Latest news with #marketingstrategies
Forbes
18-07-2025
- Business
- Forbes
B2B Forecasting Is A Guess; Responsiveness Is A Strategy
Nikos Lemanis is Strategy Director at Luxid Group, an award-winning, agile team of creatives, technologists and marketing strategists. We find ourselves in unpredictable times, and for B2B marketers, this presents a significant challenge. Until recently, B2B was enjoying a long period of relative stability, coupled with the kind of advancements in channels, technologies and data that gave marketers ever-increasing capabilities to do their jobs. But now, macroeconomic factors such as global political instability and volatile tariff policies are increasingly affecting supply chains, market demand and the shape of the competitive landscape. And behavioral factors such as complex and increasingly AI-powered self-service buyer journeys are impacting the quality of, and access to, valuable audience insights and purchase intent data. The technological advancements that once provided a level of certainty for B2B marketers are now arguably contributing to instability. All of this means that we're seeing an increase in factors that B2B marketers simply can't control, and these directly affect their ability to forward-plan with the level of certainty they have taken for granted for many years. This isn't a temporary blip. The rules have changed, and they aren't changing back. This means that the market has to rethink the long-established practice of annual planning. The traditional model of annual marketing budgets is based on an outdated belief in predictability: a series of assumptions about the coming 12 months that rely on the stability of past experiences, analysis of current trends and availability of resources. Although many businesses still cling to this well-worn path, the time has come for B2B marketers to pivot away from trying to rigidly forecast the future and toward building systems and processes that respond rapidly to it. Rigidity Is The New Enemy Of B2B Marketing Rigidity is the key word here. It's not the 12-month planning cycle itself that's problematic; it's the built-in rigidity that so often comes with it. Rigidity locks in spend, regardless of shifting returns. It promotes inertia and prevents the agility to see or act on timely opportunities. And it leads to delays in reacting to downturns, crises or changes in the market. There are some very clear examples of this in B2C. For over a decade, Netflix publicly resisted the idea of including advertising in its streaming platform. But in 2021, its subscriber and revenue growth slowed. The company's response was to announce a new ad-supported tier and launch it within six months. It was a remarkably fast timeline for a major platform shift and a brave reversal of strategy. And it worked. Advertisers have been eager to get on board, and the tier is popular with users. It's been estimated that the company's advertising business could earn $10 billion in annual revenue by 2030. The lesson? Be prepared and able to pivot quickly and decisively from some of your core beliefs and strategies. And be prepared to act when your assumptions break. 'Flexibility And Agility' Is The New Mantra Of B2B Marketing Most businesses don't have a business model like Netflix that could demand such a seismic shift, but it illustrates the level of flexibility and agility that all businesses should aim for in their planning model. So, what does embracing flexibility and agility in B2B planning look like in practice? At the most fundamental level, make sure you have access to actionable data to aid your decision making, and that your budget review cadence is more than a box-ticking exercise. At a campaign level, include built-in flexibility that is tied to performance data, with realistic allowances for downtime if and when a change of direction is needed. Create cross-functional budget pools that allow marketers to pull funds based on evolving priorities. You could even consider broadening this to promote collaborative budgets with sales, IT and customer success. Embrace the unknown and put the pieces in place to make fast and accurate decisions about how to apply your budget. It's no longer about predicting the path. It's about building the muscle to change direction without losing momentum. Of course, certain elements—your brand—need to retain consistency. Agility doesn't equal a lack of identity. Although you may see the need to change what you align your brand with over time, quickly pivoting its essence and ethos is rarely the way to do that effectively. The entire business must become comfortable with the fact that rigid 12-month planning is guesswork and that it's not conducive to success. Responsiveness needs to be institutionalized, and there are ways to promote that and to overcome the doubts of stakeholders who are uncomfortable with the shift. Clearly document responsive budgeting in your plans to show that it stems from robust thinking rather than a lack of confidence or foresight. Include scenario planning ('what happens to this budget if ...'), regular review and reallocation windows, and exactly how you will govern flexibility responsibly. Directly incorporate the finance team into your agile planning and reporting processes. Get It Right, And You Will Have More Control Your marketing team might perceive that this shift comes with a loss of control or focus. You will need to take them along on the journey. Show them that, through continuous monitoring and optimization, they will actually have more control, with additional freedom to pivot and take advantage of timely opportunities that move the needle. This evolution isn't just a process shift; it's a mental shift. And it's about managing the organizational expectations that stop you from breaking from the status quo. Real strategy now lives in how fast you can adapt, not how well you can guess. And success won't belong to the best planners; it will belong to those who have a robust mechanism for responsiveness. Forbes Agency Council is an invitation-only community for executives in successful public relations, media strategy, creative and advertising agencies. Do I qualify?
Entrepreneur
02-07-2025
- Business
- Entrepreneur
Marketing Online Can Be Overwhelming For Small Businesses — But It Doesn't Have to Be With These 6 Strategies
Opinions expressed by Entrepreneur contributors are their own. Small business owners often feel overwhelmed by the prospect of engaging with digital marketing techniques. The ever-growing range of expensive tools, platforms and agencies can be intimidating, but the shift to digital marketing actually provides small businesses with unique opportunities. With carefully focused strategies, small businesses can expand their marketing reach while maximizing their ROI. Traditional marketing vs. digital marketing Traditional marketing techniques for small businesses included print advertising, word-of-mouth referrals and direct mail marketing to a local customer base. While these methods provided small businesses with simple, clear-cut marketing strategies for their immediate area, they limited their ability to target relevant leads and expand their business. By contrast, digital marketing, though it may come with a learning curve, allows small businesses to tailor their marketing strategies to their target market and business goals. Related: 4 Advanced Marketing Tactics for Small Businesses That Actually Work The challenges of digital marketing for small businesses Digital marketing also generates unique challenges for small businesses. Many small businesses do not have a dedicated digital marketing expert on staff. Partnering with a digital marketing agency or hiring someone new can be expensive. Many SEO, email marketing, content management and creation platforms are also costly, and they can be difficult for beginners to use. Perfecting a strategy can also be challenging; businesses that have succeeded in allocating resources to a digital marketing campaign may not see the leads and conversions they would like. Since search algorithms, social media and content marketing tools are constantly undergoing significant changes, a strategy that was successful a year or two ago may no longer generate the same results. All these challenges can make it difficult for small businesses to grow using digital marketing. 6 strategies for success Though digital marketing presents challenges, small businesses can take advantage of the opportunities it provides with these six strategies. 1. Market research Digital marketing actually provides small businesses with more precise tools to target potential customers, rather than throwing resources at a broader market. However, to take advantage of this, small businesses need to use the right tools and perform in-depth market research. Digital analytics is one of the most critical aspects of digital marketing, since it allows businesses to design marketing strategies based on a deep understanding of their customers' pain points, demographics and buyer journey. 2. Find your USP Small businesses often operate in a niche market. To design a successful digital marketing campaign, they must identify their unique selling point. This allows them to highlight what makes them stand out, rather than competing against large competitors that may offer more generic services or products and have a much larger marketing budget. By narrowing their focus, small businesses can connect with customers looking for their exact product or service much faster. Once businesses have identified what makes both them and their customers unique, they're ready to design successful digital marketing strategies. Related: 3 SEO Mistakes That Are Hurting Your Rankings — and 3 Ways to Solve Them 3. Local SEO SEO can seem like an expensive tactic for large businesses looking for national reach. However, local SEO is a secret weapon many small businesses are not taking full advantage of. By optimizing their website for local searches, small businesses can make sure they appear at the top of search results or in Google's Map Pack when nearby customers look for their products or services. These searches often have high-transactional intent and are more likely to lead to conversions. At Outpace SEO, our local seo tactics include creating optimized Google Business Profiles for our clients and highlighting their local experience, awards, and expertise. These strategies not only generate more leads; they also help small businesses build their reputation and establish themselves as local industry experts. 4. Social media and influencer marketing Once small businesses have identified their USP and begun to build their credibility online, social media marketing and influencer partnerships will be more effective. Competing against large brands can be difficult, but if you know exactly what your customers are looking for, social media is an effective tool to highlight your services and connect with your target audience. Create content and develop partnerships that are relevant to your customer demographic. Consider their age, the platforms they use the most, and the questions they are asking. Small businesses can drastically increase their reach by partnering with a few influencers or podcasts that are popular with their target audience. 5. Email and SMS marketing Email and SMS marketing allow businesses to connect directly with customers. Many businesses use their website to gather emails and phone numbers by offering customers a discount, a free guide, or a quiz to help them determine which services are right for them. This not only piques customer interest; it allows businesses to build a marketing list and reach out to customers who are already interested in their services. It's essential to draw on market research and deliver the content that potential customers are actually looking for to avoid spamming customers and causing them to unsubscribe. 6. Monitor and update your strategy Whatever digital marketing strategies your small business employs, it's crucial to constantly monitor your success and update your techniques. Search engines, user behavior and social media algorithms are constantly changing; the only way to keep up is to regularly analyze KPIs and adjust accordingly. Monitor metrics like conversion rates, organic traffic, keyword rankings and bounce rates. Identify where your new customers are coming from by finding out where they heard about your brand. This data can help you identify which strategies provide the highest ROI, enabling you to focus your efforts on effective strategies. Related: Drive Demand For Your Brand With These 5 Proven Digital Marketing Strategies Final thoughts Digital marketing is not just for large franchises. In fact, small businesses that conduct careful research can use digital marketing to connect more directly with their target market and highlight what makes their business stand out. By creating precise marketing campaigns and constantly reviewing and updating their strategies, small businesses can use digital marketing to grow and thrive.
