What is Business Marketing

What is Business Marketing

What is Business Marketing

Business marketing, called sometimes B-2-B marketing is the practice of selling one certain business, products, services to other companies. In their turn, these companies can sell the bought stuff for the higher prices or use them in their work.

Companies that operate in the B2B segment sell their goods and services to legal entities. Imagine you are selling industrial woodworking machines. The other companies will buy them.

 

Business marketing features

When you are doing advertising that is aimed at corporate clients it is necessary to emphasize that you will increase the profits to your client. For example, in order to sell machines, you need to tell the buyers that they will help their business to expand sales, increase production, earn more.

In business marketing advertising it is important to identify the target audience correctly, and specialists of Adrenaline Studios know it wellWhen you sell machines, the target audience can be the head of the purchasing department, the development manager and the general director himself.

In large companies, the CEO is unlikely to deal with such issues, and in a small firm, he can do it.

 

Purchases features

Purchases in this business are serious steps. For the company, the quality of the product is very important.

The buyers here are rational, so all kinds of sales, promotions and funny ads do not work — mind it when you deal with business marketing.

As a rule, business buyers do not spend their own money. Even if you are talking to the owner, there is a difference between personal expenses and business expenses. Therefore, most purchases are required to be financially justified.

The process of making a purchase is often complicated. These are adherence to accepted formalities, rigid pricing models, fiscal policy, terms of the deal, and analysis of the proposal. Business buyers need complete information to make a decision, and often too much time.

 

Caution

Sometimes you need to negotiate at different levels of the company, including decision makers. You may not always know for sure who is who in the company. In addition, your written message, before reaching the goal, often must overcome the “secretarial barrier”.

Business buyers are especially cautious about new products and services. The price of their errors I can be too high. However, the actions and opinions of colleagues and competitors can affect them. They remember unsuccessful experiments for a long time.

Business buyers do not like calls from unknown companies. They can just read mail, and sort it quickly. However, if they are interested in something, they will read it, although they want to get to the point quickly.

 

Prices

Business marketing is really different in pricing, planning, life cycles, and so on. However, the development of commercial proposals for it should not generally differ from selling offers for the consumer market.

 

Marketing important points

When you need success in this work, just consider these moments:

  1. Talk about product features in terms of benefits and concretize it in numbers;
  2. Segment profit;
  3. List all features;
  4. Provide a “long life” to your sales proposition;
  5. Forward correspondence to multiple recipients in the firm, affecting the decision on the deal;
  6. Clearly position your offer;
  7. Use positive feedback and experience from other buyers;
  8. Give warranties where possible;
  9. Make more contacts;
  10. Take advantage of self-mailers;

 

However, business buyers are ordinary people with the same fears, feelings, and dreams, like any other. They simply experience all these problems in their offices, not at home. Basically, business buyers respond to the same motivators and tricks as ordinary consumers.

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