One of the obstacles to scaling a B2B startup is the resources required for customer acquisition. Even when new growth is good, there is the challenge of customer retention. Without name recognition and reputation, getting and keeping customers requires most of a startup B2B’s focus. It can feel daunting to scale your business when so much of your focus is on lead generation, acquisition, and retention.
B2B is quite different than B2C. B2Cs rely heavily on creativity to build their brand and scale; whereas, B2Bs keep things as professional as possible and only add creativity where needed. For more rapid scaling, B2Bs should look to B2Cs and think unconventionally.
Here are ways for B2B startup businesses to take things to the next level in their marketing and growth strategies:
Be innovative over traditional
It’s no secret that most B2B companies choose to take the traditional route. It safer, but it doesn’t go far in terms of ROI.
One thing in common with fast growing B2B startups is that they take innovation seriously. They don’t focus on the status quo or traditional ways of doing things. In today’s business environment, if a company isn’t innovating, then it might as well call it quits.
A non-traditional approach to scaling is offering web apps to make their customers’ lives easier. Your customers have become so familiar and comfortable with apps they expect them. Instead of taking a reactive approach to buyers needs and concerns, be proactive in how you can simplify the customer experience with web apps.
Prioritize productivity with a dash of personalization
In a B2B startup company, everything is about productivity. Many businesses operate with very little downtime, if any, in order to get things done. Let’s face it: Most people want to get things done in the fastest way possible. Consumers don’t want to wait around while installing a new software. They simply want to have things set up and ready to roll when they need them.
Personalization and a human touch are important, but it’s even more critical to create a ready-to-go version for the end user. Set up your solution to meet the end user’s standards and make it usable on their terms.
Successful businesses have everything set up and ready to go for the client to use, but they also set it up according to user preference based on initial fact finding. The final product/service is tailored to the client’s needs. That’s how you incorporate a human touch without sacrificing productivity.
Don’t be afraid to go global
Many of the B2B businesses shy away from expanding internationally because they aren’t receptive to targeting new audiences. They don’t want to completely change their marketing efforts to meet the expectations of those in different countries.
If this mentality is a hold back for your company, think again. Expanding globally is an opportunity to work with other countries, different perspectives and unique audiences. This can give a small startup a lot more discoverability and the ability to reach a massive audience. Yes, this requires a different marketing strategy for every new market, but that shouldn’t be a bad thing.
It’s not easy to expand internationally, but what opportunities come easy in business? Most of them require a lot of work. People all over the globe have different perspectives, and it’s important to research and learn about these perspectives to discover product-market fit.
No matter what your goals may be, try to expand as much as possible through innovation, personalization and international opportunities—and if these goals don’t seem attainable for you just yet, strive for them in the future. This could be a game-changer for your B2B business to reach new heights this year.
Focusing on creativity, innovation, and global expansion requires an investment of funds which can take a bite out of your cash flow. This is where Allied Financial Corporation can help you reach your goals. Contact us about accounts receivable financing.