Ultimate Guide to Enterprise Marketing + 6 Strategies
Having a great marketing strategy is an integral part of determining whether or not your business will be financially viable and although not all of the strategies you implement will be successful, there are still plenty of other ways you can boost the growth of your business. If you have recently scaled up to enterprise-level, you may also need to scale up your standards for marketing programs as well. In order to unlock your effectiveness as an enterprise, you will also need to develop a very good enterprise marketing strategy. This new strategy does not have to be a complex one as with just a few simple marketing and automation tactics, a stellar enterprise marketing strategy can be developed.
What is enterprise marketing?
Enterprise marketing mostly focuses on expansion and growth and encompasses a number of strategies to help you get there. These strategies also focus on the best ways to retain customers and at the same time growing your customer base. A good enterprise marketing strategy will use multi-channel strategies integrated into one another which will go much further than just your company marketing team’s efforts to expand your niche and reach your target customers.
If you are looking to make the best use of an enterprise marketing campaign, you must use all of your employees, even those who are not on the marketing team. Everyone from shareholders to developers plays a key part in identifying areas where growth can happen.
How is enterprise marketing different?
For companies with a small workforce between 0-100 [small sized businesses] and those with 100-1000 [medium sized businesses], it is not unusual to have sparse resources which also includes annual revenue and IT departments. For such business, using multi-channel marketing tactics to retain or grow their customers, you’re most likely to find them using email marketing or social media because they typically cannot afford SaaS marketing tools that bigger companies have access to. Medium-sized companies with around 100-500 staff tend to have more annual revenue than their smaller counterparts. They also tend to have more marketing software and influence as well as revenue so their marketing programs are advanced with a whole department dedicated solely to developing marketing strategies. These strategies, however, tend to not be growth centered, rather they are targeted at retaining their existing clients and making the most of their niche.
The largest companies in a business environment are usually enterprise businesses that have more than 1000 employees and make upwards of $1billion in revenue each year. These kinds of businesses have tons of assets and resources readily available to them to aid their growth efforts.
Challenges of enterprise marketing
When a marketing team that is more familiar with the techniques used at the small and medium scale is faced with enterprise marketing concerns, they are bound to run into some challenges. These frustrations are normal and can be overcome using some of these proactive strategies.
Managing vendor relationships
This strategy has to do with the inner workings of the business that are directly related to services and costs that affect vendor services. Its how a company handles all of its vendor procedures in one setting, including how SaaS tools and documents are monitored and tracked. In the same way, a content management system is used, enterprise marketers tend to make the mistake of overlooking the importance of monitoring and tracking vendor relationships as they scale up the marketing campaigns of their business. This part of marketing is quite important and should not be overlooked because it determines whether or not transactions completed through vendors start successfully and are completed.
This is usually one of the foremost challenges of enterprise marketing. Scaling up can be made easier in a few ways like changing one employee’s area of focus to other projects, although you may find some other parts will not be as easily handled. One of the main areas of concern is personalization and content targeting. As a business grows, it can be quite challenging to figure out how the company can maintain great customer relationships and target customers specifically when it is growing exponentially. What most marketers fail to realize is that there are multiple tools readily available to help enterprise businesses with content management even as they grow.
Another challenge that commonly occurs as a business tries to scale up is when they are faced with too many opinions. Since enterprise strategies tend to require input from all the departments in the company, employees from each department will seek to contribute their own insights, usually in areas they are not experts in. This leaves enterprise marketers with way too many opinions to go through or it might lead to the generation of content with a disconnect from the company’s brand voice. A way to prevent this from happening while scaling up is to have software and programs that enable content collaboration to ease communication between all departments and enables marketers to assign tasks according to the skills each department has.
Allocation of resources
A business should closely manage and track the way it operates including the resources available to you, software systems, production materials as well as customer transactions. A popular way of managing data is by using enterprise resource planning systems [ERP]. Whether or not you have an enterprise business or you are scaling up, ERPs are useful as they take away the challenges of regularly tracking important resource numbers by compiling them and putting them in an easy to spot location.
Important components of an enterprise marketing plan
There are sometimes challenges when implementing enterprise marketing which can be easily avoided if the marketing team has the right software and plans well. In addition to this, there are a few components of enterprise marketing you need to have to ensure your strategies are executed smoothly and they should be among the first things you do as you establish your marketing program.
In order for growth to happen with an enterprise marketing strategy, there needs to be a specific picture of what your strategy will be. One of the main things to be identified at this point is what the company’s goals and objectives are for the future. Knowing what these goals are will guide the creation and execution of your enterprise strategy and defines what your endpoints, and quantifiable statistics successes that show growth are. One of the challenges of developing an enterprise strategy is identifying what your objectives are like. In most cases, the shareholders and not the marketing team determine what this will be which leaves the team with the task of coming up with the ways these goals will be attained. Therefore these goals need to be identified before anything else so that the strategies are built around getting them done.
Clearly define and identify your target market
It is important to establish who your target audience is from the start. Although you will have a diverse and varied audience not to mention how large it may be, there is still a need to identify the defining traits and characters they have that lend to the identity of your brand. If this is not clear, your strategy will simply be targeted at everyone which isn’t always the best idea. It may sound good to some extent to have multiple target audience types, but it is better to have a target customer in mind because It helps to shape how you tailor your content and lets you know there is someone who knows exactly what your brands, look, voice and actions are and anticipates them. It’ll also help you connect your services or products to your customers more organically. There is nothing wrong with having multiple target customers especially as a bigger company however it is important to also identify their persona’s in order to make targeting them more efficient.
When you have successfully identified your ideal customers and goals, the next important thing is to work on talking to them directly. This can be done by creating a brand voice that will be used every single time. It may also be seen as the style guide for all of your content so whether it is going on Facebook, forms part of the product copy or the content will be shared via email, it must always maintain the same language style, demeanor, and tone of voice. There are a number of ways you can create the brand voice however, feel free to follow the step by step process below.
- Take note of your industry and competitors and figure out what makes you different from them.
- Find your business strengths and work on how they can be incorporated into your language
- Find your niche, which can be found by who your ideal customers are and the goals of your brand language which will also be influenced by your marketing strategy goals.
Helpful enterprise marketing strategies
There are a number of ways you can make your enterprise marketing program a lot easier before you even start by including these important marketing components and staying away from the challenges you are likely to face. There are also a few strategies you can add to the multi-channel program your business plans to use to reach more customers. We have listed a few of them below.
Personalize and benefit from inbound marketing strategies
Drawing in new leads to your website or a partner website carrying your products is what inbound marketing focuses on by using targeted content that is fresh and relevant. These contents are developed and tailored specifically to the lead and produced in the brand voice in a way that is engaging, entertaining, and informative so that people are more likely to follow the link. This marketing strategy has shown itself to be of major benefit to enterprise businesses because it brings the clients straight to you, thus lending support to the growth of the business. With unique content that is specifically targeted at your ideal client, you’ll find that there are more intrigued and willing to keep engaging with your brand so they can keep consuming your content. Scaling up your business becomes more effective when you produce organic leads from existing and ideal customers.
Make lead scoring a priority
The way that prospective leads are ranked is also known as lead scoring. These ranks are based on how likely it is for those leads to convert. Lead scoring is a consideration of sales funnels as it shows who is furthest away from becoming a customer and needs more attention as well as those who need little or no attention to convert. When you correctly identify the leads with top-ranking by using a CRM platform, you’ll then know which potential customers need your attention the most. When nurturing a particular lead relationship, you can use marketing automation tools to get these leads. This makes it much easier and saves the marketing team time which is very helpful for enterprises with larger audiences.
Tune business brand awareness
To boost your conversion rates, you will need to do some brand awareness building. This is akin to finding your customers using your brand voice and niche as brand weakness gives you the chance to know the best ways of getting the attention of potential customers as well as existing ones. You may already have a brand voice so testing out how different kinds of content is received by both your existing and new customers should be easy. Social media is a great way to regularly engage with your audience. It’s easy and makes your business seem more human and relatable.
Permeate the market with word of mouth marketing
This method of marketing has been around for ages. When a customer is satisfied with a service or product, they recommended it to the people around them. Many people have confirmed that a word of mouth recommendation was the reason they decided to purchase something from a company. The best way to use word of mouth is by directly sharing your messages with your audience as opposed to them finding your business via a search engine. Again, social media is a major tool for word of mouth marketing as it makes it easy to target a vast audience both within your niche and in your industry. One of the best features of this brand of marketing is that it will require little or no resources expended on your part. Affiliate marketing is a great way to use word of mouth marketing to your advantage.
Use a headless CMS to boost Omnichannel growth.
Omnichannel growth can be really promoted using a headless content management system as when a website’s eCommerce functionality is removed from it, the frontend technology can be improved upon by the developers so visitors get a better content experience. Since headless CMS has more developmental freedom, enterprise marketing programs have the ability to optimize their marketing strategies to the max. some of the things it can do are:
- Make use of customization instead of already made templates so the user experience is more personalized.
- Changes in the market can be responded to quickly with no need to disrupt the backend of the website.
- New touchpoints can be included in the front end to make all channels connected.
Enterprise marketing strategy resources should be duly allocated
To maximize your enterprise marketing strategy, there must be a way to organize all of your business marketing resources and put them in one place that is easily managed and found. There are platforms designed to enable you to use technology to engage with, create, strategize, and manage a business in the best ways possible. All the departments can work together on the marketing strategy through a hub that ensures your marketing program is managed properly.
For companies intending to go into enterprise marketing, planning can never be done too early. There are challenges that will definitely arise as you attempt to scale up marketing efforts however these strategies are a surefire way to get through them