There are two important rules in promoting in the B2B marketing niche: focus on expertise and the ability to adapt to the client’s business and don’t be scattered. It is better to work with two paying customers for a long time than to try to cover the entire market. And one more thing – do not try to move along the B2C model, this does not work here. Details are in the article.
What Is B2B Marketing
B2B, “business-to-business” is a business model in which goods and services are sold not to an individual consumer, but to the same companies. That is, one business sells to another business.
B2B marketing is a set of marketing activities in the B2B market.
Features Of B2B Marketing
Target
Build long-term cooperation with clients. There are a limited number of businesses in each niche and new clients don’t come along very often, so it’s important to build long-term business relationships.
Cases of B2B marketing:
1. Delivery of machine tools with numerical control, their installation and service.
The contract is designed for several years: first you need to install and debug the equipment, then carry out regular checks and promptly repair. In addition to the contract – the supply of spare parts and consumables. Such cooperation can last for years.
2. Legal and accounting business support. The contractor company (let’s call it the seller) takes care of all issues in this area, and the company-buyer of services can save on full-time specialists and focus on core business.
Important
Sometimes in B2B, you need to promote a product / service not only for another business, but also in the eyes of end consumers. Let’s say you’re a cosmetics manufacturer that doesn’t sell directly to customers, but supplies to stores. If consumers do not know about the brand and do not want to buy it, then stores will not interest in you either. In this case, the products must be promoted for two audiences, and be sure to associate this with the goals of marketing companies.
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The target audience
There are several categories of segmentation in B2B:
1. Business size: large, medium and small enterprises. Most often, the number of employees estimate their size. And work with companies and different segments may differ.
2. Business geography. Where is the company located and the regions/countries in which it operates.
3. Policy of work with partners. How the procurement process is structured, conditions and requirements.
4. DMP – decision makers.
In large and medium-sized businesses, the decision to cooperate is almost always made by a group of people. It can be long discussions and several stages of approvals: with the head of the department, the head of the department and the general director.
Everyone in this chain needs to find an approach:
- Justify to the purchasing director why it is worth buying from you, and not from competitors.
- Convince the production manager that your equipment will increase productivity by 30%.
- Prove to the head of the financial department that you can save up to 20% on operation and maintenance.
- Show the figures to the CEO that output will increase by 30%. At the same time, it will be possible to save on the salaries of full-time mechanics, because all service work will be performed by your company.
Here, marketing and sales work together: marketers conduct research and analyze customer needs, find the benefits and benefits of a product / service, and sellers make a profitable offer.
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Small business Plans and Decisions
In a small business, decisions are often made by 1-2 people: the owner and the hired director. Everything is much simpler here in terms of time costs – sometimes one phone call is enough.
But there are also disadvantages: the owner cannot be a pro in everything, and he does not always understand why your product is better than others on the market. Here it is especially important to establish contact and convey all the benefits of future cooperation.
Emphasis on expertise
Clients of B2B companies make rational decisions based on the benefits for companies. Therefore, in marketing, the emphasis is not on emotions, but on the expertise and reputation of a reliable business partner. The client must understand that it is your company that will solve his problems better than others.
B2B Marketing Examples
MAER
Corporate training for sales managers. Target audience: Sales managers and business owners. How marketing is structured:
- Instagram account with live broadcasts on the topic.
- Free webinars, holding and participation in marathons by MAER experts.
- A site with informational and educational thematic articles.
- Speeches by IAER experts at specialized conferences.
- Examples of successful cases.
- Regular newsletters with useful content.
This marketing mix attracts potential customers. And he shows with concrete figures and examples why it is worth choosing MAER. And also, how the training will take place and what benefits the business owner will receive.
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Wistia
Offers technologies for companies that need hosting for video content.
The main promotion channels are the website and Instagram account. In the video on Instagram, they talk about the company’s products, show its “internal”: the life of employees, the solution of everyday tasks. This creates more trust and shows the business from the “human” side. The blog is dedicated to the analysis of the company’s products.
Key Rules For Successful B2b Marketing
1. Segment your audience and focus on priority segments.
2. Prepare a strategic marketing plan that includes market research.
3. Hold meetings, negotiations, training events for business partners.
4. Analyze direct and indirect competitors. Direct competitors are those who meet the needs of customers in the same way as you. Indirect – those who offer your target audience similar products / services.
5. Use B2B internet marketing and track key marketing metrics. Namely:
- Conversion rate (CR) — conversion rate. What percentage of the total number of leads completed the target action.
- Cost Per Lead (CPL) — cost per lead. How much does it cost to acquire a new client?
- Return on Investment (ROI) is an indicator of return on investment. How much this or that strategy and investments in it pay off.
- Lifetime Value (LTV) – how much profit the client will bring to you during the cooperation.
6. Use content marketing. Blog articles, social media promotion. Be sure to use Yuta. In both content and B2B marketing strategies, follow the same rule as in your core business: give customers a specific, measurable benefit.
7. Engage in networking – make and maintain business and friendships with top managers of the businesses you plan to work with
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