What is B2B Marketing?

To fully understand what b2b marketing is, we need to understand marketing in general. So, let’s start there. A considerably basic definition of marketing is a process including advertising and market research, to promote an entity’s products or the services they render. Sounds pretty simple, right? Well, there is a lot that goes into marketing. If the research is done incorrectly, you could spend every last dime and fail drastically.

It is of utmost importance to find a gap in the market. If you are going to be supplying a product or service that is readily available, you need to have at least one identifiable characteristic. Something that makes what you are offering different to what is out there. If your focus is on a more cost-effective product, you need to make sure you can keep up with that promise, the last thing you want to do is get into a price war.

Market Analysis

This is the most crucial step in the entire process. Get to know your product or service, from there you need to figure out who your target market is. Your whole advertising plan will spin-off from this. The questions that you should be able to answer once you have completed your market analysis are:

Who are my competitors?

  • What makes my product stand out?
  • Who will buy my product or use my services? (this question will be further broken down when it comes to your advertising plan)
  • How does the Public see you? (Market Research)

To know where you stand in your consumer’s eyes, you will have to present them with surveys to complete. It is hard to convince someone to spend their precious time answering seemingly unnecessary and sometimes invasive questions. So, be creative and turn it into a lucky draw or any competition to make them want to answer openly and honestly.

Advertising Plan

If you have set up a well thought out survey and completed a thorough analysis of the market, your advertising plan should be a breeze. You should be able to answer questions like:

Who is my target audience?

  • What are their demographics? (age, gender, marital status, income bracket, location etc.)
  • How will my advert reach them and leave my product or service resonating in their minds?

Ok, so, what is B2B Marketing?

All of the topics mentioned above fall under marketing, along with many more elements. It will take a well-organised team to set up a marketing and advertising plan. Business to business marketing is the same as any other marketing, except your target market is another business. Whether you are offering them a product or service that they can use within their organisation, resell your products, or even use them in their offerings, these organisations are your target. The way you market and advertise to a business or organisation is quite different from the way you sell to an individual. Keep that in mind, when setting up your b2b marketing plan.