Growth strategy for B2B - On a small budget (under £1,000 p/m)
Summary
TLDRThis video offers strategies for doubling B2B revenue while maintaining profit margins. It outlines two funnel setups based on budget, starting with identifying the ideal customer profile and testing hypotheses in the market. For low budgets, the script suggests cost-effective outreach via cold emails and manual prospecting, promoting a lead magnet and creating educational content. For higher budgets, it recommends adding paid ads, exploring different offers, and using a comprehensive CRM like HubSpot. The video emphasizes the importance of scaling marketing efforts and managing costs for a positive ROI.
Takeaways
- 🚀 Start with a clear understanding of your Ideal Customer Profile (ICP) and messaging to test hypotheses in the market.
- 📬 Utilize cold email outreach for low-budget marketing, using tools like Instantly or Smartly for scalability.
- 🔍 Engage in manual prospecting via LinkedIn to gauge interest and build relationships with potential customers.
- 🧲 Promote a lead magnet to attract potential customers instead of directly booking calls, which can have a low response rate.
- 📝 Create valuable content to educate the market about your product or service and address frequently asked questions.
- 📈 Use a CRM system like HubSpot for email marketing and to manage your sales pipeline efficiently.
- 🌐 Develop a basic website that clearly communicates your offer, includes case studies, and provides company background.
- 💼 Consider hiring a Virtual Assistant (VA) to handle time-consuming tasks, allowing you to focus on high-leverage activities.
- 💰 For a low-budget strategy, expect to invest around £750 per month, covering tools and services for outreach and content creation.
- 📈 Scale your marketing efforts with paid ads and additional lead magnets to address main objections in your sales process.
- 📊 As your budget increases, consider investing in more sophisticated tools like HubSpot for integrated marketing and sales operations.
Q & A
What is the main focus of the video script?
-The main focus of the video script is to explain two different marketing funnels for B2B businesses to potentially double their revenue while maintaining high profits and margins.
What is the first marketing funnel designed for?
-The first marketing funnel is designed for businesses with a low budget, typically those with under 10 employees who have relied on referrals and are looking to acquire new customers.
What is the starting point for any B2B marketing strategy according to the script?
-The starting point for any B2B marketing strategy is the 'identify' stage, where businesses should be clear about their target audience (ICP), the offer, and the messaging around it.
What are the two cost-effective methods suggested for the low-budget marketing funnel?
-The two cost-effective methods suggested are cold email outreach using tools like Instantly or Smartly, and manual prospecting through platforms like LinkedIn.
What is a lead magnet and why is it recommended in the script?
-A lead magnet is a piece of valuable content offered for free to attract potential customers. It is recommended because it helps gauge interest in the product or service without requiring a commitment from the potential customer.
What role does content creation play in the low-budget marketing funnel?
-Content creation plays a crucial role in the low-budget marketing funnel as it helps to educate the market about the product or service, answer frequently asked questions, and promote the lead magnet across various platforms.
What tools or platforms are suggested for email marketing in the script?
-The script suggests using email platforms like HubSpot, Airtable, or Brevo for email marketing, as they provide a simple way to store contacts and send emails.
What is the estimated monthly cost for the low-budget marketing funnel?
-The estimated monthly cost for the low-budget marketing funnel is around 750 pounds, which includes the cost of outreach tools, CRM setup, and hiring a virtual assistant (VA).
What is the main difference between the low-budget and the higher-budget marketing funnels?
-The main difference is the addition of paid ads and more lead magnets in the higher-budget funnel. It also involves a more structured setup with a larger team and the use of more advanced tools like HubSpot for all-in-one marketing and sales solutions.
What are some of the tools mentioned for content creation and posting?
-Some of the tools mentioned for content creation and posting include HypeFury for cross-posting on social media platforms, Teller for video recording and editing, and TypeDream or Card for website creation.
How does the script suggest scaling up the marketing strategy with a higher budget?
-The script suggests scaling up by investing in paid ads, such as Google Ads and LinkedIn Ads, creating more lead magnets to address sales objections, and using a comprehensive CRM like HubSpot to manage the marketing process more efficiently.
Outlines
📈 Low Budget B2B Marketing Strategy
This paragraph outlines a marketing strategy for small B2B businesses with limited budgets. It begins with the 'identify' stage, emphasizing the importance of understanding the ideal customer profile (ICP), offer, and messaging as a hypothesis to be tested in the market. The speaker suggests two cost-effective methods for outreach: using cold email tools like 'instantly' or 'smartly' for scalability, and manual prospecting via LinkedIn. The strategy includes offering a 'lead magnet' to attract potential customers and then nurturing leads with email marketing. Content creation is also highlighted as a key activity, with recommendations for platforms and topics. The paragraph concludes with advice on setting up a basic website and CRM system, and the estimated cost of implementing this strategy is around £750 per month, with a focus on utilizing a virtual assistant (VA) for time-intensive tasks.
🚀 Scaling Up B2B Marketing with a Larger Budget
In this paragraph, the speaker discusses an advanced B2B marketing strategy for businesses with a larger budget. The foundation remains the same with the 'identify' stage, but the strategy now includes multiple lead magnets to address sales objections. The main difference is the introduction of paid ads, such as Google and LinkedIn ads, and considering different offers like upsells or downsells based on customer feedback. The speaker advises on automating more processes with tools like 'drify', and emphasizes the importance of having a robust CRM system like HubSpot, which, despite its cost, offers an integrated solution. The content creation process is also expanded, with HubSpot being recommended for repurposing content. The paragraph also touches on the exponential increase in costs as marketing spend grows, and the need for a bridging offer to convert paid traffic into customers. The speaker concludes by encouraging viewers to assess their current funnel and fill in any gaps with the strategies discussed.
Mindmap
Keywords
💡B2B Revenue
💡Marketing Funnel
💡Low Budget
💡Identify Stage
💡ICP (Ideal Customer Profile)
💡Outreach
💡Lead Magnet
💡Content Creation
💡CRM (Customer Relationship Management)
💡Paid Ads
💡Upsell and Downsell
💡ROI (Return on Investment)
Highlights
The video offers strategies to double B2B revenue while maintaining high profits and margins.
Two different funnel setups are presented based on budget constraints.
For low-budget businesses, the video suggests starting with an identify stage to define the ideal customer profile (ICP).
Outreach through cold emails and manual prospecting on LinkedIn is recommended for cost-effective lead generation.
Promoting a lead magnet instead of direct calls increases response rates.
Creating content by addressing frequently asked questions and challenges can educate the market and attract leads.
Email marketing setup using platforms like HubSpot or Airtable is essential for nurturing leads.
A basic website with clear messaging, case studies, and company background is advised.
Linking to social media and blog on the website can increase brand visibility.
The cost for a low-budget marketing strategy is estimated at around £750 per month.
For businesses with more budget, adding paid ads and considering upsells or downsells is suggested.
Investing in HubSpot for CRM and marketing can streamline processes but comes at a higher cost.
Outsourcing tasks to a virtual assistant (VA) can save time and allow for focus on high-leverage activities.
The cost of marketing increases exponentially as the business grows and scales marketing efforts.
Paid ads on Google and LinkedIn can help target the right audience and convert leads.
Creating offers that bridge the gap between paid traffic and customer conversion is crucial.
The video emphasizes the importance of ROI when scaling marketing efforts.
A self-assessment of the current funnel is recommended to identify gaps and areas for improvement.
Transcripts
if you're looking to double your B2B
Revenue while keeping profits and
margins High then watch this video cuz
I'm going to break down two different
funnels you can get set up depending on
your budget so the first one here on the
left is if you have a really low budget
so this is if you have maybe like under
10 employees you've just had referrals
up to this date and you're just looking
to get a few new customers in through
the door so the way that I would get
this set up is I would start with the
identify stage so any btb marketing
strategy should start at this place
doesn't matter if you're spending 1010
pound on marketing or a million pound
you should always start here so you want
to be very clear on exactly who you are
targeting so your ICP so your ideal
customer profile what offer you are
sending to those people and the
messaging around it so all we have
really here is a hypothesis right we're
not saying we know this is exactly who
we should targets the exact offer we
should have so the exact messaging and
pain points um that ICP has we're just
laying out a hypothesis of what we think
right and then we're going to take it to
the market and test it so the two ways
that I would do this and the two most
cost-effective ways to do this is number
one through Outreach so I would use some
cod email so this can be you know either
manually done at the start if you have
time or what I'd recommend is getting
some kind of cold email infrastructure
set up and use a tool like instantly or
smartly to send out some emails at a bit
more scale rather than you having to
spend you know half a day sending out
manual emails but I think this is a
really effective way of you know putting
your messaging in front of the right
people and seeing what response rate you
get and number two doing some manual
prospecting so through Linkedin again
reaching out to your network seeing if
people are interested in what you have
to offer and what I would do here is I
would promote a lead magnet so I would
not say um you know booking for a call
if this is interesting for you like the
response rate is going to be super low
if you do that doesn't really matter
kind of how good your offer is the
response rate is still could be low so
have a lead magnote which is you know
helping people get towards the solving
the pain points that your product or
service helps solve um you know give
that information to them for free see if
that's something that they're interested
in and then if they are then you can
offer to help them you know solve those
issues for them I would also create
content so I do you know Outreach as one
part of your day and then creating
content as the other again this is just
going to take your time it's free to
post on all of these platforms so I do
both written and video content on these
um so what I write about is you know the
frequently asked questions you're
getting from people why you're solving
that issue what are the you know
challenges around solving that issue who
you are you know just basically provide
as much context and education to the
market as possible on what you're
solving and just post across all these
different channels again promote your
lead magnet get people in once you got
people in then send them some email
marketing again get set up on something
like HubSpot um or like an air table or
something like that or brevo or like any
one of those like email platforms like
crms it doesn't need to be anything
complex at this point just somewhere to
store people and email them is what we
really need and maybe a pipeline then
send them through to a website again
just have a basic website all you really
need to do is just be clear on your
offer on your homepage have some case
studies of people you've worked with or
helped and about us so um you know what
is it about your company um give some
background on you and the company itself
how you know what you do work so again
doesn't have to be like a full- in like
this exactly each step but just give
some kind of like you know six to eight
steps of you know if someone signs up
with you what is the process and just
show that there is a process and also
your content so link back to your
LinkedIn YouTube Twitter blog on your
website and then you can just push
people to look in for a call have your
sales call give them the offer so what
is the cost of this well the cost of
this would be around 750 quid per month
so the main cost of this is we have a
look Outreach we're going to have some
like smart lead which around 90 quid per
month Apollo slack to manage some
notifications and then like the
infrastructure setup so that's around
like emails and domains Prospect we can
keep we just do this manually at the
moment so it doesn't cost us anything
just time uh written content I'd use
hype Fury just to cross post across you
know Twitter LinkedIn even Instagram
video you can use something like teller
to record and edit your videos which is
what I'm using at the moment your
website can just be on like a type dream
or card which around 10 quid per month
let's say calendar just have something
like tidy couch I think 20 P one off CRM
you can just use either like a Google
Sheets or something like HubSpot air
table or aadin um r as well because I've
heard good things and then in terms of
talent I'd probably just have a VA who
can just help you with you know once
you've actually created the content they
can help schedule it and post it they
can help keep an eye on some of the cold
emails and like respond to some of them
they can help do some prospecting if you
just have like a certain message they
can just go out and just send those
messages on your behalf um you know they
can keep an eye on the CRM and stuff so
that'll just take away some some of your
time again this is quite time intensive
for you as a founder or you know a
marketing leader within a small company
so I'd recommend just having a va8 to
take as much of those manual tasks off
your plate as possible while keeping
cost low so you see that's you know
super cheap really if you get like most
companies get one deal through every you
know couple of months you probably you
doing running that a positive Roi so now
let's have a look if you have a bit more
money to spend at what this could look
like so we're basically going to run the
same thing so we're going to have the
identify Outreach content lead magnet we
can have some more lead magnets here so
rather than just having just one lead
magnet we could have two or three which
are answering like the main objections
you're getting within your sales process
so you could look to create some more of
them but here the main difference is
that we're going to add in paid ads and
we're going to look at some different
offers that we can um give to the market
so here we just have one offer which is
like your court offer but here we're
either going to look at like a down sell
or an upsell depending on you know what
feedback you're getting like if if you
feel like you can can push people up
further the ladder and that's the kind
of route you want to take you can look
it that way or if you want to have some
kind of down sell where maybe producti
part of you're offering and then you can
sell it that way so here the difference
is that we're going to be a lot more
like strict in our setup and there going
to be a bit more process we will have
more team members so this is way that I
would in terms of like costs so the cold
email cost is basically the same
prospecting we can add in some like
drify just to automate that even more um
depending on what your you know VA is
doing CRM this is where I would actually
look at having something like HubSpot
set up so HubSpot is not cheap see it's
like to have marketing Hub Pro and sales
Hub Pro is going to be around a grand a
month you can get this on discount so um
you know take that number with a pinch
of salt but the benefit of this is
you're going to have everything in one
place rather than having to integrate
like 10 bits of software just have it
all in one place like honestly it will
make your life a lot easier if you you
know have this set up and if you have
the budget you know and your company's
growing then I would definitely look to
invest so your content can be done in
HubSpot um they have tools to repurpose
content as well video i s use something
like tell to record website move it over
to HubSpot calendar could be in HubSpot
and then this is where like the main
cost is going to come so you got to make
sure you have like a a proper marketing
High here to help support in the content
and maybe even the Outreach just
basically have a look across here and
what's taking the most time and just
seeing what you can Outsource then VA
you'd probably want a slightly better VA
you can just again take more of this off
your plate so you can focus on high
leverage tasks and then add spend so we
can to look at Google ads LinkedIn ads
so um yeah you want to be ranking for
the key keywords that people are
searching when looking for your product
or service and then LinkedIn I'd
probably start with some kind of
retargeting campaigns just to see the
effectiveness of it and then depending
on the results you're getting there have
a look at a cold audience it is quite
difficult to convert cold audience on
LinkedIn into customer you if you're
something like a high tick a B2B service
and this is why it's crucial to have
some kind of offer to take people from
Paid traffic convert them into a
customer maybe it could be like a oneof
product and then look to upsell to your
higher ticket offer once they're
actually you know within your ecosystem
don't expect some's going to come from
LinkedIn have a look at ad and then sign
up to a 10 grand a month service that's
on a you know 12- month retainer it's
just you not realistic so you need to
have something that Bridges the Gap
there so as you can see the cost does go
up exponentially and I think that's
something to Bear In Mind as a business
when you're increasing your marketing
spend it's not linear it's not like as
you grow as a business the cost just
kind of go up on a linear fashion it is
going to be exponential because you know
the more you do like the more ad spend
you you pump into the system you know
the more content you want to create more
outage you want to send those costs do
really start to scale but obviously you
got to kind of tow the line between make
sure that it's giving you the ROI that
you need as well um to continue kind of
feeding that machine so yeah hopefully
that's useful these are kind of the two
ways I would have this set up so just
have a look at your kind of current um
you know funnel and see where you're
like missing some of these things and
then I'll just kind of patch in these
these gaps yeah if you want a access to
the mirror let me know in the comments
below
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