B2C marketing is focused on mass consumer acquisition and one-off sales. B2B marketing sells complex products and services, such as machine tools or high-tech components. In these areas, marketing must be based on competence – it is essential to know your product/service 110% and demonstrate and justify its benefits to the customer.
The b2b company is not about “selling everything.” Finding and working with a few stable and solvent customers is more important- they help execute the sales plan. New customers are rare, and marketing is about retaining existing customers.
The decision maker
In the 2b2 marketing company services, a decision is made by a group of people and can take several months. First, the purchasing manager decides, then the technical director, the production director, and a few other directors. The application moves from one manager to the next and, simultaneously, is checked by the security service to ensure that there are no bribers in the company.
In B2B services, there are hardly any “quick and spontaneous buying decisions”; customers want the best possible solution to a problem. They thoroughly research what is available on the market and look into the features of a product or service before making a purchase.
Building a long-term business relationship between the seller and the customer
In b2b marketing agency, the relationship is just beginning after the first purchase. If the customer is a large factory that has purchased a shipment of digital control equipment, its management is counting on a long-term relationship. The kit has to be installed and customized. They then need to be calibrated regularly and repaired quickly. This is not done by the factory staff but by the supplier.
B2b marketing functions
B2b marketing company methods are based on the specificities of the b2b market, where several specialists make decisions with different levels of responsibility, where order volumes are high, and risk is high. Still, the number of potential customers is limited. Therefore, the decision-making process here is lengthy and complex, based mainly on rational arguments rather than emotions.
All this leads to specific differences in the marketing strategy of b2b companies:
- Brand value is not created by emotional photographs but by the quality of the products.
- The company’s efforts focus on building long-lasting, trusting relationships with partners and customers.
- The company’s reputation is a priority, supported by strict adherence to contractual terms and additional guarantees.
- After-sales and service support are also important.
- Given the limited number of potential customers, new customer-friendly cooperation principles must be developed.
- Products are presented and promoted in the industry media and trade fairs and on the company’s website.
- The strategy defines the marketing tools in the B2B market:
- Face-to-face meetings at trade fairs, mailings with helpful information, and a reputation as a market expert build trusted customer relationships.
- The new principles of cooperation require careful customer profiling and a personalized offer of terms and conditions.
- The limited number of customers means that abandoned baskets need special attention. If there are few customers, more effort must be put into each one, especially for those who have never made a purchase.
- Promotions and discounts are more effective b2b agency to increasing sales: even a small value on a large number of goods significantly impacts sales results.
- The development and improvement of digital technologies dictate new priorities in the development of wholesale business, which set trends in the online marketing strategy in the b2b market.