The Asia Pacific (APAC) region is on its way to become the economic powerhouse of the world. By 2040, it is poised to account for 42% of global GDP, driven by the growing importance of APAC consumers as drivers of demand. As a result, major B2B brands are flocking to the region in search of new markets and growth opportunities.

Asia’s diverse social and cultural norms make it a daunting task for marketers to craft effective communication campaigns. A one-size-fits-all approach is simply out of the question. What works in the west doesn’t necessarily translate easily to the east. This can be a costly mistake for businesses that fail to adapt their messaging to local cultures.

APAC is a region of immense opportunity for B2B brands, but it is also a complex and challenging market to navigate. The need for localization is becoming increasingly critical with not only resources (people and budget), but also awareness, ability, and a willingness to go beyond a glocalized approach.

This guide will help you understand the tactics you need to craft the best go-to-market plan for your business, drawing insights from B2B marketing experts.

B2B Market Size in Asia

Asia dominates the global B2B e-commerce market, accounting for a staggering 80% share. Led by China’s massive and ever-growing market, valued at 27.5 trillion yuan, B2B e-commerce is also thriving across the region, with small and medium-sized enterprises (SMEs) playing a vital role. In contrast, the United States, while still a significant player, is experiencing more moderate growth in B2B e-commerce, albeit across both wholesale and manufacturing sectors.

Asia is the undisputed leader in B2B e-commerce, generating more gross merchandise volume (GMV) than any other region, including North America. China is the driving force behind Asia’s dominance, with its B2B e-commerce market quadrupling in value between 2012 and 2020.

The Asia Pacific B2B e-commerce market is poised for explosive growth over the next decade, with a projected annual growth rate of 15.2% and a total addressable market cap of $253.49 trillion by 2030.

How Is B2B Sales Changing?

How has the B2B sales landscape transformed in the past 20 years? A lot has changed in the past two decades and here are some of the key changes that have impacted B2B selling:

Buyers Are Smarter & More Informed Than Ever

Buyers are now in control. They’re educating themselves online, and they’re only reaching out to sales people when they’re ready to buy.

As a result, buyers expect sellers to come prepared to sales conversations. They don’t want to waste time educating sellers about their business, industry, or themselves, when that information is readily available online.

Buyers Expect You to Be Their Trusted Advisor

Over the last 20 years, there has been a new information influx. Buyers can now easily learn about products and services online, and sellers can just as easily learn about the industries they sell into and their customers’ businesses.

It’s both a challenge and an opportunity. Salespeople who are successful in the new era will be the ones who can provide buyers with value beyond just information. They'll be the ones who can help buyers solve their problems and achieve their goals.

Virtual Sales: Easier Contact, Harder Connection

20 years ago, most sales calls took place face-to-face, giving salespeople the advantage of physical proximity. Today, that advantage has largely disappeared in many industries.

So, how can salespeople succeed in the age of virtual sales? The key is to focus on building relationships with buyers. This means taking the time to understand their needs, pain points, and goals. It also means being human and authentic in your interactions.

While the B2B sales landscape has changed dramatically in the past 20 years, the fundamentals of sales remain the same:

Relationships: People want to work with and buy from people they like, respect, and trust.
Integrity: Honesty and transparency are essential for building a lasting sales career.
Skill: Sales is a skill-based profession, and specific actions directly impact outcomes.

The Future of B2B: Top 5 Trends to Watch in 2023

The future of B2B is increasingly digital, data-driven, and customer-centric. In 2023, we can expect to see the following trends continue to shape the B2B landscape:

AI-Enhanced Customer Support and Content Generation

AI-powered content generation tools can now create high-quality reports, articles, and product listings at scale. This helps B2B businesses improve their content marketing efforts and provide their customers with valuable resources.

One of the key benefits of AI-generated content is its efficiency. AI tools can create content much faster than human writers, which allows businesses to maintain an active online presence, engage with their audience more frequently, and disseminate valuable information without delay. Nonetheless, a human touch is essential to add authenticity to your content.

Here are some of the key benefits of using AI-enhanced customer support and content generation:

Increased customer satisfaction: AI-powered customer support tools can provide customers with fast and efficient support, which can lead to increased customer satisfaction.
Reduced costs: AI-powered customer support and content generation tools can help businesses to reduce their customer support and content creation costs.
Improved efficiency: AI-powered tools can automate tasks that would otherwise be performed by human agents, which can free up employees to focus on more strategic work.
Increased scalability: AI-powered tools can help businesses to scale their customer support and content creation efforts more easily.

Overall, AI-enhanced customer support and content generation are powerful tools that can help B2B businesses to improve their customer engagement and content marketing efforts.

Chatbots: The Future of Customer Service

AI-powered virtual assistants and chatbots are now essential components of many B2B customer support strategies.

Chatbots are revolutionising the way businesses interact with their customers. These automated programs can handle multiple interactions at once, 24/7, and even collect data about customers and prospects.

This frees up human customer support agents to focus on more complex issues.

Here’s why chatbots are so powerful:

24/7 Customer Support: Chatbots are available to answer customer questions and provide support 24/7.
Multi-Tasking Customer Service: Chatbots can handle multiple interactions at once, so customers don't have to wait.
Scalable and Cost-Effective: They’re scalable. This makes them a cost-effective solution for businesses of all types.
Personalised Service: With AI power, they can provide more personalised and helpful service to customers.

B2B businesses are particularly well-positioned to benefit from chatbots. Chatbots can help B2B businesses generate leads, nurture prospects, and provide customer support. They can also help B2B businesses collect data about their customers and prospects, which can be used to improve marketing and sales efforts.

If your business doesn’t have a chatbot yet, you're missing out on a powerful opportunity to improve your customer service and grow your business.

B2B Influencer Marketing

Influencer marketing isn’t just for B2C businesses. B2B buyers are still consumers, and they’re increasingly turning to social media, peer reviews, and recommendations to research solutions to their business problems.

According to the 2018 B2B Buyers Survey Report, 65% of B2B buyers rely on review sites and peer recommendations, and 54% take to social media to research solutions and vendors.

So, how can you build trust with potential B2B customers? Influencer marketing is the perfect solution.

Influencers can provide your prospects with unbiased, authentic information about your products and services. They can also help you reach a wider audience and generate more leads.

Of course, B2B influencer marketing is more complex than simply having an influencer post a photo or video of your product on social media. But with the right strategy, it can be a very effective way to win new customers.

Here are a few tips to get started with B2B influencer marketing:

Identify the right influencers to partner with. Choose influencers who have a following in your target market and who create content that is relevant to your business.
Develop a clear campaign brief. Outline your goals and objectives for the campaign, and provide the influencer with all the information they need to create effective content.
Give the influencer creative freedom. Allow the influencer to create content in their own unique style. This will help to ensure that the content is authentic and engaging.
Build relationships with influencers. Take the time to get to know them and their content, and let them know why you think they would be a good fit for your campaign.

Personalisation is the Future of Business

B2B buyers demand personalization, and businesses need to deliver.

According to Salesforce, 65% of B2B buyers are willing to switch brands if they don't receive personalised communications from their vendors. This shows that personalization is no longer a nice-to-have, it's a must-have for B2B businesses in Asia.

With the right marketing automation platform, you can easily personalise your email messages and nurture your leads in a way that is relevant and engaging. For example, you can trigger emails based on website behaviour, purchase history, or even job title.

Personalised communication results in extremely high open rates and conversions. So if you're not already doing it, it's time to start personalising your marketing communications.

Here are a few tips for getting started:

Collect data on your customers and prospects. This includes things like website behaviour, purchase history, and demographics.
Use a marketing automation platform. Segment your audience and trigger personalised emails.
Tailor your content to each segment. For example, you could send different emails to new subscribers, existing customers, and leads who have shown interest in a specific product or service.
Don’t be afraid to experiment. Try different types of personalised content and see what works best for your audience.

By personalising your marketing communications, you can build stronger relationships with your customers and prospects, and ultimately increase sales.

The Power Of Interactive Video Marketing

Video is the most preferred content format for B2B marketers in Asia, with almost half of them using it to generate leads, increase brand awareness, and promote products and services. This is because video is immersive, interactive, and helps to humanise brands.

Video can also boost your search engine rankings, making it a powerful tool for B2B businesses in Asia.

One example of a B2B business that is using video marketing effectively is Zilingo, a Singapore-headquartered B2B marketplace for fashion retailers and wholesalers. Their YouTube channel features a variety of engaging, immersive, and inspirational videos that connect with audiences at a personal level.

For example, one of their videos gives viewers a sneak peek into how Zilingo can help them turn their dream of setting up an apparel business into reality. This type of content resonates with viewers and helps to build trust with the brand.

We expect to see a lot more focus on video marketing from B2B marketers in Asia in the coming years. If you're not already using video to market your business, now is the time to start.

Here are a few tips for getting started with video marketing:

Target Your Videos to Viewers’ Needs: Create videos that are relevant to your target audience and address their needs and pain points.
Create High-Quality Videos That Engage and Inspire: Focus on creating high-quality videos that are engaging and visually appealing.
Promote Your Videos on All Channels: Promote your videos on social media, your website, and in your email marketing campaigns.
Use Video Analytics to Measure Your Success: Use video analytics to track your results and see what’s working and what’s not.

By following these tips, you can use video marketing to reach your target audience, build trust with your brand, and generate more leads and sales.

The Future of B2B Marketing

The future of B2B advertising is bright, with these five key trends poised to revolutionise the industry in 2023. B2B sales professionals who embrace these trends will be well-positioned for success. The landscape is changing, and those who are willing to adapt and embrace the future will be well-positioned to thrive.

So, are you ready to embrace the future and take your marketing strategies to new heights? The future is here, and it's time to make the most of it.

At Comms8, we specialise in helping businesses leverage the power of B2B advertising in Asia to attract customers and investors worldwide through integrated marketing solutions. With our expertise, we can assist you in harnessing the latest B2B trends to boost your brand's credibility and awareness. Contact us today to learn more about empowering your brand in the dynamic Asian market.

B2B Advertising in Asia: Top 5 Trends That Will Shape 2023 and Beyond