Business Marketing

Business Marketing

Business marketing is a marketing practice of individuals or organizations (including commercial businesses, governments and institutions). It allows them to sell products or services to other companies or organizations that resell them, use them in their products or services or use them to support their works.

Strategies

Product (or service)

Due to the fact that business customers are focused on creating shareholder value for themselves, the cost-saving or revenue-producing benefits of products and services are important to factor in throughout the product development and marketing cycles.

Pricing

The business market can be convinced to pay premium prices more often than the consumer market if you know how to structure your pricing and payment terms well. This pricing premium is particularly achievable if you support it with a strong brand.

Promotion

Promotion planning is relatively easy when you know the decision making habits of your customer base and what they are looking for, not to mention the vocabulary unique to their segment.

Sales and distribution

The importance of a knowledgeable, experienced and effective direct (inside or outside) sales force is often critical in the business market. If you sell through distribution channels also, the number and type of sales forces can vary tremendously and your success as a marketer is highly dependent on their success.

Communications methodologies

The purpose of B2B marketing communications is to support the organizations' sales effort and improve company profitability. B2B marketing communications tactics generally include advertising, public relations, direct mail, trade show support, sales collateral, branding, and interactive services such as website design and search engine optimization.

Positioning statement

An important first step in business to business marketing is the development of your positioning statement. This is a statement of what you do and how you do it differently, as well as how it will be better and more efficient than your competitors.

Online marketing

The internet has transformed business marketing. No matter what you do, the internet is likely to be at the heart of your marketing strategy.

There has, of course, been a rapid rise in the number of ecommerce enterprises selling goods online. Some operate solely in the online sphere. Many others are bricks and mortar businesses that are also offering products and services via their websites.

But many other business models are using the internet to promote their business via websites, blogs, email, social media sites like Twitter and networking sites like LinkedIn. What's more, internet marketing enables you to carry out marketing activities that range from market research to improving customer service.

Ecommerce

Ecommerce offers many advantages over traditional business models - not least lower overheads and the opportunity to reach wider audiences. You can also improve customer service by allowing customers to make purchases directly from your website.

Promoting your company online

Your website is no use if nobody visits it. Simple steps like choosing a memorable name, promoting your website and driving traffic to your site via email marketing campaigns and including your web address in printed marketing materials and company stationery can all help.

Email marketing

Email is a convenient and cost-effective way to tell existing and potential customers about offers, to respond to queries and provide customer support.

Social networking

Social networking sites like Facebook, Twitter and LinkedIn are crucial tools to help you reach out to your target market online. They allow you to set out your stall, demonstrate your expertise and build relationships with customers, prospects and suppliers.

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