, it also allows brands to retain customers and drive long-term revenue.
Want to see how interactive content can help your business offer personalization? Check out our interactive content examples for creative personalized B2B demand gen.