B2B technology services is a growing, but fiercely competitive market. As such, more B2B technology companies are struggling to keep up with the ever-expanding competition in the quest for generating enough quality leads. There is a solution, however, that can help re-focus your lead generation strategy into offering something that B2B buyers actually want and need. That solution is inbound marketing.
Read the rest of the blog to learn more about how the growing technology market is a sign for B2B tech companies to up their lead generation game if they're to keep up with the competition and how inbound marketing can help achieve this.
The Growing Technology Market
This is an age of digital disruption and technology companies are under increasing pressure to ensure their market offerings are best-in-class. According to research by London & Partners by Pitchbook, it revealed that not only is UK one of the leading countries in Europe for global tech investors, but that venture capital investment in the UK's tech sector in 2017 amounted to almost £3 billion - nearly double the amount invested in 2016.
What's more, the technology market was forecast to grow by 4 percent across a number of different factions including technology software, cloud platform services, tech consulting services, communications and telecoms services in 2018 - reaching an estimated $3 trillion (£2.3 trillion).
With this kind of growth expected to continue, technology companies now need to improve their individual stance against competitors in the market in order to reap the benefits. However, it's important to understand that your B2B technology company won't beat out all the competition.
The technology sector is full of niche offerings of all sizes and types - so while you may not overtake a giant like Salesforce or Microsoft, figuring out where you best fit in the market is vital if you're going to take on the right competitors and generate the kind of leads your business needs.
Using Inbound Marketing to Benefit Your B2B Technology Brand
Inbound marketing is all about connecting with a specific audience. Not everyone will want your services or product - but those that do are the ones you want to focus on. These are often called "buyer personas" or a "target audience" and is an idealistic representation of your buyers. These buyers will be researching online because they have a problem to solve.
In research survey conducted by CMI, it was found that 62% of customers actively look for content that speaks to their pains and challenges in order to find the solutions. While there are many technology solutions in the world, what makes yours the right solution to a buyer's problem? Why is it different? Figuring out your specific USP is key to being able to market it in an effective way that isn't about "selling", but about providing a solution.
This is where inbound marketing comes in. Utilising inbound marketing the right way can help you understand more about what makes your buyers tick and enable you to create quality content filled with useful industry knowledge. In this way, you'll begin to form your B2B tech brand into an industry thought leader that others will seek out for your expertise.
As with any B2B purchase, the process can be complex and can include several stages with multiple decision makers. The demands and commitment required for such an offering mean it's essential for a technology company to be able to portray themselves as reputable and knowledgeable whilst also being able to stand out from competitors. Inbound marketing, when executed well, can help achieve this.
Talk to the B2B Inbound Marketing Experts
Changing your strategy for lead generation can be overwhelming and there's a lot to think about. Where do we start? What works and what doesn't? What should we be focusing on? Are we targeting the right people? Have we been using the right channels?
If you're not sure where to start or just need some advice on how to plan out a lead generation strategy that actually delivers, why not get in touch with us by scheduling a free 30-minute lead generation consultation with our expert. We'll assess your current strategy as well as walk you through how your company can start generating more quality leads through inbound marketing.