Business marketing is also known as business to business (B2B) marketing, and it involves a company selling services or products to another organization. Clients might purchase the services or products for resale, manufacturing, or to run the business. B2B marketing is more personal and involves a more direct relationship between businesses.
How Does it Work?
The marketing sales force of an organization is responsible for maintaining and generating customer relationships. B2B marketers work with customers closely, which means customer service skills are a must. To reach their clients, companies often use industry promotion methods, such as direct mail or trade magazine advertisements. They also use electronic media, such as email or social media.
Beginning a Career
If you want to be a market research analyst in the B2B industry, you’ll likely need a bachelor’s degree in statistics, marketing, or business. For a high-level position, you might need a master’s degree. Because the skills you’ll learn in a degree program are in high demand, you might find it worthwhile to take out private student loans in order to fund your learning. That way, you will not have to wait to begin your degree until you have enough money saved. Your classes will involve management, finance, and economics. You may also take classes in consumer behavior or international marketing. You can also expect to learn about computer applications and statistics. It’s also a good idea to look for a hands-on project such as an internship to get an entry-level job.
You’ll have to match the strengths and products of your firm with the needs of the target clients. You’ll also have to price the product or service so it will sell well. At the same time, your company will still need to make a profit, so you can’t price the products too low.
You’ll also need to develop other skills, such as:
Maintaining the brand
Gaining sales leads
Creating the Best Campaign
B2B marketing involves developing your company’s brand. It’s often done through promotional materials such as logos to identify the organization so it can stand out.
Successful branding can identify the service or product while establishing loyalty and credibility. Plus, it might offer customers an emotional connection, so they’re motivated to make a purchase. Social networking is often used to promote a brand as well. Technology and the internet both play an important role, whether through social networking groups, a website, or email campaigns. Depending on the organization’s needs, the internet can be a good tool for expanding their local, national, or international reach.
A successful campaign depends on the company’s ability to find clients online. Business clients often search certain words in search engines when looking for a service or product, so you’ll have to know the terminology they’re likely to use. Then you can put these keywords on the company’s website or social media. There are older techniques that might be used as well. For example, news releases are a good tool for spreading the word about new services or products. Trade shows can help a company reach a certain audience.
Watch for more in our new series The Basics, helping people new to the industry learn more about B2B, B2B marketing, and B2B sales.
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