3 Reasons B2B Companies Struggle with Client Acquisition Strategies
Growing your company in a meaningful way requires more than great branding, new websites and fancy offices. Many B2B companies pour energy into sales and marketing tactics that miss the mark. The challenges you face now are more difficult than they were last year, 3 years ago or 10 years ago. The longer you stay in business the tougher it gets to compete and acquire new clients.
A successful client acquisition strategy has to begin with an honest assessment of your company. You have to be willing to face hard truths. According to a Gallup poll, 70% of B2B customers are either actively disengaged or flat out indifferent towards companies like you. In other words, they could leave at any minute. They are not committed to the services you provide.
Since we know that your current clients are at risk of flight, your new client focus has to be effective.
If you’re being honest then you can probably agree that there are 3 main reasons why your B2B client acquisitions are a struggle.
And The Three Reasons Are…
- You are Missing Key Data Points between Sales and Marketing
- Your Sales Team is Overly Focused on Taking Orders from Existing Clients
- Years of Product and Service Expansions have Resulted in Poor Positioning and Mixed Messaging in the Marketplace
Missing Key Data Points between Sales and Marketing
79% of marketing leads never convert to sales in the B2B world. Before you allow marketing teams to blame sales and sales teams to blame marketing, look deeper. Many companies employ B2B marketing tactics because of what their industry is doing and don’t stop to consider testing ideas that can scale and repeat. Great marketing can tie marketing tactics to actual sales outcomes. If there is no math before marketing, then you can’t attribute what’s really going on between your marketing efforts and sales results.
Sales Teams Focused on Taking Orders
Legacy B2B companies have many advantages in the marketplace including being able to attract and retain salespeople. Loyal sales members have extensive product knowledge and can develop strong relationships with their clients. That said, there are also drawbacks. Many B2B leaders complain about the fact that sales are so focused on taking orders through ongoing client relationships that they neglect prospecting for new business.
Poor Positioning and Mixed Messages
It’s a common practice that B2B companies that have reached a plateau in sales will turn their attention to acquisitions. Although the strategy can provide a boost to the bottom line, it usually results in problems with combining the old and new brands. Marketing messages can get complex. Integrating the brands oftentimes makes it tough to position you vs your competition and your communications plans confuse the public. It takes discipline to make decisions that commit to growth in the right way.
Be Growth Focused with your b2b Client Acquisition Strategies
When you’re experiencing conditions that hinder your ability to acquire new clients, it is imperative to look into new thought leadership. Establishing strategies that are smart and transformative are ideal. Valve+Meter Performance Marketing is creating a series of webinars to help you transform your B2B company for greatness. Our leadership team is focused on helping companies manage the impact of our current environment with Recession Proof Marketing.
Learn more and register for the free webinar today.