Online personalization in B2B: who dares to take the plunge?
Online personalization in B2B: who dares to take the plunge?
Of all the digital developments that have been announced for the B2B sector, one remains remarkably behind: personalization. Many companies ignore this with all kinds of arguments. However, experience shows that one important development gets companies moving: the fragmentation of their market.
The case is in fact simple. Marketers understand that personalization fascinates and binds customers. Just as B2C companies have already changed the standard, the same development is expected on the business market. For a few years now, Gartner predicted in the 'Commerce Hype Cycle' of 2016 that business players who personalized their customer experience two years later - now - would be extra successful. One year before, Forrester calculated that three quarters of B2B buyers wanted to be served online and in person.
Results from the past
The peculiarity is that something seems to keep the B2B world from embracing online personalization. At Emerce B2B Digital Europe we will discuss this with our partner Copernica. Why is it such a hurdle? And how do others get it sold internally?
In general, it is not the modern marketer. Because they are skilled in working with marketing automation, they know the advantages. It is often the fear of change among senior management that prevents companies from taking the step. The knowledge that results from the past do not offer a guarantee for the future often does not seem to apply here. People prefer to stick to the marketing and sales that have brought successes.
Major new leads are immediately followed-up by telephone. And existing customers are just as satisfied because they can switch quickly and personally with the supplier. The satisfaction surveys among the large customers also reflect this as a big plus. So why would you just 'attack' such a unique selling point? Especially within management, there is often the fear that the automation of this personal contact can cannibalize itself.
Is personalization necessary for growth?
An understandable question mark. Yet there are a number of ways in which even the attention of the most traditional manager can be caught. For example, in almost every branch there is one player who has changed tack and invests in digitization and personalization. Yes, in many B2B sectors everyone still knows each other well and a phone number on the website is enough to get in touch with people. But gradually the standard is shifting. The 'new' digital generation does not consist of young people in their twenties, as management regularly says naïve. In the business market, too, interested parties from virtually every age group are now starting their orientation online.
Perhaps even more concrete is the changing market itself. The market in which the same companies operate is fragmenting. For B2B companies, it is not uncommon to get at least half of their turnover from a handful of large customers. The business processes are designed to optimally serve those customers. But where many B2B companies could for years grow and grow on some large fish from the sea, it is slowly becoming clear that this is no longer a success formula. Those who want to scale up quickly will have to focus more explicitly on medium-sized and small customers. It means that many more decision-making units (DMUs) can be identified. Including employees who are each convincing themselves or guiding towards a sale in their own way. This is impossible to implement without automation.
And that is precisely the added value of online personalization. By mapping the DMUs more accurately using online data, it is possible to offer content that suits a person's professional interests and questions. Or at the stage where the company is in at that moment.
Easy start
This has caught the attention, but there is no doubt that they did not change. The only way to convince is to start a small process. Experience shows that the first successes are easiest to achieve with the use of e-mail. This marketing channel has often been in use for some time - and has already provided the necessary data. As a marketer you are not forced to start from scratch. For example, companies that are regularly present at trade fairs and who personally communicate with potential customers can start a campaign around such an event. Invite people in various (follow-up) e-mails and with various content to visit the stand and to show a QR code. In return, they receive a gift. The great thing about this is that as a marketer you are able to follow up on interested people with additional information. And that you can demonstrate on a small scale that the customers of the company in question do indeed orient themselves online.
In general, the temptation is great to get started with personas and complex content strategies. The advice: start with what is already there. Clean the existing database and then make the distinction between existing and intended customers.
After some time, further sub-segments can be searched for. Which phases do customers and prospects pass through? And is there overlap? The techies in a DMU are undoubtedly faced with very different questions than the financial director. The step that follows is therefore a thorough data analysis. For example, use A / B tests to experiment with the topic choice of the newsletter and determine what the effects are on important metrics among the target group.
Attention for all customers
However, it is very important not to have an exclusive eye for online data. Interview as an addition to existing customers of various companies and different sizes. It is now almost a regularity that marketers then only have the conversation with the largest players. After all, these are on the retina of senior management and are preferably added to the customer base. Ensure that the data analysis is supplemented with a variety of issues from various angles. For example, the marketing content can be matched more and more accurately to a person's expectations and role in the purchasing process.
The necessary marketing automation tools are already long and wide. By looking no longer exclusively at the number of e-mails sent, but at the impact and contribution to the turnover, the first modest successes become visible. With small steps, most traditional companies and their management can also get moving. Without losing the personal character and unique selling point.
How do other B2B companies deal with the issue of online personalization? And how do marketers realize change? TRIMM and Copernica exchange experiences at Emerce B2B Digital Europe, October 9 in Amsterdam.