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B2B marketing: what are the best strategies to grow your business?
Effective marketing is no easy feat, as you must juggle many things simultaneously. Budget limits, channel decisions, and creative demands are only a few aspects of marketing that require your full attention. However, what determines the success of your strategies is your audience. Your ads and promotions will fail if you don’t target your buyer persona adequately.
Target audiences don’t only consist of individual consumers; they can also be ventures. While some organisations cater to individual buyers, others serve organisations. There’s a significant difference between marketing to businesses and marketing to individual customers. This article focuses on the first one, namely business-to-business or B2B marketing.
What is B2B Marketing?
B2B marketing involves the strategies a business uses to promote its goods and services to other ventures. Simply put, you sell to corporate customers instead of individuals. The purpose of B2B marketing is to enhance your service or product’s visibility, drive leads and generate sales. You can achieve these goals through SEO, social media, content marketing, and other digital marketing techniques that B2C marketers use.
A characteristic of B2B marketing is that it involves a longer sales cycle. Buyers look for services that can bring effective solutions to complex problems related to their venture. Therefore, effective B2B marketing comes down to providing relevant and persuasive content that catches buyers’ interest.
What is the difference between B2C marketing and B2B marketing?
B2C marketing and B2B marketing are different in terms of applications, audiences, and the strategies they use. While B2B marketing targets organisations, B2C marketing targets individuals. When it comes to B2C, customers don’t necessarily focus on long-term relationships or long-term solutions. However, things don’t work the same in the B2B sector, as customers look for long-term solutions when making a purchase. This results in a longer sales cycle and longer relationships with organisations.
What strategies can help your B2B business prosper?
For your B2B business to succeed, you need to implement the right strategies. The buyer’s journey is unique in B2B marketing, as you’re not selling to a single customer but to an entire group of people who are all involved in the decision-making of purchasing your product or service. This journey is about educating and providing value and practical solutions. That being said, here are 5 marketing strategies to implement in your B2B business.
Research is the foundation of all your marketing efforts. Whether marketplace research or brand research, comprehensive scientific studies are the key to making an informed decision. They can provide valuable information that can help you measure the results. Conducting research allows you to learn more about your customers, and this information enables you to serve them better.
Market research also provides you with insight into the performance of your processes. This means you’ll be able to figure out what aspects of your venture are the most successful and, thus, learn what services you should offer. The impact of research on your B2B business is unquestionable – companies that conduct systematic research on their clients are likely to grow more rapidly than those that overlook its importance.
A high-performance website
Your venture’s website is more than a mere digital brochure, as some companies once believed. A successful website is at the core of your company’s digital presence and an essential tool for boosting visibility. Potential customers look online for service providers, and if you want to stand a chance with them, you need to develop a website that performs well.
One critical element of your website is its design, as it has the power to impact your audience’s perceptions and make your business stand out from the competition. This means you shouldn’t overlook this aspect, as it provides a significant opportunity to convey credibility.
You likely know how powerful social media is in helping a business reach a large audience. In fact, more than half of buyers check the social channels of service providers, which shows that these platforms are more relevant than recommendations and formal referrals.
Even referrals occur via social media interactions these days. In other words, social media plays a significant role in the success of your B2B business. It can help you build a solid reputation and connect with valuable influencers and contacts.
Your website can’t perform well if your target audience can’t find it -this is why SEO is an essential strategy in B2B marketing. While SEO is complex, it ultimately involves two main components, namely on-site SEO and off-site SEO.
On-site SEO communicates to search engines those concepts on your website that are relevant to your target audience. This happens via targeted keyword phrases that focus on your expertise and services. Search engines then use this information to generate more relevant results, allowing audiences to find you when looking for insight into your area of expertise. Off-site SEO uses links to boost your website’s authority. This can occur through guest articles or outside engagement. Ultimately, search engines will perceive your website as credible, resulting in higher rankings on Google.
Advertising doesn’t only play a role in promoting your services. It can also drive content downloads which will increase your visibility and expertise. While there are different platforms used for advertising, you should choose one that’s adequate for professional services.
LinkedIn is a good example; it allows you to target the ideal audiences, leading to more conversions and significant click-through rates. On the contrary, using methods like SEM for advertising purposes isn’t only costly but also makes it challenging to target the right audience. And the same is true for Facebook ads, as you can’t find as many professional service buyers on this platform as you would on others.
In the business world, there is no such thing as growing comfortable. You simply can’t stand still; you must constantly look for ways to improve if you want to remain competitive. The online marketing world is developing at a quick rate. If you want your business to be relevant, you must conduct adequate research and gather data to improve your B2B business’ performance.
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DISCLAIMER: We hope whatever you find on this site is helpful, but be cautioned that it may not apply to your own situation, or be totally current at any given time. Idea Cafe Inc. and all of its current and past experts, sponsors, advertisers, agents, contractors and advisors disclaim all warranties with regard to anything found anywhere on this family of websites, quoted from, or sent from Idea Cafe. and its related sites, publications and companies. We also take no responsibility for comments published by others on these pages.
TRADEMARKS: The following are Registered Trademarks or Servicemarks of DevStart, Inc.: Idea Cafe®, Online Coffee Break®, The Small Business Gathering Place®, Take out Info®, Biz Bar & Grill®, Complaint-O-Meter®, A Fun Approach to Serious Business, CyberSchmooz, and BizCafe.