Digital marketing measures have also become increasingly important in the B2B sector in recent years. This is because the majority of B2B buyers now search for suppliers on the internet and look for information before making initial contact. Many companies in the B2B sector still rely on their good reputation as service providers or manufacturers and are increasingly being left behind by the competition. In this article, I would therefore like to share with you the most important tips for your strategic B2B marketing mix.
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The design of your B2B marketing mix
The term marketing mix originally comprised the four P’s:
- Product
- Price
- Promotion
- Place
As the market is constantly changing, three more factors have been added to the four classic Ps. These relate to the staff, who are important for customer satisfaction. The processes involved in creating products and services and the equipment used in the premises are also taken into account.
- People
- Process
- Physical Facilities
For companies in the B2B sector, it is necessary to consider all seven aspects of the marketing mix for a high-revenue marketing strategy. The goal is not only to have an appealing offering that can compete with the competition in terms of price. The priority is to optimize all processes, from manufacturing to long-term customer loyalty. At the same time, your company must establish itself in the market, increase its reach, and gain the trust of customers.
All of this only works with a well-planned marketing strategy. That's why I'm giving you the most important tips for successfully implementing your marketing mix.
In the B2B sector, too, you need to tailor your marketing measures precisely to your customers. The internet has become the most important research tool for B2B buyers. Time and again, I see entrepreneurs failing to fully exploit their potential because they only use one-sided marketing. By covering various channels, customers can be reached at more touchpoints in the customer journey, which ultimately leads to successful marketing. Accordingly, you should choose the right online marketing channels for your B2B marketing mix.
When planning, you should first focus on what makes your company unique. The marketing strategy should always be tailored precisely to the company and its customers. This is the only way to achieve a consistent effect that will convince potential B2B customers.
Important indicators for selecting marketing instruments are the target group, the industry, and the product. The products or services offered are always at the center of the B2B marketing mix.
The following questions arise:
- What do you offer?
- What values define your company?
- How is your company positioned in the market?
- How does the company stand out from the competition?
- How big is your budget for marketing measures?
- How much time can you invest in the marketing mix?
The target audience – using the example of the book "The 4-Hour Work Week"
One aspect plays a decisive role in the marketing concept: where can you best reach your target group? It is not enough to simply offer great products or services. Potential customers must be reached and addressed through the right channels.
Studies have shown that the book cover and title are crucial to a book's sales success. That's why Timothy Ferriss tested several potential titles with Google AdWords ads before publishing his book "The 4-Hour Work Week" to find out which title generated the most interest. The title with the most clicks is now featured on the book cover, and his book became a bestseller.
This example shows how important it is to address the right target group when marketing products and services. It is not only crucial that a company offers great services or products, but also that it strikes a chord with the target group using the right triggers.
The choice of marketing channels
Time and again, I see small and medium-sized businesses trying to do too much at once, but then unfortunately only managing to do everything half-heartedly. This is usually due to a lack of resources, such as time and money. That's why I always recommend that my clients focus on fewer online marketing channels and then implement them 100%. When planning your marketing channels, you should take a strategic approach. Which channel is right for your target audience? Which channel offers the best ROI? How much effort does it take to manage each channel? And what opportunities does the channel offer me to present my company, products, or services?
My tip: It is advantageous to start the customer journey backwards with the last touchpoints. These are most likely to be in the purchase phase, which means that an increase in sales can be achieved more quickly here.
Incorporating your own website into your marketing mix is the first step. This has many advantages. Owned media offers great creative freedom, allowing your company to present itself perfectly. Here, interested parties not only receive the most important information, but can also contact you directly. Depending on your capacity, it may also be worthwhile to create your own blog to demonstrate your expertise and offer added value to interested parties.
I also recommend never relying on just one channel. If it breaks down for various reasons, you need a second source of income. Social media, for example, offers great marketing opportunities, as high-quality posts spread quickly through likes and shares. But newsletter marketing also offers several advantages and addresses your customers directly. Another advantage of these two marketing channels is that their success can be measured directly. This allows you to quickly determine how well you are reaching your target groups with the content you use.
You should also take a look at search marketing. It is an effective tool that helps companies become visible on the internet. You can actively influence your company's success through measures in the areas of SEO (search engine optimization), paid advertising, content creation, and content outreach (online PR work/distributing your own web content through active seeding). Web analytics also offers the opportunity to analyze and evaluate the measures taken. This white paper shows you how to develop the right search marketing strategy in B2B and achieve your goals: "B2B Online Marketing – Strategies for Greater Visibility in the Digital Age."
There is no one right solution. Which marketing channels you use depends on the size of your company, your target audience, and resources such as time and budget. Everyone has to find their own way to reach their B2B customers efficiently.
My tip: The goal is to use the channels that contribute most effectively to customer loyalty. To start with, you should test different channels and compare their effectiveness. This will help you identify the most efficient channels.
Example of the right choice of online marketing channels
A great example from the B2C sector is the Kassel-based Sushi Restaurant Wasabi. Wasabi has even deliberately decided not to have its own website and instead focuses entirely on marketing via Facebook and Instagram. This allows them to reach their target group perfectly with comparatively little effort. Prioritization is therefore an important factor in planning the marketing mix.
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Why B2B companies should invest more in social media
The major advantages of social media marketing are well known. It can be used to strengthen corporate branding and is particularly effective at reaching the target audience. Good posts spread themselves through likes and shares. Nevertheless, many companies do not use social networks at all or only do so sporadically.
That's why it's time to rethink things. Especially in the B2B sector, it's worth including social networks such as LinkedIn, Xing, or Quora in your marketing mix. They offer companies and employees the opportunity to demonstrate their expertise and make important business contacts. Social networks also have a lot to offer in the area of e-recruiting. Which social media channels you use depends on your target group, but also on the time you want to invest. Here, too, it's better to use fewer channels and then use them daily or at least several times a week.
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Content marketing – an important discipline in the B2B marketing mix
Content is king! This saying has long been established in online marketing. Without content, it simply doesn't work. Many people underestimate the impact of good content. Not only can content be used everywhere, it also strengthens branding. For example, a corporate blog can reinforce your company's position as an expert. You can learn how to do this in the contentbird white paper.
With great content, you not only market products or services directly, but also establish them on the market. Content on your own website should always be optimized for search engines. This includes a clear structure with subheadings and good readability. In general, content must always be adapted to the platform used. For example, Instagram focuses on well-presented photos, while Quora focuses on expert opinions.
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The marketing mix – more customers with the right marketing strategy
Only companies that know their business inside out and plan their marketing strategically can generate more sales and thus more revenue in the long term with their B2B marketing mix. With ill-conceived marketing strategies or inadequate use of the selected channels, B2B companies quickly fall behind. While online marketing gained a foothold many years ago, particularly in the B2C sector, it remained limited to a few B2B
94% of B2B buyers use the internet for their research, and 71% of B2B buyers search online for suppliers before contacting them. That's why it's time for a change for B2B companies that have relied on old marketing methods up to now. So ask yourself: Do you cover all seven aspects of the marketing mix? And how does this translate into a marketing strategy that really reaches your customers? Make sure your marketing is perfectly tailored to your company and your customers. This is a process. Only by constantly measuring KPIs will you find the right marketing channels to reach your customers at all important touchpoints in the long term. This is the only way to keep up with the competition in the long run.
