Growth strategy for B2B - On a small budget (under £1,000 p/m)

Summary

This 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

00:00

📈 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.

05:01

🚀 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.

Keywords

💡B2B Revenue

B2B Revenue refers to the income generated from business-to-business transactions. In the context of the video, it is the primary financial metric the speaker aims to double by employing different marketing funnels. The script discusses strategies for increasing this revenue while maintaining high profit margins.

💡Marketing Funnel

A marketing funnel is a model that illustrates the journey of potential customers from initial awareness to the point of sale. The video breaks down two distinct funnels for different budget scenarios, showing how businesses can attract and convert customers effectively.

💡Low Budget

The term 'low budget' is used to describe a scenario where a business has limited resources for marketing. The script provides specific strategies for businesses with under 10 employees and those relying on referrals, emphasizing cost-effective methods to acquire new customers.

💡Identify Stage

The 'Identify Stage' is the initial phase of a B2B marketing strategy where the business clarifies who they are targeting, their Ideal Customer Profile (ICP), and the offer and messaging to be used. The script mentions this as a crucial starting point regardless of the marketing budget.

💡ICP (Ideal Customer Profile)

ICP stands for Ideal Customer Profile, which is a detailed description of a business's target customer. The video emphasizes the importance of being clear about the ICP to tailor marketing efforts effectively. It is used as a hypothesis that will be tested in the market.

💡Outreach

Outreach in the script refers to the proactive communication with potential customers, often through cold emailing or manual prospecting on platforms like LinkedIn. It is presented as a cost-effective way to test hypotheses about the ICP and market response.

💡Lead Magnet

A lead magnet is a valuable resource offered for free in exchange for contact information, with the goal of attracting and nurturing leads. The video suggests using a lead magnet to engage potential customers and gauge their interest before offering a more substantial product or service.

💡Content Creation

Content creation is the process of producing and distributing valuable and relevant content to attract a target audience. The script advises creating both written and video content to educate the market and promote the lead magnet, which is a time-intensive but cost-effective strategy.

💡CRM (Customer Relationship Management)

CRM refers to the technology used to manage a company's interaction with current and potential customers. The video mentions setting up a basic CRM system like HubSpot or Airtable to store contacts and automate email marketing, which is essential for managing leads and sales pipelines.

💡Paid Ads

Paid ads are a form of online advertising where the advertiser pays to display the ads. The script discusses incorporating paid ads into the marketing strategy for businesses with a higher budget, suggesting platforms like Google Ads and LinkedIn Ads to reach a broader audience.

💡Upsell and Downsell

Upsell and downsell are sales techniques used to increase the value of a customer's purchase. The video mentions considering these strategies based on feedback and sales process objections, suggesting that businesses could offer higher-value products (upsell) or more affordable options (downsell) to suit different customer needs.

💡ROI (Return on Investment)

ROI is a measure used to evaluate the efficiency of an investment. The script emphasizes the importance of ensuring that marketing strategies, especially those involving increased spending, provide a positive ROI, which is crucial for sustainable business growth.

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