Today, it is not enough for B2B companies to sell more or cover more territory. To increase revenue and stand out from the competition (even with lower prices), B2B companies need to change their marketing approach: focus on customer experience, not price.
B2B marketing features
B2B company tend to have closer customer relationships than B2C brands, as contracts in the B2B segment can last for years. In addition, in B2B marketing, the sale itself can take longer than in B2C marketing and is more dependent on personal contact with a company representative.
B2B marketing agency advertising relies on unforgettable creativity – it is important for companies to convince customers that they need their product. B2B marketing emphasizes expertise – it is important for companies to show that they understand the customer’s business, its complexities and challenges better than anyone else.
Unlike B2B services marketing, where customer decisions are often impulsive and based on personal preferences, B2B customers are guided by considerations of the benefits to the company and choose a partner as rationally as possible.
Travel constraints have influenced customer and supplier behavior – as in the B2C segment, business has moved online. According to Wunderman Thompson, while up to 44% of marketing company services customers made offline sales through sales representatives before the Kovid crisis, only 16% did so after the quarantine. Other online sales indicators are also on the rise: for example, the number of B2B customers making purchases on suppliers’ websites rose from 51% to 54% during the crown virus crackdown. It is currently difficult to predict whether new customer habits will take hold.
The basis of the marketing mix in B2B
- Maintain close contact with customers
b2b marketing companies are usually in regular contact with their customers and are generally loyal to their partners. A b2b agency may know a customer’s name, address and phone number, maybe even their birthday, personal interests and children’s names – all important for personalisation and building an emotional connection. Collect feedback – find out how you can support your loyal customers, anticipate change and improve CX.
- Use all digital channels
Make sure your brand’s digital channels are up to date, including website, blog, social media profiles. Optimise digital channels – find out what works and what doesn’t, reallocate resources and budget where necessary.
- Don’t ignore video
Convert your B2B brand marketing messages to video, it’s the format of the future. In 2019, 87% of companies are now using video as a marketing tool (compared to 63% in 2017 and 81% in 2018). And 83% of marketers believe video delivers a good return on investment.
- Manage your online reputation
In the past, online reviews were thought to be important only for B2C companies, and superficial and not very relevant for B2B brands. However, a company’s online reputation and overall impression of the company influences customers’ decision to do business with the company also in the B2B segment.
- Give customers something of value
A good tactic to attract customers is to give them something of value right away that will cost you next to nothing. For example, expert help of one kind or another: checklists, optimisation tips, training and webinars, access to digital services.