B2B marketing is often seen as the boring relative of B2C. But that couldn’t be further from the truth. Business-to-business marketing is more of a challenge because you work with a company or group of stakeholders and the process is more complex. That’s actually what makes it exciting!
But B2B marketers are succeeding in the online space, especially since Covid-19 forced companies to pivot and adapt. The ever-changing digital landscape has offered B2B brands new ways to connect with customers.
With the global B2B ecommerce market projected to be worth nearly $19 billion by 2027, according to an Astute Analytica report, the online space is full of opportunities. This growth is due to a focus on digital experiences, the popularity of specialized B2B online marketplaces, and retail businesses migrating to online operations.
So how can you succeed in the world of B2B marketing? In this blog, we’ll provide you with a B2B marketing 101 that looks at trends, strategies, platforms, and inspiring real-world examples.
What is B2B Marketing?
B2B or business-to-business marketing is the promotion of services or goods to business buyers. It’s about selling to corporate customers rather than individuals and it requires different marketing tactics and strategies.
B2B marketing aims to increase the visibility of a product or service, drive leads and make sales. This can be done by using social media, SEO, content marketing, and many of the digital marketing techniques that are used by B2C marketers.
In recent years influencer marketing has become an important element of B2B marketing while social selling is going from strength to strength on platforms like LinkedIn.
What are the four types of B2B Markets?
There are four types of B2B markets based on the type of business involved and what each offers. These include:
1.Producers – These are companies that create something using your resources such as a restaurant, bakery, or tech solution provider. McDonald’s or Proctor and Gamble would be an example.
2.Resellers – This type of B2B company resells your product or service as it was created as a third-party provider. Examples include retailers and wholesalers like Walgreens or Target.
3.Government – This includes government agencies across the world that buy products and use them. Any national, regional, or local government agency could fall under this type, such as Gov.uk.
4.Institutions – This includes charities, nonprofits like hospitals and churches, along with educational institutionscolleges. Examples include the American Red Cross and Greenpeace.
What is B2C Marketing?
As indicated by its name, business-to-consumer, B2C marketing focuses on marketing to the individual consumer. B2C marketing is seen as more transactional as its goal is to drive a customer to purchase on a site, network or app.
