Why B2B Companies Need to Try Display Advertising
B2B marketing is certainly not a piece of cake whether you have just stepped in or spent years to create a pace in the industry. In both cases, advertising plays a crucial role in raising awareness and encouraging conversions, if done right.
When it comes to display advertising, many B2B marketers were left with a bad taste in mouth and for a significant amount of time ‘display ads’ were claimed as untrustworthy. However, the ineffectiveness of display advertising is associated with lack of context and value of ads.
Today, display advertising is back with a bang. Thanks to niche targeting that allows for the placement of ads on a huge range of websites and target customers as per their unique browsing behavior. On the other hand, for most B2B marketers display advertising is no less than a ‘blanket tool’ – a way to advertise their special offer or products and raise brand awareness to a fairly broad audience.
In a B2B context, marketing standards are required to meet certain standards like the audience has to be accurately targeted and the message must be exact and direct. For both the conditions, display advertising is extremely relevant for determined conversion rates.
The Power Of Display Advertising
Among many B2B marketing trends for 2018, display advertising is marked important due to the fact that it strongly supports the idea of result oriented marketing.
It is reported in a whitepaper by Bizo, when a leading B2B marketing software company was asked to inform about their top 3 marketing initiatives, display advertising was marked as most important, even more than Search engine optimization.
In addition, up to 90% B2B marketers report that display advertising more crucial now to their marketing mix as it was last year and 49% are planning on to invest in display ads more than they did the previous year.
Brand Awareness via Display Ads
If B2B display ads are put to work cleverly in conjunction with accurate retargeting then the audience that perfectly complies with segmentation requirements or the website visitors, can easily be approached and engaged in a consistent manner.
Accurate targeting and relevant ads makes the firm appear as a largely professional entity in terms of branding thus raising awareness among people and other companies.
A successful B2B marketer is the one that is interacting with the right audience at right places on the right time and specific targeting combined with buying mechanisms is the key to achieve such ideal marketing goals. Here display ads play a crucial role by effectively persuading the target audience and leave a lasting impact with clever and catchy images.
Those who have even a little experience with display advertising know that it’s no less than an opportunity for expansive reach and precise targeting at the same time. This also means that not a single dollar is wasted on segments that are less likely to take interest and respond.
A study reports that display advertising modifies the buying behavior from the very first exposure to brand to after the sale is made.
According to comScore, paid search only reaches 8% of the audience that matters to the marketers and email marketing is usually triggered by the size and value of the leads or email list.
On comparing multiple marketing initiatives with display advertising it’s pretty clear that display ads are the only way to successfully maintain precision and scale at the same time.
Every marketing initiative is grounded on a specific purpose and same is the case with display advertising but the motive behind has no certain limits. For instance, display ads are not only meant for promotion these can be used for any phase of the customer’s buying cycle.
Display Ads can be designed to raise brand awareness, educate prospects, enhance engagement in certain target segments and to close a deal as well. On the other hand, display advertising allows the brand to stay on top of the mind by keeping the current customers updated with new offers, services or products.
For every marketing tactic there must be a way to track progress. For display advertising deep insights can be obtained via full-funnel reporting and analytics that help analyze the direct impact of display ads on company’s objectives and other programs. Here the sales force also gets an advantage to understand customers better with having insights on their buying journey.
How Display Advertising Impacts the B2B Customer Experience
For a successful marketing approach and desired results B2B marketers need to emphasize on full-funnel marketing strategies. A marketing funnel refers to the entire buying process that initiates with prospects becoming aware of the brand, moves forward when they engage with the products or services and reaches the final phase with prospects ending up as customers.
A common mistake that most marketers make is that they solely emphasize on bottom of the funnel in order to generate maximum leads. On the other hand, full funnel display advertising influences the entire buying process by raising awareness, educating prospects before they engage to sales and attracting new leads.
Display Advertising – The Flip Side
There are few facts that do not fall in favor of display advertising and one may get confused with the idea of investing in display ads after knowing about them. Like for instance, a study conducted back in 2014, reported that peopled aged between 18-34 years are more likely to ignore ads that appear on search engines, social media or banner ads as compared to those on TV, radio and newspaper.
On the other hand, the significant proportion of people avoids responding to display ads. Here’s how:
Up to 50% clicks on display ads that appear on apps are accidental.
Banner ads are avoided by around 54% of people because they find it untrustworthy.
For 30% of people display ads are not only uninteresting but completely intolerable.
How to do it Right Preventing the Downside
As mentioned earlier, display advertising has moved up the ladder since its inception. Still, it’s reported by Unbounce that up to 98% percent of marketers seem to waste money on display ads, then where the problem persists?
The core reason behind the failure is lack of understanding on how to leverage display ads in a way that make sense for the business’s goals and how to operate the software in order to do so.
Effective display advertising no longer prevails in face of banners skyscraper ad units instead it has worked its way up to Facebook newsfeed and also found alongside the updates from LinkedIn connections.
Initially Display Advertising somehow failed to deliver the expected customer turnout maybe because the expectations outweighed the input. However, over the time few tweaks in display ads worked for marketers and it began to gain popularity. Today, it’s one of the most effective way to modify the marketing funnel in order to obtain desired results.