Top 3 Challenges in B2B Tech Companies (+ their solutions)

Angie oversees Cazoomi's operations. She enjoys traveling, loves dogs, is a 1% Pledge supporter, and a start-up entrepreneur with investments in several APAC startups. 4 minute read

Top 3 Challenges in B2B Tech Companies (+ their solutions)

Business can get extremely challenging at times, especially for those in tech, start-ups and established enterprises alike. Extreme competition is one of the biggest challenges that B2B tech organizations have to deal with.

While seeking to determine the intensity of competition in the B2B Tech industry, Ovum, a research firm, requested marketers in high-tech firms to rate the level of competition on a scale of one to ten. Sixty percent of the respondents answered eight or upwards.

Besides stiff competition, B2B tech organizations deal with a myriad of other challenges.

How a business handles and overcomes such difficulties makes all the difference as far as survival and growth are concerned. A tragedy is highly probable when a firm isn’t aware of the potential problems.

The worst case is when your company is caught off guard and doesn’t have a clue of how to get out of the deep ditch.

Do not stay in the dark anymore!

Here are the top 3 challenges that B2B Tech firm’s experience and their solutions.

1. Finding the best marketing tools

Finding the best marketing tools

To increase your chances of success, you must attract potential customers, and do everything possible to keep them interested until the purchase takes place.

The only way to accomplish this is to identify the right marketing angle for your products.

For instance, B2B tech companies have failed to give content marketing deserved attention. On the other hand, the firms in this industry that have embraced it are making huge strides. Consider leveraging the power of blogs and social media to market your products the best way possible.

Focus on creating solution-oriented content. Send out powerful messages that indicate your expertise in the niche you operate.

Another strategy that can help you gain mileage is influencer marketing. Start by identifying popular and loved influencers.

Make use of their social media following to let your customers know about your products and how they can change their lives for the better.

2. Difficulties establishing and maintaining excellent client relationships

Difficulties establishing and maintaining excellent client relationships

A sizeable number of B2B tech companies find it challenging to develop and maintain good relationships with their clients. As such, they are always in search of more clients, and this means an increased marketing budget.

The beauty of being able to retain several clients is that you don’t have to keep marketing your products or services.

Once you can create long term relationships with clients, just a handful of them is enough to give your business the level of success you’ve always admired. Implementing effective management software can streamline your client interactions and enhance the overall efficiency of relationship building.

How can a B2B achieve this? Firstly, business clients need to know that they can trust you. To earn their trust, make sure that you deliver what you promise.

Aim for personal relationships with your clients. Respond to their queries and concerns in a good time. To provide value for money, pursue quality improvements at all times. In addition, you can launch B2B ecommerce platform that will jhelp you streamline transactions and enhance customer experience.

3. Inability to keep up with the ever-changing technology

Inability to keep up with the ever-changing technology

While this challenge cuts across all industries, it is more prevalent in tech firms operating in the B2B space. The situation is even worse in tech start-ups. Rapid changes in technology can throw start-ups and small B2B tech firms off balance.

Tech start-ups and SMEs have always had to deal with the pressure of moving quickly to beat the competition in one way or the other. If you are in this category, you need to understand that being the first to do something doesn’t always make you a winner.

The very first thing you need to do is to make sure that your technology is up to date.

A good example is the use of artificial intelligence to improve marketing campaigns. From artificial intelligence, the latest technology revolves around marketing automation tools. It is not hard to tell that innovation is moving at impossibly fast speed.

Marketers are finding it difficult to catch up with the new technology. Before you master how to use a tool, a new one lands the market. Learning how to determine the best technology for your business in terms of budget and overall requirements is crucial.  

Can you name other significant challenges B2B tech companies face every day? Let us know in the comment section below.