Key B2B Marketing Trends to watch out for in 2021 and Beyond

The only way for businesses to survive 2021 is to embrace the ongoing digital

transformation. Recovery as well as growth for any organization in the post-pandemic era

depends on how well they utilize the available marketing strategies. As conventional

outbound marketing strategies are no longer 'safe,' digital sales and marketing strategies have witnessed a huge acceleration.

Although, this shift is not new since B2B marketing had already been on an evolutionary path since the internet services reached the masses in around 2008 and people actively began using search engines. However, the infamous COVID-1 pandemic precipitated the process of digitalization in marketing. This sudden shift has uncovered numerous opportunities in the field of marketing. 

Here are a few B2B marketing trends to watch out for in 2021 to prepare yourself for the

future of marketing. 

1) AI-Powered Marketing

Underestimating the power of Artificial Intelligence (AI) in 2021 can prove to be a huge

mistake as this so-called "4th Industrial Revolution" is famous for being much more efficient and smarter in streamlining almost all marketing and routine tasks. Although only a few industry leaders at present can understand and afford to use Artificial Intelligence

technologies, the rapid growth in technology has pushed more organizations to plan and

evaluate the implementation of AI for their businesses.

Understanding the latest AI-Powered marketing trends like Client Insights, Personality Insights, Buyer Intent data, Predictive Analytics, Lead Scoring, etc., can help you tap the available opportunities and aid in devising personalized marketing strategies that can allow you to stay ahead of your competitors.

2) Account-Based Marketing (ABM) Approach 

Account-Based Marketing (ABM) is a dominant strategy that can revolutionize the processes

of sales, marketing, and customer satisfaction. ABM is based on account awareness in which

an organization considers and communicates with individual prospects or customer accounts

as markets of one.

According to a research from Terminus, only a small percentage of businesses are implementing ABM optimally. 8% of businesses are still in pilot mode and 43% are in the early stages of implementation. But only 13% say their sales and marketing teams are fully integrated into their ABM program. ABM's focus on revenue instead of leads makes it a customer-oriented strategy that aims to protect the existing revenue base. This shift in focus from customer acquisition to customer retention has enabled organizations to generate revenue even when their budgets have tightened. 

3) Use of Video Content

With an increase in online marketing strategies, video content has proved to be one of the

best ways to garner public attention and disseminate information about a particular product or service. However, video content is not just limited to B2C sales. In a study by LinkedIn in

2018, around 62% of B2B marketers voted for video content to be their preferred choice.

Other formats like e-mail and infographics trailed behind it in the list as they could not match the popularity of visual content. Organizations can focus on creating relevant and unique video content like Television ads, videos, etc. to engage, educate and shape the opinions of their customers through visuals. 

4) Buyer Enablement

Buyer enablement helps buyers buy by providing them with the right information that can help them navigate and support the completion of critical purchase activities. In a survey of more than 250 B2B companies by Gartner, it was found that 77% of them rated their purchase process as extremely difficult or complex. This complexity of making a purchase decision can be attributed to the availability of high-quality information to buyers in abundance.

Every new information instils a sense of insecurity and the buyer revisits his decision to arrive at a logical conclusion. Buyer enablement can be seen as a much-needed support system that can help buyers make informed purchasing decisions. By creating buyer- centric content, an organization can create a buyer-first world. By reducing any kind of friction along the buyer's journey via phone, email, live chat, social media, or website, a company's buyer-centric approach can become its most valuable marketing asset. 

5) Omnichannel Marketing 

To form a unified customer experience, omnichannel marketing aligns sales efforts with marketing across all distribution channels. It makes use of multiple channels to tap the various prospects available at every stage of the sales funnel. It makes sure that the audience gets a chance to engage in relevant interactions and feedbacks to improve the engagement with your brand across different channels- physical as well as digital. This type of marketing ensures that a customer has a positive and consistent experience on each channel by offering a consistent and identifiable brand tone, personalized messaging based on specific interests, and a chance to find and purchase online, in-store, or a combination thereof - such as “buy online and pick up in-store.”

Conclusion

The only constant in the world of marketing is the changing trends. By keeping an eye on the

new trends, an organization can gauge the available opportunities or threats effectively.

Growing demand for customer experience management has encouraged companies to adopt novice strategies and many hyper-personalized marketing strategies to drive

conversions. Since customer spending altered drastically in 2020 with a similar trend in 2021, embracing marketing changes and digitalization is the only way to move forward.

Understanding Invisible and Cultural Marketing with Clotaire Rapaille

Tom Fishburne once famously said 'That the best marketing doesn't feel like marketing.' And honestly, he couldn't be more right!

In this fast-moving world of business and technology, consumers often find themselves in awkward situations when they realize that all these exhausting marketing strategies continuously influence and mould their choices, lifestyles, and purchasing activities. As a result, modern customers have become immune to the thousands of marketing messages and tactics that are designed to "attract" attention almost every day.

So what's the better way of telling your prospective customers about your product/service?

Simple.

Show, don't tell!

It might surprise you but some of the best marketing is actually invisible!

Invisible Marketing

Invisible Marketing refers to the messages that we don't see. It focuses on the customers' emotional response to the message received by them (which are not explicitly stated). Invisible marketing is based on the principles of behavioural economics that discuss the three elements of decision making - Triggers, Frame, and Fuel.

One such example of Invisible Marketing is Cultural Marketing. This type of marketing combines the demographic knowledge of consumers with cultural insights to establish an effective marketing strategy. An important aspect of cultural marketing includes the process of understanding the behaviours and assumptions of customers and identifying the opportunities for growth and cultural shifts.

Nestlé in Japan

To gain a better insight into invisible marketing and cultural marketing, let's take a look at the famous French psychologist, Clotaire Rapaille's strategy for Nestlé in Japan.

In the 1970s, Nestlé envisioned an opportunity to enter the booming market of Japan with its star product Nescafé. However, Japan's cultural inclination towards 'Tea' turned out to be a huge challenge for the coffee selling giant. After several failed attempts, Nestlé decided to rope in the famous French marketer Clotaire Rapaille with the hope to enter the Japanese market.

And surprisingly, Clotaire Rapaille's strategies were not only successful for Nestlé's business but also a breakthrough in the field of Cultural Marketing.

But how did he do it?

After conducting several sessions with ordinary Japanese people, Rapaille found that the Japanese had no emotional connection to coffee and hence advised Nestlé to introduce coffee flavours in candies for children, to create an “imprint”. These candies proved to be the key to the hearts of the Japanese as the candies inculcated a positive emotional response towards coffee which opened the gates for Nestlé in Japan.

Today, Japan is the world’s fifth-largest importer of coffee with Nestlé being the market share leader. And all this was made possible because of a single marketing idea which quite obviously... didn't feel like marketing!

Now that you are introduced to the power of Invisible Marketing and Cultural Marketing, it's time to employ it for your business! The correct market strategies that follow an exhaustive marketing process could be the first step to your future success story!

Are your customers in an emotional ‘relationship’ with you?

Cambridge dictionary describes branding as “the act of giving a company a particular design or symbol to advertise its products and services.” However, the meaning of the word ‘branding’ today, is not just limited to visual aesthetics like logo, name, design, etc. Over the years, the term ‘branding’ has acquired a myriad of meanings and connotations that reveal that it is a perpetual process of establishing an identity in the stakeholder’s minds. It won’t be wrong to say that branding is one of the most effective business strategies in today’s business world that moves beyond visual identity.

Emotional Branding

Emotional Branding can be understood as a practice of building brands that can appeal directly to the emotional state, needs, and aspirations of the consumer. Various corporations

use Emotional Branding to build a deep intrinsic relationship with their stakeholders and create an identity in their minds which evokes emotions such as nostalgia, love, companionship, or any other feeling of bonding.

Because “emotions are energy in motion”

A star-clad advertisement policy with a perfect amalgamation of affordable price is what 'Lux' chose to establish itself as an 'Emotive Brand.' Lux is one of the 'Power Brands' of Hindustan Unilever Ltd.’s varied portfolio. It was launched in 1916 as a block of laundry soap in the USA and entered the Indian market in 1929. Its purchase decision by customers is based on emotions- the desire to look as beautiful as their favorite stars. Moreover, the low-price strategy has helped 'Lux' to become a household name, making it a market leader in the Soap Industry in India, Brazil, Thailand, and South Asia.

Why you need Emotional Branding?

Emotional branding is critical in marketing products and services as it directly impacts the process of choice and decision-making for an individual, making it one of the best business strategies in today’s competitive world. When coupled with other business strategies, Emotional Branding has the power to create a loyal customer base that wants to re-experience the feelings invoked by your business, hence, initiating the growth of demand for your product/service in the market.

Digital Marketing and Emotional Branding

With the advent of technology, connecting with customers has become a lot easier. Through social media and other online platforms, businesses can now initiate two-way communications with their existing and potential customers instantly. A robust digital marketing strategy consisting of interactive and informative content can help your business grow more and create a loyal customer base for your brand.

So, if now you are convinced about the power of emotional branding, it is the perfect time to take the first step towards it. Through Digital Marketing strategies, you can take your business to the next level and connect with your existing and potential client base like never before while creating a brand that has a special place in the hearts of your stakeholders.