n the present competitive business environment, more companies are realizing the benefits of marketing services and products to other businesses. Although the basics are the same in business-to-consumer (B2C) marketing and business-to-business (B2B) marketing, the techniques used to make sales happen are more complex in B2B marketing. Here are three of the best B2B marketing ideas to generate sales:
Marketing to the ‘real decision maker’
Unlike in consumer marketing where individuals are targeted, in B2B marketing, the target audience could be a large number of people who make up the decision-making chain. It is important to first identify who the “real decision maker” is. For example, in a company, the chief financial officer may make purchase decisions. Or maybe the decision maker is the human resources manager, or the secretary to the CEO or the purchasing officer.
Also, purchase decisions in an organization usually affects multiple departments of the organization like IT, Finance or Administration. So, it is important to understand the expectations of each of these departments and tailor the marketing message of your product or service to match the departments’ expectations in order to generate sales.
Preparing a list of FAQs and answers
Pricing is one of the major factors that influence B2B deals. Here are some of the frequently asked questions related to pricing and value addition in B2B sales.
a) How is the product or service you offer better than those of competitors?
b) What unique value does your product provide to our company?
c) Does your product or service meet our specific needs?
d) How are your products priced compared with those of competitors?
While devising a B2B marketing strategy, you must provide answers to these questions. The staff responsible for marketing the product or service must be aware and prepared to answer these questions.
In the current digital age, B2B marketers can’t afford to ignore the Internet. The first source of information that most companies rely on today is a search engine. Internet marketing must be an integral part of B2B marketing. Search engine optimization efforts – whereby the goal is to help boost the company’s rank in search engine results – will instantly put the company on the global marketplace.
In today’s competitive market, the success or failure of B2B marketing depends on how well a company understands its B2B decision makers, the decision influences, the specific needs of its prospective clients, and on its online presence.