What is B2B marketing?
Business to Business (B2B) marketing is about grabbing the attention of businesses that may have an interest in buying the product or service you are selling. It helps target companies increase their profits, or to make their lives easier in some way. For example, they may offer a way to streamline existing processes, offer time-saving solutions, or open new revenue streams that may otherwise have been missed.
The sales funnel can be made simple if you follow the AIDA model: Attention; Interest; Decision; and Action. At each stage, you, the marketer, are providing prospects and leads with a reason to continue moving through the funnel.
Regrettably, this comfortable process is facing strong headwinds. The consumer world, where brands are meeting consumers in places outside traditional funnels, is providing products and services in various new ways. As a result, B2B businesses need to update their approach, and sooner rather than later.
The new B2B buyers are taking advantage of the large volume of information and suggestions available to them at the click of a button.
Today, buyers have access to more information than ever before, and this is changing the sales cycle. Buyers are using the information to inform their purchasing decisions, and customers arrive at the end of the sales funnel and armed with most of the information they need to complete a sale.
The level of detail and information that leads require at this point are much greater - they’ve done the overview research themselves, they now need answers to specific questions. You might need to consider if your sales team is equipped to deal with these new, well informed buyers? Contrary to before, they now need to be detail oriented and able to answer specific and technical queries from buyers.
What can you do to keep up?
Having an active brand and marketing presence is becoming more important if your business wants to appear on the radar of a buyer at all stages of the buyer journey. The modern B2B buyer will research and monitor potential suppliers through social media platforms, websites, blogs, etc. therefore, a business with a poor marketing presence may come across as less professional and lead to lost business.
* As reported by Adobe, 52% of marketing professionals worldwide name video as the content with the best ROI. That’s because consumers spend a disproportionate amount of their time watching short-form vertical video. This means marketers need to focus efforts on creating content that’s native to social media platforms.
B2B is in for a big shakeup, the modern buyer is adopting new digital mediums of information, empowering themselves through research and making team decisions. Businesses need to learn to step outside their comfort zone. Sooner or later, new ideas will catch on, and first movers will have a big advantage over the others.
Here at TBT Marketing, we know how to drive business through the B2B sales funnel through exciting marketing campaigns that hit all stages of the buyer journey. Give us a call on +44 (0)1373 469270 or email us at [email protected] to see how we can help you.