Sunday, 17 November 2019 18:35

Understanding Business to Business Marketing

Understanding Business to Business Marketing Understanding Business to Business Marketing

B2B marketing (short for: business to business) refers to specific marketing activities involving the relationship between two companies or organizations and especially industrial goods or capital goods; therefore, it is also called industrial marketing.

 

Business-to-business marketing (B2B) is different from business-to-consumer (B2C) marketing. Although he is still selling a product to one person, experience has shown that the difference between these two types of market is deep.
When you sell to a B2B company, you will find that businesses are working hard to simplify the buying process to save time and money. It often explains why B2B shopping is built on logic and that consumer buying is often based on emotions.
It is true that the cost of selling on the B2B market can be more expensive than the B2C market. The simplest way to do this is that a B2B transaction often requires more attention, more people, and more decision-making. B2B clients often need to justify the return on investment for their purchase.
In B2B marketing, you should focus on the logic and characteristics of the product. With little or no personal emotion, there is no buying decision, so you should focus on understanding your customers and how their organizations work with their procedures. What is their role? What is important to them?
B2B marketing is for people who use the product better than they are. Get deeper with marketing materials. The most effective messages focus on saving your product or service time, money, and resources. What return on investment can customers expect from their purchase?
For example, imagine your company selling productivity software. When you market your business, the key thing you need to show your prospective customers is that using the software will save your time. Because software users will be able to streamline their work using the software, employees will be able to do more at the same time. As this is likely to be a significant purchase for companies requiring multiple software licenses and expects appropriate training, it expects the sales process to include in-depth demonstrations and trial periods.


Process


Entrepreneurs, however, usually have to comply with rather lengthy processes, for example with respect to tender requests, written bid requests, management approval and others. Buyers at companies usually don't act spontaneously when buying, especially because they don't buy for their own needs. They generally deliberately choose the business partners they will choose first.


Client


B2B marketing is usually aimed at much smaller customers and personal contact is very important here. 


Product


Its products are different from B2C marketing too. While in "B2C," products that are generally simple and almost clearly marketed, products in B2B marketing usually require further explanation.
Therefore, advertising not only attracts the interests of decision makers, but also communicates the benefits and features of the product or service. In addition, business customers usually expect additional or related services, including installation, training and other after-sales services.


Action


In B2B marketing, online marketing is becoming increasingly important. The actions of B2B marketing are similar to those of B2C marketing, although in principle they take a different approach. Possible actions include:


Website


Website professionalism is very important in B2B marketing. All communication channels run through the website.


Email Marketing


Because the decision-making process is quite long in many companies, it is important to routinely remind them of one's business. Interestingly designed bulletins with added value can make this happen.


Social media channels


All company activities must be disseminated through the main social media channels. In addition, business owners must also look at the bigger picture and post information from the industry. Content retrieval is an important component of B2B marketing.


Content marketing


Entrepreneurs must be sure to spread real value and useful information. 
It is a common mistake for companies operating in the B2B sector to rely on strategies and techniques that are primarily operating in B2C and want to apply them in B2B. Either because they only know these or because they don't really understand the big orbital difference between these two. B2B marketing will not work if you use only some of the techniques. If you want to boost the marketing of your B2B business, you need a thorough and well thought out marketing plan and strategy.


Four Keys to B2B Marketing Success


It is necessary to understand why customers purchase products and services, and to respond to customer needs through marketing techniques.
There are four keys to success. 


The prospect has a need


The need is to clarify why the product or service is needed by the customer or if there is no potential need. If there is no need in the first place, customers will not consider purchasing products or services, so they cannot be tied to orders.


The timing is correct


Next is the timing. This means that even after the needs become clear, it will not be possible to receive orders if the environment for purchasing with a budget is secured.


Loyalty increases


The loyalty has been cultivated in the past, while the salesman goes to the customer frequently to improve the relationship. However, introducing BtoB marketing can increase loyalty more effectively.
In such a case, you can enter a business negotiation with a very high loyalty, and you will be able to proceed smoothly to receiving an order.


Holding down the key man


In BtoB marketing, there is another point “Hold Down”.
As already mentioned, BtoB has a lot of people involved in decision making up to the purchase, so it is necessary to identify the key man.
The key man is not necessarily one person. For example, the person who collects information is also a key person, and the person who promotes the introduction and the person who makes the final decision are also key persons. By holding down these keymen, you have to determine who and what information should be provided.

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