Most companies are looking for ways to reach out to more consumers in order to promote their goods and services. B2B marketing, fully known as Business to Business marketing involves a transaction between two companies or businesses. It simply means selling a company’s product and service to another company. It is similar to the normal marketing but requires special methods of execution and a bit of professionalism.
B2B Marketing can be said to occur when:
- Business/company re-sells products/services (for instance, a wholesaler who buys with the intention of selling to retailers).
- A business/company is buying goods for use in the manufacture of another product (for instance, a carpenter purchasing wood or nails from a company).
- Business/company needs the services of another firm (for instance, a catering school employing the services of caterers to teach their students).
- A business/company is buying goods used in the support of normal business operations (for instance, supplies in the office).
Businesses purchase products basically for adding value so as to push the product through the chain until the last consumer is reached. Just like every other business marketing system, there is a need to build strong relationships for continuity. Every business marketer bears that in mind. B2B marketers usually target government agencies, nonprofit organizations, producers, wholesalers, brokers, construction companies, schools, hospitals and to mention but a few. Some special skills are necessary for a B2B marketer to market to government and business experts excellently.
Skills required for B2B marketing
- Having a good marketing background
- A better understanding of B2B marketing
- Great communication skills
- Creative and organized
- Energetic and smart
For an effective marketing, there is a need for the B2B marketer to understand the needs of the consumers. This will help in mapping out the right marketing strategy and organize their products and services to meet those needs. The recent strategy is the use of social media and users have found it very helpful in this type of business marketing.
Also, a B2B marketer should draw out a marketing plan that is focused on proper delivery and branding. This can be achieved by proper studying of the product/services, the target market, prices and so on. Most times, Buyer-Company takes decisions based on the price of the product and the profit they will make.
B2B marketing is a unique method of marketing. It dwells more on building partnerships than making quick sales.