Business to consumer (B2C) marketing tends to pull all of the focus and attention from marketers, often leaving business to business (B2B) marketing off to the side as a second thought. We get it, business to business marketing can be hard and quite frankly is a whole different ball game to B2C marketing and therefore requires different tactics and approaches in order to master it. 

 

Let’s start with the basics, what is a B2B Marketing Strategy?

According to Study.com, B2B marketing is the marketing of products to businesses or other organisations for use in production of goods, use in general business operations or for resale to other consumers. 

A general marketing strategy according to Investopedia is a business’s overall game plan for reaching people and turning them into customers of the product or service that the business provides. The marketing strategy should contain the company’s value proposition, key marketing messages, information on the target customer and other high-level elements. 

 

What is the foundation of a B2B Marketing Strategy

  1. Segment your market and select a target segment / audience 
  2. Create an ideal customer profile for each market segment 
  3. Conduct a competitor analysis 
  4. Create a unique selling position for each market you want to target 

 

1 – Segment your market and select a target audience 

It is important to create a clear and succinct target audience at the start of creating your marketing strategy so that there are no confusions later on down the track. Not only that, but by knowing exactly who you are wanting to target heightens the chances of success and increasing your ROI as you know what type of consumer will have an interest in the product/service that you are trying to market. 

 

2 – Create an ideal customer profile for each market segment 

Create an ideal customer profile (ICP) rather than a ‘simple’ customer profile as an ICP is focussed on attracting high-quality leads who are similar to your popular customers instead of targeting anyone who may buy your product. 

 

3 – Competitor Analysis 

It is beneficial to have a good understanding of the market that you are operating within, and with that includes knowing who your competitors are, what proportion of the market share they hold and how they conduct their business. Why? Well in order for you to outperform them and improve on their methods so that the consumers are more attracted to your business than your competitors. 

 

4 – Unique Selling Position 

Positioning is all about how the consumer views your company / branding, so how are you going to position your brand in such a light that those perceptions are positive and inviting to the consumer?

 

As an award-winning digital marketing company Singapore, Digital Squad looks after all aspects of Digital Marketing and SEO so that you don’t have to. Get in touch with a B2B Marketing Firm today to discover how to successfully market your business. Digital Squad can assist with all B2B Marketing and keep you on track and in the lead within your industry.