Off The Lens Guide to B2B Marketing
By: Brad Harkes
This acronym gets thrown around a lot these days in the marketing world.. But what exactly is it and how does it apply to you and your business?
Business to Business Marketing
Business to business marketing is the efforts that a company uses to effectively market their products and services directly to other companies and not directed toward consumers. Most of the time the main purchase decision from the business is based on what will bring the greatest ROI.
What’s the Purpose?
One thing companies love - the highest possible ROI. One thing companies hate - wasted time. If you have a product that can solve one of those two or both then a B2B plan will be essential to your advertising towards those companies. When engaging in B2B marketing you aren’t wasting your marketing efforts to target the average consumer that your service doesn’t apply to. Instead you can focus on getting your product and brand in the faces of people who run or work at a business in a team setting.
Who Should be using a B2B Approach?
B2B can most commonly be seen for products & services such as tools, materials, office supplies, subscriptions, management softwares and so much more. Essentially any service that will support & enhance the daily operation of a company.
Two great examples of companies with products/ services that are meant for B2B are Hootsuite & Monday. https://www.youtube.com/watch?v=8ELpzmNeS4M Check out Monday’s Team Management app advertisement and notice how down to earth it is. One thing to keep in mind when utilizing B2B strategies is that you’re dealing with real humans not faceless companies. Although the software isn’t meant for your run of the mill consumer, Monday finds a great way to hit home with the real people behind the businesses that will be using the product, with the goal that the business will ultimately become a long term purchaser.
Hitting Your Target
In order for a company to gauge the value of the product or service being offered the main decision making basis is most often made on ROI potential. Of course there are many factors to look into as a business but it’s no surprise that profit potential is the main driving factor. Some main things to consider when conducting your b2b marketing efforts are:
The product and service - This is your bread and butter. Focus on how you can communicate what it is you’re offering to a trained professional. The goal is to highlight the quality, cost savings and to put a big emphasis on the potential ROI that can be gained from your offering. Let your intended audience know that your service will be high quality and a worthwhile investment.
Target market - Who is it you’re trying to target? What do they do in a day? What areas could their business improve in? These are questions to ask yourself before determining your B2B plan. The more you can narrow down the less time gets wasted by spending valuable resources on marketing that is hitting an uninterested and unintended audience. Take the time to really understand and segment your audience so you can create impactful ads that speak directly to them.
Channels - Utilize the online space using what you already have in order to communicate what you have to offer to your intended audience. Some great places to start are emails, LinkedIn, Facebook, blogs, website etc. LinkedIn is a must when targeting B2B. Most companies now a days are directly on LinkedIn and it has so many great built in features that allow you to directly communicate and advertise to any business you’re trying to improve by implementing your product.
Make sure your website is clear and optimized for inbound visitors to navigate easily and see your product and service right away. Use your digital real estate to provide value to your visitors in the form of blogs, videos, podcasts, case studies, etc.
Start Implementing Today
Potential business customers make purchases to enhance and support their business with long-term solutions. Thus the goal of the marketer becomes how do I convey that message to the business in a way where they buy in to the fact that what you’re offering will enhance the companies’ operation to become more profitable. It is then up to you as a business to cultivate a business relationship to keep the customers loyal
to your service by providing them value and ensuring an improvement in their ROI.
For any questions on all things marketing - reach out today, we’d love to hear from you!