Benefits of B2B industrial marketing
Marketing is becoming more and more important in companies in the industrial sector, which is why its implementation opens up an enormous range of possibilities. If you have not yet considered industrial marketing actions for your company, you should know the benefits you are letting escape.
When you talk about applying marketing strategies to a business, you automatically think of the end consumer. But did you know that this type of technique can also be applied when the recipient is another company? That is, when both the seller and the buyer are companies. Therefore, the number of customers is lower, but the volume of purchase is much higher. The advantages of establishing an industrial B2B marketing strategy are many, however, not all companies know how to take advantage of industrial marketing.
Differences between B2C and B2B channels
Before getting into the matter, we must clarify the differences between B2C (Business to Consumer) and B2B (Business to Business). In the first case, the product or service reaches a final consumer who is going to make use of it. While in B2B companies acquire a product or service that will allow them to manufacture a product or provide a service to a final customer. Therefore, we can establish the following differences between the two channels:
- The first is obvious, in B2B the customer has a corporate character, that is, it is a company. In B2C the customer is a consumer.
- In B2B, customers seek to save time and money in their production process, while in B2C they seek to satisfy a need of the consumer or create that need for him to purchase an item.
- The B2B market is much smaller, although the benefits can be much greater than in B2C.
Differences between generic and industrial marketing
It is clear that the type of approach of an industrial marketing campaign must be different from that of generic marketing. If by industrial we mean the B2B channel, we can say that the strategy in this channel has to have a practical sense, while the B2C uses more the sensations and emotions of the consumer.
The reason for this is that companies value saving time, resources and money much more than product qualities. A clear example of generic marketing is the project carried out for Estalvi Termic. In it we work the corporate identity spreading the values of the company, bearing in mind that we address a final consumer (neighboring communities, schools, homes).
On the other hand, the action plan for eQgest is more oriented towards contacting other companies. The reason is that the product is a management software for certain sectors. Therefore, the proposal is to reinforce its branding (both online and offline) and bet on a relational marketing in which events and fairs are also present. This is because the customer for whom this product is intended is more accessible in these scenarios.
Also, the segmentation is different. While in B2C it is segmented by age, sex, language, in B2B it is segmented by type of sector, size of company, etc.
Similarly, communication strategies differ. In B2B, the same channels can be used as in consumer marketing (social networks or email marketing). However, strategies aimed at trade fairs, specialist magazines or events will be more effective.
Therefore, we can define industrial marketing or B2B marketing as those strategies that will help to obtain a greater profit in your business. But the recipient of products or services are other companies in the industrial sector. Want to know other benefits of incorporating this type of marketing to your business?
Advantages of B2B marketing
Attract new customers interested in your product or service
Business to Consumer marketing strategies are aimed at attracting new customers. One strategy that is often used is content marketing. The aim is for other professionals to find your company and see the added value of your products. And if you already give the opportunity to subscribe to a newsletter, you will get new leads or prospects.
Greater benefits for the company
It is a logical consequence of the previous point. If you attract new customers, there will be new sales and, therefore, more income in your business.
The development of a B2B marketing strategy makes it easier for your company to adapt more quickly to the continuous changes in the market and in your own company.
Don't forget that the Internet is a window to other countries. It offers you the possibility to open your business to other markets.
A good planning will allow you to have a better control and optimization of both spending and resources available to you.
Many companies don't consider B2B marketing actions, because they still haven't understood the key importance of having a defined marketing strategy, so this can give you a clear advantage over the competition, don't you think?
How to communicate and sell when we talk about such technical products?
As you can see, marketing strategies adapted to this market between companies provide great benefits for your business. However, you have to bear in mind that you are targeting a specialised sector and you should not follow the traditional sales method.
If you want to sell products or technical services you should not focus so much on that the design is novel, but on the savings that will mean to that company to acquire your product. The main interest of a company is not to get the most out of the product you sell, but you will solve a problem: if you use your product, your customer will spend less time in production, will have an economic savings or no longer have to use other products to complete the manufacture of an article.
In short, if you want to be successful in this commercial action you must ask the customer how much his problem is costing him, not doing anything to solve it and how much he is not earning by not using your product. Precisely, that cost will be the one that drives or causes that company to acquire your product.
At BCM Marketing we help you develop a strategic plan that will increase your sales. Do you want us to study your case?