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COSLA Analyzing Business Markets - ULAN
- 1. 1 B2B IN ACTION! Uncovering the B2B Industry Bianca Flor Ulan Ateneo De Manila Graduate School V90 MARKMA Analyzing Business Markets @biancaulan
- 2. 1. B2B vs B2C (What is the difference?) 2. The Buyer Roles (Who?) 3. How B2B Buying Works? 4. B2B In Action! (Pareto Consulting) Outline of Learning Objectives We Will Uncover… @biancaulan
- 3. B2B vs B2C The difference lies within its target market… @biancaulan
- 4. B2B vs B2C The difference lies within its target market… @biancaulan
- 5. B2B vs B2C The difference lies within its target market… @biancaulan B2B has… Fewer and larger buyers Closer customer supplier relationship Geographically concentrated buyers
- 6. B2B vs B2C An example of a B2B company is… @biancaulan Market Research Agency Serves…
- 7. B2B vs B2C B2C Demand Affects B2B Demand @biancaulan Consumer Demand B2B Demand and Fluctuates Drives…
- 8. B2B In Action! Pareto Consulting Pareto offers services to businesses & institutions @biancaulan Market Research & Digital Marketing Agency Serves…
- 9. B2B In Action! Pareto Consulting Smile as a client is a Straight Rebuy @biancaulan Offered Retainership Virtual Assistance & Digital Marketing Services
- 10. B2B In Action! Pareto Consulting Pureprofile as a client is a Modified Rebuy @biancaulan Repeat Project-Based Projects Market Research & Statistical Analysis Support
- 11. B2B In Action! Pareto Consulting PCAF as a client is a New Task @biancaulan New Project Won by Bidding Technical Writing Service Used PhilGEPS
- 12. B2B In Action! Pareto Consulting We identify job titles per buyer role @biancaulan Buying Center Initiators Users Influencers Deciders Approvers Buyers Gatekeeper Business Development/ Marketing Managers Chief Financial Officer Procurement Officer Business Development/ Marketing Managers Chief Executive Officer Chief Marketing Officer Marketing Director Executive Secretary/Admin Chief Marketing Officer Marketing Director
- 13. B2B In Action! Pareto Consulting The company’s marketing communications is tailor fit per role @biancaulan Buying Center Initiators Users Influencers Deciders Approvers Buyers Gatekeeper Lead Magnet Campaign Digital Advertising Service Comparison Study ROI-focused case studies Company Profile Campaign Plan & Budget Cold Calling/Emailing Lead Magnet Campaign Digital Advertising
- 14. B2B In Action! Pareto Consulting Pareto Consulting’s clients undergo the buyphases @biancaulan Proble m Recog nition Gener al Need Descri ption Produ ct Specifi cation Suppli er Searc h Propo sal Solicit ation Suppli er Select ion Order Routin e Specifi cation Perfor mance Revie w
- 15. B2B In Action! Pareto Consulting Pareto Consulting’s clients undergo the buyphases @biancaulan Problem Recognition •Clients need to scale their business General Need Description •Clients identify that they can outsource sales and marketing processes to an agency Product Specification •Users, Influencers, and Buyers work on project requirements
- 16. B2B In Action! Pareto Consulting Pareto Consulting’s clients undergo the buyphases @biancaulan Supplier Search •Clients research agencies or ask recommendations Proposal Solicitation •Pareto Consulting shares a proposal to the prospect client based on their project requirements Supplier Selection •Clients choose their supplier based on which best fits their budget and requirements
- 17. B2B In Action! Pareto Consulting Pareto Consulting’s clients undergo the buyphases @biancaulan Order Routine Specification •Contract signing and negotiations Performance Review •Feedback and reporting
- 18. 1. B2B vs B2C (What is the difference?) 2. The Buyer Roles (Who?) 3. How B2B Buying Works? 4. B2B In Action! (Pareto Consulting) Outline of Learning Objectives We Will Uncover… @biancaulan
- 19. 19 B2B IN ACTION! Uncovering the B2B Industry Bianca Flor Ulan Ateneo De Manila Graduate School V90 MARKMA Analyzing Business Markets @biancaulan
Editor's Notes
- Hi everyone. I am Bianca from v90MARKMA and this is B2B in Action! Uncovering the B2B Industry by Analyzing Business Markets.
- We will uncover the following: - What is the difference between B2B and B2C? - Next, who are the buyer roles in the B2B industry? - Afterward, we'll deep dive on how B2B buying works? - Lastly, I'll take you through how our company, Pareto Consulting, takes part in the B2B buying process.
- Let us start with discussing the difference between B2B and B2C. To put it simply, B2B refers to business-to-business.
- Meanwhile B2C refers to business-to-consumer. Hence, the difference lies within its target market.
- In effect, B2B has a fewer and larger buyers, closer customer supplier relationship and geographically concentrated buyers.
- An example of a B2B company is Nielsen, a market research agency which serves businesses like Coca-cola, Nestle and Unilever Interestingly, these companies are B2C, right?
- In fact, we can also say that B2C or consumer demand drives B2B demand as well.. Nevertheless, the B2B engagement is price inelastic which makes sense because most B2B businesses buy only when they need, regardless if the price of the product or service is lowered.
- To better understand these concepts, I introduce to you a B2B in action example where I will share with you how Pareto Consulting relates to these. For context, Pareto Consulting is a market research and digital marketing agency which serves clients both locally and abroad.
- Let's start with Smile, a fintech startup. This is an example of a Straight Rebuy because our company is in a retainership option for them where we provide virtual assistance and digital marketing services.
- Next, PureProfile, a market research data provider, is an example of a Modified Rebuy since we have worked with them in multiple projects already involving market research and statistical analysis. Each project is tailor fit per the business objective of their respective clients as well.
- Lastly, PCAF or the Philippine Council for Agriculture and Fisheries is a "New Task". It was our first time winning a bid through PhilGEPS - the procurement website for government websites. For this client, we offered our technical writing service.
- Similarly, we also identified the best job titles to reach out to per buyer role. For context, these are the buyer roles fit for our Digital Marketing Service. Users and Deciders are typically the same people. They are the Marketing/Business Development Managers of the client. As users, we will be working with closely in support of their role. For initiators and buyers, these are in higher marketing positions such as Chief Marketing Officer or Marketing Directors. They negotiate with us as they always need to keep a budget within their department. For influencers, these will be the CFO and Procurement Officer and are in charge of evaluating alternatives. For Gatekeepers, these are usually the executive secretary. Lastly, we have the approvers which are the CEOs whom ultimately signs the contract
- With this in mind, we use different marketing comms. For users and initiators, we focus on educational content delivered through a lead magnet campaign and digital advertising. For gatekeepers, they are usually cold called or cold emailed. For influencers, we make sure we are ready to share a service comparison study stating how our service is a good value for money than competitors. For buyers, through our proposal, we ensure we have a proposed campaign plan with budget. For deciders, we share case studies and highlights ROI as well. For approvers, we ensure we are able to share our company profile - the composition of our team, our partnerships or affiliations, and our portfolio to speak for our credibility as an agency.
- Similarly, our clients undergo all these buyphases from problem recognition to performance review.
- Taking it from a perspective of a Marketing client, most of their problems is scaling their business. Hence, they identify that they need to outsource their sales and marketing to an agency. With this, users, influencers, and buyers work on refining their project requirements.
- To search for suppliers, they can research about agencies or ask for recommendations. Once they have shortlisted suppliers, they seek for a proposal. In this case, our company shares a proposal to the prospect based on their project requirements. Next, clients may have an exploratory call but ultimately, they will select a supplier which best fits their budget, requirements and culture.
- Once selected, contract signing and negotiations will take place. Once the project is active, there will be regular performance reviews. In fact, in our company, we always provide a feedback form after the project and weekly campaign reports for retainer clients.
- That's a wrap!
- Thank you for listening!