Does your business market its products or services to other companies? Or might it start doing so in the future? If so, it is critical to recognize the key differences between marketing to the public — or even certain segments of the public — and business-to-business (B2B) marketing.
Whereas wide-scale marketing campaigns generally need to be simple, concise, and catchy, effective B2B campaigns are typically more detailed, complex, and substantive. Here are three critical points to keep in mind:
- Solve their problems. You are not selling a product or service; you are selling a solution. For example, a company selling aspirin is offering to solve the problem of anyone with a headache. But in B2B marketing, you want to show how your product or service can help a company cure the cause of that headache, not just the symptom.
Think of it from your own perspective. When other companies try to sell to you, you are not going to pay for anything without an acceptable return on investment. Tell the businesses you are marketing to precisely how your product or service will solve problems in areas such as productivity, quality, time, and costs. Better yet, show them with real-world examples and testimonials.
- Provide plenty of specifics. When marketing to the public, an abundance of detail can confuse or bore buyers. In B2B marketing, specifics are often what close the deal. Every industry faces myriad challenges that encompass a wide array of technical, technological, and regulatory details. Speak their language. Make it clear you understand what they are up against.
And give yourself plenty of room to do so. Whereas a traditional sales letter or pamphlet sent to an individual is usually best kept short and colorful, B2B marketing materials can be longer and more detailed. Apply the same principle to social media: posts directed at other companies can go to greater lengths as long as they include current and cogent points.
- Get to know the people involved. If you tried to get to know every person included in a mass marketing campaign, you would never get anywhere and probably go out of business. In B2B campaigns, however, specific people — that is, those who make the buying decisions at your targeted accounts — mean everything.
In fact, under an approach called account-based marketing, a company directs its B2B marketing efforts directly at the individual or set of individuals at each targeted account (or certain high-valued accounts). It is the ‘personal approach’ taken by your sales and marketing staff working together to get to know and appeal to the sensibilities and personalities of the people representing the companies that buy from you.
Obviously, any B2B marketing effort will need to go beyond these three points. Nonetheless, they should form a solid foundation in this often-tricky area. Our firm can help you assess the financial impact of your marketing efforts, B2B and otherwise, and develop strategies for the future.