Back to the Future: Employing the Best in Old and New B2B Marketing Channels
In the wake of the COVID era, businesses face ongoing decisions about strategy and go-to-market tactics. There are the methods that worked well pre-pandemic and the ones that proved effective during the necessary pivot to digital. Right now, the old has become new again, and there’s a constant innovation with technology.
Using AI to its fullest extent while also embracing in-person interactions, such as trade shows and face-to-face client meetings, has shown a notable increase in conversion rates. Even traditional methods like direct mail, especially in Account-Based Marketing (ABM), are making a comeback. Let’s take a closer look at some strategies that are working right now.
Direct mail, particularly within the realm of Account-Based Marketing (ABM), is having a moment. A piece that is personalized, professional-looking, relevant and engaging with a clear Call-to-Action (CTA) can be a real power piece for companies right now.
The Resurgence of Direct Mail in B2B Marketing
According to the Data & Marketing Association, the response rate for direct mail is around 5.1%, compared to email’s 0.6%. People are a lot more likely to open an envelope than an email.
The effectiveness of direct mail can be attributed to a number of factors, including a decrease in competition due to fewer companies utilizing this method. Additionally, there seems to be an enduring appeal among many recipients for something that is meant just for them, especially when accompanied by an incentive of some kind.
Surround Sound ABM Strategies
The multi-channel approach to ABM incorporates direct mail, along with cold emails, digital outreach, and phone calls. The objective is to create a comprehensive marketing strategy that surrounds the target account with various touchpoints.
In person engagements are an important part of this strategy. After two years of limited face-to-face interactions, the novelty of in-person meetings has resurfaced. People have a renewed appreciation for the personal touch after the digital dominance.
The reduced competition in face-to-face engagements, similar to what’s happening with direct mail, enhances its effectiveness. With fewer businesses using in-person interactions, the impact of these meetings is amplified.
AI’s Role in Content Creation
AI’s role in B2B marketing and sales is still evolving, but it is proving its worth with regard to content creation. Good content is a cornerstone of any outreach. Companies need a constant drip of it to make prospects more willing to engage.
If you have one full-time writer and need four times the content, AI tools can be helpful. The ultimate goal for using AI to assist in generating more content for social media, blog posts, and emails, is to build trust and credibility with prospects. It’s important that the content addresses their specific problems and needs. And even though AI helps with content volume demands, the human touch for authenticity and personalization is still a must.
Personalized Coaching with ChatGPT
A new dimension in marketing technology is the ability within ChatGPT to create custom bots, such as a ‘sales coach.’ This personalized coaching approach, available in the paid version, does not replace human capabilities, but instead enhances them. It is a skill builder and who can’t use that?
The bots can be trained on a company’s product and services to offer real-time advice during interactions with prospects. It’s a novel way to enhance engagement and guide potential customers through the sales process. There are also bots for negotiation skills and during the holidays, something called Santa that helped with gift selection for clients.
One day, these kinds of features will be integrated into mainstream CRM systems. It’s part of an overall paradigm shift in making advanced AI coaching tools more accessible to businesses, integrating technology and human expertise.
Harnessing Tradition and Technology in B2B Marketing
Think about the evolution of tools in various professions. Excel revolutionized the landscape for money managers. The powerful spreadsheet software allowed managers to dedicate more time to research and analysis, making them better at their job. Before calculators, engineers relied on manual computations. With reliable computational help, they could work more efficiently. It’s not that they don’t use their skills – they just leverage their skills differently.
As businesses embrace the best of old and new, they unlock a range of strategies. AI can augment human capabilities, but it can’t make a sales call – yet. It’s the right synergy that propels businesses forward, creating an overall approach that leads to sustained success.
As a leading revenue growth advisor for middle-market, private-equity-backed portfolio companies, Craig Group can deliver the right mix of tactics to achieve and surpass business goals.
Chris d’Eon is a Go-To-Market Principal at Craig Group.