B2B (Business-to-Business) marketing is becoming more competitive as entrepreneurs gear up for technological advancements. Among other factors, the Internet of Things (IoT) is changing the B2B marketing landscape and providing more options for creativity.
Creative B2B products and services embrace digital innovation by leveraging IoT to meet the demands of target companies also doubling as clients or end-users.
Here are five ways an industrial marketing agency or any other B2B marketing agency take advantage of IoT:
1. Research
Before creating a strategy, a B2B marketing team will first have to carry out intensive research. This research helps the team study their target audience—their interests, pain points, and possible solutions—to make informed decisions when drafting a marketing strategy. Research also provides metrics that can be used to determine the effectiveness of a strategy result.
The large amount of data collected through Internet of Things (IoT) systems out in the field helps businesses carry out more robust research into the customer market. Leveraging the IoT-generated data, B2B businesses can view how their products or services perform compared to their competitors. IoT-enabled products or services can also provide insights into why they aren’t performing up to expectations and how to improve existing strategies to make customers have a better understanding and use of their solutions.
2. Niche Targeting
It’s rewarding to reach out to more customers if you can create an ideal client persona. B2B marketers must understand who their customers are, what they want, and how to engage them. This helps B2B companies focus more on people who need their products or services and pay for them.
With IoT, B2B marketing teams can find information about how people use their products and where to find these people. For B2B clients into wearables or automation, marketing information can easily filter into their devices. Consumer IoT ensures B2B marketers can narrow their leads, thereby reducing effort and increasing conversion.
3. Advertising
Every year, businesses allocate a sizable portion of their annual budget to advertisements. Even if all of the money is used for that purpose, it doesn’t guarantee profitable leads. The advertising has to target potential customers who find it relevant.
The best way to spend money on advertising (maybe even less than the actual budget) and get more click-through rate is by using the IoT. IoT technology helps get a finer knowledge of your target audience. Leveraging IoT data can be crucial to smashing your B2B marketing targets.
4. A/B Testing
Testing is a great way to confirm the results obtained from research. After creating and implementing a marketing strategy, a B2B team needs to follow through on the approach to measure its progress and work out ways, if there are any, to improve the results of the strategy. Testing allows a marketing team to compare the results of an ongoing process with the results from their market research.
Embedded IoT technology makes it easier to test two or more prototypes and determine which one performs better. The collected IoT data enable B2B marketing teams to test how to improve their products by providing insights on how (and how often) they are used.
5. Analytics
Information is golden, and the collection of data is a goldmine. When B2B marketing teams create a marketing strategy, it comes with a deadline. At the end of the deadline, there should be a way to measure marketing campaign results.
IoT analytics can be used to deliver valuable insights and support decision-making. By running relevant analytics on the IoT data collected the marketing team can pinpoint what part of their strategy hits as well as what part flops and use the information to create a better system in the future.
6. Monitoring
Have you ever wanted to monitor your B2B marketing campaigns in real-time? Have you ever felt you should be on the same page with your clients, learning their interests and movements? Good news; IoT provides you with real-time monitoring.
You have the option to control and improve the visibility of your campaign in real-time through the many IoT devices. You can leverage the incredible home devices, industrial sensors, intelligent fitness devices, and smart cameras to enhance the quality of your marketing campaigns. You can also use automation to follow up on leads and conversions.
Conclusion
The use of IoT for B2B marketing can bring about new possibilities and increase efficiency for B2B providers. To stay relevant in any industry, attract customers, and generate revenue, B2B businesses must learn to incorporate the Internet of Things (IoT) into their marketing strategies.
