Iím constantly lucky enough to help stacks of B2B business clients in my agency. While this provides me with valuable insights about what is working for businesses, it also shows me the largest mistakes that many in our industry tend to make.
Whether it is lawyers, industrial sales, distributors, or book keepers, they all seem to make the same mistakes again and again. And today youíre going to learn what the top 5 are, and how you can avoid them.
1. No presence in Google
Whether you sell to local businesses, or distribute mining equipment to multi-nationals itís important that your business is found in Google. With 20% of all traffic in Google being for businesses, if youíre not there youíre just handing your competition direct cash.
The Solution: Contact an SEO agency and get them to run a check on your website. If you donít appear first for at least your business name, then you have large problems.
2. No email list
Many business owners believe that email marketing is only something that retail sites should do but they couldnít be further from the truth. According to HubSpot, email marketing returns a 4,000% ROI across all industries.
I have generated a new sale from nearly every email that I send to my list. Whether its a old lead who just wasnít ready, or a old client who is ready to come back on board, they generate me a large ROI.
The Solution: Donít under any circumstance just try and sell to your list. Instead build a strong connection and relationship from your emails. Provide useful content that really helps them with their business.
Those who are interested will contact you for help. For example if you are a bookkeeper, send an email with your top tips for tax preparation - Iíll be very surprised if at least one client doesnít approach you for help that day.
3. No special offers
One important lesson that all B2B business owners need to understand is that business people are still humans. And just like normal customers they still make emotional decisions.
The Solution: Make a special offer to your customer base and email list at least once every 3 months. It could be a free analysis which gets your foot in the door, or a discount on a product combo that you offer.
4. Neglecting website conversion rates
Do you know how well your website converts vistorís into leads? Do you know the value of each visitor that hits your website? And are you always improving how your website converts?
If you didnít answer yes to all of the questions then itís time that you pay close attention. On average professional websites convert traffic to leads at about 2%. This means that for every 100 visitors who hit your website, youíre likely to get 2 inquiries.
Now imagine if you could increase this number to 4? That would double your business overnight, while not investing another dime on traffic.
The Solution: Go to HotJar and get yourself a free trial. This software allows you to see how your traffic is interacting with your site. Once you have some information and see some patterns (Such as no one wanting to fill out the 28 feild quote form), then you can make changes and see how they affect your conversion rate.
5. Investing in areas that donít make a return
At this start of last year I made the decision to do more conferences and trade shows to increase brand visibility. However this year Iím not going to do any at all. Why? Because they didnít give me a good return.
For every dollar I spend on Search engine optimisation I get $8-10 back. But for the trade exhibitions I was lucky to break even.
The solution: Before you sign another check to your marketing agency, have a deep look at what is generating you the best ROI and see if that method can be scaled any higher without losing its results. Personally in my SEO Agency most of my clients are seeing the best results from search engine optimisation over all other marketing forms in the early part of 2016.
If you dodge these 5 mistake youíre going to be 90% further ahead than any of your competitors, as B2B Businesses are renowned for moving slowly in the marketing space. So jump to it and make 2016 your most profitable year yet!