Now the scope of advertising is limited
during a recession; more emphasis is paid on personalized marketing with tailored solutions that can be created for clients. Therefore, when some B2B businesses suffer during recession, montenegro cell phone database others can take advantage of this situation to turn the situation in their favor.
Here are five top marketing strategies that B2B businesses can use during the recession to keep their businesses afloat.
Use Lead Management for Value Creation
During the recession, making purchase decisions take even longer than usual. If you identify a potential buyer, you need to classify where they are on the engagement scale in a buying process.
Strategies for B2B Marketers During a Recession image Sales Process
I was sent this chart a few years back and I have no clue who made it but I love it. If anyone knows who created, please let me know. I’d love to give them credit for it.
The chart clearly shows your business
process (sales process) and where the prospect is at (customer process) compared to your sales process. It is simply brilliant and valuable to understand your sales process better.
If you fail to identify this
a large majority of potential clients who are not yet in the sales-ready state can be lost. Since lead generation costs you, it is important that you do your best to retain every lead. Therefore, you should start managing leads right when they are in the early stages of the decision-making process to increase your chances of turning them into customers.
Focus More on Existing Clients
Acquiring new clients can be far more expensive than retaining those you already have. Since you have less money to spend, it is better to focus on your list of existing customers and build relationships based on partnerships with them.