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How to Set Up a Successful B2B Marketing Strategy

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How to Set Up a Successful B2B Marketing Strategy

When you’re designing or re-evaluating your business’s long-term game plan, it’s important to ensure you’re making all the right decisions. You need to think deeply about your marketing strategy – including your company’s value proposition, your plan to reach your target audience, how you will present your brand, and how you’ll take advantage of big bets for the year ahead. In a nutshell, you need to break down exactly how your business is better than your competitor’s.

If you’re a B2B company, however, there are unique factors of your marketing strategy to consider. For example, you likely have a longer than usual sales cycle – how will you nurture leads? How will you juggle multiple stakeholders per account (or business)? Further, how can your strategy enable sales to close big-ticket opportunities?

In this post, we’ll give you the information you need to answer all those questions and more. But before we discuss all the different frameworks available for your B2B strategy, we need to get into the right mindset by analyzing the current B2B marketing landscape.

Today’s B2B Marketing Landscape

There are five key trends that will impact B2B marketers in the years to come – an abundance of marketing technology, changing demographics, the growth of mobile marketing, the emergence of AI, and tightening data privacy restrictions. Let’s dive in.

MarTech Overload

If you are in B2B, chances are one or more of the following situations has most likely happened to your business or are currently taking place:

  • During the rapid shift to digital that happen as a result of the COVID pandemic, your B2B company bought more marketing technology than what was truly needed
  • Your business has overlapping platforms. For example: 3 platforms that do ABM in some capacity or 4 platforms that help with digital marketing management
  • Your company has MarTech that solves for a unique problem 
  • Your data is not standardized or not connected throughout your MarTech stack, leaving information siloed
  • No one “owns” certain MarTech and few know how to use the platform in full

With budgets constrained and CMOs asking their teams to do more with less, B2B organizations will need to reevaluate their marketing technology stack in 2023 and beyond. The number of platforms and solutions available to teams seems to increase every day – it’s simply not sustainable for B2B marketers to maintain and appropriately use these tools.

Performance measurement is a problem in the B2B space, but it won’t be directly addressed by obtaining more and more MarTech. It comes from your B2B strategic framework which we will be discussing later on this post.

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Audience: Who is the B2B buyer today?

2023 is officially the year where Millennials and Gen Z have become dominant in B2B buying committees according to eMarketer. The American Marketing Association also states that 65% of buyers are between the ages of 18 and 40. 

This is an important shift given the older generations (Gen Xers or Boomers) will likely want to engage with a sales representative in some capacity. However, these younger generations are more inclined to do their own research. Instead of trying to get them on the phone as quickly as possible, these buyers will want to explore different types of resources to determine if your business is the right fit for them.

The MX Group surveyed B2B Millennials to understand the challenges they faced when getting purchase recommendations considered or implemented, the answers were:

  • 52% responded that too many people are part of the decision-making process. This number is expected to increase now give the diversity of buying committees
  • 49% said their buying group is indecisive/misaligned. This makes sense as different generations trust different sources and perform research differently (online vs peer reviews vs network)
  • 39% mentioned difficulty getting their budget allocated. This isn’t surprising given the economic hardships in the world economy

While it’s unlikely that your final decision maker will be a Millennial or member of Gen Z, especially when buying large ticket items, they are certainly influencing these decisions behind the scenes and providing alternatives to the buying committee.

Mobile is Growing for B2B

If you’ve been in the B2B space for a while you know that we always hear about the growth happening in mobile – but until recently, it was a small share of traffic. That’s changed as the pandemic and diverse B2B buying committees are impacting the growth of mobile traffic and actions very quickly.

2023 is the year where more than half of B2B digital ad spending will go to mobile, and while non-mobile traffic is expected to continue growing, it won’t be at the expense of mobile traffic.

chart depicting growth in b2b mobile ad spending 2020-2024

Source: eMarketer

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Mobile traffic will bring a new element of complexity to B2B marketers. For example, most large purchases/contracts won’t happen on a mobile device, but that doesn’t mean we won’t be able to engage with them through actions made for mobile devices, such as, “read later” or “send to email” promotions. The connection between marketing and sales will be imperative to guarantee we are passing prospects down the funnel.

Additionally, make sure you have CRM data that allows you to really look at lead quality and engagement over CPL. This will be a helpful directional metric, particularly when large purchases are involved.

How is AI Used in B2B Marketing?

All the data showcases that AI won’t replace the human element in advertising or SEO, and the same applies to the sales team. However, AI is going to change common marketing processes and the level of effort on redundant tasks.

B2B companies were already interested in adding AI to their processes and with ChatGPT, the interest expanded and accelerated. The real question is, when and how will B2Bs be able to leverage AI? Here are some great places to get started:

  • Content generation: Bloomreach is adding content generation capabilities across email, SMS, in-app and push notifications – all extremely manual tasks today
  • Automating email for sales representatives: Microsoft’s AI tool called “Viva Sales” will generate email content for a variety of scenarios, automatically create executive summaries and call transcripts, and even generate AI-driven recommendations to create better seller experiences
  • Customer segmentation: AI-based tools like Baremetrics and Optimove have built-in dashboards to subdivide your customers into specific groups based on their needs and characteristics

Data Privacy in B2B Marketing

Data is without a doubt critical for B2B success. Organizations hang onto data for long sales cycles and share that data with multiple stakeholders per account, so they need to work with data privacy and compliance experts and invest in strategies that guarantee data is managed and normalized across multiple internal systems. And while B2B companies are balancing those complex processes, they need to ensure they follow the latest privacy regulations.

Moreover, B2B buyers are looking to get experiences that are more closely related to what they experience in their day-to-day from B2C organizations. This means B2B marketers need to provide personalized experiences while respecting privacy at all costs and all times. That’s why we recommend following these best practices when working with B2B accounts: 

  • Use multiple sources of information: B2B prospects are complex. They can be located in multiple office locations across the world or work from home. They could be Gen Z or Gen X. They could work in marketing, finance, or any other department. To deliver the right messaging, you’ll need the right data
  • Define a goal for the data: If you ask for any personal data it must serve a purpose in your marketing and sales strategy. Otherwise, the data won’t just be pointless – it’ll be more difficult to manage
  • Establish security protocols: Make sure you are setting up your team for success by getting the appropriate certifications, risk assessments and penetration tests. And since data protection strategies are only as strong as their weakest link, you should also ask this from the companies you work with

Types of B2B Buyers

The semantics of the term “B2B marketing” has always bothered me. It almost insinuates there are no important sub-verticals in the business-to-business space. So before we keep going, let’s evaluate the key players in B2B using the model outlined by the Toronto Metropolitan University:

Producers

These types of companies take goods and services and turn them into other products and/or services. For example, a business that manufactures products from raw materials or a business that makes enhancements and modifications to existing goods. 

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Resellers

Resellers sell goods or services to another business without materially changing them. This includes wholesalers, brokers, and retailers. 

Government

The government is a large B2B buyer (not to say the largest) and they require a lot of goods and services to function properly. In order to sell to the government, very specific processes must be followed. If you are in the U.S., the General Services Administration’s website is a good place to start.

Non-profit Institutions

The last segment is formed by non-profit organizations. In many cases they could technically be grouped into the “producers” group – at the end of the day, they take goods and services and turn them into other products and/or services. However, non-profit organizations are usually segmented into their own bucket because they tend to be more incentivized to buy products they need to fulfill their mission at a lower cost.

Understanding the type of B2B buyer you’re trying to reach will allow you to create a better strategic framework that speaks directly to their needs and how they operate.

Strategic B2B Framework

There’s no single framework that works for everyone. Yet, building one and understanding that it might change with time is a good place to start setting up your team up for success.

Here are the elements you need to gather to be able to have a strategic B2B framework:

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  • Understand your market: Such as their size, needs, growth, competition
  • Have clear target personas: For B2B, this you need to understand the type of business (or account) you want to engage with while also understanding the different points of contact that will be involved in the decision making process
  • Have clear goals: Make sure to set both short and long term goals
  • Set your marketing mix: If you studied marketing or business in school, this might sound familiar. Yes, we are taking about the 4 Ps: Price, product, promotion, and place
  • Build your media mix: Think about how you are planning to reach out to your target audience
  • Synchronize and align your marketing and sales team: The hard truth is that many B2B marketers fail because of a lack of alignment with their sales team. One cannot be successful without the other
  • Forge a strong lead nurture program: You need to do more than send a few random emails to your prospects. It should be a dance that you are leading so prospects can better understand what’s next and why your business is the right fit
    • Use this to also determine which prospects are not a fit. Don’t waste their time or yours if it’s not a mutually beneficial relationship
    • This process will also ease up-sells and cross-sells later on
  • Help retain current customers: If the economy experiences a slight recession or a full on financial crisis, a good retention strategy can make all the difference
  • Measure everything: Specifically, a unified measurement plan will be pivotal with the cookie deprecation and privacy changes we are experiencing in the marketing industry

Once the foundation for your framework is established, the next stage is all about how we are going to communicate our value proposition to the prospects and current customers.

Mapping Your Content and Messaging to the B2B Buyer Journey

In order to deliver your message to your target audience, it is important to divide the information into different styles of content; video, FAQs, blog posts and so on. Now, we cannot expect the B2B buyer to just digest all of your content at once. B2B has a long sales cycle and individuals within a business will have content preferences depending on their role and seniority.

That’s why we need to align our content strategy to the B2B buyer’s journey:

Depiction of three stages of B2B buyer journey: Awareness, consideration, and decision

Source: Search Engine Land

But again, we cannot expect all this content to be consumed exclusively over email or through display banners. This is why we need to take it one step further and start layering media mix components.

Using traditional advertising platforms will look like this:

Examples of ad types to use for Awareness, Consideration, and Decision phase of B2B buyer’s journey

Remember, this strategy needs to evolve over time. As new platforms, ad types, and channels appear you will have to go through the process of updating and refining your map of the buyer’s journey.

Fitting Account Based Marketing into Your B2B Strategy

We cannot talk about B2B strategy and not talk about Account Based Marketing (ABM). Most people today believe that a platform or solution is the key to effective account based marketing. This can’t be further from the truth.

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We’ve heard it a thousand times: The foundation for any successful ABM program is alignment between marketing and sales. However, B2B organizations are still failing big time when it comes to this.

So, when you’re setting up or evaluating an ABM strategy, we must first flip the funnel. This way, you won’t invest money into programmatic advertising or mid-funnel ABM and not be able to prove if your efforts worked or not. By flipping the funnel, you’ll ensure sales is able to pass feedback to the marketing team, such as:

  • Leads that have become customers
  • Leads that are too cold and need more information
  • Valuable business, but the POC that filled the form is not the correct one
  • Leads that can be upsold or cross-sold
  • Topics that the prospects are always interested in

Once there’s a stress tested process to move data between marketing and sales, we will be able to understand what triggers the audience to finally decide they are ready to convert. This fuels additional bottom of the funnel conversions and helps you create content specific to this stage of the buyer’s journey.

When that process is complete, you will realize that some of the key personas you outlined in your framework are not filling forms or reaching out to sales. When that happens, move up in the funnel and focus on the middle – the consideration and persuasion stage. What are the common questions that we can address before they engage later on with our sales team? Which other team members should start to hear from your business? Answering these questions will help set the account up for success and better inform the buying committee about your B2B product or service.

Lastly, once we address the middle of the funnel, we are finally able to go to the top of the funnel to determine where the most qualified traffic is coming from based on implicit and explicit lead scoring signals.

Conclusion

B2B is a game of patience and strategy. You’ll need to set a strategic framework from day one to keep your whole organization focused on the same goal. On top of that, you’ll need to continue to workshop your framework on an ongoing basis since B2B buying cycles move much slower than their B2C counterparts. But setting (and refining) that framework will help you get ahead of the competition and spot key trends impacting your target companies.

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How to Use AI For a More Effective Social Media Strategy, According to Ross Simmonds

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How to Use AI For a More Effective Social Media Strategy, According to Ross Simmonds

Welcome to Creator Columns, where we bring expert HubSpot Creator voices to the Blogs that inspire and help you grow better.

It’s the age of AI, and our job as marketers is to keep up.

My team at Foundation Marketing recently conducted an AI Marketing study surveying hundreds of marketers, and more than 84% of all leaders, managers, SEO experts, and specialists confirmed that they used AI in the workplace.

AI in the workplace data graphic, Foundation Labs

If you can overlook the fear-inducing headlines, this technology is making social media marketers more efficient and effective than ever. Translation: AI is good news for social media marketers.

Download Now: The 2024 State of Social Media Trends [Free Report]

In fact, I predict that the marketers not using AI in their workplace will be using it before the end of this year, and that number will move closer and closer to 100%.

Social media and AI are two of the most revolutionizing technologies of the last few decades. Social media has changed the way we live, and AI is changing the way we work.

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So, I’m going to condense and share the data, research, tools, and strategies that the Foundation Marketing Team and I have been working on over the last year to help you better wield the collective power of AI and social media.

Let’s jump into it.

What’s the role of AI in social marketing strategy?

In a recent episode of my podcast, Create Like The Greats, we dove into some fascinating findings about the impact of AI on marketers and social media professionals. Take a listen here:

Let’s dive a bit deeper into the benefits of this technology:

Benefits of AI in Social Media Strategy

AI is to social media what a conductor is to an orchestra — it brings everything together with precision and purpose. The applications of AI in a social media strategy are vast, but the virtuosos are few who can wield its potential to its fullest.

AI to Conduct Customer Research

Imagine you’re a modern-day Indiana Jones, not dodging boulders or battling snakes, but rather navigating the vast, wild terrain of consumer preferences, trends, and feedback.

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This is where AI thrives.

Using social media data, from posts on X to comments and shares, AI can take this information and turn it into insights surrounding your business and industry. Let’s say for example you’re a business that has 2,000 customer reviews on Google, Yelp, or a software review site like Capterra.

Leveraging AI you can now have all 2,000 of these customer reviews analyzed and summarized into an insightful report in a matter of minutes. You simply need to download all of them into a doc and then upload them to your favorite Generative Pre-trained Transformer (GPT) to get the insights and data you need.

But that’s not all.

You can become a Prompt Engineer and write ChatGPT asking it to help you better understand your audience. For example, if you’re trying to come up with a persona for people who enjoy marathons but also love kombucha you could write a prompt like this to ChatGPT:

ChatGPT prompt example

The response that ChatGPT provided back is quite good:

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GPT response example

Below this it went even deeper by including a lot of valuable customer research data:

  • Demographics
  • Psychographics
  • Consumer behaviors
  • Needs and preferences

And best of all…

It also included marketing recommendations.

The power of AI is unbelievable.

Social Media Content Using AI

AI’s helping hand can be unburdening for the creative spirit.

Instead of marketers having to come up with new copy every single month for posts, AI Social Caption generators are making it easier than ever to craft catchy status updates in the matter of seconds.

Tools like HubSpot make it as easy as clicking a button and telling the AI tool what you’re looking to create a post about:

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AI social media caption generator step 1

The best part of these AI tools is that they’re not limited to one channel.

Your AI social media content assistant can help you with LinkedIn content, X content, Facebook content, and even the captions that support your post on Instagram.

It can also help you navigate hashtags:

AI social media hashtags generator example, HubSpot

With AI social media tools that generate content ideas or even write posts, it’s not about robots replacing humans. It’s about making sure that the human creators on your team are focused on what really matters — adding that irreplaceable human touch.

Enhanced Personalization

You know that feeling when a brand gets you, like, really gets you?

AI makes that possible through targeted content that’s tailored with a level of personalization you’d think was fortune-telling if the data didn’t paint a starker, more rational picture.

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What do I mean?

Brands can engage more quickly with AI than ever before. In the early 2000s, a lot of brands spent millions of dollars to create social media listening rooms where they would hire social media managers to find and engage with any conversation happening online.

Thanks to AI, brands now have the ability to do this at scale with much fewer people all while still delivering quality engagement with the recipient.

Analytics and Insights

Tapping into AI to dissect the data gives you a CSI-like precision to figure out what works, what doesn’t, and what makes your audience tick. It’s the difference between guessing and knowing.

The best part about AI is that it can give you almost any expert at your fingertips.

If you run a report surrounding the results of your social media content strategy directly from a site like LinkedIn, AI can review the top posts you’ve shared and give you clear feedback on what type of content is performing, why you should create more of it, and what days of the week your content is performing best.

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This type of insight that would typically take hours to understand.

Now …

Thanks to the power of AI you can upload a spreadsheet filled with rows and columns of data just to be met with a handful of valuable insights a few minutes later.

Improved Customer Service

Want 24/7 support for your customers?

It’s now possible without human touch.

Chatbots powered by AI are taking the lead on direct messaging experiences for brands on Facebook and other Meta properties to offer round-the-clock assistance.

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The fact that AI can be trained on past customer queries and data to inform future queries and problems is a powerful development for social media managers.

Advertising on Social Media with AI

The majority of ad networks have used some variation of AI to manage their bidding system for years. Now, thanks to AI and its ability to be incorporated in more tools, brands are now able to use AI to create better and more interesting ad campaigns than ever before.

Brands can use AI to create images using tools like Midjourney and DALL-E in seconds.

Brands can use AI to create better copy for their social media ads.

Brands can use AI tools to support their bidding strategies.

The power of AI and social media is continuing to evolve daily and it’s not exclusively found in the organic side of the coin. Paid media on social media is being shaken up due to AI just the same.

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How to Implement AI into Your Social Media Strategy

Ready to hit “Go” on your AI-powered social media revolution?

Don’t just start the engine and hope for the best. Remember the importance of building a strategy first. In this video, you can learn some of the most important factors ranging from (but not limited to) SMART goals and leveraging influencers in your day-to-day work:

The following seven steps are crucial to building a social media strategy:

  1. Identify Your AI and Social Media Goals
  2. Validate Your AI-Related Assumptions
  3. Conduct Persona and Audience Research
  4. Select the Right Social Channels
  5. Identify Key Metrics and KPIs
  6. Choose the Right AI Tools
  7. Evaluate and Refine Your Social Media and AI Strategy

Keep reading, roll up your sleeves, and follow this roadmap:

1. Identify Your AI and Social Media Goals

If you’re just dipping your toes into the AI sea, start by defining clear objectives.

Is it to boost engagement? Streamline your content creation? Or simply understand your audience better? It’s important that you spend time understanding what you want to achieve.

For example, say you’re a content marketing agency like Foundation and you’re trying to increase your presence on LinkedIn. The specificity of this goal will help you understand the initiatives you want to achieve and determine which AI tools could help you make that happen.

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Are there AI tools that will help you create content more efficiently? Are there AI tools that will help you optimize LinkedIn Ads? Are there AI tools that can help with content repurposing? All of these things are possible and having a goal clearly identified will help maximize the impact. Learn more in this Foundation Marketing piece on incorporating AI into your content workflow.

Once you have identified your goals, it’s time to get your team on board and assess what tools are available in the market.

Recommended Resources:

2. Validate Your AI-Related Assumptions

Assumptions are dangerous — especially when it comes to implementing new tech.

Don’t assume AI is going to fix all your problems.

Instead, start with small experiments and track their progress carefully.

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3. Conduct Persona and Audience Research

Social media isn’t something that you can just jump into.

You need to understand your audience and ideal customers. AI can help with this, but you’ll need to be familiar with best practices. If you need a primer, this will help:

Once you understand the basics, consider ways in which AI can augment your approach.

4. Select the Right Social Channels

Not every social media channel is the same.

It’s important that you understand what channel is right for you and embrace it.

The way you use AI for X is going to be different from the way you use AI for LinkedIn. On X, you might use AI to help you develop a long-form thread that is filled with facts and figures. On LinkedIn however, you might use AI to repurpose a blog post and turn it into a carousel PDF. The content that works on X and that AI can facilitate creating is different from the content that you can create and use on LinkedIn.

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The audiences are different.

The content formats are different.

So operate and create a plan accordingly.

Recommended Tools and Resources:

5. Identify Key Metrics and KPIs

What metrics are you trying to influence the most?

Spend time understanding the social media metrics that matter to your business and make sure that they’re prioritized as you think about the ways in which you use AI.

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These are a few that matter most:

  • Reach: Post reach signifies the count of unique users who viewed your post. How much of your content truly makes its way to users’ feeds?
  • Clicks: This refers to the number of clicks on your content or account. Monitoring clicks per campaign is crucial for grasping what sparks curiosity or motivates people to make a purchase.
  • Engagement: The total social interactions divided by the number of impressions. This metric reveals how effectively your audience perceives you and their readiness to engage.

Of course, it’s going to depend greatly on your business.

But with this information, you can ensure that your AI social media strategy is rooted in goals.

6. Choose the Right AI Tools

The AI landscape is filled with trash and treasure.

Pick AI tools that are most likely to align with your needs and your level of tech-savviness.

For example, if you’re a blogger creating content about pizza recipes, you can use HubSpot’s AI social caption generator to write the message on your behalf:

AI social media generator example

The benefit of an AI tool like HubSpot and the caption generator is that what at one point took 30-40 minutes to come up with — you can now have it at your fingertips in seconds. The HubSpot AI caption generator is trained on tons of data around social media content and makes it easy for you to get inspiration or final drafts on what can be used to create great content.

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Consider your budget, the learning curve, and what kind of support the tool offers.

7. Evaluate and Refine Your Social Media and AI Strategy

AI isn’t a magic wand; it’s a set of complex tools and technology.

You need to be willing to pivot as things come to fruition.

If you notice that a certain activity is falling flat, consider how AI can support that process.

Did you notice that your engagement isn’t where you want it to be? Consider using an AI tool to assist with crafting more engaging social media posts.

Make AI Work for You — Now and in the Future

AI has the power to revolutionize your social media strategy in ways you may have never thought possible. With its ability to conduct customer research, create personalized content, and so much more, thinking about the future of social media is fascinating.

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We’re going through one of the most interesting times in history.

Stay equipped to ride the way of AI and ensure that you’re embracing the best practices outlined in this piece to get the most out of the technology.

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Advertising in local markets: A playbook for success

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Advertising in local markets: A playbook for success

Many brands, such as those in the home services industry or a local grocery chain, market to specific locations, cities or regions. There are also national brands that want to expand in specific local markets. 

Regardless of the company or purpose, advertising on a local scale has different tactics than on a national scale. Brands need to connect their messaging directly with the specific communities they serve and media to their target demo. Here’s a playbook to help your company succeed when marketing on a local scale.  

1. Understand local vs. national campaigns

Local advertising differs from national campaigns in several ways: 

  • Audience specificity: By zooming in on precise geographic areas, brands can tailor messaging to align with local communities’ customs, preferences and nuances. This precision targeting ensures that your message resonates with the right target audience.
  • Budget friendliness: Local advertising is often more accessible for small businesses. Local campaign costs are lower, enabling brands to invest strategically within targeted locales. This budget-friendly nature does not diminish the need for strategic planning; instead, it emphasizes allocating resources wisely to maximize returns. As a result, testing budgets can be allocated across multiple markets to maximize learnings for further market expansion.
  • Channel selection: Selecting the correct channels is vital for effective local advertising. Local newspapers, radio stations, digital platforms and community events each offer advantages. The key lies in understanding where your target audience spends time and focusing efforts to ensure optimal engagement.
  • Flexibility and agility: Local campaigns can be adjusted more swiftly in response to market feedback or changes, allowing brands to stay relevant and responsive. 

Maintaining brand consistency across local touchpoints reinforces brand identity and builds a strong, recognizable brand across markets. 

2. Leverage customized audience segmentation 

Customized audience segmentation is the process of dividing a market into distinct groups based on specific demographic criteria. This marketing segmentation supports the development of targeted messaging and media plans for local markets. 

For example, a coffee chain might cater to two distinct segments: young professionals and retirees. After identifying these segments, the chain can craft messages, offers and media strategies relating to each group’s preferences and lifestyle.

To reach young professionals in downtown areas, the chain might focus on convenience, quality coffee and a vibrant atmosphere that is conducive to work and socializing. Targeted advertising on Facebook, Instagram or Connected TV, along with digital signage near office complexes, could capture the attention of this demographic, emphasizing quick service and premium blends.

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Conversely, for retirees in residential areas, the chain could highlight a cozy ambiance, friendly service and promotions such as senior discounts. Advertisements in local print publications, community newsletters, radio stations and events like senior coffee mornings would foster a sense of community and belonging.

Dig deeper: Niche advertising: 7 actionable tactics for targeted marketing

3. Adapt to local market dynamics

Various factors influence local market dynamics. Brands that navigate changes effectively maintain a strong audience connection and stay ahead in the market. Here’s how consumer sentiment and behavior may evolve within a local market and the corresponding adjustments brands can make. 

  • Cultural shifts, such as changes in demographics or societal norms, can alter consumer preferences within a local community. For example, a neighborhood experiencing gentrification may see demand rise for specific products or services.
    • Respond by updating your messaging to reflect the evolving cultural landscape, ensuring it resonates with the new demographic profile.
  • Economic conditions are crucial. For example, during downturns, consumers often prioritize value and practicality.
    • Highlight affordable options or emphasize the practical benefits of your offerings to ensure messaging aligns with consumers’ financial priorities. The impact is unique to each market and the marketing message must also be dynamic.
  • Seasonal trends impact consumer behavior.
    • Align your promotions and creative content with changing seasons or local events to make your offerings timely and relevant.
  • New competitors. The competitive landscape demands vigilance because new entrants or innovative competitor campaigns can shift consumer preferences.
    • Differentiate by focusing on your unique selling propositions, such as quality, customer service or community involvement, to retain consumer interest and loyalty.

4. Apply data and predictive analytics 

Data and predictive analytics are indispensable tools for successfully reaching local target markets. These technologies provide consumer behavior insights, enabling you to anticipate market trends and adjust strategies proactively. 

  • Price optimization: By analyzing consumer demand, competitor pricing and market conditions, data analytics enables you to set prices that attract customers while ensuring profitability.
  • Competitor analysis: Through analysis, brands can understand their positioning within the local market landscape and identify opportunities and threats. Predictive analytics offer foresight into competitors’ potential moves, allowing you to strategize effectively to maintain a competitive edge.
  • Consumer behavior: Forecasting consumer behavior allows your brand to tailor offerings and marketing messages to meet evolving consumer needs and enhance engagement.
  • Marketing effectiveness: Analytics track the success of advertising campaigns, providing insights into which strategies drive conversions and sales. This feedback loop enables continuous optimization of marketing efforts for maximum impact.
  • Inventory management: In supply chain management, data analytics predict demand fluctuations, ensuring inventory levels align with market needs. This efficiency prevents stockouts or excess inventory, optimizing operational costs and meeting consumer expectations.

Dig deeper: Why you should add predictive modeling to your marketing mix

5. Counter external market influences

Consider a clothing retailer preparing for a spring collection launch. By analyzing historical weather data and using predictive analytics, the brand forecasts an unseasonably cool start to spring. Anticipating this, the retailer adjusts its campaign to highlight transitional pieces suitable for cooler weather, ensuring relevance despite an unexpected chill.

Simultaneously, predictive models signal an upcoming spike in local media advertising rates due to increased market demand. Retailers respond by reallocating a portion of advertising budgets to digital channels, which offer more flexibility and lower costs than traditional media. This shift enables brands to maintain visibility and engagement without exceeding budget, mitigating the impact of external forces on advertising.

6. Build consumer confidence with messaging

Localized messaging and tailored customer service enhance consumer confidence by demonstrating your brand’s understanding of the community. For instance, a grocery store that curates cooking classes featuring local cuisine or sponsors community events shows commitment to local culture and consumer interests. 

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Similarly, a bookstore highlighting local authors or topics relevant to the community resonates with local customers. Additionally, providing service that addresses local needs — such as bilingual service and local event support — reinforces the brand’s values and response to the community. 

Through these localized approaches, brands can build trust and loyalty, bridging the gap between corporate presence and local relevance.

7. Dominate with local advertising 

To dominate local markets, brands must:

  • Harness hyper-targeted segmentation and geo-targeted advertising to reach and engage precise audiences.
  • Create localized content that reflects community values, engage in community events, optimize campaigns for mobile and track results.
  • Fine-tune strategies, outperform competitors and foster lasting relationships with customers.

These strategies will enable your message to resonate with local consumers, differentiate you in competitive markets and ensure you become a major player in your specific area. 



Dig deeper: The 5 critical elements for local marketing success

Opinions expressed in this article are those of the guest author and not necessarily MarTech. Staff authors are listed here.

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Battling for Attention in the 2024 Election Year Media Frenzy

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Battling for Attention in the 2024 Election Year Media Frenzy

Battling for Attention in the 2024 Election Year Media Frenzy

As we march closer to the 2024 U.S. presidential election, CMOs and marketing leaders need to prepare for a significant shift in the digital advertising landscape. Election years have always posed unique challenges for advertisers, but the growing dominance of digital media has made the impact more profound than ever before.

In this article, we’ll explore the key factors that will shape the advertising environment in the coming months and provide actionable insights to help you navigate these turbulent waters.

The Digital Battleground

The rise of cord-cutting and the shift towards digital media consumption have fundamentally altered the advertising landscape in recent years. As traditional TV viewership declines, political campaigns have had to adapt their strategies to reach voters where they are spending their time: on digital platforms.

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According to a recent report by eMarketer, the number of cord-cutters in the U.S. is expected to reach 65.1 million by the end of 2023, representing a 6.9% increase from 2022. This trend is projected to continue, with the number of cord-cutters reaching 72.2 million by 2025.

Moreover, a survey conducted by Pew Research Center in 2023 found that 62% of U.S. adults do not have a cable or satellite TV subscription, up from 61% in 2022 and 50% in 2019. This data further underscores the accelerating shift away from traditional TV and towards streaming and digital media platforms.

As these trends continue, political advertisers will have no choice but to follow their audiences to digital channels. In the 2022 midterm elections, digital ad spending by political campaigns reached $1.2 billion, a 50% increase from the 2018 midterms. With the 2024 presidential election on the horizon, this figure is expected to grow exponentially, as campaigns compete for the attention of an increasingly digital-first electorate.

For brands and advertisers, this means that the competition for digital ad space will be fiercer than ever before. As political ad spending continues to migrate to platforms like Meta, YouTube, and connected TV, the cost of advertising will likely surge, making it more challenging for non-political advertisers to reach their target audiences.

To navigate this complex and constantly evolving landscape, CMOs and their teams will need to be proactive, data-driven, and willing to experiment with new strategies and channels. By staying ahead of the curve and adapting to the changing media consumption habits of their audiences, brands can position themselves for success in the face of the electoral advertising onslaught.

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Rising Costs and Limited Inventory

As political advertisers flood the digital market, the cost of advertising is expected to skyrocket. CPMs (cost per thousand impressions) will likely experience a steady climb throughout the year, with significant spikes anticipated in May, as college students come home from school and become more engaged in political conversations, and around major campaign events like presidential debates.

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For media buyers and their teams, this means that the tried-and-true strategies of years past may no longer be sufficient. Brands will need to be nimble, adaptable, and willing to explore new tactics to stay ahead of the game.

Black Friday and Cyber Monday: A Perfect Storm

The challenges of election year advertising will be particularly acute during the critical holiday shopping season. Black Friday and Cyber Monday, which have historically been goldmines for advertisers, will be more expensive and competitive than ever in 2024, as they coincide with the final weeks of the presidential campaign.

To avoid being drowned out by the political noise, brands will need to start planning their holiday campaigns earlier than usual. Building up audiences and crafting compelling creative assets well in advance will be essential to success, as will a willingness to explore alternative channels and tactics. Relying on cold audiences come Q4 will lead to exceptionally high costs that may be detrimental to many businesses.

Navigating the Chaos

While the challenges of election year advertising can seem daunting, there are steps that media buyers and their teams can take to mitigate the impact and even thrive in this environment. Here are a few key strategies to keep in mind:

Start early and plan for contingencies: Begin planning your Q3 and Q4 campaigns as early as possible, with a focus on building up your target audiences and developing a robust library of creative assets.

Be sure to build in contingency budgets to account for potential cost increases, and be prepared to pivot your strategy as the landscape evolves.

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Embrace alternative channels: Consider diversifying your media mix to include channels that may be less impacted by political ad spending, such as influencer marketing, podcast advertising, or sponsored content. Investing in owned media channels, like email marketing and mobile apps, can also provide a direct line to your customers without the need to compete for ad space.

Owned channels will be more important than ever. Use cheaper months leading up to the election to build your email lists and existing customer base so that your BF/CM can leverage your owned channels and warm audiences.

Craft compelling, shareable content: In a crowded and noisy advertising environment, creating content that resonates with your target audience will be more important than ever. Focus on developing authentic, engaging content that aligns with your brand values and speaks directly to your customers’ needs and desires.

By tapping into the power of emotional triggers and social proof, you can create content that not only cuts through the clutter but also inspires organic sharing and amplification.

Reflections

The 2024 election year will undoubtedly bring new challenges and complexities to the world of digital advertising. But by staying informed, adaptable, and strategic in your approach, you can navigate this landscape successfully and even find new opportunities for growth and engagement.

As a media buyer or agnecy, your role in steering your brand through these uncharted waters will be critical. By starting your planning early, embracing alternative channels and tactics, and focusing on creating authentic, resonant content, you can not only survive but thrive in the face of election year disruptions.

So while the road ahead may be uncertain, one thing is clear: the brands that approach this challenge with creativity, agility, and a steadfast commitment to their customers will be the ones that emerge stronger on the other side.

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