If you’re in business, you know the importance of having a solid marketing strategy. But what is the enterprise market? And how can you bring your strategy up to par? Keep reading to find out!
When I first started my business, I had no idea what the enterprise market was. I just knew that I needed somehow to get my name and my product out there. So, like many small businesses, we took our chances and went for it! We researched enterprise marketing strategies and eventually found one that worked well for us.
Nowadays, there’s a lot more information available on marketing, including specific markets like the enterprise market. As someone in business for a while now, I wanted to share what I’ve learned about this particular market; hopefully, it’ll help other small businesses take their enterprises up a notch!
So what is the enterprise market? Let’s get started!
What Is the Enterprise Market? Enterprise Marketing Explained
The enterprise market consists of businesses and organizations that buy products and services to use in their operations. This market is typically characterized by large purchases, long-term contracts, and a focus on quality and service.
Enterprise customers often have specific needs and requirements that must be met by the products and services they purchase.
Marketing to enterprise companies requires a combination of multiple strategies, including growth, retention, and acquisition.
An “enterprise” level business has over $1 billion and more than 1,000 employees.
Enterprise marketing is a process that involves more than just a company’s internal marketing team. Businesses may also need to use stakeholders, product developers, and social media to reach their target customers.
The enterprise marketing teams typically focus on sales promotions, public relations, content creation, social media marketing, advertising, and working with stakeholders. This allows the company to better target audiences and create a more comprehensive marketing strategy.
While enterprise-level businesses use multiple channels and strategies, small businesses tend to stick to just a couple, such as social media or emails.
Enterprise companies can test and use a variety of channels to target potential customers. By employing multiple departments, they can create custom strategies specific to each channel. This allows them to reach a larger audience and effectively promote their products or services.
Enterprise companies have an advantage in increasing brand awareness and expanding their customer base. Their size and relevancy give them a leg up on smaller businesses that have to compete for enterprise clients.
Larger companies can devote more time and resources to social media marketing.
How To Enhance An Enterprise Marketing Strategy
Use these five marketing strategies to grow your enterprises.
1. Word of mouth marketing
According to research, consumers talk about their favorite brand up to 90 times per week. While 75% of Americans don’t believe that ads are truthful, 70% of people believe what their friends and family have to say, and 90% of people will listen to the opinions of strangers.
WOM is still a powerful marketing tool.
Slack’s popular business chat app gets 90% of its 100 million visitors a month from word of mouth.
But, as with Slack, your startup won’t thrive by sitting back and hoping your good reputation spreads on its own.
Use word of mouth to get the word out about your business. Identify your most effective promoters, give them something great to share, and encourage them to spread the word. Track your results, and join the conversation.
2. Look for an opportunity to personalize your inbound marketing
HubSpot is a company that specializes in inbound marketing, a type of marketing that focuses on attracting customers through relevant content and engaging them with various tactics. Hence, they continue to stay engaged even after they leave the site.
The company was founded in 2005 by two co-founders who coined the term “inbound marketing.” HubSpot’s platform helps businesses attract leads, convert them into customers, and keep those customers delighted long after they’ve clicked away.
If a company as big as Salesforce.com can successfully use this method, it can work for any business.
HubSpot’s inbound marketing strategy is quite simple: they produce a lot of optimized content for search engines and relevant to the target audience. This content drives consumers to their platforms, where they are then served related content, invited to sign up for more content, and engaged in automated conversations.
When a prospect follows you on social media, you can continue to engage them by providing more relevant content, encouraging them to sign up for more, and starting an automated conversation. This will keep you top-of-mind with your prospects and attract more.
HubSpot’s inbound marketing strategy is top-notch. By providing relevant and engaging content, they invite consumers to sign up for more content, stay top of mind, and launch automated conversations.
3. Use lead scoring to generate more growth
The Lead Scoring System is a method for sales and marketing to grade how interested a prospect is in your product. They’ve been fighting over who should be in charge of the system for years.
While enterprise sales reps may feel that the leads passed to them are far too deep into the funnel, marketing professionals may believe that their sales force isn’t trying hard enough to get them.
The consumer’s journey shifts from sales and marketing’s control to marketers’. With consumers learning about and comparing products long before they contact a sales rep, it’s time that marketing departments include a lead scoring system in their nurturing efforts.
It’s time that enterprises focus on their nurturing campaigns and lead scores. This will lead to more growth and revenue.
It’s time to take a lead generation and qualification to a whole new level by automatically handing off leads to your sales team. Find software that can automatically qualify your leads into certain categories, such as asking for demos, reading specific sets of emails, or working at certain types of companies.
4. Leverage user-generated content
Reviews from peers are far more trusted than messages from companies.
Two great strategies for spreading your influence beyond your immediate network are user-generated content and influencer outreach.
In an age where consumers are very aware of the automated nature of their lives, they appreciate being able to relate to brands on a more personable and human basis.
It’s no shock that 64% of consumers will check out reviews before making a purchase, and 35% will refuse to buy anything if they cannot find any.
Using user-generated content (UGC), businesses can tap into the innate human tendency to trust other consumers. This form of marketing can take the form of customer reviews, pictures, videos, and blog posts. It can be a cost-effective way to expand your audience and build up your credibility when implemented correctly.
User-generated content is a fantastic way to build brand awareness and trust in your enterprise customers.
According to research by marketing firm Tomoson, businesses are making $6.50 for every dollar they spend on influencers. This makes them one of the most cost-effective customer acquisition methods.
While you might think of influencers as just fashion or beauty bloggers, there are plenty of ways for brands that aren’t as e-commerce-focused or sell higher ticket items to use influencer campaigns.
For example, a credit card company could partner with a popular travel blogger to introduce a new credit card, or a financial startup could work with a fashion guru to discuss how to invest in their future using their new app.
Influencer marketing involves collaborating with people who have a large following and who can promote your product or brand to their audience. You can promote your business to a wider audience by working with influencers.
5. Make omnichannel marketing easier with headless content management systems
Your enterprise needs to be able to personalize the customer experience across all channels, including websites, smartwatches, kiosks, chatbots, and smart home devices. By providing these consistent, seamless, and personal experiences, you will remain competitive, and your customers will keep coming back.
Your enterprise marketing will be next to impossible to keep up with if you don’t have a team of people who regularly update and optimize the content on your site.
A CMS stores all content in a database separate from the code that displays it.
Contentstack’s headless CMS is the perfect tool for marketers who want to optimize their content and quickly publish it to various channels and devices. With Contentstack, marketers have a single source of truth from which they can easily manage their content.
Contentstack’s headless CMS is the perfect tool for marketers who want to personalize and optimize content for consumers at every stage of the marketing funnel. With Contentstack, marketers have a single source of truth from which they can easily optimize content and quickly publish it to various channels and devices.
With Google’s newly introduced experience extensions, users can now integrate their search experience with third-party applications. These integrations enable users to get real-time recommendations for their searches, perform translations, and view relevant images, videos, and articles.
6. Update Your Enterprise Marketing Strategy
Having all the resources money can buy and being big aren’t the only ways to succeed in your marketing efforts. For many large enterprises, it’s usually just a distraction.
Consider going back to your roots with your enterprise marketing. Old-school tactics such as word of mouth and user-generated campaigns can be extremely effective in the digital world.
Consider implementing some new technologies into your workflows to optimize your marketing efforts truly. This can help your enterprise marketing teams better identify and qualify your lead base, personalize your inbound and outbound messages, and refine your multi-channel marketing campaigns.
If you’re looking to take your enterprise marketing to the next level, consider partnering with a company that specializes in personalization tools. Working with a team of experts can streamline your marketing efforts and better engage your target audience.
What is the enterprise market? The enterprise market is a specific type of market that caters to businesses. To bring your marketing strategy up to par, you need to understand this market and what it takes to appeal to it. You can take your business enterprise up a notch with the right approach!
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Go through a variety of filters to zero in on the leads you want to reach. This is crazy specific, but you could find all the people that match the following:
- A company in the Financial Services or Banking industry
- Who have more than 10 employees
- That spend money on Adwords
- Who use Hubspot
- Who currently have job openings for marketing help
- With the role of HR Manager
- That has only been in this role for less than 1 year
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