Growing your company meaningfully requires more than great branding, new websites, and fancy offices. Many B2B companies pour energy into sales and marketing tactics that, unfortunately, miss the mark. The challenges you face now are more difficult than last year, three years ago, or ten years ago. The longer you stay in business, the tougher it can become to compete and acquire new customers.
A successful B2B customer 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 actively disengaged or indifferent toward companies like yours. 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 focus on acquiring new customers has to be effective. If your B2B company is like many others, there are three main reasons your B2B customer acquisition strategies are struggling.
And the Three Reasons Are…
You’re 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 for blaming marketing, look deeper. Many companies employ B2B marketing tactics because of what their industry is doing, and they don’t stop to consider testing ideas that can be scalable and repeatable. Great marketing can tie marketing tactics to actual sales outcomes. If there is no math before marketing, you can’t attribute what’s going on between your marketing efforts and sales results, no matter how well you’ve selected your B2B channels.
Your Sales Teams is Focused on Taking Orders
Legacy B2B companies have many market advantages, including attracting and retaining salespeople. Loyal sales members have extensive product knowledge and can develop strong client relationships. That said, there are also drawbacks. Many B2B leaders complain that the sales team is so focused on taking orders through ongoing client relationships it neglects to prospect for new business.
You Have 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 boost 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 your company versus your competition, and your communications plans confuse the public. It takes discipline to make decisions that commit to growth correctly.
Be Growth-Focused with Your B2B Customer Acquisition Strategies
Looking into new thought leadership is imperative when you’re experiencing conditions that hinder your ability to acquire new clients. Establishing strategies that are smart and transformative is ideal. If you’re having trouble growing your business and acquiring new clients, the marketing professionals at Valve+Meter can help. Contact us today to request a free marketing analysis.