B2B marketing means business to business marketing. When a business sells products and services to other businesses, using B2B marketing plans, strategies and tactics.

How B2B Marketing Works

B2B marketing plans are made to let other businesses know that you exist. 

1. Make other businesses aware of your business, products and services.
2. Nurture relationships with interested businesses

Cultivating a client base

The B2B market is all about large numbers and bulk ( or wholesale) orders. When such large numbers are involved, it is a good B2B marketing tactic to cultivate good relationships with your target businesses. 

Every B2B marketing company is different. Cultivating a business client base is more difficult as compared to business to customer relationships. 

B2B marketers can use traditional B2B marketing strategies to build these relationships, like – 

• attending trade shows, 
• employing sales representatives

In the contemporary age, B2B marketers can use a mix of traditional and digital marketing to reach their target businesses. 

B2B vs B2C Marketing

The basic difference between B2B and B2C marketing is the target audience. B2B marketing strategies reach other businesses whereas B2C marketing strategies are directed at consumers. 

Let us understand the key differences. While the two concepts are marketing concepts , the two processes are quite different from each other.

B2B Marketing

B2C Marketing

Intent

B2B products and services are intended for businesses that further distribute to customers.

B2C products are intended to fulfil the needs of individual customers.

Price

B2B purchases have a very high price tag due to the scale of purchases.

Individual purchases are not very large, and hence each unit costs less.

Selling Cycles

The scale of purchases makes these purchases a regular commitment.

Individuals can buy products and services from multiple suppliers.

Decision Makers

B2B buyers have to convince many decision-makers, which becomes tricky to tackle owing to the number of people involved in a single deal.

B2C buyers do not have to make a huge decision as they can simply switch from one product to another, which does not take time.

Marketing Channels

B2B businesses market their products face to face after the initial small introductory interaction

B2C marketers rely much on online ways of marketing products.

Who uses B2B marketing?

B2B marketing companies have a smaller clientele as compared to B2C marketing companies. Some B2B marketing companies include

• Software companies
• Office suppliers
• Marketing agencies
• Bookkeeping and accounting

The Revenue Detective is the answer to all your B2B marketing solutions and strategies. We make B2B sales easier and help B2B marketing companies convert leads faster.

What is B2B sales?

B2B sales refers to the sale of goods and services to other businesses. It is a sales model that encompasses sales and marketing to other businesses using specialized sales techniques, representatives and marketing channels. 

The Difference between Sales and Marketing

While sales and marketing do not sound very different, they are. 

Marketing and sales may have the same goal – to generate revenue and build brand image – they are still very different in terms of processes, techniques and professionalism.

Sales – The term sales refers to all activities that are involved in the selling of goods and services.

Marketing – Marketing, on the other hand, refers to all the processes involved in getting people interested in your goods and services. 

How B2B Leads Work

Leads are the basic backbone of B2B sales, because of the limited clientele. If you do not have B2B sales leads, there are no clients and, of course, no revenue. 

Most new leads are still in the initial stages of the buyer’s journey, they are still evaluating their needs. The idea of cultivating sales leads is to tell them how your business can propel them beyond their expected scope. 

The hidden trick to getting B2B leads is using B2B sales strategies for social media, with conclusive marketing and sales mixes. As a B2B sales company, never rely on social media solely. 

Use social media with other marketing channels to get the best results. Make sure that the social media campaigns have the same information and offer as your other marketing offers. Consistency is key when it comes to B2B marketing. 

The Importance of Sales and Marketing Working Together

The greatest advantage of sales and marketing working together is that they can increase sales manifold because they can – 

• Understand audience better
• Interact with prospective clients and share insights
• Find out different aspects of customer’s buying journeys
  

You can find out some very vital information about your customer persona with a B2B sales process

• The overall reasons for making their choices
• The key factors involved in making the purchase 
• The specific traits clients look for in a business deal

What is B2B Lead Generation

B2B lead generation is the entire process beginning at identifying the ideal audience for your businesses’ products and ending at converting this audience to customers. 

B2B lead generation is the backbone of every business. 

There are two types of B2B leads

• Marketing-qualified leads – these leads are likely to become a paying customer. 
• Sales-qualified leads – these leads are marketing qualified leads who have progressed up the sales funnel. 

Facilitating the buyer journey is not easy. It is thus imperative that the marketing and sales teams work together. 

The sales team is split into 2 teams

Sales Development Representatives (SDRs) –  Source leads, engage and book meetings.

Business Development Managers (BDMs) – Conduct demos, close deals and generate revenue. 

How is B2B lead generation conducted?

B2B lead generation is conducted through sales and marketing activities. Let’s look at these, one by one. 

Sales

B2B lead generation in sales is called B2B outbound. 

Cold calling – SDRs telephone B2B leads and explain the products and services. 

Outbound email- SDRs contact B2B leads through email to strike up a conversation.

Social selling – SDRs engage with B2B leads on social media, especially LinkedIn.

Sales cadences – A combination of all these techniques is called a cadence. The changes of a B2B lead responding go up with sales cadences. 

Marketing

B2B lead generation in marketing is called demand generation. 

Growth hacking – B2B marketers deploy unusual methods – incentives, free tools – to create demand and grow business quickly.

Content marketing – B2B marketers publish relevant content – blogs, videos, webinars –  and promote it. 

Account-based marketing – B2B marketers identify the key decision-makers in a company and create marketing campaigns targeting those leads. 

The Importance of Data in B2B Lead Generation

Relevant and accurate data is vital for sales and marketing personnel. 

Sales – SDRs need to cold call or send outbound emails, which is impossible without accurate data. 

Marketing – If demand generation marketers have incomplete data, they can’t create targeted content that converts. 

Analytics and forecasting – Data is needed for KPIs and benchmarks. Accelerate decisions can be made only when there is accurate data for use. 

How Technology Helps with B2b Lead Generation

Technology has come as a boon for many sales and marketing professionals. 

Cold calling and outbound emails can be automated with technology and tools. 

Content creation for blogs and social media can be done through content management systems. 

The data about B2B leads is stored in Customer Relationship Management Systems (CRMs). This data  is used to improve business relationships. 

Now almost any lead generation task can be automated with technology. 

Get in touch with B2B sales consulting companies like The Revenue Detective and let us generate and handle your leads for you.

What are the Key Points in Building B2B Sales Funnels

There are predetermined steps to building B2B sales funnels.

What is a sales funnel?

Building a B2B sales funnel is the key to expanding business and generating B2B leads. 

This is how you can identify sales leads and turn them into customers.

1. Identify Your Target Audience

Target audience is the audience that fits into your ideal customer prototype, or is the closest match. This is the pool of leads that are most likely to convert to customers, and would be interested in your products and services. 

There is a lot of research that’s needed for this. 

2. Pick Your Promotional Methods Wisely

Bagging leads is not easy. You need to make tailored promotional methods that will sell your products and services to the right, interested audience. 

Depending on the target audience, you can use informational websites, blogs, webinars, social media, industry events and PPC advertising. 

3. Create a Sales Funnel

Once you have your target audience determined, and have a promotional strategy in place, you need to collect contact information. 

The first part of the B2B sales funnel requires a landing page which lets them share their contact information. 

There needs to be a proper customer relationship team at this point to manage the incoming leads. 

4. Use an Email Newsletter to Build Relationships

Next cultivate relationships from this contact information. Convert these leads into sales. One of the best ways to create a constant channel of communication is through email newsletters. 

5. Leverage Social Media to Connect and Engage

Social media is the best tool for businesses to engage with their leads and establish direct communication channels. 

Facebook pages, Twitter accounts, LinkedIn company pages are the best ways to entice leads and encourage them to engage with you. 

Pinterest and YouTube could be effective strategies as well to push leads further through the sales funnels. 

The more engagement you have with your customers, the more trust and persona you build. 

This is the perfect way to build and streamline sales funnels for lead generation and conversions. Use every tool available to you to propagate your business and improve upon feedback. 

If you have any queries don’t hesitate to contact us and we’ll be happy to help you. 

How to Create Powerful B2B Marketing Strategies

A B2B marketing strategy is the first step of your overall business plan. Creating a business plan is not difficult if you make a framework of your plan using these vital questions. 

Will Your B2B Marketing Strategy Support Your Business Goals?

Is your marketing strategy directly related to your business goals and objectives? You need to make a business plan that clearly outlines the objectives and steps to achieve them. 

Ensure that you have a proper timeline for these goals for a more realistic marketing plan. 

• What are your B2B Objectives and Why? 

Your B2B objective is the reason for which you’re building your marketing plan. When you decide on your venture, you have the main objective ready. Add it to your marketing strategy. 

Although the main objective may not have relevance in your business plan, it will help you formulate strategies and B2B marketing solutions in the right direction. 

• What is your target audience demographic?

Your target marketing audience is the ideal buyer. Describe this audience in your marketing plan in detail. Mention the demographics, traits and trends of the audience in your target market. Learn the user behavior based on age group, where to reach them, their pain points, and their needs.

• Who is your competition? 

Study your competition! This can save you a lot of market research. You can find your ideal customer profile from their target audience, and learn from their mistakes. 

You can boost your own sales by improving on competitors’ mistakes and adding something new and innovative to your B2B marketing strategy. 

• What is your Unique Selling Point?

What sets you apart from the competition? Your products or services make all the difference when you are trying to make a mark in the market. What will make consumers gravitate to your business?

Put in actionable ideas in your B2B business strategy. 

• What is your pricing strategy?

B2b businesses tailor pricing for each of their clients, however, you still need a standard pricing slab.

The pricing section of your marketing plan needs to have an overview of your products and services prices along with the factors impacting demand and supply. 

Support your pricing with reasons to validate your clients’ idea of value and benefits. 

• How to reach your target market?

Using the correct channels to reach your target market can make all the difference. How do you make your target market aware of your offers and customer service plans? 

A good marketing mix would include 

• Advertising
• Public relations
• Direct sales
• Internet marketing
• Sales promotions
• Marketing materials
• Packaging
• How will you allocate your budget?

You need to dedicate a section of your B2B marketing plan to budget allocation. A budget-friendly promotional plan can prevent you from going off budget. 

Break down your marketing budget into smaller monthly budgets. 

• What are the vital tasks you need to reach your marketing goals?

Once your plan is made, you need to put it into action. Take the end goal and break the actions leading to it into smaller tasks with definite timelines. 

• Is there scope for improvement?

Track and measure the results after putting your plan into action. It is inevitable that some parts of your plan will have to be tweaked for improvements.

Measuring your results will also help you tailor your marketing strategies for the most success. 

Every B2B marketing strategy is different. 

10 Reasons Why B2B Marketing is Special and Different to Consumer Markets

B2B markets and B2C markets are both markets but the strategies and scale of businesses are very different. 

Here is a list of why B2B products are different and you need to change the game plan. 

1. B2B Markets Have Complex Decision-Making Units

In B2B markets, there are bigger transactions involved, which has a bigger impact on businesses. These are categorized on the basis of value and risk. The marketer exhibits a high level of expertise in B2B marketing solutions while selling to the highly knowledgeable buyer. 

2. B2B Buyers Are More “Rational”

Contrary to consumers, B2B buyers are more rational and do not let their emotions come into the picture while drafting B2B marketing strategies. They can’t afford to lose out on profitable deals just because of a whim. 

This is why trust and security are critical when it comes to B2b transactions. 

3. B2B Products Are Often More Complex

Just like the decision making is complex in B2B transactions, so are the products. Industrial products always require high levels of fine-tuning. They are almost never the same for clients. 

Industrial products also need high expertise and precision to fit in the grand scheme of things, rather than simple standardized products intended for individuals (consumer goods).

B2B products need the marketer to know more about the technical details, provide after sales services, problem resolution, client management solutions, B2B marketing solutions and more. 

4. Limited Clientele In B2B Markets

Compared to consumer markets, B2B products and services have a small number of clientele with a large scale of operations. 

It is easier to cater to a few buyers rather than millions. Set up after sales service personnel and customer relationship teams to solve problems and queries around the clock. 

There are very few clients, hence it is more important to retain them. 

5. B2B Products and Services have Fewer Behavioral and Needs-Based Segments

Although B2B markets have fewer segments, identifying them is still a big task. It is only on the basis of this that you can make a marketing funnel to target them. 

The most simple strategy may be to simply segment clients on the basis of geography. 

6. Cultivating Relationships is More Important In B2B Markets

Since there are only a few clientele, there is a bigger need to establish trust and personal relationships. 

This clientele has a huge transaction quantity, which is ongoing and needs a certain level of trust to function properly. 

7. B2B Buyers Are Longer-Term Buyers

It is not easy to establish a transaction in huge proportions such as are required in B2B transactions. There is a lot of decision making, time and deliberation involved in the process. The sheer effort ensures that B2B clientele stays longer.

8. B2B Markets Drive Innovation Less Than Consumer Markets

B2B marketers have the luxury of only following trends and not to drive them. 

B2C markets are always dynamic to cater to the ever changing needs of the consumers. B2B markets are more stable and have to only focus on adaptive B2B marketing solutions. There is less innovation involved. 

9. Consumer Markets Rely On Packaging for Sales

Consumer markets spend a lot of money and effort on packaging, whereas B2B markets don’t need to worry about packaging. They can focus on developing relationships and expertise. 

10. Sub-Brands Are Less Effective In B2B Markets Compared to B2C.

Sub brands for B2B markets are usually marketing strategies that have gone wrong. B2B markets do not need sub brands, just a very knowledgeable technical sales team which can troubleshoot problems on the go. 

Let’s Discuss B2B Marketing Strategies and Solutions Now! 

Call on +805.222.6078

Top New B2B Marketing Trends You Need to Know

The COVID-19 pandemic has had a major impact on all strategies – B2C or B2B. 

The B2B markets have made a shift in their B2B marketing strategies to digital marketing after most people have switched to work from home formats. 

Changing B2B Marketing Trends in B2B Marketing Strategies  you need to know:

Account-Based Marketing

Account-based marketing is now encouraging that the sales and the marketing teams work closely together to drive results. Digital marketing is an indispensable part of boosting sales. B2B companies that use ABM have reported upto 97% higher ROI.

Marketing Automation

There are tools to automate marketing at every stage. Tools can efficiently and independently perform keyword research, creation and distribution of content. The global budget for marketing automation is expected to touch $25 billion by 2023. 

Customer Experience

Customer is always king. A customer-centric B2B marketing strategy is the best approach. Amidst the vast distraction for the B2B buyer sitting at home, interactive marketing strategies gained popularity. Surveys, polls, games and interactive sessions help capture the attention of buyers. 

Video Marketing

Advanced digital marketing strategies like video content and augmented reality are now available for use by B2B marketers. 

These add a more exhaustive experience to the user buying journey. Video marketing can fulfill more roles like entertaining and education rolled into one. 

Marketing Podcasts

Marketing podcasts are becoming a trend considering that most of the workforce prefers to listen to podcasts in the background. 

Podcast marketing strategies centered around making a deeper connection with their users can bring in more revenue. 

Digital transformation

Given the fact that the pandemic has changed the way the world sees marketing, digital marketing will go through a series of transformations targeting the changed user behavior. 

Data-driven decision making

The tools available to us today can give us any data we need to formulate marketing strategies. Decision making is no more an emotional element but more based on data and existing trends. 

Changing trends during the pandemic may change certain B2B marketing strategies, but even then decisions will continue to be made with data metrics at the core. 

Artificial Intelligence

64% of agents with chatbots are able to solve complex problems compared to 50% of the agents without. While AI for marketing is still in the early stages, it can still identify structured data and key insights. AI in business is, currently, more useful for ad buying and connecting B2B markets with more efficiency and speed. 

B2B Lead Generation Tools

B2B marketing may not be as dynamic as B2C marketing, but it still calls for innovation for lead generation. There are tools that can help you formulate, implement and analyze B2B marketing strategies. 

Here are a few of the best B2B Marketing Tools & Software you need:

• Hubspot

HubSpot is a customer relationship management platform (CRM) that is designed to manage and analyze customer interactions. It has many integrations like Gmail, outlook, ads management, email tracking and reporting dashboards that are perfect for B2B marketing. 

• MailChimp

MailChimp is your champ for email marketing. Stay connected with your customers, build brands, and generate more leads. It has customizable email automation with analytics that can be operated from a single dashboard. 

• Ahrefs

Ahrefs is your go-to tool for SEO. Get all your insights, metrics, and data at one place, on one dashboard.  Get backlink opportunities, and study your competitors. Track your mentions online. 

• Unbounce

Test your landing pages, popups and sticky bars with Unbounce. It is a B2B marketing tool that you can integrate with any CRM platform. It has the provision for editable JavaScript and CSS for further modifications

• GetResponse

 GetResponse is one of the best marketing automation tools.  It is a B2B lead generation tool to make your own landing pages, promote webinars with a great user experience. It has an automatic AutoFunnel feature where you can automate email marketing campaigns. 

• UberSuggest

UberSuggest is one of the best free tools for SEO. Boost your B2B marketing  strategies by finding keywords, CPC,

keyword search volume and more. If you need, you can subscribe to the paid version with more tracking metrics. 

• Zoom

The software Zoom is cloud-based and used for video marketing. It facilitates video conferencing where you can meet others virtually. You can set up rooms with many participants at the click of a button. Zoom can be integrated with Gmail, Chrome and Outlook. 

• Loom

Loom is a communication tool for video marketing that features instantly shareable videos. You don’t need to upload your training videos anywhere, just film directly on Loom. It is useful for B2B training and communication through video materials. 

• Slack

Slack is a single interface that allows teams to connect remotely at one digital spot. It features messaging, tools and file sharing. Slack also has integrated third party apps, private channels and customer care. It has many options for B2B marketing. 

• Sprout Social

Sprout Social is your one-stop solution for social media marketing. This tool consolidates all your social media accounts on one interface and offers content management, campaign management as well as a dashboard for analytics. 

• DataBox

Use DataBox to amass market intelligence. Gather and analyze information relevant to a company’s external environment and strategic planning. It gathers all your data and enables you to view your company’s KPIs across devices. 

• Feedly

Feedly is for content creation and allows RSS feeds to be pulled from numerous sources. You can follow multiple social media accounts, blogs and news sources in one manageable interface. Keep on top of your B2B marketing efforts with latest industry trends and social media content . 

Conclusion

B2B marketing is business to business selling of products and services. B2B marketing strategies are very different from B2C marketing strategies and so are the processes. 

It is more important to build customer relationships in B2B transactions for long term trust – which is needed to establish a continuous transactional relationships between businesses. Trust is needed for making B2B transactions where the scale of operations is humongous. 

Keep abreast of the newest B2B marketing trends and tools with The Revenue Detective. Outsource your B2B strategizing to us and just focus on your business operations. 

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