B2B marketing involves activities aimed at generating sales between businesses. It focuses on a small number of local business prospects and customers. The buying process for larger businesses involves more individuals and criteria, and takes longer than consumer purchases. B2B products tend to be more complex than consumer products, and business buyers ask detailed analytical questions. Successful B2B marketing requires understanding the industry, segmenting existing clients, and targeting the specific interests and needs of decision makers within companies.
2. What is B2B
Marketing? B2B: buying and selling goods and
services between businesses
B2B Marketing: activities aimed at
generating inquiries, leads, and direct
sales, as well as assisting organizations
in establishing and maintaining their brain
presence among the other companies
with which they deal
3. Primarily Local
Marketplace Marketing to companies
entails focusing on a small
number of consumers or
prospects.
Because small firms still
benefit from sourcing their
suppliers locally, the majority
of such enterprises are likely
to be local.
4. Buying
Process
The larger the company, the
more individuals participate in
the decision-making process.
Decisions are made based on
more reasonable and
objective criteria.
The purchasing choice might
take considerably longer.
5. B2B Complexity
BUSINESS-TO-BUSINESS
PRODUCTS/SERVICES ARE LIKELY TO
BE MORE COMPLICATED THAN
BUSINESS-TO-CONSUMER
PRODUCTS/SERVICES.
-EVEN WHEN THE ITEMS ARE MORE
COMPLEX, A BUSINESS'S PURCHASING
CHOICE MAY BE BASED ON WHOLLY
DIFFERENT FACTORS THAN A
CONSUMER'S.
BUSINESS BUYERS ARE
ANALYTICALLY DRIVEN, ASK A LOT OF
DIFFICULT, DETAILED QUESTIONS,
AND WANT EXTENSIVE, TECHNICAL
ANSWERS.
6. B2B Markets
• Types of markets include;
-Resellers
-Institutions
-Manufactures/service providers
-Government
• The most visible types of business-to-business transactions are those in which
manufacturers and service providers sell to other businesses
7. Market
Research
When making a
transaction through
B2B, one must
consider the features
of the B2B industry
and build a
marketing plan that
responds to the
investor.
-Begin by
segmenting existing
clients.
-If it is possible to
identify groups with
similar features, it will
be possible to build
products and
services to meet their
demands.
Marketing may be
tailored to each
individual in order to
focus on what is of
personal interest to
them and what they
seek from a provider
or product.
9. B2B
Decision
Makers
While consumers frequently make
decisions as individuals, corporate
purchasers typically operate as part of a
group.
If one wants anyone in a company to be
an advocate, one must first discover who
could be beneficial and then supply them
with the necessary information to make
the product appear to be the ideal choice
for their specific goal.
10. Conclusion
• To fit the way businesses function, B2B marketing needs a one-of-a-kind
strategy.
• The marketing emphasis is on segmentation-based prospecting and referral
connections.
• Maintain up-to-date and easily available client and prospect information records.
• Improve retention and lifetime value by cultivating trust and loyalty
• Recognize the operation of business-to-business marketing and design
marketing strategies accordingly.