In today’s ever-changing world of digital marketing, businesses need to think outside the box in their marketing strategies to continue to pull in high quality leads. Marketers are turning towards the digital honeypot strategy to connect with buyers and stand out from the competition. A digital honeypot refers to a unique way of attracting new customers, ideally the largest possible share of your target audience.
In a recent report, ON24 covers the benefits of digital honeypots and shares the results of a recent poll of B2B marketers. Keep reading to learn more about ON24’s FastFWD B2B Marketing Trends Report: Attracting New Audiences with Digital Honeypots.
Who Conducted the Survey?
ON24 is “a leading sales and marketing platform for digital engagement, delivering insights to drive revenue growth.” The platform includes “a portfolio of webinar, virtual event, and content experiences to drive engagement and generate first-party data, delivering revenue growth across the enterprise – from demand generation to customer success to partner enablement.” ON24 is used by a number of industry-leading organizations, including three out of the five largest global technology companies, three out of the six largest US banks, and three out of the five largest industry manufacturers.
ON24 was founded in 1998 by Sharat Sharan, who is also the current president and CEO. Prior to his current role, Sharan held executive positions at Hearst New Media and Technology, Hearst New Media Group, and AT&T Wireless Systems. ON24 is currently headquartered in San Francisco, California. The company also has a presence in EMEA and APAC.
The digital marketing landscape is becoming more crowded every day, causing B2B marketers to rethink their entire strategy. ON24 recently hosted a discussion with NetLine, a top B2B marketing platform to discuss how marketers can cut through the noise and attract new audiences. The discussion featured several marketing experts: Mike Genstil, Co-founder and CEO at VisualizeROI, and Jef Coyle, Co-founder andCPO at MarketMuse.
In FastFWD B2B Marketing Trends Report: Attracting New Audiences with Digital Honeypots you’ll find key elements of the discussion, along with the results of an ON24 poll of B2B professionals. The poll asked marketers questions around how their confidence in attracting new audiences and the challenges they’re currently facing. The report contains Insights into how digital honeypots are best used and here, we compiled three of the main takeaways as they relate to influencer marketing.
Three Key Takeaways
1. According to ON24’s poll, the majority (71%) of marketers feel they reach half or less than half of their total addressable market. Only 7% believe they’re reaching half to all of their total audience.
2. The majority of surveyed marketers (48%) feel that a lack of people or time is preventing them from developing a successful digital honeypot. Other challenges include lack of target market data (37%), a lack of ideas (37%) and that organizations lack urgency when it comes to creating new experiences (37%).
3. Most marketers (61%) found success with digital honeypots by utilizing interactive tools and experiences. Other effective approaches include changing go-to-market messaging (39%), targeting a new addressable market (25%) and using third-party search and buyer intent data (14%).
What Does This Mean for Influencer Marketing?
The first takeaway highlights the current frustrations marketers face in today’s saturated digital marketing landscape. ON24’s report discusses the missed opportunities of marketers who don’t implement a digital honeypot strategy and rely too heavily on outbound attraction tactics. The experts discuss how digital honeypots “act as magnets to help build up a portfolio of leads,
including those who have visited your website looking for a solution.” They also mention how marketers are more successful with inbound lead generation versus outbound.
For influencers, these findings signal the importance of having a solid funnel in place, especially if you’re promoting products and services from brand partnerships. A sales funnel is one of the most effective forms of inbound marketing, which functions to draw in your ideal audience and convert them into customers. ON24’s report highlights the importance of understanding your target audience’s needs and creating a honeypot strategy where you solve their problem. Without this understanding, your marketing efforts could fall flat.
The second takeaway addresses some of the major challenges faced by B2B marketers when it comes to developing an effective digital honeypot. Without the proper resources, attracting an ideal audience can be extremely difficult. The report includes suggestions from the expert discussion on how to overcome these challenges. The panelists also highlighted the importance of personalization, which is quickly becoming a hot buzzword in digital marketing.
Personalization refers to providing a customized experience for your audience so they feel your content is speaking directly to them. Popular personalization strategies for social media influencers include implementing targeted ads, polling your audience and using the feedback, and personalized direct messages. Although you may need to invest time, energy, and resources into a personalization strategy, the good news is that many techniques are low-cost and fairly simple to implement.
The third takeaway showcases some of the ways digital marketers attract new audiences. Many mentioned the effectiveness of interactive tools and experiences. The report mentions the importance of going beyond simple forms to collect audience information and making the experience more unique and engaging. Collecting data on a target audience and using it to create more personalized experiences enhances the effectiveness of a digital honeypot and marketers are spending more time diving into those details.
Additionally, influencers and social media marketers should pay close attention to their analytics. Doing so allows you to enhance your content and tailor it for your target audience. There are several free programs you can use to monitor your analytics and many of today’s top platforms come with built-in analytics tools.
In summary, ON24’s report demonstrates the importance of digital honeypot strategies and provides helpful suggestions for marketers. Influencers and social media marketers can also benefit from this strategy, use it to create more personalized experiences for their audience, and convert leads into customers.
Link to the Report
FastFWD B2B Marketing Trends Report: Attracting New Audiences with Digital Honeypots can be found on ON24’s website, along with additional insights and research reports on webinars, events, and digital marketing.