Understanding B2B marketing
Let's not quibble about the term B2B; we already answered the question in a concrete way in our previous dossier on B2B e-commerce. To summarise, we will only use the B2B script.
Let's look at the definition of marketing, and more specifically B2B marketing. We've already explained it well in the chapter, but for those of you who missed it...
Marketing is basically about analysing and responding to consumer needs. B2B represents a commercial activity from one company to another (hence the term Business To Business). Nothing very complicated for the moment.
Things get more complicated when you start to explore the differences between B2B and B2C marketing...
B2B MARKETING VS. B2C: WHAT ARE THE DIFFERENCES?
A business and an individual are both potential customers for a marketer; however, don't assume that what works for the former will also work for the latter. Here are some of the differences that make B2B marketing so unique.
1. The motivation to buy something is different
We've all seen it at least once in our lives: your girlfriend, or maybe your friends buy a product they've just seen on a whim. Maybe you went into a shop with the sole purpose of window shopping, but came out with several purchases. In short, the individual is as regularly guided by emotion and the search for entertainment as by reason and efficiency. A company, on the other hand, normally makes its purchases on a rational basis.
2. The number of contacts changes
Whereas in B2C you often only talk to one person (the end consumer), B2B requires an exchange with several departments (marketing, management, accounting, to name but a few) at different stages of the purchasing process, often in order to validate the purchase of a service or product.
3. Orders - and prices - are not at all the same
Unless you are an individual with a passion for a range of products, buying in B2C is often a matter of buying a single product at an affordable price. In B2B, orders are often quite complex (due to the very specific needs of a company), and prices are much higher (which are often adjustable according to the company).
4. Communication must be adapted for a professional
The individual is king: this is a golden rule that must be respected at all times. However, the way to address them is not at all the same as the company (also king!). While the private individual demands special attention and emotion in the communication addressed to him/her, the professional expects to receive more detailed, more technical information...
5. Occasional purchase and low retention versus frequent purchase and long term relationship
The private individual, apart from being royalty, is also a capricious and unpredictable being who will not always buy from the same company. The opposite is also true for a company, which will seek to develop a longer-term relationship with the same structure, and will make frequent purchases... Provided that the vendor is satisfactory, of course!
6. A longer buying cycle and contract in B2B
The whole buying process in B2C can be completed in a few minutes; in B2B, the period of reflection and validation is often longer (see point 2), and the contract signed between two companies can last weeks, months or even years.
B2B MARKETING: WHAT STRATEGIES?
As we said at the beginning of the dossier, there are many strategies and techniques related to B2B marketing. We have compiled some of these approaches for you.
Account-Based Marketing (ABM)
We will start with a strategy that is relatively unknown in France: Account-Based Marketing. ABM differs from "classic" mass marketing in that it targets a key group of customers very specifically and develops a specific strategy for each of these key customers. Although not yet widely used on this side of the Atlantic, this strategy is proving in some quarters to be far more effective than the traditional strategies employed by many companies.
Marketing Automation
Ah, Marketing Automation... In a few years this term has become almost synonymous with marketing in its entirety, and many buzzwords have appeared around the subject. In B2B, due to the longer buying process, it is important to keep in touch with the customer, potentially for several months. This is where Marketing Automation comes into play, and more specifically Lead Nurturing (a technique of feeding the prospect in order to hold their attention and educate them about a product or service). With Marketing Automation, this nurturing process can be partially or fully automated.
Inbound and Content vs Outbound
Just like Marketing Automation, Inbound Marketing has become synonymous with the marketing world today, at least in B2C. In B2B, although Outbound Marketing is still a viable strategy in some activities, more and more companies are reluctant to trust the Outbound approach as intrusive and aggressive. It is therefore advised by many specialists to orientate their strategy more towards an Inbound approach by creating original and transparent content that enhances the company. Very simply, content marketing (like writing a white paper, for example).
Search Engine Optimisation (SEO)
In 2019, SEO has become critical for companies, whether they are B2B or B2C oriented. Unfortunately, Google does not help matters by constantly evolving its algorithms, forcing companies to adapt their SEO strategies at least once every year (or even more, depending on the period). The goal, however, remains the same: to reach the top spots on the first page of Google (and the other search engines, of course, but let's be honest; who doesn't use Google?).
Platformisation of media
In B2C, massive platforms like AirBnB, booking.com, Trivago, Amazon or Google have dominated the market for many years now. This evolution is confirmed by the appearance of similar platforms in B2B for some time now (for example, the famous Rungis market has had a website dedicated to connecting suppliers and wholesalers for several years). Logic therefore dictates that an increasingly B2B platform approach should be anticipated in the coming years, regardless of the sector.
Appointment Setting
Let's look at the definition of marketing, and more specifically B2B marketing. We've already explained it well in the chapter, but for those of you who missed it...
Marketing is basically about analysing and responding to consumer needs. B2B represents a commercial activity from one company to another (hence the term Business To Business). Nothing very complicated for the moment.
Things get more complicated when you start to explore the differences between B2B and B2C marketing...
B2B MARKETING VS. B2C: WHAT ARE THE DIFFERENCES?
A business and an individual are both potential customers for a marketer; however, don't assume that what works for the former will also work for the latter. Here are some of the differences that make B2B marketing so unique.
1. The motivation to buy something is different
We've all seen it at least once in our lives: your girlfriend, or maybe your friends buy a product they've just seen on a whim. Maybe you went into a shop with the sole purpose of window shopping, but came out with several purchases. In short, the individual is as regularly guided by emotion and the search for entertainment as by reason and efficiency. A company, on the other hand, normally makes its purchases on a rational basis.
2. The number of contacts changes
Whereas in B2C you often only talk to one person (the end consumer), B2B requires an exchange with several departments (marketing, management, accounting, to name but a few) at different stages of the purchasing process, often in order to validate the purchase of a service or product.
3. Orders - and prices - are not at all the same
Unless you are an individual with a passion for a range of products, buying in B2C is often a matter of buying a single product at an affordable price. In B2B, orders are often quite complex (due to the very specific needs of a company), and prices are much higher (which are often adjustable according to the company).
4. Communication must be adapted for a professional
The individual is king: this is a golden rule that must be respected at all times. However, the way to address them is not at all the same as the company (also king!). While the private individual demands special attention and emotion in the communication addressed to him/her, the professional expects to receive more detailed, more technical information...
5. Occasional purchase and low retention versus frequent purchase and long term relationship
The private individual, apart from being royalty, is also a capricious and unpredictable being who will not always buy from the same company. The opposite is also true for a company, which will seek to develop a longer-term relationship with the same structure, and will make frequent purchases... Provided that the vendor is satisfactory, of course!
6. A longer buying cycle and contract in B2B
The whole buying process in B2C can be completed in a few minutes; in B2B, the period of reflection and validation is often longer (see point 2), and the contract signed between two companies can last weeks, months or even years.
B2B MARKETING: WHAT STRATEGIES?
As we said at the beginning of the dossier, there are many strategies and techniques related to B2B marketing. We have compiled some of these approaches for you.
Account-Based Marketing (ABM)
We will start with a strategy that is relatively unknown in France: Account-Based Marketing. ABM differs from "classic" mass marketing in that it targets a key group of customers very specifically and develops a specific strategy for each of these key customers. Although not yet widely used on this side of the Atlantic, this strategy is proving in some quarters to be far more effective than the traditional strategies employed by many companies.
Marketing Automation
Ah, Marketing Automation... In a few years this term has become almost synonymous with marketing in its entirety, and many buzzwords have appeared around the subject. In B2B, due to the longer buying process, it is important to keep in touch with the customer, potentially for several months. This is where Marketing Automation comes into play, and more specifically Lead Nurturing (a technique of feeding the prospect in order to hold their attention and educate them about a product or service). With Marketing Automation, this nurturing process can be partially or fully automated.
Inbound and Content vs Outbound
Just like Marketing Automation, Inbound Marketing has become synonymous with the marketing world today, at least in B2C. In B2B, although Outbound Marketing is still a viable strategy in some activities, more and more companies are reluctant to trust the Outbound approach as intrusive and aggressive. It is therefore advised by many specialists to orientate their strategy more towards an Inbound approach by creating original and transparent content that enhances the company. Very simply, content marketing (like writing a white paper, for example).
Search Engine Optimisation (SEO)
In 2019, SEO has become critical for companies, whether they are B2B or B2C oriented. Unfortunately, Google does not help matters by constantly evolving its algorithms, forcing companies to adapt their SEO strategies at least once every year (or even more, depending on the period). The goal, however, remains the same: to reach the top spots on the first page of Google (and the other search engines, of course, but let's be honest; who doesn't use Google?).
Platformisation of media
In B2C, massive platforms like AirBnB, booking.com, Trivago, Amazon or Google have dominated the market for many years now. This evolution is confirmed by the appearance of similar platforms in B2B for some time now (for example, the famous Rungis market has had a website dedicated to connecting suppliers and wholesalers for several years). Logic therefore dictates that an increasingly B2B platform approach should be anticipated in the coming years, regardless of the sector.
Appointment Setting
