Marketing is absolutely key to any business’ success. You can provide the best products and services in the world, but if nobody is aware they exist, or if people are aware that they exist but aren’t aware of why they’re better than alternatives, you’re not going to make all too many sales. Sure, marketing may require financial investment. But it can prove more than worth it if you get it right.
A good marketing strategy can help sales to start pouring in, generating the profit that your business is looking for. Now, there’s a lot of advice out there on marketing for B2C businesses, but B2B businesses often struggle to find help and guidance in this area. We spoke with Tiga, a B2B marketing agency, who have assembled 5 considerations that B2B businesses should keep in mind to curate the best marketing strategies possible!
1. Understand Your Company’s Aims and Goals
The first step that you should take is thoroughly understanding what your company is trying to achieve. Talking to members of your sales team can really help with this. Their targets will outline the different areas where your business is trying to make money. Are you trying to sell a set number of a specific product or product line? Which sales prove most profitable to the company? Are there any seasonal targets that your company is aiming to meet? Speaking to market researchers can help you to determine where current consumer demand lies too, helping you to cater towards it with your marketing strategy.
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2. Develop Clear Objectives That Sit In Line With Business Goals
Once you know what your business needs to thrive, it’s time to set clear objectives for your marketing strategy. These objectives will help to guide your strategy, with everything geared towards selling what needs to be sold at given points throughout the year. Having clear objectives will make sure that every decision made aligns with your objectives. Without objectives, you will find yourself making random decisions that won’t deliver the results that will drive profit. A good example is that if your conversations with sales staff and market researchers say you need to sell a set number of a specific product, you will know to market this product heavily. Without the objective, you could pick any old product to focus on and won’t achieve the same levels of success as you would with the objective.
3. Define Your Audience and Buyer Groups
Once you know what you need to do to achieve success, it’s time to start understanding your target audience and different buyer groups that may be interested in the products you’re going to push. This will help you to market to them as best possible. Some questions you might want to ask yourself include:
- Where do your target audience spend time?
- What are the main benefits that your products can provide them with?
- What social media accounts do they follow?
- Which websites or blogs do they frequent?
- Do they watch TV or listen to the radio? If so, which channels and stations?
Knowing answers to such questions can really help with marketing placement. Use the answer to these questions to build up different buyer groups, highlighting each group’s preferences and unique needs. Creating these personas will help you to better cater to and communicate with each group!
4. Choose Your Marketing Channels and Develop Suitable Communications
Knowing how to reach out to your target customers and how to effectively communicate with them will prove key to your success. So, make sure to choose your marketing channels wisely and develop suitable communications to appeal to each target group. What reaches one buyer may not reach another. What appeals to one buyer may not appeal to another. The previous step will help you to figure out what works and what doesn’t. For example, you may find that some of your buyers are more receptive to digital marketing via Facebook, Instagram and Twitter, but won’t ever see your adverts on the television. You may find that other buyer groups do see your adverts on the television, but don’t ever check in on social media.
5. Test and Refine Your Strategy
Once you’ve got everything up and running, it’s time to test and refine your strategy. This will help you to determine what works (and should be continued) and what doesn’t (and should be discontinued). The easiest and most effective way to do this is through data analysis. Trialing on an A/B model can also prove useful. This allows you to send out very similar content with slightly different tweaks (for example, different email subject lines) and see which performs better.
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