Archive for

Business to Business Marketing – Its Differences in Strategy

Business to business and business to consumer marketing types have essentially the same fundamental principles. Both choose target markets and based from them, they make their marketing decisions, such as in coming up with prices of their service or good and selecting the type of distribution and promotion they would employ.

However, in the way the issues are addressed, there is a clear distinction. The nature of business buying is largely dependent on the professional buyers, multiple decision makers, and the potential of having long term relationships. This is unlike the business to consumer marketing, which depends on the single decision maker and has a short buying or sales cycle.

The business to business marketing generally focuses on functionality of the product rather than on anything else. It also has the capacity and resources to buy from the international markets.

The marketing does not focus on the emotional but rather on the logical decision making. If the business has to deal with a business that sells business, it if often that the business buyer has more knowledge about the product or service that it is looking for than the business marketing provider.

It is for this reason why the marketers must be wise and intelligent enough as to how to market, promote, and advertise their goods or services. Business to business marketing employs wider and more complex tactics. Anyone who wishes to utilize it must be patient and determined to learn the length of the ropes as there are many things to be learned about before one can actually use the methods involved in such.

They are appealing to a wider, more intelligent buyer group after all. Anything that the business to business marketer does will have to be based on what that intelligent target group wants, but does not also necessarily mean forgetting the end-users, which for this case, are the buying public or consumers.

You have to remember that the business buyer is buying your service or good because they believe that it will sustain their business, help improve its sales and profits by having wide consumer group patronizing it, and turn in more benefits for them.

What are the strategy differences?

In business to business marketing, the supply and demand made on a certain product or service is taken into account. The same is true in the kind of industry that the marketer is trying to sell the business for. Others to be considered are the trends in the wider market environment. It also has to deal not only with the direct business clients but their customers as well.

Business marketing targets comparably smaller base of clients, but these are the big clients in the industry. And because it is dealing with bigger clientele, it is expected that personalized marketing techniques are provided, so that the business buyer will no longer have to employ different techniques in order to sell the product or service.

And since the clients differ in their preferences, the business marketer might be required to tailor technique to each. And because of this, deeper relationship with each is expected to be developed between business to business provider and business buyer to meet the demands of each big client as well as to foster longevity in the industry.

Business to Business Versus Business to Consumer Marketing

The process of improving business and increasing sales via any distinct strategic plan is called marketing. The two types of marketing include business to business and business to consumer marketing. Although both employ the same initial steps and other marketing programs, there are some basic differences between the two.

The first distinction is the way they sell their products or services. In business to consumer, the marketer sells to the consumers, who are the end-users. While in business to business, the marketer sells the commodities to organizations or companies, such as to a business dealer so that they can sell the commodities as well and turn in profits.

Unlike the consumer marketing, the promotion in business marketing does not involve any media advertisements. Instead, it uses magazines, business newspapers, and direct mails to concerned buyer companies or organizations.

Through the years, it was known that business to business marketing has always been behind the operation of business to consumer companies. But as the years wore on and advancement on technological aspect has been seen, it has been reaping popularity because of the intensified growth.

What are the factors behind this fact?

First is the technological revolution. Black and white, the technology has taken a significant leap in terms of advancement allowing business organizations to come closer to it. The growth of business to business concept can be linked with the advancement of technologically as what was seen in the employment of websites and similar tools to improve business sales and operation.

The second is the entrepreneurship revolution. Nowadays, more and more businesses are putting their hands in different business promotion tactics. Because of this, a tremendous increase is seen in the competitive aspect of the industry. It is now a fact that competitors are becoming more innovative and aggressive in their business activities, anything that will perfect the improvement of their company or organization.

There is also the third factor, the market revolution. The significant increase in demand has to be taken into account in the market revolution. Consumers are becoming impatient with as far as supply is provided, so businesses have to discover more innovative and practical ways to meet this in the best and quickest possible ways. Thus, a change happened in the entire business marketing nature.

The fourth is the internet, probably the biggest factor to be considered in the development of business promotions. The internet played a significant role in binding the power forces and is responsible in joint ventures between huge industries and companies together. More and more businesses are reaching out to other businesses with the realization that both would gain bigger profit if they work together.

The Main Objective

The business to business marketing aims to boost the shareholder value it holds in the market. So, while it is not aggressive when it comes to promotion, it is when in terms of branding of the services or products. It doesn’t have to reach the consumer end users, but its role in developing the business and giving it firm position in the industry relies heavily on the reputation it makes by having a superior product or service branding.

Local Business Internet Marketing: Reasons Why It Is Important

A study done by BIA/Kelsey and ConStat shows that 97% of consumers use the Internet in researching for the availability of products and services they need. With these statistics, it will be safer to say that these days, there can be no better way to target prospective customers than local business Internet marketing. Also factor in the fact that most mobiles coming out of the market are now outfitted with Internet facilities, making location-based searches more and more popular.

Take advantage of these location-based searches by using location-based marketing, which involves marketing messages and propositions that are tailored to your business location and to the preferences of your prospective customers. Here are the reasons why this kind of Internet marketing is vital for local businesses:

1. It helps build and improve customer loyalty.

For urgent and emergency needs, the customers are usually saved by the local stores. Because they can be relied on in times of needs, customers usually become loyal to these stores. On the other hand, local businesses also develop that feeling of being established to help address customers’ problems. Through local business Internet marketing, brand recognition is improved as well.

2. It provides local businesses with repeat customers.

Online marketing strategies are not designed to drive one-time traffic-they are aimed to deliver constant traffic and repeated sales. Affiliate marketing programs, for example, won’t be stopped once they drive a certain number of customers. Advertisers will rather improve their ads to gain more commissions from the sales of your products. Unlike advertising in traditional media, wherein once you stopped paying for your ads, they will no longer be played or published, your Internet marketing programs and tools will work even if you fail to monitor or update them regularly. That’s the best thing about Internet marketing-all your hard work will have lasting impacts.

3. It makes your business available to everyone ’round the clock.

Your website is up 24/7, so even with your brick-and-mortar store closed, your business is still available to potential customers. They can do their research about your products at their most convenient time, which is usually at night, so when they visit your local store, they already know what to look for and what to expect. You can maximize your earnings by allowing your business to operate online. This is easier said than done, but it is very feasible.

What you have to do first is to convert your existing site into an e-commerce site. It should have an online catalog, as well as order and payment forms and procedures. To drive more and more traffic, you should try all possible local business Internet marketing techniques. By running an online store aside from your brick-and-mortar one, you can continue earning money without asking your staff to work for extended hours; you also need not worry about their overtime pay.