You are the brand new B2B Marketing Manager for a young Startup. The startup is already in the market for a year or so and is about to make a product relaunch. Which B2B marketing strategies would you follow for a successful relaunch campaign?
This is a typical challenge when you work at a Startup. But before continuing the rest of this post, check my previous post to understand if you are startup material to see the big picture.
Let’s start about how you shall proceed with your task.
Growth Hacking Marketing:
Instead of using traditional channels, I’d highly recommend growth hacking marketing for a new startup. Recall the stories how Hotmail added PS. I love you and sign up for free for the Hotmail signature to emails, how Uber sponsored the big events with free rides in the beginning, how Airbnb used Craiglist to redirect the customers their own site. These are all growth hacking marketing ways and you need to find your own hack.
But before starting the growth hacking marketing method, you need to make sure whether the product has a great product-market fit or not. Maybe you already have all the research and data I need beforehand and maybe your product is at its best product-market fit. But you need to make sure it is, to make a clean start. If there is already a client base there is a great opportunity to test “product-market fit”. Here are the questions you need to ask current customers:
What is it that brought you to this product?
What is holding you back from referring other people to it?
What’s very useful?
These could help you reshape the product with fine-tuning and would help you receive bigger returns in the long run for your “customer-centric” approach.
How do you create a “customer-centric approach”.
First, you need to know your customer. Then you can define “personas” to build customized strategies for your targeted personas.
Now it is time to focus on finding our growth hacking with the following:
1. Collect More Testimonials and Have Good Reviews on Review Websites
The existing customer base is a great opportunity to collect testimonials. Positive feedback on review sites is very important in B2B marketing. No advertising can beat a customer’s positive testimonial. Word of mouth reinforces buyer’s trust and increases closure rate. Successful SaaS companies (Salesforce, Box, Adobe) always have their clients logo on their homepage and reviews on their website. They also have their reviews on review websites. It is a great way of marketing your target audience. F
2. Benefit from Referrals
You can give referrers some incentives for them to get potential leads or successful sales. Your current customer base has already had a business network. If they refer you to their partners and business associations, it would be easier for you to reach them. Your current customer base could also benefit from your rewards.
Referrals could also work on your website sign-ups. You could give some incentives to the ones who leave a potential customer’s email.
3. Reach Potential Buyers Directly
List your big potential customers and reach them directly. I used this technique for fintech scouting in Silicon Valley for possible partnerships for the bank I work at and my response rate was 70%. The key is you should not sound like “a seller”. When you approach someone for sharing ideas and discussing possible partnership opportunities, it sounds more professional than you are advertising for something.
4. Use Targeted Websites
5. Content Marketing
6. Event Marketing for the Target Market
7. Improve free trial process
8. Email Marketing & Email Automation
10. Paid Social Media
If you would like to talk about B2B marketing and details about all the bullet points, don’t hesitate to reach out.