From Referral Incentives to AI: 7 B2B Marketing Growth Hacks to Boost Your Business in 2023
Introduction: Startups, Growth Hacking, and B2B Marketing
Are you tired of using the same old B2B marketing strategies that yield mediocre results?
Welcome to the exciting world of marketing, where competition is fierce, and challenges are bigger than a T-Rex’s appetite! Marketing something intangible, like a SaaS product, can be like trying to sell air to a fish. But fear not, for growth hacking is here to save the day. As SaaS explodes in new domains, you’ll need to stand out like a peacock in a sea of pigeons. Growth hacking optimizes ROI by finding shortcuts to fast growth without compromising business sustainability. It’s like slicing through a jungle of competition with an innovative machete and a data-driven plan.
Growth Hacks 101: How to Use Content Marketing, Paid Ads, and Product Promotion
So, you’ve got a startup and want to maximize your ROI? Great! But where do you start? The answer is simple: growth hacking. It involves identifying opportunities for rapid growth and taking advantage of them to achieve sustainable, long-term success.
In B2B, growth hacking is all about finding clever ways to attract and retain customers while keeping costs down.
Before we get into the growth hacks, let’s quickly go over three of the most common B2B marketing strategies: content, paid ads, and product marketing.
Content marketing involves creating and sharing valuable stories. Paid advertising, on the other hand, involves paying to promote your products or services. Product marketing involves promoting your products or services to potential customers by keeping everyone from product managers to end clients.
The Risks of Growth Hacking:
Growth hacking can be risky. If you want to grow, you might be tempted to take shortcuts or use questionable methods, but doing so could hurt your reputation and long-term prospects. Having a strong plan that strikes a good balance between growth and long-term health.
Here are the 7 B2B Marketing Growth Hacks:
- Referral Incentives
Word of mouth is one of the most effective ways to attract new customers. Give your current customers a discount or a reward if they bring you, new customers.
Example: Want to get a discount on your next subscription? Refer a friend and get 20% off your next payment!
2. API and App Integrations:
APIs let different pieces of software talk to each other, and app integrations allow your product or service to work with other apps. This can help you reach more people and give your customers more for their money.
Is your product compatible with other software? Why not post something like this on social media to get the word out: “Want to make things easier for yourself? Our product works perfectly with [insert name of software here]!”
3. Collect Reviews, Leverage SaaS Sites:
77% of buyers do their own research before they even talk to a salesperson.
Customer research is an important part of making a purchase. B2B stakeholders do a lot of research and put a lot of stock in what others say. So, ensure that when they look into your company, they will find information that makes a good case. G2 and Capterra are likely to be two of the platforms they use. People rely on these software marketplaces to get honest feedback and detailed information from people who have used the products. These review sites are just as good at gaining the trust of potential customers and getting them to buy as referral programmes.
Want to show off how good your reviews are? Make a “testimonials” page on your website and share it on social media with a post like “Hear what our happy customers have to say about our product!”
4. Usage-Based Pricing:
Usage-based pricing (UBP) is like going to a buffet where you can eat as much as you want. You don’t pay a fixed amount. Instead, you pay based on how much food you eat.
It’s great for the restaurant because they can make more money if you eat a lot, and it’s great for you because you can eat as much as you want without feeling bad. In the same way, UBP lets startups charge customers based on how much they use their product or service. This incentivizes customers to use the product or service more, increasing revenue. Win-win for everyone!
5. Account-Based Marketing (ABM):
ABM is all about having one-on-one conversations. Imagine that you’re at a speed dating event. You wouldn’t talk to every possible date with the same line, would you? (Don’t say you’d do it.)
Same for B2B marketing.
You can’t send the same message and use the same strategies for each account you want to reach.
Pick your top three hero domains. Pick 20 target companies and ten decision-makers likely to influence the process. Rinse, wash, repeat.
ABM means you tailor your approach to each customer and give them a unique experience. But don’t waste your time on accounts that aren’t a good fit. Get rid of the ideas that aren’t likely to work early so you can focus on the ones that will.
6. Don’t Be Boring: The Power of Storytelling and Thought Leadership
I can’t stress this enough. Most companies don’t understand that end of the day, you are selling to another human.
Humans like stories.
Numbers and clickbait can take you to a certain stage of the prospect funnel, but quality content will help you stick around for long. Play long-term games with long-term people. Appeal to their hearts rather than brains.
Another way to spice up your B2B marketing is by focusing on thought leadership and providing valuable insights and resources to your audience. By establishing yourself as a trusted authority in your industry, you can build credibility and attract more qualified leads.
7. Create Shareable Content:
B2B marketing needs shareable content. You want your content to be so good that people can’t resist sharing it with their colleagues, friends, and pets. (Okay, maybe not their pets.) Shareable content includes:
- Tutorials: Help folks understand how to do something.
- Interviews: Interview industry experts and entrepreneurs for advice.
- Product Reviews: Publish and share product reviews. Reviews and recommendations influence buying.
- Statistics: Present credible numbers in an easy-to-read manner to demonstrate a specific sector or issue. Cite your sources or risk citation jail.
- Case studies: Demonstrate how your product has benefitted companies like theirs.
- Lists are popular. Create distinctive, well-researched lists to intrigue.
- Infographics: Add data-driven images to stories. They’re appealing and boost website visitors.
- Videos: Use a few in your marketing. They’re effective and boost sharing.
Youtube is the new king for 2023. Try shorter formats and see it scale.
To sum up, the tactics above are only the beginning of what can be done to maximize your B2B marketing efforts. Keeping an open mind and a knack for innovation is essential.
As you put these tactics into action, remember that B2B marketing fosters connections between humans.
Building a customer base who can be your brand evangelists should be your first priority. Focus on your customer at every stage. Play long-term games with long-term people. Have a productive 2023!
