B2B MARKETING Overview Tactics Strategies

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1 Product2Market B2B MARKETING Overview Tactics

2 B2B Marketing Overview Tactics and Strategies By Anthony E. Byrne Anthony is CEO and co-founder of Product2Market, a leading European Technology Marketing Agency. A graduate of UCD Michael Smurfit School of Business in Dublin, he has been involved in a number of successful Start-ups and is a career marketeer. Anthony s background is in both Advertising and Software and he has been on the forefront of how both have intersected to to be come modern

3 INTRO What is Business2Business Marketing Business to Business marketing differs greatly from Business to Consumer marketing. This applies to factors such as potential target market size, value proposition and consequently, decisions and approaches used by marketing managers. In the past, Business to Business marketers had a (more) straight forward approach to winning new business. This was because of less competition in the marketplace, a more simplistic approach due to less tactic options and fundamentally a focus on relationship marketing (ensuring loyalty and repeat business). Essentially, having so many marketing resources in 2015 has meant Business to Business marketers have a less clear path in terms of what is right, wrong and whats going to bring the best results. So, out with the old and in with the new? No. Mix it up a bit understand what the options are then start building a strategy.

4 The First Option Typically On The Table It s clear, advertising is typically the most traditional form of marketing available. In our consumer driven society it s very hard to undertake any activity that isn t impacted by some type of Advertising. Through the mediums of television, radio, press, magazines and the Internet there is almost limitless possible avenues your Business could use to advertise. Advertising says to people, here is what I have. Here is what it will do and here is where to get it Leo Burrnett, quoted in LEO s Advertising s returns can sometimes be hard to quantify so its important to have a quantification process in place: 1. Be Specific. Dedicated telephone numbers or advertised offers with redemption codes all for the purpose of tracking the return of investment. 2 Location, location, location. The location of your advert is crucial will it it really been seen? Is there an industry readership?

5 Get inside their Mailbox Direct mail, mail shots, mailers. We ve all heard, seen, read these as they ve landed on our desk. But in today s Marketing world, the Internet has affected the medium used to deliver marketing messages, which would have traditionally been delivered through the Mail (Postal) system. This has become a positive for direct mail as a marketing method, as decision makers aren t being bombarded by endless mail-shots. Less is more. Catch them for a meeting There is no such thing as soft-sell and hard-sell. There is only smart sell and stupid sell. Charles Browder (1958), president of BBDO, quoted in James B. Simpson, Contemporary Quotations 1964 What we mean by Direct Sales is a company s Sales resources, which contact the target market directly. Whether following up on enquiries or making cold calls your company s sales people should be responsible and accountable for growing their pipeline and deals closed. Direct sales people give your company focused growth by hunting for leads and opportunities.

6 Empowering Sales Teams Through Marketing It s always worth considering that the most effective use of a Sales Person s time is closing deals with the right type of prospect at exactly at the right time This means that marketing generating leads for Sales people to close is key, if you want to optimise a sales & marketing relationship and the only way to build a scalable revenue engine for your company. In 2015 using the internet at our disposal for marketing, we now have the opportunity to have an active conversation with our target market. Through social media channels, company blogs and the opportunity to distribute content electronically. Now if you were waiting for it, here is the part where we talk about Google! So irrespective of first contact being by direct mail, or sales call you should anticipate that your potential clients are going to take to the web to research your company, your product and most likely YOU! It s incredibly important that the online content found about your proposition is strong and will completely back up all you claim in your marketing message. Of course you can always get Google to work for you as a marketing channel. Buying keywords is one way to get a return by being found when search engine users are doing research online. But this can be expensive and gives no guarantee that keyword clickers will end up in your pipeline or will ever buy your product or service. 94% of B2B Buyers use Google for research at some stage in the sales process. Source: 2014 Sate of B2B Procurment Report Acquity Group

7 Getting your marketing strategy right on target So you know the main options available to you, how do you decide which to start with and how to execute them? Look at the past, present and future - analyse and quantify. Market Research Knowing what s happening in the marketplace especially with your competitors is imperative. Figure out where they advertise and from where their name seems to be known. Once you know what appears to be working for them (and not working), this can help you figure out what will work for you. Resources Are you a one-man band or part of a multi-national organisation? Do you have a $50 or $500,000 budget? Always try to leverage your team, contacts or even family to get things done. Marketing ideas come from everywhere. If you are not strong with copy or creative try and find someone who can help. Know-how Do you have the expertise in-house to execute campaigns? There s no point in making a plan to design a state of the art billboard if you don t have designers in house to do it! Put it on ice until you are ready or if you have funds, talk to experts who are experienced in this field! Know what to expect/set your targets realistically Having clear targets in place will mean that you are working towards something very specific and always keeping the end in mind. A short, medium and long-term strategy will allow you to identify trends weekly, monthly and annually if carried out correctly. Using Analytics systems will mean that you can clearly understand your targets and objectives in terms of your marketing activity. This will also mean you can make amendments to your plan based on trends identified

8 We Can Help Empower Your Sales Teams With Our Lead Generation Service Get In Touch! Product2Market First Floor Philips House South County Business Park Dublin 18, Ireland. P: E: info@product2market.ie W: