If you’re an active member of the business world, then you’re probably already familiar with the term B2B marketing. If you’re not, then allow us to take you through the basics of it, since this type of marketing approach is being used more and more often in today’s businesses. The term B2B marketing stands for business to business marketing. Basically, it entails businesses selling to other businesses, either as product suppliers, or as someone who sells to wholesalers, who in turn sell to other retailers. Today’s guide is dedicated to finding out what exactly makes B2B marketing different and providing you with 3 ways to approach it.
Why Is B2B Marketing Different?
The first difference between traditional marketing strategies and B2B marketing is the fact that the latter involves much fewer customers. Think about it, when you sell your products directly to the public, this means that hundreds of millions of people can buy them. On the other hand, if you only sell to other businesses, you won’t have as many customers. Still, that doesn’t mean that you won’t profit as much. After all, it depends on the type of business you own and the businesses you’re targeting.
Another way in which B2B marketing is different is that it puts forth the concept of derivative demand. This means that even if you’re not selling directly to customers, you’re still dependent on customer demand for your products. Finally, unlike marketing strategies targeted to individual customers, the process of B2B marketing can be much more complicated and hard to follow, due to more extensive negotiations and custom-made products.
3 B2B Marketing Strategies
1. Use CRM Tools
One of the most effective B2B marketing strategies that you can try is using CRM tools. CRM tools can help you keep an eye on the businesses that buy from you and find out when exactly they buy and how. Keeping track of the buying habits of your customers is extremely important in this type of marketing strategy, because losing one customer could hit you much harder than it would if you were to use a B2C marketing strategy.
2. Engage in Native Advertising
If you don’t know what native advertising is, don’t worry, we’re here to clear that up for you. Native advertising allows you to place your ads next to social posts or journalistic pieces. That way, you’ll be able to make your ads stand out and capture the audience’s attention faster. This technique is similar to the sponsored posts you see on Instagram or Facebook.
3. Talk to Your Customers Via Smartphones
In the case of businesses that market their products to other businesses, it’s easier to keep track of the exact number of customers you have. Similarly, it’s also easier to personally interact with each of them, which is something you should definitely strive for. The interaction should be more personal, which is why targeting mobile phones is a great idea. Consequently, you should adapt every piece of content you have to fit mobile standards.
If you’re thinking of switching to this type of marketing, follow the B2B marketing examples above and get a great head start.
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