How to Design a B2B Marketing Strategy

There is a difference between business-to-business and B2C marketing. B2C marketing encourages an individual to purchase a product or service Businesses target other businesses in B2B marketing.

The automotive industry is a good example of B2B. Every piece of a car isn’t made by Ford, Chrysler or Honda. They don’t sign contracts with large manufacturers, instead they sign contracts with smaller manufacturers.

The B2B Buyer’s Journey

The B2B buyer’s journey is made up of three stages.

• Awareness
• Consideration
• Decision

Understanding how organizations move through this journey is needed to effectively target B2B marketing communications.

In a B2C strategy, you only have to convince one person to buy something. In the B2B sphere, an average of six to 10 people are involved in buying decisions Each of those people collects at least four to five pieces of their own content to present to the group.

Nearly 75% of B2B sales to new customers take at least four months to close, and nearly 50% take seven months or longer. Most B2B customers take up to three months to make a buying decision. B2C sales can take as little as a few minutes to complete.

There is a role of journey orchestration engines in 2022.

The Four Ps of Marketing

Product, price, place, and promotion The marketing mix, also known as the four Ps of marketing strategy, was written by E. Jerome McCarthy in 1960.

Neil Borden, an advertising professor at Harvard, wrote The Concept of the Marketing Mix in 1964.

The marketing mix helps companies overcome the barriers that prevent the widespread adoption of products. Companies still use these ideas decades later. As your products and buyers change, regulartweaking and updating is needed.

Product

Companies make products or services to solve a problem for another company. It is possible that the product creates demand.

All products have a life cycle, and your marketing strategy needs to provide for that. When you market a product or service, you need to know where your buyer is in their journey, as this will dictate how much content you need to attract the buyer, where you should place that content and how much you will charge for that solution

Price

Price your product or service according to its true value. When calculating this number, consider factors like supply costs, what your competitors are charging for similar items, and what customers will pay before you hit a price point.

Some companies increase the price of items to make them look more luxurious. Some prefer a lower price to attract more buyers.

A low price point could indicate a budget item or something that is not up to the standard as similar but higher-priced items.

Place

It’s also important where you sell your goods. You want to get your product in front of the buyer when they’re most likely to make a purchase.

Content or ads may be placed on a specific website. Sometimes it means putting your product in a specific store or location.

Say you have a prospect in the awareness stage of the buyer’s journey. It might be a good idea to place an ad on social media that points out a problem and how your product is the solution.

Promotion

Show existing and potential customers why they need your product or service and why it’s worth the price they’ll pay by using promotion.

In the past, most promotion happened in radio or television. You can place ads online or on social media.

FedEx is promoted in the movie “Castaway.”

The story of a man stranded on a desert island is featured in the film, but it begins with him working for FedEx and ends with him delivering one last package.

Types of Business-to-Business Marketing Strategies

Digital, traditional and face-to-face are the three categories of b2b marketing.

If you want to use a mix, you’ll need to decide which type will work for you. Consider what resources you put into each category.

Digital

Digital marketing started slowly in the late ’90s, gathered steam at the beginning of the 21st century, and now dominates many market segments

Digital marketing can be scaled up effectively. Real-time reports on how a digital marketing campaign performs allow you to shift resources into a particular area quickly and efficiently. Because of these tools, it’s easier to track the return on investment of a campaign.

Traditional

Traditional marketing techniques can be used to increase brand awareness, even though they are not as effective as a digital campaign. Print, radio and television are used to create that awareness.

You want to be the company that comes to mind when a business needs a vendor. When you think of a search engine, the first thing that comes to mind might be the one from Google. You might think of Coca-Cola.

Face-to-Face

One of the most effective marketing methods is the strategy. It involves face-to-face meetings with customers.

Face-to-face doesn’t mean you have to meet with them in person It can also include phone calls, instant messages and video chats.

Are you suffering from Account Blindness in B2B marketing?

The Top B2B Marketing Channels & Resources

The success of your campaign depends on the types of B2B resources you create and the location of those resources. There are a lot of options available to meet your target audience.

Your Website

A website that looks professional and easy to use should be built. They can quickly move from page to page if they have a navigation that allows them to find what they are looking for.

You should think like a buyer. When you visit a website that makes it difficult to find something you want, you find it frustrating. Don’t make that website.

Content

Content can be used to make your website stand out. Content is important in helping buyers during their journeys, and is a great way to show your expertise in your field.

You can utilize different types of content.

• Blog posts
• White papers
• FAQs
• Research reports
• Videos
• Webinars
• Ebooks
• Podcasts

Some types of content are more effective than others. In one survey, it was found that people pay the most attention to video content and news articles.

People want to see more video content from brands according to the same survey.

Email Marketing

People who visit your website are willing to give their email addresses for a specific piece of relevant content. The collected email addresses can be used to build a newsletter list or give customers notices about product developments.

You should be careful with email marketing. If you send too many emails, people will send your messages to trash, so mark them as junk or unsubscribing.

Search Engine Optimization

You want people to know about it if you spend time and money on it. Fortunately, you can reach those people through the internet.

You can ensure people find your content when they use a search engine by using the right techniques.

Social Media

B2B buyers want to see brands’ social media posts. Social media platforms used for B2C marketing won’t be helpful for B2B.

One powerful B2B social media platform is LinkedIn, which is used by business professionals around the world. You can also find success with other social networking sites.

Pay-Per-Click Ads

Pay-per-click or paid search can be used to target customers who use search. The promotional ads appear at the top of the search results. They’re still relevant to the user’s query.

You can place pay per click on other websites, such as directories and email providers.

Influencers

Over the past five years, influencer marketing has become a way to market your product. If you know someone who frequently writes about your industry on social media, you should develop a relationship with that person. It is a cost-effective and relevant way to improve your marketing.

Local and niche markets tend to have very loyal followings, which makes them an effective target.

Conferences, Conventions and Displays

B2B marketers had one of the best marketing channels before the Pandemic hit. We still don’t know their effectiveness in a post-COVID-19 world.

It is not certain that conferences and conventions will disappear, but they may be less frequent.

What’s the best B2B social media marketing strategy for your business?

How to Design a B2B Marketing Strategy

B2B marketing strategies can help your business, so it is time to design one.

1. Do Your Homework

Developing a marketing strategy out of thin air won’t work Do your research Think about your target audience and why they purchase your products.

A competitor’s analysis should also be included in the research. You need to look at the competition, how they present their products, and if there is a niche you can fill.

2. Create Ideal Customer Profiles (ICPs)

Talk to your marketing and IT departments to find out who buys your product. When they tend to make a purchase, and the channels they use, should be revealed from marketing data. You can use this information to create an ideal customer profile for each marketing segment.

You may only offer one product or service, but it will affect the channel and market segment you want to use. A potential buyer in the awareness stage will need different information than a buyer in the decision stage

3. Map Out the Buyer’s Journey

If you want to take potential customers through the buyer’s journey, you need to plan how you will take them.

People rarely wake up and say, “I will buy that today.” That’s why it’s a journey. Consider the pain points and obstacles they will need to overcome if you move them from the first stage to the last.

With libraries of information at their fingertips, buyers are more informed today than before. Don’t think about selling, think about helping when mapping out the buyer’s journey. You risk losing the buyer if you push them into a purchase at a wrong point in the journey.

It is possible to think about your own purchases during this step. How did you find out about a product or service? What made you want to learn more about it? What did you do before making the purchase?

4. Decide What Channels (and Resources) to Use

There is a different type of resource required for each channel.

People in the awareness stage may want a white paper. There are resources that outline a problem and how a solution can be found. Those in the consideration stage might be looking for answers to some questions.

For each step of the buyer’s journey, think about which channel will entice prospects or customers. Determine what type of resource will push them to the next phase of their journey.

Reach Your Target Audience With B2B Marketing

B2B and B2C marketing both rely on planning and preparation, but different audiences require different strategies and tactics.

Building a successful B2B marketing strategy involves looking closely at your target audience and what they really want. The knowledge you have will allow you to focus on the channels and resources that will help you purchase.