Hello. Today, we talk about business-to-business (B2B) marketing.
We have been hearing that B2B marketing does not leave much room for marketing in the traditional sense, and needs only selling. Can you comment on this?
I do not think this is correct. If we go back to the original definition of marketing - which is to understand what consumers need and want, provide them that, and then induce them to ask for our brand – then marketing is very relevant in the B2B world.
It is probably fair to say that we can think of business development as a key feature in B2B businesses, and it serves partly as marketing, and partly as selling.
But isn’t business development the same as doing sales calls?
In most B2B business environments, the universe of potential customers is finite, i.e. it does not run into millions of potential customers. Therefore, direct contacting is a feasible method of letting prospects know of our brand’s existence and qualities.
The very process of business development could therefore result in brands being built as a natural consequence. After all, what could be better for the brand than a successful sales pitch to an important customer?
Yes, that is clear. But we heard that there is no other method for pure brand building efforts in B2B, without any selling being involved.
Maybe someone told you that because there are not many avenues for B2B players to engage in pure brand-building.
However, the fact remains that players with strong brand equity are more likely to withstand aggressive competition or a downturn in the economy. Therefore, brand building should be treated as being very important. There are some fairly effective options for brand building in the B2B context.
What are these options?
The primary route to brand building in this sector would be customer service. A high quality of service delivery is the best way to strongly bind the customer, and also to ensure that positive word of mouth reaches prospects. It is true what they say in textbooks – it is easier to get more business from an existing client than from a new client, and being referred by an existing client is the easiest way to get a new client.
Advertising in this sector is difficult. While existing media vehicles do provide access to target audiences, they also result in huge wastage, i.e. the intended advertising reaches a vast number of people who are not the target. For instance, for a company in the business of providing photocopiers on hire to small offices, the target audience of decision-makers can certainly be reached by advertising in BusinessLine, but the ad will reach so many others who are not the target audience.
One very useful route is that of the newsletter. However, care should be taken to ensure that it carries content that is relevant and interesting to the prospect. While online newsletters are quite popular, they are not as effective as a printed copy. A good newsletter, properly distributed, confers some significant advantages – a highly targeted audience, zero clutter, and a way to build a good reputation among audiences without explicitly asking for business.
Another brand building option is that of trying to become a “thought leader” in the business. This could be done through delivering talks at industry seminars, writing articles in the business press, and so on. A cursory glance at the branding supplement of any leading business newspaper can give us several examples of advertising and marketing professionals who use this very effectively.
Writing a book is a particularly effective route to achieve thought leadership.
A rewarding way to achieve thought leadership status as well as good public relations mileage is by creating events that involve student participation – inter-college contests, for example. I use the term rewarding because such activities are a win-win all around, since students benefit greatly from the exposure and interaction.
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