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Introduction to B2B Marketing Strategies

Admin Dec 12th, 2019

Marketing’s job is never done. It’s about perpetual motion. We must continue to innovate every day.     — Beth Comstock

The rise of technology has changed the way we discover and consume information, and this turns out to be the main culprit for B2B marketing to be on a tougher side. Buyers are more likely to do a Google search to find and evaluate a firm than to check personal references.

For a B2B marketer, it is important to evolve the marketing strategy before getting knocked down by a competitor. It means that B2B marketers need to build impactful B2B marketing strategies that cut through the noise, generate real leads, and effectively address real customers, instead of relying on stale strategies.

Effective marketing is certainly difficult. The marketing strategy is about optimizing time and time again. Marketers need to have the capacity to adapt to constantly changing the audience. Even if the best strategy is hit upon the best possible outcome, there is no guarantee that the same strategy would remain as ‘Best’ in the next six months.

What is B2B marketing?

B2B marketing (Business-to-Business) is the promotion and selling of products & services by one business to other businesses or organizations. Often marketers think that it is a business, marketing to another business – they aren’t. People do business with people, not with companies. This is especially true in the B2B world. However, B2B marketers always target the natural community of people. Which means, retailers have a common interest, common problems, common customers that marketer can potentially identify and address. That is almost like winning the half battel while comparing to B2C marketers- who never quite know when consumers are in the mood to buy a product.

So, the Audience becomes the biggest determinant of effective marketing. Therefore, the focus of promotions, advertisements should always be on buyers persona, else all the efforts likely to fall on deaf ears.

Building a B2B Marketing Strategy:

The very first step is to set the targets that can be defined & refined. Not every single business can be the target, so it is particularly important to concentrate on the core audience.

Create an understanding:

Once the targets are recognized, now its time to know them better thus a tunnel is created connecting them to the marketer. So, a marketer must know the answers to the below questions to have a better understanding.

Who are the people? What age group? Which location?

What are their requirements? How does your business solve those?

Are they different from the companies your competitor’s target? How?

How can you reach them, both on- and offline?

Awareness:

In order to know the answers for the above, one must create Awareness- Blog, which is often neglected by most of the companies. In the process of buying, customers will have queries/doubts and they need a platform to talk over those. So, the blog can be a place for all the discussions. This will help the marketer to understand the audience better- problematic areas, challenges, expectations & requirements and thus create trust between marketer & customer.

Not just the audience but also knowing the competitors- strengths & weaknesses is equally important to be listed in the market.

Marketing is not a function; it is the whole business seen from the customer’s point of view  

Convert Lead generations to Customers:

In B2B marketing, always, the utmost priority should be Lead Generations- customers who are keen to know the product or learn more about the product. Not every lead becomes a customer. The journey of converting leads to customers to begin as strangers. Advertisements or promotional events help them to become company lead generations. So here comes the vital part of attracting them until they turn to customers.

Stay in touch:

Once the customers are attained, the goal isn’t over yet. Every customer would like to stay in touch with marketers. So being engaged with potential buyers is a priority. Find out the customer’s preferred way of contact may through social media or through skype to keep them updated about the upcoming events. However, make a point that the customer has the least amount of effort in the complete stay-in-touch process.

Review stage

One of the most critical, important, and often left behind tasks- to review each stage of the cycle. Often, in the beginning, everything seems to be successful, however, things turn bitter maybe after a while. Even the gigantic companies have B2B strategies altered and renewed over the period, thus monitoring the buying process to ensure they stay on top of the latest trends.

In conclusion, there are no strategies sworn to work, above mentioned are some of the areas to be kept in mind before diving into the ocean of B2B marketing. Buyers need to try out the best suitable ways to approach their customers and keep altering the methods according to the change in technology, competitors & demand.

Any strategy should have the capacity for scaling. Effective scaling will ensure that you can continue to increase revenues while meeting the needs of your target market.