With an increasingly crowded marketplace, businesses need every means possible to differentiate themselves and stand out from the crowd. This is especially true when it comes to B2B marketing. To reach new clients, and expand operations, old mindsets have to change. As Arie de Geus, former head of Royal Dutch Shell’s Strategic Planning Group once said: “The ability to learn faster than your competitors may be the only sustainable competitive advantage.”
One area where businesses are learning to differentiate themselves and reach out to potential customers is through the use of sophisticated digital marketing tools. The B2B outreach market is flourishing across multiple platforms and many new services are springing up to meet the need.
The latest products promise to make it easier for businesses to build their client base, manage outreach and track the success of different campaigns. For example, the Israeli-based company responsible for Skkipper.com has recently developed a software product that focuses on B2B outreach on LinkedIn. The software company partnered with Israeli-American entrepreneur, Ty Frankel, who adds the venture to his varied career. His first job was in the hip-hop industry: he ran a blog at age 13 but then moved into producing music by the age of 14. Aged 17, Frankel began making music for the TV and film industry and eventually he set up his own agency: Shut Down Music. Frankel‘s business saw highs and lows and eventually, he decided to go in a new direction, realizing that it would never help him achieve his long-term ambitions.
Undeterred by this setback, he launched a new lead-generation service called Shut Down Emails. Frankel used the same principles that helped him build his own agency’s revenue from $20,000 a month to $50,000, in only a six-month period.
His experience in the music for TV and film industry taught him the importance of canvassing potential clients and generating leads. Frankel continued to refine his skill set and now specializes in helping others generate leads for their companies.
Lead generation on LinkedIn
Frankel explains that the B2B outreach market is dynamic and fast-paced. Nowadays, CEOs, and other top managers, tend to spend the most time on LinkedIn. “CEOs can get swamped with emails. LinkedIn messages are more personal.”
Why is LinkedIn so good for businesses?
For starters, Linkedin is a place where people go and share their career progress, recent achievements, and find information that makes work life better. Logically, in the context of business-to-business marketing, LinkedIn has a larger pool of professionals: people who are open to relevant services and offerings. When someone peruses the content on LinkedIn, they are already looking for ideas and services that will help their business. Therefore, marketers tend to find greater traction amongst their target audience. Studies suggest that 4 out of 5 LinkedIn users are decision-makers: the people that control company purse strings. Moreover, because LinkedIn is primarily a business network, there are fewer items to distract users. In other words, the messages that marketers want to convey are not obscured by pictures of ponies, dogs, and fluffy cats.
How does LinkedIn compare to other platforms?
Available in over 200 countries, and with more than 722 million users, the platform has a truly global reach and is able to access markets and customers that clients mightn’t previously have encountered. With 96% of B2B marketers making organic content on the platform, it is recognized as the leading distribution site. Even compared to other social media channels, LinkedIn still ranks highly in terms of conversion to leads. Hubspot’s study of 5,000 businesses found that LinkedIn outperformed both Twitter and Facebook when it came to visitor-to-lead conversions. In fact, LinkedIn outperformed all social media with a conversion rate of 2.74% compared to the average of .98%.
Now is the right time
And the trend shows no immediate signs of slowing. With many relegated to working from home over 2020-2021, it became almost impossible to have face-to-face meetings. This made it much more difficult for marketers to connect with new clients. As a result, marketers increasingly turned to digital solutions to reach out to other businesses. The upshot of this has been that customers have become more receptive to digital experiences. A CMO survey carried out in June 2020, reported that 84% of customers viewed digital ‘experiences’ as being more valuable than prior to the COVID-19 pandemic. Whereas a digital element might previously have been part of an overall marketing approach, it’s now more likely to be used as a sole strategy. If the trend continues, we must ask whether traditional B2B marketing can compete with the dominant online platforms? Or, as the numbers suggest, is their day almost at an end?