As a start-up or an established business, you will have engaged with B2C sales and marketing almost daily. However, if you haven’t already, you should really widen your marketing and sales to look at other businesses.
Utilizing the products and services from businesses targeting your industry is not only key to helping you improve overall productivity, but can lead to better customer satisfaction and give you the edge over your competitors.
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B2B Defined
To start with, it’s important to know what B2B refers to. Simply put, B2B marketing refers to business-to-business marketing. It’s all about focused marketing towards promoting a product or a service to other businesses. Usually, these orders are large with dated regular cycles.
They are usually sold in these large batches to benefit the business supply and demand issues. For example, take an ice cream shop. They will have to order a large number of cones in order to sell their product, this will be done via B2B.
Usually, B2B products and services will be more complex, due to them being tailored for business rather than a consumer. Aside from the ice cream example. B2B products and services generally are more data heavy. The product could be a communication software tool for an office, or it could be a service for maintenance within your business.
Traditionally, one of the best ways to utilize B2B marketing was via trade industry shows. Where a business could show up and show businesses how they can use their product for their own benefit.
Whilst that is still an effective tool, as COVID-19 has shown, it’s not as practical in the modern business day. Instead, there are more digital tools available to speed up the process, whilst still maintaining a personal feel.
Difference Between B2B and B2C
B2C marketing is similar in ways. It stands for business-to-consumer marketing. They have the same end goal, but two very different approaches and methods. B2C is more individual based, looking at the instant enjoyment and consumption post transaction.
Usually, it’s in a product setting, but it can also be a service, within a retail or e-commerce setting, but ultimately B2C marketing means promoting anything to someone looking to purchase for themselves or as a gift.
All stores and e-commerce sites will utilize B2C marketing even if they don’t realize it, from in store posters to online offers. Indeed, most of us will make B2C purchases every day. Buying a coffee and taking the bus all count towards this.
Whilst B2B marketing is mainly tailored for businesses, some B2B businesses still offer individuals their services. Usually this won’t be as intense, it will be a lower volume of product available, or you’ll need to meet different requirements.
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Automated B2B Benefits
Having an effective marketing automated B2B can be a delicate procedure, that will require planning and forward thinking. However, once implemented, it can drastically help improve sales.
There are a number of different B2B marketing automation software available, with different features depending on the size of your business, and industry you work in. Usually, a lot will depend on your budget but there are options available.
One key feature you should look out for, is a visitor tracker to a page. This way, you’ll be able to see who’s looking at your page and site in general, and see how they’re using it. The software you use should be easy to use, otherwise it serves no use to you.
The aim of B2B marketing automation is to lead to high-quality results. One of the ways in which B2B can be automated is with finding leads. Leads can be nurtured by automating email marketing to inform and nurture leads. This is useful for those within industries where a lot of trust is needed before purchasing.
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Encourages Innovation
With B2B marketing, the aim is to make your business run as smoothly as possible using any available products, services, techniques and general work available. As there is always a demand to improve every aspect of a business, there has been the need for constant innovation.
Especially with e-commerce. E-commerce helps assure businesses that they will be able to keep their company running steadily during high-street closures. Having easy access to online business transactions has changed the game. Most notably, with virtual banking and interactive customer service.
Even ten years ago, one of the only ways to contact a business in regards to and problems or issues you’re having, was to contact them via a phone. Thanks to customer service innovation, we’ve seen artificial intelligence customer service bots via live chat assist users with problems.
That’s not to say that they can fix all problems, but they can help funnel down the issues to get customers to the right person within the right department, saving everyone time and improving overall logistics.