According to Statista, the global technology market spending has reached $3,360 billion in 2019.
Adding to this, 44% of businesses plan to spend more on technology in 2020, which is a 6% increase against 2019.
The market is growing steadily, creating more space for tech brands to grow with it.
In this article, we will look into the best digital strategies your B2B tech business can employ to capitalize on this opportunity by generating more quality leads.
Let’s dive right in.
The Types Of B2B Tech Companies And Their Buyers
B2B tech solutions are highly diverse in terms of type, purpose and cost. As such, they attract different customers and map different customer journeys.
Some of the most prominent and sought-after business-to-business technology areas are:
- Software as a Service (SaaS): SaaS are cloud-based software applications. SaaS pricing can be formed per user, as a flat rate, usage-based or per feature, and the final cost can range from $50 to several hundreds of dollars. Some of the well-known SaaS products are Zoom, Slack, Skype for Business, MailChimp, Amazon Web Services, Microsoft Azure, Zendesk, Salesforce and Dropbox.
- Hardware technology: Brands such as Apple, IBM, Samsung, HP and Fujitsu deliver robust hardware solutions and enterprise infrastructures. Their products start at $1,000 and can go well beyond $10,000. Their products are designed to provide the necessary support for businesses’ IT infrastructures.
- Software services: Software development companies offer a wide range of services to businesses across industries. The cost of their services depends on their location and project complexity, typically starting at $5,000 and often exceeding $10,000.
Each type of B2B tech companies attracts specific buyers:
- SaaS tech buyers: Middle managers in large corporations and business leaders in SMEs and startups are typically the decision-makers for SaaS products including project management tools, storage systems and business analytics.
- Hardware technology buyers: Given the cost and impact of hardware tech, these buyers tend to function as a collective. They rely on the expert opinion of tech executives, while the final purchase decisions are usually made by the company leaders.
- Software services: Software services require a large investment and elaborate strategy. Much like hardware tech, software service buyers also function as a collective in terms of product research and purchase decisions.
What Does A Tech Company’s Customer Journey Look Like?
To echo the introduction, the type, purpose and cost of tech company’s products or services inform their buyers’ shopping process.
Cost plays an important role in how leads develop interest in a tech product or service, as well as how they act on it.
The providers of affordable solutions can attract customers via ads, cold outreach, viral loops and a number of other digital methods, whereas the interest in more expensive solutions almost always arises internally.
This is not to say that the providers of robust tech solutions should not invest in lead generation – on the contrary. Their approach should, however, be more focused on the specific channels and markets to generate quality leads.
In this post, we look at 5 methods any B2B tech company can use for lead generation.
What Do Buyers Invest In B2B Tech?
Spiceworks State of IT research suggests that the reasons why businesses invest in new tech are:
- To replace end of life hardware (62%)
- To refresh cycles (52%)
- Business growth (52%)
- To support end-user needs (47%)
- To meet project needs (46%)
- To leverage new tech features (31%)
- Software compatibility (30%)
Furthermore, businesses cite these three reasons for investing more in technology:
- Obtaining solutions that deliver value and provide superior customer experience
- Meeting growing customer demands
- Making better-informed decisions
B2B tech sellers and marketers can make the most of knowing all this by:
- Understanding the buyer persona and behavior patterns: What are their priorities, objectives, budget and current condition of tech infrastructure?
- Learn about their typical customer journey and adapt the sales funnel accordingly: How did they find your B2B tech company and how did they research products they need? How detailed expert knowledge base they require from you in the middle and the bottom of the funnel when they are nearing conversion?
Now let’s take a look into B2B tech lead generation tactics that follow from knowing what kind of buyers there are, what their customer journey is like and what drives their buying.
Top 5 Digital Strategies For B2B Tech Lead Generation In 2020
The following B2B lead generation strategies will prove the most effective for technology companies in 2020.
We’ll let research do the talk:
1. 96% Of Tech B2B Buyers Want Content From Industry Thought Leaders
DemandGen found that B2B buyers seek and trust content created by industry experts.
More findings also show that:
- 73% of B2B companies read through case studies when doing their research about a product or a service. (Source: DemandGem)
- 47% of them watched three or five pieces of content before reaching out to sales rep. (Source: DemandGem)
- As much as 93% of B2B companies want companies to educate them on their services and not sell to them. (Source: Forbes)
In other words: Content is a valuable lead generation tool for B2B tech companies. It can help generate interest in products or services, attracting new leads into the sales pipeline.
Or better yet, it can provide social proof to motivate the leads in the consideration stage.
At this stage, the most effective types of content that establish your company as a thought leader are:
- Case studies
- Demo videos
- Product descriptions
- Client testimonials
The way your company can use content to accelerate B2B tech lead generation is by:
- Building authority by collaborating with thought leaders as well as grooming the future ones internally
- Using video marketing to showcase products
- Creating case studies and white papers to establish credibility
2. Gamification Of Landing Pages Increases Conversion Rates x7
First, let’s dive right into some gamification findings:
- 93% of marketers favor gamification. (Source: Demand Gen)
- 88% of B2B marketers plan to change up to 30% of their content to something interactive. (Source: Demand Gen)
- Gamification can increase conversions 7x. (Source: Neil Patel)
- For 70% or marketers, interactive content converts users with success. (Source: Neil Patel)
- 89% responders to a study say that they feel eager to complete a gamified task. (Source: Talent LMS)
- Gamification can increase the number of new registered users by 600%. (Source: Forbes)
Gamification is a great lead generation tactic for B2B businesses offering affordable to moderately priced tech solutions, specifically platform subscriptions in highly competitive environments.
To introduce gamification to your digital B2B lead generation strategy, consider:
- Solution builders
- Visual tours of products or services
How does it work?
To generate leads, gamified systems usually ask the prospect to enter their contact information before, after or half-way through the processes. For instance, they may require the lead’s name and email for quiz result sharing, providing important information for future relationship building with the lead.
Other benefits of gamification for your tech business are:
- Increased conversion rates
- Increases brand awareness and loyalty through interaction with content
- More page views per user
- Improved response rates
- Landing pages with gamification are “stickier” and prolong dwell time
3. 39% Of B2B Purchase Decisions Are Motivated By A Brand’s Reputation
A study by Lippincott claims that a positive brand reputation influences as many as 39% of B2B buying decisions, whereas the price influences only 27%.
The research also suggests that B2B buyers’ number one concern is vitality and longevity of the brands whose products or services they buy.
A strong B2B brand:
- Shortens the sales cycle
- Lowers price increase sensitivity
- Creates loyal customers and drives more valuable leads
For a B2B technology company, it is paramount to build trust with potential customers.
Technology products and services are quite costly and need to have a seal of reliability that strong, trustworthy brands can provide.
However, building such a reputation takes time.
Here are some brand and credibility building tactics to consider in 2020:
- Provide consistent, valuable and relevant content to B2B tech buyers
- Work on user engagement through live support or chatbots
- Host live video events that target your leads’ pain points and explain your services in detail
4. For 66% Of B2B Companies, LinkedIn Is The Most Effective Lead Generation Platform
Social media is a powerful lead generation tool, but for B2B, there is none as powerful as LinkedIn.
- 66% of B2B companies say that LinkedIn is the most effective lead generation platform. (Source: Statista)
- 97% of B2B marketers use LinkedIn for content marketing. (Source: Content Marketing Institute)
- Over half of B2B buyers are using LinkedIn for making a buying decision. (Source: IDC)
LinkedIn is a valuable source of qualified leads for tech businesses because it attracts companies, decision-makers, B2B marketers and executives who are looking for insights, solutions and business partners.
Some of the LinkedIn lead generation tactics to consider are:
- Personal branding: Groom thought leaders internally.
- Advertising: Use InMail for cold outreach, or highly targeted LinkedIn ads to promote your offering.
- Sales outreach personalization: Use LinkedIn directories to identify the decision-makers for a more personalized sales outreach.
- Relationship building: Share valuable, unique content to gain a following and build interest.
5. 70% Of B2B Search Queries Will Be Made On Mobile In 2020
Contrary to popular opinion, B2B buyers are turning to mobile search.
- Leading B2B organizations report that mobile drives over 40% of their revenue. (Source: Google)
- 43% of product research is done via mobile devices. (Source: Finance Online)
- B2B workers’ mobile usage will be boosted 50% in 2020. (Source: BCG)
B2B buyers are switching to mobile and B2B vendors should follow.
Mobile marketing has also become very competitive, as these 2020 trends suggest:
- Mobile marketing automation will help tech companies provide highly personalized services to B2B clients.
- Mobile ad spend will rise to $165 before EOY.
- Location-based targeting will become better adjusted on mobile ad platforms.
How to capitalize on this shift?
The answer is simple: Optimize for mobile.
- Downloadable resources
- Email campaigns
- And more
To design highly effective digital lead generation strategies, B2B tech companies should keep in mind:
- The specific reasons that underpin your customers’ need for your product or service.
- How your product or service type and cost shape the customer journey, focusing on intent, research and decision-making process.
- That the most effective lead generation methods are those that support the leads in their unique customer journeys.
Finally, keep in mind that B2B tech buyers value relationships and benefits over features. Focus on your customer support and build client relationships for a maximum and long-term payoff.