29 September 2020
A solid marketing strategy is often the difference between a successful company and one that fails to meet sales goals, and this becomes truer as time goes on.
It’s not always obvious, though, how to go about your B2B research when developing your marketing plan. Fortunately, there are concepts you can keep in mind in order to help you do so.
Not sure where to start? Don’t worry, we’ve got you covered.
Let’s take a look at everything you need to know.
You’re speaking to a smaller number of people
Perhaps the most notable difference between B2B and B2C marketing is the drastically reduced number of people that you’re speaking to. In fact, your marketing campaign may only target one or two people at a particular type of business.
B2B companies like Google, Intel, and Cisco are often used as a point of reference when it comes to proper marketing.
As a result, you’ll need to communicate far more thoroughly through your advertising and make an extra effort to appeal to your target demographic.
For example, you aren’t likely to garner the attention of a B2B demographic if you speak to them as if they’re a basic consumer in the first step of the buying process. Instead, convey that you understand their pain points, their needs, and how your business can help resolve them.
Decisions take time to make
B2B transactions carry a heavy price tag with him. Generally, a purchase of this type is often worth thousands or even millions of dollars.
This kind of purchase often needs the approval of multiple decision-makers after they research whether or not the service will benefit their company in the long run.
So, it should come as no surprise that these purchases are completed far more slowly.
The message your marketing provides should be one that encourages them to get in touch with you and learn more as opposed to instilling a sense of urgency. From here, they will be able to learn all they need to about what your company offers at their own pace.
Your audience is more educated
You’ll have a lot more freedom when it comes to targeting high-level employees of other companies as opposed to a typical consumer. Since your audience will already understand the ins and outs of the industry, the jargon, etc., you can get straight to the point without having to explain information they are already aware of.
Instead, it’s important to highlight how your company stands out from its industry competition and The unique utility that you are able to provide.
Since your audience is more educated, you’ll need to put in more research when it comes to defining their buyer persona. This means going beyond typical categories like hobbies/interests or geographic location.
You should consider attributes such as:
- The typical responsibilities of the role you’re targeting
- Ways they might be seeking to improve their productivity
- The typical solutions they look for when they encounter an issue related to their job
The more specifically you can define your target demographic, the easier it will be for you to resonate with them. Keeping their level of education and familiarity with their industry in mind will help ensure that you develop the ideal avatar for your buyers.
Long-term customer relationships are crucial
Since the purchase process for this type of transaction is so expensive, it doesn’t make sense for companies that provide B2B products and services to neglect the relationship they’ve already established with a recent buyer.
From the buyer’s point of view, they need to find someone who they can trust to provide both excellent service and someone who will work with them if any issues arise. So, those responsible for organizing B2B transactions typically like to work with as few companies as possible.
By making a good impression and showing your buyer that you’re able to fulfill their needs, it’s not unlikely for them to choose you as their primary vendor.
This is especially true when it comes to products, since finding a company that offers high-quality products at a reasonable price often proves to be notably difficult.
Fortunately, fostering a long-term relationship with your audience isn’t particularly difficult.
Great ways to go about this include:
- Giving discounts for signing more extensive contracts
- Rewarding long-term customers In some way, such as offering them perks that aren’t available to newer buyers
- Offering from your customer service that’s included in a typical agreement
You also have the benefit of your customers telling their friends and colleagues about your services. For example, it’s highly likely that a satisfied buyer will have no issue praising your services to someone who is not a competitor in their industry.
This will ultimately lead to more interest in your brand, more transactions, and more revenue over time. So, it’s essential to prioritize your relationship with your audience as early as possible.
Proper B2B research can seem difficult
But it doesn’t have to be.
With the above information about how to conduct B2B research the right way in mind, you’ll be well on your way toward ensuring that you target exactly who you need to.
Want to learn more about how we can help? Feel free to get in touch with us today to see what we can do.