Imagine a world in which every prospect has already heard of your firm. Would this help drive more sales? You bet!
Studies have shown that companies who enjoy strong brand recognition have an advantage over their competition when it comes to winning business and commanding premium pricing.
How Can Small Businesses Build Brand Awareness?
Answer: Remarketing. This strategy has traditionally been used by online retailers. They begin by casting a wide net using pay-per-click ads with the goal of attracting as many visitors as possible. Visitors who take certain actions (e.g. add products to their shopping cart) and leave without making a purchase are shown ads on other websites. You’ve likely experienced this type of remarketing after leaving Amazon.
B2B companies have largely ignored remarketing, and it’s a mistake. For B2B companies, the goal of remarketing isn’t to drive an immediate sale. There isn’t an abandoned shopping cart that needs attention. The goal is to drive brand awareness among key decision makers and open doors.
Why Have B2B Companies Ignored Remarketing?
B2B companies looking to target a small group of decision makers (e.g. Fortune 1000 companies) don’t want to cast a wide net. Not only will it be expensive, but it will draw many more unqualified leads into your remarketing audience than the decision makers you are seeking out.
Another important consideration is where remarketing occurs in the sales funnel. In online retail, remarketing happens further down the sales funnel, and the conversion happens on the website, making it easier to optimize and measure the results.
For a B2B strategy, we want to develop and remarket to our audiences at the top of the funnel before any client engagement has happened. Ideally, we’d like to drive brand awareness with key decision makers before our business development reps even pick up the phone.
+ Business Development
By incorporating remarketing into the B2B sales process, we build brand awareness that turns cold calls into warm leads. After repeat interactions with your brand online, prospects will have “heard of your company”, making business development an easier process.
Remarketing strategies for B2B companies can be surprisingly affordable and effective when done correctly. Instead of pushing remarketing campaigns down the sales funnel to re-target people already familiar with your brand (i.e. retail model), we proactively build an audience of key decision makers and indirectly introduce them to your brand wherever they engage online (i.e. top of the sales funnel). This builds your brand awareness among the people you want to reach—increasing your chances of opening doors and closing business.
How Does Brand Awareness Affect Sales?
Studies have shown that having a strong brand impacts customers’ decisions in five ways:
- It opens doors
- Shortens decision times
- Invites fewer comparisons
- Commands premium prices
- Increases customer retention
To build a remarketing and sales pipeline strategy that will give you an edge over your competition, contact us.