This topic is especially dedicated to and of interest to companies: B2B Marketing.
We have already mentioned it in our previous articles on network marketing, but we would like to add something else,
In this article we are going to deepen the definition and the various uses of B2B Marketing,
Before we get started you might be interested in these recent articles:
- Operational marketing: What is it? How does it work?
- Strategic marketing: What is it? How to use it effectively?
- Analytics marketing: What is it? How does it work?
B2B marketing: What is it?
The term ‘B2B marketing‘ refers to a business-to-business environment:
The commercial space where companies exchange products, services or information with other companies.
There are three main situations in which B2B business transactions occur:
A company procures materials for its supply chain (a company producing clothes that buys the fabrics and materials to make the clothes).
The enterprise uses the services of another to facilitate its business (a software company that uses a tax consulting firm to file its tax return).
A company resells the goods and services it buys (an agency white-labelling a reconfigured online tool to sell it to a client).
Of course, B2B companies need to promote their products and services just as much as B2C companies. To do so, they need an effective B2B marketing plan.
Introduction to B2B Marketing from B2Bwhiteboard
Difference between B2B Marketing and B2C Marketing
Just like B2C marketing, B2B marketing encompasses all strategies by which companies promote their products or services to potential buyers.
The difference to the B2C variant is that, instead of focusing on individual consumers, B2B marketing only targets other companies.
This means that marketing principles and techniques have to be put into practice in a specific context,
B2B marketing mainly concerns suppliers of products and services whose customers are mainly companies.
A classic example is industrial goods such as cement or steel, while more recent examples include software and consultancy services.
However, B2B marketing also applies to companies whose target audience includes both consumers and other companies.
B2B marketing techniques are based on the same key principles as business-to-consumer marketing.
Unlike B2C customers, however, B2B customers tend not to make purchases spontaneously, emotionally or impulsively.
They have very specific needs and often make purchases on behalf of a large number of other entities.
In this case, B2B marketing techniques need to be applied with these important differences in mind.
Benefits of B2B
If you are still considering a target market, do not exclude business.
Overall, B2B transactions have a higher selling price on average than B2C goods.
This is not surprising when you consider that businesses usually have more capital to spend than the average consumer.
Can B2B brands also sell to consumers?
Yes, they can.
Just because your brand prioritises business doesn’t mean you can’t sell directly to customers.
For example, if you are a greengrocer, you could focus on selling products to local cafes and restaurants,
but that doesn’t mean you can’t sell fruit and vegetables to home cooks!
This same analogy can be applied to almost any niche.
Define your B2B marketing plan
The B2B marketing plan is in short the document that contains the Digital Strategy to follow in order to:
- increase awareness and interest in our products and services (demand generation)
- convert this interest into new leads and sales (b2b lead generation).
- turn occasional customers into customers loyal to our brand (retation)
Define your target audience or buyer persona
Both B2B and B2C companies agree that to succeed in today’s marketplace requires a customer-centric approach.
In the B2B market, unlike B2C, products and services are offered to customers with particular challenges and needs.
The better you are able to define the characteristics and needs of these customers, the more likely you are to reach them directly with the right message.
One strategy for defining your B2B target audience is to create a dossier for each ideal customer.
The document should contain socio-demographic information, behaviours, challenges and problems, criticism and objections they might have to your offer.
Map your customer journey
The next step is to map the purchase or customer journey by which visitors become customers.
The aim is to fulfil the expectations of the prospect as they take the steps towards a product or service.
A B2B Customer Journey is often much longer than a B2C one.
The B2B Customer Journey has specific stages and touchpoints that need to be understood in order to create successful products and services.
Each sector has different buying journeys and many B2B companies may have different sales funnels for each target company in different sectors.
It is therefore crucial to see how our sales funnel relates to the customer journey.
Identify the tactics and channels to use
Having identified our target audience it is now time to define, from an Inbound marketing perspective,
web marketing tactics and channels to reach visitors at different levels of the marketing funnel.
One practical way is to use Google Analytics and other Business Intelligence tools,
to find out where our current or potential customers are spending their time online,
which pages they visit, which social networks they prefer, which questions or queries they enter on search engines, etc.
Create assets and promote campaigns
Once you have defined your tactics and channels it is now time to create specific content to promote in each asset included in your digital strategy.
Assets refer to your website, social profiles etc…
Measure and improve
It is essential to define and use appropriate metrics and monitor campaigns with Google Analytics and other web analytics tools.
This, if necessary, allows us to make changes to achieve the defined goals.
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B2B marketing: What is it? How does it work?
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B2B marketing: What is it? How does it work?
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