For a long time, businesses selling their products or services to other businesses relied heavily on salespeople. Building trust and good relationships are still important today but the Internet has changed a lot when it comes to the buying process. That holds true particularly for the B2C segment ever since Google introduced AdWords 15 years ago, enabling advertisers to display targeted advertising copy to inquisitive web users searching for information (by which I meanGoogling). Advertisers that have seen the most success are arguably those with the easiest and shortest path to conversion.
For B2B as well as B2C advertisers with high value items (e.g. home loans), this hasn’t always been as straightforward. Lead generation for these advertisers often takes much longer with prospects going through a lengthy self-education process and gathering information on products or services across a wide variety of websites as well – and increasingly so – checking with peers on social media.
A study from Forrester Research found that as much as 90 percent of the buyer’s journey may be complete before customers reach out directly and are committed to completing the buying process. This means that for a large part of the buyer’s journey, some kind of marketing (or remarketing) is necessary to continue the communication of relevant messages at the moments that matter.
For those unfamiliar with remarketing, it is a process by which you (re)target people with specific messaging based on the products or services on your website your audience has shown an interest in. Remarketing comes in particularly handy when your target audience hasn’t completed an action that you have defined as desirable.
Remarketing was introduced in AdWords over five years ago and these days you can buy remarketing ads on Facebook, Twitter, YouTube and so forth. It comes in many forms too but I want to tell you more about a remarketing program that could be the key to your B2B success.
LinkedIn Lead Accelerator: B2B remarketing on steroids
Many know LinkedIn as a business-oriented social media website where professionals connect and network and where businesses build out a profile to share relevant updates with their followers and attract talent. On top of this LinkedIn offers a rich variety of ad formats as part of their marketing solutions, with a lot focus on promoting quality content, whether through its Sponsored Updates or Sponsored InMail products.
Most of its ad formats have historically offered ad impressions only through www.linkedin.com and the LinkedIn mobile app but that has changed with the availability of the LinkedIn Lead Accelerator which was introduced earlier this year.
In short, the LinkedIn Lead Accelerator lets you remarket to high-quality leads by engaging prospects anywhere online with relevant ads and content. Although remarketing is not new, when overlayed with LinkedIn’s very granular targeting options – where you can target by job title, function, industry, seniority (to name a few) – it means advertisers could carve out a huge advantage when remarketing in the B2B space (as well as high value B2C).
LinkedIn Lead Accelerator lets you build what they have called “nurture streams” (or more commonly known asremarketing lists). Basically this means you can:
- Define the most desirable business demographic segments
- Identify the onsite behaviours that indicate high engagement or specific interests
- Understand the audiences that have already taken a specific actions on your website or converted
This then lets you intelligently engage with anonymous and known prospects across ad exchanges for display, and Facebook as well as LinkedIn for social.
Ad creative can be optimised through platform supported A/B testing, giving you the ability to turn off or swap creative based on real-time performance. Naturally, the message itself as well as the targeting can be adjusted based on audience interaction, engagement and other metrics.
Did you say tags?
A LinkedIn Insight Tag is a piece of code that needs to be added to your website to discover the business demographics (powered by LinkedIn data) of your website visitors such as their job function, industry, company size, seniority, and more. The tag will also help to measure the performance and ROI of your LinkedIn campaigns including clicks, conversions and more to enable in-depth campaign reporting.
What else do I need to know?
The LinkedIn Lead Accelerator is available to subscribe to via a LinkedIn Sales rep (or agency partner) on an annual subscription with the possibility of a free test period. The subscription model puts it in stark contrast with most other remarketing programs with the majority using an auction based model.
The subscription is based on a cost per unique browser which is about $2 AUD per year and is only available if you have a minimum of 20,000 unique visitors per month to your website (or part of your website that is visited by prospects that you want to nurture).
The minimum spend and unique visitor requirement means that the program might not be suitable for every business out there but this could well be the Holy Grail when it comes to a custom B2B remarketing program specifically designed for businesses selling into other businesses. Resolution have seen great success so far for a number of our B2B clients.
A lot of the concepts of the program are not necessarily new and can be done through other means but when you consider the granular targeting available through LinkedIn in combination with display and social remarketing, it could well be the best kept secret to B2B remarketing success.