You can’t be perfect at everything you do – which is why agencies are a godsend for growing a B2B brand. Agencies are a lifeline – an outsourcing avenue built for success. Outsourcing simplifies processes, allows experts to handle what they’re experts at, and allows you to focus on what you’re good at.
Before the pandemic, the global outsourcing market reached a total of $92.5 billion – a staggering figure that proves how much businesses rely on their outsourcing partner. The same study by Fortunly concluded 300,000 jobs get outsourced outside of the US because it’s easier on the bank account. Below, we will explore where five agency’s getting a share of the $92.5 billion.
A Customer Loyalty Agency
A customer loyalty agency is potentially one of the best you can partner with to promote a strong working relationship. You have up to a 90% chance of selling to loyal customers, compared to a total of 20% to new customers. Why? Because loyal customers know your brand, your processes, and the individual people in your sales teams.
Frequent communication and the length of a buying cycle mean the connection between brand and buyer is deeper than it would be between a business and a consumer. Why not reward a business by partnering with an incentives scheme agency like IncentiveSmart to develop a reward program that works.
You can reward for purchases, the duration of an active account, and referrals. You can find more information at www.incentivesmart.com. If you can increase your customer retention using b2b loyalty programs by 5%, you can increase your overall profits by up to 95% – one study found by Business2Community found.
Marketing Agencies (Of Course)
Marketing agencies are naturally the most commonly used agency by a business – whether B2C or B2B. Interestingly, 41% of brands conduct their marketing in-house. That’s interesting because there’s a lot of expertise that goes into marketing. Strategy formation and execution and tracking the results of a campaign are just some of the things involved in a successful marketing campaign.
And, according to Statista, brands dedicate 5% of their budget to marketing campaigns. That’s such a small amount compared to the significant impact a successful marketing campaign has. Marketing agencies can help you develop SEO, PPC, social media, and affiliate marketing campaigns that work. If you don’t already, think about how beneficial it might be to outsource at least some of your marketing efforts.
Content Creation Agencies
Research shows that a B2B buyer will read 13 articles before deciding to start the buying cycle. B2B brands with the most success supposedly spend 40% of their marketing budget on content creation – and that’s because the content is king. Content creation agencies can help you create blog posts, content for marketing campaigns, website content, and so much more.
Some interesting statistics might make you think about how much you invest in content creation. B2B blogs delivering interesting and valuable content, for example, helps drive 52% more traffic than just promotional content does. And that 50% of all content created by B2B brands focuses on brand awareness and interest. That’s where content creation agencies come into play.
It’s easy to assume that B2B content needs to be formal and somewhat dull because you’re appealing to a professional business – but that’s not the case. Everyone can appreciate an interesting and charismatic read – something content creation agencies are great at producing.
Plus, you can give them a guide on the style and information you’d like included, and they find a way to bring it to life in the form of the content they write.
Outsourcing is a big part of running a B2B brand. Outsourcing is a lifeline that passes the responsibility from one business to another to support B2B growth. Consider rethinking what you outsource, your budget for it, and what’s working for you right now.