5 reasons why digital media is a hit for B2B advertising than for B2C advertising?
Since most of the B2B transactions are contractual with limited number of potential customers, emphasis on advertising in B2B was rare. Ever since digital media has emerged as a powerful force, B2B companies are making their digital media presence like never before. Digital media has emerged as an opportunity for B2B to reach their target audience more efficiently than before.
And there’s more to it!
1. Immediate feedback
As it is easier to access more and more data through digital media, you can chose the data of relevance to target and retarget. Because of the availability of tools it is even possible to know how well your marketing strategy has performed as you can track the amount of engagement with trackers placed at sites of audience engagement like in registration links, landing pages etc. There is an immediate feedback on every strategy employed to engage your potential customers.
2. Because your business needs presence everywhere
As B2B is all about building customer relationships and nurturing them, it has become a necessity to reach people where they are spending most of their time. As telecalling is facing severe restrictions due to data protection regulations, the audience should be reached by other means. B2B is making its digital media presence for not just building and nurturing relationships but also to be consistently visible everywhere your audience is.
3. Can Know and target your Customer better
There is a lot of information about your customer available online which is why you can now better understand your customer. It is in fact more feasible for B2B than B2C to access the audience through digital media as the audience to be targeted isn’t massive like in B2C. B2B target can be narrowed down to a level where it is possible to make yourself visible to a large percentage of your target audience unlike B2C.
4. Within relatively small budgets
B2B marketers have always had relatively small budgets set aside for advertising. According to CMO Survey, they spend 6-9 percent of company revenues on marketing. While it takes a huge sum of money to advertise in traditional media, it is relatively cheaper to advertise in digital media. Your customers get the relevant ads and you get the relevant customers!
5. More revenue
mckinsey.com claims “Our research is clear: by investing in a targeted set of digital capabilities and approaches, B2B companies can improve their financial performance—and not just by a percentage point or two. Rather, the B2B companies that master these areas are generating 8 percent more shareholder returns and a revenue compound annual growth rate (CAGR) that is five times greater than the rest of the field.”
It is high time for B2Bs to increase their digital marketing budgets to compete with their peers who have already been there for a longer time. It does not mean that offline marketing can be kept off. It’s the combination of both that drives results. Digital media is just widening your horizon. But it requires a lot of resources and time to be consistently visible on digital media. Channel Technologies expertly builds a consistent and engageable communication at digital platforms to gather audience. Visit here, to know more about the services that Channel Technologies offers.