Business to business or B2B marketing is a model that includes two businesses exchanging products or services. The marketing involved in the B2B business consists of best practices and techniques that are used by the companies to sell their product or service to other businesses.
It is basically the task of developing and managing the relationships with customers for both the customer’s and supplier’s benefit. Relationship management is the crucial part of business to business marketing and it requires a lot of attention for gaining and retaining customers if you want a long term as well as sustainable growth. This is the reason why your marketing requires you to have a strong skill for building relationships.
For designing any B2B marketing strategy your main intention should be to generate high quality leads which is not as easy as it sounds. The challenge in this task is again elevated for the marketers out there since they have unattractive products, less resource availability and almost no influencer to pitch for them. Therefore you need to have a characterized strategy that can enhance the effectiveness of your business to business marketing efforts.
Let us take a look at some of the most reliable B2B marketing growth strategies.
Increase Product Reliability by Building Trust
The buyers of B2B products have a million of ads and plethora of marketing gimmicks stacked in their inboxes. It is, therefore necessary for you as a marketer to make a new path through all the noise and gain the trust of these buyers. The authentic opinion of your customers in the form of customer testimonials that can bring in some of the transparency. You can use these testimonials in the form of blog posts, SlideShare, videos or any other marketing material. As per a study, as much as 53% B2B buyers depend heavily on the suggestions they receive from their peers before they settle on making the decisions of purchasing.
Identify your Target Audience
One of the most essential step that you should take for understanding and acquiring your target audiences is to stalk them online. In business to business marketing, it is crucial to determine the reaction of your target audiences to specific items, events and circumstances. Gauging these reactions and working on them is going to affect your business growth. When you connect with your audience you can begin to understand their needs, wants, and opinions. This also gives you a rough idea of who are your actual target audiences.
Provide Great Content
Having a dry content, regardless of the theme, is no excuse. You will not be able to convert a lead if you do not get them excited about your product or services, especially when they are reading your content. You can throw in stories or personalities in your content to build a voice that a person, reading your content, understands that you too are as human as him. Bring in some creativity in your content and shrug the ‘boring’ label that is usually tagged with almost every B2B marketing content. To achieve this, you need to start thinking out of the box and predict what your target audiences would like to read. Hatch new plans, ideas and storylines to sell your product.
Undertake Referral Marketing
When a buyer refers your product to his peers, they are basically transferring the trust that they have for you to their friends. This strategy works because many people trust the solutions that are already tried and trusted instead of relying on some random name that popped up on Google. Moreover, these referrals usually have high conversion rates. Now, you should reward the fans of your products who do the positive word of mouth marketing for you. You don’t have anything to lose when you offer them an exciting offer or an additional incentive when they are on a reference spree.
Be Active on Social Media
The customers of B2B use different channels for researching like LinkedIn, websites, white papers, Twitter, etc., for making their purchase decisions. It is clear that the impact that social media has in business to business marketing is growing and it is important for you to build brand awareness and your image stronger. Social media is commonly used as a source for information and as much a 60% of buyers look up for new product or service providers on one or all social media channels to decide on a particular product. Also, if you are a pro in link building it can be more beneficial for your business than social media itself.
Invest in Paid Advertising
If you are investing in social media advertising, make it a paid one since it is another way a B2B company can build awareness about their company. A usual B2B promotional advertisement campaign can have a budget of a smaller number since the target audience for B2B promotions will be in a small number whereas the revenue that you will be generating out of this will be huge. LinkedIn stands out as the top social media channel for paid promotion for your B2B business. You have more than 380 million business professionals and the LinkedIn Ad Network provides with all the information that you will need to reach these people.
Ask for Regular Feedback
Ask your sales team to provide you with a feedback regularly. As a B2B marketer, you will frequently need to talk to your sales team and understand what they observe about the leads and the opportunities that you can create out of it. After all, a successful business to business marketing showcases your knowledge about sales. You must regularly converse with your sales team to know the real results so that you can redesign your marketing strategies if the need arises. This process will help you establish a relationship with the sales team and you can align sales and marketing.
Business to business marketing is all about knowing your target audience and their requirements. Once you build a trusting relationship with them you can move ahead on the path of your business growth and sustainability.