Business, in general, cannot be separated from the activities of production, marketing, buying, and selling. Whereas business scale can be started by micro-scale business, small scale business, medium scale business, and large scale business. The difference in every business is the scale of capital, the more the greater the business.
The purpose of every business is to produce goods or services that can be converted into profits. When starting a business, the important thing to research first is about how big the target market is. By knowing your target market you can determine the right business model and strategy for developing a bigger business.
There are two types of businesses that you need to know so that they are not wrong, namely Business to Business (B2B) and Business to Customer (B2C). Both have differences, especially the targeted target market. Now for more details, we will discuss it below.
What is B2B Meaning (B2B – Business to Business)B2B (business to business) denotes business relationships between companies and distinguishes them from other business relationships such as business relationships between companies and consumers (B2C: business to consumer). Especially in marketing and the right of withdrawal, there are clear differences between B2B and B2C.
B2B in Marketing (B2B – Business to Business)?
B2B is an extension of Business to Business which means that the business is run by selling products or services from one company to another company.
Running a B2B marketing is considered more challenging because the main target is no longer an individual business, so the strategy is different. Apart from that, in terms of the capital spent it also differs greatly, B2B businesses require large capital but the benefits to be gained are certainly also large. Trade India, India mart are the best B2B examples in Marketing.
B2B Marketing Strategies (B2B – Business to Business)?
B2B marketing occurs between business people and other businesses. B2B cannot make quick decisions like business to customer, the company needs to calculate profit and loss before making a decision. One of the well-known and powerful marketing funnels for the business market is to use Awareness, Interest, Desire, and Action (AIDA). So that you are not confused, please practice the B2B marketing strategy that we have summarized below:
Determine The Target
Before carrying out a marketing strategy, you need to determine the target first. For the target market, businesses tend to be more easily recognized, so you already have an idea of what businesses need products and services to sell.
Even though you can recognize it, you need to make a detailed and targeted list of buyer personas for your business. Identify the needs of each business in full, because it will be in vain if you do a marketing strategy that has no direction and goals so that it consumes time, energy, thoughts and business capital.
Build a Good Relationship
The B2B business transaction cycle is definitely different from B2C. Before making a decision, your customers need to carefully consider the advantages and disadvantages.
So your job as B2B marketing is to build good relationships with prospective customers and conduct in-depth education about the products or services you sell. By building good relationships the opportunity to sell is greater.
Customize Customer Needs
Corporate customers may not spend a lot of money to buy products or services that are less useful. Because this will later relate to business cash flow, so before selling goods or services you need to research in advance about business needs.
In practice, business consumers usually have a lot of demand for the goods and services purchased. For that, you as B2B marketer must be able to adjust to customer needs. Neil Patel in his blog said that adjusting to customer needs could increase sales by more than 60%. So for the target business consumers do not be too rigid to adjust to customer needs.
Customer Satisfaction Priority
Customer satisfaction is one of the important things, moreover, your target is business people. You need to note customer satisfaction not only on products and services but also on customer service and customer support for the products and services you sell.
In addition, you also need to listen to criticism and advice given by consumers so that in the future the business can be more successful.
Nowadays most people search for information via the internet, not least your prospective customers. So it is very important to have your business on the internet. For that, you need to have a website for B2B marketing strategy needs.
Not quite up there, you need to do website optimization so that your website ranks well in search engines so that it is easily found by consumers.
The last marketing strategy is to take part in business events. At each event, usually, many business people gather, this is an opportunity for you to introduce the products and services that you sell.
By knowing firsthand, consumers from B2B will be more trusting and confident in the products and services that you sell.
Difference Between B2B and B2C
Before closing, there may be some of you who are still confused about the difference between B2B and B2C. Business to Customer (B2C) is a business that is run by selling products or services directly to customers. The difference between B2B and B2C is only in the target market, one is intended for business and the other is direct to the customer.
Well thus a complete discussion of business to business market. Please try these B2B strategies that we have explained above. If there are additional or deficiencies please write in the comments column below.