B2B-Business to Business Marketing is the task of developing customer relationships for the advantage of both Customer and Supplier with regard to their respective skills and technologies. Roughly, B2B is the technique, used by the companies to sell their products and services to other businesses.
Two-Thirds of the Global Marketing involves B2B with the remaining One Third being the B2C approach. The use of B2B Marketing is widely influential on the type of Product that one sells. For example, it is efficient to sell a product such as Steel which has no practical use for consumers, through B2B Marketing. B2B marketing is mostly done by conducting Seminars and Trade Shows. However, with a mutating technology, it is possible to market the product online by getting it Sponsoring online by paying a lump sum. Social Media Network is yet another platform where B2B marketing is effectively held.
The foretold types of marketing generate Leads. The process of developing Lead is known as Lead Generation. The term Lead Generation is the consumer interest in the products or services of a business. People who show their interest to purchase a product within a short time-frame is an effective Lead Generation. Here the time elapsed is minimal and the business is secured successfully as well. Before we head to the Lead Generation, here is a quick overview of the best B2B Marketing Brands. IBM is one such brand/company that used an effective method for B2B marketing. With a motto such as “Go Big or Go Home”, IBM secured a huge leap in sales, consequently conquering the Social Media for the sake of marketing.
The conventional lead generation methodology is a bit tiresome as setting up Trade Shows and Seminars costs a fortune and in return there is no such guarantee for a packed crowd. However, it is the Trade Shows that contribute maximum lead generation. The Internet can be used for generating leads as well. The capital investment in online marketing is comparatively less compared to Seminars.
How does this Online Marketing work, after all? The first and basic step to do is to create a company portal where the products and services should be shown with catchy phrase titles. This increases the chances of finding random people online to purchase the product. Secondly, writing and promoting Blogs which highlight the pros of choosing the services. The written blogs should be crisp and to the point. The third effective Lead Generation method is that of the Electronic Newsletter.
The method involves writing and mailing the consumers the features of the services that you are willing to sell. It is required to hide the price as the consumer might get confused whether or not to buy the product for the given amount. Hence it is required to provide all the relevant information to get the consumer reach you for more details.
Now that we have glimpsed through the Most Effective Methods, here is an insight into the Least Effective ones. This is where one realizes the truth behind the Lead generation. Facebook, the biggest Social networking platform is actually the least reliable method for generating leads. The main reason is that Facebook is an informal networking platform. People online won’t show much interest in products.
So it is required to link the company’s website to the Facebook so that would get the consumer to get in touch if they are interested to purchase a product. Facebook is where one should share the written Blogs so as to promote it. Secondly, we have Twitter. Similar to Facebook, Twitter doesn’t generate many leads as well. However it is possible for Twitter to get better stats in the future but, at the moment it is better to stay away from Twitter for B2B Marketing. Out of all the Social Networking Platforms, LinkedIn show more leads. But compared to other methods like Blogging and Seminars, LinkedIn is still ranked below. So if a seller is drawn to use Social Media for Marketing, it should be that of the LinkedIn.
With the majority of the Marketing techniques discussed, here is how a company should adopt an effective B2B Marketing.
1) CREATING A COMPANY WEBSITE
Once that is done, the address should be shared with all the Social Media Platforms so that the website could get a targeted amount of visits.
2) DEVISING A GROUP OF PEOPLE SO AS TO HANDLE EMAIL MARKETING
The Email Marketing should have a definite amount of target; the marketing should not be withheld till the target is reached, even if the company shows a leap in lead generation before the target is reached.
Getting in touch with Advertising agencies to sort out economic as well as efficient Ads for TVs and other media.
4) TRADE SHOWS and SEMINARS
It is preferred to start Campaigning the product through Trade Shows only if the desired amount of Lead Generation is reached. This is because of the high capital investment on convening a Trade Show. However, it is the most effective method for Lead Generation.
5) HOSTING GIVE AWAY CONTESTS
This is where the use of Social Media comes in handy. Once you have reached a considerable amount of Sales, it is important to keep the consistency. For this, give away contests are to be held. Here the products are given for free to the person who shares and markets the product on his friend list.
This is a cliché but effective method for lead generation. In addition to the use of Social Media, companies are required to create an eBook and distribute it for free so that you could gain more person involved in the sales. The biggest advantage is that you will get an Email id in exchange, henceforth increasing the lead. It is important for the product to be shared digitally so that you could get the Email id easily.