Is your B2B marketing budget working as hard as it can?
Here are five ways to increase the impact of your marketing spend:
Add Public Relations to the Marketing Mix:
Public relations (PR) goes hand in hand with marketing and can raise your business profile in authentic, meaningful ways. Effective B2B PR strategies include ghostwritten thought leadership pieces in industry publications, PR and media training for your executives and team, and owned media like an elevated company blog. These PR additions can position your employees as subject matter experts and establish your business as the go-to source for your customers, boosting the value of your B2B marketing budget.
Switch to a Retainer for B2B Marketing:
Monthly retainers allow companies to plan more effectively and operate more efficiently. Developing new piecemeal engagements each time you need work done creates time waste and operational hassle, and it’s harder to plan your quarterly spend. On the agency side, retainers allow the creative team to dive right in on your project and deliver completed work faster, rather than waiting for yet another contract to be signed before getting started. The agency team also gains a deeper understanding of the nuances and details of your business over time, making ongoing work more and more efficient.
Know What to Measure:
It goes without saying that metrics are important for determining the effectiveness of marketing spend. Still, it’s surprisingly common for organizations to overlook some key proof points. Increases in favorable media mentions, editorial reach, brand voice, reputational metrics, and keyword searches all indicate that your marketing is working. A marketing agency with the experience and tools to align your marketing efforts to the right metrics can give you a clearer picture of results and validate B2B marketing spend.
Leverage LinkedIn as a Marketing Tool:
LinkedIn is an underutilized marketing opportunity for B2B companies. It’s responsible for half of display ad spending and the majority of B2B leads from social media channels. It’s more likely you will find qualified leads and ideal clients on LinkedIn than via general search engines, where the audience is less targeted. LinkedIn is also more cost-efficient than many other marketing channels.
Understand the Costs of Cost Cutting:
All businesses face belt-tightening at some point, and sometimes this is unavoidable, but it’s important to understand the costs of marketing cost cutting. If your competitors are marketing when you pull back and go quiet, you can lose business in the short term and brand awareness over the long term. Customers also want to know that your business is stable, and consistent visibility can signal stability and help maintain customer trust.
For more than 35 years, Winger Marketing has been elevating brands through strategic marketing and powerful public relations strategies. We stay on top of industry changes and the latest marketing tools while maintaining a foundation of core best practices that lead to measurable results. Reach out to schedule an exploratory call to learn more about ways to maximize your B2B marketing budget.
