Marketing

B2B Marketing

Business to Business: The Explanation Behind It

If you are still the uninitiated one, you might wonder what is behind business to business (B2B) marketing. In fact, it might be new to you, as like any others who weren't updated with this business trend. You might also happen to hear business to consumer marketing. Now, if you want to learn more about business to business, or B2B, we need to distinguish it from business to consumer (B2C). 

Marketing programs there are many distinctions which can be found between the two marketing strategies although they use several related marketing programs like advertising, public relations, direct marketing, and internet marketing. They also employ similar initial steps with as far as developing marketing strategy is concerned. However, in terms of executing these programs and as well as the results coming from their marketing activities, the distinction begins. In B2B marketing, the relationship building activity efforts are made from one business to another. So, in this effort, the value of the business relationship is maximized, in which multi-step buying process plus the longer sales cycle are involved in the activities, is strengthened.
The business value also determines the rational buying decisions by focusing principally on awareness and educational building activities; therefore the brand identity of B2B is made based on personal relationship created. On the other hand, the business to consumer marketing, or B2C, the relationship building activity efforts focus on the consumers.
The activities evolve around disclosing, selling, or marketing goods or services to the community, or to the consumers themselves. Unlike the business to business marketing, its major goal is to convert shoppers into buyers as constantly, forcefully, and frequently as possible. As it is the consumers that are the main target of B2C, the marketing program is product driven. In addition to that, it capitalizes on foregoing the value of each transaction made with the people.

Maintenance software and in-house service networks are provided for other organizations to make use of so to develop sales, profits, efficiency, and marketing. Examples of these networks include locations and marketing sites which target decision makers, managers, and business holders. Again, in contrast of the business to business, the business to consumer marketing does not employ multiple buying process and longer sales cycle. The shorter sales cycle and single-step buying process are what the concept of B2C evolves around. It creates its brand identity in the form of imagery and repetition. It focuses on the point of buying and merchandising activities such as displays, store fronts, and coupons. In short, the businesses which provide retail product to the buying public falls under the B2C marketing. Business to business marketing Both marketing programs target on creating a strong brand. While the business to business marketing does not essentially create products and services to directly target shoppers' loyalty and buying instincts, it promotes these goods based on the emotional buying view of the consumers, as it is with the business to consumer marketing. And while in business to consumers marketing, the targeted consumers come up with purchase decisions seeing status, quality, comfort, and security as the strong factors, business buyers in business to business marketing depend on the aspects of enhancing productivity, reducing costs, and increasing profitability.

Business Analyst for the Small Business

The Analyst

Business analyst for the small business; a small business owner may not think he/she needs a business analyst. Small businesses are sometimes caught up in trying to survive and overlook a key element in their success. The business analyst can actually come in and determine what the small business owner can do to expand his or her business allowing the owner benefit just as much from a business analyst as a large corporation. There may be times when the analyst sees the big picture when the small business owner can only see the bottom line. The new small business may not feel the added expense of a business analyst is worth justifying. In fact this is just the case.

Businesses need an analyst.

Income And Advertising Techniques

A small business can benefit from the an analyst in many ways he/she may be able to offer an unforeseen income generating avenue. Advertising techniques the small business is using may be proving fruitless and the analyst may be able to implement blue tooth advertising. The small business could target specific clients instead of a general population with his or her advertising dollar. The analyst may suggest point of sale income not thought of by the business owner. Other elements the analyst could suggest would be repackaging in different sizes, where appropriate and offering complimenting sales items that may have not occurred to the business owner. The analyst is there to show a different perspective and take the business to the next level.

The analyst will be able to assess the small business and determine what decisions should be made. He or she can instruct the business owner of new programs and techniques available. The analyst will be able to offer advice as to new technology the business owner is not taking advantage of. Therefore, the business is able to be aided in several ways by the business analyst.

The analyst is a visionary. He or she can show the small business how to implement innovative business techniques. These techniques may have never been before thought of by the small business owner. The analyst can view the broad scope of things to determine a need by the customer. The small business owner may have no idea these areas of opportunity exist. It is up to the analyst to show the small business what will work and what will not work for the business.

Building profits and customer relations are the two key components that make up what the business is focused upon. A good analyst will be able to integrate these key elements into a plan of action for the small business and act as the liaison between the small business and the customer to determine if the needs of the customer are being met. A report can then be generated to determine how the small business can use this information.

Conclusion

The small business and its customers can benefit from the knowledge a business analyst brings to the table. The added expense of an analyst can significantly raise the profits of a small business. It is worth researching whether a business analyst will be able to use his or her skills when it comes to a small business.

4 Advantages of Video Marketing For Businesses

This is the tool that all businesses should use today.

Image with a laptop a writing book a pen and a camera

4 advantages of video marketing for businesses. Unless you have been living on another planet, it’s well known that video marketing is one of the most powerful means of advertising. It will pass on your message and create attention.
Today, video marketing for businesses has become very popular, not only with large organizations, but with smaller businesses as well. Even some of the Ma and Pa businesses have started to invest in video marketing.

1. Quicker Rankings

Achieving page one rankings for your website on search engines such as Google, Yahoo, Bing have become far more difficult. In the past 3 to 5 years, especially if your business and/or products are in a very competitive market/niche. Page one rankings can take anywhere from a few weeks to many months or even longer with normal methods. They can be: back-links, information content, website structure etc. etc. However, creating a video with the same keywords it can rank on page one within hours or sometimes minutes. Therefore, if you’re looking for quick SEO results for your business website, include video marketing as part of your SEO.

2. Videos Are More Appealing

A video is more appealing to customers in many ways. Visual is the best form of showing and demonstrating how a product looks and/or is used, especially when the actual business owner is in the video demonstrating or explaining the product. Research has found that people take in information and understand better when it’s presented in a visual format than just a page of words. This could be one of the main reasons why YouTube gets over 2 billion video views per day.

Video marketing generally creates more user engagement and understanding about what you do and what you sell in your business and when added to other social media it can put your business on a higher level.

3. Using Video in Social Media

The great advantage of video marketing is that it fits in well with social media. This method has proven to be extremely popular in recent years. Businesses with Facebook Fan pages are not complete without video content; the video has a stronger attraction effect, even if the video is not fantastic or has no viral attributes than just plain text updates. Taking a look at the most popular Facebook Fan pages, the video is undeniably a key constituent of their marketing strategy. However, Facebook is only one social media company, there are many other social media companies that video can be used to promote your business. Therefore, applying the same techniques as the big boys will boost your video marketing using social media to be the envy of your competition.

4. Video Marketing Is Cheap

Today with advances in technology, video marketing is one of the cheapest forms of online marketing and is a method a small business owner could do by themselves with basic equipment even when on a tight budget.
One method is by using your smartphone, you can record a basic video about your business and upload it to your Facebook business page or YouTube channel. Video Marketing is a very affordable option compared to more expensive radio and/or TV commercials.
Need help with your online video, YouTube and/or social media Marketing?

Conclusion

If you really think that video can improve your business, by all means, give it a try, I have given you enough information to make a go. However, if time is tight and you are busy running your business we are here to help. Leave a message in the contact page and we will get back to you.

5 Biggest Mistakes Many Business Owners Make And How To Fix Them

Are you making these mistakes?
Most probably!
You are going to learn what they are and how to fix them. So, let’s check it out.

Image of an ad for a car’s service prices.

First Mistake

Business owners try to do everything themselves. If you do this, you are going to drive yourself insane and burnout. If you are doing:

  • all the bookkeeping,
  • the marketing,
  • opening in the morning,
  • closing at night
  • the advertising
  • answering all the calls and
  • taking care of customers

You are going too quickly and found that you built yourself a job and not a business. That’s not a situation you want to be in because you limit the growth that your company can go.

Solution

The solution to this is obviously simple:

  • delegate to your employees,
  • delegate to another company
  • hire people that can help you
  • find a marketing company
  • find a bookkeeping service and
  • other services that can help you with your business.

When you do this, you’ll find more time to spend on developing your business, instead of working in your business. You never want to work in your business, you want to work on your business. So, learn how to delegate.

Second Mistake

Focusing on one type of marketing is not enough.
There are many types of marketing, you should be really taking part in all of them to really get the best marketing and advertising campaigns possible. These are the most used today by successful businesses:

  • online marketing
  • print marketing
  • direct mail and
  • depending on your budget, TV, and radio

Solution

Naturally, the type of business you own depends on the type of marketing you do.
Therefore, if you’re an online business you may want to spend a little bit more time and money in online marketing, but it doesn’t mean you should eliminate all the other ones. Here are other ways to go even further:

  • do video marketing
  • if you have a website, do website SEO
  • video SEO
  • do paper click campaigns
  • you can do banner ads
  • focus on social media.

There are a hundred and one different ways to go and each category can go deeper, and deeper. As an example, if you want to do video marketing:

  • do video SEO marketing
  • Google marketing or
  • YouTube marketing.

It will take some time and it may cost you a little bit of money, but in the result, you will have a  very powerful marketing campaign that will take your business to a higher level.

Third Mistake

Most business owners think that they are marketing geniuses. The truth is, they’re not!
There are a lot of things you can do on your own, there is a lot of research you can do and you can learn a lot of things. But really be honest here, the focus should be on your business.

Solution

What you should do is hire employees who know marketing or seek out a marketing company. Hence, if you want to do video marketing, hire a video marketing company, if you want to do print advertising, hire a print advertising company and so on.
Don’t be tempted to do the marketing yourself. Unless you have the experience, it will never be as good as a professional company.

Fourth Mistake

Most business owners don’t cater for their customers. As a business owner, there is a lot you need to be doing and like I mentioned in the second mistake, you should be focusing a lot on marketing. If you are, that’s awesome, but you cannot forget to cater to your customers, they are your business.

Solution

Focus on the customers you have because you need them, so give back value again, and again. If you’re spending too much time on marketing; driving new customers into your business, that’s great. But what happens if they don’t return? Your customer service and products should be so good that they think you are over delivering.
There are a few things you can do to ensure your customers are happy, and they come back to you time and time again.

For example, if a customer comes back often:

  • if you own a coffee shop, offer them a free cup of coffee sometimes or
  • own a running store, maybe give them a water bottle with your logo on it or
  • you have a retail store, give them a discount on the next purchase or
  • if you own an online store, you notice that some customers are buying from you time and time again, contact them, let them know you’re thankful for the business, and then offer them a discount code to use on their next order.

Small things make customers happy, and they end up telling their friends, and they say, hey this company gave me a free water bottle or I have a free cup of coffee here or this company gave me a discount on my last order because I buy from them so often.
People will talk about your business and that’s what you want, you want word of mouth because that is the best type of marketing you can do and you can’t put a price to that.
That’s what you want as a business owner. You want your customers to go out and tell other people about it. If you’re doing things right, your customers will go out, and they will tell everyone they know about your service. Another great thing you can do is to run a contest or a giveaway to get people involved

Fifth Mistake

They don’t listen or test new ideas, and this is really important for any of business because business is always evolving, methods are always evolving. Therefore, if you’re not changing things and moving with the trend, you will get left behind and if you haven’t changed anything, or tested anything in the last 6 months, it’s about time you do…

Solution

The best way to do this is to ask your employees or ask your customers what they like and they don’t like or what they would change about the business.
Ask about ways to be more efficient, the things that they would change. Once you start getting a list of ideas together, you can pick the best ways and start testing and changing. However, before you implement something to make standard procedures, you should always test it. What may look like a great idea, may not be so great once put into practice. But what doesn’t seem like a great idea could end up being a winner, so the only way to do this is to really just test it, and then find out what works.
Try to understand and listen to your customers they are keeping you in business. Hence, make sure that they are happy. If there are things that they don’t like, change them.

Marketing And The Dynamics of Competition

Introduction

Marketing in the 21st century is not like it was in the ‘60s, ‘70s and even the ‘80s. This is because there are enough products to satisfy customer’s needs.  In fact, customers are “very satisfied”!  Companies have segmented the market until it has become almost too small to service profitably. Companies have refined the dynamics of competition so well that customers have a large variety of choice.

A group of people around a laptop discussing marketing

Giant corporations such as Wal-Mart, Costco, Woolworths, and Coles control most of the distribution. There are a lot more brands and fewer producers. Products “life” has been shortened and in most cases it’s cheaper to replace than to repair, complicating the process even further.

Customer or Product?

In marketing, the needs of the customer were always the first principle. However, today many companies are changing and are now focusing on the actual product. These companies are focusing on what category it falls into, and then what sub-category (e.g. ice cream and then what flavours). They concentrate on the product first then focus on who will use the product, and those considered “not using” are deleted from the sequence. Therefore, by following this concept, companies give their competitors a target market.

This system may capture 75% of the “user market” because it has a USP (Unique Selling Position) i.e.; more flavours, more colours, more convenient packaging, longer shelf life, etc, etc.  However, why can’t the other 25% be taken care of instead of leaving to the competitor?

Capturing the other 25% can be achieved by using “Lateral Marketing” and this is where the dynamics of competition are used to the full. . . . . Companies should stop thinking about how to retain the 75% in love with the product (i.e. Vertical Marketing), but think about drawing in the other 25% of the market and make them your customers. This is can be done by thinking out of the square. Although it may be seen as further “dividing” the market-place, in actual fact it’s making it bigger.

Example: Let’s imagine your company sells hand cream. It has captured 75% of the market because of some formulator development that makes the hands feel smooth and uses less product. The other 25% that your competition is trying to take would rather spend less for soap, then use less. Therefore, to capture the other 25% is to start thinking “innovation” and not to produce a different or variant product.

Lateral Marketing

The objective is to use Lateral Marketing to work within the original category of the product complementing it and not competing with it. One could come up with a particular hand cream that has more lanolin, absorbs better into the skin, a nice fragrance or has more natural ingredients. It can be innovated by size, like selling in large economy bottles and/or selling in tubes and without ever changing the formula of the product. This kind of marketing works better for mature markets (i.e. the ones with no growth), after all, what new uses can one come up with, for hand cream. This method can also create markets from start. However, it requires greater resources and may redefine one’s company mission and business focus.

This way of thinking in marketing doesn’t create “new” categories, it always occurs “within” the category where the idea originated.  If the company followed the right procedures, it would have gathered the 25% of customers. These are customers might have gone away to another competitor. It didn’t require a lot of overheads and this company still producing hand cream!

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