What is B2B Marketing, what makes it different and how does it even work?
For newcomers, the jargon and technical side of marketing can seem quite daunting. However, the basic principles behind B2B marketing are quite simple and easy to understand.
In this short guide, we take a look at the most important principles you should know to have a basic understanding of B2B marketing. But before we dive in, let’s take a look at some of the jargon:
Basic Language or Jargon in B2B Marketing
Here’s what you should know in terms of the lingo in B2B marketing:
Website page with a singular objective that online users get so see after clicking through an advert or link in your content.
Anything you create or share is known as content, from videos and blogs to podcasts and photos.
Search engine optimization is a process in which you design content for the purpose of ranking high in search engine results.
These are the words that you will place throughout content to improve your SEO (here’s a great guide on how to do it!).
Influencer marketing is immense and this refers to individuals in your niche that can help promote or endorse your business.
A call to action is a prompt for online users to take some kind of action such as signing up for a newsletter or requesting the pricing on a service.
Conversions happen when an online user makes a purchase or answers your CTA.
Customer rate optimization is when you use certain data to increase conversions. In fact, data driven marketing is widely regarded as the most effective way to create a strategy.
This is a metaphor which outlines the customer journey from the point of discovery to the point of sale.
Pay per click advertising is when you pay a designated amount for the specific number of clicks that your advert received from online users.
Now, here’s the basic principles that you should know about B2B marketing:
Some Basic Principles of B2B Marketing that You Should Actually Know
Understanding the Difference Between B2C and B2B Marketing
Business to consumer (B2C) marketing moves a lot faster than business to business marketing.
But what’s the difference between these two?
Answer: The buyer.
You see, B2C buyers need to think long and hard about their investment. After all, these purchases are not merely spontaneous and most often involve a significant amount of money. You will also find a lot more people involved in this decision which is obviously a lot more complicated than an individual buying some shoes. In other words, B2B marketing requires a different strategy and a subtle approach that will ease and encourage the buyer slowly toward a purchase.
Establishing a Community Around the Brand
As a marketer, your very first task is to establish the brand as an authority. In other words, you cannot expect consumers to trust the brand and familiarity must be nurtured in this respect.
In terms of the process, you can do this in many ways and social media is especially useful. For example, an attentive brand on Facebook or Instagram will create a sense of community.
Creating Content that Consumers Will Actually Need
Remember, content is great but the best content will always provide a specific value to the user.
With this in mind, an active blog or vlog can provide insights about your brand or industry and valuable information to potential consumers. Whether you use videos, podcasts or articles, this content should be carefully constructed and optimized for the search engines using SEO.
Just so you know, most marketers work on an 80/20 rule in which they focus 80% of their time on creating useful information that can solve problems. And the rest? 20% promotion.
PPC Advertising and Nurturing the Conversation
Many forms of B2B marketing are free but the truth is, variety is often the key to a strategy.
In other words, you should create content and utilize free resources at every turn but pay-per-click advertising is also effective. For example, you can engage other businesses through PPC by inviting them to “get to know” your business. When these businesses click on such adverts, they are then taken to a landing page on which a micro conversation will ensue.
In case you might be asking yourself, a micro conversation can be “soft” which essentially means that your prospective client is showing some light interest. For instance, per Healthcare Weekly, healthcare marketing will often invite potential clients to watch an introduction video for a specific business or product.
Converting Prospects into Long Term Customers
When you create and publish any kind of content, there should always be a CTA at the end. After all, your purpose is to help these potential customers and there should be some form of offer on the table. With this in mind, you might offer a free quote, advice or consultation to the reader.
Keep in mind, conversions can happen in many ways and you can also reach out to businesses instead of waiting for them to come to you.
Creating and Rewarding Loyalty with Your Following
At the same time, one-time buyers are nowhere near as powerful as evangelists. That is to say, you can create a sense of loyalty, you will not only have repeat buyers but also people who talk fondly about your business. What’s more, rewarding these customers will strengthen the bond and build a solid foundation on which the brand can grow and prosper in the future.
Measuring Your CTA and Making Improvements
You must measure success when it comes to any form of B2B marketing and many tools or platforms can be used in this regard (or work with an agency that can help you do that – here’s a great list). For example, Facebook allows marketer to count the number of shares and likes on posts in order to calculate the return on investment. Similarly, tools like Social Warfare enables you to find how many customers are actually reading or sharing your web pages.
It’s true, you need to measure the success of your B2B marketing strategy and make changes in order to achieve the desired results (here’s a great guide on how to do just that). However, knowing the basic principles behind B2B marketing is essential for getting results in the first place, while taking action and experience will take care of the rest.