Business to Business Marketing Basics

Many companies contract a business to business marketing agency to carry out various tactics in increasing popularity within the B2B market. B2B marketing is a process of promoting goods or services to other businesses or companies. This form of marketing is multifaceted, involving different strategies and making use of different channels.

B2B marketing is important for companies that produce products or offer services that other businesses may use. For example, a chemical manufacturer may supply raw materials to cosmetics and pharmaceutical firms. The chemical manufacturer needs to convince as many cosmetics and pharmaceutical firms to buy chemicals from them. The chemical manufacturer employs business to business marketing in this case.

Businesses commonly need to do B2B marketing at some point. Growing companies may provide goods and services not only for regular consumers but for other businesses as well. Being able to convince other business owners to buy your products is not an easy task. There are other businesses like yours that are also marketing their products. You should resort to creative tactics to convince other companies that you can provide what they need.

Here are some things to consider:

Doing Market Research

You cannot employ B2B marketing without learning current market conditions and knowing what your competitors are doing. Know the possible companies that would be buying from you. These pieces of information are important once you implement your marketing schemes.

Knowing Your Company’s Advantage

What is in your products that another company’s products do not possess? Is it the price? Is it the quality? Whatever it is, use it to propel your marketing campaign.

Understanding the Needs of Prospects

Keep in mind that prospects do not really mind much information about you. They are generally about what you can offer them. If you have something that answers their needs, you can become a highly regarded supplier.

Being Honest

When making campaigns, be truthful about your products or services. Make sure that you can deliver what you promise. It is easy to discover whether you are telling the truth. Once other companies have tried your products and they are disappointed, they will not buy from you anymore. Worse, they may tell the world about your poor merchandise. Today, dissatisfaction can easily be expressed on forum sites and social media. The next thing you know, everyone knows that you failed company x.

Exploiting Various Marketing Channels

Today, there are different ways to conduct business to business marketing as well as other forms of marketing. However, majority of businesses now use internet media. Today’s B2B marketing best practice strategies involve use of SEO, email marketing, and social media marketing. Online visibility is important for businesses now. It is hard to convince other businesses to buy your products if they cannot find information about you online.

Technology and Business Marketing Today!

Gone are the days when marketing was limited to a few grandiose ideas thrown together by the top management after which pushed to junior marketers to execute on sheer grit and long hours of extensive work done without the help of technology.

Cut into the current day and age and you can see technology making a formidable inroad into marketing and changing the way marketers think. Technology has also increased the number of media touch points with the customers. Here are a few glances of how technology has changed marketing.

More juice from online marketing

With the advent of information superhighway, marketers get access to a considerable amount of resources considering they also have to cope with servicing customers on this platform as well. Public relations have gone online and twitter is the new CNN and Facebook is the new search engine. With such sweeping changes in user behavior, marketers can only make it easy for themselves by harnessing all these technological changes rather than shunning it.

Creative is as creative does

Consumers are more exposed to technologically modified creative solutions combined with the increasing advancement made in design technology. 3D is no longer a subject of fantasy flicks or a difficult practice but becoming major part of main stream design. As a result, simplistic graphics and overall design might backfire unless you have a specific strategy behind it. The positive point of recent enhancements in design culture is that it has changed the way in which creative folks ideate…the tough part is that advancements in virtual reality environments such as Second Life makes business marketing a bit more complicated than it is.

Change in the lingo

Technical advancements of recent years have had a direct impact on marketing lingo as well. Online marketing has added terms like Performance Marketing, Pay Per Click (PPC), Cost Per Thousand (CPM), Click Through Rate (CTR), DSP, SSP, SEO and so on which forces the traditional marketers to catch up or be left out. These new areas have also brought in a significant change in how business marketers are perceived by clients and colleagues.

The change in the marketing mix is slow but important

Marketing plans now include online channels almost by default. Few and far between plans are likely to have no mention of the online marketing and social media. In fact business marketing on social media and digital marketing are now being handled by specialized digital agencies that might be catering to specific niches for example digital marketing for consumer good, digital marketing for food & beverage and so on. With the current rate of technological advancements, one might predict that in the near future, most of the marketing budgets will be focus on online activities than any other channels of media.

Availability

Availability of more user data has been made possible with the rise of technology implementation for business marketing. Years ago, most of the marketing intelligence was based on guess work and experience of marketing directors or following strategies of larger companies that spend some of their budget on basic methods of market intelligence gathering. With the advancements of online analytics and many other methods of online user behavior monitoring, today marketers can actually provide accurate user data that help influence business marketing decisions and allocate precise budget for each channel they use.

Technology for business marketing thrives on innovation

In the past, marketing was an activity used only by larger companies that were able to provide the budget for such activities. Today, smaller businesses have been able to crack the marketing code with innovative technology and that is what makes use of technology an essential factor in all marketing activities for small businesses. As a result of technological integration, we see smaller start up companies are achieving sales goal of unrealistic dollar amounts that they had never dreamed of.