Rather than speaking to a consumer's desire to get something new, fun or convenient, B2B companies face the challenge of convincing company decision-makers that their products or services will yield a return on investment. That means less emphasis on social networks, brand awareness and the overall customer journey.
Instead, the focus should be building relationships with other businesses and highlighting overall ROI. For some B2B companies, such as digital marketing firms that specialize in content creation and social media management, this can be a tough sell. This type of work doesn't produce immediate results, so making the sale requires educating potential customers. That's where a knowledgeable sales team comes in.
The key to B2B marketing is demonstrating value to a business's bottom line. If your solution streamlines processes, focus on the efficiencies your potential customers could gain. If your services increase traffic to a website or boost conversion rates, highlight the potential for added revenue.
In business, it all comes back to profitability: If you can make the case that your products or services will enhance the bottom line, landing the sale becomes much easier. To improve your B2B marketing campaigns , here are some things you should keep in mind when interacting with other businesses:. Tip: The emphasis in B2B marketing communication should be building relationships, not extending your brand voice by leveraging social networks. The rise of B2B e-commerce solutions has redefined the relationship between businesses and suppliers.
A product of the digital revolution, these businesses sell products directly to other companies using e-commerce platforms, while also sharing data and updates for products or services.
There are many types of B2B e-commerce companies, but three of the most common are web development, supply and procurement exchanges, and infomediaries. Every business needs a website, but few business owners have the time or skill set to build an optimized site from scratch. Web development companies and, more generally, digital marketers are B2B services that handle the creation and maintenance of company websites, plus digital advertising services like content creation and search engine optimization.
These services are indispensable in the ever-expanding digital environment that dominates the modern business landscape. Though web development companies didn't exist until a few decades ago, they've become essential partners for any business ready to get off the ground. Otherwise known as e-procurement sites, these companies serve a variety of industries and often focus on a niche market. A company purchasing agent can shop for supplies from vendors, request proposals and even make bids for purchases at specific prices.
These B2B websites enable the exchange of product supplies and procurement. Specialized or vertical industry portals provide a subweb of information for a specific industry or vertical, such as healthcare, construction or education.
These sites provide product listings, discussion groups and other features. Vertical portal sites have a broader purpose than procurement sites, though they may also support purchasing. Brokering sites fulfill companies' supply and procurement needs in another way. These sites act as intermediaries between service providers and potential business customers. For example, a construction company may need to lease equipment.
A broker site can help the construction company find an equipment lease from a manufacturer. There are also information sites, or infomediaries, that provide specialized information on specific industries for companies and their employees.
These specialized search sites can include trade and industry standards organizations' sites. Did You Know: Though B2B services are critical to the success of many industries, when considering your company's potential, do not limit yourself to one model.
The book-publishing industry is a good example. Authors market their manuscripts to book publishers. Both the author and the book publisher are in a B2B relationship. The publisher prints and markets the books to booksellers, both online and in retail stores. This relationship is B2B as well. However, the bookstores sell to the final consumer and are in a B2C relationship.
Another example is food. Food products are marketed to consumers but are sold by grocery stores. Both the manufacturer of the food product and the store target their promotions to the final consumer.
Different marketing tactics are used in B2B and B2C, although the methods of advertising, promotions and publicity are the same. If the final customer is a business, it won't help increase sales by advertising in consumer magazines or the general media, such as television and radio. Marketing is done through avenues that the business customer will use. For example, industry publications, business magazines, trade shows and tech shows would be more appropriate.
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Personal Finance. Your Practice. Popular Courses. Key Takeaways Business-to-business B2B is a transaction or business conducted between one business and another, such as a wholesaler and retailer. B2B transactions tend to happen in the supply chain, where one company will purchase raw materials from another to be used in the manufacturing process. B2B transactions are also commonplace for auto industry companies, as well as property management, housekeeping, and industrial cleanup companies.
Meanwhile, business-to-consumer transactions B2C are those made between a company and individual consumers. Compare Accounts. The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace. Related Terms What Is Disintermediation?
Disintermediation is the removal of a middleman in the supply chain to allow producers to sell directly to their customers. What Everyone Should Know About Vendors A vendor is a party in the supply chain that makes goods and services available to companies or consumers.
What Is Electronic Retailing E-tailing? Electronic retailing e-tailing is the sale of goods and services over the Internet, which can include B2B or B2C sales. Electronic Commerce e-commerce Ecommerce is a business model that enables the buying and selling of goods and services over the Internet.
Read about ecommerce benefits and trends. Middleman Definition An intermediary in a business or financial transaction or process chain is commonly referred to as a middleman.
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