B2B Growth Marketing: Complete Guide for 2024

by The MNTN Team

7 Min Read

Business-to-business (B2B) marketers frequently borrow strategies from consumer brands. In fact, many of the techniques that win over consumers can be equally effective at building profitable relationships between businesses and those offering goods and services that will help them prosper.

One of these tactics is B2B growth marketing, which focuses on expanding business relationships and revenue sustainably. Here, you’ll learn more about the approach, including B2B growth marketing benefits and how to incorporate the strategy into your brand-building game plan.

What Is B2B Growth Marketing

In its simplest terms, B2B growth marketing involves using data acquired via marketing campaigns to fuel the long-term growth and maturation of your business.

It’s not about earning a quick buck or facilitating a rapid transition from lead to conversion (though the latter can be a byproduct of the practice). Instead, it’s a matter of prioritizing sustainable expansion that supports your big-picture revenue and development goals.

B2B Growth Marketing vs. B2B Demand Generation

The terms “growth marketing” and “demand generation” are sometimes used interchangeably. However, these phrases denote two very different concepts.

B2B demand generation, in particular, focuses on creating buzz about your brand and its products. It aims to generate leads and drive top-of-the-funnel engagement.

B2B growth marketing, by contrast, goes beyond demand generation. It involves nurturing leads through the entire sales funnel, optimizing every stage of your client’s journey, and fostering long-term relationships. You aren’t just looking to make a sale with growth marketing. Instead, you’re taking the necessary steps to turn new clients into loyal supporters of your business.

Learn More: Growth Marketing vs Demand Generation

B2B Growth Marketing vs. B2B Performance Marketing

As its name suggests, B2B performance marketing is all about immediate, measurable results. In other words, your top priority is seeing your campaigns and content perform, which means you’ll need to track metrics like cost per acquisition (CPA), return on ad spend (ROAS), and conversion rates.

B2B growth marketing involves performance marketing, but it’s more holistic. You’ll be paying attention to specific performance data points like satisfaction, retention rates, and customer lifetime value (CLV). Launching content that delivers a strong ROAS is a great first step, but you need to translate that win into long-term value.

Learn More: Growth Marketing vs Performance Marketing

Benefits of B2B Growth Marketing

By embracing the concept of B2B growth marketing, you can unlock benefits such as:

Informed Decision-Making With Data Insights

B2B growth marketing relies heavily on data analytics to inform your content strategies and decision-making processes. By analyzing customer behaviors, preferences, and engagement patterns, you’ll be able to tailor your marketing efforts to align with the unique needs of each audience. Ultimately, B2B growth marketing takes the guesswork out of marketing and results in a better ROAS.

Ongoing Testing and Optimization

A core principle of the growth marketing mindset is continuous improvement. You should always strive to get better, and that applies to much more than just the content you publish.

You can always explore ways to streamline the entire customer journey. Do performance analyses, gather post-transaction feedback, and conduct A/B testing to find out what clients like and what they don’t.

Long-Term Business Expansion

Unlike short-term tactics, B2B growth marketing can drive long-term business growth and revenue. By focusing on the entire customer lifecycle, from acquisition to retention, you can ensure sustained development. You’ll be better equipped to build lasting relationships with clients and mitigate churn.

Boosted Customer Loyalty and Retention

Clients will only continue doing business with your brand if they find the experience valuable and engaging. And through growth marketing, you can keep delivering new value to clients while nurturing relationships. In doing so, you’ll increase your CLVs and even open the door for new revenue opportunities.

Increased Revenue Opportunities

B2B growth marketing creates multiple marketing touchpoints and opportunities for revenue generation. For instance, loyal clients may be more likely to refer your brand to other companies in their sphere of influence. They may also be open to upselling and cross-selling, especially if you can offer them a great deal during renewal periods.

How Does B2B Growth Marketing Work?

Some of the key steps toward proper growth marketing will feel familiar. These include:

Identifying your target audience
Developing a multi-channel, full-funnel marketing plan
Executing your strategy across various channels and platforms
Using data analytics to monitor and optimize performance
Refining future campaigns to deliver increasingly seamless experiences

Keep in mind that these steps are just a high-level overview. You’ll need to adapt your workflow to align with the industry you operate within and the specific niche you are trying to target.

For instance, if your audience is most receptive to content on LinkedIn and Instagram, you’ll need to make these channels the pillars of your strategy.

B2B Growth Marketing Channels

Choosing the right growth marketing channels for your content is critical to the success of your strategy. The ones most commonly used for B2B growth marketing are:

Content Marketing: Creates valuable assets that address the needs and interests of your audience
Email: One of the most cost-effective mediums for delivering content
Social Media: Affords the opportunity to engage with potential and existing clients
Paid Ads: Utilizing pay-per-click (PPC) campaigns on Google can grant access to a wider audience

Another unlikely but highly effective option is CTV advertising, which involves delivering targeted content to internet-connected devices, such as smart TVs. Whereas traditional TV advertising has always been difficult to incorporate into B2B campaigns, CTV ads offer the level of precision you need to win new clients. (More on this later.)

B2B Growth Marketing Metrics and Measurements

After you get your campaign up and running, you’ll need to monitor relevant marketing metrics to determine whether your content is delivering its expected results. Use a combination of short and long-term metrics, such as:

Customer Lifetime Value (CLV): The total revenue you can expect from a client during their lifetime
Customer Acquisition Cost (CAC): The cost associated with acquiring a new client
Conversion Rates: The percentage of leads that convert into paying customers
Churn Rate: The rate at which customers stop doing business with the company

Remember, each of these data points is only a piece of the puzzle on its own. By combining multiple metrics, you’ll gain a holistic view of the client journey.

B2B Growth Marketing Best Practices

Achieving long-term growth with your B2B growth marketing strategy requires a nuanced approach. To maximize your odds of success, consider the following best practices:

Get Personal: Tailor your messaging and content to the specific needs of each audience segment
Be Consistent: Maintain a consistent brand voice and message
Listen to the Data: Use analytics and relevant information to inform your marketing strategies and campaigns
Always Strive to Get Better: Don’t settle for good enough

Applying these concepts will help you create winning campaigns that your clients will enjoy engaging with.

B2B Growth Marketing Examples

Numerous companies have launched successful B2B growth marketing campaigns.

Take HubSpot as a prime example. The company offers valuable content and free tools, a practice that attracts and nurtures leads throughout each stage of the sales funnel. Some business leaders may use the platform’s free content for years before exploring paid solutions.

Another example is Salesforce, which leverages a mix of account-based marketing and personalized email campaigns to educate prospects and gradually increase interest in its products.

Using Connected TV to Achieve B2B Growth Goals

There’s a preconceived notion that television isn’t a good fit for B2B marketing. If you share that notion about traditional TV, you’d be correct. But Connected TV has changed television advertising as we know it.

Thanks to platforms like MNTN Performance TV, you can engage in precision audience targeting and measure the results of every CTV ad. Even if you are facing budgetary constraints, you can launch impactful campaigns on MNTN and deliver real results for your business.

As you explore MNTN, make sure to check out our B2B-specific tools, premium CTV inventory, and creative services. You’ll quickly discover that with MNTN you’ll have everything you need to thrive in the world of CTV advertising while simultaneously supporting your B2B growth marketing initiative.

B2B Growth Marketing: Final Thoughts

Altogether, B2B growth marketing represents a comprehensive and holistic approach that goes beyond traditional advertising tactics. By focusing on the entire customer lifecycle, you can achieve long-term growth and steady revenue.

As you forge your growth marketing game plan, consider incorporating MNTN Performance TV into your campaigns. It’ll give you the ability to precisely target niche audiences and drive powerful results.