New Market? New Product? What strategy should you choose in the age of social?
It used to be easier to launch a new product and enter a new market. We developed the B2B marketing strategy knowing our small list of competitors, the clearly defined sales channels and the ideal customer.
The ability to develop a B2B marketing plan that one could take to the bank has become unstable. Today, a simple share on social media can ruin a brand overnight, sales channels are murky, and the client has choices, perhaps too many.
Emerging Digital Marketing Strategies
Here’s the thing, corporate strategies have not changed. What has changed is the level of boldness you’re willing to go with your corporate plan. For those who are comfortable with adopting digital marketing strategies to win more market share, have shown to outperform and generate a return for their digital investments.
Emerging digital strategies include “Rebundling and Customizing,” “Digital Distribution Channels” and “Cost efficiency”. Each of these digital strategies starts with your corporate strategy. You can call it being a disruptor, an innovator or creating a differentiation strategy – all of them require a commitment to the social. Whether you classify social as being social media, digital marketing or the entire internet, it’s social.
Social media, make it what you want
Social media has changed, it’s matured. More importantly, the latest word from Google is that social media is a good sales channel. That’s good news for B2B marketing!
But that’s not all social media can do for your business. Based on your company’s product offering, social media can be part of your customer support team, a competitive tracking tool and also engage your staff.
Boldness Wins Online
Having a reactive response to your competition is never a good business move. Ongoing competitive tracking is essential, but having the right people in your company to ensure you don’t do another me-too product is crucial.
Outperformers do differently. We see these B2B companies try Facebook advertising before their competition, invest in SEO and adapt their product portfolio with digital technologies. A perfect example is investing in the digital distribution channels, with the goal to give customers easier access to products and services.
The internet has become a business tool, enhancing customer access while reducing your supplier costs, all working towards helping your bottom line.
Take control of your online brand
You may not be ready to invest in digital marketing; there’s one thing we can both agree on, the internet has become a business tool. Social media and any form of digital marketing require that you, your company own your online brand.
A level of control is required. Start with this; we can talk later about how we can help you with your product launch or new market entry.