No matter how large your B2B company is or how far away from your headquarters your main clients are, it is important that you market your brand locally. Local marketing targets the community surrounding your physical location and helps those who live and work in the area know that you exist. It gives the opportunity for your employees, who are probably local, and the community at large to identify with your brand and feel proud to have you in their neighborhood. In terms of income, participating in local marketing increases the reputation of your business bringing with it revenue potential.
Here are the main reasons why every B2B company needs to market locally.
Local Marketing is Cost Effective
When you begin by marketing your business locally, your message has a greater impact right from the start. Because it reaches a more compact audience initially, you can measure its effect on a small scale. This gives the opportunity to tweak your content before broadcasting it to a larger audience. Depending on the type of package you choose, the investment for local advertising would probably not be as great as a statewide or national marketing plan. In a smaller market, you not only save money but you also get to test your strategy and make adjustments before investing in a more costly buy.
Email marketing should not be overlooked as a part of your local advertising campaign. An email marketing strategy is effective both in terms of cost and the ability to reach people. The ROI on email marketing falls somewhere in the ballpark of 3,800% ($38 gain for every $1 spent). That's not a bad investment. Because most people check their email boxes at least once a day and some groups, like millennials, prefer to get their advertising communication via email, your message retains a high likelihood of engagement.
One important thing to note is that when you work with a media partner to develop an email marketing campaign, you get access to their email list. This added benefit helps you reach a much wider audience of local customers than you could if you depended on your own email gathering efforts alone.
It Makes Your Community a Better Place
When you get involved in local marketing, you are committing to making the community a better place. Cause marketing campaigns pair local businesses with non-profit organizations to reach goals that are important to both parties. The non-profit gets assistance in reaching its benchmarks and your business is seen as one that is interested in giving back. The community sees a brand whose concerns are similar to their own in wanting to make a difference. When it comes time for doing business, your efforts will be remembered.
B2B companies that participate in cause marketing ultimately enjoy greater profits as 86% of consumers say that they are more likely to purchase from purpose-driven companies that share their values. Talk to your media partner about local cause marketing initiatives that will help your brand shine in the community.
Marketing Locally Helps You Capture Your Market Share
Connecting with consumers can be difficult. Your local marketing strategy can help you stand out from the competition and capture your share of the market. Local television stations are still very popular and useful, and investing in TV advertising is a great way to highlight your existence.
When you put your brand alongside programming that local people watch and care about, you are establishing your brand as a community-centric entity. As potential customers become aware of your presence in the midst of programming that appeals to them, your brand is seen as one that understands who they are.
Market Your Business Locally With a Media Partner
Even if your business is primarily B2B, marketing locally is beneficial to the image of your brand. Local marketing opportunities that involve collaboration with other local businesses to support a cause connects you to the community and fosters loyalty from customers. Advertising locally is one of the more cost-effective ways to get your story out and it has a high return on investment.
Your media partner can assist you in developing a local marketing strategy that will help get you recognized as a leader in your community and a good company to do business with. Ask about opportunities to make a difference with sponsorship of local programming and participation in cause marketing campaigns that aim to bring the community together.