B2B marketing stands for business-to-business marketing. This involves promoting products and services to other organizations. The products or services being promoted may be for general business operation, production, or resale.
The products usually:
- are in large volumes;
- involve multiple decision-makers;
- the acquisition is more complex compared to consumer products.
What is B2B marketing in a broader sense?
In B2B marketing, a business is concerned with providing a specific product or service to another company that will fulfill their interests. The product being offered usually has a high return on investment and benefits for the acquiring company, for example, automation of manual processes.
What are the types of B2B digital marketing?
B2B marketing is important in bringing awareness of your product to prospective customers. Below is a list of different types of B2B digital marketing. Generating B2B leads is very important for B2B marketing.
- Social media. It enables the B2B business to present its services, reach out and engage with prospective buyers.
- Emails. They have been used with success for a long time. Now, with overcrowded inboxes and serious spam filters, your email campaigns strategy must be thoroughly developed to be effective.
- eBooks. These contain valuable information about your product, and they are usually downloadable. They are used as a B2B generation tool, usually with a user having to provide contact information for them to download the articles.
- Blogs. Blogs provide a platform to present product information resources in great detail. Within a blog, you can have downloadable articles, videos that further explain your product, and slides for further illustrations. Blogs are effective in providing B2B inbound marketing traffic to your main site.
What is the difference between B2B vs. B2C marketing?
Before we look at the differences between B2B and B2C marketing, we need to know what B2C marketing is.
What is B2C marketing?
B2C marketing stands for business-to-consumer marketing. This involves promoting products to individual buyers for personal use or consumption in a retail setting. Most conventional stores frequented by people utilize B2C marketing strategies. The stores are not limited to physical brick-and-mortar stores but also to online stores, for example, Amazon, which utilizes automation to reach thousands of customers daily.
Differences between B2C and B2B marketing solutions
B2B product marketing aims to provide B2B marketing solutions for problems encountered in an organization whilst addressing the company’s needs. B2C aims to fulfill the needs and address the challenges of individual customers who purchase for their personal use.
- B2B products and services are often expensive. They include bigger packages like machinery and software for the entire company. However, they might be of lower costs, for example, office supplies.
- Whilst B2C products are usually cheap as individual consumers have a limited disposable income. These may include clothes and groceries. But there are B2C products that have a high price tag, for example, the latest Lamborghini.
- B2B products are intended for use in a business setup.
- Whilst B2C products and services are intended for a specific individual buyer persona with intent for personal use.
- The acquisition process of a B2B product is usually complex and can take a long time. Contracts are common when there is a purchase or other services, such as new software installation, can take a long time to fully implement as employees will need to familiarize themselves with the new system.
- The selling cycle of a B2C product or service is often quick. For example, you don't need to sign a contract to get chocolate from a supermarket. These can be done multiple times within a short time, unlike B2B products that are planned for long-term use.
- Many factors need to be considered before the purchase of a B2B product or service. Besides, the final choice is a result of multiple decision-makers involved in the selection and recommendation of the product in question. Reviews from other product users are now critical in influencing the decision-making process. The long-term effects of the product or service on improving the effectiveness of the business processes are usually the most determining factor in selecting a B2B product or service.
- Whilst with B2C products, less thought is implemented in acquiring one. The emotional effect usually plays a major role in purchasing a product. Purchases are more of impulse rather than need. Online reviews by other customers now contribute to how other potential customers will respond to your products.
- For B2B products, on top of online advertisement of their products, they also directly approach their potential clients to present their products and services.
- Whilst for B2C marketing, social media, and email marketing campaigns are commonly implemented. Additionally, marketers utilize television and radio commercials to reach a wider audience.
What are the most useful B2B inbound marketing strategies?
The main goal for B2B product marketing is to ensure that the marketing message reaches the right people in the company who make a purchasing decision. As such, numerous marketing strategies are employed to ensure that the lead marketing is a success. Below is a list of B2B digital marketing strategies. Increase the effectiveness of your lead marketing with Belkins!
Business professionals communicate via emails. As such, this method belongs to one of the most effective B2B digital marketing strategies. More than 90% of B2B marketers use promotion emails, and 40% claim that email newsletters are crucial to their product marketing success.
With email campaigns, you can compose personal promotion messages directed to the company intended. The details of your product are clearly stated in your email and how it can benefit the potential client in their business operations. It is crucial because B2B customers look for the impact of the product and whether it will have a positive return on investment.
With continuous interaction with the company, lead generation follows and eventually transforms into a buying customer. With almost every company implementing this strategy, you must use B2B the best practices of email marketing for effective email campaigns.
What is B2B content marketing?
B2B customers always look at the value of the product being presented to them. Therefore, content marketing involves providing detailed information about your product through media, such as blog posts and eBooks.
This way, your content promotion will be accessible in various formats for the B2B leads. Effective content marketing educates the B2B customers and provides product information. Detailed posts will help you establish yourself as a leader in your respective industry. Besides, it will increase trust in prospective clients and the chances for them to contact you to acquire your services.
What is B2B content marketing in a broader sense?
Statistics have shown that more than 75% of B2B decision-makers prefer to get information from well-written articles rather than ads. Moreover, your B2B SEO implementations must be up-to-date. It will enable easy discovery of your content promotion by prospective B2B buyers interested in products or services that you provide.
B2B social media marketing
More than 70% of B2B buyers use social media while buying stuff. While this is so, social media marketing is not that easy for B2B companies. Besides, it does not count for many lead conversions in the marketing area of the business.
However, social media is a powerful tool for bringing awareness about your brand. With social media, you can create a content promotion to grow your audience and establish your company’s personality. B2B social media marketing works really well for brand awareness.
The top 3 strategies above look at online methods. Printing ads are also an effective business-to-business marketing strategy for marketers. It involves targeting specific newspapers, magazines, and publications. This approach is more cost-effective compared to having billboards and is more direct as it enables you to only focus on your target audience. Ads can also be customizable, depending on various target audiences in different locations.
B2B marketing strategies are not limited to those listed above. The ones listed are the top best of a pool of available strategies. To find out more, get Belkins’ advice on B2B lead generation marketing.
How to address your audience with business-to-business marketing?
When speaking to your B2B audience, you need to advertise your products using the perspective of what your audience is seeking. B2B decision-making positions are responsible for ensuring that the company is within the stipulated budget, and any additional major acquisition of a product or service must be worth it. When addressing your product, you need to show how the target audience will benefit from using your services. It needs to be clearly stated, and, if possible, use figures, charts, and graphs to provide a better comparison. From your presentation, the B2B audience must be able to distinguish how your product is better from other similar B2B marketing solutions available on the market.
Find out how to do proper B2B appointment setting to improve your marketing.
Detailed and relatable product information will enable you to demonstrate your company’s benefits. Trust will increase, and you will be able to establish a professional business relationship with your B2B audience.