What is Business-to-Business marketing?
Business-to-Business (B2B) marketing mainly involves the vending of one company’s products and services to another company’s product and services. The goods could be used for the production of some other goods, for reselling it to the consumers or could be used in the general operations of the business.
Pre-requisites for a business-to-business marketing:
B2B marketing requires products for other companies. You should not just start off without even a rough idea in your mind. This will only lead to unproductive outcomes and will take you nowhere!
The first thing that one should do is think about the product, its merits and demerits.
Several questions should come in your mind before finalizing anything.
- Is my product beneficial for the company?
- What would be the gain that my product/service would provide to the clients?
- How much will my product/service help the clients to earn?
- What are the main advantages of my product/service that makes it better than the other in the market?
- What efforts can be made to improve the quality of the product/service?
- What is the price structure of the similar product in the market?
Conduct a thorough analysis of your products and services. Customer feedback is the best way to do this.
B2B success stories on Social Media:
Approximately, 69% of the Indian B2B marketers agreed social media to be one of the major tools to engage potential customers. Statistics regarding the success of lead generation for B2B companies using the social media marketing is quite high. B2B buyers are much more attracted towards brands which have a strong social presence. They prefer the companies to present the information via social media.
Look at some of the below mentioned successful social media campaigns implemented by few companies!
iYogi being a technical support company faced many difficulties in generating leads and creating brand awareness for its new service; Digital Service Cloud. The company chose LinkedIn to focus on the key areas of interest and target audience.
The campaign was a huge success and helped to achieve 62% of the follower base in duration of just three months.
The company chose Twitter along with paid media and Adwords for the purpose of selling its web-based team along with the project collaboration software. Product announcements, news and blogs were shared on a continuous basis and thus, generating leads.
The above two examples show that social media is really an efficient tool for the B2B marketers. It not only helps to increase brand awareness on a huge scale and target a bigger audience, but also establishes a company as a thought leader. The company gets to connect easily with the clients and the prospects. Good relations are built with the people who can influence the industry. Social media and email marketing also trigger word of mouth conversations and helps in optimising the conversions for B2B companies.
What do you think about scaling an efficient B2B business? Share your thoughts in the comments below!