We may be technically out of recession but for many businesses, times are still tight and with squeezes in both consumer and public sector, it is often the B2B businesses that are stuck in the middle, beings squeezed from both sides.

So what can businesses to business organisations do to make the most of their marketing in these testing times?

1)    Manage your sales pipeline more effectively

In a recession your buyers can take even longer to make a decision about a purchase, especially in a B2B environment. They may be being more cautious, trying to put off a purchase, or reviewing what they buy from whom.

You need to identify people all the way through your sales pipeline (not just at the point when they ask for a price or quote). How do you identify a prospect? What processes do you have in place to capture their details so you can continue to build a relationship with them?

For those people who may still be in the information gathering stage (i.e. visiting your website, following blogs or requesting information) you need a lead nurturing programme that will keep your business front of mind without going in for the hard sell. You need to be able to identify which leads are further down the sales pipeline and require more direct interaction and those that need a more nurturing approach.

For those prospects who are further down the sales process, you could look at creating specific content that will appeal to them. For example, guides or white papers on ‘Questions to ask when selecting a widget provider’ would help identify those people who have moved on from pure research and are looking to buy widgets.

2)    Keep your business front of mind

Sometimes you don’t know when someone is in the market for your product and service. You can look for trigger points, but you can also build a relationship before they buy through regular and relevant contact.

Things to consider -

• Do you have an email subscribe on your website to gather email addresses?
• Do you offer free guides or whitepapers?
• Do you pass on useful information in terms of updates, blogs or bulletins?
• Do you have a newsletter?

People often worry about ‘bothering’ prospects by keeping in contact, but ask yourself how many times have you had a client or prospect purchase something from a competitor that you could have supplied. At the point when people are ready to buy, they won’t remember some information you sent them 6 months ago, you need to make sure you are a name they can easily remember and will get on their potential shortlist.

3)    Focus on your in-house list

In a recession you may have less money to spend on acquiring new customers. The solution is to refocus your attention on marketing to the people you already know. There are many opportunities to contact them.

• Review past clients or prospects - can you identify a likely buying pattern – if you quoted for them 10 months ago, are they likely to be asking for quotes again for the contract?
• Build a contact list – get details off people’s outlook address books, order pads or your accountancy software and keep it fresh and up to date.
• Do your current clients know about all your services? Let them know about other areas of your business or any new products or services you now offer.
• Blow your own trumpet. Case studies can be very powerful at demonstrating what you do and how you do it. They also give you an opportunity to show expertise in a particular sector. And don’t forget PR opportunities in local business and trade press.

4)    The power of referrers

If you need to reach a particular audience but have a limited budget to do it, one solution is to look at piggybacking the clients or contact base of another organisation.

Who else is dealing with your prospects? Are there non-competing businesses with the same client base and a synergy of services? What about Trade Associations or Bodies?

If you can build a relationship whereby these organisations will refer business to you, it can provide a steady stream of cost effective leads. This relationship could be something that benefits the referrer (i.e. allows them to offer a fuller service to their clients), could be mutual (swapping referrals) or if the organisation is something like a trade association you could offer their members exclusive benefits, which adds value to their organisation.

There are many options; you just need to think a bit more laterally.

5)    Networking

When times were good, as a B2B marketer you may have not needed to network. I often hear “Everyone knows who we are” as an excuse not to be more proactive. But networking can be a great way of making new contacts and building referrer relationships.

Check out which ones are in your area and suit your business. We use BNI  as it is a breakfast meeting so doesn’t impact on the working day and is focused on referrals rather than pure networking ... and it brings in about two thirds of our new business, so well worth the early start.

6)    Look at low cost options

Unlike previous recessions there are now many more media options available for businesses. Social media, email and online marketing are cost effective and if managed correctly should be a part of your marketing tool box (in good times and the bad).

Platforms such as mailchimp offer free email build and distribution for lists of up to a 1000 (well within many B2B businesses in house lists).

Blogging is accessible for all and if you are not sure what to blog about read our previous blog ‘No more excuses – 10 blog ideas for every business’ .

7)    Focus money on the best performing sectors, markets and customers

Sounds obvious but all too often, companies continue down the paths they have always done and this may not be the best use of your resources. To get the best return on your marketing investment, target the markets that will give you best return – this could be because of opportunities, lack of competition, maybe you have a great track records or margins are very healthy.

But make sure you have a strong message and credentials for this market and with marketing backing can make a real splash.

And finally – don’t forget to target your high value customers and clients. New business is important but companies can neglect current customers as they focus all their time and effort on winning new business. Look at your best customers (who are usually frequent buyers and high spenders) and make sure they are looked after and you have squeezed every last opportunity for business from them!

So even if things are tight, there is never an excuse to stop marketing – you just need to refine what you do and look at some fresh options.