The year 2020 started as a bright new phase for the world of B2B marketing. Many organizations started employing innovative strategies to highlight their B2B solutions. By March 2020, the world was up for an unexpected and unnecessary surprise, called the coronavirus pandemic. Today eight months later the pandemic is still raging and we are finding ourselves adjusting to life in this “new normal”.
B2B Marketing has Slowed but not Stopped:
According to multiple studies carried out all over the globe, it is clear that the B2B marketing sector has been impacted by this global pandemic. The good news is that it has already started to rise again even though the pandemic rages globally. This is particularly true in the case of B2B buyers entering the market looking for solutions specially designed for the post-pandemic world. They seem to be willing to spend even more than earlier on these new solutions.
Diminishing Marketing spends:
The pandemic saw a trend of companies holding back various cost heads, not the least of which was the money spent on marketing. In a traditional setup, a company requires a full team of marketing executives who need to be remunerated irrespective of the business situation.
Outsourcing- The way forward:
One of the most important things this pandemic taught organizations is that it isn’t necessary to have a huge team of full-time staff working around the clock to have a successful B2B marketing strategy. In light of this, outsourcing the marketing tasks seems like the logical solution. Due to the lockdowns imposed by governments all over the world, digital channels and social media have become more integral to marketing than ever before. Companies can assess the possibility of outsourcing not just in the US, but also various low cost overseas options, including India.
Flexibility of the Solution:
The best part of going remote and digital with your B2B marketing is not just that it saves a lot of costs but also the flexibility it offers to the organization. Depending on the progress we achieve in terms of this virus and pandemic, companies have the option of either continuing the outsourcing or falling back to the traditional practices depending on the need.
Eventually, it all comes down to the willingness of the organizations to innovate not only their B2B solutions but also their approach towards overall marketing. After all, “Hindsight is 20/20.”