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For many B2B service providers and companies, acquiring new customers is a major challenge. Often, the market environment is very competitive, i.e. there is a multitude of comparable offers and competitors in the respective niche, region or industry. With increasing competitive pressure within the market segment, click prices for online marketing campaigns also rise, resulting in lead costs in the double- or triple-digit euro range.
What is the alternative?
With the help of so-called content marketing, you attract potential prospects and convince them of your offer. This is a marketing strategy that often pays off if you can't compete with the multi-million dollar marketing budgets of international corporations.
What is the alternative?
Collect leads and contact information for later contact
Has the prospect:in moved on your website, you have managed in the optimum case to trigger a direct order. In the vast majority of cases, however, this is not the case and so it is important to at least get the website visitor to at least bookmark your website for a later revisit or to make a request, e.g. to use a demo version, a free consultation or an individual offer.
The question of the optimal product price for the own offer drives many founders and entrepreneurs around. If you do not have a comparable product or service, i.e. no direct competition, the price is not formed on the market by competition, but primarily through your pricing and thus according to your internal calculation.
When pricing, always keep in mind: The lower the price, the higher the probability that you will sell to problem customers. Because: You can never please customers with a cheap-is-hungry mentality.
Keep away customers who can't afford your products or services or don't value your time.
Generally, B2B prices must be higher than retail because the volume, i.e., the number of customers you can acquire in a month or year, is much lower.
Customers who look at three- or four-digit product prices with their "consumer glasses" quickly consider you overpriced or usurious and are quickly put off by them, but completely disregard the fact that the cost of acquiring a new B2B customer, the so-called customer acquisition cost, e.g. through high online marketing costs for advertisements or a telephone sales team is usually several hundred euros or dollars. At the same time, the number of potential customers is limited, but the number of competitors fighting for the potential deals is not.
There are various sources and strategies for generating leads (both as a B2B and as a provider in the end customer business). Basically, a distinction can be made between unpaid (so-called organic) and paid sources of leads, e.g. in the form of Google Ads.
The situation for most companies and providers in the B2B sector is as follows: There is strong competition/stiff competition in the respective niche, high click prices, escalating marketing budgets as well as ad campaigns that do not work. The downward spiral of ever increasing costs with ever poorer conversion rates is supposed to be stopped with a further increase in the marketing budget - which often enough fails.
But what is the alternative to expensive online marketing?
With the help of so-called content marketing, you provide potential prospects and customers with free knowledge with added value and thus create trust. The goal is that the customers in spé deal longer with your offer and do not leave your website after a few seconds, but click through your website. The more articles, i.e. content, you provide on your website, the more this testifies to competence in your respective field and will increase the likelihood of a purchase.
In the best case, you manage to get interested parties to sign up for your newsletter, for example, to be informed about future discount promotions, make an inquiry via contact form or phone. It is important to obtain their consent to be contacted in order to be able to contact them in the future in the so-called follow-up process and to convert them into customers in the long term. After all, the majority of B2B customers only buy after the second, third or fourth contact. Here, it is also important to understand the so-called sales cycle in the business-to-business business.
If you have managed to direct interested parties to your site through thematically relevant articles or blogpots, the first hurdle has been cleared. Therefore, think about how you can maximize the number of visitors who come to your site for free (so-called organic traffic). These can be, for example, articles with titles that consist of specific questions as potential customers enter them in Google or other search engines, articles about current news in your industry or niche, product news or reviews.
The great agency death is a problem that will confront many agencies in the coming years. It is expected that by 2023, more than 80 percent of all agencies will be unable to cover their costs.
This is due to a number of factors, including increasing competition, which means many agencies will have to lower their prices to attract business. It's also possible that some clients who turn to large agencies prefer to buy individual services instead of an expensive, full-service offering, which means agencies also receive less money per job.
In addition, increasing technologies are increasing the use of automated processes, which means that much of the work that used to be done by agencies is now done by computer programs. This results in agencies needing fewer employees to do their work, which in turn results in cost savings.
Another factor driving agency death is the increasing competition from new, very low-cost agencies that are often used to replace existing agencies. These new agencies often offer much better value than many established agencies, making them more popular with clients.
Finally, some agencies may also be affected by the impact of the Covid 19 pandemic, as some industries have suffered a severe downturn that has reduced demand for agency services.
All of these factors contribute to the possibility that many agencies will no longer be viable by 2023 because they will not be able to cover their costs. It is therefore important that agencies actively seek new ways to reduce their costs and develop new revenue streams now in order to survive in an increasingly competitive landscape.