B2B Display Advertising : Find, Nurture, and Harvest Find, Nurture Harvest with B2B Display Ads 1
21st Century Most people don t realize just how deeply Internet technology has disrupted the traditional marketing model. In the last ten years alone, the pace of technological innovation has increased to the point where advertising firms around the world are constantly forced to reassess their strategies and adapt to what has rapidly become a volatile and increasingly competitive arena. That being said, the arrival of powerful online marketing tools, such as target ad campaigns, native advertising, and mobile web platforms, among others, has also resulted in a staggering array of opportunities for those organizations looking to cultivate lasting connections and relationships with businesses on both a domestic and international level. The business owner of the 21st century has probably been introduced to digital marketing at some point or another, either through industry publications, blog articles or personal connections. Within the myriad of data points, anecdotes and infographics included in these resources, readers are likely to find one consistently recurring theme: the number of outlets for advertising distribution has only continued to grow larger in recent years, which, in turn, has resulted in an astounding array of opportunities for those hoping to connect with a massive online consumer base. Savvy entrepreneurs and tech firms have moved quickly to catch the eye of potential customers, developing targeted marketing schemes which transformed a user s web browsing history into customized display advertisements geared towards their individual buying habits. That being said, the near ubiquitous nature of this personalized technology has resulted in a far-reaching apathy and so what? mentality found in the vast majority of web users. Therefore, a more personal impact is needed to ensure that online audiences retain a business specific message and brand. 2
This, of course, doesn t mean to imply that the potential for effective display advertising has been reduced permanently. Instead, it demonstrates that businesses operating within both the B2C and B2B sectors must reinvigorate their marketing platforms with creative schemes that do more than simply show a customer an advertisement for a product they looked at on ebay less than an hour ago. Now, more than ever, advertisers have been challenged to create an undeniably authentic connection with their audiences. While this is undeniably a difficult proposition, it is also an opportunity to dramatically redefine the tired, worn-out dynamic between vendor and consumer that has persisted for decades. Are you up to the task at hand? Find, Nurture Harvest with B2B Display Ads 3
In the world of online advertising, there s never a moment when you have crossed the finish line and can rely upon previous work to propel your brand forward in upcoming months. Display advertising, like virtually any other facet of a B2B marketing plan, requires constant maintenance and upkeep. In fact, most business owners who have developed successful display advertising strategies find themselves continuously repeating a series of relatively simple steps in order to locate and convert would-be clients into paying customers. We have broadly defined these steps as follows: FIND Discover new B2B clients through the use of analytics and online footprint tracking. NURTURE Offer relevant, targeted content to B2B buyers that will cause them to engage with your brand. Offer a compelling and engaging landing page that reduces bounce rates. Engaging in rewarding financial transactions with B2B clients who had been spotted previously during the Find and Nurture phases. 4
For those who have stayed current on their market research, it should come as no surprise that conversion rates on display advertising have slowly decreased this past year. A popular theory for this phenomenon is that the world of online technology has also influenced online viewers themselves, resulting in a significantly more savvy and selective internet user. Knowing that ad campaigns are displayed on nearly all popular websites, ranging from Google to Facebook and LinkedIn, consumers aren t nearly as impressed as they used to be when an advertisement that reflects their spending habits shows up in front of them. The same could easily be said for prospective B2B clients. No matter how sincere a display advertisement may seem, business representatives know that the targeted ads they receive are the product of a sophisticated software algorithm, not a genuine human connection. To avoid the common pitfalls associated with targeted display advertising, savvy marketers must use new strategies through which online audiences feel that they are receiving the level of personal attention that they deserve. Find, Nurture Harvest with B2B Display Ads 5
The primary objective of a B2B advertising campaign will be to convert anonymous website visitors into known leads. The first step in a successful B2B advertising plan is to find those individuals and organizations that are qualified to purchase your solution. While the age-old formula of mass advertising placement may result in positive outcomes, it is likely that the costs of such a program will significantly cut into potential profits. Conversely, choosing to target a very narrow demographic may negatively impact overall visibility. limiting display ads to middle-aged professionals while excluding college students could, for example, greatly impact overall ROI if the product being sold appeals to both customer groups. Additionally, it s important to remember that a display advertising campaign is NOT the same thing as a direct response campaign. Simply measuring clicks may be somewhat misleading. Remember: being seen matters far more than the number of clicks that your ad receives (according to a 2012 study, that is!) Improving Your ROI: What You Need To Know Although analytics platforms have grown to provide troves of information about online audiences, including location, internet browser, browsing behavior, bounce rate, etc., the actual identity of a visitor remains elusive. This gap between the behavior of an individual and their e-mail address has led to the creation of tools that reward visitors for voluntarily offering personal information about themselves. For example, many businesses offer free downloads in exchange for an email, name, etc. Remember, however, that the current generation of online consumers are all too aware of Marketing 2.0 methods that seek to fish out their personal information. Given the staggering quantity of junk email we all receive from unwelcome vendors and businesses, it s highly unlikely that a generic form promising complementary services or downloads is likely to be compelling enough to actually work, particularly in situations where prospective customers may not be entirely convinced that your product or service is the perfect match for their needs. 6
Personalization IS Optimization If you re passionate about cutting the noise created by your competition, it s going to take a unique message that resonates strongly with your intended audience / customer. A progressive profiling form is an excellent tool for business owners who need additional information about their audiences in order to create a more tailored online experience but are wary of turning them away with too many form fields. Essentially, progressive profiling uses cookies in order to ensure that repeat visitors who do utilize the onsite form are given new questions on each visit, ultimately allowing for increased, incremental information collection that doesn t feel overbearing. Creativity May Be Elusive, But It s Absolutely Necessary In any situation where marketing is involved, it s essential to remember that creativity should be your first priority. Cycling back to our three phase model of Find, Nurture and Harvest, it s time to explore how we can Nurture the potential leads that are currently visiting your website platform. What do you think of when it comes to nurturing your leads? According to one marketing professional, nurturing can be defined as the process of building a relationship by conducting an informative dialog that helps qualified prospects who are not yet sales-ready, regardless of budget, authority, or timing and of ensuring a clean handoff to sales at the right time. Can an advertisement provide the informative dialog mentioned here? Marketing experts at Forrester Research discovered that web users are 56% more likely to complete a purchase if they first encounter engaging display advertising before clicking on a search-based ad. With this in mind, it becomes increasingly apparent that the RIGHT message shown on display advertising may lead to dramatically improved conversion rates. The more personal the message, the better your chances! What if you decided to create display ads which mirrored your prospect s behavior during the time they were visiting your website? Say, for example, you noticed that client A was spending a substantial amount of time browsing your blog or resource page. An ebook offer or whitepaper download may be an excellent offering! If a specific client has spent the majority of their time within their online cart or on the product pricing page found on your site, repackaging competitive pricing offers within a personalized ad could prove to be highly effective! Discuss your product in a way that resonates with the specific target buyers. Find, Nurture Harvest with B2B Display Ads 7
So, What s Next? Harvest, Harvest, Harvest It s absolutely critical that business owners transform casual interest into rewarding sales conversions. This processing of harvesting involves any tactics and strategies that lead B2B buyers back into the sales funnel to close on a deal. Knowing full well that ad personalization produces outstanding user engagement, here are a few ways in which you could tailor your advertisements to prospective buyers: ÎƉ Job title - If you have discovered the specific job title of a B2B buyer through a contact form, you can integrate this into a targeted ad. ÎƉ Industry - By adopting the lingo and language of a B2B buyer s industry, your ad will appear more relevant and personalized. ÎƉ Company - Find a way to link the purchase of your product/service to your buyer s specific industry. This almost always guarantees a higher click-through rate. ÎƉ Solutions - If you have a rough idea of why a client is seeking out your products, you can show them exactly how they can use it to achieve their desired goals. Displaying an effective solution to a prospective is a powerful tool for online advertisers. Conclusion Hopefully, the information provided here will serve as an excellent foundation on which you can begin to develop an engaging, dynamic and highly effective web presence. We look forward to introducing several new B2B marketing concepts to you in our next publication! 8
ListenLoop is B2B display advertising software that nurtures and converts anonymous visitors into sales-ready leads. Call 877-959-7929 if you would like to discuss your marketing mix with one of our experts. Find, Nurture Harvest with B2B Display Ads 9