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Have you ever thought about what will happen if your B2B venture crashes in between because you failed to keep with the new B2B trends?
When research was conducted related to the above question, 60% B2B owners claimed that they knew the consequences they would face if they did not live up to the B2B standards, whereas 40% of B2B owners were simply ignorant of what might happen.
Whether you are a familiar folk or a B2B marketer starting from scratch, you need to know how detrimental it will be if you do not evolve with the current B2B trends.
1. Customers will scream and run away.
Obviously, in the world of colour television, if you play your radio, it’s outdated, and you will lose your entire customers. I mean, no customer would want to travel back to the 90s unless and until he has a time travel machine—customers like new things, new methods, ideologies and technology. Whether your company offers services or products, you have to get it running the right way through modernistic approaches, tricks, and advertisement techniques.
2. Your brand position will rank at zero levels.
A report shows that those B2B companies who do not pull up their socks or follow traditional marketing methods have more chances of facing a decrease in their brand value.
Ya, I know that’s sad, but that is the truth!
So watch out.
3. Losing power and control
Once you lose your brand value, position, and customers, your brand power will indeed run down the well. You will lose the reins of market control.
4. Profit will seem McKinley to you.
The ultimate reason for doing business is to earn profit. If you do not have customers, followers – how on earth are you supposed to earn the dollars?
5. The sales cycle will have minus speed.
Every one of us reading this article has a basic idea about the sales cycle. When you do not have B2B clients for your services and products, your sales cycle will peddle reversely, i.e. that means a complete loss in business.
6. Leads will bounce back.
There is no question of leads getting converted to clients. Without a brand position and social rapport, most leads will turn their shoulders over your business!
Ouch! Did that statement hurt?
Well, there is nothing you can do about it either because the truth hurts!
7. Contributor of country's economic loss
When you have a well-established B2B business, you have the lion’s share in contributing towards the country’s economic growth, i.e. GDP. Due to any reason, if your business crashes, you will end up contributing negatively to the country’s GDP.
It’s a matter of shame!
8. Creating a wave of distrust
When you lose customers, you will lose their trust. If you have a good performing B2B business and land up in doom, customers would surely lose a part of their trust. Additionally, part of the crowd would not even be in the mood to try out other new B2B budding companies.
So you see, you would lose your brand dignity and partially shut doors for upcoming B2B businesses in your niche.
It isn’t delightful!
9. Burning the concept of thought market leadership
Even though market leadership is a concept developed to educate and motivate new employees, if your B2B business runs down the lane, the thought of market leadership will run down too.
What can you do about it?
To avoid the horrible consequences of not following the B2B trends, you can follow specific hacks given below:
- 1. Keep with your B2B standards
- Setting up your B2B standards and understanding their importance can surely save you from a crisis.
- 2. Take measures to forecast
- Analyzing and forecasting your business is very important. It would be best if you equipped yourself with the necessary tools to be open to all challenges when the time comes.
- 3. Keep a backup
- You never know when your B2B business might have to face a crisis, the best thing you can do is keep yourself prepared for the worst. Set up a crisis management plan, form a team, and allocate a specific budget to it.
- 4. Reach out to a B2B lead provider
- Even if you have sufficient clients, keep in touch with a reputed B2B database provider like Fountmedia, who can provide you with genuine B2B leads even during a crisis.
- In the end, I have not written this blog to scare you but rather to create awareness among everyone who is reading this. It is better to buckle up your shoes rather than regret later ahead. Being a B2B marketer or owner is not an easy task. It’s high time you realize your worth and understand that how important is B2B business for an economy.