Digital Marketing as a Support Mechanism in B2B Markets: An Empirical Study from Developing Economies

Abstract

Digital marketing is gaining momentum in the B2B businesses of developing economies as a means of aiding the process of customer acquisition, building and retention. Customers are now making significant portions of the decision process by online search, supplier web sites and digital communication that changes the manner in which trust and supplier credibility is developed. Preference in digital interaction has been on the rise in recent years, and as such, B2B sales and marketing have become central to the digital channel. Nevertheless, a significant number of companies in emerging economies continue to find it difficult to determine the tools that drive the most value, and how to overcome the connection between online operations and actual business performance. The evidence-based empirical methodology is based on a structured review of literature related to digital marketing in B2B and a framework-based analysis performed in the context of the current study. The article suggests a research model that maps the digital marketing instruments to the outcomes of acquisition, relationship development, and retention taking into consideration the organizational and environmental limitations that are prevalent in the developing economies. Digital marketing contributes to B2B expansion in the following ways (i) visibility and demand capture (SEO, websites, and content), (ii) relationship acceleration (LinkedIn engagement, social selling, and webinars), and (iii) retention and expansion (email nurturing, CRM integration, and automation). The effectiveness of the tools is highly reliant on internal capabilities of digital proficiency and CRM adoption and marketing sales alignment and external constraints of limited connectivity, poor data quality, and market maturity. Managers ought to change the level of measurement which is solely surface-level digital metrics to spearhead quality, conversion performance, trust indicators and long-term account growth. The policymakers can enhance the competence of B2B by facilitating the development of digital infrastructure, training, and providing SMEs with access to low-cost marketing technology.