Let’s start with a little theory. B2B Marketing, Industrial Marketing and Technology Marketing – are they the same thing?
Before delving into the best strategies for B2B, it is necessary to make a distinction between these terms.
Initially, B2B marketing appeared in industrial companies. In this sector, many of the companies that sell to other companies are industrial. They manufacture machinery, parts, materials… that other companies that sell to the end customer need. It Difference was with them that the need to implement actions that would generate more business, increase the number of clients (companies) and sales began to appear.
However, business-to-business companies are not only industrial. Others, for example, offer IT services, SaaS software, food… Therefore, the concept of “ industrial marketing ” cannot cover new B2B sectors in which to do marketing, such as: SaaS Marketing or Technology Marketing .
The important thing is to know that there are Difference many options in B2B marketing. And that it is an area that must be strengthened to increase business opportunities, especially in the digital environment.
Characteristics of B2B Marketing and differences with B2C
What are the key aspects of B2B marketing? Without a doubt, business-to-business marketing has its own characteristics, which are key to understanding what the best strategies for B2B companies consist of.
The purpose of the purchase: companies are not looking for the same thing as an end consumer, nor do they buy in the same way. While B2C purchases are more impulsive and based on emotions, companies seek to cover their production needs. Customer service, delivery, profitability… factors that are more objective and less “emotional” take priority.
The buyer: who buys in B2B? This question is fundamental for a B2B marketing strategy. We will always have to direct our actions to our buyer persona. However, in this sector, several people are often involved in the purchasing decision process.
Targeted strategies: our buyers are very specific. In B2B, your clients may belong to very segmented niches. The marketing strategy to follow in your B2B company should be similar as well.
Traditional marketing still has a lot of weight: although many B2B companies are carrying out digital marketing actions, (especially after the lockdown) traditional offline marketing actions still have a lot of weight. For example, attending trade fairs or Difference conferences. But how many B2B companies are able to determine the ROI (Return on Investment) of attending trade fairs and conferences?
The purchasing cycle: Several professionals are involved in the purchase, they base their purchase on objective factors… all of this means that the purchasing cycle is longer. In B2B Marketing, it is essential to carry out a study and monitoring of our conversion funnel, which will show us at what stage of our sales funnel the users are. And also our conversion rates.
b2b growth chart
B2B Marketing Objectives Today
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Putting the customer at the center
We want to know our Buyer Persona to put the customer at the centre of our B2B marketing strategy. We will create relevant and informative content for them. We will analyse the different stages of their Customer Journey. We will accompany them in their purchasing process… Don’t forget that your products meet a problem or need of your ideal customers.
KPIs and ROI analysis: measurable marketing
It is necessary to be able to analyse the results of our B2B marketing actions. It is essential to select the KPIs (Key Performance Indicators) for the actions of our strategy and study their effectiveness. These can be: web traffic, web conversions, number of proposals sent, number of sales…
In addition, it is important to know the ROI (Return on Investment) of marketing actions, to know how to distribute our annual marketing budget and Difference which actions generate the greatest return or best results.
Did you know that many B2B companies still do not track KPIs or their ROI? However, knowing this information is essential to request a larger budget from the company.
cta marketing report 2b2
We are targeting specific professionals It is important that our sales
team works in parallel with the B2B marketing strategy with a Social Selling strategy.
Here, sales professionals prospect their buyer personas through social media and contact them directly. To do this, they must plan their messages well and request material or content from the marketing department.
The main space to develop a Social Selling strategy is LinkedIn, as it is the social network for professionals. However, depending on the sector, we can find professional interest groups on Facebook, forums, hashtags or Twitter campaigns in which to collaborate or participate.
Smarketing: Marketing and sales alignment
One goal for B2B companies is to fully align their marketing and sales departments. In this way, B2B marketing and B2B sales actions can be processed under a single plan . The Customer Journey can be processed and the company’s overall results can be improved.
Marketing is responsible for creating whatsApp number materials content, generating traffic, branding, acquiring leads and qualifying them to make the work of the sales department easier.
Sales manages qualified leads (MQLs) and identifies them as sales-ready leads (SQLs). They then provide feedback to marketing, request agent email listcontent, share insights on buyer persona and industry pain points. And, of course, they close the sale.
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cta marketing guide
Obstacles to Business to Business Marketing
What are the main obstacles facing B2B marketing? Many of them are reflected in the Connext Annual Report 2020. Especially with regard to the digitalization of marketing and sales processes, which are essential for the development and growth of a B2B company today.