Business to business marketing, or “B to B marketing” as it is sometimes referred to in the business sector, is the term used to refer to the businessmarketonline of either products or services to other companies or other businesses within the industry. The idea behind this element of marketing is to develop and promote products in a way that is beneficial to both parties.
The practice of Business to business marketing occurs more often than you may be aware. Some companies manufacture products and sell them directly, but most companies at least sell to distributors who then sell their products as retail. This is the most common form of business to business marketing that occurs within industries. However, just as important is the strategy of marketing a product directly to another business for their personal use. The key to succeeding in either of these steps of marketing is truly presenting an offer that is attractive to both you and the other business.
When a company manufactures a new product, decisions must be made regarding how to market the product within that industry. Unless the company plans to sell only directly to consumers through a website or store, the manufacturer must find a distributor who is willing to buy the products and sell them. These operations within an industry are a form of business to business marketing. In order to do this effectively, the manufacturer must produce a quality product that consumers are willing to buy as well as present a clear picture of the advantages that carrying their product will give to a distributor.
Most distributors will not be willing to purchase and sell a product for retail without some proof from the manufacturer that the product is popular among consumers. Finding distributors is a time consuming process for manufacturers. Research must be conducted regarding the demographic of customers who frequently shop at the location and their likelihood of buying the product. Making the right decision in finding distributors is important to both the retail distributors and the manufacturers. If a poor decision is made, the manufacturer is also affected since time was spent on a business relationship that may not prove to be fruitful, and products were not placed in locations where they could be sold.
Marketing between different businesses is the less common version of business to business marketing, although this strategy is being used more frequently today than in the past. In some ways, this is similar to marketing to consumers, because the business is the consumer. However, there are some important differences between selling directly to another business and marketing to consumers.
When marketing to consumers, the manufacturer typically advertises a general product and attempts to attract the attention of consumers, waiting for those who are interested to make contact. When marketing directly to a business, however, the burden lies with the manufacturer to present a case to the business manager, proving why the product will be beneficial. The practice of developing products directly by use for other businesses rather than the general public is becoming increasingly common.
As a small business owner, marketing your business can be a full time job. Your small business marketing strategy must have a variety of different angles to allow for the wide diverse population and how people find information these days. The internet alone has changed the face of how you do business, it allows prospects from further afield to find you.
No matter what small business marketing you’re doing you must make sure that you are getting a good return on your marketing dollar. Here are 4 ways to market your business.
1. Small Business Marketing Through Social Media:
Here are five tips that anyone can apply to their social media marketing today.
1. Build a list of friends and followers
2. Provide valuable information
3. Build trust and relationships
4. Be consistent
5. Understand that each social media platform is used by different followers; know which platforms you need to be on.
2. Small Business Marketing Through Articles and Video:
Another great way to build your profile and at a very low cost is through the use of article writing and videos. Your prospects are starting to use a wider search range to find what they are looking for and your job as a small business marketing themselves is to been seen in as many different places as possible.
Most small businesses have a website and if not refer to one of our early articles. Most websites have a blog. This is a great platform to keep your customers and prospects up to date with valuable information. However whenever you put something on a blog, you should also send it out to other article distribution sites. You never know who might pick it up and want to help you.
Using video is another great marketing strategy. It allows you to build trust with your prospects very quickly while providing a message. Video’s are well liked by search engines and usually will rank long before a website will. Using u-tube is a great starting point to get your videos on the internet.
3. Small Business Marketing Through Email Marketing:
Having a database and emailing them regularly is a great idea for staying in touch and keeping your business front of mind. However make sure that when doing so you are adding value to their lives in the information you’re providing.
4. Small Business Marketing Through Blogging:
Use blogs to market your business and show your expertise is slowly becoming a known way to build traffic and generate leads to your site. Prospects always want to hear from experts in their field, so leaving comments on blogs is a great way to promote your own website and therefore product or service. However make sure when you do leave comments on blogs that you are respectful to the author and you add value to the reader. If you don’t feel that you can do that then you’re better off moving onto the next one.
There’s 4 simple ways and extremely cost effective to help market your small business more online to generate more traffic and more leads. Small business marketing doesn’t need to be about spending large amounts of money to attract people who are ready to buy right now. If you’re consistent in your efforts over a short period of time you will find many more people finding you.