B2B Marketing Strategies | Best MBA colleges in Bangalore

Posted by Prof. Kuldeep Sharma On 28/02/2022 12:19:16

A marketing strategy is a company's overall plan for reaching out to potential customers and converting them into paying clients for their goods or services. The company's value proposition, core brand message, statistics on target customer demographics, and other high-level elements are all included in a marketing plan. Place, pricing, product, and promotion are the four Ps of marketing. Best MBA college in Bangalore

Companies can ensure they have a visible, in-demand product or service that is competitively priced and advertised to their customers by carefully integrating all of these marketing methods into a marketing mix. The most popular strategies for industrial marketing (B2B) space are discussed and analyzed in this article. Top Ranked PGDM college in Bangalore

  1. CONTENT MARKETING: Content marketing emphasizes education overselling to influence buying behavior. This strategic marketing approach focuses on creating and distributing information relevant to prospects’ needs in order to attract those best aligned with — and most likely to purchase — your product or service. Since communication is ongoing, content can be tailored to reflect what you learn about leads over time and may include varied formats like infographics, webpages, podcasts, videos, blogs, white papers, webinars, and eBooks.It is effective because it Draws prospects through the sales funnel, grows brand visibility, credibility, and desirability, and aligns target markets with relevant information
  2. INBOUND MARKETING: Inbound is far and away from the most effective B2B marketing strategy because it leverages the strengths of the majority of all the other strategies to attract, engage, and delight customers. Unlike traditional marketing methods — even the other strategies listed here — inbound marketers earn the attention of customers and pull them to a company website by producing and providing meaningful content. Because messaging is relevant and appears in the right place at the right time, inbound invites visitors in rather than annoying them with interruptive traditional advertising. It is effective because it works for businesses of any size or type, creates more knowledgeable prospects, and can be easily integrated and managed using a Customer Relationship Management (CRM) system and a content management system (CMS), like HubSpot.
  3. SOCIAL MEDIA MARKETING: Social media marketing focuses on providing users with content they find valuable and want to share across their social networks, resulting in increased visibility and website traffic. Social media shares of content, videos, and images also influence SEO efforts in that they often increase relevancy in search results within social media networks like Facebook, Twitter, LinkedIn, YouTube, and Instagram as well as search engines like Google and Yahoo. It is effective because it reduces marketing spending while increasing lead generation, provides metrics that give companies additional marketplace insight, “Humanizes” brands, and encourages conversions.
  4. SEARCH ENGINE OPTIMIZATION: Search engine optimization or SEO, is the process of increasing awareness about — and traffic to — a particular website by making sure it appears among the top unpaid (or “natural”) search results on search engines like Google, Bing!, and Yahoo. While there is a common misperception that it's a stand-alone marketing tactic, SEO is accomplished by many tactics working together and is central to an effective inbound marketing strategy. While social media, email, banner ads, and other marketing tools generate website visits, SEO visibility is particularly important because search engines are the primary way users navigate the Internet. SEO automatically increases your audience in a relevant, targeted way — they self-identify as someone who is interested in your product or service. SEO is effective because it continues to evolve to keep pace with mobile and local search engine use, simplifies searches for customers interested in your product or service, and is a cost-effective way to keep your brand competitive with similarly situated companies. 
  5. SEARCH ENGINE MARKETING/PPC: Search engine marketing, or SEM, is a tool that companies use to grow their website traffic through paid online advertising. One of the most popular SEM methods is pay-per-click (PPC) links. Essentially, a company buys or “sponsors” a link that appears as an ad in search engine results when keywords related to their product or service are searched. Every time the ad is clicked, the company pays the search engine (or another third-party host site) a small fee for the visitor — a literal “pay per click.”  Search engine marketing is effective because of its “breadth in online tools and reaches”, Cost-effectiveness in generating high visibility, and Adaptability to multiple markets and audiences.
  6. ACCOUNT-BASED MARKETING AND RETARGETING: Account-Based Marketing (ABM) is a B2B strategy that focuses on a targeted set of accounts using highly personalized campaigns. It provides marketing and sales teams with a number of advantages, including a faster sales process, cost-effectiveness, and more efficient use of marketing resources. With all of the things, ABM is, though, it’s important to remember that ABM is not the same as targeted outbound marketing. It’s much more strategic, using methods like online retargeting to personalize marketing efforts.
  7. EARNED MEDIA AND PR: Earned media (or “free media”) is publicity that’s created through efforts other than paid advertising. It can take a variety of forms — a social media testimonial, word of mouth, a television or radio mention, a newspaper article or editorial — but one thing is constant: earned media is unsolicited and can only be gained organically. It cannot be bought or owned like traditional advertising.
  8. REFERRAL PROGRAMS: A referral program is an umbrella term used to describe the systematic approach companies take to incentivize people to tell others about their products or services. Implementing specific affiliate programs, customer referral programs, and partner programs within a marketing plan structure are meant to offer the instant credibility of existing customers to grow a customer base.
  9. INDUSTRY EVENTS: In-person and online trade shows remain a top B2B networking tool (especially when inbound tactics support event efforts), as they gather companies within a specific industry into one location, whether physical or virtual, to connect and demonstrate their latest products and services. Rarely open to the public, trade shows give companies the chance to establish or strengthen relationships with key industry partners, customers, and prospects; identify market trends and opportunities, and gain an understanding of what their competition is offering in the market. In light of the pandemic-driven “new normal,” networking has met with some limitations.
  10. CONVERSATIONAL MARKETING: Conversational marketing is just that — a conversation. Real-time interaction via a chatbot or live chat gets the right information in front of prospects and customers at the right time, and follow-up questions are addressed immediately. Personalized, relevant engagement vastly improves the user experience, increasing the likelihood of getting referrals from happy customers. For businesses, conversational marketing methods typically cut the time buyers stay in the sales funnel.

Taken individually, the majority of the strategies we listed provide limited marketing clout. However, inbound marketing aligns the heavy-hitters — SEO, SEM, content marketing, social media, and earned media — to deliver a well-rounded, cost-effective marketing approach that generates qualified leads, strengthens customer relationships, and successfully builds brands.

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