What is B2B Marketing?
B2B Marketing or Business 2 Business Marketing is selling of services and product to one company to another. There is not much difference in marketing techniques of b2b and b2c marketing, as in b2c marketing consumer make most of their decisions based on brand image, market pricing, word of mouth, in b2b marketing decisions are only made on pricing and profit margins.
In recent market trend companies are finding new ways to encourage relationship through social media (digital marketing) to grow business between seller and buyer. As per one survey conducted by Chadwick Martin Bailey showed that businesses are more likely to buy from companies they track through social media which has opened two way communication between businesses.
There are many successful case studies for B2B social media marketing however you can learn about The Top 5 b2b case studies
B2B Marketing Strategies
Old Strategy like running an ads on Radio or Television will not help you achieve your desired figures in b2b marketing strategies, B2B marketing success comes from embedding your company in the industry, and making your product seem like a best. Get in front of niche buyers by:
- Hosting free and informational webinars.
- Join the industry trade shows, and display your company ads there.
- Create an online community and present your company like industry leaders, do not lose your connect with potential buyers. Create weekly news letters and keep a tight hold on your industry positioning.
- Make your conversations interactive on social media channels. Be active on social media always.
- Do not miss industry networking events and building buyer relationships.
How large is the B2B industry?
If you want to build your career in B2B industry it is good to ask this question and there is no harm knowing about stability and growth potential of anything.
- In year 2014, Forbes conduct one survey and shared by year 2020 Chinese B2B marketing for e-commerce will reach 6.7 trillion.
- In 2003, B2B marketers spent approximately $85 billion a year to promote their goods and services. (Business Marketing Association)
- According to a report by Forrester Research, summarized by the U.S. B2B e-commerce market will hit $780 billion by the end of 2015 and grow at a compounding rate of 7.7% annually until it reaches $1.13 trillion by 2020.
What kinds of people are effectively marketed to with B2B Marketing?
- brands who use companies products, like any builder will be marketed for steel product to build their buildings.
- Government bodies and agencies the single largest target and consumer of B2B marketing.
- institutions like school, colleges and hospitals.
It is important for B2B marketers to understand their clients’ needs before implementing any marketing or advertising technique. In B2C marketing, an effective advertisement can be blasted out over wide channels, and a percentage of consumers will be driven to buy the product. However, since B2B marketing is so much more specialized, marketers run the risk of alienating their specific prospective candidates if they do not pay close attention to their needs before tailoring their services to those needs.
Career in B2B Marketing
Given there is huge scope and now social media is playing a vital role to get growth in B2b Marketing one can learn digital marketing to build a successful career in it. There are very specific channels in digital marketing which can help you long term successful career in B2b marketing though digital marketing.
- LinkedIn is the best way to promote and reach out to potential companies to sell your goods and services. LinkedIn is the worlds largest professional network which allows you to target people based on geographies, age, location, gender, companies, and designations. You can target decision makers to reach out to more number of potential leads.
- Bayt.com is a platform similar to linkedIn and it is more relevant for middle east and gulf countries. Most of the features are same like LinkedIn.
- Email Marketing, one of the most advanced way to reach out to right set of decision makers by breaking all barriers & limitation on reaching out to direct point of contact in any businesses.
Salary Structure in B2B Marketing : You can refer to the site Source http://www.payscale.com/
Career Path flow
B2b marketing is the fastest growing market right now with stable career opportunity. Adding Digital Skills will help an individual to grow fast compare to a typical B2b marketer. Anything unclear? Please write to me at [email protected]