Written by David Morgan, Co-Founder/Vice President, Security Dealer Marketing, email@example.com
Much like 2020, 2021 saw continued challenges as a result of the COVID-19 pandemic. The ongoing implications for the security industry and the alarm monitoring industry specifically continue to be profound and will reverberate for years to come.
An extended time of social distancing has closed many channels the security industry uses to network and build customer relationships, such as trade shows and exhibitions. It has also changed consumer habits and mindsets in ways not likely to change even when social distancing restrictions are fully lifted.
However, that does not mean opportunity has in any way diminished. It means we must pivot and develop a new marketing strategy to capture the new and huge opportunities that exist by pivoting to digital marketing strategies. Of necessity, B2B customers have moved most of the research, decision-making, and buying process online. In fact, by the time a salesperson becomes involved, up to 90% of the selling process is already over! (Forrester). This makes digital marketing the most powerful and effective tool available to you today.
What is Digital Marketing?
Simply put, digital marketing is the promotion of your brand and service using electronic devices or the internet. This includes social media, digital ads, email marketing, video, and more. Digital marketing utilizes multiple channels and technologies that allow an organization to analyze campaigns, content, and strategy to understand what’s working and what isn’t – typically in real-time.
Why Does Digital Marketing Offer a Huge Advantage?
Digital marketing offers some incredible opportunities for monitoring organizations. First, your prospects are already there and are open to being pitched. According to International Data Corporation, 75% of B2B buyers and 84% of C-level executives use social media to make purchasing decisions. (Compare this to 90% of C-level executives that ignore cold calls.)
Another advantage is that it provides a wealth of analytics that help you know and understand your prospects so well that you can fine tune your message. The use of analytics also supports account-based marketing, or the use of a portion of your marketing budget to connect with decision-makers specifically and personally, much like you would at a trade show but without the time limitations or distractions.
Important Digital Marketing Tools to Leverage in 2021
- Email – For every $1 you spend you can expect $42 in return (DMA 2019). Open Rates- Other industries Average: 20%-30% Security Industry Average: 13.4%
SD Marketing Client Average Open Rate: 31.24%
- Social Media – 80% of all B2B leads originate on LinkedIn.
- Digital Ads – A Baylor University study reported that the success rate of cold call to appointments is only 0.3% (meaning it would take 1,600 calls to generate just 5 sales meetings.) However, according to a social selling study performed by LinkedIn, buyers that are active in social media are open to hearing from sales people and welcome input from industry experts– and the stats prove it:
LinkedIn InMail Ads
Average Open 30% Click Through Rate 2%
SD Marketing Average Open: 54.77 Click Through Rate 3.26%
While we may be entering a new year filled with some uncertainties, 2022 can prove to be your most decisive and transforming year to date. Connecting digitally with the entire industry is the best way to build trust and confidence in your brand while offering connection and a semblance of normalcy in this changing climate. By reinventing your approach, you place yourself at the head of the pack!