Five Things Every Business Needs To Know About B2B Marketing
“B2B”: It’s a simple acronym standing for “business to business,” and it’s the term used to describe when businesses exchange services or information with other businesses, rather than making transactions with consumers. Here are just a few basic points about B2B exchanges, and how they play an important role in your long-term marketing success:
- B2B transactions occur all over the place — any time that two businesses make any transaction or trade, it can be considered a B2B transaction. These exchanges between businesses are incredibly important because they allow for B2C (business to consumer) transactions to occur later on.
- B2B exchanges that occur online are also known by the terms “e-biz” or “e-commerce” — these signify the transfer of digital services, software, or information between businesses.
- B2B marketing is one aspect of B2B online exchanges, and it’s a bit similar to consumer marketing — with some major differences that all relate back to buying trends. Regular marketing companies promote products/services to consumers and tailor their marketing strategies depending on consumer demand, product popularity, price, etc. The tricky part about B2C marketing is that these buying factors can change very quickly; the silver lining is that marketing companies have more sway over consumers’ emotions and specific product popularity.
- B2B online marketing companies have to use different strategies because their target audiences (i.e., other businesses) decide to buy the services/information based on more predictable factors like price and potential return on investment (ROI). If a service just won’t produce a reasonable ROI, it doesn’t matter how many B2B SEO marketing and PPC marketing strategies are employed by an experienced B2B web marketing agency — the target audience just won’t go for it.
- The real key with B2B internet marketing — and the reason why B2B online marketing companies are so important — is that the marketing strategy has to be based on clients’ needs and means; a good B2B internet marketing agency will use extensive marketing analytics services in order to find out information about target clients before making any moves. This part may sound simple — but it’s a pretty detailed process and is definitely more successful when outsourced to a professional B2B agency.
Now we’re asking you for some input! Did we leave out anything important regarding B2B exchanges or how B2B online marketing is similar/different to traditional consumer marketing? Be sure to share your thoughts and questions with us!