B2B Marketing in a Recession: 3 Value-Creating Strategies

In a trying economic environment, B2B marketers must work harder to prove that their marketing efforts are not just costs, but critical components that determine the survival of their organizations. Gartner’s chief of research, Ewan McIntyre advises, “The current environment demands a relentless focus on customer value, purposeful evolution of the marketing function, and continual optimization of brand value.”  

Here are three value-creating strategies B2B marketers can adopt during an economic downturn.  

1. Invest in brand-building initiatives

Brand awareness should never be neglected in any marketing strategy, especially during unstable economic times. In fact, brands that shine during a recession lay the foundation for business growth when the economy eventually stabilizes. Therefore, companies should take the opportunity to make a name for themselves during an economic downturn. Studies also show that recessions produce 47% more up-and-coming brands compared to periods of stability (Bain and Capital).  

Companies with strong branding inch closer to being top-of-mind solutions for potential customers, making it easier for sales professionals to strike up a conversation with them. In addition, it’s vital that B2B marketers stay on top of brand-oriented metrics such as website traffic, social media engagement, search volume, impressions, and click-through rates to prove the ROI of their brand awareness strategies.  

Several ways to ramp up branding include:  

• Increasing digital presence on social media platforms, websites, email marketing, and more.  
• Pumping out content such as case studies, solution guides, and product demo videos, as well as SEO-friendly articles and website copy.  
• Attending webinars and in-person B2B networking events as a host or guest. 

Increased brand awareness can result in significant returns over time. For example, Cenareo, a French digital signage technology provider, drove a pipeline of 180k EUR in just one month by pushing out brand-building content and running creative campaigns on social media. 

2. Explore strategic lead generation tools and services

The possibility of a recession places B2B marketers under a lot of pressure to prove the ROMI of lead generation investments. Searching for top-of-the-funnel leads is much harder in a weak economy as changing market conditions result in shifting budget priorities among B2B customers.  

B2B marketers must conduct a fresh analysis of existing buyer personas and target groups, and update spending habits and customer dynamics accordingly. This data is valuable as it can be utilized to identify gaps in current lead generation activities.  

With 44% of sales professionals citing poor lead quality as one of their biggest challenges (Verse), B2B marketers need to invest in strategic tools that work efficiently and proactively in generating pre-qualified leads. 

A strategic lead generation tool can:  

• Carry out time-consuming tasks of searching and qualifying leads. 
• Identify strong leads who are experiencing pain points that their product or service can solve.  
• Free up the time for sales professionals so they can focus on having valuable conversations and following up with leads, potentially shortening the sales cycle.  

For instance, enterprise IT company Pure Storage utilized the lead generation service by ME Matchmaking to connect with the right decision-makers and secured follow-up meetings with 75% of those prospects.  

3. Deepen relationships with existing clients

Customer retention is essential to stay afloat during a recession as B2B buyers re-evaluate their investments and search for more cost-effective alternatives. Therefore, it is imperative that B2B marketers build rapport with existing clients to deepen business relationships. Studies show that existing customers are 50% more likely to purchase new products and spend an average of 31% more than new customers (Forbes). 

B2B marketers can strengthen professional relationships with current customers through: 

• Personalized emails and social media posts that address the challenges brought by the weak economy.  
• Tailored content such as blog posts, newsletters, and reports about customer needs and challenges. 

They can also:  

• Offer more flexible product packages and payment plans.  
• Catch up with existing customers at in-person industry events and social gatherings.  

In addition, a 5% increase in customer retention can produce more than a 25% increase in profit (Bain and Company) along with higher customer satisfaction scores. For instance, German building materials company HeidelbergCement received a 70% response rate on its surveys after rolling out a customer retention program focusing on strong follow-ups. Representatives set up personalized phone calls with detractors and passive customers to discuss and address their challenges, as well as come up with solutions to win back their loyalty.  

B2B marketers have zero cents to waste during an economic downturn. Therefore, they must adjust lead generation strategies and allocate budgets intentionally, while shifting their focus towards brand-building and customer retention.