What is B2B marketing?
Definition: B2B marketing is defined as the marketing of a
product or service to other companies / businesses in order to attract
potential customers and optimize conversions.
When companies or service providers sell their products or
services to any other commercial customer, they use inter-company marketing as
an effective marketing strategy to optimize the company's presence in front of
its target audience, establish relationships, drive the generation of sales
opportunities and increase sales.
For example, software as a service provides software
licenses and subscriptions to many companies. Other examples include security
solutions, office supplies, financial services, tools, and others.
A B2B marketing strategy places the person with
decision-making authority at the center and focuses on regulating your
purchasing decisions throughout the sales funnel. From understanding the
buyer's journey to creating a buyer image to developing b2b marketing content,
decision makers must use a variety of b2b strategies to build brand awareness
in their target market.
The importance of B2B marketing
Some of the main reasons why b2b marketing efforts are
important to the marketing team and the sales team are listed below:
1. Extended range of propagation
The B2 B marketing strategy allows companies to expand their
scope of activities and attract more customers under their jurisdiction. They
do not need to limit themselves to risky trips to the most different parts of
the world. Through the Internet, they can reach a wide variety of customers
without any problem.
2. Reduce the cost of products and services.
The B2B strategy requires that companies know the interests
and needs of the customer they intend to address. This significantly increases
the volume of investments. In addition, companies need to know their local
suppliers and customers. To do this, you can conduct interviews or surveys.
3. Zero cost marketing techniques
Advertising has now gone beyond television and newspapers.
With the Internet, you can target your audience around the world. This is an
age of innovation and creativity, so you need to make sure your content is
memorable. Advertising on social media is the whole game.
4. Create space for innovation
With e-commerce, companies can sell their products or
services in a variety of ways. It also allows them to maintain a stable and
reliable image in the market. Virtual banking, online shopping, online business
transactions, and more are made easy with e-commerce.
5. Reduced operating costs.
Initial operating costs are too high. Use new technologies,
advertising, expand products or services, etc. It requires a significant
investment. It can be costly in the short term, but the long-term benefits to
the business outweigh the costs.
B2B marketing vs B2C marketing
The difference between B2B marketing and B2C marketing lies
mainly in their audiences, since in B2B marketing the target audience is a
different business, while in b2c the target audience is a paying customer.
B2B marketing and B2C marketing also differ in the way they
communicate, as B2B marketing focuses on relationship building, while B2C
marketing focuses on quick fixes.
B2B marketing strategies are designed in such a way that
they can demonstrate ROI to business customers, while B2C marketing strategies
take into account creating engaging content to convert the target audience.
Let's take a look at some of the other differences between
b2b marketing and b2c marketing in the comparison chart below.
BASE OF DIFFERENCE MARKETING B2B MARKETING B2C
Importance Marketing of goods and services between two
companies is B2B marketing. The type of marketing in which a business sells its
products and services to a consumer is B2C marketing.
Client Organization, business, company or several companies
End user
Focus on building relationships with the target business.
Sell a product or service to an end user.
Number of products Large Small
Supplier-manufacturer relationship
Manufacturer - Wholesaler
Wholesale merchant
Retailer - Consumer
Short-term long-term relationship goals
Long buy and sell cycle
little
Purchase decision Well planned and rational according to
Emotional requirements according to the needs or desires of the user
Creation of brand value Trust and relationships Advertising
and promotion
B2B marketing strategies
B2B marketing strategies
Research and analysis
In B2B marketing, companies must c
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