Global B2B Geomarketing Trends

1. Global B2B Geomarketing Trends The rapid advancement in location-based technology has pushed geo-marketing to the front lines of marketing strategies. Companies are investing heavily in geography-based marketing techniques to connect with ideal buyers. According to the latest 2019 report by Zion Market Research, the global geo-marketing market spending was approximately $ 7.4 billion in 2018 and is expected to reach approximately $ 38.1 billion by 2025. B2B approach to geographical marketing With the B2B industry shifting more than ever towards specializing in niche products and services, finding the right areas to target is now crucial to any business. Global B2C ports are already reaping impressive benefits by integrating location-based targeting; Timberland increased store visits by 6% while popular fast food chain Dunkin 'Donuts reported a staggering 72% increase in clickthrough rates (CTR). There's no reason B2B companies can't use a similar strategy to make targeting their ads more efficient. The journey of B2B sales is very complex and usually involves hopping between 3-5 decision makers to get to the bottom. B2B marketers can use the digital footprint of geographic data to de-clutter and provide personalized, well-customized, and industry-specific content straight to the ideal point of contact. With that in mind, let's take a look at the ways B2B companies can incorporate geo marketing into their ad directory. Create geo-targeted leads based on the personality of a specific buyer A study by Salesforce shows that 80% of users who make use of location-based services are interested in updates from the businesses they care about. Moreover, the more campaigns run, the more customer data is collected which can be used for making buyer personality adjustments. Audiences are filtered based on their specific interests, geographic regions, technologies they use and their current job titles. As B2B companies look to establish a sustainable relationship with their customers, geo-marketing will enable companies to offer a personalized and relevant content outreach strategy. Platforms like Google Ads

2. allow you to set campaigns by segmenting audiences based on their geographical locations. Audiences re-targeting via social media platform When it comes to B2B companies, LinkedIn is the most popular and influential social media marketing channel. LinkedIn ads can be used to target geographic and demographic audiences to obtain more accurate results. As part of the multi- channel marketing effort, these leads can be retargeted via other social media platforms such as Facebook and Twitter. Other platforms like Instagram and Snapchat also offer geo-targeting options. Mobile Marketing A recent study by search engine Land showed that ads on the geo-targeted Display Network achieved twice the click-through rate (CTR) compared to the industry benchmark. According to the Marketing Professors, more American adults are using mobile devices than traditional computers when searching for local products and services. The success of location-based strategies relies heavily on mobile device usage as they provide accurate segmentation data based on geographic location. Decision makers are using smartphones and tablets to navigate the buying journey in new ways. For example, B2B trade shows can use geo-targeting to send custom location-based invitations to relevant leads in the region. By creating a virtual geofence, it is possible to participate in a gathering of business owners, employees or consultants at a conference, seminar or webinar. Geotargeting for B2B organizations allows a pathway to mobile-based marketing that was previously only owned by B2C marketers. Finally As geo marketing efforts are showing positive results, marketers try to figure out ways to deliver the same results to B2B organizations. Some of the limitations and challenges they usually face are: The rate of B2B buyers who buy more products online for their companies is steadily increasing.

3. Buyers are slow to switch to mobile. B2B customers are less likely to be on their phones during business hours. As much as these limitations provide a real hindrance to marketing efforts, with more developments to come, it is only a matter of time before marketers crack the code to make geo marketing prevalent in the B2B sector.