Everything You Should Know to Grow & Scale your B2B Business
“If you wanna ruin something, give it to marketers”
Marketers have a way to get things done even if they ruin other things!
This iconic quote is quite on point.
Marketing is the way to reach your prospects and generate leads and drive your sales. And when it comes to marketing then broadly there are two categories-
B2B Marketing– stands for Business to Business, where one Business sells its products and services directly to other Business organizations.
B2C Marketing– stands for Business to Consumer, where the business directly sells its products and services to its respective customers.
In this, we will talk about B2B Marketing, which is the concern of many small businesses. The strategy channels are generally slightly different in the B2B segment.
The very purpose of B2B Marketing is marketing your products to businesses for them to use it further for their business, such as in the production process of goods or general business use.
Also, in the case of B2B marketing, the sales cycle is usually longer due to a longer decision making process. A lot of factors come into play in the decision-making phase such as price, delivery details, etc.
When it comes to B2B marketing, the strategy used to reach your target audience and to generate leads that will drive your sales is much different compared to B2C Marketing, where you directly sell your products/services to your customers.
Let’s have a deep look at how these B2B marketing channels work……
B2B Marketing Channels that work for your business:
Throughout the years there has been improvement in the number of various B2B channels. To attract the customers and engage with them, B2B businesses use a number of channels to maximize their conversion rate.
Different businesses will adopt different channels to reach out to their customers in the most effective way.
Some of the standard channels to B2B Marketing are:
1. Content Marketing
2. Email Marketing
3. Paid Search
5. Social Media
One of the major channels from the above is Content Marketing. When it comes to Content Marketing, there are some of the essential strategies that your business needs to follow in coming up with effective lead generation policies.
After you set your goal, only then will you be able to make a plan. Further, you need to decide on your target audience as you cannot provide anything and everything to them.
You need to segment them on the basis of some factors such as demographics, gender, and geographic location.
Further, you need to reach out to them through an appropriate channel and then only your content and make an effect on your prospects.
Also, one of the essential things to keep in mind about B2B Marketing is that you need to follow up on your prospects only then they will tend to remember you.
After they have gone through your content, you have to guide them to the next stages and help them remove any kind of dilemma they might have and direct them to the buying decision.
Now, coming to the most important thing about B2B Marketing is the website.
The moment you are into B2B Business, you are expected to have a website, as that’s the first thing that will introduce your business to your customers.
It is the point of contact where they get all the details.
When it comes to your website, you need to maintain absolute clarity about the contents and information that you put on your site.
And, never forget that Optimization is the tool to keep your website up-to-date.
Your website needs to be optimised from time to time to provide your customers according to their needs and according to the marketing trends.
Now you’ve understood the B2B channels
Let’s move on to how you can develop a B2B Marketing strategy……
B2B Marketing Strategy that will generate high leads
When it comes to developing a B2B marketing strategy, the channels are taken into consideration as the strategies are different for different platforms.
Some of the effective B2B marketing strategies are as follows:
- A High-Performance Website
- Effective Research
In today’s Digital Platform, it’s essential to engage your audience with valuable inputs with the help of relevant content on your website.
Research is the preliminary thing that you will do to find out data and transform them into relevant information.
They require research to know who their customers are and also why they would buy your product/service.
Further, you need research to test a few factors related to your product, such as demand and the competitive advantage over others.
So, anytime you think to formulate a strategy or implement a business plan, do research to help you guide along the right direction.
After all, this comes with the Execution part. After developing methods for generating demand and leads, your business is ready to execute the plan.
When it comes to executing your plan, it’s really a very sensitive thing as one small wrong move can take your business upside down. So, perfect execution is what completes your target.
To give you a better understanding, here are some examples…
How B2B Marketing does its magic:
In B2B marketing your business needs to be innovative with ideas and then only it will be able to attract customers.
It’s not helpful to copy ideas of marketing campaigns but definitely there are some very important lessons to learn.
Some of the important B2B marketing lessons that you can take from the examples are:
1. Tell your customers what they want to know. Provide them with valuable and relevant information that can create value for them.
2. Show them how you do it.
3. The lasting First Impression as this actually will help your customers to remember you.
You’ve understood how B2B marketing works.
Now let’s have a look at some famous B2B marketing companies.
What are the top B2B Marketing Companies and how they succeed :
Companies all around the globe have been developing strong strategies to engage and attract their prospects.
Some of the major companies who have developed and have been able to implement better B2B marketing strategies are:
Your business needs to overcome the crowd to become a unique business identity in the minds of your customers.
The strategies that evolved LinkedIn through the years is B2B marketing.
They followed the sales funnel and moved accordingly and attracted their prospects and converted them to their businesses’ potential customers.
One of the famous companies Dun & Bradstreet has shown effectiveness and success in the B2B Marketing field.
From content marketing to generation of demand, they are absolutely efficient in transforming data into creative and engaging content.
One of its most impressive projects was a new thought-leadership blog targeting marketing executives.
IBM – “Go big or Go home” is more than a tagline for them. IBM, too, has launched some of the most inspiring content marketing this year, mostly around lofty technology and concepts.
The lessons from these companies will teach you how they have used effective B2B marketing strategies to get them success.
Check out our similar blog on the topic “Strategies Used By Top Growing Companies For Customer Acquisition!”
We also need to understand why B2B marketing is important….
Why B2B Marketing is significantly important for growing & scaling businesses:
Millions of businesses scramble the economy every day, hoping to penetrate the market.
Some of the benefits that your business can extract from B2B marketing are:
- Larger Customer Reach- This does not limit your reach with a small region; instead, you can reach out to a number of businesses, and you can widen your customer base.
- · Faster Growth
- · Services and Products Costs gets reduced
- · Inexpensive Marketing Strategies
- · Innovation Centric
B2B Marketing has always proved to be an essential way of marketing when your business needs a greater customer reach and also wants to enhance its growing speed.
With the ever-increasing digital presence, it’s a lot to strategize when it comes to online, and it has its benefits.
And one of the benefits is Brand Awareness, and some of the key takeaways to create awareness about your brand are:
1. Creating awareness about your brand through various marketing channels- People will tend to purchase only if they are familiar with your brand, and you prove them to be reliable.
2. Creating a sense of Urgency- Buy giving short term discounts and with limited time will develop a situation of hurry among your customers and they would start to buy from you.
3. Have an emotional connection with your audience- If you try to capture the right kind and appropriate emotions, there are high chances for the success of your marketing campaign.
B2B Marketing tools that boost your business:
When It comes to marketing on the digital platform, you need the latest technologies and tools to help you out in those situations.
These tools are the platforms that help you with the varied forms of marketing online.
Some of the Marketing tools that will help you in the marketing process of your business are:
1. Marketing Automation (Pardot)- It will help your sales team with all the interactions and information of your prospects.
2. Social Sharing (Circulate.it)- When it comes to social media strategy in B2B marketing, having active company profiles is the first thing you will require.
3. Video Hosting (Wistia)- Your Business would be using video at all different stages in the marketing funnel, and it outperforms all other platforms when it comes to engaging with your customers.
B2B Marketing Services you can avail:
B2B marketing services generally focus on specific areas like SEO, content marketing, and account-based marketing.
SEO- It is usually a process that helps your business to increase the quality of your contents and give it value over other contents and provide your website or a webpage with better search visibility to users of the web search engine.
Its marketing is oriented strategically, where it focuses on creating and distributing valuable, relevant and consistent contents that would attract your targeted customers and retain a clearly defined audience, finally transforming them into your potential customers which completes the buying process.
Account Based Marketing-
It is a business to business marketing strategy that concentrates resources on several target accounts within the market.
Now, you know the landscape of B2B Marketing, and you know some of the essential points that you need to take into consideration for doing B2B marketing that will help your business to generate effective leads and convert them to your most potential clients.!