In many ways, B2B marketing and telemarketing are similar. However, their nuances make each distinct from the other. Both involve identifying customers, establishing a relationship, and working to close a sale or bring an account to completion. B2B marketing involves more detailed interaction than does online marketing, but can be highly effective in certain circumstances. Understanding the subtleties of this lucrative but complex industry is critical to growing a successful business.
Unlike most forms of direct marketing, b2b marketing takes into account a target audience rather than a specific product. This means it can appeal to a broader range of business customers, as well as build strong ties to existing ones. Typically, this type of marketing occurs between established lines of communication or established customers and new ones. This usually happens when:
Telemarketing often occurs between and within existing client and brand associations. A good example is b2c marketing through referral programs. Companies that provide referral services for other companies (referrals are often free in exchange for information) can attract new customers by offering a special discount to clients who refer others. Businesses that run b2c programs can further enhance the value of the referral program by including relevant information about the company and its partners. This can include helpful information on products or services, contact information, and promotional items that the referrals can use. Many telesales companies also offer tools to track the results of the program, such as conversion rates.
Internet marketing can be a highly effective b2b marketing strategy. Companies can create websites that include information about their company, services, products, and even discounts. In some cases, companies choose to incorporate video into their websites. These internet marketing strategies can be highly effective, especially when used in conjunction with other tactics, such as direct mail and telephone inquiries. Internet marketing strategies have also been used to spread the word about social media sites.
Some marketers prefer to use traditional advertising methods in addition to using b2b marketing strategies. These include traditional direct marketing, such as handing out flyers and sending out brochures to businesses in the neighborhood. This type of traditional advertising is often effective, but many marketers think it may not reach the target audience they want to target. Because a great deal of a business audience is located within a certain geographic area, this method may not reach the audience interested in the service or product.
Another way to use a b2b marketing strategy is by hosting an event. Many businesses host events that feature entertainment, cooking demonstrations, and various giveaways. For marketers who want to increase their exposure and attract a specific type of consumer, hosting an event can be a very effective marketing strategy. For example, if a business offers cooking demonstrations at a local catering company’s annual class, more people may attend than if the same company held an event for general consumers.
Many businesses choose to partner with larger companies that have a hub in a specific area. A number of these companies are quite large, and many of them have local hubs. The local hubspot allows businesses to gain access to a broader demographic and geographic area. Because most of these local companies have a large presence in one area, the businesses are able to gain a foothold and become part of the target market. The advantages of partnering with larger companies include a chance for larger profits. When a business grows in size, it usually reinvests some of its profits into additional marketing efforts, which increases the chances of a company making more money in the future.
A final way to use b2b marketing strategies is to combine the efforts of two or more companies to create an event. A “grand opening” for a business could be combined with a “product launch” for another company in order to create an even greater opportunity for exposure. The event can also serve as an opportunity for the audience that attends the opening or launch of a business to become more familiar with the product or company.