B2B is short for “business to business”. It is a business model in which the companies involved create products and services for other companies and organizations. B2B companies can include software as a service (SaaS), marketing companies, and companies that create and sell various supplies. Business-to-business marketing includes all the actions and processes for marketing and distributing a product or service to another company.
In other words, it's marketing aimed at other companies rather than targeting consumers. Therefore, marketing aimed at consumers is called B2C marketing. Looking at those definitions, it's easy to think of examples of B2C marketing in your own life. Almost any store you visit offers products that are sold through B2C marketing.
In addition to in-store shopping, such as shoes and groceries, B2C marketing also includes high-end items such as luxury cars and first-class travel. Examples include massages, photography classes, or assisting an accountant when filing your taxes. Business to Business (B2B) marketing is a process that involves selling a certain product manufactured by one company to another. In addition, it is necessary for any company that wants to offer its services to other organizations.
B2B marketing is generally based on the same methods as B2C, but it adds some additional approaches. Figuring out who exactly is in the b2b marketplaces responsible for what you buy and when often requires a bit of detective work for the marketers and marketers they work with. While this approach may work in some cases, you should always adapt to the purpose of your marketing. Now, b2b marketers can choose between different offline and online channels, and test the results to see which channels work best for them.
An important distinguishing feature of business-to-business markets is the importance of personal relationships. Agencies themselves have a lot to say, so B2B sellers need to contact them and aggressively market their products to them. Because such a small number of customers dominate the lives of companies, database management is a crucial part of business-to-business marketing. The marketer must also show diligence and patience in negotiating the decision-making unit and alleviate the fears of financial, production, technical and other decision makers.
The first step of B2B marketing is to let other companies know that your business exists and that you have a product or service that will benefit them. Analytics software helps B2B marketers better understand their campaigns and the people they're trying to reach. However, B2B transactions still occur along the supply chain, in which one company purchases raw materials from another company to use in the manufacture of a product. Business-to-business marketing is necessary when one company's production is required for another company to maintain or improve its operations.
While it sounds like a redundant definition, marketing automation platforms automate your marketing, which means you can “set and forget”. Marketers design unique content and interactions to engage people in all positions of the funnel. Because of such impressive statistics, there's no doubt that you should implement an SMS marketing strategy.