What is B2B marketing?
B2B = business to business. Put simply B2B marketing consists of the strategies businesses use to sell to other businesses. Whether it be for a product or a service, B2B marketing is designed to generate demand, get other businesses interested, and sell and drive growth. Thankfully, there are a variety of B2B marketing tools to help you get it done.
How does B2B marketing work?
Usually, B2B marketing campaigns are structured in a tiered funnel of 3 levels.
- The top part of the funnel is the widest and is focused on attracting potential buyers. This is where a specific technique is applied to get the right leads and amplified to grow your business’ visibility in the market.
- The next section of the funnel narrows down to building engagement. This is where your business starts to directly communicate and educate those who are interested. Building strong relationships and healthy connections is vital. It’s important to take your time and not rush it, because most people don’t want to be forced into a sale
- The final level of the funnel is the decision phase. This is where the business decides if the purchase is what it wants or not. As a business running a B2B marketing strategy, it’s crucial that a journey to a B2B purchase is because a business is looking for a way to solve a problem, and you can be the one who offers it. So, you need to figure out how to be there, at the right place and at the right time to make it as easy as possible for other businesses to know what to do when they are ready to do it.
Most times a journey to a B2B purchase is because a business is looking for a way to solve a problem, and you can be the one who offers it. So being there, at the right place and at the right time, is what you need to figure out.
How do B2B digital marketing techniques differ from B2C?
Creating a strategy to encourage consumers to buy is known as B2C, or business to consumer. This is different because you’re working to make one person, your consumer, buy rather than an entire business. Comparing the two, there is a lot more input from people involved in B2B deals than B2C deals.
There are two aspects to marketing in both B2B and B2C: the strategy, which is the overall plan in place, the tactics, and the tools that help the strategy happen. Both need to work together simultaneously in order to make an impact.
10 tips to develop a targeted B2B online marketing strategy
Now with a clear understanding of B2B, let’s break down how the best B2B marketing campaigns are built.
1. Research is where you need to begin
Conducting research on the marketplace, the buyer journey, and the ideal customers, along with what your business has previously done well or not as well, will give you insight into how to make informed decisions and move forward with a strong strategy.
Without understanding what’s missing in the marketplace or what problems buyers are facing, you won’t know how to differentiate your strategy from the competition. By undergoing research, you’ll know your B2B clients better and what marketplace they’re in which in turn will help you serve them better.
2. Have a clear specialisation
Pick a niche and stick to it. Focusing on a specific industry, topic, or space makes your marketing more effective. Why? Because when you know what you do well, why you do it, and how you’re different. You can show your ideal customers the exact reasons why they should choose you. If you’re the best at what you do, why would anyone say no?
3. Position your business
Once you know your speciality, then you must have a clear understanding of who your competitors are, what unique value you would be offering, and what your current position is. If you have an ideal position you want to reach, what steps do you need to take to get there? If you see a particular opportunity in the market, how can your business solve it?
4. Define your customer
Knowing your niche helps you to position your offering. It’s important to plan out what kind of business you are working to appeal to. You can do this by creating a “buyer persona” or an “ideal customer profile” which outlines the preferences and circumstances of a certain target audience. This helps you see how your product or service can meet their specific needs.
You can look into:
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- Demographics
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- Psychographics
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- Behaviour patterns
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- Pain points
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- Buying motivations
By understanding their lifestyle, interests, and challenges, you can tailor your messaging to resonate with your ideal B2B clients, making more of an impact.
5. Set your B2B marketing goals
To achieve success, it’s essential to set clear goals. One effective approach is using the SMART method, which measures your goals based on whether they are Specific, Measurable, Achievable, Relevant, and Time-bound.
Instead of setting vague goals like ‘grow followers,’ a SMART goal would be more detailed, such as ‘Grow Instagram page (relevant and achievable) by 10 followers (measurable) per week (specific) over the next 3 months (time-bound).’ This approach makes your goal clear and actionable whilst also fulfilling the SMART acronym.
Goals help your business stay on track towards where you want to go, and while they may need improvement as you test out different tactics, the collection of previous goals can direct you towards where you can go next.
6. Have a strong online presence
For customers to find your business, you need a strong online presence. The most important place to start with is your website, which should be easy to navigate and showcase your expertise. The content should clearly explain how your product or service adds value and stands out from competitors while demonstrating your credibility.
A great way to increase visibility is to use search engine optimisation (SEO) to improve your ranking and drive more traffic to your site. There are two types of it:
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- On-site SEO: Consists of targeted keywords that are either short or long form phrases that your business can rank for and therefore, populate higher on search engines.
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- Off-site SEO: Consists of outside engagement like links or publications from other sites that drive users to your site.
Additionally, make sure you have a well-designed website that can attract B2B clients and make a lasting impression. Your site should be user-friendly on both mobile and desktop to ensure users have a good experience, regardless of how they find you.
7. Choose your B2B marketing channels
There are so many different ways you can market; picking the right one is the hardest part. Some channels are better than others depending on your target audience and what appeals to them. To pick the right channel, research and analyse who your buyers are, where they source information, what channels they use, where your competitors are currently targeting them, and how you can stand out.
With an understanding of where your target audience sits, it will be easier to know which form of media or which marketing channel would suit your business best.
Pick 1-3 different channels that really suit your target audience and try mixing them depending on the content type – tutorial video on YouTube, humour reel on TikTok, educational content in emails, etc.
Below are some of the channels or marketing options you can consider:
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- Content Marketing: Relevant content through videos, podcasts, or blogs.
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- Email Marketing: Branded emails that are filled with information about your business, but try to make them more fun and engaging and not too “spammy.”
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- Product Marketing: User guides, infographics or webinars about how your product or service is used.
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- Paid Search: Paying a search engine, like Google or Bing, to display your ad next to specific keywords when someone in your target audience searches for them.
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- Campaign Marketing: Choosing an overarching theme that can be memorable in a series of campaigns.
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- Partner Marketing: Working with another company who already has a connection with your ideal target audience, so you can promote your business through their channels.
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- Social Media: Engage with your audience directly through content on Meta (Facebook and Instagram), X (Twitter), LinkedIn, Snapchat, Pinterest, YouTube, and more. Each platform has its own features that may appeal to different consumers.
- Referral Marketing: Asking those who are already loyal to your brand to refer others, in return for some sort of incentive.
8. Set up your framework and tactics
Having a framework of how everything will work together is needed for success. Create a B2B Marketing Plan document that can serve as a reference outlining the strategy and tactics, and why you’re using them. Include key objectives and challenges, and map out the flow from the first point of contact to conversion. Lay out the budget and share it with the sales team to confirm there is consistent messaging. Your framework document should be clear enough for anyone to understand.
9. Create the content and test it!
Now the fun begins! Start brainstorming ideas, finalising campaign plans, and creating your marketing content. Focus on building awareness and staying consistent. It’s key to create two types of content: quick, attention-grabbing content to boost brand awareness, and evergreen content that can be shared later to demonstrate your expertise. Start posting and see how it performs.
10. Analyse your performance
After your content has been pushed out for a bit, track the analytics and metrics of its performance. If it’s doing well, expand your efforts and increase the budget. If it’s missing the mark, identify what’s not working and adjust accordingly.
Now it’s up to you to build your B2B marketing campaign
With all the tools in your back pocket, you are ready to market your business with strong B2B marketing strategies. No strategy will be the same, and that’s because you’ll keep refining and changing it as you test and analyse how it performs. But with a great team and a commitment to success, you’ve got this!
Melbourne Connect Co-working has all the tools and resources to help your business grow. If you’re searching for a place to set up shop or host weekly meetings with your team, we have a variety of flexible working arrangements available for business owners and innovators of all backgrounds. Based in the heart of Carlton, we offer convenience at our front doorsteps. Check out our spaces here.