HOW CAN I BE SUCCESSFUL AT B2B MARKETING STRATEGY PLANNING?
The world of B2B marketing strategies has expanded, and the behavior of professional services buyers has changed.B2B buying has always been a tricky process. So, before stepping into the topic, we must know what B2B Marketing, exactly means.
”Business 2 Business marketing includes the sale of a company’s product and service to another company.”
B2B Marketing techniques work on the same principles as Consumer Marketing, but they are executed uniquely. To increase your products and services market reach, you need to grab the attention of buyers that are using technology as the primary mode of communication. The role of buyers and their relationship with sales reps have been transformed a lot, in this digital age.Buyers are likely to build relationships with B2B companies that have a well-built digital presence and an information-rich marketing strategy. If you’re looking for better lead nurturing through every step of the buyer’s journey and at every stage of the sales funnel, here are some strategies you can implement for successful B2B online marketing
According to Wikipedia, a marketing strategy is a long-term, forward-looking approach to planning with the fundamental goal of achieving a sustainable competitive advantage.This might sound a bit unclear. Nobody has a clear idea what should be achieved and in what way and it’s true. Let’s simplify this-marketing strategy is the way to go from point A (current situation) to the point B (desired outcomes) by planning beforehand (marketing channels and tools) with affordable resources (marketing budget, team, etc.).
Now the question arises “How do you create this strategy the right way?”
1. Segment your market and focus on a target segment – When you focus on a specific market segment, you can personalize your offer not only by *FNAME*, *ROLE*, and *INDUSTRY* but, to the needs and challenges of the companies accordingly, who belong to this segment.
This can lead to higher conversions, ROI, and revenue.
Start with 2 simple questions – a) Who can be a potential buyer of my products (your target audience)? b) Why do they buy products or services like mine? What kind of problems or tasks do they want to solve?
2. Create an ICP for every market segment – There will be 3 benefits of such an approach:
a) You’ll be able to personalize all your marketing materials such as sales pages, proposals, ads, lead nurturing emails, etc.
b) You can figure out the effective lead generation channels instead of guessing what works.
c) You can choose the right marketing qualification criteria to evaluate the efficiency of every marketing campaign.
3. Run a competitor analysis– It’s smart to work on your foundation before implementing any marketing tactic.
There are numbers of marketing channels and tools, you can implement. SEO, PPC, Facebook Ads, cold outreach, etc. The truth is, they all at the same time work on some markets and don’t work on others.
You must know, how you are going to figure out what marketing channels you should focus on! Well, this is what you should do –
a) Survey your core customers (what we covered in the previous step)
b) keep an eye (secretly) on your competitors
4. Develop a USP for each market you want to target – Many companies think that positioning and USP are the same thing. But this isn’t true.
Here are the steps how you can develop a USP for each market –
a) Reach out to the core customers. Ask them what their favorite features are.
b) Select top-10 features and rank them according to their importance.
c) Do compare your product/top features with your top three competitors.
d) Choose the criteria where you top your competitors.
e) Formulate your USP by concentrating on some of these factors: impact, feature, need, target audience etc.
So, here are some of the things that you should take care of, and you can definitely walk on the path of being successful at b2b Marketing strategic planning.