The B2B e-commerce is growing rapidly and every year brands reach the epitome of success due to smart marketing tactics, business networking and implementing digital innovations at work. According to a recent report, experts forecasted that the worldwide B2B marketplace will generate a revenue of around 6.7 trillion US$ by 2020.
If you’re also looking to join the cream of this $6.7 trillion pie, you will have to take some important notes. Read on below to find out top tips that some of the most successful B2B brands of 2019 follow to streamline their business:
1. Educating their Customers
Almost all of the top B2B brands right now practice the most important strategy – educating their customers. If you don’t provide users with the complete information about your products, they will end up exploring other brands or more likely your competitors.
Many successful businesses have transformed from just user-portals to complete educational websites or mobile apps with product descriptions, promotions and information that provide value to customers. Previously, this info was conveyed through phone calls or one-on-one conversations but since everything is digital nowadays, you need to have everything presented online. Some of the top B2B websites include:
- Specifications about the product
- Purchasing guides
- Size/product/material charts
- Video tutorials
- User guides/How to’s
- User Testimonials and Reviews
2. Migrating to Online Channels
How often do you see customers making phone calls for any queries or purchases? With the trend of offline channels rapidly decreasing, B2B businesses are migrating to online channels giving users an upper hand in this technology world. According to research, 92% of B2B buyers prefer to buy online instead of visiting stores or placing orders on phone. As you implement the digital channels, ensure that your customers are looked after 24/7. You can do that through:
- Friendly User Interface
- Pop-ups for easy navigation
- Customer Representative Support through Emails
3. Solving Problems through Technology
In comparison to B2C trading, B2B is a little more complicated when it comes to dealing with buyers, shipping orders and tracking their delivery. In most cases, there are higher chances of errors in the fulfilment of orders. In the past couple of years, B2B companies who have been successfully consistent with deliveries and meeting client expectations have solved most of their problems through technology.
Brands are using ERP systems to create a strong e-commerce platform to incorporate better customer services and product deliveries. This helps them keep hold of customer data, their orders, credit limits and balances. Other than ERP, technology also automates a number of other processes.
- Automatic Inventory that alerts customers the amount of stock of each product
- A dashboard with complete information of each customers’ order process
- Options for order tracking
- IoT based sensors in the warehouse to manage new and to-be-shipped products
4. Organizing their Business Structure
You can’t just switch to an online platform and expect to work on the same business plan as you did with offline channels. B2B businesses that migrated to digital technology have re-aligned their business strategy and structured it within the organization. They also have reviewed all the employee roles and resources so they go along with the new system.
5. Creating Value within your Systems
Despite being switched to digital platforms, B2B brands have managed to give more human-like experience to their customers when making transactions. They have focused on usability and site performance so users feel more comfortable with the interface. Other factors include:
- Quick Search options
- Efficient purchasing mechanism
- Detailed product information
- Business-like Checkout systems
- Responsive designs that let customers take control of the system
- Allow customers to manage everything on their own
Many new businesses who have decided to step into the B2B e-commerce must take notes and inspiration from both B2C and B2B brands that have paved their way to success. Since B2B involves more commitment and longer relationships with business clients, businesses must be prepared to adapt changes, scalability and expansion over time.…
After Instagram’s influencer marketing campaign skyrocketed to $8billion in revenue, the growth and awareness of influencer marketing are now not limited to consumer brands and B2C businesses anymore.
B2B brands are also recognizing the importance of influencers and collaborating with people with large fan followings. In reality, it makes sense too. Consumers believe more in the word of mouth than they do in marketing messages from brands themselves. Therefore, if B2B companies can get influencer experts to carry their marketing campaign, not only their costs will go down, but also more customers will come forward.
Since B2B marketing involves large business organizations and industries, their purchases require more decision making and thought-processing. Besides that, the average purchase sizes and quantity of products are usually higher than consumer purchases so B2B companies have to ensure everything before making the final transaction. This is the reason why they give more importance to referrals and word of mouth instead of digital marketing. To add up, from recent research, 90% of the overall B2B transactions in the US are driven specifically by the word of mouth.
While most B2B brands have introduced influencer marketing into their promotional campaigns, most of them are still new to this field. Even though they do consider engaging with influencers, they are not really sure where to start from. To help illustrate things, read on below to find out five ways in which influencer marketing is drawing B2B companies towards success.
1. Influencer marketing will help Explore Micro and Nano Influencers
As a business organization, you have to keep trying out new ways to get to your audience. If you want to reach the targeted B2B buyers, you have to be authentic and find people who have a genuine fan following. Through influencer marketing, you will not only explore influencers with thousands of followers but also come across people with micro and Nano followers (1K - 10K). Regardless of the small audience, they will go easier on your budget, keep your audience more engaged and be more loyal towards your success.
2. Emphasize more on educating your Customers
One of the key traits of success for B2B brands is educating their audience. Brands nowadays are aware that their customers want content along with complete information of the products, which provides value and education to them. This is why influencer marketing, unlike all other typical types where you have to use social media or pay for ads, lets you present your product in form of a story or experience by people who are good at it.
3. Can connect with your audience the natural way
It might come off as a surprise, but influencer marketing doesn’t require perfect Instagram shots, fake reviews or exaggerated stories anymore. Influencers will connect with your audience in a natural way that none of their stories will seem fake or staged. They can form a perfect balance between marketing your service and keeping it natural and authentic. This technique will attract B2B businesses since they look for promotional campaigns that are based on genuine reviews and word of mouths before they decide to purchase products.
4. Strengthen your relationship with other Influencers
Just like business companies, B2B influencers also have a social circle where influencers from various genres meet, network and support each other. When you partner with one influencer, there is a high possibility that you will get to know others in his social circle. This will increase more of your contacts and B2B business reach.
5. Bring more Creativity to your Marketing Campaign
Most Influencers who use various digital platforms usually come up with creative ways to increase their followers. Similarly, when they promote your services, they tend to bring in innovative ideas to showcase your products in ways you wouldn’t have imagined. You can also partner with them for a boost of marketing ideas and to bring a heavy dose of creativity into your overall campaign. Creativity over time is great for attracting new B2B buyers and strengthening relationships with old ones.
B2B brands can make the most out of their marketing campaigns by implementing influencer-marketing strategies just like their B2C compatriots.…
The global B2B e-commerce market is said to be growing at an unbelievable speed, valuing 12.2 billion US $ in just 2019. According to experts, this thriving business-to-business sector will be worth 5.2 trillion US $ by 2020. With more online platforms available and easy access to technology, companies are sidelining their traditional ways of operating businesses.
Earlier in time, most B2B transactions were carried out using offline marketing strategies where trade shows, conferences, B2B exhibitions and offline advertisements played the part of connecting businesses from all over the world. These techniques, however, are still in practice but have been overtaken by most digital strategies around. A report suggests that almost 80% of businesses nowadays use digital platforms and trade sites to explore their business potential and compete alongside other competitors.
Global B2B E-commerce Space
B2B companies operative in the global e-commerce space follow two different models to carry out their businesses. Firstly, the direct model, which involves companies establishing their own platforms and selling directly to their potential buyers. This usually happens when B2B companies set up their websites or social media to both promote and sell their services to the buyer. The second model, a marketplace, is a type of a digital platform that registers a large number of B2B companies who sell their products, connect with buyers alongside their rivals. The China B2B Marketplace is known to be the largest e-commerce spaces providing tons of opportunities and eyeing attention of buyers, sellers and businesspersons from all over the world.
The B2B marketplace is now twice of what it had been predicted years ago. Surprisingly, it has also surpassed the much common B2C business-to-consumer marketplace, which had ruled the e-commerce industry for a long time. Companies now are more aware and inclined to increasing efficiencies and generating sales. One of the reasons why they are slowly ditching old systems by switching to digital platforms. Overall, when combining both B2B and B2C trading into account, the online retail and trade will jump to a massive 25 trillion US $ in five years. That is an all-time high! The major contributors will include the U.S, UK and China B2B Platforms that incur the most B2B transactions.
The Effect of Digital Platforms
The Global B2B marketplace is powered largely by technology. It started with websites, internet advertisements, social media and email marketing. Now, mobile technologies have boosted the B2B online sector even more. Trade sites, mobile apps and websites are all powered on smartphones and tablets that have made access easier, faster and within reach. With the widespread availability and affordability of technology platforms, cloud services and smart devices, companies are finding it convenient to switch to and make the transition.
The B2B marketplace globally is driven by major companies that contribute heavily to the world economy and to the e-commerce sector itself. They include Amazon, Rakuten, Mercateo, Global Sources, Alibaba, Walmart and IndiaMART. These not only operate locally but also have headquarters in major parts of the world. Just like Amazon, with its 22 headquarter has a B2B operations network that accounts to 1 billion$ every year. Besides that, Alibaba, in addition to contributing 30% in China B2B trade sites, is now expanding to India, U.S and Europe for further exposure.
These B2B marketplaces use technology to elevate their business platforms and attract more B2B customers. Other than facilitating cloud platforms, they use big data to personalize the customer experience. They analyse customers’ patterns of visiting trade sites and their demographic data to connect them with potential B2B suppliers or buyers of the industry they are looking for. Big data plays an important role in recommending customers what products to buy, what industries to invest in to and which potential B2B business will be beneficial in doing business with, based on their data and interests. Technology also lets companies directly deal with interested B2B buyers, even in a marketplace, without having the need to involve any intermediaries or using any human resource. For buyers who are miles apart, technology provides a great way to connect to them through video conferences, free calls and remote business meetings. Hence, the global B2B market is much better and commercial with technology.…
Expanding at an invincible pace every day, the e-commerce market in China has now become the world’s largest marketplaces with retail transactions accounting up to 1.99 trillion US$ just in 2019. Experts believe that the growth of businesses and retail in the country came to a halt after trade war conflicts and economic challenges, but Chinese manufacturers and B2B companies did well to cover up in the past couple of months.
The main driving force behind China’s e-commerce industry are the unwavering B2B marketplaces in the region that contribute to almost 30% of the country’s economy. With digitization and virtual connectivity all around, marketplaces have found a range of platforms to connect with buyers and suppliers, carry out transactions and network each other’s services. The type of trade between businesses or B2B dealings is expected to generate double revenues than that of B2C.
If you are a business owner looking to establish a business hold in the China B2B Marketplace, then now is the time. Find out a comparison between the best B2B platforms that you can use to grow your business in 2019.
Alibaba.com is undoubtedly the largest business platform in China and currently ranks 8th among the top e-commerce platforms in the world. Within a span of 20 years, the company has scaled to unmatchable heights and set its own standards for competitors and emerging entrants.
By 2019, Alibaba has over 8 million registered B2B business traders belonging to 220 countries and regions. The platform with a net worth of 25 billion US$ effortlessly leads the Chinese trade market helping it grow and nurture the entire B2B industry.
With its main headquarters in Nanjing, Made in China stepped into the B2B industry in 1998. Besides being a leading B2B platform, the website offers a massive medium where buyers from across the world look to connect to Chinese suppliers and vice versa. Its business model depends on a basic registration fee, value-added services, advertisement charges and certification for all suppliers who register to the platform. Out of the other China B2B trade sites, Made-in-China gets a whopping 10 million visitors every day. The B2B website is one of the emerging B2B marketplaces that will rule most of the Chinese market in the years to come.
3. Global Sources.com
Global Sources.com is a multi-channel China B2B platform that deals entirely with promoting B2B businesses through trade show campaigns, international fairs and business publications. Apart from being an online trading platform, it lets businesses network their services through publications and then finds potential business clients.
ECVV is China’s first end-to-end procurement service website that offers transparent product sourcing and delivery supply all over the world. The platform ensures high-quality product supply and clear payments at both ends. For businesses looking to connect with potential business clients for purchasing products and services, ECVV can help you find the right clients and recommend those with similar interests.
5. Export Hub
Like other B2B platforms, Export Hub is a significant marketplace in China that connects buyers and sellers from across the globe. As technology incorporates more into the business world, B2B websites have become effective, reliable and more operable platforms for B2B business managers. Similarly, Export Hub uses cutting-edge technology, skills and latest tools to facilitate the business processes between the two parties.
Export Hub, unlike other B2B marketplaces, allows clients a range of packages – standard, gold, digital and VIP, which further determines what type of buyers and suppliers they want to connect to, the market they want to target and the level of business they have to carry. The B2B website also features among the top marketplaces in China with a massive attraction from B2B buyers and suppliers worldwide.
1688.com is China’s largest wholesale and sourcing website that is developed by Alibaba.com. Its main focus lies in selling wholesale products and providing procurement services to the local Chinese B2B market and clients from across the world. The website has an e-commerce business model that assists 16 major industries in connecting them to potential B2B buyers.
While almost all of the above B2B marketplaces assist large-scale businesses and industries, Makepolo.com is especially designed to help Small-to-Medium sized businesses grow and connect to clients globally. The website has over 10 million SMEs registered in China, which it helps get exposure and promote their services to B2B businesses. Makepolo.com provides SMEs with trade optimization, timely deliveries, an extensive range of products and networking opportunities.
With its headquarters in the Chinese business hub, Beijing, HC360 is a well-known B2B marketplace that enables trade connections between two businesses. It incorporates technology by using digital sales and marketing, SEO techniques and B2B trade websites to make business services easier and more accessible. HC360 has both an online and offline platform to facilitate users for B2B networking.
The above-discussed B2B marketplaces in China make up 70% of the B2B industry in the region. With the transformation and emergence of technology, this marketplace is expected to revolutionize the prospects of the entire e-commerce market and trading cycle globally. It not only powers up the local industry but also contributes to the global market, boosting economies and trade opportunities of buyers and suppliers worldwide.…
If you were a business entrepreneur, then you’d know the true importance of promoting your business to B2B clients. It is not just about finding the right audience but also persuading them that the services you offer are better than your competitors. Businesses that fail to make an impact usually lack the right marketing strategies. On the other hand, well-designed and planned stratagems ensure long-term revenues and profitability for businesses.
Nowadays, with digital marketing leading the marketing era, businesses prefer to find their B2B audience online since 80% of their clients have access to digital platforms and smartphones. However, despite the increasing trend of technology, offline marketing channels such as tradeshows and conferences still continue to be a relevant source for promoting businesses. Both offer massive opportunities for networking and even if you’re a beginner or not intentional about it, you will still have a chance to meet new people, make contacts with the industry giants and get your business word out.
Read on below both in detail to find out which one is best for promoting your business:
A tradeshow is an exposition where companies from a specific industry demonstrate their latest products and offerings. Tradeshows or B2B exhibitions are specifically organized for businesses to showcase their products to both the customers and audience from the industry and rival companies. When you are at a tradeshow, you will see different companies selling their products; convincing their audience and demonstrating live in front of them.
For companies promoting their business, tradeshows can very useful. With a large number of audience belonging to the same industry, you can easily find B2B clients that can make decisions right in front of you. Furthermore, when you meet a decision-maker, you will have greater chances of convincing him to buy your product instead of doing it on a text or call. This is why face-to-face meetings can have a stronger impact.
Since Tradeshows happen on a larger scale, its audience includes journalists, marketers, bloggers and people from the media industry. They are usually the early adopters who are keen on spreading your business idea and new trends. This is how you can get more exposure and free marketing for your products.
Lastly, tradeshows let you meet the competition. Once you invest in a booth, you will need a strong marketing team to convince hundreds of people who will come have a look at your stall. Through a tradeshow booth, you can not only get the right eyes on your product but also keep a track of your competitors, their new products and the trends they are bringing into the industry.
A B2B conference is a more formal setup where experts from the industry gather to discuss the new ideas and problems related to their products. When we say conferences are formal, this is because they involve professionals, speakers and experts from the industry and not the general audience. Through a B2B conference, you can promote your business by speaking about it since most conferences involve long seminars and speaking sessions.
Besides that, conferences spark new ideas and solve challenges that companies belonging to the same industry usually face. If you are a new business and don’t have enough contacts, a conference is the best place to get started. You won’t have to deal with the public or informally explain the services, it will just business networking and to-the-point conversations.
If you are someone who hates networking, conferences can still be your chance. Unlike a trade show, you won’t have to stand on booth facing people all day. You can take breaks, target whom you want to speak to and then do the professional talk.
Both B2B conferences and B2B Tradeshows have their own pros and cons. They can both be important channels for business networking despite the strong influence of digital marketing. For companies that are more mature and require exposure, a tradeshow will be the perfect place to network. Meanwhile, for small start-ups that target a specific set of audience, attending a conference can be beneficial for turning leads into customers.…
Regardless of how much the internet has taken over the business of marketing, trade shows still exist. In fact, for many industries, attending a trade show is just as mandatory as any other business meeting.
Trade shows hold a very important place in the growth and development of a Business Company. Every year, a large number of industries participate in Trade shows worldwide to exhibit their services and share ideas with industry giants. Trade Fairs not just pave opportunities for B2B networking but also allow exhibitors to find potential customers through live interaction.
However, when it comes to meeting their objectives, several business companies fail to put up a strong impression on their audience. Find out the top five must-have objectives that you should follow before going into a trade show:
- Choose the Perfect Representatives
You can’t just set up an exhibitor stall and expect visitors to come to you. Your attractive booth will not attract and convince customers, but the right representative will. You must select someone who fits best for the job, is keen to represent your brand among a large number of attendees.
Most B2B trade shows require live demonstration and display of services, so pick someone who is equally good at marketing your services and has proper information regarding the technicalities of the product. On the other hand, training your representatives can help you set a strong impression over the exhibitors and increase your real-time product sales.
- Arrange Giveaways
Everyone loves free stuff. It is one of the most effective strategies of inviting people to your stall. However, if you want to optimize your sales, arrange giveaways in exchange for product purchases. You can also ask people to follow your social media, participate in competitions and challenges in exchange for free services. This way people will also be motivated to buy products at your booth.
Giveaways can also be used to encourage more B2B interactions and can bring up more people at your booth increasing your chances of finding potential buyers.
- Engage with your Audience
No visitor is interested to buy products from a boring stall. Unless you don’t have a meaningful conversation with your audience, there are very fewer chances of you luring them into making a purchase.
Interacting and socializing with your visitors is key. After attracting them up to your stall, make sure you convince them to stay longer and eventually end up buying your product. Some ideas that can help grab the audience’s attention are:
- Having Interactive media devices
- In-booth Presentations
- Live Product demonstrations
- Doing rounds of exciting game or competition
- Introducing Prize Wheels
- Booth Tours for the visitors
- Entertainment options like inviting a magician
- Charging Stations for free
- Challenges and Mind-blogging Activities
- Walk-in Interviews
- Career Counsellors for young entrepreneurs
- A refreshment lounge
- Gifts and giveaways
When attendees visit your booth, make sure to register their details so that you can approach them later for follow-ups and marketing. Staying connected with your customers even after the trade exhibition will show them that you care. Also, you can stay in touch to keep them updated about your future offerings, new products and feedbacks. This good gesture will help customers remember the interaction, your brand and services for a long time until they become your regular customers.
- Building your Brand Awareness
Brand awareness is necessary before you expect visitors to purchase your products. Make sure to use the trade show as a platform where you can not only interact with people but also spread awareness about your products. A few things you can keep as an objective are:
- Is your brand marketing consistent on both the website and on display?
- Will you communicate with your customers’ post-trade show?
- Are you creating a memorable experience?
- What impression do you want your customers to leave with?
- Are you better in competition with other exhibitors?
- Do customers know everything about your product
When you think you have answered them as a company, you will be able to know what you have to do to attract more visitors and increase sales.…
With an aim to increase brand awareness and reach out to potential clients, the concept of trade shows is now on an upswing. Many businesses use these trade events as a marketing strategy to enhance their product knowledge, launch new products and involve more and more customers into their working mechanisms. You wouldn’t believe nearly half of the total revenue from b2b trade shows in the US alone, is sourced from attendees’ registrations while another half comes in from the exhibition sales.
Over a thousand companies from across the globe participate in trade fairs annually. Be it the electronics, technology, fashion or clothing; each industry attracts a massive crowd of audience.
Moreover, each year, the sales potential grows invariably. According to an estimate, 82% of trade fair visitors are directly involved in real-time purchases. Whereas, the other majority has reported these events to have a positive impact on their purchases, giving them the confidence to buy in the future. After a survey carried out in America, 80% of the attendees decided to purchase the products right away because they sampled or saw a live demonstration of the service. Meanwhile, some 57% stated that a better understanding of the product during the event influenced their purchasing decision.
Top Ten Event Stats You Should Know
1. Eighty-Four% of the Business leaders believe face-to-face events are more impactful to their company’s success.
We agree that too. When the company representatives are able to speak to attendees in person and get to know their requirements, there are high chances of them working on what the audience likes to buy more.
2. Sixty-Eight% of the marketers agree that live trade shows help generate most profits.
No doubt it does! As we stated above, a trade show with a live demonstration of products and services tends to attract more audience and hence there is a higher probability of them making a real-time purchase.
3. Forty-One% of business managers believe trade fair events are one of the major effective marketing mediums for businesses nowadays.
While social media marketing and the internet are one of the biggest sources of online marketing, many experts still count on the power of trade shows and their live product demonstrations to promote businesses.
4. Thirty% of businesses spend 20% or more of their budgets on exhibiting and participating in events.
With the success and awareness of trade shows every year, businesses are keener on utilizing more of their budgets on exhibiting in yearly trade fairs.
5. Seventy-Seven% of marketing managers use experiential marketing to promote their brand’s strategies.
Marketers believe that customers are more likely to purchase their product/ services when they experience it live. Through trade shows, companies have a better chance of interacting with their potential customers and engage them to live in their service.
6. Twenty% increase in purchases has been witnessed during live events as compared to the last two years.
As more attendees are turning over in trade shows, the return of investments for companies has also increased since customers have started involving in real-time purchases.
7. Thirty-One% of event managers believe trade exhibitions and conferences are significant when doing business to target customer markets.
Since most trade shows permit only audience or professionals of the same working industry, companies have a greater chance to target customers of their particular industry. For instance, the CES witnesses audiences that belong to the technology and electronics sector. This way, the participating companies can easily demonstrate and workshop their services to the target market.
8. Forty-Seven% of marketers strongly believe that trade events are a very efficient and operative way to reach multiple customers. They also feel interacting them in one-on-one conversations and through seminars gives their business a good prospect for the future.
9. Fifty-Five% of business meetings and product activities in America and Europe are in the form of either conferences or trade shows. Experts believe when businesses of the same industry come down under one umbrella, the economy gets benefitted overall.
10. Eighty% of trade show exhibitors don’t take any follow up with their show leads.…
Trade shows are a way of bringing together associates of various industries to display, establish and discuss their newly launched and upcoming products and services. They are held every year in major business hubs and cities and last for several days.
A few trade events that become the highlight of each years’ news and electronic media include the Book Expo America, Consumer Electronics Show, America’s Largest RV Show and the South by Southwest (SXSW). While many shows aim to target a maximum number of attendees, a few permits only members and professionals of the particular industry to attend.
As we head into the last quarter of 2019, marketing managers and business owners express their optimism for the economic revenues surpassed in the current year. If you are also an entrepreneur who is serious about maximizing their profits and returns, then a strong presence at the industrial trade show is necessary. According to facts, eighty-five percent of your target audience can be found in b2b trade shows and ninety-one percent of them can turn your fortune around if they shop in real-time. That is the kind of positive impact a trade show can bring.
Overview of the Tradeshow Industry 2019
Shedding light on the trade shows held in the past couple of months proves 2019 has been much better in terms of ROI and budgets. The experts believe that despite the improvements, a lot of attention needs to be paid to make more substantial trade show investments and trade fairs an accessible platform for smaller industries.
When compared to 2018, many exhibitors have also shown more confidence and hope with public responses, an increase in spending, and allocation spaces provided to them. Nevertheless, fair amounts of marketers are still cautious over investing in exhibitions and trade fairs over lower attendees’ turnovers.
The year 2019 started with stock-market gains, then a slight free fell after trade wars, high tariffs and interest rates sparked a possible fear of economic recession. The reason why forecasts for later part of 2019 are mixed – some are predicting a rebound while others fear the worst.
What do the facts say?
When comparing the facts with 2018 and 2017, this year marketers are receiving more budgets from their respective industries/ upper management. For instance, just last year, seventy-seven percent of the respondents reported an increase in their trade show allocations in comparison to the previous year. Consequently, this year, in 2019, the number has climbed to eighty-four percent with more than ½ of the industrial giants and companies are experiencing a surge in their exhibition investments. This has moreover, proved to be a positive sign despite the entire down surge we have seen economically in the past couple of years.
Not just that, it has also brimmed up more hope and optimism in businesses to take part in trade shows while giving them the confidence to put stronger demonstrations in the coming years.
Consumer Electronics Show
Let us take the example of the Consumer Electronics Show 2019. This year, it took place in January in Las Vegas. With 4400 exhibiting companies, the biggest technology and innovation showcase paved the way for other trade shows and exhibitions for the entire year. The four-day event saw an audience between 182,000 and 200,000, conquering a whopping space worth 2.7 million square feet. The massive participation of electronic and tech companies led to increased optimism among the exhibitors, giving them a major boost in profits and return of investments.
The exhibitors not only got a chance to interact with the live audience through tech-talks, seminars and workshops but also got to demonstrate their ideas for artificially intelligent future. After the impeccable success, 9 out of 10 respondents left the trade show with self-reliance to be more productive and impactful on their clients next year.
In conclusion, we believe the future looks hopeful and bright. The experts, after the feedback from both the respondents and business owners, feel that there will be improved execution, profits, and retrieval capabilities in the coming years. This will also provide platform opportunities for emerging businesses and industries and pave ways for better results and improved return of investments.
Businesses compete on different aspects to connect with their customers, and this lets marketers go through every touch point it takes to converse, interact, and develop trust with their prospects. Though having an online presence is crucial, nothing overdoes the effect of a face-to-face meet up at business events or B2B trade shows.
B2B marketing events consume about 24 percent of total annual budgets, which makes it easy to understand why marketing events are so effective. Since the internet offers limited control of human connection compared to in-person interactions, trade fairs give people an open opportunity to explore new services, products, and solutions. Since events are expensive, giving it a digital makeover can boost your gains.
1. Pre-Event Marketing
Before hosting any businesses conference or trade fair, it is vital to schedule it and add it into your business marketing plan. It will help you make the event more than just a one-day interaction as well as stimulates engagement with those who may not attend it in-person. So, planning pre-event marketing ensures you get enough time and resources to make the most of each event.
The engagement you build before the event is essential to attract relevant leads to your event, and to your booth eventually. This is the most important step to expand your pre-event reach, instead of just having a big crowd passing by your booth or seeing your existing database of clients. Everyone you contact may not be attending the event, but it offers a great way to showcase the interactive strategies you have developed for the show to a broader audience by providing a source of connection even outside the event.
2. Use Event Technology Beforehand
As a part of marketing your event in advance, offer attendees an app or online management tool where they can register for the event or just click the interested button to show that they will come. It will help you gather their information and customize your strategy according to their interests to convert them in loyal leads.
If you have gathered information through a social media platform like Facebook events or Twitter, make sure you recognize as many people as you can in the event to create a comfortable vibe for the attendees. It may sound creepy a little, but for business, people love when someone remembers them through social platforms. When the business event is over, don’t forget to contact them using the information you have collected to enable sales and build valuable relationships.
3. Invest in People
Understaffing is probably the worst mistake you can make for a B2B trade show. You will see how fast you lose engagement simply because you have not employed enough workforce to manage the booth, facilitate conversations, and answer the questions, and so on. To do so, consider the size of the event.
It is not about just hiring as many people as your even marketing budget can afford; it’s about hiring the right people. Invest in trained short-term promotional staff with a related background as your product or service to get effective results in the form of conversion, leads and sales.
4. Share Experiences to Boost Engagement
In trade fairs or business conferences, issue online surveys to encourage real-time feedback on your presentation so your attendees can actually feel engaged with the event. Gather the data using management tools on social media and showcase it in one dashboard, share results of live-polling on a screen, display online interactions, and use this information to target and reach new prospects and market your upcoming fairs.
5. Get Your Success Metrics Right
It is bizarre to measure every aspect of event marketing in sales. Take this opportunity to test new products, do competitive analysis, and build good relationships with customers. Sales are important by the end of the day, but only relying on your sales metric may not be enough.
Focus on what else you can do or invest in to build more engagement in the event to cross-sell and upsell the opportunities.
6. Incorporate Promotional Props
Add promotion materials in your event marketing strategy to attract maximum attendees. Promotional stuff doesn’t have to be something expensive; you can go with USB cables, water bottles, refreshments, t-shirts with your logo, fidget spinners, shopping bags made out of sturdy fabric, or anything you can get creative with, especially if you know the age group of your target audience. It is essential to create a balance, so neither go too cheap nor too large.
7. Post Event Marketing
When the trade fair has passed, and you have achieved a higher engagement rate, follow up with any leads you have collected in the event. A simple approach can be sharing your articles or press release about the event via email or make a phone call for feedback. You can also track your prospects down on social media as a simple and effective approach for sparking a conversation. Finally, keep up with any follow-ups that show progress and induce further insight into your B2B trade show ROI and lead conversion.
B2B trade shows are all about connecting with people, learning new things, and spreading brand awareness, but eventually, all of it is directed towards generating revenue for your business.…
“The cynic would say that selling is more important because the best sellers have the most buyers, no matter what he’s selling.”
You might have heard this fabulous dialogue of Elastigirl from the movie ‘The Incredibles 2,’ which is practically applicable to the real world.
You neither need to have the best product, nor the cheapest rates. You don’t need to provide the best services either. All you need to succeed is to be the best seller.
We all know that doing good SEO on your website with an excellent content strategy are the main factors in B2B lead generation. However, it usually consumes quite some time as well as resources that you may lack, perhaps.
A lead is not a random client, but the one who is just a step away. They might not get to you, but you need some sales skills to grab his attention, add value to what you offer and provide solutions with your services to ease their business hassles.
Generating and preserving quality leads is the ultimate backbone in the B2B platform to strengthen your sales pipeline and ensure you maintain a stable rate of growth. A mix of inbound and outbound tactics is typically the most suitable way to set up this pipeline, where outbound is an easier, a more natural, way of making connections with leads, and inbound can do the benefit for creating credibility, generating more qualified leads.
Here are some of the most effective ways of lead generation in the B2B market.
1. Set up a Personalized Email Campaign
Ditch the automated emails and use your voice to make your email speak to its recipients, even if you need to use a formal or a casual writing style with emojis, slang or GIFs. The soul of your information doesn’t have to change in the email; the delivery mechanism does!
When you are sending thousands of emails in a day, you don’t have to sound automated if you are not using any tool. So, if a human is writing emails, it must sound and feel human, to create comfort in conversation. If the reader feels comfortable in communicating with you, you have higher chances to get the deal.
Don’t forget to use CTA in the signature. In terms of having a comfortable conversation, giving CTA at the end of your email will work wonders to get the client to contact you directly. You can even link your best content or primary landing page in it.
2. Content Marketing
A fantastic approach for businesses is to have interactive and interesting content to share like articles, infographic, videos, and much more. Do thoughtful research to determine the type of language and tone you must use by knowing what entertains your target audience.
To engage your target audience, you need to learn about their interests by using the standard demographics to provide them with high-quality content. This won’t just help you with lead generation but also enables you to boost your website’s SEO. It’s all about elevating page view rate so more potential leads can find your brand through search engines.
3. Speak at the Events of Your Industry
Attending trade shows and conferences can be of great benefit to significantly enhance your credibility being an authority in your field. Moreover, you’ll also get exclusive attention to the relevant audience, offering you a great platform to impress.
So if you get invited to address at an event, agree to it.
4. Social Media Marketing
Social media a more refined approach to lead generation, allowing for a more precise and targeted way of marketing. Social platforms like LinkedIn are proven to be useful in lead generation. It provides businesses with a pathway to engage and entertain prospective clients.
Advertising on social media is highly effective, as it is quite rare to find someone who doesn’t use Facebook, Instagram or Twitter. Social media ads are precise as you can set up the demographics of your relevant audience, like age, gender, location, and interests.
While it’s excellent, generating leads on social media isn’t that easy and takes time, effort, dedication, and a well thought out strategy.
5. Enhance Your Inbound Marketing
An exceptional inbound marketing plan depends mainly on a blend of intensive SEO and excellent content. Inbound marketing is cost-effective, and 60% less expensive than outbound leads. Content functions as a great conversion tool by attracting and keeping your business’s target audience coming back to you. Including a call to action option and internal linking can entice your readers to learn more from you and stay in touch. You can generate a variety of content like blogs, guest posts, whitepapers, infographic, and so on.
An effective SEO strategy is a must-have for every B2B platform, as it is a great way to enable your business to get found in the search engines by your relevant audience. Make sure you use the keywords that make your brand stand out among your competitors in the industry. However, using the right keywords isn’t the only approach to make your SEO effective. Use appropriately formatted URLs, original titles and Meta descriptions for webpages. Also, make your website mobile friendly so can see traffic from all devices. The list is vast, and so are your chances to make your mark with your sales skills.
A quality lead generation strategy is a finely balanced mix of both online and offline methodologies. Be accurate when optimizing your lead generation, but don’t overdo it. Be more active and vigilant in implementing things that can work, instead of those who don’t.
Lead generation is a challenging task, yet the most important one for any business. So, don’t overlook it!…