07 Jan What is B2B Marketing?
Business to Business (B2B) is a name given to sales and marketing efforts that develop between companies.
Every firm needs to have a well-designed marketing strategy for its development. Of course, at this point, it is extremely important that the strategy of the company conveys the message of the company to its potential customer in a clear and consistent manner.
The purchasing process takes place in B2B in a more formal and professional atmosphere. Since professionalism is at the forefront in the language that should be used in B2B marketing, using a language that shows your command of the subject will enable you to convey your expertise in your business to the other party and influence them. That is, you are expected to inform your target audience and create value.
Your tactics in B2B marketing, which are the basic building blocks of your strategy; It can vary depending on the sector, region and time zone you are in. However, it is not right to expect immediate results or returns when you set your strategy. You will reach your target audience with the right strategy and receive positive feedback for your company in time.
How to create a B2B Marketing strategy?
B2B marketing strategies should also be the type to affect people who make purchasing decisions. In order to create a strategy that will bring positive results with it, a careful planning should be made and the implementation and management parts of the planning should be managed correctly.
The methods used by a B2B company to stand out from its competitors should be as follows:
- It should create a framework for how to achieve scalable business goals with B2B marketing strategies.
- Products or services of B2B companies solve a specific problem and need. For this reason, companies should be able to clearly define their target audience to offer their products / services. It can reach the target audience with the right channels by clearly defining it.
- After determining the target audience, it is necessary to determine how and from where to reach them.
- The information obtained while analyzing the target audience will guide the next step.
- The focus should be on the benefit of the product that meets the needs of the target audience. Messages focused on the strengths of the product should be created with a creative approach.
- An evaluation should be made after the strategy is presented to the target audience. What were the tactics that received high-performance returns or did not give the expected effect? Determining the negative and positive aspects of the strategy will increase the possibility of realizing the targets and continuous growth.
According to Richard Ettenson, Eduardo Conrado and Jonathan Knowles, 4P (product, price, place, promotion) Marketing needs to be reconsidered in terms of B2B. They observed that the 4P model should be adapted to B2B companies at the end of a 5-year study involving more than 500 executives and consumers in many countries. They think that B2B companies can use SAVE, the marketing mix adapted to B2B businesses.
B2B companies do not only sell products / services to their customers. Actually, they produce solutions to their customers’ problems. Every company that will bring the product to its target audience should approach with this perspective.
Develop an integrated cross-channel that takes into account your customers’ entire purchasing journey. So, instead of attending trade shows to sell a product, it is important to position your product correctly on the internet.
Create value by focusing on the benefit your customer will get rather than compare the cost and price of the product with your competitors.
It will be one of the most important elements of the relationship you have with your customer to tell your customer about the innovations, functioning and how to do things better. As a result, you need to provide a value proposition to your target audience about what the solution you create with your product and why they need it. You need to quickly gain market share with your solution. You need to quickly gain market share with your solution.