Until the recent past, brand positioning was not of much relevance to B2B companies for some reasons such as the price being the deciding factor for decision-making buyers and emotional aspects do not move them, B2B products are complex enough to be reduced to a slogan or punchline. These views are no longer valid and B2B branding has acquired much significance to gain several benefits Here are some of the important benefits of successful B2B branding.
A successful B2B marketing asks for an effective inbound marketing strategy, which focuses on buyers undergoing a different buying cycle, involving a formalized decision-making process. The B2B buyers engage in a lot of research to find their suitable product or service. In the initial stage, they are unaware of your company or products or services. Being a successful B2B company, your objective is to create an awareness and an understanding of who your target buyers are.
Retargeting as a business process is gaining much significance and it is presumed that B2B businesses try this marketing practice to bring back the visitors to their website; thus increasing the opportunity to sell. Why do B2B businesses resort to retargeting? The prime reason is owing to the fact that only 8 percent or less than that of visitors to your website convert or buy your product or service.
With the vastness of the domain of B2B Lead Generation, it is difficult to ascertain just one sure-shot way for success. There is no “right” strategy either, for different marketers prefer having different hacks up their sleeve, and all of them work!
Micro, Small and Medium Enterprises (MSMEs) are amongst the strongest drivers of economic development, innovation and employment. The MSME sector also contributes in a significant way to the growth of the Indian economy with a vast network of about 63.38 million enterprises.
With Small and Medium Enterprises (SMEs) sector contributing significantly to the economic growth of the country, its importance can never be undervalued looking at the employment, manufacturing and export opportunities it offers. Called the “engine of growth”, SMEs in India are about 43 million in number and comprises manufacturing, packaging, food processing, chemicals, infrastructure, service and IT. They contribute about 8 percent of the GDP, while it is about 45 percent and 40 percent of total manufacturing and exports respectively.
Taking a page from Instagram, Facebook and Snapchat, LinkedIn recently bought a ticket for the Stories train. Starting as a testing option for a few users, it was rolled out completely in late 2020.
The COVID-19 pandemic triggered a shift where digital mediums played a critical role in all aspects of our lives and changed the whole perspective about digital marketing. Unlike 2020, the new year 2021 asks for technology-driven strategies to identify trends, outstrip the competition and sell better than the last year. The B2B marketing channels help you create an effective marketing strategy; nevertheless, you need to focus on the most efficient ones to attain your global objective of brand awareness.
For any B2B business, a brand strategy is a crucial factor for a long-term success. If meticulously devised considering several aspects such as your product, niche, market, competitors and customers, it becomes a strong brand strategy. Unlike that of B2C, a B2B brand strategy is more of science than art for the branding audience are generally decision-makers, who look for facts and figures and are logic-oriented.
Inside sales is gaining much prominence today and it is no more making calls and fixing appointments with the prospective buyers and handing over the meeting to the field sales team. Instead, inside sales carries out all the steps of sales process and is growing faster than the conventional sales models.
Even in our normal, day to day life, whenever we have to commit our time, energy and money in doing something we tend to ask ‘what do I gain from it?’. Whatever we get from an expenditure of time, energy and money (investment) whether happiness, a sense of self-satisfaction-as from donating for a cause- or a material reward, is the ‘return’ from that investment. No wonder this consideration is so important for a business too. Formally called Return on Investment or ROI. It provides a deep insight into how one’s business. is doing and which areas need improvement to achieve business goals. Now, how does one go about calculating the ROI?
Most B2B websites fail to be organized, engaging and empathetic to customers. Is your website good enough in understanding buyers, as well as their issues? Unfortunately, there are websites of companies offering renowned products, which we often come across, not customer-friendly for various reasons. They look informative but fail to keep the visitors engaged or have a persuasive call to action.
In the world of marketing, being stagnant is, was and never will be an option. In line with the paradigm shifts that have overturned the traditional norms, every marketer now understands the value of adaptability.
As one may have thought, the digital revolution has not only touched the marketing and sales verticals but left quite an impact on the manufacturing sector as well. CIOs are looking at a disrupted industry that feeds off hyper-competition to ensure “survival of the fastest.”
At this point, it is common understanding that retaining a customer is several times easier and financially viable than looking out for a new one every now and then. Yes, connecting with customers on their level is not the easiest of tasks, but once you have forged a long-lasting relationship with them, the benefits keep raking in.
A traditional brick and mortar business trying to build customer engagement and a stronger brand identity in its own local geographical proximity needs to hone the marketing skills to survive amidst the burgeoning competitive environment. The local SEO strategies can complement the offline marketing efforts of these businesses by offering higher visibility and can help smaller businesses to grow faster and make a mark. There are majorly 5 magical steps under local SEO to get a better brand identity and to beget higher local traffic and higher profitability.
According to Peter Drucker, one of the world’s most influential thinkers on management, “Business has only two basic functions – marketing and innovation.” Yet, a few years back, manufacturing companies could do without having to focus on the second aspect. A sales support team was all they needed to secure long-term associations – trade fairs, sell sheets, advertisements in business magazines and a functional website were enough to generate the leads they wanted.
To generate sales, you need to find the right audience online, which has fast become the mantra in the digital world. This is right with every industrial sector, including the banking and financial sector. Unlike any other sector involved in the B2B marketing, the financial services sector is distinct for it takes time to generate leads and convert them owing to the complexities in its products and services.
Automobile industry, like any other industry, has gone online owing to vehicle shoppers’ active role in the buying process. A typical buyer in India starts the car purchase process by looking for a car for his or her family. This means he or she would naturally look for a car with a larger space, better fuel efficiency and reliability, newer technology, greater brand image and better reviews. For all these, prospective buyers go online, which shows various websites offering comparative analysis of different models and brands of automobiles.
The harsh truth of the day? The global economic recession is going nowhere for quite some time. Countries are still languishing in the COVID-19 outbreak’s multiple waves, and those that are recovering are exhausted economically. Perhaps there was no worse time for a business to be in, or maybe no better.
Any digital marketing enthusiast would have come across the terms B2B and B2C marketing strategies often. Both are fundamentally different despite being integral components of a successful marketing campaign. Their difference lies in the target audiences they tend to cater to – either individual customers or businesses.
The new web-based world has changed everything we knew about traditional marketing, except one. Acquiring prospects continues to be one of the most important goals for any financial service, including the banking sector. This makes customer relationships a central piece in your operational journey.