Retargeting and why B2B marketers should think long-term
Out of every 100 prospects you have for your B2B product or service, only 5 need or are ready to purchase your product or service. This means that your marketing should have the long-term goal of being in front of your prospects when they are ready to buy. Retargeting thus should become a key aspect of your marketing strategy.
B2B purchasing is a lot more complex when compared with B2C purchasing. B2B companies may not change vendors/suppliers as frequently as B2C customers purchase from a new brand. Only when a contract is up for renewal, does the room open up for a new brand. If a B2B company is not using a certain kind of product or service, they would need to be educated about the benefits of using one. Moreover, purchasing decisions may have multiple stakeholders involved in making the purchase decision.
Even those prospects who do interact with your content may already be using a similar product/alternative and may not be ready to make a purchase. Neither marketing, nor sales can persuade a prospect to buy when they have no need. The key then is to make sure that the customers (95% of all your prospects) who now are not ready to buy now remember your brand when they actually have a need and are ready to purchase.
What does this mean for marketing?
Marketers should have a long-term goal of making an impact and getting remembered by prospective buyers. This also means that for marketing it makes sense to target not just current decision-makers but also future decision-makers. While targeting prospects with LinkedIn advertisements, this means going a notch down with the seniority level to show your advertisement also to junior managers who may not be decision-makers now.
Retargeting with LinkedIn
Retargeting prospects who interact with your content with other useful resources will keep them engaged with your brand. LinkedIn allows you to retarget prospects who interacted with your lead forms, ads, website visitors (visitors of certain pages), existing contacts in your CRM. We will cover retargeting over LinkedIn in detail in another post.
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